We know everything about bankruptcy
25/06/2025
Wednesday
25 June 
1970 Chinese authorities accused Google of distributing pornography and banned an access to it.
1970 Chinese authorities accused Google of distributing pornography and banned an access to it.
1970 Slovenia and Croatia declared independence from Yugoslavia.
1970 Slovenia and Croatia declared independence from Yugoslavia.
1970 Mozambique gained independence
1970 Mozambique gained independence.
THE VOLGA-DNEPR STRUCTURE WAS ORDERED TO PAY $ 200 MILLION TO IRISH LESSORS
The Dutch defendant company is part of the Russian Volga-Dnepr aviation group. AerCap is a global leader in the leasing market.
The initiators of the lawsuit against the structure of the aviation group were four Celestial Aviation from Ireland ("subsidiaries" of AerCap). The reason for the proceedings is rooted in contracts that were concluded between 2017 and 2021.
The agreements assumed that the Dutch subsidiary would lease 8 airliners, guaranteeing the fulfillment of obligations on the part of the sister structures of the Russian group. The names of these campaigns are not advertised. However, they were the ones who became involved in the trial of unfulfilled obligations.
The situation has worsened against the background of events related to the outbreak of a special military operation on the territory of Ukraine. The Irish lessors have decided to terminate the lease agreements. According to the plaintiffs, the guaranteed payments were never made, which was the reason for the appeal to the court.
The trial has not been completed, since the decision concerns an interim payment, an amount intended to protect the interests of the plaintiffs and ensure the possibility of collecting funds if the final decision is made in their favor. According to experts quoted by Vedomosti, such measures are standard practice in international commercial disputes.
It should be noted that against the background of the sanctions imposed against Russia, Volga-Dnepr Logistics faced difficulties in securing its legal positions. In particular, restrictions on cooperation with British lawyers forced the company to apply for a special license from OFSI, which was obtained only in July 2024.
By now, the money with which it would be possible to pay the debt has been blocked in the account at the Dutch ING bank. The account is under the control of the sanctions authorities. Unblocking it requires permission from the US office responsible for controlling foreign assets.
