Two companies owed bondholders $3.75bn in 2023, half of it to Russia-based investors, and had assets valued at $4.5bn
The liquidators of two Irish aircraft and ship leasing companies owned by the Russia n government aim to have sold 17 planes – or half the firms’ fleet outside of Russia – by early next year, according to sources.
All told they are expected to have closed deals on vessels making up half the value of the 19-strong fleet owned by the firms when they were put into liquidation last year.Guinness flows but Diageo’s profits dry upThe High Court ordered in May 2023 that the two Russian state-owned aircraft and shipping leasing firms be put into liquidation on foot of an application by four creditors who claimed they were owed more than $175 million by them.
“The process of realising assets on behalf of creditors is now well under way and progress to date has been positive. Ongoing remarketing efforts for a considerable number of the aviation assets, and for maritime vessels, have attracted strong interest,” the joint liquidators said in a statement to The Irish Times in response to questions.
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