OREANDA-NEWS.  May 15, 2012. The Bankruptcy Administrator of BAB Bankas SNORAS can confirm that final negotiations with investors are taking place over the sale of Finasta Group and SNORO Lizingas, reported the press-centre of Bankas SNORAS.   

The Finasta Group negotiations concern the sale of seven companies including the asset management business and Finasta Bank while the SNORO Lizingas negotiations concern the sale all of its operations and lease portfolio.

Commenting on the negotiations, Neil Cooper, Bankruptcy Administrator said:
“We are now in the final stages of the sales process for both businesses and expect to sign agreements in the short term. The deals cannot be completed until the Creditors’ Committee is formed and they have had an opportunity to review the transactions. Lithuanian Bankruptcy law states that the sale of these assets must be ratified by the Creditors’ Committee and I look forward to working with the Committee to secure the best possible outcome for creditors.”