Lithuania’s Ukio Bankas Enters Bankruptcy as Administrator Named
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A Lithuanian court began bankruptcy proceedings against Ukio Bankas AB at the request of the central bank, which shut the Kaunas-based lender in February because of risky loans to related parties.
Kaunas District Court today also issued a decree naming the firm Valnetas UAB as Ukio’s bankruptcy administrator, the court said on its website. The decisions may be appealed within 10 days, according to the statement.