Bankruptcy Administrator of Bankas SNORAS Received Over 40 Proposals
OREANDA-NEWS. June 19, 2012. Neil Cooper, Bankruptcy Administrator of AB Bankas SNORAS (in bankruptcy) confirms that ahead of the creditors’ meeting to take place on 12 June 2012 he has received over 40 proposals for a SNORAS Creditors' Committee and several for the Chairperson of the Creditors’ Committee, reported the press-centre of AB Bankas SNORAS.
The proposals for a SNORAS Creditors' Committee include the proposal supported by the state enterprise Deposit and Investment Insurance which is supported by more than 60% of the total creditor claims accepted by the Court against SNORAS as at 12 June 2012. The proposal has also received the support of a number of other creditors and the Association of Depositors and Creditors of Snoras.
Copies of the proposals and advance votes are being made available on the Snoras website (www.snoras.com) and will also be available for creditors to inspect in person at the venue before the opening of the Creditors’ Meeting at the “Siemens” arena, Vilnius, Lithuania.
Commenting on the proposals, Neil Cooper, Bankruptcy Administrator said:
“It will be for the Creditors' Meeting on 12 June 2012 to determine the chairperson and secretary of the meeting and the composition of the Creditors' Committee. However, the proposal supported by the state enterprise Deposit and Investment Insurance has received the most advanced votes.”
Should a creditor decide not to attend or vote at the Creditors' Meeting, it will not prejudice their claim and entitlement to any dividend in the bankruptcy, should there be one. No distribution will be made to creditors at the Creditors' Meeting. The report to be presented to the Creditors' Meeting is now available at http://www.snoras.com/en/about/creditors/index