Taking advantage of the existence of criminal proceedings and purporting to exert pressure on the Client, the pre-trial investigation authority appealed to the State Property Fund of Ukraine seeking conduction of a review of property valuation reports prepared by the Client for the purpose to bring the latter to account under disciplinary procedures.
Currently, misleading practice is common in Ukraine. According to such practice, a review drawn up regarding a property valuation report is used as the basis for bringing the appraiser to disciplinary responsibility.
At the same time, reviews regarding valuation reports are not indisputable, but simply express the opinion of another appraiser equal in its status to the one, whose report is under review.
Thus, the analysis showed that reviews of the Fund’s personnel do not withstand any criticism, while the shortcomings that led to the conclusion that property valuation reports prepared by the Client do not meet regulatory requirements are inaccurate and ill-defined.
In order to protect Client’s interests, experts at ALEXANDROV&PARTNERS analyzed all options possible. In particular, we offered a preventive actions algorithm to avoid adopting the decision by the Examination Commission of the State Property Fund of Ukraine aimed to bring the Client to disciplinary liability. We have also worked out an action plan should a negative decision on this matter be passed.