She still exists, the Towarishtsh and former "Gorch Fock". But the big question is, wheather she'll ever sail the seas again or not. The neccessary repairs would cost some million Euro and any investor can be absolutely sure never to regain his money. Ukraina can't affort it either, and I guess they anyway should spend it for rather important purposes.
Since a while the ship lies in Wilhelmshaven hoping for donations and German sponsors. Originally Tall Ship Friends e.V. declared themselves responsible for the stay and maintenance, but walking around on deck I couldn't find any sign of the society. So I'm not quite sure anymore who really carries the flag - maybe one should pass it to the sponsors who covered the sails over and over with their logos.
But in fact this is not the really important point. Important is the upkeeping of hope, this beautiful old vessel will head for the high seas again one day, no matter who'll get the merits and neither, wheather she'll possibly be a luxoury cruise ship. It's the target, that matters.