Unfortunately, it doesn't matter what beliefs the owners of a Swedish VPN have. The FRA law [0] means that any data which goes over Swedish links will be logged. One can only assume that the iPredator service is heavily monitored by the IC, just on principle.
If you are concerned about your privacy and want to use a VPN, then I would recommend using cryptostorm [1]. Firstly because it is run by people passionate about privacy, who have devoted considerable time and effort into creating a service that is both "safe" and fast. Secondly because those efforts have been directed at solving the right problems: unlinking, best practices crypto, and fast links.
The primary strength of cryptostorm is their decoupling of the VPN service provider and account management. You don't buy VPN service, you buy a token that is redeemable for VPN service.
Their banking is handled by a First Nation's bank (so effectively a country), and the financial transaction is between you and a 3rd party (not cryptostorm the VPN service provider).
So while some companies claim "we don't log account access", cryptostorm literally has nothing that they can log. They do not have access to any personal information at all. It is all handled by other people. Even if cryptostorm was compromised, or they lie about not logging, or they are forced to log due to court order - they are unable to provide any personal information.
So they solved the important problem: you are anonymous to your VPN service provider.
Their openvpn config is heavily tweaked to ensure that it uses only the most robust crypto (no RC4, thank you very much).
Of course, a VPN isn't really much use against a nation state level actor, but at least it can provide protection against local miscreants on an open wifi.
(Full disclosure: I've spoken with the cryptostorm guys about privacy and security, I respect their skills and knowledge. I might be biased for that reason [I also know anakata, teimo and peter sunde, and no disrespect to them but the cryptostorm guys did it correctly])
[0]: http://en.wikipedia.org/wiki/FRA_law
[1]: http://cryptostorm.is