Liquidators bring aircraft ownership case against GTLK parent

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

The joint liquidators of two Irish-based GTLK leasing firms have brought High Court proceedings against their Russian State-owned parent over ownership of about 37 aircraft. The proceedings were reported on 21 November 2023.

Damien Murran and Julian Moroney said the aircraft, which are based in Russia, were assets of the firms in liquidation. Their counsel, Stephen Byrne, said the parent was attempting to register itself as their legal owner.

The parent, Joint Stock Company State Transport Leasing Company, claimed that Russian-law pledge agreements entitled it to register as owner. The agreements were allegedly made in March 2022, and the parent said they secured repayment of loans made between 2017 and 2022.

The liquidators disputed the parent's claim to title and sought orders setting aside the agreements, as well as declarations that they were void and unenforceable under Irish law and that the liquidators retained title. The report said the liquidators had asked the parent to consent to the orders and declarations but had received no response.

Mr Justice Mark Sanfey granted the liquidators permission, on an ex parte basis, to serve notice of the proceedings by email on the parent and notice parties. The matter was due to return before the High Court the following week.

This report covers an earlier stage of the case. Later developments are not reported here.