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The court seized the property and 100% of the shares of Motor Sich JSC

The court seized the property and 100% of the shares of Motor Sich JSC

The Shevchenko District Court of Kiev, based on the materials of the Security Service of Ukraine, seized the integral property complex and 100% of Motor Sich shares.

As reported on Saturday by the SBU press center, based on the results of the judicial review, the property was transferred to the management of the National Agency of Ukraine for the identification, search and management of assets received from corruption and other crimes (ARMA) with the obligatory definition of a management company that has a state form property.

According to the report, the Main Investigation Department of the SBU is currently carrying out pre-trial investigations of Motor Sich in two directions.

The first - on the basis of crimes provided for in Articles 14, 15, 111 and 113 of the Criminal Code of Ukraine (regarding sabotage and subversive activities in favor of the Russian Federation).

The second - on the basis of crimes provided for by Articles 209, 212 and 364 of the Criminal Code of Ukraine. It examines violations of legislation during the initial privatization and subsequent illegal concentration of shares.

“This is not only about the fate of one enterprise, but about how the state is able to protect its own interests. Since the preservation of the Ukrainian Motor Sich is a matter of national security, "the press center quotes the head of the SBU Ivan Bakanov.

The state-owned enterprise will continue its work in accordance with the requirements of the current legislation, with the preservation of jobs and the fulfillment of obligations within the framework of production orders, the SBU notes.

On March 12, Secretary of the National Security and Defense Council of Ukraine Oleksiy Danilov said that at a meeting of the NSDC on March 11, it was not about the nationalization of the Zaporozhye Motor Sich enterprise, but about its return to the ownership of the Ukrainian people in accordance with current legislation.

Chinese Foreign Ministry spokesman Zhao Lijian, in turn, stated that China requires Ukraine to protect the legitimate interests of Chinese investors in connection with the decision to nationalize the Motor Sich enterprise, more than 50% of which is owned by Chinese companies.

The Chinese shareholders of Motor Sich initiated an arbitration against the state of Ukraine in December last year for $ 3.6 billion. 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. The Chinese plaintiffs are represented by international law firms WilmerHale, DLA Piper and Bird & Bird.

According to the group's opinion DCH Alexander Yaroslavsky, most likely, the orders of Chinese buyers for Motor Sich will be canceled, and the enterprise will de facto go bankrupt and leave both the national and international aircraft market. Following him, significant problems will be experienced by KB "Ivchenko-Progress", FED, SE "Antonov", which will ultimately lead to the destruction of the Ukrainian aircraft industry.

According to a source in the Ukrainian government, at present, about 75% of Motor Cich shares are already owned by a group of Chinese owners, and some part of the disputed block of shares acts as collateral for financing provided, among other things, by China Development Bank.

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