Troostwijk Auctions, an auction house from the Netherlands, has refused to continue negotiations on signing an agreement to organise the sale of Viktor Medvedchuk's seized yacht Royal Romance.
This was announced by the head of the Asset Recovery and Management Agency (ARMA), Olena Duma.
The ARMA does not name the reasons for Troostwijk Auctions' refusal to organise the auction, citing confidentiality. But the reasons are "definitely related to Medvedchuk's resistance," Duma said.
Now, instead of Troostwijk Auctions, the auction will be organised by Boathouse Auctions from the United States, which was the second highest bidder for the yacht. ARMA has already received official confirmation from Boathouse Auctions that negotiations have begun.
"We are discussing in detail all legal issues and legal safeguards for the auction... The yacht must be sold, and the proceeds from its sale must strengthen Ukraine's defence capability against the enemy!" Duma emphasised.
The ARMA has also applied to the Prosecutor General's Office, law enforcement agencies of Ukraine and Croatian authorities to extend the temporary arrest measures, as provided for by Croatian law.
The 92-metre yacht Royal Romance with an estimated value of UAH 200 million has been managed by ARMA for sale since April 2022. The yacht has six floors and is equipped with two lifts. Among other things, the yacht has four decks, a cinema, a gym, a swimming pool, a spa area and a beauty salon, as well as about 50 rooms for various purposes.
It took a year and a half to approve the mechanism for its sale abroad (as the yacht cannot be delivered to Ukraine due to the war).
In December 2022, ARMA said it had received confirmation from four international auctions of their interest in organising the sale of the yacht. In April, the Commission for Competitive Selection selected Troostwijk Auctions among three bidders to organise the sale of the yacht.