The company claiming to manage the Gulliver shopping center has tax debts worth millions of hryvnias

Alakor City LLC, which is currently the only bidder for the management of one of the largest shopping and entertainment centers in the capital, Gulliver, has significant financial problems. As it became known from the data of the Unified State Register of Court Decisions, , the State Tax Service of Ukraine requires Alakor City LLC to pay more than UAH 66 million to the budget, UNN reports.

Details

Alakor City is in trouble with the tax authorities due to a significant amount of debt. The tax authorities in Kyiv claim that the company has understated its VAT liabilities by over UAH 28 million, and has been assessed a fine of over UAH 7 million, and has understated its income subject to income tax by over UAH 170 million (the estimated 18% income tax would be over UAH 30 million).

The courts had previously supported Alakor City, but the Supreme Court of Ukraine on 17 December 2024 in case No. 320/8946/23 partially reversed the decisions of the previous instances and sent the case back to the court of first instance for reconsideration. This means that the tax problems of Alakor City LLC have not yet been resolved, and now the court of first instance must again consider the company’s objections to the tax authorities’ claims. This time, however, it will take into account the conclusions of the Supreme Court of Ukraine, which disagreed with the cancellation of the tax assessment notices.

It is ironic that the Gulliver shopping center was transferred to the management of the ARMA as seized material evidence in the criminal proceedings on tax evasion.

The head of the Asset Recovery and Management Agency (ARMA), Olena Duma, has stated that she has set strict criteria for future managers who must meet high standards and guarantee stable revenues to the state budget from the management of seized assets.

However, against the backdrop of information about tax claims against Alakor City for tens of millions of hryvnias, questions arise: does this company meet the announced criteria and high requirements stated by Ms. Duma? Is this company, having its own debts to the state, able to ensure effective management of the Gulliver shopping center and stable flow of funds to the state treasury?

Given Alacor City’s financial problems, there are reasonable concerns about the company’s ability to effectively manage a huge asset in the center of the capital. Doesn’t the state risk losing potential profits if the management is transferred to a structure that has not been able to cope with its own tax obligations? Wouldn’t such a company try to evade payments to the budget by appropriating the management income?

Recall

On October 30, the ARMA announced a tender to select a manager for the Gulliver shopping center . Earlier, a number of media outlets reported on the ties of Alakor City LLC  with Russians and the entourage of former President Petro Poroshenko.

UNN journalists conducted their own investigation that confirmed these facts. The owner of Alakor City is businessman Dmytro Adamovsky, the son of scandalous businessman Andriy Adamovsky. Although Adamovsky Jr. now claims to be an honest Canadian citizen, according to our information, he still holds Russian citizenship. He probably received a passport of the aggressor country back in 2005.