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2014-07-25 INFORMATION ON THE WORKING TIME OF UTENA SUBDIVISION TILL 31/07/2014 AND THE TERMINATION OF THE SUBDIVISION'S ACTIVITY AS OF 01/08/2014
INFORMATION ON THE WORKING TIME OF UTENA SUBDIVISION TILL 31/07/2014 AND THE TERMINATION OF THE SUBDIVISION'S ACTIVITY AS OF 01/08/2014 | More
2014-07-24 LTL 2 billion recovered during Snoras bankruptcy administration - Bankruptcy administrator has already repaid LTL 934 million to creditors from collected funds
The team of Snoras Bankruptcy administrator has already returned LTL 2 billion to the bankrupt Snoras bank. In the last six months, most funds were generated by the loan portfolio administration and sale of bank's real estate in Lithuania and Latvia. In addition, the funds from the failed issue of Snoras shares were acknowledged on behalf of the bank and its creditors after the Supreme Court of Lithuania passed the final ruling in their favour.  | More
2014-07-22 Second Snoras apartment in Vilnius Old Town sold at LTL 3.3 million - One of the former major shareholders of the bank had plans to live at the unfinished apartment
The Bankruptcy Administrator of Snoras has completed the sale of the second exclusive apartment situated in Gaono street, in Vilnius Old Town, owned by the bank. The premises of 284 sq. m were sold for LTL 3.3 million. The apartment, intended for one former major shareholder of the bank, was not fully equipped.  | More
2014-07-18 First round of bids for the former headquarters of Krājbanka is closed
The highest offer has been accepted and the sale transaction is expected to be closed by the end of August | More
2014-07-15 INFORMATION ABOUT THE WORK TIME IN MARIJAMPOLĖ UNIT
We hereby inform you that the unit of BAB Bank SNORAS, located at J. Basanavičiaus a. 15, Marijampolė, will not be working from 21 July 2014 till 25 July 2014.  | More
2014-07-10 LTL 934 million paid to creditors by Snoras Bankruptcy Administrator - Third payment to Deposit and Investment Insurance schedule of LTL 800 million approved by Court
Snoras Bankruptcy Administrator has completed payment of LTL 500 million to the secondary-ranked creditor State company Deposit and Investment Insurance under the second payment schedule approved by the Regional Court of Vilnius. The approved creditor claims by the primary-ranked and secondary-ranked creditors in the amount of LTL 934 million have been satisfied already.
The third payment schedule, under which further amount of LTL 800 million would be paid to the largest creditor Deposit and Investment Insurance before December 2014, has been approved by the Court recently. Payments will be made gradually after the investment terms of the accumulated funds expire.
“Payments to creditors proceed smoothly; we have already paid almost one billion Litas and will exceed this number shortly. This is a significant amount returned to the creditors on the sold property and assets of the bank as well as on the discovered loan transfer schemes, under which assets of the bank have been directed to the funds registered in Cyprus, Cayman and the British Virgin Islands,” says Neil Cooper, Snoras Bankruptcy Administrator.
All claims amounting LTL 9.3 million of the primary-ranked creditors, that is, employees of the bank, have been satisfied so far during the ongoing bankruptcy procedure of Snoras. LTL 925 million have been paid to Deposit and Investment Insurance, the secondary-ranked creditor of Snoras till now.
Deposit and Investment Insurance has brought a claim on LTL 3.99 billion against Snoras bank for the insured deposits.
 | More
2014-07-07 Snoras building in Riga Old Town is up for free sale - The initial asking price of the historic building in Riga suitable for a hotel or offices is LTL 24 million
The Bankruptcy Administrator of Snoras Bank is selling a building owned by the Bank located on Doma Square in the heart of the Old Town of the Latvian capital. The total area of the four-storey building is 4,709 sq. m and it is located on a 1,435 sq. m large land lot. The property has 3 parking lots including garage space. The initial asking price of the property is LTL 24 million (EUR 7 million) and investors can bid for the property offered in free sale until 14 August.  | 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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