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ARMA's strict criteria for selecting manager of Gulliver shopping center upheld by the Antimonopoly Committee of Ukraine

07-11-2024

The management of high-profile seized assets, including the Gulliver shopping center, continues to attract significant attention not only from the media but also from other authorities.

Recently, ARMA announced a competition to select a manager for the Gulliver shopping center. The National Agency applied the strictest possible approach to the selection of the manager of this high-profile asset.

In accordance with Article 16(2) of the Law of Ukraine “On Public Procurement”, ARMA has established all four possible qualification criteria for the future manager, which emphasizes the importance of transparent and professional management of the facility.

Despite an appeal by one of the companies regarding the allegedly discriminatory terms of the tender documentation, the Commission of the Antimonopoly Committee of Ukraine for Review of Complaints on Violations of Public Procurement Law found no violations by ARMA and left the appeal without consideration. Thus, the decision of the Antimonopoly Committee of Ukraine confirms ARMA's position on maximum strictness and transparency of requirements for a potential manager.

ARMA also sent a letter to Oschadbank, in which it emphasizes the following: 

- Corporate rights and funds on the company's accounts were not transferred to ARMA's management

- The rights of financial institutions as creditors remain unaffected

- The fulfillment of loan obligations depends solely on the borrower

ARMA has previously received an official response from the bank regarding the existing loan debt and the collateral of the shopping center owner.