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2011-12-15
Announcement

Announcement pursuant to Article 13 of Directive 2001/24/EC of the European Parliament and of the Council on the reorganisation and winding-up of credit institutions.

Extract from the decision to open winding-up proceedings concerning Akcinė bendrovė bankas SNORAS
 

On 7 December 2011, the Vilnius Regional Court issued a decision to open bankruptcy proceedings in respect of public limited liability company bank SNORAS (Akcinė bendrovė bankas SNORAS, legal entity code: 112025973, VAT payer code: LT120259716, address: A. Vivulskio g. 7, Vilnius, the Republic of Lithuania, registered with the Registrar of Legal Entities of the Republic of Lithuania (“AB bank SNORAS”), civil case No. B2-7791-611/2011, judicial proceedings No. 2-55-3-03098-2011-9.

The Court established by the decision of 7 December 2011 a one month term (from the day of entering into force of the Court decision to open bankruptcy proceedings) for creditors to submit claims that had been due before the opening of bankruptcy proceedings of AB bank SNORAS.

Mr. Neil Cooper was appointed the bankruptcy administrator of AB bank SNORAS.

The bankruptcy proceedings of AB bank SNORAS constitute winding-up proceedings pursuant to Directive 2001/24/EC of the European Parliament and of the Council on the reorganisation and winding-up of credit institutions. This announcement is made pursuant to Article 13 of Directive 2001/24/EC.

An extract of the decision to open winding-up proceedings in respect of AB bank SNORAS (translated) is set out below:

“The court, following Art.290-291 of the Code of Civil Procedure of the Republic of Lithuania, Art.84 of the Law on Banks, Art.9 of the Law on Enterprise Bankruptcy,

resolves:

 To initiate bankruptcy case for AB bank SNORAS, legal entity code 112025973, registered at A.Vivulskio str. 7, Vilnius.

 To appoint Neil Cooper (born on 30 June 1947, address 10 Fleet Place, London, EC4M7RB, GB, certificate No. 11198) as a bankruptcy administrator of AB bank SNORAS.

 To assign bankruptcy administrator to perform actions stated in article 85 part 1 of the Law on Banks of the Republic of Lithuania, article 10, part 4, point 3 and part 7, point 8 of the Law on Enterprise Bankruptcy of the Republic of Lithuania.

 To oblige bankruptcy administrator, after having found out about cases initiated for AB bank SNORAS or enforcement documents submitted to bailiffs regarding recovery from AB bank SNORAS, immediately inform the court thereof.

 To set a period of one month, after the day the ruling to initiate bankruptcy case comes into force, for submission of creditor financial claims that have arisen until the day of initiation of bankruptcy case.

 To oblige management bodies of AB bank SNORAS no later than within fifteen days after the day the ruling to initiate bankruptcy case comes into force to transfer to the bankruptcy administrator the property of the company under financial statements, prepared according to the data of the day the ruling to initiate bankruptcy case comes into force, and all documents.

 To seize all immovable property and other long-term tangible property until the day the ruling to initiate bankruptcy case comes into force.

 To assign bankruptcy administrator to submit the copy of the ruling regarding the seizure of the property of AB bank SNORAS for execution to bailiff selected by the administrator, acting in the territory of the Second District of Vilnius City.

 To execute the ruling urgently.

 The ruling within 10 days after the day of passing of the ruling may be appealed by way of a separate complaint to Lithuanian Court of Appeals through Vilnius Regional Court.”

Vilnius, Lithuania

15 December 2011

Neil Cooper, administrator of Akcinė bendrovė bankas SNORAS (in bankruptcy) (as its agent and without personal liability)


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AB Bank SNORAS
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