Case over ownership of Boeing engines begins

Three Irish-registered subsidiaries of a Russian company sues Dublin-based international aircraft equipment registration company

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 leased to a now bankrupt Russian airline.

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 leased to a now bankrupt Russian airline.

 

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 leased to a now bankrupt Russian airline.

The subsidiaries want a Florida USA-based aircraft leasing firm to discharge its interest claims on the engines from an international registry for aircraft equipment maintained by Aviareto Ltd, of Blanchardstown Corporate Park, Dublin.

Capablue Ltd, Pembroke Exchanges Ltd, and Richdale Investments Ltd, are Irish-registered subsidiaries of Moscow-based 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 without just cause or excuse.

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

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

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

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

They are also seeking damages against GAT for misrepresentation, slander of title and/or malicious falsehood.

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