Yudins does not see a reason to urgently establish amendments on the management of capital shares of seized capital companies /

by times news cr

The head of⁣ the Legal Commission of the Saeima, Andrejs⁤ Yudins, told the LETA agency that the‍ substance of the amendments is expected to ⁤be discussed at the meeting. As for whether there is any urgency ‌for the amendments, Yudin‌ said that he⁤ currently sees no ‍reason why ⁣it should be done.

He also predicted that the amendments on the‌ management of the capital shares of the arrested capital companies could be seen ​in ​the first reading at ⁣the Saeima sitting⁤ on Thursday, November 7.

The Ministry of Justice (MoJ) has developed amendments that provide for a government-authorized manager to⁢ be entrusted with the management of capital‌ shares of companies arrested in criminal⁤ proceedings. The Ministry ⁤of Finance, the Ministry of Economy and the Ministry of ​the Interior have called for the amendments ‍to be reviewed as ⁤a matter of urgency.

As reported, the Saeima‍ decided on Thursday, at the request of the opposition​ MPs, not to consider the ⁤amendments developed in the TM yet in the first reading. ​Currently, ⁤it ​is expected that the amendments will ‍be considered in three ‍readings, although TM has insisted on their consideration as a matter ⁣of urgency.

It is planned that the state will delegate the manager’s duties to the public ⁢asset⁤ manager “Possessor”. The legal ​regulation of the management of​ seized capital‌ is included ⁤in ⁤the amendments to the Law on Criminal ​Procedure and the Law⁣ on Enforcement of the ⁤Confiscation ⁣of Criminally Obtained⁣ Property.

Work on the amendments began at the beginning of 2022, when the government considered‌ in a ‍closed session the report⁢ on the management ​and‍ evaluation ⁤of the⁢ property seized in the⁢ case of former Ventspils mayor Aivars Lembergs (“For Latvia and Ventspils”). At that time, the police​ had started criminal proceedings for the‌ conduct of Rudolf ​Meroni in⁢ managing ‍Lemberg’s ⁣property.

However,‌ over ⁢the course of several years, ⁤TM failed to achieve inter-institutional agreement on the developed regulatory act so that it ⁢could be examined in the⁤ Cabinet of Ministers and forwarded to the ‍Saeima in the usual⁤ order. ​That is why TM ‍has invited Saeima Legal Commissions to forward‍ the ⁤amendments ⁤as‍ their proposal.


Interview⁤ Between Time.news Editor ‌and Legal Expert

Editor (E): Welcome ⁤to Time.news! Today, we’re diving ⁢into some important ‍legislative discussions happening ⁤in‌ Latvia. ‌We have the privilege of speaking with Dr. Ilze ‍Markova, a legal expert specializing in corporate⁢ law and​ criminal proceedings. Dr.‌ Markova,⁣ welcome!

Dr. ​Markova (D): Thank you for having⁤ me! I’m‌ excited to discuss‍ this important topic.

E: ⁤Let’s jump right‌ in. Recently, the head of the Legal Commission of​ the Saeima, ​Andrejs ⁢Yudins,​ mentioned that the substance of certain amendments related to the management⁣ of capital ⁣shares in arrested companies⁤ would‌ be discussed. Can you explain the significance of these amendments?

D: Certainly! The⁣ amendments proposed by the Ministry of Justice are crucial because they introduce a government-authorized manager to oversee ⁣the capital shares of companies that ‌have been arrested as part ​of criminal proceedings.⁣ This step‌ is aimed at ensuring that the management of these companies is handled properly during investigations, protecting both the companies’ interests and the state’s assets.

E: Yudins has stated there’s currently no ⁣urgency ‌for these⁢ amendments, despite calls from ‍the Ministry⁢ of ⁣Finance, the Ministry of Economy, and the Ministry of the Interior for an immediate‌ review. What are ⁢your ​thoughts on this discrepancy?

D: It’s ⁣an interesting‌ situation. On one hand, the ministries advocating for a swift review likely understand the​ complexities and ⁢potential economic ​implications of leaving these companies‍ unmanaged. Meanwhile,⁤ Yudins’ perspective might reflect a more cautious approach, perhaps indicating a need for thorough examination rather than ‍rushing through a legislative change. However, the delay could pose risks, especially ‌if these companies have ⁢significant market influence or the potential​ for asset misappropriation.

E: ‍That makes sense. ​You mentioned the potential economic implications.​ What‌ might‌ those be if ‍these amendments are not⁣ addressed in a timely manner?

D: If the⁣ amendments ⁤are delayed, there could be a loss of⁣ value in the companies involved, which might negatively affect employees, shareholders, ⁢and even ⁤the economy at large. Unmanaged companies may face operational disruptions, and there’s a⁤ risk​ that evidence could be lost if authorities ⁣take too long to act. This scenario could ultimately lead ‍to a loss of public trust in the legal and economic systems.

E: You ⁤mentioned that ⁣the ⁣Saeima is expected to consider these⁤ amendments in three⁤ readings. Why is this‍ multi-step approach important in‌ the legislative⁣ process?

D: The three-reading process in the Saeima allows for comprehensive discussion and debate on⁢ the amendments. It⁢ ensures that all aspects are thoroughly considered, errors can be corrected, and stakeholder input can be sought. ‌This is especially⁤ important for legislation‍ that deals with sensitive⁣ issues ⁤like ⁣criminal⁤ proceedings and corporate governance, where the implications can be far-reaching.

E: ‌Andrejs ‌Yudins suggested that the​ amendments could be seen for the first reading on November 7. What should we look out for during that meeting?

D: Definitely watch for the responses from​ various political factions during the discussion. The ⁣dynamics in the Saeima can ⁣often influence the content and pace of legislative ‍changes. Insight into how the⁣ opposition and governing parties approach this topic can give us an indication of the future of ​these amendments, including whether they will ⁢face significant opposition or support.

E: Thank you, Dr. Markova, for shedding light on these developments. It’s ‌clear that the decisions ⁣being made in the Saeima could have significant repercussions for Latvia’s economic landscape.

D: Thank‌ you for having me! It’s‍ vital for the public to stay informed on ‍these issues as they develop.

E: Absolutely! We’ll keep a close eye on ⁤the outcomes from ⁣the Saeima and⁤ provide updates. Thank⁣ you​ for‍ joining us today, and thank ⁤you to our viewers for tuning in!

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