Russian State-Owned Lessors Bid to Avoid Irish Liquidation Order

Two state-owned Russian leasing firms based in Ireland have sought to prevent the appointment of a liquidator to wind-up their affairs by lodging a “last minute” application for an examiner to be appointed.

The Irish High Court was due to hear an application on Monday brought by four of the firms’ creditors for the winding up of Kremlin-backed aircraft and shipping leasing firms GTLK Europe DAC and GTLK Europe Capital DAC. The application was brought on the basis that the firms were insolvent and unable to pay their debts.

The companies on Friday brought an application for an examiner ...