At the initiative of the Asset Recovery and Management Agency (ARMA), a working meeting was held between the National Agency's management and Arsen Miliutin, Deputy Head of Oschadbank responsible for NPL management.

During the working meeting, the parties discussed the management of the seized asset, which was transferred to ARMA by a court decision and affects the interests of the state-owned Oschadbank in terms of repayment of debts on previously obtained loans by the owner of the shopping center.

As a reminder, ARMA received a ruling of the Shevchenkivskyi District Court of Kyiv dated June 3, 2024 and a ruling of the Kyiv Court of Appeal dated June 25, 2024. These rulings satisfied the request of the PGO prosecutor to transfer the property to the ARMA's management according to the list, which by its characteristics is real estate (non-residential premises).

The ARMA provided an appraisal of the seized asset and a review of the Report, which estimated the value at 7.6 billion UAH.

At the working meeting, the Agency emphasized that ARMA did not transfer corporate rights and funds on the accounts of LLC «TRI O» (Gulliver shopping center) to management. Accordingly, the rights of any financial institution as a creditor have not been violated in any way. The fulfillment of loan obligations depends entirely on the borrower and his or her willingness to fulfill them. After all, the provisions of the CPC of Ukraine and the special law take precedence over contractual obligations.

If there is a court ruling that ensures the public interest, the position of all government agencies and institutions should be the same - the state's.

I would like to note that efficiency for the state is a separate issue, which is a priority in our activities. After all, the state will receive at least 70 percent or more (as stipulated by the procedure, the starting offer) of the profits received by the Manager, which will be determined as a result of a transparent tender. These funds will be used for the Defense Forces of our country.

Repayment of loan obligations is a condition of the contract, and the agency is ready to review its terms. ARMA has already made a request for this. After all, the presence of provisions in the agreement on the terms of the loan, its fulfillment, the loan guarantor, additional collateral of the guarantor's property, or others can help in the approval of balanced government decisions.

Therefore, the NBU is already working on the issue of protecting the interests of the state-owned bank, the terms of its loan disbursement and repayment, as well as developing financial models for loan repayment.

Following the meeting, it was decided to continue cooperation between ARMA and Oschadbank to ensure the public interest.