Loss of property due to occupation: “Diya” launches new service for businesses

The Diya application has launched a new opportunity for Ukrainian legal entities – they can apply for compensation for losses due to loss of control over property in temporarily occupied territories.

This was reported by the State Enterprise “Diya”.

This is a new category C3.2 “Loss of control over property in temporarily occupied territories” in the International Register of Losses.

Claims are accepted for property over which a legal entity lost control on or after February 24, 2022 due to Russian occupation. Businesses may also record losses for property in territories that Ukraine subsequently liberated and where the owner has already regained control of the assets.

Ukrainian legal entities, regardless of their form of ownership, can apply. In particular, this applies to state-owned enterprises, business partnerships, state associations, and holding companies.

The application can be filed by the head of the legal entity or an authorized representative. In the latter case, the head must transfer the relevant powers through the “Digital Powers” service.

Under this category, companies can claim the value of property, lost profits due to occupation, and total loss of business. Property in this case is considered any tangible asset that has value.

The register of losses collects claims for losses and damages caused by Russia after February 24, 2022, as a result of its aggression against Ukraine. The recorded claims are intended to form the basis for future compensation.