It is actually worse than the article at the top of the page suggests...
http://www.reuters.com/article/2011/11/16/lithuania-snoras-takeover-idUSS3E7KT00320111116
The central bank said it had found irregularities.
"The decision was taken due to a risk of insolvency and possible criminal activity," said central bank governor Vitas Vasiliauskas.
"During an inspection we have found that a significant amount of securities held at foreign institutions were missing. When we asked those foreign insitutions about the securities, they replied that they did not exist," he said.