Irish court asked to wind up Russian-owned aircraft and ship leasing companies

The High Court in Dublin has been asked to wind up two Kremlin-owned Irish firms worth €4bn. The petition was filed by the Irish company’s former CEO, who claims that he has been left owed millions by the firms, which are reportedly controlled by Russian President Vladimir Putin. It is yet another twist in the complex web of international finance and politics involving Russia and Ireland. The case is expected to garner significant interest and scrutiny from legal experts and political analysts alike.


Two aircraft and ship leasing companies registered in Ireland, owned by the Russian Federation, have been petitioned by four creditors for winding up in the largest such action ever taken in the country. GTLK Europe DAC and GTLK Europe Capital DAC have a joint value of €4.11bn ($4.5bn) and their liquidation is being sought on the grounds that the economic sanctions imposed on Russia following its annexation of Ukraine in 2014 have undermined the leasing group’s business. The companies own 70 aircraft and 19 sea vessels, with clients including Emirates, Easyjet, and Aeroflot.


The High Court’s recent call to wind up two Kremlin-owned Irish firms worth €4bn marks a significant development in the ongoing investigation into Russian influence in Ireland. The decision to liquidate these companies sends a clear message that Ireland will not tolerate any illicit financial activities within its borders, particularly those linked to foreign governments. It also shows the serious measures being taken to prevent the abuse of Irish corporate structures for nefarious purposes. This decision highlights Ireland’s commitment to preserving its reputation as a responsible and rule-of-law-abiding jurisdiction. As this story continues to unfold, it’s clear that Ireland will remain vigilant in its efforts to combat any potential threats to its economy and national security.