AB Bankas SNORAS Reached Agreement with Lithuanian Post
OREANDA-NEWS. June 19, 2012. Neil Cooper, Bankruptcy Administrator of AB Bankas SNORAS (in bankruptcy), confirms that an agreement has been reached with Lithuanian Post (‘Akcine bendrove Lietuvos pastas') over the asset sale of approximately 230 of the mini-bank kiosks located throughout Lithuania, reported the press-centre of AB Bankas SNORAS.
In addition to the mini-bank kiosks, Lithuanian Post has also agreed to purchase the ATMs and related IT hardware.
Commenting on the sale agreement, Neil Cooper, Bankruptcy Administrator said:
"We are pleased to have reached an agreement with Lithuanian Post and will be working closely with them to ensure the smooth transfer of these assets. The sale is still subject to the approval of the Creditors' Committee elected at Meeting of Creditors on 12 June 2012. I look forward to discussing the details of this agreement with the Creditors' Committee and working with them to realise such assets for the benefit of all creditors."
There will be further updates once the sale has been approved by the Creditors' Committee and the sale has been completed.