On November 5, 2024, the Economic Court of Kyiv region ruled to recover $154 million from the Russian Federation for the damages caused by Russian aggression and occupation of part of Ukraine’s territory to Feodosia Shipbuilding Company More, part of Ukroboronprom.

“In 2014, due to Russia’s military aggression, one of the leading shipbuilding companies lost control over assets located in the Autonomous Republic of Crimea (Feodosia) that were appropriated by the Russian occupation authorities,” the press service of the Ilyashev & Partners law firm, which handled the lawsuit, told Interfax-Ukraine.

The law firm clarified that More is currently undergoing judicial rehabilitation, and Andriy Lytvyn, a lawyer and head of the Kharkiv office of Ilyashev & Partners, has been appointed as the rehabilitation manager.

It is noted that despite the loss of assets of the shipyard due to the temporary occupation of Crimea, during the rehabilitation procedure, the claims of the first-third and partially fourth queues included in the register of creditors' claims were fully paid off in the total amount of more than UAH 170 million.

More Shipyard is included in the list of enterprises of strategic importance for the economy and security of the state. Some 100% of it belongs to the state represented by Ukroboronprom. The shipbuilding company specialized in military and civil shipbuilding, in particular the creation of military and multi-purpose boats, hydrofoil vessels from light alloys.

As previously reported by the Interfax-Ukraine agency with reference to deputy head of the President's Office Iryna Mudra, as of early April 2024, Ukrainian courts have issued at least 397 decisions on compensation for damages caused by military actions of Russia, and this number is constantly growing. At the same time, according to the official, such a path has questionable effectiveness in contrast to the international compensation mechanism being created.

"The main problem is that the execution of such court decisions is virtually impossible: today in Ukraine there is no legal mechanism for the execution of decisions on the recovery of funds from the Russian Federation," Mudra said in an interview with the Interfax-Ukraine agency.