RC Vozdvyzhenka Appeals to President and National Security and Defense Council on Risks to Institution of Seized Property Management Due to ARMA's Actions

Vozdvizhenka Housing Management Company (VHMC), one of the most efficient managers of ARMA, claims that the institution of managing seized assets is threatened by the Agency's actions. The existing risks may lead to the fact that sanctioned Russian citizens will be able to regain actual control over seized assets in Ukraine. Representatives of the HACC publicly appealed to the President, the Government and the National Security and Defense Council to resolve this critical situation. This was discussed at a press conference held by the Company's representatives at Interfax-Ukraine on April 17, 2024.

Gennadiy Piontkovsky, a representative of the sole participant of Vozdvyzhenka Housing Association, and Olga Shabelnyk, the company's director, revealed what could be behind ARMA's statements about the desire to terminate the management agreements with the housing association and what the consequences might be.

Gennadiy Piontkovsky completely refuted the previous statement of ARMA of April 5, 2024, which referred to the alleged "improper management" of assets. He cited data that showed that the lion's share of ARMA's income from the management of seized assets is provided by the Housing and Utilities Department:

"The total amount that we have paid to the budgets of all levels since the start of the management of seized property has reached almost UAH 177 million, including UAH 16 million in 2024. ARMA's remuneration for this period amounted to UAH 94.5 million, including almost UAH 10 million in 2024. According to ARMA, the housing offices "instantly" - in less than 2 months - turned from one of the best managers to the worst. But the numbers speak for themselves. For 2019-2023, the Housing Office has more than 400