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2012-12-19 Implications for SNORAS bond holders after 7 December 2012 ruling by the Vilnius Regional Court
On 7 December 2012, the Vilnius Regional Court ruled against a request made by a SNORAS bond holder (the plaintiff) to annul bond subscription agreements and to treat the amountssubject to insurance payments in accordance with the Law on Insurance of Deposits and Obligations to Investors and through the Deposit Insurance Scheme.
The plaintiff advised the Court that he thought that SNORAS had acted dishonestly, that he had been misled by the bank and therefore thought that bond subscription transactions were covered by the Deposit Insurance Scheme.
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AB Bank SNORAS
7 A.Vivulskio Str. LT-03221 Vilnius
Phone: + 370 5  239 2239
Fax: + 370 5  232 7300
E-mail: info@snoras.com
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