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.

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