Ukrainian asset recovery agency puts pro-Russian oligarch's car and watches up for sale

Ukraine’s Asset Recovery and Management Agency (ARMA) has decided to sell a Maybach car and 20 collectable watches belonging to Viktor Medvedchuk, a Ukrainian businessman and former leader of the banned pro-Russian party Opposition Platform — For Life.

Source: ARMA

ARMA will determine the auctioneer for the sale of Medvedchuk's assets on 25 April. The Agency will be accepting applications from companies that could potentially sell the Maybach and luxury watches until 19 April.

New rules require that all sales of seized assets must be carried out on Prozorro.Sale, the state-owned online electronic auction system.

Background:

• ARMA announced a tender for legal entities for the right to sell the Royal Romance, a yacht confiscated from Viktor Medchedchuk, further to a judgment of the Ukrainian and Croatian courts.
• The Cabinet of Ministers had approved the sale of the 92-metre yacht Royal Romance, owned by Viktor Medvedchuk's family and berthed in Croatia, to ARMA on 16 February.

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