Share Transfers Agreed/Cooling off period

[cookin_on_gaz]

Is it just me or is Ann Budge related to Mason Verger from Silence of the Lambs?

http://www.flickr.com/photos/72692813@N07/12529049124/
http://www.flickr.com/photos/72692813@N07/12528561775/

[Ronniekirk]

<cough>

She's yet to get the shares :wink:

Great business plan, but the courts in Lithuania hold the aces - not BDO/Budget/FoH/BIDCO.

Nothing happening any time soon would be my guess (that isn't actually a guess)

On the news tonight saying end of April but no mention of Frozen shares and Lithuanian Courts Investigative Journalism at its laziest .

[SurferRosa]

Yep, it's up there with self-sufficiency! As an aside, as EEN etc are obviously rounding down the £6.3m to 6 can we please round up the 6.5 to £7m? Has a much better ring to it! :wink:

Has their football debt been added to the pot? That was around 5 or 6 hundred grand was it not?

[brog]

Has their football debt been added to the pot? That was around 5 or 6 hundred grand was it not?

I just had exactly the same thought! Definitely takes total to repay to ​£7m!

[CropleyWasGod]

I just had exactly the same thought! Definitely takes total to repay to ​£7m!

TBH, I think it's included in the £6.3m. Probably in the first tranche of £1m.

[Ronniekirk]

I just had exactly the same thought! Definitely takes total to repay to ​£7m!

She will gradually sell off the goal den generation to get her money back .There value must have soared after they showed live on tv. How not to try and see out a gig against 9 men Tactical Geniuses the lot of them

[fat freddy]

for some reason the name Ann Budge has provoked a flurry of anagrams inside my otherwise empty head...take your pick..

can she get round the transfer embargo?...Nudge Ban

what did she get up to on Valentines day?...Nude Bang

what they'll be eating at The PBS soon?...Dung Bean

[leggeto]

Shaun Lawson's just been to ACE tattoo
http://img.photobucket.com/albums/v723/KTskaBassist/DSC00007.jpg

Jesus that's a big arm wouldn't like left hook from her

[Billy Whizz]

Heard on Sportsound last night that Brian McLauglan said there player budget next year would be £1.4m(if they are still trading).
Any idea what Hibs player budget is?

[hibees 7062]

TBH, I think it's included in the £6.3m. Probably in the first tranche of £1m.

You had to spoil it eh :greengrin

[HIBERNIAN-0762]

Heard on Sportsound last night that Brian McLauglan said there player budget next year would be £1.4m(if they are still trading).
Any idea what Hibs player budget is?

How on earth can this be? I mean WTF?, how about paying some of the poor sods back they ripped off before spending this crazy money on players?

An absolute scandal if they get away with this!, where's all the protest from other clubs here, only these cretins could get away with anything like this!

****** beelin sitting here! :confused:

[Aldo]

Heard on Sportsound last night that Brian McLauglan said there player budget next year would be £1.4m(if they are still trading). Any idea what Hibs player budget is?

That works out at just over 29,000 (21,199 to be precise) a month to pay for players.

[Col2]

That works out at just over 29,000 (21,199 to be precise) a month to pay for players.

?? Arithmetic not your strongest area?!? :)

[Aldo]

?? Arithmetic not your strongest area?!? :)

A week. Mon it's early and I've only had one coffee. Sorry!! Doh

[Col2]

What are the bets that while they scramble (privately) to get hold of the frozen shares over the next few months, they will start a campaign (through media) that it is just a very small technicality that they are not out of admin and therefore should not be punished with any future points penalty.

You can imagine the media outrage that brave Hearts being punished again after all the pain they have gone through just because of some pesky Lithuanian legal system.

I also reckon pishy pants faulkes is odds on to be wheeled out soon to 'use his power and influence on the Lithuanians'

[Billy Whizz]

That works out at just over 29,000 (21,199 to be precise) a month to pay for players.

Tune in at around 10 mins to 14 mins, and it mentions £1.2 to £1.4 m

http://downloads.bbc.co.uk/podcasts/scotland/scotfoot/rss.xml

[CropleyWasGod]

How on earth can this be? I mean WTF?, how about paying some of the poor sods back they ripped off before spending this crazy money on players?

An absolute scandal if they get away with this!, where's all the protest from other clubs here, only these cretins could get away with anything like this!

****** beelin sitting here! :confused:

Perfectly legal.

Sent from my GT-I9100 using Tapatalk

[Geo_1875]

What are the bets that while they scramble (privately) to get hold of the frozen shares over the next few months, they will start a campaign (through media) that it is just a very small technicality that they are not out of admin and therefore should not be punished with any future points penalty.

You can imagine the media outrage that brave Hearts being punished again after all the pain they have gone through just because of some pesky Lithuanian legal system.

I also reckon pishy pants faulkes is odds on to be wheeled out soon to 'use his power and influence on the Lithuanians'

If they get the shares they will be out of admin and no further punishment will be applicable. They won't get the shares anytime soon.

[Geo_1875]

Tune in at around 10 mins to 14 mins, and it mentions £1.2 to £1.4 m

http://downloads.bbc.co.uk/podcasts/scotland/scotfoot/rss.xml

So they don't have any stadium improvements factored into their spending plans.

[fat freddy]

[QUOTE=Billy Whizz;3907178]Heard on Sportsound last night that Brian McLauglan said there player budget next year would be £1.4m(if they are still trading).
Any idea what Hibs player budget is?[/QUOTE



A rough calculation suggests they will be able to offer a squad of 25 players just over £1K per week with that budget...or £2K per week to the first team regulars and £500 to the squad players...but most likely they will offer Rudi £10k per week and everyone else can get a part time job at The Brauhaus Bar

[Aldo]

So they don't have any stadium improvements factored into their spending plans.

There will come a time when their chums at EDC will not be able to issue a certificate. They won't have any finances put asides for this which will cost between 6 to 8 million.

The main stand should be condemned and is a complete and utter dump. For a big team they don't seem to bother too much bout this do they.

[Ronniekirk]

E
There will come a time when their chums at EDC will not be able to issue a certificate. They won't have any finances put asides for this which will cost between 6 to 8 million.

The main stand should be condemned and is a complete and utter dump. For a big team they don't seem to bother too much bout this do they.

Why do you think the politicians keep sniffing about .Before you know it there will be backhanders and other investors looking to do what Romanov wanted to de redevelop site or flog it and rebuild like st mirren have done with council support Cheats keep on trying to cheat

[Aldo]

E Why do you think the politicians keep sniffing about .Before you know it there will be backhanders and other investors looking to do what Romanov wanted to de redevelop site or flog it and rebuild like st mirren have done with council support Cheats keep on trying to cheat

For sure mate for sure.

[Weststandwanab]

?? Arithmetic not your strongest area?!? :)Indeed but it may be Yam arithmetic


A week. Mon it's early and I've only had one coffee. Sorry!! Doh Still Yam arithmetic


So they don't have any stadium improvements factored into their spending plans. That s because they will not be ale to afford any for years.

[07hibee]

That works out at just over 29,000 (21,199 to be precise) a month to pay for players.

Don't think that's a lot really,Heard Killie players get an extra £1000 just for making the bench.

[Aldo]

Don't think that's a lot really,Heard Killie players get an extra £1000 just for making the bench.

It's not but the yams will not understand why they can't get a certain calibre of players for the wages they pay because they are a big club after all.

Wonder if that is including the 300,000 each for May and Mackay in the summer.

[07hibee]

It's not but the yams will not understand why they can't get a certain calibre of players for the wages they pay because they are a big club after all.

Wonder if that is including the 300,000 each for May and Mackay in the summer.
Could be a great source if enjoyment watching them rot !

[Bostonhibby]

Heard on Sportsound last night that Brian McLauglan said there player budget next year would be £1.4m(if they are still trading).
Any idea what Hibs player budget is?

He must be a fortune teller ,an outstanding investigative financial journalist or budgies media tool if he has got that sort of info bearing in mind we are talking about the finances of an entity that does not yet exist, if it does it will be earning championship level revenue on the pitch and has no certainty about its sponsorship earnings. It is likely to have a big drain on whatever those resources are because the master plan includes a crumbling stadium that will need repair or maintenance.

If they require credit its likely to be at a higher level than normal as they have a bit of a track record and uniquely much of the surplus cash they need to create over and above the normal running costs of a championship level team to "buy" the club is reliant on unsecured donations from their fan base.

As I have posted before our family yam told me had cancelled his Diddie payment before xmas because in his view he had played his part in saving them by getting the CVA "agreed". He is a bit thick but there will be others like him and also many well intended but misled yams in there who over the period will have to give up too, this is one of the biggest risks for anyone making decisions based on a business plan / projected earnings. Remains a bit of an unknown but anyone making a straightforward business risk assessment based on that revenue stream will take a defensive position!

[Aldo]

Could be a great source if enjoyment watching them rot !

They are rotting already and the yams are hurting big time. They still have delusions of grandeur but they will be hurting even more when they see who they can actually sign compared to who they want to sign.

[Mikey]

What are the bets that while they scramble (privately) to get hold of the frozen shares over the next few months, they will start a campaign (through media) that it is just a very small technicality that they are not out of admin and therefore should not be punished with any future points penalty.

You can imagine the media outrage that brave Hearts being punished again after all the pain they have gone through just because of some pesky Lithuanian legal system.

I also reckon pishy pants faulkes is odds on to be wheeled out soon to 'use his power and influence on the Lithuanians'

I've no doubt whatsoever that this is what they'll try. They'll say that everything is in place but the Lithuanian legal system is holding them up. It'll be everyone else's fault except their own.

They'll try every trick in the book from "a big boy did it and ran away" right down to "if it wasn't for us you would be speaking German" in an attempt to get the football authorities to allow them to exit administration.

BDO had to liquidate Portsmouth to separate them from Snoras and that's exactly what should happen here too.

It's worth bearing in mind that Portsmouth's shares are still frozen. Just like the Hearts shares :greengrin

[lapsedhibee]

Remains a bit of an unknown but anyone making a straightforward business risk assessment based on that revenue stream will take a defensive position!

:agree: Someone suggested that in previous business ventures Mrs Budge encouraged multi-tasking in her staff to save on outgoings, so there's a chance she'll want to turn out herself at centre back.

[jonty]

Don't think that's a lot really,Heard Killie players get an extra £1000 just for making the bench.

But for the lower divisions, it's perfectly acceptable :wink:


:agree: Someone suggested that in previous business ventures Mrs Budge encouraged multi-tasking in her staff to save on outgoings, so there's a chance she'll want to turn out herself at centre back.

Unlike Romanov who was on the centre of someone's back.

[Hibbyradge]

Unlike Romanov who was on the centre of someone's back.

:top marks

[Eyrie]

More and more Yams will wake up to the fact that, if the shares are defrosted, then their club is safe once Budge takes control. She won't put them into administration if money is tight and, having already purchased them for emotional reasons, won't sell up to the first speculator to come along. The "worst" that will happen is that she runs them on an honest basis ie no overspending, and Budge is a good enough business woman to do just that.

That all means that there won't be any real need for the diddies to damage their family finances with monthly direct debits which cause friction with their wife/sister over not being able to afford a holiday or decent presents for the kids. Indeed they'd be daft not to cancel.

