Almost 60 million euros spent on Snoras bankruptcy administration

The administrator of Lithuania’s Snoras, the commercial bank that went bankrupt late in 2011 and is being wound up, spent 204.9 million litas (EUR 59.4m) on the bank’s administration in slightly more than a year, i.e. from December 2011 until the end of 2012.

„Snoras“ / Irmanto Gelūno / BNS nuotr.

The operating costs totaled 60 million litas in the reporting period. Some 96.9 million litas were paid to advisers and 9.2 million litas, to staff. Other expenses totaled 38.9 million litas, Snoras said in its latest report to the creditors’ committee, which was published on Wednesday.

Snoras’ revenues totaled 1.355 billion litas in the reporting period, including 717.504 million litas in loan repayments and 563.604 million litas in funds recovered from financial institutions.

Former largest Snoras’ shareholders, Russian national Vladimir Antonov and Lithuanian Raimondas Baranauskas, are currently in London, waiting for a court’s decision on their extradition to Lithuania.

Almost 60 million euros spent on Snoras bankruptcy administration

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