Chinese investors of Motor Sich notify Ukraine about submission of dispute to intl arbitration

Chinese investors of PJSC Motor Sich notified the government of Ukraine about sending an investment dispute to international arbitration in order to recover damages from Ukraine's government, estimated by them at $3.5 billion, according to a release on the website of the Ukrainian DCH group of Oleksandr Yaroslavsky, partner of these investors in the development of the Ukrainian aircraft industry.

"On December 5, 2020, the Chinese investors of PJSC Motor Sich sent the Ukrainian government an appeal to international arbitration against the governemnt of Ukraine, in accordance with the agreement between the government of Ukraine and the government of the PRC on the encouragement and mutual protection of investments," the group said in the document.

Earlier, DCH said the interests of Chinese investors will be represented by the WilmerHale, DLA Piper and Bird and Bird international law firms. Arzinger will act as an advisor on Ukrainian law in international arbitration.

DCH said that on September 4, 2020, Chinese investors sent a Notice of Investment Dispute to the Ministry of Justice of Ukraine. They claim that the Ukrainian authorities expropriated their investments, as well as violated their other rights provided for by the intergovernmental agreement on the encouragement and mutual protection of investments between Ukraine and China of October 1992.

Source: www.en.interfax.com.ua