ARMA Signs 17 Contracts for Valuation of Seized Assets, but Risks Remain for Their Implementation, – ILI
In June-August 2026, the Asset Recovery and Management Agency (ARMA) announced 27 procurements for the valuation of seized assets. Following 17 competitive procedures, the Agency signed contracts with five valuation companies worth UAH 1.04 million, while the total expected value of the procurements was approximately UAH 3.56 million. This is stated in a study by the Institute of Legislative Ideas.
“Significant savings of public funds are a positive financial result. However, for valuation services, a substantial reduction in price requires further assessment against the quality of the completed reports and the results of their review,” ILI analysts noted.
As of 31 August 2026, ARMA had signed four contracts each with PE “Sanata” and LLC “Trade-Expert Chamber of Ukraine,” three with PE “Standartgrup,” two with PE “Enter price LTD,” and one with LLC “Consulting Company ‘Uvekon.’”
“Such a distribution, in itself, does not indicate any violations. However, given the diversity of the assets subject to valuation, it is necessary to verify the actual capacity of each contractor to provide appropriate specialized expertise for the specific type of asset,” the experts explained.
They point out that conducting separate procurements can make the valuation process for seized assets more transparent, while at the same time creating a number of risks. These include, in particular, fragmentation of procurement procedures, the lack of publicly available information on the actual transfer of assets to ARMA, insufficient detail in asset descriptions, and the potential focus solely on the lowest price when selecting a valuer. This may be particularly critical for complex assets whose valuation requires specialized expertise.
“The main risk lies not only in the time required to conduct the valuation, but also in its quality. Different types of assets require different approaches: the valuation of a hotel, vessel, corporate rights, railway cars, or agricultural products cannot be reduced to the same technical procedure. A superficial valuation will affect management arrangements, expected returns, the monitoring of value preservation, and the ability to hold the manager accountable in cases of ineffective management,” ILI analysts warn.
Among their recommendations, they propose that ARMA:
- publicly explain the outcome of the procurement for the framework agreement;
- standardize asset descriptions in procurement procedures;
- publish aggregated information on how the expected cost of valuation services is determined;
- monitor the quality of valuations under procurements where the price has been significantly reduced.
“In future procurements, ARMA should pay greater attention not only to the valuer’s status and the proposed price, but also to the team, specialization, and proven experience in working with similar types of assets,” ILI emphasized.