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Snoras creditors' committee approves of Neil Cooper’s resolution
BC, Vilnius, 10.05.2013.
Print version
Print versionThe Creditors Committee of Bankas Snoras (in liquidation) has approved a resolution proposed by Neil Cooper, Bankruptcy Administrator for the sale of the bank's Lithuanian foreclosed assets that have a market value of less than LTL 1 million (EUR 290 million), reports LETA/ELTA.
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The bank currently has 48 foreclosed assets in Lithuania that have independently been valued at below LTL 1 million (EUR 290) and these will be marketed in the coming weeks according to the approved sales process.
The sales process will be jointly managed by the bankruptcy administrator, his team, the bank's staff and Colliers, an experienced and well respected commercial real estate advisor.
"We have been working hard to prepare these foreclosed assets for sale and now that we have approval from the Creditors' Committee to sell them, we will be working with Colliers to market these assets and realise as much value as possible for the benefit of creditors," Neil Cooper, bankruptcy administrator said.
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