I'm mildly disappointed that Save Hearts In Trouble won't be running the circus from the outset as I was looking forward to the infighting and backbiting that would ensue. Instead Budge will control the club and appoint competent staff to run it (excepting the rumoured return of Levein). However by ensuring that they have to live within their means, she will have the inevitable consequence of making it harder for them to escape the "Championship" and the longer they stay down, the more DDs will be cancelled which damages their finances further. So if they do get promotion it will be harder for them to re-establish themselves in the top flight and this increases the likelihood of them being a yo-yo team at best.

I can live with that outcome.

[Ozyhibby]

If their total player budget for next season is £1.4m then it is less than half of ours. They won't like that at all.

[The Falcon]

Perfectly legal.



Lots of things are perfectly legal here and elsewhere in the world, doesn't make it right I'm afraid.

Like reading the Daily Record in the bath. :greengrin

[CropleyWasGod]

Lots of things are perfectly legal here and elsewhere in the world, doesn't make it right I'm afraid.

Like reading the Daily Record in the bath. :greengrin

It was on my phone. ...honest guv :-)

My previous post was short as I was busy. I should have expanded it to say that I thought we were all past the point where we understood that administration allowed them to bump their debts and spend more money. I was surprised at the poster's surprise.

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[Brooster]

Don't think that's a lot really,Heard Killie players get an extra £1000 just for making the bench.

I find that hard to believe. I've got connections at Killie and I doubt if any of them are even on £1k a week. Happy to be proved wrong though.

[Onion]

What are the bets that while they scramble (privately) to get hold of the frozen shares over the next few months, they will start a campaign (through media) that it is just a very small technicalitythat they are not out of admin and therefore should not be punished with any future points penalty.

You can imagine the media outrage that brave Hearts being punished again after all the pain they have gone through just because of some pesky Lithuanian legal system.

I also reckon pishy pants faulkes is odds on to be wheeled out soon to 'use his power and influence on the Lithuanians'

Hmm, international law, foreign share ownership and potential financial fraud investigations are minor technicalities and no match for a dying local Edinburgh rag and a fat, blustering politician.

[SurferRosa]

How can she fail if Pishybreeks gives her the OK....:coffee:

http://www.dailyrecord.co.uk/sport/football/football-news/former-hearts-chairman-george-foulkes-3147132

[One Day Soon]

Hmm, international law, foreign share ownership and potential financial fraud investigations are minor technicalities and no match for a dying local Edinburgh rag and a fat, blustering politician.

Which one? That's hopelessly imprecise in the context of the cast of political jokers involved around this club.

And you missed out the village idiot investigative journalist ruthlessly leaving no stone unturned.

[greenginger]

How can she fail if Pishybreeks gives her the OK....:coffee:

http://www.dailyrecord.co.uk/sport/football/football-news/former-hearts-chairman-george-foulkes-3147132

Foulkes backed Vlad as well.

For the Yams to let that imbecilic parasite have an opinion on the running of the Club is a measure of their forelock tugging cravenness.

[Jack]

Foulkes backed Vlad as well.

For the Yams to let that imbecilic parasite have an opinion on the running of the Club is a measure of their forelock tugging cravenness.

He'll jump into bed with anyone likely to supply a free lunch and match ticket.

He's nothing but a slaaaaaag!

[Kato]

How can she fail if Pishybreeks gives her the OK....:coffee:

http://www.dailyrecord.co.uk/sport/football/football-news/former-hearts-chairman-george-foulkes-3147132

A lesson to all that politicians have deep pockets, shallow values and forked tongues.

[leggeto]

How many points will they be deducted if they start next season still in admin ?

[Aldo]

How many points will they be deducted if they start next season still in admin ?

I thought it was -15??

Sure someone will be able to confirm this

[Bostonhibby]

He'll jump into bed with anyone likely to supply a free lunch and match ticket.

He's nothing but a slaaaaaag!

:agree: Especially lunch, especially if some else is paying, especially if it's the taxpayer. Never tire of wheeling this out, yam class, minor politician class.

[The Falcon]

It was on my phone. ...honest guv :-)

My previous post was short as I was busy. I should have expanded it to say that I thought we were all past the point where we understood that administration allowed them to bump their debts and spend more money. I was surprised at the poster's surprise.



I am not so sure folk are still surprised. Astounded and disbelieving at the ease with which the debts can be cast aside and normal business resumed perhaps, but no longer surprised.

I am surprised, however, that your phone till works. :wink:

[Bostonhibby]

:agree: Someone suggested that in previous business ventures Mrs Budge encouraged multi-tasking in her staff to save on outgoings, so there's a chance she'll want to turn out herself at centre back.

Could well be, she is certainly shaping up to be a hell of a lot more hands on than any of the previous Save Hearts In Trouble announcements ever implied. Beginning to think she will be wandering Vlad like amongst the illiterate masses signing their foreheads and having her picture taken with their babies :wink:

[leggeto]

I thought it was -15??

Sure someone will be able to confirm this

I was thinking -25 but maybe that's hopeful thinking there

[Aldo]

I was thinking -25 but maybe that's hopeful thinking there

Think that might be for a 2nd or further Administration.
-15 would be just fine cos they would struggle.

I also think the roasters believe they will easily finish in top 2 guaranteeing them either automatic promotion or via the play off.

[leggeto]

Think that might be for a 2nd or further Administration.
-15 would be just fine cos they would struggle.

I also think the roasters believe they will easily finish in top 2 guaranteeing them either automatic promotion or via the play off.

if the shares are still frozen they will be in admin till then I think so there is no way they'll finish in top 2,more like bottom 2 for me

[Aldo]

if the shares are still frozen they will be in admin till then I think so there is no way they'll finish in top 2,more like bottom 2 for me

Hope so. Delusions of grandeur from those roasters and they firmly believe that once they are out of admin then it will be business as usual.

They will be proved o so wrong.

[jonty]

So, on average, how many of the monthly direct debits (given the average contribution of £16) will directly go to paying the interest?
Is it as simple as 4% interest on 6million over a 5yr period?

[jacomo]

Foulkes backed Vlad as well.

For the Yams to let that imbecilic parasite have an opinion on the running of the Club is a measure of their forelock tugging cravenness.

And now very happy to slag Vlad off. What a duplicitous toad this man is.

Presumably Ann Budge has done everything she said she would do? :wink:

[Aldo]

And now very happy to slag Vlad off. What a duplicitous toad this man is. Presumably Ann Budge has done everything she said she would do? :wink:

The exact same way Medals backed mad Vlad to get at Robinson.

They change like the wind.

They are all deluded roasters.

[07hibee]

I find that hard to believe. I've got connections at Killie and I doubt if any of them are even on £1k a week. Happy to be proved wrong though.
Ask your connections then .

[brog]

TBH, I think it's included in the £6.3m. Probably in the first tranche of £1m.

Unfortunately you're probably correct! It does mean however that more than 50% of that first tranche goes straight out the door!

[CropleyWasGod]

Unfortunately you're probably correct! It does mean however that more than 50% of that first tranche goes straight out the door!

As I see it, the first million is to cover the football debt and the close season. The 1.4 is for next season.

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[brog]

I see they were back to only having 5 on the bench today. Stand by for another bunch of sob stories in the press this week. Shameless!

[Aldo]

I see they were back to only having 5 on the bench today. Stand by for another bunch of sob stories in the press this week. Shameless!

It'll be about money Brog.

They can say wtf they want. I am sick to the back teeth of the media etc love in for this cheating thieving *******s. It's about time the media printed the true reason they are where they are.

Rant over

[StevieC]

So, on average, how many of the monthly direct debits (given the average contribution of £16) will directly go to paying the interest?
Is it as simple as 4% interest on 6million over a 5yr period?

The interest is only on £2.5m and it is the interest that would be earned, rather than the level of interest payed on loans (ie hardly anything at the moment).

The other £4m getting talked about is just what the supporters would need to come up with to cover costs, as there's no credit facilities or further money from AB.

The current level of DD's is about £1.4m pa, which is what they are being told they will need to give to the club each year to help cover running costs. If there are DD's cancelled though (due to them thinking the club was now saved) then they will not manage to meet their requirements and (I'm guessing) the club would default to AB and fan ownership would not materialise (ie #didntcreatehistory)

[jonty]

The interest is only on £2.5m and it is the interest that would be earned, rather than the level of interest payed on loans (ie hardly anything at the moment).

The other £4m getting talked about is just what the supporters would need to come up with to cover costs, as there's no credit facilities or further money from AB.

The current level of DD's is about £1.4m pa, which is what they are being told they will need to give to the club each year to help cover running costs. If there are DD's cancelled though (due to them thinking the club was now saved) then they will not manage to meet their requirements and (I'm guessing) the club would default to AB and fan ownership would not materialise (ie #didntcreatehistory)

hmmmm
Using http://www.bllaw.co.uk/services_for_businesses/insolvency_and_recovery/simple_interest_calculator.aspx
it shows almost 275 per day in interest@4% - £0.5m return over the 5 year period. That's over 500 direct debits @£16 per month. Ouch.

[monktonharp]

fatty Foulkes is depriving a village of a perfectly good idiot.

[CyberSauzee]

I see they were back to only having 5 on the bench today. Stand by for another bunch of sob stories in the press this week. Shameless!

You should have been at Harrow Borough this afternoon with me and Sergey rather than an afternoon in front of the keyboard!

[brog]

You should have been at Harrow Borough this afternoon with me and Sergey rather than an afternoon in front of the keyboard!

Well it was a tough call but Mikey P came up with a couple of briefs for Emirates tomorrow! :wink: Catch up soon!

[SurferRosa]

Tom English was all over the radio today talking about what a wonderful example FoH were. How great the fans were. How terrific it was that they`d be fan-owned and how a bright new future awaited. He was almost chanting "follow the yellow brick road".

Yet not a word about the debt they`d bumped, the lives they`d ruined, the charities they robbed or even the fact that the now mythical 'shares' were still tied up in a fraud investigation.

[Joe6-2]

Tom English was all over the radio today talking about what a wonderful example FoH were. How great the fans were. How terrific it was that they`d be fan-owned and how a bright new future awaited. He was almost chanting "follow the yellow brick road".

Yet not a word about the debt they`d bumped, the lives they`d ruined, the charities they robbed or even the fact that the now mythical 'shares' were still tied up in a fraud investigation.

I am continually dumbfounded how blinkered or just plain stupid these journos seem to be, will they ever wake up to the facts!

[Kato]

I am continually dumbfounded how blinkered or just plain stupid these journos seem to be, will they ever wake up to the facts!

The football journalists aren't dumb. If they did a piece on how Hearts have shafted their own community, how Vlad was a trickster using other people's money or how the whole Hearts community back Vlad from the sacking of Burley the employment and public support of paedophiles through to the Shammiest share issue ever, whatkind of welcome do you think they would get at Tynie? No hospitality, no freebies while they sit and write up their little reports. They know what side their bread is buttered.

It requires an actual journalist to write on these things, sports guys will just flap their gums in the same direction as the wind and hoot platitudes . It shows what a piddling little institution HMFC is when no real journalist is interested in their story.

If they ever had Vlad on trial though it would be different as there would be meat on the bones, can't see them catching up with him though.

[Gmack7]

things must be looking up as they clowns are discussing the possible options of the new main stand ranging from 4 million to 10 million,
have they sold holt:wink:

[Geo_1875]

As I see it, the first million is to cover the football debt and the close season. The 1.4 is for next season.

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I doubt they'll be out of admin before the close season.

[CropleyWasGod]

I doubt they'll be out of admin before the close season.

