Pola Logistics Ltd v GTLK Europe DAC and Others – [2022] IEHC 501 (25 August 2022), High Court of Ireland (Mr Justice Mark Sanfrey) – 25 August 2022

Charterparty (demise) – Bareboat charter in nature of hire purchase agreement – Registered owner subject to sanctions – Charterer seeking specific performance in respect of vessels – Council Regulation (EU) No 269/2014 (EU Sanctions Regulation)

Pola, a Cypriot company whose ultimate beneficial owners were Russian citizens, carried on business as a provider of transhipment services. GTLK was an Irish company beneficially owned by JSC, a Russian entity the sole shareholder in which was the Ministry of Transport of the Russian Federation. GTLK Malta, a wholly owned subsidiary of GTLK, was a special purpose vehicle incorporated in Malta, whose business was purchasing and leasing assets.