One Thousand UAH in Capital and Billion-Level Assets: "Stop Corruption TV" Prepares an Investigation into ARMA's Tender to Manage "Morshynska"

How Morshynska ended up in a law firm with a thousand hryvnias of capital – soon a Stop Corruption TB investigation

This week Stop Corruption TB will publish a video investigation into how LLC Legal Bureau Priority, with a charter capital of one thousand hryvnias, became the winner of the competition for managing seized assets of IDS Ukraine – one of the largest mineral water producers in Ukraine.

The story concerns a group that owns the Moroshynska, Mirgorodska, and Alyaska brands. According to the company, IDS Ukraine controls over 40% of the bottled water market, and its revenue in 2025 year was 7,4 billion hryvnias. The assets were handed over to ARMA management through a link of some shares with the under-sanction Russian oligarch Mikhail Freidman.

21 September ARMA Commission named Priority the winner of the contest. According to registries, the company has a capital of one thousand hryvnias, about 8,4 thousand hryvnias in net profit for 2025 year, and one person on staff. The decision has already drawn the attention of Anastasia Radina, head of the Parliament's Anti-Corruption Committee.

Journalists of Stop Corruption TB studied the documents that Priority submitted for the competition and visited addresses of companies connected with the winner.

In the investigation:

why management experience was confirmed by lease agreements for a printer, laptops, and a bookshelf between structures led by the same person;

what discrepancies in document dates the lawyer and a member of parliament consider possible signs of fictitiousness or forgery;

who is Serhiy Herman, entrusted with Moroshynska's business strategy, and how is he connected to the competitor – Rosynka;

to whom business connections around the winner lead, including the proposal of a bank guarantee and the chain that Anastasia Radina pointed out;

why the asset valuations of Moroshynska differ by about 3 billion hryvnias and what this threatens.

Meanwhile the contest outcome is being decided in court: 29 September the Dnipro City Administrative Court temporarily prohibited ARMA from signing a contract with Priority and transferring assets to it.

We sent inquiries to ARMA and the State Bureau of Investigation and are awaiting responses.