Kodumaa Kapital savings and loan association declared bankrupt by court
The Harju District Court declared the bankruptcy of the Kodumaa Kapital savings and loan association in mid‑September.
Kodumaa Kapital stopped paying out money to depositors at the start of this year, saying the halt was caused by changes to the Savings and Loan Associations Act, Ärileht reported.
In February, a letter sent to depositors offered them the chance to exchange their claims for units in the Kodumaa Fund. The trust fund was presented as a solution that would protect depositors' interests and emphasized growing members' money and avoiding shutting down operations.
The letter to depositors said the Kodumaa group's loan portfolio — Kodumaa Kapital and Kodumaa Laenud — would become the trust fund's assets.
Depositors went to court, suspecting asset transfers, because the association moved its main asset — a €2 million loan portfolio — into the new Kodumaa Fund through a subsidiary.
Kodumaa Kapital's board currently includes Kiur Lootus and Pille Lõugas. Reform Party politician Tõnis Kõiv left the board in the summer of 2025. He had led the association since 2021 but reportedly continues as an adviser.
Creditors must notify the bankruptcy trustee of all claims that arose before the bankruptcy declaration no later than November 15. Claims submitted late but recognized will be satisfied in the final order.
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Editor: Aleksander Krjukov, Argo Ideon
Source: Ärileht
