Chinese investors of PJSC “Motor Sich” are claiming $ 3.5 billion fine in international arbitration against Ukraine. This is stated in the address of the owner and president of the DCH group Oleksandr Yaroslavsky to the President of Ukraine Volodymyr Zelensky, Prime Minister Denys Shmyhal, Chairman of the Verkhovna Rada Dmytro Razumkov and Speakers of the Verkhovna Rada factions.
Oleksandr Yaroslavskyi reminds that investors of PJSC “Motor Sich” reported the beginning of a $ 3.5 billion investment dispute with the state of Ukraine to the Ministry of Justice. According to world practice, 3 months are allotted for the pre-arbitration settlement of the situation, which did not take place in this situation. There are a few days left until the beginning of consideration of the dispute on PJSC “Motor Sich”.
“Chinese investors of PJSC “Motor Sich”, including Skyrizon Aircraft Holdings, aim to seek fair settlement of the dispute through international arbitration. Already for 4 years, they have not been able to exercise the rights of shareholders due to the actions of the Ukrainian authorities in violation of the Ukrainian Chinese Investment Protection Agreement. The experts are convinced that the Ukrainian authorities have no reason to prevent investors from PJSC “Motor Sich” from contributing to the development of the Ukrainian economy. Thus, it is highly probable that the International Arbitration Court will support the same opinion" - Yaroslavsky said in a statement.
Three leading international law firms, such as WilmerHale, DLA Piper and Bird & Bird, will represent the interests of Chinese investors of PJSC Motor Sich. According to the websites of these companies, they are the leaders in the field of international arbitration. In particular, there are many prominent lawyers among their partners, including former FBI Director Robert Mueller and Douglas Emhoff, the husband of Vice President-Elect Kamala Harris. Gary Bourne, the Head of the WilmerHale International Arbitration Practice Group, deserves special attention. Mr Bourne is widely recognized as a preeminent global authority figure in international commercial arbitration and international litigation. Most bilateral and multilateral intergovernmental agreements on investment and investor protection are based on his developments.
Alexander Yaroslavsky emphasizes that the situation with PJSC "Motor Sich" is getting worse.
“I consider it my own duty to try to prevent the events that could damage the financial condition of the state and its reputation. However, such damage is already close. PJSC "Motor Sich" is losing professionals and is standing idle without access to markets and investments. The situation is getting more complicated and you have a chance to put an end to the violation of the rights of PJSC “Motor Sich”. The sooner this is done, the better for Ukraine, the region and the staff of the company it will be. I ask for your participation in the fate of PJSC “Motor Sich” before it's too late" - Yaroslavsky urges.
The businessman emphasizes that DCH has a successful experience of enterprise «revival» and can act as a guarantor of Ukraine's interests in the implementation of the Ukrainian-Chinese aviation industry project, as well as a guarantor of Ukraine's interests in the situation with PJSC “Motor Sich”.
“If someone is concerned about the compliance of the agreement of private legal entities with the national interests of Ukraine, the DCH group, having acquired 25% +1 of PJSC "Motor Sich" shares is a guarantor of their observance There are plenty of examples of in the DCH portfolio where infusions and effective management have brought businesses back to life and success” - he writes.
Oleksandr Yaroslavsky is among the TOP-10 Ukrainian businessmen according to Forbes Ukraine-2020. He owns the DCH group, which in the early August announced the beginning of cooperation with Skyrizon Aircraft Holdings: "The parties will conduct comprehensive cooperation by carrying out activities to improve the Ukrainian aircraft industry jointly and, in particular, PJSC Motor Sich in Zaporizhzhia. DCH Group has experience in enterprises “revival”, as was demonstrated by the Kharkiv Tractor Plant, the Dnipro Metallurgical Plant, and the Sukha Balka mine. DCH Group manages the work of Kharkiv Airpot. Also, it is involved in Dnipro Airport building project.