Courts / Dublin / Report

Aircraft leasing giant BOC gets $406m freezing order against Russian-owned firm

Summary

In a High Court hearing on 9 June 2023, Mr Justice Brian O'Moore granted BOC Aviation Limited a temporary freezing order, preventing the Dutch‑registered Volga‑Dnepr Logistics BV from reducing or moving assets below US$406 million. The order, an ex‑parte Mareva order, also appointed a receiver over the defendant's 68.7 % shareholding in its Irish subsidiary, Volga‑Dnepr (Ireland). The receiver, Declan Taite, was authorised to protect assets estimated at US$236 million, including three Antonov cargo aircraft in Leipzig, engines and bank accounts in Dublin, London and Frankfurt. BOC, represented by Bernard Dunleavy SC and Ross Aylward BL, sought the orders to secure assets after a New York court awarded BOC US$406 million in damages last April. The judge declined to order disclosure of the defendant's income or liabilities, noting it was impractical at this stage.

Who, what, where, when and why

What: Report matter: Aircraft leasing giant BOC gets $406m freezing order against Russian-owned firm. Procedural stage: hearing_or_decision

When:

• February 2022 Other
• March 2022 Other
• 2023-06-09 Publication

Why: BOC sought freezing orders, which are recognised globally, because it claims the defendant is taking steps to move assets in an attempt to frustrate a US$406M judgement the leasing company obtained last April in a New York Court against the defendants. CNI source report

Case subjects

Places mentioned

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Stage Hearing Or Decision

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Read the original CNI report