TI Ukraine supports ProZorro.Sale as the future administrator of electronic auctions for sale of property of bankrupt entities.
A new Code of Bankruptcy Procedures has been adopted in Ukraine. Under this Code, the property of bankrupt entities has to be sold through the electronic trade system.
Before, the property of bankrupt entities would sell off for ridiculous prices, with the procedure dragging out for several years. The new Code not only changes the procedure of sale, but also defines the key principles of how it should be carried out.
These principles include transparency, equal availability to everyone, non-discrimination, access to information guaranteed for everyone.
TI Ukraine believes that the ProZorro.Sale system is best compliant with these principles.
Director of the Innovation Projects Program Ivan Lakhtionov said, “It is very important for the Cabinet of Ministers to find a capable administrator for this system, because the success of the entire reform depends on it. ProZorro.Sale has demonstrated its transparency and efficiency multiple times. This system has already brought over UAH 17 billion of revenue to various entities.”
It is very important for the Cabinet of Ministers to find a capable administrator for this system, because the success of the entire reform depends on it.
Ivan Lakhtionov, Director of the Innovation Projects Program