Legal

Court asked to appoint liquidators to Russian-state owned firms in $1.6bn debt

High Court told the companies have no prospect of survival, mainly due to sanctions imposed following the invasion of Ukraine

Mr Justice Conor Dignam said he would rule tomorrow afternoon on whether to wind up GTLK Europe Captial DAC and GTLK Europe DAC

The High Court has been asked to appoint liquidators over two Russian-state owned leasing companies after being told they have $1.6 billion in debt and no prospect of survival, mainly due to sanctions imposed following the invasion of Ukraine.

Mr Justice Conor Dignam said he would rule tomorrow afternoon on petitions regarding GTLK Europe Captial DAC and GTLK Europe DAC after hearing submissions from counsel for a group of four creditors owed $168 million by ...