Sunday 25 September 2016

Dublin High Court to hear Russia-US aircraft dispute

Tim Healy

Published 09/02/2016 | 02:30

The subsidiaries are suing Aviareto and GA Telesis (GAT) of Fort Lauderdale, Florida. Photo: Getty Images/Ingram Publishing
The subsidiaries are suing Aviareto and GA Telesis (GAT) of Fort Lauderdale, Florida. Photo: Getty Images/Ingram Publishing

A Dublin-based international aircraft equipment registration company is being sued by three Irish-registered subsidiaries of a Russian company which says it owns 20 Boeing engines which it had leased to a now bankrupt Russian airline.

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Moscow-based VTB Leasing's subsidiaries want a Florida-based aircraft leasing firm to discharge its interest claims on the engines from an international registry for aircraft equipment which is maintained by Aviareto Ltd, of Blanchardstown Corporate Park, Dublin.

Capablue Ltd, Pembroke Exchanges Ltd, and Richdale Investments Ltd, are the Irish-registered subsidiaries of VTB Leasing.

They leased the engines to Transaero Airlines which was declared bankrupt in Russia last December.

The subsidiaries are suing Aviareto and GA Telesis (GAT) of Fort Lauderdale, Florida. GAT claims to be a substantial creditor of Transaero arising out of maintenance agreements for the engines.

The subsidiaries claim GAT does not have any registrable non-consensual right or interest in the 20 engines. They also say the registration of rights with Aviareto was done with any just cause or excuse.

They say last October and November they wrote to GAT demanding it discharge that registered interest.

GAT responded saying it holds a security interest in the engines arising out of its agreement with Transaero.

Mr Justice Brian McGovern yesterday admitted the case to the Commercial Court on consent between the parties.

VTB Leasing's subsidiaries are seeking orders including that GAT procure the discharge of its interest from the international registry and, if it fails to, that Aviareto does so.

Irish Independent

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