ARMA sold 460 hectares in Borzhava for 90 million: who became the owner and why it raises questions.

According to ТСН: The Asset Recovery and Management Agency (ARMA) recently held an auction in which it sold 460 hectares of land on the Borzhava meadow in Transcarpathia, raising UAH 89.5 million.

The lands were divided into three lots, and the auctions took place simultaneously. The bidding was conducted in a 'Dutch auction' format, where the starting price was gradually lowered until someone agreed to buy, allowing the parcels to be sold at effectively the lowest prices.

Auction Results

In particular, a plot of 26.7366 hectares was purchased by Andriy Vinhranovskyi for UAH 5.4 million, although the initial price was UAH 10.4 million. He also bought another plot — 199.1488 hectares — for UAH 39.1 million with an initial price of UAH 75.2 million. The lot with an area of 234.77 hectares was bought by Ihor Vlasuk for UAH 45 million, whose starting price was UAH 88.2 million.

Thus, the average cost of one hundred square meters of land was about UAH 2,000. However, earlier ARMA hoped that these lands would bring over UAH 1 billion.

Owners and Connections

According to Opendatabot data, Andriy Vinhranovskyi is the owner of LLC 'Ombria Investment', which is part of the corporate group of the Levochkin family. He is also the husband of Yuliya Levochkina. Ihor Vlasuk founded LLC 'Borzhava Asset', whose beneficiary is also mentioned as Vinhranovskyi.

Sergiy Levochkin, former head of the administration of President Yanukovych, is a people's deputy from the banned party OPZZh and has been implicated in several anti-corruption investigations, according to information from the 'Chesno' movement.

It is worth noting that on July 22, 2025, Levochkin supported draft law 12414, which complicated the activities of NABU and SAP. In August 2025, Bihus.Info journalists reported on regular meetings between Vladyslav Kaskiv and Levochkin, where issues related to the 'Borzhava' ski resort in Transcarpathia were discussed.

Previously, there were also cases when ARMA held a sale of confiscated paintings despite court bans, receiving funds but not allowing buyers to take their assets.

These events indicate a lack of transparency in the asset management process, raising concerns in society. The sale of lands at such a significant discount calls into question the effectiveness of ARMA's strategies and the transparency of the auctions, which may affect trust in state bodies in the field of asset sales.