Russia’s GTLK has moved to stop liquidators of Dublin based companies GTLK Europe DAC and GTLK Europe Capital DAC from litigating on 37 aircraft.
The liquidators are taking legal action against their parent company, the Joint Stock Company State Transport Leasing Company.
The parent company is attempting to register itself as the legal owner of 37 aircraft that liquidators claim belong to the liquidated firms.
The liquidation of GTLK Europe DAC and GTLK Europe Capital DAC was initiated earlier this year following allegations from four creditors claiming a debt of over €162.5m.
The parent company argues that it is entitled to ownership under pledge agreements governed by Russian law, which were made with GTLK Europe and other group companies based in Ireland. GTLK is Russia’s largest transport leasing business, with its international leasing operations located in Dublin.
