OREANDA-NEWS. June 18, 2012. The first meeting of creditors of AB bankas SNORAS (in bankruptcy) has taken place at the "Siemens" arena in Vilnius, Lithuania. Approximately 600 creditors or their representatives physically attended the meeting, reported the press-centre of AB Bankas SNORAS.

During the meeting, two of the items on the formal agenda of the meeting as required by the applicable laws were the election of the SNORAS Creditors' Committee and the election of a chairperson for the Committee by the creditors. There was also a question and answer session where questions were taken from the floor.

Neil Cooper, Bankruptcy Administrator of AB bankas SNORAS (in bankruptcy) can confirm that the SNORAS Creditors' Committee comprises nine individuals including its chairperson and its members are as follows:

State enterprise "Deposit and Investment Insurance" representative (as the Chairperson of the Creditors' Meeting. Aurelija Mazintiene was elected Chairperson).

State enterprise "Deposit and Investment Insurance" representative

State enterprise "Deposit and Investment Insurance" representative

State enterprise "Deposit and Investment Insurance" representative

State Social Insurance Fund Board under the Ministry of Social Security and Labour representative

Holten Investments Ltd representative (Non-Lithuanian corporate creditor)

Martinas Gusiatinas or his representative (Lithuanian individual creditor)

Uzdaroji Akcine Bendrove "Bikuvos" prekyba representative (Lithuanian corporate creditor)

The Employee Representative elected by a ballot of the employees of SNORAS

Commenting on the election of the Creditors' Committee, Neil Cooper said:
"I look forward to working with the Creditors' Committee elected today during the next phase of the bank's bankruptcy process. I believe the committee elected today will work to represent the interests of all creditors and I will be meeting with the Committee over the next few days to discuss the progress made to date and what options are now available to the Committee relating to the realisation of the Banks' assets."