State-owned Oschadbank will soon announce the start of the sale of the Gulliver Retail and Office Complex (ROC) at an auction on the Prozorro public procurement platform, the bank’s CEO Yuriy Katsion said at the Forbes Banker forum on Thursday.
“We will soon announce the start of the sale of this complex at an auction on the Prozorro platform,” Katsion said.
The bank managed to seize the collateralized property and take it onto its balance sheet despite significant resistance and pressure from the former owner, who had long failed to fulfill his obligations.
Katsion emphasized that the Gulliver case is of historical significance for the investment climate and changes in banks’ lending approaches, as it demonstrated that the institution for protecting creditors’ rights works, and this allows the bank to adopt a more flexible approach to securing credit operations.
Despite numerous obstacles and attempts to block the complex, Oschadbank managed to fully restore its operations: as of February 1, the facility is operating normally, and nearly all tenants have returned to their usual activities.
As reported, on July 26, 2025, a decision was made to register state ownership of the Gulliver shopping center under a consortium comprising Oschadbank (80% – lead) and Ukreximbank (20%). This property served as collateral for the loan obligations.
The foreclosure proceedings were initiated by the two state-owned banks due to the failure of Tri O LLC—the debtor and owner of the complex—to fulfill its obligations under the loan agreement.
Following the meeting of Oschadbank’s Emergency Commission on October 30, a decision was made to recognize the situation that had arisen—including due to the refusal of Tri O LLC employees to transfer control of the Gulliver shopping mall’s critical engineering systems—as dangerous to human life and the operation of the complex.
On December 1, 2025, Oschadbank’s Emergency Commission decided to begin the phased reopening of the Gulliver complex following the resolution, in certain parts of the building, of the circumstances that led to the emergency.
