The British authorities allowed the Irish “daughters” of STLC to conduct bankruptcy operations

The UK government has issued licenses that allow subsidiaries of the sanctioned State Transport Leasing Company (STLC) to conduct financial transactions related to bankruptcy proceedings. This, in particular, is about the companies GTLK Europe and GTLK Capital registered in Ireland, follows from the message press services the UK government.

1 June 2023 High Court of Ireland liquidated leasing companies GTLK Europe and GTLK Capital, after Russian Eurobond holders announced that their subsidiaries were unable to pay debts in the amount of $1.6 billion.

STLC, which is run by the Ministry of Transport and the Ministry of Finance of Russia, specializes in the leasing of railway and aviation equipment. The company’s structures came under EU and UK sanctions in April 2022. In August of the same year, blocking sanctions against foreign structures of STLC were introduced by the United States.

Erdni Kagaltynov