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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 13:45

The buyers proposed to acquire in an auction the property of Snoras bank

Danuta Pavilenene, BC, Vilnius, 26.08.2015.Print version
This week buyers will be again proposed to acquire in an auction the property of the bankrupt Snoras bank: buildings, land plots and artwork – all at lower cost, reports LETA/ELTA, referring to Vakaro zinios.

Safes, tables, cabinets, fire extinguishers and other equipment are being put on sale and are worth less and less as time ticks by – just as the hopes of creditors of the failed bank. Another auction of the bank's property was held in early August, but only two of the 40 listed objects were sold.

 

Neil Cooper, whose qualifications were at the time praised by the Government and the Bank of Lithuania, did not rush to sell expensive properties in the country. He instead travelled abroad in search for securities, questionable loans and sold assets of Snoras' subsidiaries at knockdown prices.

 

The first luxurious apartments in Gaono Street (Vilnius) was sold only last May, the second – a month later, whereas prices compared to investments dropped twice. Prices of other immovable property owned by the bank also fell by hundreds of thousands of euros just in a month.






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