UK Updates License Involving Russian Aircraft Leasing Companies
The U.K. last week updated a general license authorizing insolvency-related payments and activities involving Russian aircraft leasing companies GTLK Europe and GTLK Capital. The changes add new definitions for "notes, Noteholders, Trustee, Relevant non-UK Institution, UK Prohibited Persons and UK…
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Prohibited Persons Account," clarified that certain funds must be held in frozen accounts, revised a notification requirement and a record-keeping requirement, and added a new reporting requirement.