In which case.....:greengrin

[Pete]

things must be looking up as they clowns are discussing the possible options of the new main stand ranging from 4 million to 10 million,
have they sold holt:wink:

Get your debt written off via a sneaky, sniveling CVA then borrow lots more money. Sounds about right.

Cheats: forever in the shadow of administration.

[kaimendhibs]

Tom English was all over the radio today talking about what a wonderful example FoH were. How great the fans were. How terrific it was that they`d be fan-owned and how a bright new future awaited. He was almost chanting "follow the yellow brick road".

Yet not a word about the debt they`d bumped, the lives they`d ruined, the charities they robbed or even the fact that the now mythical 'shares' were still tied up in a fraud investigation.

I texted the show asking why the weren't reporting the truth about the shares being frozen etc!! Needless to say not a word


Sent from my iphone

[07hibee]

I texted the show asking why the weren't reporting the truth about the shares being frozen etc!! Needless to say not a word


Sent from my iphone
Are they defo frozen ?or is that us being deluded hobos 5-1 1902 again

[CropleyWasGod]

Are they defo frozen ?or is that us being deluded hobos 5-1 1902 again

All assets owned by UBIG were frozen in April last year.

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[Boyle89]

All assets owned by UBIG were frozen in April last year.

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That long ago? I hope they remain frozen for the foreseeable future, say the next 5 years, that would do nicely.

[07hibee]

All assets owned by UBIG were frozen in April last year.

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That bank building got sold though ?

[Ozyhibby]

That bank building got sold though ?

When did this happen? Got a link?

[Phil D. Rolls]

I was wondering. I haven't read all the ins and outs of Hearts debt. Why exactly do we call them charity thieves.

Is it because they agreed to give money to a charity, but didn't. Or is it because they collected on behalf of a charity and kept the money for themselves.

For me, you can excuse a company going bust and not meeting a sponsorship commitment, or such like. You can't excuse people that act as a collector for a charity and don't pass the money on.

No matter how dire things are, you are basically saying your cause is more important than the charity.

Can somebody please clarify the situation?

[Ozyhibby]

I was wondering. I haven't read all the ins and outs of Hearts debt. Why exactly do we call them charity thieves.

Is it because they agreed to give money to a charity, but didn't. Or is it because they collected on behalf of a charity and kept the money for themselves.

For me, you can excuse a company going bust and not meeting a sponsorship commitment, or such like. You can't excuse people that act as a collector for a charity and don't pass the money on.

No matter how dire things are, you are basically saying your cause is more important than the charity.

Can somebody please clarify the situation?

They collected £34k on behalf of the Big Hearts community trust and spent it on themselves.

[07hibee]

When did this happen? Got a link?

Not got a link ,but it was in evening news recently

[CropleyWasGod]

That bank building got sold though ?

No it didn't.

There was a report that it is up for sale. The same as the Hearts shares are up for sale.

Neither sale can be completed until the assets are unfrozen.

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[Geo_1875]

That bank building got sold though ?

No it didn't.

[07hibee]

No it didn't.

http://m.edinburghnews.scotsman.com/news/bank-sold-to-pay-ex-hearts-owner-romanov-s-debts-1-3281497

[Phil D. Rolls]

They collected £34k on behalf of the Big Hearts community trust and spent it on themselves.

Surely the police need to investigate?

[CropleyWasGod]

http://m.edinburghnews.scotsman.com/news/bank-sold-to-pay-ex-hearts-owner-romanov-s-debts-1-3281497

Read it properly :-)

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[07hibee]

That says it did ?

[07hibee]

Read it properly :-)

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Yeah see what you mean,so it's not been sold despite that headline?

[Danderhall Hibs]

That says it did ?

Read the article, not the headline.

[ballengeich]

We know that the shares are currently frozen. Hearts' fans don't seem to think this will be a problem, some of ours do.

Can anyone give me a clear statement on what is required to unfreeze the shares? I haven't read anything to say for certain whether it's something that can be decided by a vote of UBIG's creditors, or whether permission from Lithuania's courts or police is required. The answer's critical to Hearts' future.

[07hibee]

Read it properly :-)

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Yeah see what you mean,so it's not been sold despite that headline?

[CropleyWasGod]

Yeah see what you mean,so it's not been sold despite that headline?

Correct :-)

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[CropleyWasGod]

We know that the shares are currently frozen. Hearts' fans don't seem to think this will be a problem, some of ours do.

Can anyone give me a clear statement on what is required to unfreeze the shares? I haven't read anything to say for certain whether it's something that can be decided by a vote of UBIG's creditors, or whether permission from Lithuania's courts or police is required. The answer's critical to Hearts' future.

The Court froze them. Only they can unfreeze them.

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[Jack]

Tom English was all over the radio today talking about what a wonderful example FoH were. How great the fans were. How terrific it was that they`d be fan-owned and how a bright new future awaited. He was almost chanting "follow the yellow brick road".

Yet not a word about the debt they`d bumped, the lives they`d ruined, the charities they robbed or even the fact that the now mythical 'shares' were still tied up in a fraud investigation.

For the sake of clarity the shares you speak of are actual shares.

The mythical shares were the ones the gullible yams bought but never existed beyond a fraudulent brochure.

[SurferRosa]

For the sake of clarity the shares you speak of are actual shares.

The mythical shares were the ones the gullible yams bought but never existed beyond a fraudulent brochure.

You`re quite right of course. :agree:

Wrong word, i should have said " those mystical shares ".

Mystical meaning 'inspiring a sense of mystery, awe, and fascination'. :greengrin

[Kaiser1962]

We know that the shares are currently frozen. Hearts' fans don't seem to think this will be a problem, some of ours do.

Can anyone give me a clear statement on what is required to unfreeze the shares? I haven't read anything to say for certain whether it's something that can be decided by a vote of UBIG's creditors, or whether permission from Lithuania's courts or police is required. The answer's critical to Hearts' future.

Hearts situation is very like that of Portsmouth whose Lithuanian owner's (Vladimir Antonov of Snoras Bank) assetts were frozen in late 2011 under very similar circumstances. They still are.

[bingo70]

Nobody is asking for the portsmouth shares to be unfrozen as they were able to start again as a newco, could that not be the difference between the 2 situations?

[fat freddy]

Hearts situation is very like that of Portsmouth whose Lithuanian owner's (Vladimir Antonov of Snoras Bank) assetts were frozen in late 2011 under very similar circumstances. They still are.

if hearts shares remain frozen while the investigation into their complicit involvement in vlads criminal empire is complete does that mean they will have to be liquidated or are they allowed to continue trading indefinately whilst in administration?

surely they would lose a small fortune in fees to BDO if the administration were to continue into next season?

surely they will recieve the shares in a few weeks as ian murray and the evening news have stated? why else would they stick their necks out on this as they will lose all credibility if the deal isn't rubber stamped?

[#FromTheCapital]

Nobody is asking for the portsmouth shares to be unfrozen as they were able to start again as a newco, could that not be the difference between the 2 situations?

From my limited knowledge this seems to be the major difference between the hearts and Portsmouth situations. Portsmouth didn't fully need their shares to be defrosted whereas hearts do. Got to assume that much more effort will be made to defrost the hearts shares. Although I'm not sure how much of a challenge that will be.

[Weststandwanab]

Nobody is asking for the portsmouth shares to be unfrozen as they were able to start again as a newco, could that not be the difference between the 2 situations? Portsmouth were liquidated so now there is no need to unfreeze the shares. Jambos are desperate to unfreeze the shares to avoid Liquidation.


if hearts shares remain frozen while the investigation into their complicit involvement in vlads criminal empire is complete does that mean they will have to be liquidated or are they allowed to continue trading indefinately whilst in administration?

surely they would lose a small fortune in fees to BDO if the administration were to continue into next season?

surely they will recieve the shares in a few weeks as ian murray and the evening news have stated? why else would they stick their necks out on this as they will lose all credibility if the deal isn't rubber stamped? Once BJ knows they are gong to run out of cash whilst the shares are sill frozen he will have no choice but the big L.

[cam75]

If hearts remain in admin do they get points deduction next season ?

[Mikey]

Nobody is asking for the portsmouth shares to be unfrozen as they were able to start again as a newco, could that not be the difference between the 2 situations?

BDO did try to get the shares but when they were unable to do so they took the liquidation route. It was easier to do it with Portsmouth as their league rules meant that they could just start over again in the same league.

If Hearts are liquidated they go down to League 2 or the Lowland League.

I'm surprised that so many people still think that CWG, CG, PTS and Robinp (people who work in the industry) have just been making it all up for such a sustained period of time.

[Mikey]

If hearts remain in admin do they get points deduction next season ?

Yes. 15 points.

[Mikey]

Once BJ knows they are gong to run out of cash whilst the shares are sill frozen he will have no choice but the big L.

I would expect them to dip into the money raised from the DD's to try and avoid liquidation. That would of course mean remaining in administration and starting next season on -15.

[Weststandwanab]

BDO did try to get the shares but when they were unable to do so they took the liquidation route. It was easier to do it with Portsmouth as their league rules meant that they could just start over again in the same league.

If Hearts are liquidated they go down to League 2 or the Lowland League.

I'm surprised that so many people still think that CWG, CG, PTS and Robinp (people who work in the industry) have just been making it all up for such a sustained period of time. I believe them but then I am a bean counter.


I would expect them to dip into the money raised from the DD's to try and avoid liquidation. That would of course mean remaining in administration and starting next season on -15. I think that is possible but unlikely as it would require a change of constitution of the F.O.H. and that may unsettle the natives.

If the natives allow this they could end up "funding" the funding indefinitely whilst the freezer door remained closed.

If I was BJ I would ask AB for short term funding but only if there was definite date of the fridge door opening.

Otherwise I still say the big L looms.

[semaj64]

I'm surprised that so many people still think that CWG, CG, PTS and Robinp (people who work in the industry) have just been making it all up for such a sustained period of time.

Without taking a fee unlike BDO

[CropleyWasGod]

Without taking a fee unlike BDO

Eh? When the f was that decided? ??

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[Jack]

if hearts shares remain frozen while the investigation into their complicit involvement in vlads criminal empire is complete does that mean they will have to be liquidated or are they allowed to continue trading indefinately whilst in administration?

surely they would lose a small fortune in fees to BDO if the administration were to continue into next season?

surely they will recieve the shares in a few weeks as ian murray and the evening news have stated? why else would they stick their necks out on this as they will lose all credibility if the deal isn't rubber stamped?

What credibility? ;-)

[semaj64]

Eh? When the f was that decided? ??

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Cheques in the post or do you prefer shares

[Weststandwanab]

CWG should get a BACS transfer

[Mikey]

I think that is possible but unlikely as it would require a change of constitution of the F.O.H. and that may unsettle the natives.

If the natives allow this they could end up "funding" the funding indefinitely whilst the freezer door remained closed.

If I was BJ I would ask AB for short term funding but only if there was definite date of the fridge door opening.

Otherwise I still say the big L looms.

I'm still inclined to think that the natives will allow the money built up to be used to avoid dropping to League 2 or below. Budgie might not be too keen on it though.

[Keith_M]

http://m.edinburghnews.scotsman.com/news/bank-sold-to-pay-ex-hearts-owner-romanov-s-debts-1-3281497


The headline says 'Bank Sold' but the article says absolutely nothing more than the following...

