Business news from Ukraine


19 February , 2021  

Auchan Retail Ukraine expects to reclaim ownership of the land plot in Odesa, however, in the event of a negative result in the Ukrainian courts, the company will consider applying to international arbitration, since the price set by the Asset Recovery and Management Agency (ARMA) for this site is not fair and market-oriented, Head of Legal and Compliance of Auchan Retail Ukraine Ruslan Dubas told Interfax-Ukraine.

“On February 16, the first session of the Grand Chamber of the Supreme Court took place. We hope that the court will ultimately uphold the decision of the Pivnichny [Northern] Economic Court of Appeals and will defend property rights. Namely, it will confirm the invalidity of the results of electronic auctions, which alienated the land plot at a deliberately low price,” he said.

The companies Auchan Retail Ukraine and Ceetrus Ukraine, part of the Auchan holding, defend in the courts the rights to land plots in the village of Lymanka (formerly the village of Mizikevycha, Ovidiopolsky district, Odesa region) with a total area of about 27 hectares, previously seized as material evidence and sold at an auction at a reduced price.

“We cannot now assess the damage that the company experienced by the raiding. But the state of Ukraine has already suffered losses: at least UAH 1.6 million of court fees, which were collected by the executive service from ARMA, but in fact from the state budget,” Dubas said.

As reported, the Prymorsky District Court of Odesa in April 2019 seized land plots with a total area of about 27 hectares and transferred them to the management of ARMA. Subsequently, according to a court decision in the Unified State Register of Court Decisions, ARMA sold the plots transferred to its management at an auction at a reduced price for UAH 8.765 million.

Ceetrus Ukraine LLC (before June 2018 – Immoshan Ukraine) is an international developer of shopping centers and retail parks in the country.

Auchan Retail is an international retail company. Its first store was opened in France in 1961.

Auchan Retail Ukraine has been operating in Ukraine since 2008