On termination of the Investigation Commission of acquisition of the Parex Banka

Original text from latvian Translated by Egils Turks, http://www.turks.lv

On termination of the Investigation Commission of acquisition of the Parex Banka

On February 24, 2011, the legislator of the Latvian Republic – the Saeima – for the first time since restoration of independence ruled unanimously. It was the vote in which the Saeima by 90 (ninety) PLACETS, 0 (zero) NON PLACETS and 1 (one) ABSTENTION, and 3 (three) DID-NOT-VOTES made a decision to establish a Parliamentary Investigation Commission of alleged illegal activities during the process of takeover and restructuring of the JSC Parex Banka.

According to the Section 3 of the Act on Parliamentary Investigation Commissions, it was up for three months, as the proposal for its creation did not contain the duration of this Parliamentary Investigation Commission.

Composition of the Commission in full was elected on March 17, 2011, when the commission met at its first meeting. Only on March 31, the governing bodies of the Commission were elected, and it began work on the corresponding and information retrieval.

During this time, the Commission was sending requests for information, and it began to receive answers only as of May 3.

As the 3 month period ended on May 24, at the routine plenary meeting of the Saeima on May 19, 2011, and this was only 2 weeks after the receipt of the first answers, it reviewed the draft decision “On prolongation of term of office of Investigation Commission of the alleged illegal activities during the process of takeover and restructuring of the JSC Parex Banka” (162/Lm10)(Doc. No. 918). The Saeima by 30 (thirty) PLACETS, 40 (forty) NON PLACETS and 16 (sixteen) ABSTENTIONS, and 1 (one) DID-NOT-VOTE, decided to reject the draft decision and to END the activities of the Commission before reaching its basic objective – finding the truth about possible illegal actions during the acquisition and restructuring process of the JSC Parex Banka. Thus, effectively preventing to achieve this goal.

Subject to the above, we have on May 23, 2011, personally addressed an application to each member of the Saeima of the Republic of Latvia, who voted NON PLACET, ABSTAINED or did not vote while being present, with a request to disclose to Latvian people the motives of his/her vote cast, and to provide a reasoned explanation, written by his/her own hand, and come up with it in person, as stated by the law.

We are waiting for the explanations.

P.S. The voting results on the draft decision “On prolongation of term of office of Investigation Commission of the alleged illegal activities during the process of takeover and restructuring of the JSC Parex Banka” on 19 May, 2011, can be seen on the homepage of the Saeima.

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