Estonian court orders Oliver Kruuda to pay back EUR 15 mln debt to Marcel Vichmann

  • 2020-05-05
  • BNS/TBT Staff

TALLINN – The Tallinn Circuit Court decided that food tycoon Oliver Kruuda and his bankrupt company AS Rubla must pay the 15 million euro claim submitted by businessman Marcel Vichmann's company OU Best.

The claim of OU Best Idea is based on loans granted by Marcel Vichmann to Oliver Kruuda and his companies through Vichmann's various companies and on bonds and shares purchased, the law firm TGS Baltic said.

The circuit court agreed with the plaintiff that Kruuda, personally and on behalf of his company AS Rubla, undertook in a written agreement to pay all debts to the companies of Marcel Vichmann.

The circuit court ordered Oliver Kruuda and AS Rubla to pay all amounts due, together with interest and interest on arrears. In addition, the circuit court satisfied the claim for repayment of the loan filed separately against AS Rubla in the amount of approximately 500,000 euros.

The circuit court's ruling has not entered into force, Oliver Kruuda and AS Rubla have the right to file an appeal in cassation with the Supreme Court within 30 days.

AS Rubla, formerly named Tallinna Piimatoostuse AS and Tere AS, was under liquidation from 2015 and has become bankrupt by now.