The Chinese investor in the Motor Sich company (Zaporozhe), the largest manufacturer of aircraft engines and gas turbines in Ukraine, has described the Ukrainian authorities’ statements about possible nationalization of the company as unacceptable and threatened to file new lawsuits.
Citing the Interfax Ukraine news agency, the Economic Pravda publication reports that the owner of Skyrizon Aircraft Holdings (China), Wang Jing, made the statement to the media on behalf of Chinese investors.
According to Wang, such statements by the Ukrainian authorities will help Motor Sich’s Chinese investors to win international arbitration proceedings against Ukraine and secure compensation for their losses.
“We have already filed and we are preparing to file more lawsuits in both Ukraine and China, as well as internationally. We will vigorously defend and protect the legal rights of Chinese investors,” Skyrizon said in a statement.
Wang added that any statements or actions that harm Chinese investors would be used as evidence or the subject of legal proceedings and referred to the relevant judicial and law enforcement agencies.
Earlier, the Servant of the People parliamentary faction’s leader David Arakhamia said that the parliament would soon register a bill on nationalization of Motor Sich.
Before that, the Chinese investors of Motor Sich PJSC increased their international arbitration claim against Ukraine by USD 100 million to USD 3.6 billion.
Even before that, the Ukrainian National Security and Defense Council adopted a decision and the president of Ukraine issued a decree dated 28 January imposing sanctions on Chinese citizens and companies trying to exercise their rights as shareholders of Motor Sich for three years.
On February 1, the Ukrainian Ministry of Foreign Affairs received a note from the Chinese government regarding the imposition of sanctions on Motor Sich’s Chinese investors.