On 5 November 2024, the Commercial Court of Kyiv Region ruled to recover from the Russian Federation USD 154 million in damages caused to OJSC “Feodosia Shipbuilding Company “Morye” as a result of the aggression of the Russian Federation and the occupation of part of Ukraine's territory.

Feodosia Shipbuilding Company “Morye” is included in the list of enterprises having strategic importance for the economy and security of Ukraine. 100% stake in Feodosia Shipbuilding Company “Morye” belongs to the Ukrainian State as part of JSC “Ukrainian Defense Industry” (Ukroboronprom). The shipbuilding company specialised in military and civil shipbuilding, in particular, creation of military and multipurpose boats, hydrofoils made from light alloys.

In 2014, due to the military aggression of the Russian Federation, one of the leading shipbuilding companies lost control over its assets located in the Autonomous Republic of Crimea (Feodosia), and which were actually misappropriated by the Russian occupation authorities.

The company is in the process of financial rehabilitation under the supervision of Andriy Lytvyn, Attorney at Law, Head of Ilyashev & Partners’ Kharkiv Office, who was appointed as a rehabilitation manager. Despite the loss of the shipbuilding company’s assets due to the temporary occupation of Crimea, during the financial rehabilitation, the claims of the first-third and partially the fourth-priority creditors in the total amount of over UAH 170 million, included in the register of claims of the debtor’s creditors, were repaid in full.