Book review, Financial Services, Latvia, Legislation, Markets and Companies, Metals Market

"If we lived in a country with leaders who truly cared for its welfare and for many dozens of millions not being just squandered, but spent to satisfy a few extra-greedy millionaires, the law would not be treated as a set of empty phrases, and the only question would be if Einars Repse, Andris Vilks, Kaspars Abolins, Sergejs Zaharjins, Ilja Segals and perhaps a few others would have to spend in one cell or in separate," Lapsa and the other co-author, Kristine Jancevska, say in the book's conclusion.

The authors have done impressive research to name in the book, on the basis of facts and documents, the persons who are guilty of "dumping" state money into Liepajas metalurgs, turning a blind eye to wrongdoing at the company which eventually resulted in the company's bankruptcy.

However, most probably no state official will be held responsible, Lapsa said during the book's presentation today. Nevertheless, the book sheds light on the suspiciously exemplary privatization of the company, developments involving Liepajas metalurgs controlling stake, the way the company was able to borrow large amounts of money, as well as "the hidden motives and the blatant lies".

Lapsa emphasized that the book had nothing to do with the upcoming elections, and warned that new disappointments would follow soon regarding the sale of the bankrupt manufacturer's assets. The most valuable assets of the company are sold without holding an auction, he said.

The book has been printed in 2,000 copies by "Baltic Screen" in cooperation with the publishing house Atena. The authors and publishers of the book have decided to not use the book for profit, therefore the book will land in bookstores for the price it cost to print – one book will cost EUR 1.50, plus bookstores' markup. This was done in solidarity with those 1,500 people who lost their jobs after Liepajas metalurgs went under, added Lapsa.