The authorities are bending over backwards to avoid explaining the reasons for the illegal seizure of shares and blocking of Motor Sich activities in court after the Chinese company invested in the aircraft engine manufacturer. This was reported by the experts interviewed by the editorial board. They commented on the progress of the court proceedings to lift the seizure of Motor Sich shares at the request of one of its shareholders. To recap, Lidia Shchebuniayeva, the judge of the Shevchenkivskyi District Court of Kyiv City, refuses to involve the representatives of the Presidential Office, the Cabinet of Ministers of Ukraine, the Antimonopoly Committee of Ukraine, Ukroboronprom, the Security Service of Ukraine and the National Security and Defense Council of Ukraine in the hearing of the case on lifting the seizure and to let them explain to the court which “state interests” can be protected by the three seizures of Motor Sich shares after they were sold to the businessmen represented by Skyrizon in Ukraine.
“No one wants to have responsibility for outright criminality under the shelter of the state. After all, the seizure of shares of a private company under far-fetched pretexts is a sheer hostile takeover organized by the authorities! Someone must be responsible for it. However, when it came to a situation when someone has to take responsibility for this state raiding, i.e., to cover it up in court, there are fewer people who want to make statements about mythical state interests right away. Practically no one is willing to make comments!” Vladimir Tsybulko, a political scientist, commented on what is happening in court. According to experts, the judicial branch, in turn, makes every effort to secure the representatives of the authorities who are involved in the seizure of shares against explaining the true motives of their actions in court.
“Mythical “state interests” are just an excuse for further illegal blocking of Motor Sich shares. The reluctance of the representatives of the Presidential Office, the Government, the National Security and Defense Council of Ukraine, the Security Service of Ukraine and Ukroboronprom to appear in court is another clear proof that there is no mythical “state interests” in this deal between a private company and private investors. However, it is one thing to make statements in the media and take no responsibility but an entirely different thing to say the same in court officially,” Vadim Karasev, the Director of the Institute for Global Strategies, commented on the attempts of the statesmen to avoid any participation in a public trial.
To recap, the Shevchenkivskyi District Court of Kyiv City, which refused to challenge the investigating judge in the case on the seizure of Motor Sich shares, has adjourned the hearing today. The lawyers of one of Motor Sich shareholders consider the position of Lidia Shchebuniayeva, the investigating judge, to be biased, and her further participation in court proceedings to lift the seizure of Motor Sich shares casts doubt on the legality of further hearing in this case.
“We understand that the further hearing and legality of this case is highly questionable, and the further hearing of our motion will most likely not be impartial and comprehensive, but we are forced to have the hearing with this formation of judges, i.e., with the participation of Lidia Shchebuniayeva as the investigating judge,” Aleksandr Maksimenko, a lawyer who represents the interests of the Motor Sich shareholder, commented to journalists on today’s events in court.
The date of the next court session to hear the shareholders’ motion to lift the seizures of Motor Sich shares in the Shevchenkivskyi District Court of Kyiv City has not yet been set.
On August 18, the Court of Appeal of Kyiv City began hearing the case on the motion to lift the seizures of Motor Sich shares. The next hearing is scheduled for August 27, which everyone can watch via live streaming.
To recap, a group of Chinese investors acquired the equity rights of Motor Sich in 2016. Beijing Xinwei Technology Group disclosed certain material information about its activities and announced on the Shanghai Stock Exchange that Beijing Skyrizon, its subsidiary, and DCH, a Ukrainian company owned by Aleksandr Yaroslavskyi, together with its affiliated companies, submitted a new application on the purchase of Motor Sich shares to the Antimonopoly Committee of Ukraine (AMCU) on August 4.
Skyrizon’s board of directors, which owns a large stake in Motor Sich JSC, hopes that common sense will prevail in this situation, and the restrictions on operating in Ukraine will be lifted.
In turn, Aleksandr Yaroslavskyi, the Owner and President of DCH, urged to stop hindering the Motor Sich legitimate shareholders disposing of their property. Otherwise, the investors will go to international arbitration, which will undermine the Ukrainian investment attractiveness and cool the relations with the largest trading partner.
