Matter
GTLK Europe Designated Activity Company v Swan Hellenic Cruises Limited (High Court of Ireland [2023] IEHC 674)
Aliases: GTLK Europe DAC v Companies Act 2014
- 31 August 2022Ireland
31 August 2022Ireland
High Court summary judgment decision dated 31 August 2022
High Court of Ireland
- Decision summary
- The High Court declined Swan Hellenic’s application for a declaration that it was entitled to exercise the charter’s purchase option, principally because it was not then in a position to pay the stated purchase price.
9 months later · 273 days
- 31 May 2023Ireland
31 May 2023Ireland
High Court order winding up GTLK Europe Designated Activity Company dated 31 May 2023
High Court of Ireland
- Decision summary
- The High Court ordered the winding up of GTLK Europe and appointed joint liquidators, establishing the liquidation context for the later directions applications concerning the company and its assets.
1 month and 10 days later · 41 days
- 11 July 2023Ireland
11 July 2023Ireland
High Court directions order concerning the Sanctions Regulation dated 11 July 2023
High Court of Ireland
- Decision summary
- The High Court declared that the presumption of control by JSC GTLK over GTLK Europe was rebutted by the appointment of joint liquidators and that GTLK Europe’s assets, including its shares in STLC, were under their control.
20 days later · 20 days
- 31 July 2023Ireland
31 July 2023Ireland
Judgment of the High Court of Ireland dated 31 July 2023
High Court of Ireland
- Citation
- [2023] IEHC 486
- Decision summary
- The High Court addressed the winding up of GTLK Europe and GTLK Europe Capital and the effect of sanctions on their companies and assets, including the control acquired by joint liquidators over GTLK Europe’s shares in STLC.
4 months later · 123 days
- 1 December 2023Ireland
1 December 2023Ireland
Judgment of the High Court of Ireland in case 2023/88 COS dated 1 December 2023
High Court of Ireland
- Citation
- [2023] IEHC 674
- Decision summary
- The High Court upheld the joint liquidators’ preliminary objection to Swan Hellenic and the other applicants’ section 631 directions application. It held that the questions concerning contractual liability for the stranded SH Minerva, the effect of sanctions and Russian ownership, and enhanced due diligence required pleadings, evidence, contractual interpretation and a plenary hearing rather than determination in a directions application; the substantive issues could proceed in the existing plenary action.
Supporting details
13 authorities · 9 participants- Application
- Whether GTLK Europe and its subsidiaries could recover damages for unpaid lease payments while the vessel could not be used — Not suitable for determination in a section 631 directions application
- Application
- Whether GTLK entities should be identified with the Russian Federation for contractual liability arising from sanctions — Not suitable for determination in a section 631 directions application
- Application
- Whether the joint liquidators could require enhanced due diligence absent a prima facie sanctions breach — Not suitable for determination in a section 631 directions application
GTLK Europe Designated Activity Company
Swan Hellenic Cruises Limited
Catstans Holding Limited
Valbridge Limited
Diamant SA
Fastlead Limited
Maracol Limited
STLC Europe Nine Leasing Limited
High Court of Ireland
- Judge
- Michael Quinn