The Kyiv city Court of Appeal continued the consideration of the complaint from another shareholder company of JSC Motor Sich regarding the arrest of the company’s shares. However, the hearing was postponed due to the prosecutor’s failure to come.
This was reported to RBC-Ukraine by Aleksandr Maksimenko, a lawyer representing the interests of the shareholder company JSC Motor Sich, following the results of the court session in the Kyiv city Court of Appeal on October 28.
Due to the failure of the prosecutor to come, the judge postponed the session until November 24 at 4:30 pm. The failure of the prosecutor to come was justified by an increase in the growth of patients with COVID-19.
‘There is no official lockdown in the country, all state bodies (including the courts and GPO) are working, so there is no good reason for the prosecutor’s failure to appear at the hearing. However, the court still postpones the hearing. Such actions of the GPO may well be regarded as sabotaging the trial in the absence of counterarguments against the cancellation of the seizure of the enterprise’s shares and deliberately delaying the trial. And while the GPO sabotages the consideration of the appeal, JSC Motor Sich continues to suffer losses and cannot return to usual functioning,’ the lawyer said.
According to the lawyer, the case where 4 arrests were imposed on the same property of the company is political and used solely for the purpose of implementing certain unfriendly actions of the state in relation to the company’s investors.
‘The Motor Sich case is an example of raiding at the state level. In fact, the state invites investors, investors buy shares of the enterprise for a lot of money, and immediately after that, the shares are seized. As a result, the owner has not been able to exercise their corporate rights and to influence the activities of the enterprise in any way,’ sums up Maksimenko, the lawyer.
Earlier, due to the failure of the investigator and the prosecutor to appear in court, the judge decided to postpone the hearings in the case of the arrest of JSC Motor Sich share to November 4 and 10. The lawyers are convinced that this is an apparent ignorance of the court session by law enforcement officers in order to deliberately delay it. At the same time, according to the lawyer Aleksandr Maksimenko, if the arrest on the company’s shares is not cancelled, new petitions from other shareholder companies may appear.
‘The lawsuits will continue until each shareholder exercises the right to protect their corporate rights. Why should the authorities create a situation where the courts will literally be covered with a wave of lawsuits in the Motor Sich case, if it is possible once and for all to solve the problem of cancelling the illegally imposed arrests in a case in which no accused or investigative actions have appeared in three years,’ said the lawyer.
According to the lawyer, the case where 4 arrests were imposed on the same property of the company, is political and used solely for the purpose of implementing certain unfriendly actions of the state in relation to the company’s investors.
Besides, arrests and bans on shares worsen the financial position of JSC Motor Sich: the company’s profits decreased several times, the depressing financial condition of the company and its uncertain future caused about 8 000 employees to leave the company.
On September 4, Chinese investors from Skyrizon sent a notice to the Ukrainian government about their intention to begin international arbitration against the state of Ukraine, demanding compensation for $3.5 billion in damages.
As RBC-Ukraine stated, Skyrizon and DCH applied to the AMCU for the third time for permission to concentrate the shares of Motor Sich on October 28.
