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Concerning the adoption of decisions by the meeting of creditors

The first meeting of creditors of BAB Ūkio bankas was convened on 18 March 2013. The meeting elected the chairman of the meeting of creditors, determined the number of members of the Creditors’ Committee of BAB Ūkio bankas, and elected the members of the Creditors’ Committee.In accordance with Article 85(6) of the Law of the Republic of Lithuania on Banks, the Creditors’ Committee of BAB Ūkio bankas represents all creditors of the bank whose financial claims have been approved in the bankruptcy proceedings and shall enjoy all the rights granted by the Enterprise Bankruptcy Law to the creditors’ meeting, with the exception of the right to form and change the composition of the creditors’ committee.

The Creditors’ Meeting took a decision to elect the authorised representative of the State undertaking Deposit and Investment Insurance (VĮ Indėlių ir Investicijų Draudimas) as the Chairman of the Creditors’ Meeting.To elect the Creditors’ Committee of 7 (seven) members and elect the following persons as its members:

1) Šarūnas Kraujalis (representative of BAB Ūkio bankas employees);

2)  Authorised representative of the State undertaking Deposit and Investment Insurance;

3) Authorised representative of the State undertaking Deposit and Investment Insurance;

4) Authorised representative of the State undertaking Deposit and Investment Insurance;

5) Authorised representative of the State undertaking Deposit and Investment Insurance;

6) Authorised representative of the State undertaking Deposit and Investment Insurance;

7) Authorised representative of UAB Lifodas (legal person’s ID No 122891974).

The Creditors’ Committee has determined that after all the claims of BAB Ūkio bankas employees are satisfied, the powers of a member of the Creditors’ Committee – the representative of employees shall expire on the next working day following the day on which the last payment to employees has been executed and a new member of the Creditors’ Committee shall not elected to this position.It has also been determined that when the number of members of the Creditors’ Committee becomes smaller than 5 (five), the administrator of BAB Ūkio bankas must immediately convene the meeting of creditors to elect the Creditors' Committee.

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