diff --git a/client/ayon_core/lib/ayon_connection.py b/client/ayon_core/lib/ayon_connection.py
index aaa7dd3b4d..5ee654943f 100644
--- a/client/ayon_core/lib/ayon_connection.py
+++ b/client/ayon_core/lib/ayon_connection.py
@@ -1,5 +1,6 @@
 import os
 
+import semver
 import ayon_api
 
 from .local_settings import get_local_site_id
@@ -9,6 +10,49 @@ class _Cache:
     initialized = False
 
 
+def _new_get_last_version_by_product_name(
+    self,
+    project_name,
+    product_name,
+    folder_id,
+    active=True,
+    fields=None,
+    own_attributes=False
+):
+    """Query last version entity by product name and folder id.
+
+    Args:
+        project_name (str): Project where to look for representation.
+        product_name (str): Product name.
+        folder_id (str): Folder id.
+        active (Optional[bool]): Receive active/inactive entities.
+            Both are returned when 'None' is passed.
+        fields (Optional[Iterable[str]]): fields to be queried
+            for representations.
+        own_attributes (Optional[bool]): Attribute values that are
+            not explicitly set on entity will have 'None' value.
+
+    Returns:
+        Union[dict[str, Any], None]: Queried version entity or None.
+
+    """
+    if not folder_id:
+        return None
+
+    product = self.get_product_by_name(
+        project_name, product_name, folder_id, fields={"id"}
+    )
+    if not product:
+        return None
+    return self.get_last_version_by_product_id(
+        project_name,
+        product["id"],
+        active=active,
+        fields=fields,
+        own_attributes=own_attributes
+    )
+
+
 def initialize_ayon_connection(force=False):
     """Initialize global AYON api connection.
 
@@ -23,11 +67,30 @@ def initialize_ayon_connection(force=False):
     """
     if not force and _Cache.initialized:
         return
+
     _Cache.initialized = True
+    ayon_api_version = (
+        semver.VersionInfo.parse(ayon_api.__version__).to_tuple()
+    )
+    # TODO remove mokey patching after when AYON api is safely updated
+    fix_last_version_by_product_name = ayon_api_version < (1, 0, 2)
+    # Monkey patching to fix 'get_last_version_by_product_name'
+    if fix_last_version_by_product_name:
+        ayon_api.ServerAPI.get_last_version_by_product_name = (
+            _new_get_last_version_by_product_name
+        )
+
     site_id = get_local_site_id()
     version = os.getenv("AYON_VERSION")
     if ayon_api.is_connection_created():
         con = ayon_api.get_server_api_connection()
+        # Monkey patching to fix 'get_last_version_by_product_name'
+        if fix_last_version_by_product_name:
+            def _con_wrapper(*args, **kwargs):
+                return _new_get_last_version_by_product_name(
+                    con, *args, **kwargs
+                )
+            con.get_last_version_by_product_name = _con_wrapper
         con.set_site_id(site_id)
         con.set_client_version(version)
     else: