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Latvia's Competition Council to announce decision on LVM forestry contracts case
๐Ÿ‡ฑ๐Ÿ‡ป Latvia /Economy & Trade

Latvia's Competition Council to announce decision on LVM forestry contracts case

From Delfi Latvia · () Latvian

Translated from Latvian, summarized and contextualized by DistantNews.

At a glance

News Sources not specified New plan
  • Latvia's Competition Council is holding a press conference regarding a decision in a case involving LVM forestry contracts.
  • The Competition Council initiated an investigation into long-term forestry contracts, some of which are linked to a scandal regarding support for the forest industry.
  • LVM could face millions in fines if violations are found, and the case concerns exclusive rights granted to certain companies for timber purchases.

Latvia's Competition Council (KP) is set to announce a decision in a case concerning long-term forestry contracts awarded by Latvijas valsts meลพi (LVM). The KP's chairwoman, Ieva ล mite, will participate in a press conference detailing the ruling.

Later in the day, LVM representatives, including board member Jฤnis Krลซmiล†ลก and head of the legal department Andis Zalpฤ“teris, will hold their own press conference to outline the company's next steps following the KP's decision. This follows a report from "de facto" in March that revealed the KP had opened an investigation into these so-called long-term forestry contracts.

These contracts, some dating back to the 1990s, reportedly grant exclusive rights for guaranteed timber purchases or round log supplies to specific private companies. Other companies without such agreements must participate in LVM's auctions. "De facto" previously reported that LVM could face millions of euros in fines if violations are confirmed.

DistantNews Editorial

Originally published by Delfi Latvia in Latvian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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