GTLK Europe firms wound up after examinership bid fails

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

The High Court ordered GTLK Europe DAC and GTLK Europe Capital DAC wound up on 31 May 2023, after rejecting their examinership application.

Justice Conor Dignam appointed Damien Murran and Julian Moroney of Teneo Restructuring Ireland as joint liquidators to the Irish-registered aircraft and shipping leasing firms.

The companies are Russian state-owned and were estimated to be worth €4.11 billion; their liquidations were described as the largest in the State’s history.

The judge found the examinership application lacked good faith and that the companies had not shown a reasonable prospect of survival through the process.

The ruling followed creditors’ petitions to wind up the companies and the firms’ own application for examinership.