Specialists from law firm Tark Grunte Sutkiene (TGS) and audit company Deloitte will work in Bank Snoras bankruptcy administrator Gintaras Adomonis' team during the takeover procedure of the administration of the bank. Meanwhile, British law firm Linklaters LLP and Swiss Nater Dallafior Rechtsanwalte AG will be assisting the administrator in international processes.
Bankas "Snoras"
© DELFI / Šarūnas Mažeika

Gintaras Adomonis is also the bankruptcy administrator of bank Ūkio Bankas. Therefore, he says that the chosen management model will enable to merge some overlapping processes and allow to manage them more effectively.

"It is yet too early to talk about concrete tasks and deadlines for the new team. However, it is already clear that first of all we will have to complete bank loan portfolio transfer process. Complex legal processes in Switzerland and Great Britain await. We can name other tasks once the team completes the analysis of the process and documents," said Adomonis.

As reported, bankruptcy case against Bank Snoras was launched in late 2011.

It is forbidden to copy the text of this publication without a written permission from ELTA.

Swedbank's pension funds invest EUR 200 mln into sustainable business

Pension funds managed by the Swedbank financial group are investing 200 million euros, or a sixth...

Belarus complains: Lithuania's blocking Minsk-EU agreement

Belarusian representatives complained in Brussels last week that Lithuania is blocking the...

New trends in startup world: unicorns' aspiration is not key anymore

The question when the first unicorn with over 1 billion of US dollars in value will appear in the...

Shopping frenzy: biggest retail chains plans allocate millions of euros for new stores

Lithuania's five biggest retail chains – Maxima , Lidl , Rimi, Iki and Norfa – have...

Construction launched on EUR 15 mln hotel in Kaunas

Construction is being launched on a 15-million-euro Moxy hotel, part of the Marriott Group , in...