OREANDA-NEWS. July 27, 2012. Neil Cooper, Bankruptcy Administrator of AB Bankas SNORAS (in bankruptcy), confirms that the transaction relating to the asset sale of approximately 220 of the mini-bank kiosks to the Lithuanian Post (‘Akcine bendrove Lietuvos pastas') is progressing through its closing stages, reported the press-centre of Siauliu Bankas. 

The agreement with the Lithuanian Post was signed on 14 June 2012 and covers the sale of the mini-bank kiosks belonging to SNORAS Bank as well as the ATMs and related IT hardware. Any outstanding matters are currently being addressed and discussions with potential buyers have been productive. No deviations from the initial agreement with the Lithuanian Post have been requested or are required at this stage.

Commenting on the sale process, Neil Cooper, Bankruptcy Administrator said:

“The sale of the mini banks continues to move forwards and once the final closing stages have been completed, the Creditors’ Committee will be required to approve the proposed transaction. The transaction is anticipated to complete within the coming weeks subject to Creditor Committee approval.”