Information about liquidation of BAB Ūkio Bankas

07-07-2014  Reg. No. 02-02-1393

Dear creditor of Ūkio Bankas,                                                    

Please be informed that the Kaunas Regional Court by its ruling of 2 July 2014 passed in civil case No. B2-745-254/2014 decided to announce BAB Ūkio Bankas to be bankrupt and to liquidate it (a copy of the ruling is attached).

By the said ruling the Kaunas Regional Court also approved amended lists of creditors of the bank, permitted to conduct transactions related to winding up of activities of the bank and instructed the bankruptcy administrator to perform actions provided for in the Enterprise Bankruptcy Law of the Republic of Lithuania and in the Law of the Republic of Lithuania on Banks in connection with management and sale of assets of the bankrupt bank, satisfaction of the bank creditors’ financial claims.

Please be informed that you, as a creditor of the bank, need not take any additional actions in connection with passing of the above-indicated ruling. If you decided to appeal against the ruling of the Kaunas Regional Court regarding announcing BAB Ūkio Bankas to be bankrupt and its liquidation, a separate appeal against this ruling should be lodged within 7 days after the receipt of this notification, that the ruling is attached to, lodging the appeal with the Court of Appeal of Lithuania through the Kaunas Regional Court.

Please also be informed that after the effective date of the ruling of the Kaunas Regional Court regarding announcing BAB Ūkio Bankas to be bankrupt and its liquidation, the bankruptcy administrator of the bank will take actions under the procedure set by the Enterprise Bankruptcy Law of the Republic of Lithuania and the Law of the Republic of Lithuania on Banks, related to sale of assets of BAB Ūkio Bankas, and will start the procedure of settlement of accounts with creditors of the bank. Following paragraph 3 of Article 86 of the Law of the Republic of Lithuania on Banks, before each settlement of accounts with the creditors, the administrator of the bank will present a plan of settlement of accounts with the creditors to the court for approval, which will indicate payment time limits, amounts to be paid and the scope of satisfaction of creditors’ claims. It will be possible to settle accounts with the creditors of the bank only after the effective date of such court rulings regarding approval of the procedure of settlement of accounts with the creditors.

Information on the procedure of settlement of accounts with the creditors will also be placed on the website www.ub.lt.

Enclosed: a copy of the ruling of the Kaunas Regional Court of 2 July 2014 passed in civil case No. B2-745-254/2014 regarding announcing BAB Ūkio Bankas to be bankrupt and its liquidation. Ruling

Yours sincerely,

Gintaras Adomonis,

bankruptcy administrator of BAB Ūkio Bankas,

the person authorised by UAB Valnetas

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