Seized property without a manager: why preserving assets is the weak link
The contest for the head of ARMA is a reminder that seizing an asset is not enough, because without a manager it loses value. Creditors and debtors need to know who is responsible for the property while the dispute continues.
What happened
On 26 October 2026 the government announced a repeat contest for the head of the National Agency for Detection, Tracing and Management of Assets Derived from Corruption and Other Crimes (ARMA). The previous contest ended without an appointment: in April the commission did not support the only candidate who had passed the selection. According to Transparency International Ukraine, it took on average 17 months from an asset being placed on the agency's balance to a contest for a manager being announced.
My position
Seizure, or including an asset in the liquidation estate, is only the beginning. A building without heating, a warehouse without security, a business without a manager or a crypto wallet without access quickly lose value. Then everyone loses: creditors receive less, the debtor loses an asset that could have repaid debts, and the state loses revenue. So the question "who manages it" should stand next to the question "who seized it".
In bankruptcy this role is played by the arbitration manager, who prepares the inventory and valuation, arranges security and looks for a buyer. In other proceedings, how fast a manager is chosen directly affects what remains of the property.
What to do now
- Check the status. A creditor should find out from the registers of encumbrances whose management a debtor's asset is under.
- Record the condition of the property. A debtor is advised to keep photos, acts and inventories as of the time of seizure.
- File a motion. In a dispute, ask for measures to preserve the value of the property.
- Check an asset before buying. Its legal status and any seizures should be established before the deal.
This is my professional position, not individual advice: the details depend on the circumstances of the proceedings.