Ukraine Has Simplified the Process for Lifting Freezes on Bank Accounts: What Will Change for Debtors

Starting October 23, the freeze on bank accounts will be automatically lifted once the debt has been fully repaid, without the need to contact enforcement officers or submit payment receipts.

The new mechanism will apply to debts of up to 86,470 UAH. Once payment is confirmed, the system will generate a notification on the same day, and the bank must lift the freeze no later than the following day.

In addition, the debt threshold for the seizure of a primary residence has been raised from 20 to 50 minimum wages—up to 432,350 UAH. 

For military personnel during martial law and for one year after its conclusion, protection against the seizure of their primary residence for debt has been provided, except for exceptions specified by law.

Source: Ministry of Justice of Ukraine.

The accounts of the state-owned enterprise “Ukrspyrt” have been frozen pursuant to a decision by the state enforcement officer dated May 24. The company reports that the accounts were frozen as part of the State Enforcement Service’s enforcement of a decision dated September 11, 2014, to collect fines totaling 186.96 million UAH.

The Economic Security Bureau seized nearly 820 pieces of jewelry at the “Malva Jewelry Factory” in Vinnytsia as part of an investigation into alleged tax evasion totaling 9.9 million hryvnias. According to investigators, the company may have used a scheme to artificially fragment its business.

The Asset Recovery and Management Agency (ARMA) has put 100 seized Russian-made railroad cars up for sale. The lot includes 80 open cars for industrial and bulk cargo and 20 covered cars. According to the agency, their technical condition was assessed as good or satisfactory during a visual inspection.