"But the sale crumbled after Ubig plunged into administration last November amid claims of financial irregularities. Today, insolvency experts said the former RBS estate – which includes an elaborate banking hall – could be bought for a “knock-down price” at an international auction."

It must count as one of the most misleading (frankly it's just a lie) of all time.

[Keith_M]

Without taking a fee unlike BDO


Eh? When the f was that decided? ??




I've been meaning to ask for a while now if you guys are getting paid from the proceeds of the Hearts sales, just like BDO



:wink:

[Dashing Bob S]

I'm still inclined to think that the natives will allow the money built up to be used to avoid dropping to League 2 or below. Budgie might not be too keen on it though.

Yes, that one might just ruffle a few feathers.

(Sorry, but I couldn't resist - I really did try.)

[Jack Hackett]

I'm still inclined to think that the natives will allow the money built up to be used to avoid dropping to League 2 or below. Budgie might not be too keen on it though.

I don't think she would be too concerned as repayments to her aren't due for a couple of years. Any money FoH used now would be coming out of next season running costs. I agree that the diddies will allow funds to be used to keep them afloat in the short term. Having come this far, they won't really have an option

[07hibee]

The headline says 'Bank Sold' but the article says absolutely nothing more than the following...

"But the sale crumbled after Ubig plunged into administration last November amid claims of financial irregularities. Today, insolvency experts said the former RBS estate – which includes an elaborate banking hall – could be bought for a “knock-down price” at an international auction."

It must count as one of the most misleading (frankly it's just a lie) of all time.

Yeah very misleading ,puts you off buying a paper !

[Dashing Bob S]

I don't think she would be too concerned as repayments to her aren't due for a couple of years. Any money FoH used now would be coming out of next season running costs. I agree that the diddies will allow funds to be used to keep them afloat in the short term. Having come this far, they won't really have an option

It would depend on her motivation for becoming involved in this fiasco. Of she is being transparent and just wants to facilitate fan ownership, then she'll know that the squandering of FOH resources on club operating costs is going to make their purchase of the club from her all the more difficult in the 3-5 year period set. If they couldn't complete this it would presumably mean her being lumbered with them.

If she wants ownership of the club, to either run herself and/or sell as a going concern, she's got it on the cheap (no pun intended) with the fans through FOH having done the dirty work.

It's worth noting that Budge's estimated net worth of 40 mill is pretty small beer in terms of football club ownership and it would be a stretch to be able to afford to buy and run a club with that sort of asset base (much of which might be tied up in personal assets) without any such assistance.

If only she could find some simpletons to buy and run the club for her, defaulting on their promise to complete the transaction through squandering money on actually running the club...

Sadly for her, (if this was her plan, not saying it is, just speculating) such gullible fools do not exist...or do they?

Think of all the fun we might have had if it wasn't for those pesky frozen shares!

But I'm sure liquidation will provide another bundle of laughs!

[ballengeich]

The Court froze them. Only they can unfreeze them.

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I'm still unclear about how difficult this will be. Given that the court has to unfreeze the shares, who could start that process?

Do you know whether the UBIG administrator could ask for them to be unfrozen because an offer regarded as being in the creditors' interest has been received? If that's a possible path our maroon neighbours may not be in too bad a state.

On the other hand, if everything has to remain frozen until criminal investigations are completed they're doomed.

[CropleyWasGod]

I've been meaning to ask for a while now if you guys are getting paid from the proceeds of the Hearts sales, just like BDO



:wink:

I've been meaning to say for a while now. ....

F R O

;-)

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[greenginger]

I'm still unclear about how difficult this will be. Given that the court has to unfreeze the shares, who could start that process?

Do you know whether the UBIG administrator could ask for them to be unfrozen because an offer regarded as being in the creditors' interest has been received? If that's a possible path our maroon neighbours may not be in too bad a state.

On the other hand, if everything has to remain frozen until criminal investigations are completed they're doomed.


I think the process will be for a creditors meeting to be called to elect a creditors committee.

This will consist of reps from companies in Lithuania, Belarus, Bosnia, Ukraine, Russia etc. etc. no doubt having to refer back to admins and courts in their own countries as many creditors will also be in administration. Once the multi-linguistics are sorted and agreements in place to proceed I would guess one of the items up for approval of the committee would an offer of zilch for the shares in HOMFC.

If this is accepted then the UBIG administrator will petition the Lithuanian Court to release the shares. How long would that take to get to court, who knows, will the prosecuter's office contest, could there be an appeal, is there a cooling off period ?

Does AllisBarry have all the answers . :greengrin

[Gus Fring]

I'm still unclear about how difficult this will be. Given that the court has to unfreeze the shares, who could start that process?

Do you know whether the UBIG administrator could ask for them to be unfrozen because an offer regarded as being in the creditors' interest has been received? If that's a possible path our maroon neighbours may not be in too bad a state.

On the other hand, if everything has to remain frozen until criminal investigations are completed they're doomed.

That's exactly what the UBIG administrator is doing just now. They've gotten nowhere thus far though.

Of course, Hearts fans will mock the talk of the frozen shares and deny that such a thing exists. Watch their faces when you ask them to explain why Mrs Budge doesn't have the shares already though :wink:

[ballengeich]

If this is accepted then the UBIG administrator will petition the Lithuanian Court to release the shares. How long would that take to get to court, who knows, will the prosecuter's office contest, could there be an appeal, is there a cooling off period ?

Does AllisBarry have all the answers . :greengrin


That's exactly what the UBIG administrator is doing just now. They've gotten nowhere thus far though.



Thanks. That's the info I was looking for.

[Dashing Bob S]

I'm still unclear about how difficult this will be. Given that the court has to unfreeze the shares, who could start that process?

Do you know whether the UBIG administrator could ask for them to be unfrozen because an offer regarded as being in the creditors' interest has been received? If that's a possible path our maroon neighbours may not be in too bad a state.

On the other hand, if everything has to remain frozen until criminal investigations are completed they're doomed.

This is the absolute crux of the matter, and is the one question that everybody concerned with the future of Hearts should be asking. Yet it's never raised in our press.

I think in the first instance the problem anybody is going to have in asking for one particular small set of assets to be unfrozen, (in what is a huge number in a complicated case) is simply to get a hearing from the court. We keep hearing that the UBIG administrators are going to meet some time next month. What does that actually mean?

The second problem, is the special case pleading. If one set of assets can be unfrozen, it sets a precedence, and it could be seen to prejudice or at least undermine the investigation. I can't think of any court that would permit this.

[Mikey]

Of course, Hearts fans will mock the talk of the frozen shares and deny that such a thing exists. Watch their faces when you ask them to explain why Mrs Budge doesn't have the shares already though :wink:

Yep. It's pretty obvious that they would be out of admin by now if the shares were available. You wonder what they think is holding things up.

[Paperboy]

Anne Budge has the same coloured hair as my late Nana's nicotine stained wallpaper

just saying

[Weststandwanab]

I'm still inclined to think that the natives will allow the money built up to be used to avoid dropping to League 2 or below. Budgie might not be too keen on it though. If it is that or Liquidisation you will be correct - . Budgie has no say.


The headline says 'Bank Sold' but the article says absolutely nothing more than the following...

"But the sale crumbled after Ubig plunged into administration last November amid claims of financial irregularities. Today, insolvency experts said the former RBS estate – which includes an elaborate banking hall – could be bought for a “knock-down price” at an international auction."

It must count as one of the most misleading (frankly it's just a lie) of all time. misleading the Press surely not.


Yeah very misleading ,puts you off buying a paper ! buy no !


It would depend on her motivation for becoming involved in this fiasco. Of she is being transparent and just wants to facilitate fan ownership, then she'll know that the squandering of FOH resources on club operating costs is going to make their purchase of the club from her all the more difficult in the 3-5 year period set. If they couldn't complete this it would presumably mean her being lumbered with them.

If she wants ownership of the club, to either run herself and/or sell as a going concern, she's got it on the cheap (no pun intended) with the fans through FOH having done the dirty work.

It's worth noting that Budge's estimated net worth of 40 mill is pretty small beer in terms of football club ownership and it would be a stretch to be able to afford to buy and run a club with that sort of asset base (much of which might be tied up in personal assets) without any such assistance.

If only she could find some simpletons to buy and run the club for her, defaulting on their promise to complete the transaction through squandering money on actually running the club...

Sadly for her, (if this was her plan, not saying it is, just speculating) such gullible fools do not exist...or do they?

Think of all the fun we might have had if it wasn't for those pesky frozen shares!

But I'm sure liquidation will provide another bundle of laughs! she will be worth nowhere near 40m as she did not own all the shares and there will have been substantial capital gains tax payable if the firm was started from scratch.


I'm still unclear about how difficult this will be. Given that the court has to unfreeze the shares, who could start that process?

Do you know whether the UBIG administrator could ask for them to be unfrozen because an offer regarded as being in the creditors' interest has been received? If that's a possible path our maroon neighbours may not be in too bad a state.

On the other hand, if everything has to remain frozen until criminal investigations are completed they're doomed. Answered your own questions there.

[IWasThere2016]

Eh? When the f was that decided? ??

Sent from my GT-I9100 using Tapatalk

You need an agent!

[Kaiser1962]

Portsmouth were liquidated so now there is no need to unfreeze the shares. Jambos are desperate to unfreeze the shares to avoid Liquidation.


I believe BDO tried quite hard to prevent liquidation at pompey and failed. Just as their primary task is, apparently, to save the company and therefore avoid liquidation, there may be an argument that if they are succcessful in Hearts case why couldnt they have done it for Portsmouth. Surely it wasnt done at Portsmouth merely because it was convenient to do so?

It is also worth mentioning that Ann Budge is getting Hearts and all that they possess for less (in actual £'s and less than half price if adjusted for inflaton) than Farmer stumped up for Hibs 23 years ago.

[Ronniekirk]

This is the absolute crux of the matter, and is the one question that everybody concerned with the future of Hearts should be asking. Yet it's never raised in our press.

I think in the first instance the problem anybody is going to have in asking for one particular small set of assets to be unfrozen, (in what is a huge number in a complicated case) is simply to get a hearing from the court. We keep hearing that the UBIG administrators are going to meet some time next month. What does that actually mean?

The second problem, is the special case pleading. If one set of assets can be unfrozen, it sets a precedence, and it could be seen to prejudice or at least undermine the investigation. I can't think of any court that would permit this.

So is Ann Budge in the know ,and there are tentative dates set ,so she has parameters she is working to . Or is she pledging all this with the possibility they could go into liquidation and have to go Into third division ,hence she is giving them three to five years before she wants her money back .If she was just a Business woman you would say she wouldn't be interested if Liquidation was the most likely outcome but she is a fan with money to burn ,who presumably wants her club to survive at any cost ,but if she can make money out of them as well,all the better .Its intriguing ,as if they had a definite date for a Court date or dates you would think they would be ramming it down our throats .Hence March at earliest is best possible outcome mentioned to date .

[Kaiser1962]

So is Ann Budge in the know ,and there are tentative dates set ,so she has parameters she is working to . Or is she pledging all this with the possibility they could go into liquidation and have to go Into third division ,hence she is giving them three to five years before she wants her money back .If she was just a Business woman you would say she wouldn't be interested if Liquidation was the most likely outcome but she is a fan with money to burn ,who presumably wants her club to survive at any cost ,but if she can make money out of them as well,all the better .Its intriguing ,as if they had a definite date for a Court date or dates you would think they would be ramming it down our throats .Hence March at earliest is best possible outcome mentioned to date .

