According to Russian media reports, the Arbitration Court of the Yaroslavl Region has initiated bankruptcy proceedings against the local Yaroslavl Shipbuilding Plant (YaSZ). Related hearings are expected to commence in late March to verify whether claims against the shipyard are sufficient to trigger full bankruptcy proceedings.
Court documents reveal that bankruptcy proceedings against the Yaroslavl Shipbuilding Plant stem from its failure to pay a total of 14.4 million rubles (approximately $181,900) in repair fees owed to the Nakhodka Ship Repair Yard (NSRY).
Reports indicate that the bankruptcy petition against Yaroslavl Shipbuilding Plant was filed by PRO Factor, which had acquired NSRY’s claims. The debt pertains to repair work on the Russian Navy’s Project 23470 ocean-going icebreaker tug Kapitan Sergeev.
According to available information, Yaroslavl Shipbuilding Plant is one of Russia’s major shipyards, possessing the capability for complete ship design, construction, commissioning, and modification. It can handle high-requirement special vessels and anti-corrosion and explosion-proof systems, and its main business is the construction of military and civilian ships.
In 2019, Yaroslavl Shipbuilding Plant was added to Western sanctions lists. By 2022, as the Russia-Ukraine conflict intensified and Western sanctions escalated, the plant faced comprehensive restrictions on financing, technology imports, and international orders.
Due to tax arrears, the Yaroslavl Shipbuilding Plant faced severe wage arrears by the end of 2025, with most employees unable to receive timely payments. This forced some workers to take unpaid leave and led to the suspension of operations at certain plant facilities.