Court rejects GTLK application over $2bn plane fleet

Mr Justice Rory Mulcahy said that the Russian jet lessor’s application to stay a High Court ruling was ‘misconceived’

GTLK Europe DAC and GTLK Europe Capital DAC, Irish-based subsidiaries of JSC, were placed into liquidation last May in a move that marked the largest court-ordered winding up in the history of the Irish state

A sanctioned Russian state-owned leasing company failed to show that altering a High Court ruling was necessary, a judge has ruled.

Mr Justice Rory Mulcahy said the application of Joint Stock Company GTLK (JSC), the parent company of the GTLK Europe group, was “misconceived”.

JSC had sought to place a stay on the execution of declarations made by Mulcahy last year. These deemed Irish liquidators, and not JSC, to be the legal owners of 37 ...