OREANDA-NEWS. June 4, 2012. In the Notice to Creditors dated 18 May 2012, it was stated that the Bankruptcy Administrator would make a proposal for the appointment of a Secretary for the First Creditors Meeting. This proposal is in respect of one of the Procedural Resolutions to be put to the Meeting. This announcement is also available on www.snoras.com

The role of the Secretary to the Meeting is to assist the Chairman of the Meeting by taking the minutes of the Meeting. Following the Meeting, the minutes will be filed at Court.

Accordingly, the Bankruptcy Administrator proposes that Justinas Bucys be appointed as Secretary to the Meeting. Mr Bucys has worked at Snoras for nearly five years. His current position is within the Financial Asset Management Department.

As previously notified, the first meeting of creditors of AB bankas Snoras (in bankruptcy) will take place at 12 noon on Tuesday 12 June 2012 at the Siemens arena, Ozo st. 14, Vilnius, Lithuania.

It is recommended that all creditors pre-register to indicate whether they will or will not be attending this meeting. To simplify this procedure for creditors, the registration process is available online at www.snoras.com.

Please be advised that creditors will not prejudice their claim and entitlement to any dividend in the bankruptcy, should there be one, if they do not attend or vote at the Creditors Meeting.

Commenting on the Creditors Meeting, Neil Cooper, Bankruptcy Administrator said:

The formal business is to approve the agenda of the Creditors Meeting, to appoint the Secretary to the Creditors Meeting, to appoint the Chairperson of the meeting and to appoint the Creditors Committee.

I would like to remind creditors that we will not be determining the amount, validity or priority of creditor claims at the Creditors Meeting and there will be no distributions or payments to creditors.  No decisions will be made relating to the sale of assets or the costs associated with the bankruptcy.  We will be making a report discussing the substantive matters relating to the Bankruptcy available at www.snoras.com prior to the Creditors Meeting.