BAB Ukio Bankas Reports Information to Minority Shareholder
OREANDA-NEWS. December 18, 2013. Please be informed that the Kaunas Regional Court has resolved financial claims against BAB Ukio bankas filed by more than 80 persons on the basis of nominal or another value of the bank’s shares specified by the persons.
The Kaunas Regional Court confirmed the position of BAB Ukio bankas bankruptcy administrator UAB Valnetas that the aforementioned persons and the specified claims may not be put on the list of BAB Ukio bankas creditors.
Bankruptcy administrator UAB Valnetas notes that pursuant to Article 87 of the Law on Banks of the Republic of Lithuania and Article 31(1)(6) of the Enterprise Bankruptcy Law of the Republic of Lithuania, the claims of BAB Ukio bankas creditors confirmed by the court (i.e. natural and legal persons having the right to request BAB Ukio bankas to fulfil its duties and liabilities) shall be satisfied first, and if the assets of the bank in bankruptcy are sufficient for satisfying all creditor claims, the assets remaining after the settlement with all the creditors shall be returned to the shareholders.