Crime, Latvia, Legislation, Real Estate

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Prosecutor's office arrests property of Spruds family's company, bringing Skanste neighborhood development project to a halt

BC, Riga, 24.08.2018.Print version
The prosecutor's office has arrested property of the joint-stock company Projekts B10 that belongs to former insolvency administrator Maris Spruds and his relatives, which means that the Riga City Council will not be able – at least for now – to buy several land plots necessary for the development of Skanste neighborhood in Riga, informs LETA.

Riga City Council's Property Committee approved purchase of four land parcels needed for the first round of the Skanste neighborhood revitalization project. Three of these land plots belong Projekts B10 – a company that belongs to Spruds and his family.


However, on August 22, 2018 the Riga City Council's Property Department was notified by the prosecutor's office that property of Projekts B10, including the land plots, had been arrested.

Projekts B10 belongs to Spruds, his brother, father and sister. The company was founded in 2007 and deals with renting out real estate. In 2017, the company posted 20,519 euros in losses.


The total value of the three land plots that the Riga City Council wanted to buy from Projekts B10 is 443,905 euros.


Jana Grinhofa from the Riga City Council's Development Department told that the project would be impossible to implement without buying the land plots. If so, the project will have to be revised - otherwise it will not be co-financed by EU funds. The project is to be carried out by the end of 2022.

 






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