Legal

Russian-state owned firms wound up in largest liquidation ever in Ireland

Move will be complicated by ongoing sanctions against Russia

Mr Justice Dignam said he was appointing liquidators after refusing an examinership petition on the basis that it was not exercised in good faith

Liquidators have been appointed over two Russian-state owned leasing companies with $1.6 billion in bond debt and which were once valued at $4.5 billion.

Julian Moroney and Damien Murran of Teneo Restructuring Ireland were appointed joint liquidators over GTLK Europe Capital DAC and GTLK Europe DAC by Mr Justice Conor Dignam.

The move marks the largest corporate winding up in the history of the Irish state, although it will be complicated by ongoing sanctions and ...