Economic Court may be established in Latvia in 2021

If no obstacles are put in the way, Economic Court may be founded in Latvia in January 2021, said Latvia’s Justice Minister Jānis Bordāns in an interview to public broadcaster LTV programme Rīta Panorāma on Wednesday, 24 July.

He expects the founding of a new court may cost the state budget «slightly above EUR 100 000». This includes securing necessary jobs in the existing judicial system, as well as adapting Justice Ministry’s existing premises for the needs of the new court. It is planned to attract the best judges to work in the Economic Court, promise them good, interesting and stable work, as well as good wages, explained Bordāns, adding that claims that judges have small wages are mere rumours.

«If we cannot find at least ten competent attorneys in Latvia, it will not mean anything good for the country. But we can do that,» the minister is certain.

Latvia’s justice minister also stressed that this sector’s representatives welcomed the idea for the creation of an economic court in Latvia. Bordāns also said that while he was visiting Finland,

the Head of the Helsinki Commercial Court told him that high-ranking judges there were also sceptical about founding such a court in Finland. Now, however, no one wants to return to the old system.
Puppets left from the Oligarch Era should be replaced

Bordāns says the New Conservative Party «is making the coalition more resistant against shocks».

«Puppets left from the Oligarch Era should be replaced,» he said, adding that his party invites evaluating all candidates proposed for high-ranking positions.

Talks regarding re-approval of the State Security Service’s chief Normunds Mežviets outlined that people oppose NCP’s ideas not only because they lack the knowledge but also because of personal interests, said Bordāns.

«We proposed preventing any cases from being swept under the rug. This should be discussed, and it should be discussed openly,» stressed the minister, mentioning that a year before the end of his term, NCP had proposed discussing the possible evaluation of Latvia’s Prosecutor General  Ēriks Kalnmeiers’s suitability for his post.

Sole home without tax

Latvia’s Justice Minister says the old coalition’s «fear of shaking up taxes» has led to the country «living with old cadastral values that impede other processes».

He said the ministry’s planned cadastral value calculation model will be complex, but it will help organize each housing group. Bordāns also said it will be possible to adopt this model only once an agreement has been reached for a resident-friendly real estate tax. For example, the tax rate for a person’s sole home could be set at zero

The justice minister said the effect the real estate tax has on the budget is not large. This means it may be possible to relieve residents of paying real estate tax for their sole home.

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