How is the process of selling seized property and how are they distributed?

In accordance with Article 61 of the Law of Ukraine "On Enforcement Proceedings", the sale of seized property is carried out through electronic auctions or at a fixed price.

The electronic auction starts on the day specified in the information notice about the electronic auction. The electronic auction is held during one working day from 9 a.m. to 6 p.m.

All participants registered by the organizer have online access to the progress of the electronic auction. Participants put forward their price offers for the lot. The price offer is submitted through the Website ( https://setam.net.ua/ ) with the step of increasing the rate specified in the notice of the electronic auction. The winner of the electronic auction is the participant from whom the highest price offer was received at the time of the end of the electronic auction.

If one of the participants offered to purchase the property at the starting price and no other participants received offers to purchase the property, the property is sold at the starting price.

The allocation of funds, in accordance with Article 45 of the Law of Ukraine "On Executive Proceedings", takes place as follows:

1. first of all, the debt collector's advance payment for the organization and execution of enforcement actions is returned (I inform you that there is currently no need to pay an advance payment);

2. in the second place, the expenses of the executive proceedings, not covered by the debt collector's advance payment, are compensated;

3. in the third place, the demands of the debt collector are satisfied and an enforcement fee is charged in the amount of 10 percent of the amount actually collected or the main remuneration of a private executor in proportion to the amount actually collected from the debtor (except for executive documents on the collection of alimony);

4. in the fourth place, fines imposed by the executor in accordance with the requirements of this Law, and the executive fee or the main fee according to the executive documents on the collection of alimony are collected.

Distribution of monetary sums is carried out as they are collected.

In the event that the collected funds are not sufficient, they are distributed as follows:

1. first of all, claims secured by a pledge regarding recovery from the value of the pledged property are satisfied;

2. in the second instance, demands for the recovery of alimony, compensation for losses and damage caused as a result of a criminal or administrative offense, mutilation or other health damage, as well as in connection with the loss of a breadwinner are satisfied;

3. thirdly, the demands of employees related to labor relations are satisfied;

4. in the fourth place, the requirements of collectors for mandatory state social insurance, requirements regarding collection for mandatory state pension insurance, insurance contributions for mandatory state social insurance and requirements for taxes and other payments to the budget are satisfied;

5. in the fifth place, all other requirements are satisfied.