Courts declare invalid no more than 5% of online auctions for the sale of seized assets, which are listed by State-Owned Enterprise System of Electronic Trading in Seized Property (SETAM) under the Ukrainian Justice Ministry.
The relevant statement was made by SETAM CEO Roman Osadchuk in a commentary to Ukrinform.
“Currently, our legal department has about 1,300 active court cases. In our experience, in most cases, courts recognize online auctions as legitimate. Only up to 5% of cases are online auctions declared as invalid by courts for reasons that are beyond our control,” Osadchuk told.
In his words, the owners of seized assets try to appeal against either the assessment of their market value or the actions of the State Enforcement Service employees. If such claims are sustained, this creates grounds for canceling the procedure for the sale of seized assets.
A reminder that, since 2015, State-Owned Enterprise System of Electronic Trading in Seized Property (SETAM) had sold almost 90,000 lots through online auctions, totaling UAH 27.7 billion. Now, about 4,000 property items transferred by enforcement agencies are kept in SETAM’s warehouses and sites.
Source: Share of appeals against seized property auctions held by SETAM not exceed 5%
