Rüütman may be a businessman and one who doesn't always toe the line… but the conduct of SEB and its dumb managers is a hundred times worse!
Private person's bankruptcy procedure was initiated against Toomas Rüütman at the initiative of SEB Bank and actual declaration of bankruptcy could only be suspended in the circuit court. Says Rüütman: ‘The judgement made today proves that SEB was prepared to do whatever it takes to hide its own mistakes and shun responsibility for organising the issue. The bank tried to set me up as the scapegoat and its desire to have me declared bankrupt had the malevolent purpose of intimidating me and causing even more problems.’
In light of this court judgement, SEB decided to compensate clients for the bonds of Rüütman's company TR Majad in the amount of 177 million kroons.
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