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Photo: uaengineer.com.ua
Motor Sich investors initiate arbitration proceedings with Ukraine
Attorneys WilmerHale, DLA Piper and Bird & were hired to arbitrate with the Ukrainian authorities for $ 3.5 billion.
The interests of the Chinese investors of the Motor Sich company in the international arbitration against Ukraine will be represented by three law firms among the most reputable in the world. This follows from a post on the DCH group’s website.
Three leading international law firms WilmerHale, DLA Piper and Bird & Bird will accompany the investment dispute of the Chinese investors of Motor Sich PJSC (DCH group partners in the development of the Ukrainian aeronautical industry) with the aim of recovering from the damage of the state from Ukraine in the amount of $ 3.5 billion. Arzinger will act in international arbitration, “the statement said.
The mentioned companies are leaders in the field of international arbitration. And among his partners, in particular, lawyers such as former FBI Director Robert Mueller and Douglas Emhoff, the husband of former California attorney Kamala Harris, who could take over as vice president of the United States under President Joe Biden.
Gary Bourne, Chairman of WilmerHale’s International Arbitration Practice Group, is also a well-known ideologist of the global concept of protecting the rights of investors and their investments.
As a reminder, on September 4, Motor Sich’s Chinese investors sent a notice of an investment dispute to the Ministry of Justice. They regard the actions of the Ukrainian authorities in relation to their assets as an attempt to expropriate their investments, which contradicts the 1992 Agreement on Reciprocal Promotion and Protection of Investments between Ukraine and China.
In 2016, Chinese investors acquired the corporate rights to Motor Sich, but to this day they cannot completely dispose of its ownership due to the blocking of the company’s activities by government agencies.
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