Ukraine’s Asset Recovery and Management Agency (ARMA) has announced that it will pause the tender process for selecting a manager for the Gulliver multi-functional complex (MFC) in Kyiv. This decision was made by ARMA head Olena Duma, who stated that the agency will wait for official confirmation that the property is now owned by state-owned banks and that the court has lifted the asset seizure. The Gulliver MFC, a significant commercial property in Kyiv, has been a focal point of legal and financial disputes, particularly regarding its ownership and management.
The suspension of the manager selection process is a strategic move by ARMA to ensure that all legal and administrative procedures are properly followed before proceeding with the management of the complex. This step is crucial as the property has been subject to asset seizure and is now under the control of state-owned banks. The transfer of ownership is part of a broader effort to recover assets that were seized during the conflict and to ensure their proper management for the benefit of the state and the public.
Legal experts have noted that the timing of this decision aligns with ongoing efforts to resolve the legal status of the Gulliver MFC. The involvement of state-owned banks in the ownership process suggests a shift towards centralized control of key assets, which has implications for both the private sector and the government’s approach to asset recovery. Olena Duma’s announcement underscores the importance of adhering to legal formalities and ensuring transparency in the management of state-owned properties.