I agree with Dr. Iyer that the problem is due chiefly to the length of the ulna not being restored. This is probably because the large butterfly fragment has caused the bone to collapse enough to prevent the radial head being reduced. I would do an open reduction of the ulna with bridge plate osteosynthesis after checking with image intensifier that the radial head is reduced. Only if the head still remains dislocated would I do an open reduction and annular ligament reconstruction. The radial fracture also I would plate.
It seems to me, that first of all you would better to remove all the pins from the forearm, and then,
ulna`s fragments must be fixed by 1\3 tub. bridge-plate with restoring bone`s length, and you will be able to reduce the head of radius by Boid`s procedure. The distal part of radius may be fixed by plate.
Kind regards, Andrey.