The arbitration manager is suspected of illegally selling the assets of the Kyiv Radio Plant

Law enforcement officers have reported suspicions to the arbitration manager who was carrying out the liquidation of the state joint-stock holding company Kyiv Radio Plant. He is suspected of abusing his powers during the sale of the company’s property at a significantly undervalued price. This was reported by the Kyiv police communications department.

Essence of the suspicion

According to the pre-trial investigation, in 2017 the suspect received powers to manage and dispose of the property of the bankrupt company. However, instead of ensuring maximum satisfaction of creditors’ claims, he implemented a scheme to alienate state property at a price that did not correspond to the market price.

In particular, the property complex, which included six production facilities and corporate rights, was sold to a private company for approximately UAH 10 million, while its real value, according to experts, exceeded UAH 60 million.

Violations of the law

Law enforcement officers also established that the sale procedure was carried out with gross violations of the law. In particular, it was not taken into account that the enterprise belongs to the defense-industrial complex, and therefore its privatization is prohibited by special legal norms.

Qualification and further actions

The arbitration manager was informed of the suspicion under Part 3 of Article 365-2 of the Criminal Code of Ukraine – abuse of authority by a person providing public services, which caused serious consequences.

The issue of choosing a preventive measure is currently being resolved.