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The Court Summoned the De Facto Head of Motor Sich for Questioning in the Case of the Arrest of the Shares of the Company

Kyiv. September 8. UNN. The arrest of Motor Sich shares is an unprecedented example of state raiding. Thus, the state freezes the situation at the enterprise in its political interests. It was stated by the lawyers of the company-shareholder JSC Motor Sich, commenting on the results of the meeting of the Shevchenkivskyi District Court of Kyiv on Tuesday, September 8, UNN reports.

The lawyers repeatedly asked the court to summon as witnesses some officials during the trial, in particular, Oleg Uruskyi, the Minister for Strategic Industries, Aleksey Danilov, the NSDC Secretary, Olga Pishchanskaia, the Head of the AMCU, Aivaras Abromavichyus, the Director of UkrObonProm, Igor Kravchenko, the Director of SE Ivchenko-Progress, as well as Viacheslav Boguslaev, the director of JSC Motor Sich and Viktor Lunev, the Financial Director of JSC Motor Sich, as the representatives of the company.

The investigating judge refused to summon representatives of state bodies but decided to summon Viacheslav Boguslaev, the honorary president of Motor Sich JSC, as a witness who has been de facto running the enterprise for 30 years. According to the lawyers of the shareholder company, the testimony of the actual head of the enterprise will help to establish the motives of the management of JSC Motor Sich to sell the shares, as well as understand the current financial condition of the enterprise due to the long-term seizure of shares.

The lawyers recalled that there has been a deterioration in the dynamics of performance indicators since the intervention of the SSU in the economic activities of JSC Motor Sich in 2017 and the imposition of the first arrest. In particular, the net financial result decreased from about UAH 2.8 billion in 2017 to about UAH 0.6 billion in 2020, and today the sales indicator has also reduced to about 40% of the 2017 numbers.

Lawyers of the shareholder company insist that if the seizure of shares in the company is not lifted, it will lead to the destruction of the Ukrainian industrial giant, instead of an attempt by the state to preserve it.

The next court hearing is scheduled for September 14.

Let us recall that the Kyiv Court of Appeal refused to remove the arrest from the shares of JSC Motor Sich and summon the representatives of the authorities to the meeting on August 27. According to the lawyers of the shareholder company, the state puts pressure on the owners of the shares, and the arrest itself is contrary to the current legislation, the case materials and common sense.

Earlier, the judge of the Shevchenkivskyi District Court of Kyiv also acknowledged the absence of state interests in the Motor Sich’s case.

Chinese investors from the Skyrizon company sent a notification to the Ukrainian government about their intention to begin international arbitration against the state of Ukraine, demanding compensation for damage in the amount of $3.5 billion on September 4.