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

On Tuesday the creditors of the bank were surprised by activity of three nontaxable companies: their representatives were making every effort to get a seat in the committee of creditors. To achieve this they attempted to increase the number of members in the committee and to reduce the influence of state company Indeliu ir Investiciju Draudimas (Deposit and Investment Insurance) in making decisions on key issues.

These companies are registered in Belize, Cyprus and are related to people close to banker Vladimir Romanov, who has been hiding abroad. It is believed that the aim of the bankrupted businessman is very simple: to manage all the information, relating to the assets of the Ukio Bankas.

There will be seven members in the committee of the Ukio Bankas' creditors: a representative of employees, a representative of company Lifodas and the rest five were delegated by company Indeliu ir Investiciju Draudimas (Deposit and Investment Insurance). More than one angry creditor was considering that Lithuanian law enforcement institutions could be more determined and to return the former owner of the Ukio Bankas from abroad.