Ann Budge wont have to hand over a penny until the deal is done.

[lord bunberry]

I wonder if budgie would still be interested in buying them if they were liquidated.

[Eyrie]

I wonder if budgie would still be interested in buying them if they were liquidated.

She wouldn't need to. The club itself (or at least its membership of the league structure) could be picked up for a token £1 plus agreement to meet the football debts in full. The big problem is that they would lose Tynecastle, because builders will jump at the opportunity to buy some prime land in central Edinburgh when the site is marketed separately.

[Crazyhorse]

She wouldn't need to. The club itself (or at least its membership of the league structure) could be picked up for a token £1 plus agreement to meet the football debts in full. The big problem is that they would lose Tynecastle, because builders will jump at the opportunity to buy some prime land in central Edinburgh when the site is marketed separately.

If it is. The Rangers was not dismembered and sold off after liquidation. Can a similar dodgy deal be pulled with the merricks and merrickcastle?

[Dashing Bob S]

So is Ann Budge in the know ,and there are tentative dates set ,so she has parameters she is working to . Or is she pledging all this with the possibility they could go into liquidation and have to go Into third division ,hence she is giving them three to five years before she wants her money back .If she was just a Business woman you would say she wouldn't be interested if Liquidation was the most likely outcome but she is a fan with money to burn ,who presumably wants her club to survive at any cost ,but if she can make money out of them as well,all the better .Its intriguing ,as if they had a definite date for a Court date or dates you would think they would be ramming it down our throats .Hence March at earliest is best possible outcome mentioned to date .

Not sure of her motivations or her knowledge of the process of acquiring the shares but she can do nothing till she has them. But she certainly doesn't have money to burn - see other recent posts. If she buys the club for FOH and runs it as a tight ship she'll be seen, highly reluctantly by Hearts fans used to spenders beyond their means, as a savior who guaranteed the club wouldn't go into liquidation, and who facilitated fan ownership in 3-5 years time, when they pay her back.

However, if they aren't in the position to pay her back, she presumably owns the club. If she sells it, either as a going concern or for its separate assets (pbs land) she becomes a less heroic figure for the Yams. If she wants to buy the club at low cost it's in her interests to bleed FOH during her initial stewardship, thus depleting their cash for a fan owned sale.

The big buzz word around Hearts is agreement. Everybody is in agreement about the shares but the CVA hasn't been completed yet. If it miraculously is, and the Lithuanian courts join this 'agreement gang' then I'm sure Budge and FOH will 'agree' on desirability of fan ownership. I'd just be inclined to doubt it will actually happen.

[Weststandwanab]

I believe BDO tried quite hard to prevent liquidation at pompey and failed. Just as their primary task is, apparently, to save the company and therefore avoid liquidation, there may be an argument that if they are succcessful in Hearts case why couldnt they have done it for Portsmouth. Surely it wasnt done at Portsmouth merely because it was convenient to do so?

It is also worth mentioning that Ann Budge is getting Hearts and all that they possess for less (in actual £'s and less than half price if adjusted for inflaton) than Farmer stumped up for Hibs 23 years ago. In Englandshire there is not automatic relegation to the bottom tier for Liquidation - that is the difference.


So is Ann Budge in the know ,and there are tentative dates set ,so she has parameters she is working to . Or is she pledging all this with the possibility they could go into liquidation and have to go Into third division ,hence she is giving them three to five years before she wants her money back .If she was just a Business woman you would say she wouldn't be interested if Liquidation was the most likely outcome but she is a fan with money to burn ,who presumably wants her club to survive at any cost ,but if she can make money out of them as well,all the better .Its intriguing ,as if they had a definite date for a Court date or dates you would think they would be ramming it down our throats .Hence March at earliest is best possible outcome mentioned to date .If the Big L happens they will not need AB's dough. Once there is a court date they will let us know about it.

[kaimendhibs]

I wonder if budgie would still be interested in buying them if they were liquidated.

Probably, she's a game old bird......sorry, should stick to tweets, oooops


Sent from my iphone

[CropleyWasGod]

If it is. The Rangers was not dismembered and sold off after liquidation. Can a similar dodgy deal be pulled with the merricks and merrickcastle?

No, it can't.

The "dodgy deal" that you mention was built into the Rangers CVA document. It was, effectively, "if you don't vote for Plan A (the CVA), by default Plan B takes effect (liquidation, but at a knockdown price)".

In Hearts case, there is no such Plan B.

[Peevemor]

She wouldn't need to. The club itself (or at least its membership of the league structure) could be picked up for a token £1 plus agreement to meet the football debts in full. The big problem is that they would lose Tynecastle, because builders will jump at the opportunity to buy some prime land in central Edinburgh when the site is marketed separately.

In saying that, for a "new" football club with a large established support, Tynie is worth more as a football stadium (even with only 3 usable stands) than it would be to property developers.

[CropleyWasGod]

In saying that, for a "new" football club with a large established support, Tynie is worth more as a football stadium (even with only 3 usable stands) than it would be to property developers.

It's long been a favourite theory of mine that waiting for them to go Pop and picking them up for a relatively low price was an attractive proposition for someone with money and a maroon scarf.

I am now wondering if AB has half an eye on that very scenario.

[Dashing Bob S]

In saying that, for a "new" football club with a large established support, Tynie is worth more as a football stadium (even with only 3 usable stands) than it would be to property developers.

Worth more than a football stadium to whom?

[Dashing Bob S]

It's long been a favourite theory of mine that waiting for them to go Pop and picking them up for a relatively low price was an attractive proposition for someone with money and a maroon scarf.

I am now wondering if AB has half an eye on that very scenario.

I'm also thinking that could be her game plan. If they liquidate, she can (like anybody else) get them for buttons, but she already has the goodwill of supporters as she supposedly 'assisted' fan ownership.

[CropleyWasGod]

I'm also thinking that could be her game plan. If they liquidate, she can (like anybody else) get them for buttons, but she already has the goodwill of supporters as she supposedly 'assisted' fan ownership.

Given the low value put on the stadium in the CVA, I am not sure that she would get it for much less.

However, the ongoing costs (particularly wages) wouldn't be so high.

[Dashing Bob S]

It's doubtful she'd be able to buy a BIG club through any other circumstances.

[Sergey]

I'm also thinking that could be her game plan. If they liquidate, she can (like anybody else) get them for buttons, but she already has the goodwill of supporters as she supposedly 'assisted' fan ownership.

After speaking recently to a prominent property developer in Scotland, given the correct planning consent, the PBS site is worth upwards of circa £6m - £7m. Said developer would also be happy to let the site rot for a number of years before demolition commenced. Budge will know the true value of the real estate and that's her 'insurance' should it all go breast skywards.

Of course, the caveat remains her getting her hands on the site and shares, but that's a simply a matter of the mythical Banderson 'rubber stamps'.

[Paperboy]

I don't think Budge has Herrts best interest at heart - not when she's apparently been taking advice from Craig Levien!

i for one would be delighted of he got the managers job. After the Scotland debacle I don't think there's many fans or the powers that be that actually like him. Also, Levien seems to employ some sort of siege mentality wherever he goes which is surely a sign that he's paranoid and prone to be wound up.

[Seveno]

I'm surprised that so many people still think that CWG, CG, PTS and Robinp (people who work in the industry) have just been making it all up for such a sustained period of time.

But Accountants always make things up. They make up a set of accounts for the taxman, make up a set of accounts for the bank manager and then they make up they real set of accounts for the owner.

[CropleyWasGod]

But Accountants always make things up. They make up a set of accounts for the taxman, make up a set of accounts for the bank manager and then they make up they real set of accounts for the owner.

Finally. Some sense on this thread.

END OF.

:na na:

[Craig_in_Prague]

After a weekend in Edinburgh, I heard all following things;
- They have the shares
- Budge has bought them
- Potter to be manager assisted by Houston

I heard this from various people, yet its funny not one person ever mentioned frozen shares held in Lithuania.
Not managed to read hibs net all weekend, thank you for the home of the truth!

[Seveno]

I look forward to the day when the Lithuanian court is asked to unfreeze the shares and refuses, giving the reason that UBIG are part of a wide ranging criminal investigation into the Romanov empire.

At that stage, the Yams will finally have to confront the truth - that Mr Romanov was a crook and that their club was funded through the proceeds of crime. Or to keep it simple for them, they are cheats.

[Bostonhibby]

After a weekend in Edinburgh, I heard all following things;
- They have the shares
- Budge has bought them
- Potter to be manager assisted by Houston

I heard this from various people, yet its funny not one person ever mentioned frozen shares held in Lithuania.
Not managed to read hibs net all weekend, thank you for the home of the truth!

Any news on when the share certificates are being issued or how they got on with the Champions league win?

[lapsedhibee]

I look forward to the day when the Lithuanian court is asked to unfreeze the shares and refuses, giving the reason that UBIG are part of a wide ranging criminal investigation into the Romanov empire.

At that stage, the Yams will finally have to confront the truth - that Mr Romanov was a crook and that their club was funded through the proceeds of crime. Or to keep it simple for them, they are cheats.

They won't though. Their interpretation will be "Why should we be punished for a criminal's activities? It was bad enough us being punished for someone else's financial mismanagement, but now we're being punished for an established criminal's wrongdoing! It would be like when your house gets burgled, the burglar gets caught and then you get fined for having had your house burgled."

[StevieC]

Any news on when the share certificates are being issued

The share certificates are to be issued after the CVA has been completed.

[CropleyWasGod]

The share certificates are to be issued after the CVA has been completed.

:agree:

[Springbank]

In saying that, for a "new" football club with a large established support, Tynie is worth more as a football stadium (even with only 3 usable stands) than it would be to property developers.

I would just repeat that, in my opinion, based on the pre mercer decade (when hearts lived within their means and were walloped all over the nation) there is no "large established support" unless there is a large unaccounted for credit card.

As credit is tightened their crowds will drop, in close correlation

[Weststandwanab]

It's long been a favourite theory of mine that waiting for them to go Pop and picking them up for a relatively low price was an attractive proposition for someone with money and a maroon scarf.

I am now wondering if AB has half an eye on that very scenario.I am sure she has.


I'm also thinking that could be her game plan. If they liquidate, she can (like anybody else) get them for buttons, but she already has the goodwill of supporters as she supposedly 'assisted' fan ownership. Goodwill counts for nothing in a bidding war.


But Accountants always make things up. They make up a set of accounts for the taxman, make up a set of accounts for the bank manager and then they make up they real set of accounts for the owner. Do you know a good solicitor ?

[The Green Goblin]

They won't though. Their interpretation will be "Why should we be punished for a criminal's activities? It was bad enough us being punished for someone else's financial mismanagement, but now we're being punished for an established criminal's wrongdoing! It would be like when your house gets burgled, the burglar gets caught and then you get fined for having had your house burgled."

You forgot to mention in your analogy that the homeowner was standing there the whole time shouting "c'mon the burglar" and celebrating every time he succeeded in taking anything valuable. :greengrin

[Billy Whizz]

The share certificates are to be issued after the CVA has been completed.

Maybe they can put them on the wall's outside Tynie, similar to what we did with the East Terrace bricks

[Dashing Bob S]

I am sure she has.

Goodwill counts for nothing in a bidding war.

Do you know a good solicitor ?

