The Appellate Chamber of the High Anti-Corruption Court of Ukraine has closed the proceedings on the prohibition of the sale of assets belonging to a state traitor
A decision has been made to close the proceedings regarding the appeal filed by representatives of the Asset Recovery and Management Agency (ARMA) against the ruling of the High Anti-Corruption Court (VAKS).
The Ministry of Justice maintains a consistent stance on the assets of sanctioned individuals in cases where there are grounds and evidence for the imposition of confiscation sanctions. The agency emphasizes that irreversible confiscation of assets is only possible within the framework of the sanctioning procedure as determined by the High Anti-Corruption Court.
This legal position protects the state from future compensations and the risk of returning property to its owner. The confiscation of sanctioned assets entails the irreversible transfer of property to state ownership without the right to compensation for the former owner. Conversely, in the case of the sale of seized property within the framework of criminal proceedings, if the case is closed without a confiscation verdict, all proceeds from the sale must be returned to the owner after the case is closed and the seizure lifted, reports the Ministry of Justice of Ukraine.
It is worth noting that on December 25, 2024, the High Anti-Corruption Court issued a ruling prohibiting the National Agency of Ukraine for the Detection, Investigation and Management of Assets Acquired from Corruption and Other Crimes (ARMA) from selling movable and immovable property, including that which belonged to state traitor Viktor Medvedchuk and his wife Oksana Marchenko. This prohibition applies exclusively to those assets located within the territory of Ukraine.
On January 8, 2025, the ARMA agency filed an appeal against this ruling.
On January 23, the Appellate Chamber of the High Anti-Corruption Court closed the appellate proceedings following the review of this appeal.
At the same time, the head of ARMA Olena Duma believes that the prohibition on the sale of Medvedchuk's assets could aid him in contesting sanctions in the European Court. She stated that “the VAKS ruling will create negative precedents for other assets, such as Medvedchuk's yacht, the sale of which could replenish the budget by billions of hryvnias, and this has repercussions for Ukraine on an international level.”
In addition to the global rejection by international partners of such Ukrainian decisions regarding traitors, EU law will take into account decisions made in Ukraine and refer to them.
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