Buyers of an unregistered Snoro title will receive benefits

On Wednesday, the Latvian Supreme Court ruled that the money paid for the outstanding issue of Snoro shares could be considered a contribution. This was done after the decision of the Court of Justice of the European Union (ECJ), pbaded in March, which stipulates that residents who have paid for unsecured Snoro shares and bonds may also be subject to the European Investment Committee and the Deposit Protection Directive.

"After the Epipheny of Courts, justice has triumphed and we hope that the Deposit Insurance and Investments Fund (IIDF) will immediately pay the insurance payments," he said. IIDF has long avoided paying insurance benefits in an unjustified manner, as new cases of procedural interest are already available in the courts, which already account for about one-third of the original amount. unregistered shares, investors represented by the Investors Association represented the firm of lawyers Fort specializing in the affairs of the European Union (EU)

"It is the most important the most important case in the Lithuanian courts, which demanded enormous perseverance from the plaintiffs. Andrius Mamontovas, Partner of the Fortress Law Society, Fort

A group of investors formed by the Association, which groups 257 people, purchased a total of 1.6 million shares in the new loan from Snoras.

The decision of the LAT is valid only for those who have applied to the courts.

According to the laws, insurance companies can not receive insurance for the largest buyers of Snoro shares. Raimondas Baranauskas (21.6 million euros) and Jubilee Financial Products Foundation (23.2 million euros) related to them

The shareholders of Snoras have decided to distribute 110 million euros. euros. The Eur stock was issued in 2010. December 21. Small investors could acquire new equity issues for around 7.3 million. Eur.

2011 On November 16, the Lithuanian government nationalized the shares of Snoras and on November 22 The Bank of Lithuania refused to issue an authorization to register changes to the statutes of Snoras regarding the l. capital increase. December 7 Bankruptcy filed against Snorai.

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