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23-07-2018

ARMA has preserved and returned asset to the owner

In March 2018, non-cash funds in an amount to 185 million UAH were transferred into ARMA management on the basis of the decision of the investigative judge of the Solomyansky District Court of Kyiv. However, the Court of Appeal of Kyiv has canceled the seizure of a part of the said funds. In this regard, in compliance with the requirements of part three of Article 20 of the Special Law, the National Agency has returned to the owner's account funds in the amount of about 100 million UAH and interest accrued on them.

At the same time, during the management of these assets, the National Agency has preserved the economic value of these funds by placing them on a deposit account at JSC “Oschadbank” at interest equal to the interest rates of the National Bank of Ukraine, which has ensured at least compensation for inflationary losses.

Thus, practice shows that the institution of management of seized funds acts simultaneously in the interests of the owner of funds and the state, ensuring their safety and preserving the economic value of such assets, is a safe and effective tool for returning seized funds to economic circulation.