Russia

Timing of examinership application by Russian-state owned firms ‘profoundly suspicious’ - High Court judge

Court was told the petition was brought following a decree from Vladimir Putin that the Russian state would forgive $1.5bn of the leasing firms’ debts

GTLK Europe Captial DAC and GTLK Europe DAC are seeking to be placed into examinership, a move described as “fatally flawed” by counsel for creditors

A High Court judge has described the timing of an examinership application by two Irish-registered Russian-state owned leasing firms as “profoundly suspicious”.

Mr Justice Brian O’Moore was referring to issues raised in an application brought by GTLK Europe Captial DAC and GTLK Europe DAC, which are seeking to be placed into examinership, a move described as “fatally flawed” by counsel for creditors.

The High Court was told that the examinership petition was being brought following ...