Debts and interest comprised the bulk of that amount, Neil Cooper said in a press release.
“The bankruptcy administrator and his team continue to work intensively so as to maximize the recovery and exaction of assets to the creditors’ benefit in this complicated international bankruptcy process,” the press release reads.
Snoras’ creditors filed a total of 6.523 billion litas in undisputed claims. In mid-November Snoras’ liabilities exceeded its net assets by 2.756 billion litas, hence the bank was declared insolvent. On 16 November, Snoras’ net assets were worth 4.416 billion litas, and its liabilities made up 7.172 billion litas.
Cooper earlier said that he had located more than 2 billion litas worth missing assets of Snoras.
The Lithuanian government nationalized Snoras on 16 November 2011. A court opened bankruptcy proceedings against the bank on 7 December.