Generally I would agree, but football always has the potential to mobilise an angry mob. Hibs v Mercer and the reaction of some Hearts fans to Shoeshine Bob Jamieson's intervention spring to mind, and the hostility might be a little rich for the blood of a local person. Though an out of town/country developer wouldn't care about that.

[lapsedhibee]

You forgot to mention in your analogy that the homeowner was standing there the whole time shouting "c'mon the burglar" and celebrating every time he succeeded in taking anything valuable. :greengrin

:thumbsup:

[brog]

It's interesting to note that the MSM are already largely referring to Ann Budge, sorry, Mrs Budge, as the owner of Hawrts! So much for making history & the greatest fans' movement ever. I would be prepared to take large bets that F of H will never have ownership of Yams, unfortunately!

[AltheHibby]

But Accountants always make things up. They make up a set of accounts for the taxman, make up a set of accounts for the bank manager and then they make up they real set of accounts for the owner.

You forgot the set for the about to be ex-wife's lawyer. :greengrin

[jdships]

It's interesting to note that the MSM are already largely referring to Ann Budge, sorry, Mrs Budge, as the owner of Hawrts! So much for making history & the greatest fans' movement ever. I would be prepared to take large bets that F of H will never have ownership of Yams, unfortunately!

Interesting point you make .
My son , who works alongside a number of Hearts " faithfull " , spoke of a number of them mentioning this earlier in the week !
Many feel the situation will never arise for the F of H to be in a true financial position to acquire Mrs B's holding plus have enough " spending money" to maintain the club . :confused:

Could all be bit of a smokescreen and eventually she will sell her shares to the highest bidder which will take them back to exactly where they started ala Mercer/Robinson/Romanov :na na:

[EK_Hibs]

[/U][/B]
Could all be bit of a smokescreen and eventually she will sell her shares to the highest bidder which will take them back to exactly where they started ala Mercer/Robinson/Romanov :na na:

Although that would be an ideal route for the Yams' soon to be 'owner' to take unfortunately she can't sell them to any party other than the Fannies.
'Binding agreement' yada yada yada

[CropleyWasGod]

It's interesting to note that the MSM are already largely referring to Ann Budge, sorry, Mrs Budge, as the owner of Hawrts! So much for making history & the greatest fans' movement ever. I would be prepared to take large bets that F of H will never have ownership of Yams, unfortunately!

I am still unclear about this.

FOH are the proposed new owners in the provisional CVA. Therefore they would take the shares initially, before (as I understand it) transferring them to Bidco.

If that's correct, then I might take that bet :greengrin

[EK_Hibs]

I am still unclear about this.

FOH are the proposed new owners in the provisional CVA. Therefore they would take the shares initially, before (as I understand it) transferring them to Bidco.

If that's correct, then I might take that bet :greengrin

It's not, Bidco will own the thing first, then Fannies

[CropleyWasGod]

It's not, Bidco will own the thing first, then Fannies

FOH are the named buyers in the CVA, are they not?

[EK_Hibs]

FOH are the named buyers in the CVA, are they not?

No, pretty sure it's Bidco.

[CropleyWasGod]

No, pretty sure it's Bidco.

I have the BDO report in my office, which I will dig out tomorrow, but this is the BBC report.

http://www.bbc.co.uk/sport/0/football/25154126

BIDCO were never named as a bidder.

[Gus Fring]

My understanding is that they will be transferred to FOH who will then immediately hand them over to BIDCO. FOH don't have the money to meet the terms of the CVA so BIDCO are funding it. FOH will then get them back after they've paid off that money.

This is proving to be a tough one to explain to the pith authorities I'm told. The point of freezing the shares is to stop them from being passed from company to company in the event of a criminal investigation. BDO are asking for them to be unfrozen to give to FOH who then want to pass them on to yet another company straight away adding another 2 degrees of separation to the shares.

BDO - "Can you unfreeze the shares please?"
Liths - "Why"
BDO - "So the FOH can buy them"
Liths - "And what will this FOH do with them"
BDO - "Give them to another company for use in a ponzi scheme to further defraud a bunch of nutters they've found here in Scotland"
Liths - "Ok then"
BDO - "Magic! By the way whilst we're on the phone, any news on those Portsmouth shares?"
Liths - *Click*
BDO - "Hello? Hello?"

[Weststandwanab]

FOH are the named buyers in the CVA, are they not? They are.


I have the BDO report in my office, which I will dig out tomorrow, but this is the BBC report.

http://www.bbc.co.uk/sport/0/football/25154126

BIDCO were never named as a bidder. A shift of goal posts.

[CropleyWasGod]

My understanding is that they will be transferred to FOH who will then immediately hand them over to BIDCO. FOH don't have the money to meet the terms of the CVA so BIDCO are funding it. FOH will then get them back after they've paid off that money.

This is proving to be a tough one to explain to the pith authorities I'm told. The point of freezing the shares is to stop them from being passed from company to company in the event of a criminal investigation. BDO are asking for them to be unfrozen to give to FOH who then want to pass them on to yet another company straight away adding another 2 degrees of separation to the shares.

BDO - "Can you unfreeze the shares please?"
Liths - "Why"
BDO - "So the FOH can buy them"
Liths - "And what will this FOH do with them"
BDO - "Give them to another company for use in a ponzi scheme to further defraud a bunch of nutters they've found here in Scotland"
Liths - "Ok then"
BDO - "Magic! By the way whilst we're on the phone, any news on those Portsmouth shares?"
Liths - *Click*
BDO - "Hello? Hello?"

Stoatir :-)

Sent from my GT-I9100 using Tapatalk

[Mikey09]

Sorry. I am confused (yes I know, again!!) How can a group be named preferred bidder, agree a CVA yet NOT take control if successful?? How the hell does that work?! :confused:

[CropleyWasGod]

Sorry. I am confused (yes I know, again!!) How can a group be named preferred bidder, agree a CVA yet NOT take control if successful?? How the hell does that work?! :confused:

They will, momentarily.

Then, to paraphrase Kevin Spacey. ....in a puff, they're gone.

Sent from my GT-I9100 using Tapatalk

[Mikey09]

They will, momentarily.

Then, to paraphrase Kevin Spacey. ....in a puff, they're gone.

Sent from my GT-I9100 using Tapatalk


Will the Liths find this acceptable knowing a VERY wealthy hearts fan is getting her hands on the club for a pittance? "Fans takeover blah blah blah.... Take pity on them blah blah blah.... Oh wait Mr lith, we forgot to mention it's a multi millionaire taking control, sorry bout that."

[O'Rourke3]

A bit of a dogleg here but a few pages back there's discussion of a £1.4M player budget. Do we know what the Manager budget is? Presumably bottles of urine plus receipted expenses means that GL is a shoo-in for the job. £600K-£1M suggests Harry Potter. If an ex Scotland player with no management experience can command £800K P/A in the third division how much should an ex Scotland manager command. After all Barca built their tactics around his myopic vision.

[greenginger]

I have the BDO report in my office, which I will dig out tomorrow, but this is the BBC report.

http://www.bbc.co.uk/sport/0/football/25154126

BIDCO were never named as a bidder.

The CVA names FoH as the purchaser of HOMFC.

The CVA is dated 29/11/2013 , Bidco 1874 was not incorporated until 6/1/2014.

[CropleyWasGod]

The CVA names FoH as the purchaser of HOMFC.

The CVA is dated 29/11/2013 , Bidco 1874 was not incorporated until 6/1/2014.

...which supports my theory about what the proposed scenario is.
Robin will know, but I doubt that the CVA can be changed in such a fundamental element.

Sent from my GT-I9100 using Tapatalk

[Sergey]

The CVA names FoH as the purchaser of HOMFC.

The CVA is dated 29/11/2013 , Bidco 1874 was not incorporated until 6/1/2014.


...which supports my theory about what the proposed scenario is.
Robin will know, but I doubt that the CVA can be changed in such a fundamental element.

Sent from my GT-I9100 using Tapatalk

We might just be a bunch of peg-selling junkies, but we won't miss a caveat in this whole farce.

In .net we trust :thumbsup:

[Gus Fring]

We might just be a bunch of peg-selling junkies, but we won't miss a caveat in this whole farce.

In .net we trust :thumbsup:

You forgot straw clutching bitter hobo fantasist.

[Kaiser1962]

In Englandshire there is not automatic relegation to the bottom tier for Liquidation - that is the difference.


Their task is to save the company from liquidation if thats possible to do so.

[Sergey]

You forgot straw clutching bitter hobo fantasist.

Speak for yourself, as I've far lower criticism and bile comments to maintain (without PM'ing my knob...allegedly).

Your 'Straw Clutching Bitter Hobo Fantasist' does have a good ring to it.

*Disclaimer - a post with fantasist, knob and ring in it, does not insinuate that I'm in any way a Jambo.

[Jack]

Is S.H.I.T. not an umbrella name for BIDCO, FANCO and another CO I can't remember?

If so then I can't see the problem.

[Phil D. Rolls]

You forgot straw clutching bitter hobo fantasist.

10 hours till I go for my Methadone.

[Mikey09]

...which supports my theory about what the proposed scenario is.
Robin will know, but I doubt that the CVA can be changed in such a fundamental element.

Sent from my GT-I9100 using Tapatalk


So would BDO have to go through the entire CVA process again since FOH have completely changed there proposed takeover of the club??

[CropleyWasGod]

So would BDO have to go through the entire CVA process again since FOH have completely changed there proposed takeover of the club??

Don't think so.

FOH would complete the takeover in my scenario. And then Immediately transfer the shares to BIDCO.

Sent from my GT-I9100 using Tapatalk

[Mikey09]

Don't think so.

FOH would complete the takeover in my scenario. And then Immediately transfer the shares to BIDCO.

Sent from my GT-I9100 using Tapatalk


Jeezo.... I wish I had went to sleep earlier. Ma heeds bursting now!!! It's too late for this nonsense.

[greenginger]

Don't think so.

FOH would complete the takeover in my scenario. And then Immediately transfer the shares to BIDCO.

Sent from my GT-I9100 using Tapatalk

I'm sure the lawyers could stitch together a deal like that in the normal run of business but,

How would it sit with insolvency practice regs , would the SPFL or SFA be happy to see a club and footballing license get shunted about and would they want FoH to be approved and registered as owners before the club can get passed to Bidco 1874.

Also, FoH themselves will have to have a vote to approve the transfer of the asset they were created to acquire.

All.very.Complex

[Gus Fring]

I'm sure the lawyers could stitch together a deal like that in the normal run of business but,

How would it sit with insolvency practice regs , would the SPFL or SFA be happy to see a club and footballing license get shunted about and would they want FoH to be approved and registered as owners before the club can get passed to Bidco 1874.

Also, FoH themselves will have to have a vote to approve the transfer of the asset they were created to acquire.

All.very.Complex

I don't believe the footballing license will be affected because the company is staying the same (if they exit administration). It's no different from when Tom Farmer took us over.

The FOH don't have to vote as it's already been decided. They've had their meetings about what will happen if and when the shares become available.

[Weststandwanab]

The CVA names FoH as the purchaser of HOMFC.

The CVA is dated 29/11/2013 , Bidco 1874 was not incorporated until 6/1/2014. Good spot.


Their task is to save the company from liquidation if thats possible to do so. Indeed and it was not possible because of frozen shares.


Is S.H.I.T. not an umbrella name for BIDCO, FANCO and another CO I can't remember?

If so then I can't see the problem.
Diddyco

[Mikey]

So my good friend and "respected" poster on Brokeback has just told me BDO will announce in the next couple of days that a deal has been reached with the Lith's. Admin will be exited in 4-6 weeks.

