Assets Recovery and Management Agency (ARMA) announces the beginning of the sale of seized property - wood (round timber) of the "oak" 870 logs with a volume of 604.86 m3. The lot is already available for bidding on the Prozorro.Prodazhi platform. Starting price 20,044,292. 02 UAH.

It is about 870 logs of illegally felled oak trees discovered on the territory of the nature reserve in Volyn, the processing of which was organized by the officials of the national park and a local entrepreneur. By decision of the Lutsk City and District Court of the Volyn Region dated October 30, 2023, this asset was seized and handed over to ARMA for sale.

The process of asset realization on Prozorro.Prodazhi will take place through a three-round English auction with closed bids. This system ensures maximum transparency and competitiveness of bidding. Bidders submit their bids without seeing their competitors' bids, which encourages more active participation and fair competition. The electronic system automatically ranks bids from lowest to highest, giving the highest bidder the strategic advantage of the last move in each round.

The auction is open to all interested persons and organizations. This is a unique opportunity not only to purchase valuable wood, but also to contribute to the fight against illegal deforestation, because the proceeds from the sale will benefit the state. This will help compensate for the damage caused by illegal logging.

Read more about the bidding process here.