OREANDA-NEWS. April 07, 2014. Snoras Bankruptcy Administrator Neil Cooper continues cooperation with Lithuanian law enforcement authorities in all their investigations concerning the bankruptcy of Snoras bank and is now looking at the information provided by those authorities together with the lawyers. He also denies the information released into the public domain that the administrator allegedly proposed a compensation for losses related to the bankruptcy process. Options are now explored to apply to court regarding denial of the published false information and application of liability to specific publications.   

 Two weeks ago Cooper met with the investigating officials in Vilnius and answered their questions.       

 "I have a consistent stand and remain faithful to the view that we are cooperating and will continue to cooperate with law enforcement authorities in all of their investigations related to the bankruptcy of Snoras bank," Neil Cooper, Bankruptcy Administrator for Snoras, says. "I met with the officials a short while ago and answered their questions on my visit to Vilnius in connection with the bankruptcy administration of Snoras. This was a formal meeting required under such circumstances".

 According to Neil Cooper, the investigation into the two operations made at the bank is being continued and is progressing according to the established requirements for such processes. Lawyers are now preparing a response to the allegations that are part of the investigation.

 "The guilt is not proved and I have made no proposals to pay a loss compensation, as is announced in public - any attempt to suggest the opposite is an absolute lie. These are wild guesses, so the lawyers and me are considering the option of demanding to deny the published false information," Neil Cooper points out.          

 He adds: "I believe that the Lithuanian authorities will find answers to these questions. I am prepared to provide all required information and explanations as far as the bank's bankruptcy administration processes and my functions of a Bankruptcy Administrator are concerned.

I am satisfied with the bankruptcy process, progress achieved and performance of the team, who, no matter what, proceed with the bank's day-to-day bankruptcy routines and make every effort to achieve the best outcome for Snoras' creditors".