Chinese investors prepare to sue Ukraine for $3.5 billion over Motor Sich
Chinese companies Skyrizon and Xinwei Technology, which own shares in the Ukrainian aviation company "Motor Sich" hired three international law firms to sue Ukraine for 3.5 billion dollars, reported Ukrainian partner of these Chinees companies, DCH Investment Management, which is owned by the Ukrainian oligarch Oleksandr Yaroslavskyi.
The law firms WilmerHale, DLA Piper и Bird & Bird will be representing the Chinese side. The law firm Arzinger will be an advisor on Ukrainian law.
The Chinese companies said they want to recover $3.5 billion from Ukraine because of the harm caused by the "expropriation of their investments." In addition, they accuse the Ukrainian authorities of violating their rights, which are provided by the agreement between China and Ukraine on the promotion and mutual protection of investments.
On August 24, 2019, a representative of Motor Sich reported that Chinese companies had bought shares of the plant.
On August 27, at the press conference in Kyiv, U.S. National Security Adviser John Bolton said that he would try to convince the Ukrainian government of the danger of cooperation with China. The Chinese embassy then called Bolton's words "unfriendly."