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Ukraine Shall Place World’s Largest Aircraft On Compulsory Sale

News date: 13 October 2017

On 11 October the State Strategic Enterprise “Antonov” applied to Sviatoshynskyi District Court of Kyiv with the motion on granting the permission on the enforcement of the judgment delivered by the International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry (ICAC at the Ukrainian CCI) concerning the recovery of more than UAH 32 million from Executive Authority for Special Flights (Libya). Ilyashev & Partners Law Firm represents the interests of the State Enterprise “Antonov”.

A positive for the State Enterprise “Antonov” judgment of ICAC at the Ukrainian CCI was delivered on 16 May 2017. The Court granted the claim of the State Enterprise “Antonov” on debt recovery from the corporate successor of the State Air Company “Libyan Arab Air Cargo”, which had brought an aircraft for maintenance services in 2010. Libyan state authority did not voluntarily execute the Court’s decision.

“Antonov, protecting its legitimate rights, is forced to request the foreclosure on the aircraft AN-124-100 “Ruslan” owned by the Libyan party and residing in Kyiv. If the debt is not recovered the aircraft will be placed on auction by the State Executive Service”, commented the case Mr. Roman Marchenko, Senior Partner of Ilyashev & Partners Law Firm.