Chinese investors of Motor Sich increase amount of lawsuit against Ukraine to $3.6 billion
Topics: CHINESE MOTOR SICH
The increase of the estimated amount of damages is due to the fact that the initial group of claimants was recently expanded to include several other Chinese shareholders who also sustained significant losses as a result of Ukraine's actions in violation of its international obligations.
The investment dispute shall be considered by an ad hoc arbitral tribunal, which the parties are now in the process of forming.
As announced earlier, the Chinese investors initiated an arbitration against the State of Ukraine in December 2020 concerning Ukraine’s violation of its international obligations regarding their investments in PJSC Motor Sich. ■