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14 December 2018

Sayenko Kharenko assisted with setting-up ProZorro.Sale operator

Sayenko Kharenko has acted as a consultant to the European Bank for Reconstruction and Development (the EBRD) under the technical cooperation project “Open Government in Ukraine:  Support in implementation of e-government solutions based on Prozorro concept” in connection with setting up an entity to operate the electronic trade system “ProZorro.Sale”.

ProZorro.Sale, which is based on Ukraine’s internationally recognised e-government solution for public procurement called “ProZorro”, has brought transparency and achieved outstanding financial results in the sale of insolvent banks’ assets, state and municipal property. Top achievements of ProZorro.Sale team include the sale of insolvent banks’ assets for an aggregate value of more than UAH 9 bln (approx. EUR 281 mln), launch of on-line small privatisation and a pilot project encompassing the sale of permits for subsoil exploration and mining.

For an unprecedented combination of technological innovations and public interest purpose ProZorro.Sale has been recognized as the one of the world’s leading anti-corruption start-ups by CitiT4I – Challenge (2017) and received the anticorruption award “The Shield in the Cloud Innovation Challenge” by C5 Accelerate and the USA Institute of Peace (2018).

Sayenko Kharenko provided complex legal assistance to ProZorro.Sale Project Team and the Ministry of Economic Development and Trade of Ukraine on the stage of project institutionalisation, including advising on various corporate and contract law matters, preparing corporate documents for the state-owned enterprise aiming at implementing the best corporate governance practices to ensure efficient operation and sustainable work of ProZorro.Sale system.

The project was coordinated by the EBRD represented by Eliza Niewiadomska and Catherine Bridge Zoller. Maksym Nefyodov, First Deputy Minister at the Ministry of Economic Development and Trade of Ukraine provided active support and coordinated work of the Ministry’s team throughout the project.

ProZorro.Sale is developing very rapidly to address the needs of society. Today, we are the only small state-owned enterprise in Ukraine having a supervisory board within its corporate governance structure. Once the selection of candidates is completed, we will get active supervisory board and progressive corporate governance procedures that would finally complete the transformation of the project from the pilot to operational one. Thanks to joint efforts of the Ministry, the EBRD and Sayenko Kharenko, we managed to create sustainable environment for ProZorro.Sale“, said Oleksii Soboliev, acting CEO of “ProZorro.Sale” State Enterprise.

Sayenko Kharenko’s team involved in the project included associates Oksana Daskaliuk and Ilhar Hakhramanov, junior associates Tetiana Dyvak and Sviatoslav Kozak under the general supervision of partner Oleksandr Nikolaichyk.

ProZorro.Sale was also supported by Western NIS Enterprise Fund (WNISEF), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Transparency International Ukraine, Embassy of the Netherlands and charitable donations of Ukrainian business.

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