The administrator asked for 27.25 million litas (LTL 2.6 m less than in December-March) for the maintenance of the bank’s activities and 29.9 million litas (LTL 1 m more) for advisory services, it said.
Gintaras Stalnionis, spokesman of Vilnius regional Court, could not confirm this information to BNS on Tuesday saying that the judge had not yet taken a decision on this issue.
According to the experts cited by the association, the amount of 57 million litas, which is being asked for a 90-day period, well exceeds the costs of an operational bank of similar size. Moreover, a report to the court on the expenditures of 61 million litas, which were spent in the first three months of Cooper’s work, is vague and raises doubts as to the validity of costs.
On 20 December, the court approved estimated 29.869 million litas, sum that was raised to 60.944 million litas on 27 December. Cooper had the right to use the funds during three months from the opening of bankruptcy proceedings, i.e. until 7 March, but no longer than after the approval of the estimate by the first meeting of the bank’s creditors.
The date on which the first meeting of Snoras’ creditors will be held has not yet been established but it may take place in May.
