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Zurab Adeishvili Does Not Think Seized Property Shall Be Compensated According to Its “Market Price”

05.10.2010

The minister of justice of Georgia Zurab Adeishvili does not think the seized property shall be compensated according to its “market price”. The debates on this issue took place at the plenary session of the parliament of Georgia on October 1; the parliament was discussing the amendments to the draft constitution of Georgia.

The parliamentary opposition once more requested to input in the constitution the requirement about the preliminary and fair reimbursement of the property which might be seized because of public necessity; the reimbursement should happen in accordance to the market price of the property.

The parliamentary majority and the minister of justice do not think they should introduce the concept of market price in the constitution.

The parliamentary majority declines the argument of the minority which claims that the court might estimate less than market price for the seized property.

The members of the majority are sure the judge will anyway foresee the market price when estimating the compensation for the seized property.

Chairman of the committee for the international relations Akaki Minashvili mentioned euro-documents as models and stated that each of them indicate to fair reimbursement only.

As for the minister of justice, he stated that Georgia cooperates with financial institutes and implements many projects with them; thus, a property might be seized in the area where the market price is too low.

“Property might cost 3 000 USD in Tsalka but this price shall not be enough to purchase alternative property in any other place in Georgia,” said Adeishvili and suggested to use international terminology in the new constitution.

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