Damien Murran and Julian Moroney of Teneo Restructuring Ireland, appointed by the Irish High Court in May 2023, have collected €41.5m in fees as joint liquidators of GTLK Europe and GTLK Europe Capital over two years.
Teneo earned €14.3m from December 2024 to May 31, 2025, and €15.7m (in the prior six months, with the liquidation expected to continue for another two-and-a-half years.
Additional costs include €27.6m in international legal fees, €3m (USD3.4m) in asset realisation costs, and €860,000 in aircraft parking fees.
The liquidation involves 70 subsidiary entities, €167m in debts, and assets including 70 aircraft and 19 maritime vessels valued at €4bn.
The liquidators have recovered €276m, sold five A220-300s and four A319-100s, and pursued legal action against Qatar Airways over unpaid A330 leases.
Damien Murran and Julian Moroney shared: “The companies could no longer conduct business. There are substantially more assets at the subsidiary level yet to be recovered, but the multi-jurisdictional nature of the insolvency makes doing so a complex and expensive business.”
