Russian court confirms Transaero owes $177.6 mln to Irish companies
MOSCOW, January 16 (RAPSI) – The North-Western District Commercial Court has upheld a ruling to include a 10.1-billion-ruble (about $177.6 million) debt owed by bankrupt Transaero airline before several Irish companies in the creditors demands list, the court documents read.
On July 19, 2017, the Commercial Court of St. Petersburg and Leningrad Region granted motions filed by Sky Castle 1 Limited, Sky Castle 2 Limited and Sky Castle 3 Limited to include the debt into the list. The ruling was appealed by creditors of Transaero, including Gazpromneft-Aero, RN-Aero and Russian Agricultural Bank.
In December of the last year, the Supreme Court of Russia upheld a lower court’s ruling including the airline’s 38.3 billion-ruble (about $655.8 million) debt before Irish company VEBL-767-300 in the creditors demands list. This decision was also contested by the creditors, who believe that the foreign firm did not provide proof of inflicted damages.
On September 13, the Commercial Court of St. Petersburg and Leningrad Region declared Transaero bankrupt.
Transaero found itself unable to pay its debts valued at 250 billion rubles (about $4 billion) in 2015. The government-approved plan of transferring 75% of company’s shares to Aeroflot failed. Its problems resulted in a large number of flight cancels and delays.
In October 2015, Sberbank and Alfa Bank filed bankruptcy petitions against the troubled airline. The Commercial Court of St. Petersburg and Leningrad Region initiated bankruptcy procedure against Transaero on December 16.