Specifically asked for Sergey's view on this (they don't like you over there!).

That's 4 weeks up :greengrin

Any chance you can ask yer man how confident he is of them coming out of admin in the next 2 weeks? Don't forget to remind him of the frozen shares and the fact that there are still no dates set for the necessary meetings in Lithuania :wink:

2 weeks might be a little tight :Romanov:

[lord bunberry]

I don't believe the footballing license will be affected because the company is staying the same (if they exit administration). It's no different from when Tom Farmer took us over.

The FOH don't have to vote as it's already been decided. They've had their meetings about what will happen if and when the shares become available.
But will the owners of the footballing license not change and would that not require the spfl and sfa to conduct fit and proper persons checks. The owners of the license will effectively be with 3 different companies in a very short space of time.

[Weststandwanab]

But will the owners of the footballing license not change and would that not require the spfl and sfa to conduct fit and proper persons checks. The owners of the license will effectively be with 3 different companies in a very short space of time. Spot on IMO - that will be a hurdle - sorry another hurdle which is pointless considering until the freezer door opens.

[Ronniekirk]

That's 4 weeks up :greengrin

Any chance you can ask yer man how confident he is of them coming out of admin in the next 2 weeks? Don't forget to remind him of the frozen shares and the fact that there are still no dates set for the necessary meetings in Lithuania :wink:

2 weeks might be a little tight :Romanov:

They have been very good at gradually putting the date of getting this farce sorted out ,while feeding the media and their fans wee snippets of information with a wee reminder it might not now happen till end of March /April . if they can do something sooner they will be claiming the credit and by March we will see if they are pushing it back to defo April now .Obviously the new Queen of Hearts has entered the Fray and given it some momentum for next few weeks but apart from telling us there is now a date set for the Lithuanian Courts to meet and make a decision on frozen shares is there any other wee twist anyone expects

[worcesterhibby]

Spot on IMO - that will be a hurdle - sorry another hurdle which is pointless considering until the freezer door opens.

To be honest I doubt it will be much of a hurdle..The SPFL are not going to turndown a fans group with money in the bank and an MP heading things up…neither are they likely to turn down Budgie as she has a good history and money in the bank too. For once I suspect it WILL actually be a rubber stamping exercise !

[CropleyWasGod]

But will the owners of the footballing license not change and would that not require the spfl and sfa to conduct fit and proper persons checks. The owners of the license will effectively be with 3 different companies in a very short space of time.

No they won't.

HMFC (the company) own the licence. At the moment, UBIG and UKIO are the main shareholders in that company. If FOH/BIDCO/whoever buy these shares, it's only the shares that change hands. HMFC will own the licence throughout.

The fit and proper checks will be on the officers of the company, HMFC. In other words, Ann Budge and anyone else who is appointed.

[lord bunberry]

No they won't.

HMFC (the company) own the licence. At the moment, UBIG and UKIO are the main shareholders in that company. If FOH/BIDCO/whoever buy these shares, it's only the shares that change hands. HMFC will own the licence throughout.

The fit and proper checks will be on the officers of the company, HMFC. In other words, Ann Budge and anyone else who is appointed.

Is that not the same thing as I was saying ? There will be three different owners of hmfc and hmfc own the license. What I was asking is will there have to be a fit and proper persons check and any other processes that need to be done to buy a football club on foh then the same thing again for budgie?

[CropleyWasGod]

Is that not the same thing as I was saying ? There will be three different owners of hmfc and hmfc own the license. What I was asking is will there have to be a fit and proper persons check and any other processes that need to be done to buy a football club on foh then the same thing again for budgie?

The fit and proper persons check is a self-assessment process. FOH's participants should complete that, as should BIDCO, but it wouldn't necessarily hold the process up.

Once the SPFL review the submissions (by which time there should be two of them), they would make a judgement on whether the licence is/has been held by fit and proper people. Any sanction would then be on the club, but it wouldn't have held up the process, which is my main point.

[Weststandwanab]

Is that not the same thing as I was saying ? There will be three different owners of hmfc and hmfc own the license. What I was asking is will there have to be a fit and proper persons check and any other processes that need to be done to buy a football club on foh then the same thing again for budgie? CWG is correct but I believe you position is also correct. AB will be no problem in passing the fit and proper test it is who comes after AB is the issue and that may happen minutes after AB stumps up the cash assuming the Freezer door opens.

I remember correctly the rules regarding fit and proper changed after the Sevco fiasco in he sense it would be AB's responsibility to ascertain whomever she sells to is fit and proper".

[CropleyWasGod]

CWG is correct but I believe you position is also correct. AB will be no problem in passing the fit and proper test it is who comes after AB is the issue and that may happen minutes after AB stumps up the cash assuming the Freezer door opens.

I remember correctly the rules regarding fit and proper changed after the Sevco fiasco in he sense it would be AB's responsibility to ascertain whomever she sells to is fit and proper".

AB is second in the process IMO. FOH are first and, in theory, third.

[Weststandwanab]

AB is second in the process IMO. FOH are first and, in theory, third. Yes I would agree with that. F.O.H. will not fail the first time (Ian - I was an M.P.) will be fine, AB will be fine it is who represents F.O.H. the third time that will be interesting.

For instance if it was Medals that may be a different story.

[Mikey09]

AB is second in the process IMO. FOH are first and, in theory, third.


So FOH buy the club..... They hand it all over to ann budge who in short does all the hard work and makes all the unpopular decisions to sort out there mess before handing it back to FOH saying "DONT **** IT UP!!!"

[CropleyWasGod]

So FOH buy the club..... They hand it all over to ann budge who in short does all the hard work and makes all the unpopular decisions to sort out there mess before handing it back to FOH saying "DONT **** IT UP!!!"

Yep.

What could possibly go wrong?

:cb

[Weststandwanab]

Yep.

What could possibly go wrong?

:cb Now that is a different question but a good one. Can we take this up when the Freezer door opens ?

[Mikey09]

Yep.

What could possibly go wrong?

:cb


Apart from the yams turning on Ann as they won't be spending **** loads of cash on players... And that IF the fans group does take control eventually, knowing them it will be spend spend spend!!! The in fighting and arguing would be fun to watch as well.... Apart from that then I can't see much going wrong. :wink:

[lapsedhibee]

Is S.H.I.T. not an umbrella name for BIDCO, FANCO and another CO I can't remember?




Diddyco

At first I was remembering Diddyco as a .net construct rather than an official entity. But since more sense comes out of .net on this subject than anywhere else, it should probably be regarded as at least as valid as the other two. :agree:

[Weststandwanab]

At first I was remembering Diddyco as a .net construct rather than an official entity. But since more sense comes out of .net on this subject than anywhere else, it should probably be regarded as at least as valid as the other two. :agree:I referred to the Direct Debit contributors to F.O.H. as "Diddies" and somebody on .net coined the phrase -excuse the pun- Diddyco..

[McSwanky]

This is turning out just fine.

So, theoretically, I'm your typical Hearts fan.

(**** off, I said, theoretcially.)

I've been donating my hard earned for a few months now with no return. But that's ok, as I'm going to own my own little bit of my beloved club very soon. (Or at least very soon after they fire up the Mirowave for those stupid we shares. They're still trying to work out the manual for the mirowave by the way, and it's written in Chinese.)

I'll continue to donate until finally we get control of the club. We've done it! Woohoo!

5 minutes later, we sell the club to BudgeCo. I'll continue to donate though, even though we have no control over the club.

In five years time, we'll buy the club again. And all will, indeed, be barry. Except I got bored after 12 months and stopped donating.

Oops.

[CropleyWasGod]

This is turning out just fine.

So, theoretically, I'm your typical Hearts fan.

(**** off, I said, theoretcially.)

I've been donating my hard earned for a few months now with no return. But that's ok, as I'm going to own my own little bit of my beloved club very soon. (Or at least very soon after they fire up the Mirowave for those stupid we shares. They're still trying to work out the manual for the mirowave by the way, and it's written in Chinese.)

I'll continue to donate until finally we get control of the club. We've done it! Woohoo!

5 minutes later, we sell the club to BudgeCo. I'll continue to donate though, even though we have no control over the club.

In five years time, we'll buy the club again. And all will, indeed, be barry. Except I got bored after 12 months and stopped donating.

Oops.

Yup, you have passed the theory test.

LTYF.

[McSwanky]

LTYF.

Theoretically.

[Jack Hackett]

Theoretically.

Nah. Not a single reference to 1-5, 1902 or wee team. So he fails the theory test. Plastic yam

[McSwanky]

Nah. Not a single reference to 1-5, 1902 or wee team. So he fails the theory test. Plastic yam

I've been un-outed. Theoretically.

#allverycomplex

[CropleyWasGod]

Nah. Not a single reference to 1-5, 1902 or wee team. So he fails the theory test. Plastic yam

He did say 5...... twice.

We should keep an eye on him.

[Mikey09]

Think you missed out....... ALWAYS IN OUR SHADOW, BIGGEST FAN MOVEMENT THE WORLD HAS EVER SEEN, #allisbarry, WE ARE UNBEATABLE (remember that one?!) WORLD CUP STARS, CHAMPIONS LEAGUE WINNERS WITHIN 5 YEARS (Possibly the funniest one of the lot) Blah Blah Blah... Yada Yada Yada......

[Mikey09]

See there are a lot of "guests" browsing .net. To some of them... Only 60 monthly payments to go and you might have control of your club. As you all used to say.... "BELIEVE". :thumbsup:

[Mikey]

See there are a lot of "guests" browsing .net. To some of them... Only 60 monthly payments to go and you might have control of your club. As you all used to say.... "BELIEVE". :thumbsup:

They know where to find accurate info :wink:

[Mikey09]

They know where to find accurate info :wink:


My yam pal spat the dummy out yesterday..... After winding him up he said... "The only wee thing you have left is the frozen shares ya Hibs prick!" My reply?? " Yep... Such a small issue right enough".

:na na:

[Dashing Bob S]

So FOH buy the club..... They hand it all over to ann budge who in short does all the hard work and makes all the unpopular decisions to sort out there mess before handing it back to FOH saying "DONT **** IT UP!!!"

Basically yes, but surely this scenario only applies if she's sincere about facilitating fan ownership. If she wants to own the club herself it's in her interests to spend as much FOH money on operating it during her initial stewardship, so that they don't have enough to complete the sale...

[Ozyhibby]

I love how the main topic of conversation on kickback is the design of a new stand and filling in the corners when they only have enough money for another 6 weeks.

[RyeSloan]

May have missed this but what happens to the PBS in a liquidation event? Would the ownership of the stadium not transfer to UBIG as they have the security?

[CropleyWasGod]

May have missed this but what happens to the PBS in a liquidation event? Would the ownership of the stadium not transfer to UBIG as they have the security?

It would be sold to the highest bidder, and UKIO (not UBIG) would get the first £6.8m after the liquidator's fees.

[SurferRosa]

I love how the main topic of conversation on kickback is the design of a new stand and filling in the corners when they only have enough money for another 6 weeks.

But dont you know that in 5 years they`ll be fan-owned which`ll easily give them the cash they need to take on the Old Firm, win Scottish Cups every year and tussle with the might of Europe in the Champions League. They`re going to need that new stand if their going to try and squeeze some of the 400 000 in.

