OREANDA-NEWS.  May 13, 2013. The Creditors Committee of BAB 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.

The bank currently has 48 foreclosed assets in Lithuania that have independently been valued at below LTL 1 million 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.

You can find the list of foreclosed assets for sale at: http://www.snoras.com/en/assets_for_sale

Commenting on the sale of the tangible assets, Neil Cooper, Bankruptcy Administrator said:
“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.”

For further information, interested parties should contact Inga Purtulyte at Colliers on +370 612 97117 (inga.purtulyte@colliers.com).