The sale of the megayacht Royal Romance threatens Croatia with losses of 130 million euros: Ukrainian billionaire and ‘European chicken king’ Kosyuk could become Its new owner

Ukrainian billionaire and “European Chicken King” Yuriy Kosiuk, the owner of MHP, which acquired the Croatian company Perutnina Ptuj, is purchasing the yacht Royal Romance.

Currently, the yacht is in Croatia. At midnight on May 26, the ban on the disposal of the megayacht Royal Romance, which is docked at the Trogir shipyard, will expire. However, it remains unclear what will happen next: whether the Ukrainian Agency for the Recovery and Management of Assets (ARMA), which has already organized the sale, will take the vessel or not.

Unofficial sources indicate that a buyer for the yacht has already been found. However, Russian citizen Alexey Inkin, who is documented as having previously purchased the vessel and is considered its owner, is suing Croatia for more than 35 million euros in damages incurred due to the imposed disposal ban. This amount could increase several times, reaching more than 130 million euros, according to his lawyers, if international legal forums are involved.

The history of the yacht Royal Romance is complex. It is unofficially linked to Ukrainian politician Viktor Medvedchuk. In 2022, Ukraine sought international legal assistance from Croatia to obtain property seized from Viktor Medvedchuk as part of a treason case. This case is further complicated by a decision from the Lviv District Court on April 11, 2022, which cites a previous decision to confiscate the yacht based on information obtained during pre-investigation actions in Medvedchuk’s case in 2016.

However, there are no original documents from 2016, and the outcome of that case is unclear. In the 2022 court decision, they refer to the 2016 decision, citing articles of the criminal code under which Medvedchuk’s property is confiscated, and adding charges of treason. This year, Ukraine placed Medvedchuk under sanctions, and the West also imposed sanctions against him.

Lawyers have documented that Viktor Medvedchuk is not the owner of the vessel. According to their information, Inkin, through his company, began acquiring the yacht from Medvedchuk’s wife, in whose name it was registered, at the end of 2020. They add that the vessel is registered in the Malaysian ship registry and has a court order for deregistration or ownership change. Ukraine considers the transfer to Inkin a cover-up and publicly states that this is “the first sale of confiscated assets abroad.” Ukraine also emphasizes that Croatia transferred ownership rights to the vessel, and the auction was initially organized by the Dutch auction house Troostwijk Auctions, which suddenly withdrew. The auction will now be organized by the American company Boathouse Auctions.

Between February 26 and 28, ARMA representatives were in Croatia. Representatives of Lanije Holding claim that the investigating judge of the Split District Court, Mladjan Prvan, handed over the yacht’s technical documentation to them, against which Lanelia Holdings filed an appeal with the Supreme Court, and the case was reviewed by Judge Marin Mrčela.

Sources familiar with the situation suggest that the Ukrainian side already has a buyer. Names mentioned include Yuriy Kosiuk, the Ukrainian billionaire and “European Chicken King,” or someone from his family. Kosiuk is the majority owner of MHP, which acquired Perutnina Ptuj and owns Perutnina Ptuj – Pipo from Čakovec. Recently, his poultry farm purchased land from the city of Ludbreg, where another farm is planned.

Three days before the ban on the yacht’s disposal expired, intervention and special forces arrived in Trogir, reported lawyer Eamon Chaudhry, who was monitoring the situation on-site. At that time, about ten crew members were on the yacht, including Russians who had arrived a few days earlier, and one Belgian citizen.

According to the lawyer, all Russian citizens have been residing in the EU since at least 2005, some even earlier—in Germany or France. They all have regulated long-term residence and work permits in the European Economic Area. The Russians were ordered to leave Croatia within one day. Police responded to journalists’ inquiries, stating that foreign citizens were found on the yacht, and their legality and purpose of stay in the Republic of Croatia are being checked in accordance with the Foreigners Act.