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2013-10-15 Snoras Media sale transaction closed
The sale of Snoras Media, subsidiary of bankrupt Snoras bank and owner of a 34% interest in Lietuvos rytas media group, has been completed. On Friday, 11 October, Snoras administrator Neil Cooper finalised the sale to UAB BIG group, subsidiary of UAB Fragrances International. The buyer paid LTL 10 million to the bank for full control of Snoras Media which held the shares in Lietuvos rytas. | More
2013-10-11 Neil Cooper: “We will distribute payments to Snoras creditors according to the order of ranking approved by the court. We are waiting to see whether the decision of 9 October 2013 is appealed further.”
“The approval of the ranking of creditors is an exclusive prerogative of the court, and we have to wait until this legal dispute is fully and finally settled.
Until now first-ranking creditors (employees of the bank) have been paid a total of LTL 9.3 million because their place in the ranking was not contested. We are currently in control of approximately LTL 1.5 billion of funds, the majority of which will be available for payments to other creditors. Such payments to creditors can, however, only start when we have a final and effective ruling of the court.
In total, creditors have filed over 28 500 claims against the bankrupt Snoras bank. All of these claims have been reviewed and as at 30 June 2013 the court had approved 17 167 of them totalling LTL 6.7 billion”, says Neil Cooper, bankruptcy administrator of Snoras bank.
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2013-10-10 Another Spyker sports car owned by Snoras sold
LTL 414 000 received from the sale of the luxurious two-seater coupe at the auction held in the Netherlands.
This week has seen the successful completion of the sale of a luxurious sports car Spyker C8 Laviolette LM85 owned by the bankrupt Snoras bank by auction in the Netherlands. The bankruptcy administrator informs that the amount of LTL 414 000 (EUR 120 000) has been already transferred to the bank for the exotic orange and black sports coupe with the registration number LM85.
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