Dont dare think for a moment they`ll go the way of Dundee, another big club who cheated, who now dont have a pot to pish in and who`s fans said that.......(what`s happened to them).......wouldn`t happen to them.

[lord bunberry]

I love how the main topic of conversation on kickback is the design of a new stand and filling in the corners when they only have enough money for another 6 weeks.

I've not had a look over there for a while, does the question of how they're going to pay for a new main stand ever come up?

[Ozyhibby]

But dont you know that in 5 years they`ll be fan-owned which`ll easily give them the cash they need to take on the Old Firm, win Scottish Cups every year and tussle with the might of Europe in the Champions League. They`re going to need that new stand if their going to try and squeeze some of the 400 000 in.

Dont dare think for a moment they`ll go the way of Dundee, another big club who cheated, who now dont have a pot to pish in and who`s fans said that.......(what`s happened to them).......wouldn`t happen to them.

And who's fans never miss an opportunity to tell people they are the BIG club in Dundee despite all the evidence to the contrary.

[Seveno]

Just on my way back from Weegieland where I caught with a friend who is unfortunately a fan of The Rangers and as sensible a person as you would expect to meet.

He genuinely believes that that Championship will be a better league than the SPFL next season with them, Hearts, Dunfermline, Falkirk and Hamilton. He no doubt recalls those days of yesteryear when a match between Rangers and Hamilton was an eagerly awaited fixture.

Football fans in denial are a curious beast are they not ?

[GreenLake]

But dont you know that in 5 years they`ll be fan-owned which`ll easily give them the cash they need to take on the Old Firm, win Scottish Cups every year and tussle with the might of Europe in the Champions League. They`re going to need that new stand if their going to try and squeeze some of the 400 000 in.

Dont dare think for a moment they`ll go the way of Dundee, another big club who cheated, who now dont have a pot to pish in and who`s fans said that.......(what`s happened to them).......wouldn`t happen to them.

Their scouts will be watching the summer World Cup games in Brazil to line up transfer targets for the team next year. It will soon be forgotten that hearts stiffed players for their wages or docked them by half in "voluntary" agreements with the big team. As for the new stand, the pencils will be lined up for sharpening at the top architecture firms in Vienna, Shanghai and Singapore.

[Kaiser1962]

Indeed and it was not possible because of frozen shares.



Pretty much. But the question that could then be asked would be that were Pompey liquidated simply because it had no effect on their league position? Whereas Hearts, under current rules, could find themselves at the bottom of the pyramid structure despite being in a near identical situation to Portsmouth. If I was at all cynical it would appear from this that the difference in league rules is their main motivation to get the shares unfrozen, and trying that bit harder this time.

Just throwing it out there. :cb

[CropleyWasGod]

Pretty much. But the question that could then be asked would be that were Pompey liquidated simply because it had no effect on their league position? Whereas Hearts, under current rules, could find themselves at the bottom of the pyramid structure despite being in a near identical situation to Portsmouth. If I was at all cynical it would appear from this that the difference in league rules is their main motivation to get the shares unfrozen, and trying that bit harder this time.

Just throwing it out there. :cb

There is no doubt in my mind that they (BDO, at least, and probably the UBIG admins as well) will be trying their best to have the shares unfrozen. Perhaps, as you say, those efforts will be greater than they were at Portsmouth. However, Bryan Jackson has consistently said that getting the shares will be his toughest job. Given BDO's previous with Lithuania, he'll know how hard that is.

[greenginger]

Pretty much. But the question that could then be asked would be that were Pompey liquidated simply because it had no effect on their league position? Whereas Hearts, under current rules, could find themselves at the bottom of the pyramid structure despite being in a near identical situation to Portsmouth. If I was at all cynical it would appear from this that the difference in league rules is their main motivation to get the shares unfrozen, and trying that bit harder this time.

Just throwing it out there. :cb

Try harder , how ? say please, please, please let us have our shares instead of just please can we have our shares like Pompey must have done.

[greenginger]

Does anyone have a link to the Chris Robinson report on the state of the PBS that was being quoted on here a couple of days ago.

There is someone I know who should be given a copy . :wink:

[Brummie_Hibs]

Does anyone have a link to the Chris Robinson report on the state of the PBS that was being quoted on here a couple of days ago.

There is someone I know who should be given a copy . :wink:

http://www.zinescene.pwp.blueyonder.co.uk/MOBpurpose.htm

[Weststandwanab]

Pretty much. But the question that could then be asked would be that were Pompey liquidated simply because it had no effect on their league position? Whereas Hearts, under current rules, could find themselves at the bottom of the pyramid structure despite being in a near identical situation to Portsmouth. If I was at all cynical it would appear from this that the difference in league rules is their main motivation to get the shares unfrozen, and trying that bit harder this time.

Just throwing it out there. :cbA valid point and I would suggest had the position in Scotland been the same as in Englandshire then we would be in a different place by now.


There is no doubt in my mind that they (BDO, at least, and probably the UBIG admins as well) will be trying their best to have the shares unfrozen. Perhaps, as you say, those efforts will be greater than they were at Portsmouth. However, Bryan Jackson has consistently said that getting the shares will be his toughest job. Given BDO's previous with Lithuania, he'll know how hard that is. absolutely and . I still think he could run out of cash before the freezer opens.

[southsider]

Just on my way back from Weegieland where I caught with a friend who is unfortunately a fan of The Rangers and as sensible a person as you would expect to meet.

He genuinely believes that that Championship will be a better league than the SPFL next season with them, Hearts, Dunfermline, Falkirk and Hamilton. He no doubt recalls those days of yesteryear when a match between Rangers and Hamilton was an eagerly awaited fixture.

Football fans in denial are a curious beast are they not ?
Tell your friend that Admin 2 is just round the corner.

[Phil D. Rolls]

http://www.zinescene.pwp.blueyonder.co.uk/MOBpurpose.htm

Typical bowling club officiousness in that. No doubt they had a point to make, but the mangled English makes it eye bleedingly difficult to read.

[Kaiser1962]

There is no doubt in my mind that they (BDO, at least, and probably the UBIG admins as well) will be trying their best to have the shares unfrozen. Perhaps, as you say, those efforts will be greater than they were at Portsmouth. However, Bryan Jackson has consistently said that getting the shares will be his toughest job. Given BDO's previous with Lithuania, he'll know how hard that is.

In fairness its not BJ or BDO who are saying that this is a done deal. Its others who seem to conveniently forget the shares are frozen and disregard the similarities with the Portsmouth situation because it suits then to do so.


Try harder , how ? say please, please, please let us have our shares instead of just please can we have our shares like Pompey must have done.

They might add another please. That could clinch it. :greengrin

[jacomo]

Typical bowling club officiousness in that. No doubt they had a point to make, but the mangled English makes it eye bleedingly difficult to read.

It's fair to say that Chris Robinson overplayed his hand.

His document kicked off a long running debate about UEFA compliance for football pitches, yet in recent seasons Tynecastle has hosted Europa Cup ties against both Liverpool and Spurs. FWIW they lost a row of seating or two but no great hardship.

[Weststandwanab]

In fairness its not BJ or BDO who are saying that this is a done deal. Its others who seem to conveniently forget the shares are frozen and disregard the similarities with the Portsmouth situation because it suits then to do so.



They might add another please. That could clinch it. :greengrinThe Potsmouth shares are still in the freezer. A Newco was used.

[Leithenhibby]

The Potsmouth shares are still in the freezer. A Newco was used.


:agree: Well and truly.......

12040

[portycabbage]

See there are a lot of "guests" browsing .net. To some of them... Only 60 monthly payments to go and you might have control of your club. As you all used to say.... "BELIEVE". :thumbsup:

Oi! Some of us "guests" are just too lazy to log in (until 2 mins ago so I could reply to this!):greengrin
Ps just noticed you said "some", so I'm withdrawing my mock indignation!

[Dashing Bob S]

If Hearts end up liquidated and the PBS land is sold off separately, would Iceland be considered preferred bidders on account of the frozen shares?

[Jack Hackett]

The LT court has already set a precedent as far as frozen assets are concerned. I fail to see why they would do an about face for hertz when the circumstances are virtually identical to Portsmouth's.

Any yams looking in really need to consider this and start preparing for a massive let-down in 6-8 weeks....or whenever the timescale is extended to, as it inevitably will be.

[Jack Hackett]

If Hearts end up liquidated and the PBS land is sold off separately, would Iceland be considered preferred bidders on account of the frozen shares?

That so deserves a face palm smiley

[Dashing Bob S]

The LT court has already set a precedent as far as frozen assets are concerned. I fail to see why they would do an about face for hertz when the circumstances are virtually identical to Portsmouth's.

Any yams looking in really need to consider this and start preparing for a massive let-down in 6-8 weeks....or whenever the timescale is extended to, as it inevitably will be.

If the meeting to decide this is 'scheduled' for some time in March (though I've always thought that scheduling meant putting in a specific date, and they don't seem to have the courts agreeing to any meeting), it gives them a maximum of just under six weeks for this to take place.

I reckon there will be all sorts of panic and the sound of **** hitting fans as we get into the second week in March and there's still no date announced.

[SonOfTortolano]

Interesting report..."length is a problem"

LOL!

[hibbill2002]

If Hearts end up liquidated and the PBS land is sold off separately, would Iceland be considered preferred bidders on account of the frozen shares?

Tam might fancy a bid, Farmerfoods mibbes?

[Kaiser1962]

The Potsmouth shares are still in the freezer. A Newco was used.

And every night, just before drifting off to the land of nod, a little smile appears on my face reassured in the knowledge that this is so.

[Kaiser1962]

The LT court has already set a precedent as far as frozen assets are concerned. I fail to see why they would do an about face for hertz when the circumstances are virtually identical to Portsmouth's. .

That's how I see it. I cant see how they could reasonably justify unfreezing Hearts having already refused Portsmouth allowing them to be liquidated.

[RyeSloan]

It would be sold to the highest bidder, and UKIO (not UBIG) would get the first £6.8m after the liquidator's fees.

Thanks. Now you say it I actually knew that ;-)

Was just the Budge will pick it up on the cheap when the big L hits posts that got me confused.

I would suggest the big L would do the opposite...for anyone wanting to buy the PBS for footballing purposes would have to fight for it on the open market. Surely that would be far higher than the £2.5m suggested so far.

[greenginger]

It's fair to say that Chris Robinson overplayed his hand.

His document kicked off a long running debate about UEFA compliance for football pitches, yet in recent seasons Tynecastle has hosted Europa Cup ties against both Liverpool and Spurs. FWIW they lost a row of seating or two but no great hardship.

I think they had to get dispensation to play their Euro ties at the PBS. It was all right for the wee cup but when they are in the league sections and knock-out stages of the Champions League they will need a compliant ground. :greengrin

[greenginger]

The financial detectives are digging.


http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dukio%2Bbankas%2B15min%26client%3Dfire fox-a%26hs%3Dbt8%26rls%3Dorg.mozilla:en-US:official%26channel%3Dsb&rurl=translate.google.com&sl=lt&u=http://www.15min.lt/naujiena/aktualu/lietuva/zurnalistiniu-tyrimu-centro-vadovas-paulas-radu-lietuvoje-pinigus-pirmieji-plauti-pradejo-kgb-sulai-56-406311&usg=ALkJrhjo80oPy0esMP65D-A-9PdFCiolqw

For Economy Bank read UKIO.

" Currently all the bankrupt bank's economic data is in the hands of the State "