On 7 December 2011 Vilnius Regional Court ruled:
To initiate a bankruptcy case for AB bank SNORAS, legal entity code 112025973, registered at A.Vivulskio str. 7, Vilnius.
To appoint Neil Cooper as bankruptcy administrator of AB bank SNORAS.
To assign bankruptcy administrator to perform actions stated in article 85 part 1 of the Law on Banks of the Republic of Lithuania, article 10, part 4, point 3 and part 7, point 8 of the Law on Company Bankruptcy of the Republic of Lithuania.
To oblige bankruptcy administrator, after having found out about cases initiated for AB bank SNORAS or enforcement documents submitted to bailiffs regarding recovery from AB bank SNORAS, immediately inform the court thereof.
To set a period of one month, after the day the decision to initiate bankruptcy case comes into force, for submission of creditor financial claims that have arisen until the day of initiation of bankruptcy case.
To oblige management bodies of AB bank SNORAS no later than within fifteen days after the day the decision to initiate bankruptcy case comes into force to transfer to the bankruptcy administrator the property of the company under financial statements, prepared according to the data of the day the decision to initiate bankruptcy case comes into force, and all documents.
To arrest all immovable property and other long-term tangible property until the day the decision to initiate bankruptcy case comes into force.
To assign bankruptcy administrator to submit the copy of the decision regarding arrest of the property of AB bank SNORAS for execution to bailiff selected by the administrator, acting in the territory of the Second District of Vilnius City.
To execute the decision urgently.
The decision within 10 days after the day of passing of the decision may be appealed by way of a separate complaint to Lithuanian Court of Appeals through Vilnius Regional Court.