According to Oschadbank, which coordinated the consortium, the asset was transferred into their ownership as part of a debt settlement from the complex’s ultimate beneficiary. Alexander Bevz, a representative of Ukreximbank, stated that the transfer of title was the result of coordinated efforts between the banks, the state, and legal advisors.
The banks reported that Gulliver had been pledged as collateral for a loan issued to Tri O LLC, which defaulted on its obligations, triggering foreclosure proceedings. Rosa Tapanova, a member of Oschadbank’s Supervisory Board, clarified that the asset is not subject to privatization — only management or sale are being considered.
Oschadbank urged current Gulliver tenants to contact its legal advisor, Sayenko Kharenko, to re-register lease agreements, emphasizing that the former owner no longer has legal grounds to collect rental payments.
Located in Kyiv’s Pechersk district, the Gulliver complex was inaugurated in 2013 and spans 151,800 sq. m. Its construction was primarily financed by Oschadbank, which extended a $460 million loan to Tri O. A debt restructuring process totaling over UAH 18 billion was completed in 2020.
In June 2024, the facility was placed under the management of Ukraine’s Asset Recovery and Management Agency (ARMA) by court order as part of an investigation by the Bureau of Economic Security into alleged tax evasion amounting to UAH 146 million. The director of Gulliver was formally charged in May 2023.
ARMA launched two management tenders for the asset but rejected all bids. According to ARMA head Olena Duma, the complex has a market valuation of UAH 7.6 billion, with a minimum expected monthly income exceeding UAH 17 million.
Investigative journalists from Schemes previously reported that Tri O LLC owed Oschadbank and Ukreximbank approximately UAH 14 billion and was allegedly controlled by former Mikhailivsky Bank owner Viktor Polishchuk, who was sanctioned in April 2025. However, corporate registry data from YouControl lists Vyacheslav Ihnatenko as the ultimate beneficial owner via Kyiv-based Mobil West LLC (40.63% stake). Other shareholders include UK-based Podemos (22.07%), BVI entities Badly Coast Limited (18.07%) and Levish Ventures Limited (9.23%), and Cyprus-based Hetiber Finance Limited (10%).
