“We have been waiting for two years, and finally we have: ARMA puts Russian shopping center “Flagman” on ProzorroThe Flagman shopping center in Ivano-Frankivsk has finally been put up for sale on Prozorro after 2 years under ARMA’s management.
The facility worth UAH 309.7 million belongs to Russian owners and is to be sold at an auction on February 25.”, — write: unn.ua
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Back in October 2022, the Flagman shopping center was transferred to the management of ARMA. This is a small three-story shopping center in Ivano-Frankivsk owned by Euroinvestbud LLC, a company controlled by residents of the Russian Federation. It has been recognized as material evidence in criminal proceedings and has been in the custody of the Asset Recovery and Management Agency for more than two years.
It was only after journalists drew attention to this inaction that the agency announced in September that it would launch a tender for a manager for this asset.
However, the agency managed to make a “big breakthrough” only in February 2025, when the facility was finally put up for sale on Prozorro. But the question remains: why did it take so long from the announcement of the tender to its start?
The agency, of course, was justified in saying that it took more than two years to prepare the tender documents and assess the market value (UAH 309.7 million).
As a result, we have a situation where the agency has not been able to organize the process of transferring the management of a facility that could have long been generating revenue for the budget.
Of course, ARMA promises that the future manager will transfer part of the income to the budget on a monthly basis and even pay a guarantee payment if the shopping center does not make a profit. However, it is not known when this will happen, as the asset has only been put up for auction on Prozorro and not yet put under management. According to ARMA’s plan, the auction should start on February 25. Then the agency will have to check the bidders for ties to former beneficiaries and Russia and select a manager. However, it should be remembered that each bidder has the right to appeal the conditions set by the ARMA to the AMCU, and accordingly, as the law shows, the auction may be delayed for at least several months.
This situation only emphasizes the systemic problems in the agency’s work. It is ironic that while the ARMA leadership is organizing high-profile PR campaigns, anti-corruption experts have repeatedly emphasized that most of the assets transferred to the agency are idle or do not reach their real managers at all.
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Recently, the current head of the Asset Recovery and Management Agency, Olena Duma , received “excellent” in her performance evaluation in 2024. This means that she will not only retain her position, but will also receive a bonus for her “outstanding achievements.
However, numerous scandals around the agency call into question the transparency and effectiveness of its leadership. Thus, under Olena Duma’s leadership, ARMA has repeatedly been at the center of high-profile scandals. One of the most recent was an investigation into possible fake disability certificates received by agency employees. Experts have emphasizedthat if the allegations are confirmed, this should not only be grounds for resignation, but also an impetus for a large-scale review of the agency’s work.
In addition, anti-corruption organizations have repeatedly criticized the agency for not meeting European standards. They emphasized populism, contradictory communication and violation of the presumption of innocence by ARMA officials.