Norway lost in the European Court of Human Rights!

The Court found that section 33 violates Human Rights Convention provisions on the protection of property rights.
Thus, the landowners claim that no land lessees may extend the old party agreements without taking into account inflation.

“ It’s a great victory for both landowners and for the respect for agreements”, says Chairman of the Norwegian Forest Owners’ Association, Olav A Veum, to NRK.no.

The controversial Section 33 of the Act provided that the secured land for residential or holiday home’s right to claim the extension attached to the same conditions as before – without limit of time.
The decision could force the Parliament to amend ground lease law so that landowners have the opportunity to adjust the ground rent when old contracts expire and be renewed.

Former Minister of the Department (Socialist) of Justice, Mr. Storberget found the decision unbelievable and said the government needed to consider an appeal!

A very interesting observation; so the Socialists think that land shall be given away for free after a few years of lease?

Lars Johan Myrtroen, has 40 years experience in international financing and runs his operations from London, England. He established M-broking in the early 80′s and running Stavanger Bank in the Eastern part of Norway. Euro Export Invest AS was established in Oslo in 1998 owning four IT and security companies, with KSD as the leading company holding offices throughout Europe and he has been participating in several start-ups in the US, Philippines, Norway and the UK, among others British Armouring Manufacturing Inc, and Birdstep Technology ASA (Public, Norway). Also major investor in “Norges Energi AS“. He has experience from the bio-metric industry, serving as chairman of BioPrint AS, Norway, and adviser to and Director in GenKey Inc, San Francisco. Acting today as Executive Chairman in EC Capital Management Ltd, trading as Economic Consultants. He enjoys golf and started Grenland Golf Club in Skien Norway in 1980 and served as a Board Member in the Norwegian Golf Association for 4 years.

Posted in Consultancy, Forum, Funding, Marketing, News letter

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