Joint Stock Company refused permission to appeal over aircraft pledges

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

Joint Stock Company was refused permission to appeal to the Supreme Court over aircraft pledges. The proceedings were reported on 25 October 2024.

The Supreme Court judges said the interests of justice did not require an appeal and that the Court of Appeal had followed established principles in finding that the company’s tactics were an abuse of process.

The Court of Appeal had dismissed the company’s appeal from a High Court order declaring the pledge agreements with its Irish subsidiaries void. It found the company had deliberately chosen not to participate in the High Court proceedings and that the appeal was an abuse of process.

The dispute concerns 37 aircraft, 36 of which were reported to be in Russia, valued collectively at more than €1.85 billion. The liquidators were using the High Court declaration in claims against aircraft insurers in Ireland and England.