On Friday, February 16, the Cabinet of Ministers of Ukraine approved the sale of the 92-meter yacht Royal Romance, owned by Viktor Medvedchuk's family and located in Croatia, to ARMA.
According to paragraph three of the Procedure for selecting legal entities to sell seized assets on a competitive basis, approved by the Resolution of the Cabinet of Ministers of Ukraine No. 558 of 09.08.2017, a tender for the sale of assets in the form of movable property located abroad and transferred to ARMA for sale is subject to the approval of the Cabinet of Ministers of Ukraine. Such approval has now been formalized by the relevant protocol decision of the Cabinet of Ministers of Ukraine.
Earlier, at the initiative of the Asset Recovery and Management Agency, the Cabinet of Ministers of Ukraine improved the procedure for the sale of seized assets and introduced the possibility of selling them abroad. The relevant changes were approved on November 14, 2023 by Government Resolution No. 1250.
These are historic changes that have improved the provisions of Government Resolutions No. 719 and 558, aimed at creating equal and clear, transparent conditions for the participation of organizations from around the world (non-resident legal entities) in the selection of sellers, which have the necessary experience in organizing competitive bidding at the international level in accordance with the best international practices and principles of auctions. The Procedure will enable the sale of high-value assets located abroad at the most favorable price.
As a reminder, the investigating judges of the Lychakiv District Court of Lviv seized the property of a non-resident legal entity LANELIA HOLDINGS LTD, namely the vessel (yacht) ROYAL ROMANCE, in criminal proceedings and transferred it to the ARMA for sale. In addition, the ARMA carried out extensive work on cooperation with the Office of the Prosecutor General of Ukraine, the Ministry of Justice of Ukraine, received a copy of the decision of the District Court of Split, and a copy of the decision (appeal) of the District Court of Split on the confiscation of the vessel and its transfer to the National Agency for further sale. Inquiries were made and responses received from all competent state authorities of the Republic of Croatia regarding the sale of the yacht.
The ARMA is convinced that the proceeds from the sale of the yacht will significantly strengthen the state budget and defense capabilities of our country, and that the traitors will be held legally and economically accountable.
