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2012-09-20 Significant improvements in default rates at Snoras across corporate and retail loan portfolios
Neil Cooper, Bankruptcy Administrator of BAB Bankas Snoras (in Bankruptcy) can confirm that default rates across both the corporate and retail loan portfolios have improved significantly. Cash receipts from loan repayments and interest in August 2012 amounted to LTL 38 million, bringing the total realised from the loan book for the benefit of creditors since Bankas SNORAS entered bankruptcy on 7 December 2012 to LTL 583 million. | More
2012-09-20 Vilnius Regional Court approves creditors’ settlement plan
The Vilnius Regional Court has approved an application submitted by Neil Cooper, Bankruptcy Administrator of BAB Bankas SNORAS (in bankruptcy), which sought approval of the creditors’ plan to settle the claims of the first rank creditors of the bank in accordance with the law. | More
2012-09-11 Approximately LTL 1.2 billion cash now recovered for the benefit of creditors of BAB Bankas
Neil Cooper, Bankruptcy Administrator of BAB Bankas SNORAS (in bankruptcy) is pleased to confirm that as of 28 August 2012 approximately LTL 1.2 billion cash has been recovered and realised for the benefit of creditors. | More
2012-09-07 Information of SNORAS Creditors Committee: The expenses of maintaining the operation activity of BAB Bank SNORAS diminished
The estimate of the expenses of maintaining the operation activity of BAB Bank SNORAS as of 1 August – 31 October (for 3 months), which on the average comprises LTL 3.4 million per month, was confirmed at the meeting of SNORAS Creditors Committee which took place on 6 September. | More
2012-09-07 LTL 564 million payments received from loan holders
Between 7 December 2012 when bankruptcy proceedings began and 28 August 2012, the bankruptcy administrator of BAB Bankas Snoras and his team have collected LTL 564 million payments from the bank’s loan holders which will be used for the benefit of creditors.

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2012-09-06 Application submitted for permission to settle first rank creditor claims
An application has been submitted to the Vilnius Regional Court Neil Cooper, Bankruptcy Administrator of BAB Bankas SNORAS (in bankruptcy), which seeks approval of the creditors’ settlement plan and permission to settle the claims of the first rank creditors of the bank in accordance with the law. | More
2012-09-06 BAB Bankas SNORAS enters formal liquidation process
Neil Cooper, Bankruptcy Administrator of BAB Bankas SNORAS (in bankruptcy) today confirms that the bank is now formally in liquidation. An application was made to the Vilnius Regional Court on 6 August 2012. It was approved by the Court on 22 August 2012 and the appeal period has now expired. No appeals were received by the Court. | More
2012-09-05 Response to recent press comments about the Bankruptcy Administrator’s salary
Neil Cooper, Bankruptcy Administrator of BAB Bankas Snoras (in bankruptcy) was interested to read recent press articles which compare the nature of his work and salary to that of Arūnas Šikšta, the General Director of TEO LT.

Mr. Cooper has been involved in assignments in over 30 countries and is considered one of the world's leading experts in cross-border insolvency. He has undertaken cases worldwide and has been involved with the development of insolvency laws and systems in a large number of transition and developing countries. He was heavily involved in the formulation of the United Nations Commission for International Trade Law (UNCITRAL) Model Law on cross-border insolvency and has assisted the World Bank developing global insolvency principles and guidelines.
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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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