The Ministry of Economy and Finance (MEF), through the Asset Management Office (GGA), has announced that the first assets recovered by the judicial authorities in the fight against crime will be auctioned off on 3 October.
According to the notice published on Thursday (19) by the MEF, buyers will get a 30 per cent discount on their appraised value. ‘The bidding base for assets subject to public auction is set at 70 per cent of their appraised value, as approved by the director of the Asset Management Office,’ says article 28 of Decree 31/2023, which approves the Regulations for the Management of Seized Assets and Administrative Procedures of the Asset Management Office.
The same publication states that among the assets to be auctioned are vehicles (light and heavy), motorbikes, tractors, trailers, containers, trailers, household appliances, various home furnishings, generators, water tanks and electricity transformers, among other equipment. However, it has not been possible to ascertain whether or not any assets have been seized as part of the ‘hidden debts’.
The Asset Management Office was created in 2020, by Law no. 13/2020, of 23 December, as a state body that oversees the area of state assets, with powers to administer assets and property seized or recovered as part of national judicial proceedings or acts arising from international legal and judicial cooperation.
Among the body’s functions is to determine the disposal, capitalisation, sale, assignment to public service or destruction of assets in the custody of the state or recovered.
