Bank Snoras property sold on eBay

Bankas "Snoras"
DELFI / Šarūnas Mažeika

Already on the first day, banknote counter Glory GFB-800 was sold for USD 370.

“We had to look for alternative sales methods because the electronic auction system is not functioning yet. However, the main reason behind the move is a much larger market of potential buyers. I believe this is the first instance in Lithuanian bankruptcy administration process that property of a bankrupt organisation is sold on an international commerce platform, and yet such a method does not contravene the Lithuanian law or the interests of the bank’s creditors. Of course, we will not be selling Snoras items on eBay actively, but the first try gave us reason for optimism,” said Gintaras Adomonis, the bankruptcy administrator of bank Snoras.

Bank Snoras went bankrupt in December 2011. Its former shareholders are wanted in Lithuania but have fled the United Kingdom and are now in hiding.

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