OREANDA-NEWS. May 25, 2012. All current and former employees who have claims against BAB bank SNORAS have had the opportunity to vote for one of seven individuals who had been nominated for the position as Employee Representative to the Creditors’ Committee.

The role of the Employee Representative is to represent the employees’ on the Creditors’ Committee.  The Creditors’ Committee assists the Bankruptcy Administrator in the bankruptcy procedure, selling assets and deciding on the continuity or restriction of economic and commercial activities of Snoras, approves the annual financial statements drawn up in the course of the bankruptcy proceedings and defends the interests of creditors.

Voting closed on Tuesday 22 May and the result will be announced to current and former employees within the next five days. The appointment will be confirmed at the Creditors’ Meeting on 12 June 2012.