Baltic States – CIS, Banks, EU – Baltic States, Financial Services, Legislation, Lithuania

The court has granted a request from Snoras' bankruptcy administrator and decided to return 4.5 million pounds to the bank and ordered Antonov to pay 30,000 pounds in court costs, the bank, which is undergoing liquidation, said on Thursday.

Snoras' bankruptcy administrator has also been given access to information on Antonov's assets that is available to the court.

"I believe that the English court's decision is significant not only because it allows returning a large amount of money to its rightful owners –- Snoras' creditors. The decision also weakens the defense lines of the previous owners and opens up new opportunities for returning funds misappropriated from the bank to creditors," Gintaras Adomonis, the bankruptcy administrator, said in a press release.

Snoras has filed a claim for material damage worth 487.052 million euros against Baranauskas and Antonov.

Both men last summer fled Britain without waiting for the conclusion of court proceedings on their extradition to Lithuania. Antonov's representatives say that the former bankers currently live in Russia.