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2013-05-31 Official response relating to false and unfounded allegations that some depositors were assisted by the Temporary Administrator to withdraw funds illegally
Zolfo Cooper, Simon Freakley and the team responsible for the Temporary Administration of AB Bankas Snoras (Bank Snoras) strongly object to the further false and intentionally misleading allegations that some depositors were assisted by Simon Freakley to withdraw monies from the bank after its operations had been suspended.

The inaccurate reporting by a number of newspapers and internet sources is defamatory, unfounded and will not be tolerated. It is highly irresponsible and unprofessional for the media to publish such allegations without any credible evidence. It is also misleading and offensive to the vast majority of Snoras creditors who may be led to feel that they have been denied an opportunity to recover some of their claims.  | More
2013-05-29 Official response relating to recent reporting of the Temporary Administration of AB Bankas Snoras
Zolfo Cooper LLP, Simon Freakley and the team responsible for the Temporary Administration of AB Bankas Snoras (Bank Snoras) strongly object to the recent false and intentionally misleading reports concerning the running of Bank Snoras following Mr Freakley's appointment as Temporary Administrator on November 16th 2011 until its bankruptcy on December 7th 2011. | More
2013-05-27 Implications for SNORAS deposit certificate holders after recent rulings by the Vilnius Regional Court
By its recent rulings, the Vilnius Regional Court has dismissed requests made by a number of SNORAS deposit certificate holders (the plaintiffs) to recognise the deposit certificates they purchased as void and treat the amounts subject to insurance payments in accordance with the Law on Insurance of Deposits and Obligations to Investors and through the Deposit Insurance Scheme. | More
2013-05-17 Agreement reached over sale of Snoro lizingas shares to LHV and RAZFin
Neil Cooper, Bankruptcy Administrator of BAB bankas SNORAS (bankrupt), today confirms that an agreement has been reached over the sale of Snoro lizingas shares to AS LHV Group, one of Estonia’s largest banks and its partner RAZFin, an investment company controlled by Rakauskai family and investment group Zabolis Partners. The transaction will complete once the necessary approvals from the Competition authorities have been obtained and other closing conditions have been fulfilled. | More
2013-05-16 BAB Bankas SNORAS Report to the Creditors for the quarter ending 31 March 2013 now available on the Snoras website
Neil Cooper, Bankruptcy Administrator of AB Bankas SNORAS (bankrupt), has issued a quarterly report which provides information to the Creditors on the progress of the bankruptcy during the three months ending 31 March 2013. This report, available in both English and Lithuanian, is now available at http://www.snoras.com/en/about/creditors/index. | More
2013-05-15 Update on the sales process of “SNORAS Media”
Neil Cooper, Bankruptcy Administrator of AB Bank SNORAS (bankrupt) confirms that the process of selling the 34% shareholding of “Lietuvos rytas”, one of Lithuania’s largest media groups, is progressing well. The shares are owned by “SNORAS Media”.
Neil Cooper, Bankruptcy Administrator, said,
“We have already received significant interest in “SNORAS Media”, which is positive news. Indicative bids from interested parties are expected by the end of May 2013. We continue to work hard to ensure that the sale process will deliver the maximum value for creditors.”
 | More
2013-05-10 Statement regarding the Lithuanian Court of Appeal’s ruling relating to the bankruptcy administration expenses of Bankas Snoras
On 15 February 2013 the Vilnius Regional Court (the Court) rejected an application submitted by a minority creditor which contested a resolution of the Creditors’ Committee of BAB Bankas Snoras (bankrupt) to approve the administrative expenses for the Bankruptcy Administrator’s advisors for the period 8 March 2012 to 31 July 2012. | More
2013-05-08 Snoras Creditors’ Committee approves resolution to make available for sale Lithuanian foreclosed assets valued under LTL 1 million
The Creditors Committee of BAB Bankas Snoras (in liquidation) has approved a resolution proposed by Neil Cooper, Bankruptcy Administrator for the sale of the bank’s Lithuanian foreclosed assets that have a market value of less than LTL 1 million.


The bank currently has 48 foreclosed assets in Lithuania that have independently been valued at below LTL 1 million and these will be marketed in the coming weeks according to the approved sales process.
 | More
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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