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2012-11-28 Approximately LTL 1.3 billion cash now recovered for the benefit of creditors of BAB Bankas Snoras
Neil Cooper, Bankruptcy Administrator of BAB Bankas SNORAS (in bankruptcy) is pleased to confirm that as of October 31st approximately LTL 1.3 billion of cash has been recovered and realised for the benefit of creditors.

The majority of the cash recovered has come from repayments of capital and interest from the bank’s loan book reflecting the ongoing valuable work undertaken by the Bank’s loan management team.  | More
2012-11-28 FINMA assigns claims relating to BAB Bankas SNORAS in Switzerland to the Bankruptcy Administrator of SNORAS
In addition, in its capacity as bankruptcy administrator in the Swiss bankruptcy proceedings, FINMA has confirmed that the Swiss bankruptcy estate has waived its rights to pursue legal proceedings and has assigned these rights to Neil Cooper, who was appointed as Bankruptcy Administrator of SNORAS by the Vilnius Regional Court on 7 December 2011. | More
2012-11-16 Bankruptcy administrator comments on progress made since banking operations at SNORAS were suspended one year ago
On 16 November 2011, The Central Bank of Lithuania placed AB Bankas SNORAS under temporary administration and the bank’s operations were suspended to allow for a controlled analysis of its financial situation. During the temporary administration, the bank’s financial position was evaluated and restructuring options were provided to the Central Bank for their consideration. | More
2012-11-15 BAB bankas SNORAS Report of Bankruptcy Administrator to the Creditors now available on the Snoras website
Neil Cooper, Bankruptcy Administrator of AB Bankas SNORAS (in bankruptcy), has issued a formal report which provides information to the Creditors on the progress of the bankruptcy across the various operational, assets and liability management work streams since his appointment to 30 June 2012. This report is now available at | More
2012-11-06 Lietuvos paštas represented the best offer available to creditors
We can confirm that the selling price for the network of 214 mini banks to Lietuvos Paštas was approximately 3.1 million Litas.
Having conducted a lengthy sales process and met repeatedly with other bidders from both Lithuania and abroad this represented the best offer available to creditors. | More
2012-11-02 Lietuvos paštas has Completed the Transaction on the Acquisition of Snoras Mini-Bank Retail Network
The state-owned public limited company Lietuvos pastas (LP) and BAB bankas SNORAS today completed the acquisition of the Mini-bank retail network run by the bank Snoras undergoing liquidation procedures. | More
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