The court will review ARMA’s powers in the case concerning the shares of “Morshynska”
This was reported by RBC-Ukraine, citing a response from the law firm Bargen, which represents the interests of International Distribution Systems Limited in court.
The Kyiv District Administrative Court has opened proceedings in a case concerning ARMA’s powers to manage the corporate rights of IDS Ukraine.
The IDS Ukraine group owns the “Morshynska”, “Mirgorodska” and “Alaska” brands.
The claim was filed by an IDS Ukraine shareholder – International Distribution Systems Limited.
The law firm Bargen, which represents the company’s interests in court, asserts that the National Agency for Asset Tracing and Management currently has no legal authority to dispose of this asset.
What is the dispute about?
The lawyers link the dispute to changes in legislation following the entry into force of Law No. 4503-IX on 30 July 2025.
According to them, previously ARMA could manage assets that had been seized only in the form of a prohibition on disposal.
Following the changes, the Agency, as the lawyers claim, has the right to manage only those assets that are simultaneously subject to a prohibition on disposal and a prohibition on use.
According to the lawyers, the corporate rights of IDS Ukraine have been seized only in the form of a prohibition on the disposal of shares.
There are no restrictions on use, they say. That is why the lawyers believe that after 30 July 2025, ARMA lost the right to manage the group’s assets.
Which of ARMA’s actions are being challenged
Bargen stated that after the new regulations came into force, ARMA continued to take action regarding the corporate rights of the group’s companies.
According to the lawyers, the Agency held public consultations on the management of corporate rights, a tender to select a valuer, an asset valuation, drew up a draft management plan and attempted to hold a tender for a manager.
This tender was subsequently cancelled.
The lawyers argue that all such actions, in particular the tenders for an appraiser and an administrator, are unlawful.
What the court might change
Bargen warns that the lawsuit poses risks for any potential asset manager.
If ARMA announces a new tender and selects a winner, and the court subsequently upholds the claim, the results of the tenders and the signed contracts may be deemed unlawful and annulled.
The lawyers also stated that, should a new tender be announced before the conclusion of the court proceedings, they would ask the court to apply interim measures – in particular, a direct ban on conducting such procedures.
In the lawyers’ view, a way out of the situation could be a complete restart of the procedure for transferring assets to ARMA’s management.
They believe that this would require new court orders for the seizure and transfer of the asset to the Agency.
What will happen if the claim is upheld
If the court confirms that ARMA lacks jurisdiction, this could mean that the Agency’s previous actions regarding IDS Ukraine’s corporate rights are deemed unlawful.
The court may also order ARMA to refrain from such actions in future.
“In effect, granting the claim will return the asset to the stage prior to its transfer to ARMA’s management: the asset will remain under seizure as part of criminal proceedings, but will fall outside ARMA’s sphere of responsibility,” stated Bargen’s lawyers.
What led up to this
Earlier, the High Anti-Corruption Court ordered NABU to launch an investigation into the actions of ARMA officials.
This concerns possible abuses during the management of the assets of the mineral water producer “Morshynska” and “Mirgorodska”.
As reported by ThePublic, ARMA plans to put the assets of the IDS Ukraine group, known for the “Morshynska” and “Mirgorodska” brands, up for auction again, after the preliminary selection of a manager was blocked by 12 identical technical complaints.
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