Share Transfers Agreed/Cooling off period

[Winston Ingram]

The FoH do stump up in advance to keep them a float it throws the whole purchase into doubt.

There is a business plan(:greengrin) and a very tight budget to take them forward. If the FoH have to donate money to keep the club a float it'll mean a lot less to take the club forward. The plan is already questionable to say the least and this would make it even weaker.

BDO as an administrator have a legal responsibility to ensure any post admin plan is viable. It's barely viable as it is.

[Deansy]

Basically, this is what Jackson/BDO have always maintained. The money they have will keep them going to the end of the season but a close-season in admin is not financially viable for the business. So they have 2-3 weeks left to get a completion date on the CVA before liquidation.

I believe that liquidation is probably the real viable route to fan ownership for Hearts. The FOH structure and finances are already in place, and the wage costs would be lower in the Lowland. They might lose the PBS in the liquidation sale but wouldn't be burdened with the running costs/maintenance of that slum with a smaller stadium (probably rented) until the club was able to grow through the divisions.

If they learned the 'Hun lesson' and cut their cloth accordingly instead of carrying big earners, they could simply poach the best players from the low league they were in and progress accordingly.

It'll mean several seasons as a very, very small Scottish club, but they would be genuinely fan owned, and I think the Newco journey would restore some humility and respect to a poisoned institution.

In other words - Losing a large % of the 'fans' attracted by Mercer's 'Finance Football' business-model - 'AKA - 'The Money Years' !!

[jacomo]

But who's got the money

Money is nothing without good taste - in that, he is clearly the winner.

[Mikey09]

Can't see that happening - no way will SPFL allow the Grunts a third home game against us.


Sorry Tynie.... With the SPFL anything is possible....

[Geo_1875]

Sorry Tynie.... With the SPFL anything is possible....

I'd go as far as to say probable.

[Dashing Bob S]

I'm hearing that it's going to be sorted out this week.


Probably.


Or next week.


Source: a Kickback jakey who is an FOH insider and has a surprisingly detailed knowledge of the Lithuanian legal system, company law and financial procedures.

[Waxy]

Well it looks like we'll sell out the up coming derby at swynie because it could be the last ever. If they chuck us another one at swynie after this it would be worth boycotting.

[HUTCHYHIBBY]

Seems like I was shouting Tick Tock in an empty room but more and more are coming round to my way of thinking.

All the signs are there in abundance, they are holed below the water line.

Judging by the origins of this thread naebody else saw it coming right enough.

[Dashing Bob S]

Judging by the origins of this thread naebody else saw it coming right enough.

That was a genuine tea-spitter :top marks

[Gus Fring]

Spoken to my source again

They are still in limbo. He says staff are frustrated as they would normally have started planning for next season but have been told not to do so until BIDCO take over. A lot of "Good Hearts People" are worried they won't be kept on after budge is in the door as the impression being given is that this will be a brand new regime with a top to bottom shake up.

Budge has paid attention to whats happening at Rangers and doesn't want a repeat. They will not be continuing to run Hearts as an SPL business. She's been seeking counsel from many people and wants to secure the long term viability of the club. She can't afford to run it long term and she needs to flip it to the FOH rather quickly. "Budgets will be tight and every penny will be managed" he said.

I asked him about running out of money and he said the last he heard there still wasn't enough to make it to the end of the season. They need the derby to sell out at both ends because if it doesn't that's another major source of revenue done. "Getting to the cup final could have removed any doubt"

Lastly he said the staff have been warned that Liquidation is still a very real possibility. Jackson (who is not my source, never has been) hasn't given them a timescale but that the staff feel like the off-season will be when it happens. Last year was manic during that period and they were selling Season Tickets. Costs have been reduced since then but after the last game of the season they have no money coming in.

Message to Kickback: If you could maybe link to this post instead of copying and pasting it, that would be swell. We'd rather have the hits over here allowing us to help the Hibs youth setup rather than you lot nicking the info and robbing the kids.
Just paste this instead of the post. I've done the hard work for you

http://www.hibs.net/showthread.php?158395-Financial-Meltdown-UBIG-s-shares-REMAIN-FROZEN-Still-waiting-for-that-UBIG-meeting&p=3927720&viewfull=1#post3927720

Cheers pals :aok:

[Weststandwanab]

The previous post is very pleasing.

[ehf]

Spoken to my source again

Budge has paid attention to whats happening at Rangers and doesn't want a repeat. They will not be continuing to run Hearts as an SPL business. She's been seeking counsel from many people and wants to secure the long term viability of the club. She can't afford to run it long term and she needs to flip it to the FOH rather quickly. "Budgets will be tight and every penny will be managed" he said.

She could afford it, she has over £40 million: just not prepare to sp_nk it all away on that lot.

[Lucius Apuleius]

The previous post is very pleasing.

The previous post is also very pleasing.

[Gus Fring]

She could afford it, she has over £40 million: just not prepare to sp_nk it all away on that lot.

She's allegedly worth £40m, whether she has £40m it is a different matter. I think the point he was trying to make is if they keep losing money the way they have been her fortune will be gone in less than a decade.

[Dashing Bob S]

Beautiful stuff. I'm thinking that a Budge-run, then FOH-bought Hearts in the championship would be a highly acceptable alternative to liquidation. Sadly, it isn't gonna happen.

[MrSmith]

Fixed it for you! :cb


Spoken to my source again

They are still in limbo. He says staff are frustrated as they would normally have started planning for next season but have been told not to do so until BIDCO take over. A lot of "Good Hearts People" are worried they won't be kept on after budge is in the door as the impression being given is that this will be a brand new regime with a top to bottom shake up.

Budge has paid attention to whats happening at Rangers and doesn't want a repeat. They will not be continuing to run Hearts as an SPL business. She's been seeking counsel from many people and wants to secure the long term viability of the club. She can't afford to run it long term and she needs to flip it to the FOH rather quickly. "Budgets will be tight and every penny will be managed" he said.

I asked him about running out of money and he said the last he heard there still wasn't enough to make it to the end of the season. They need the derby to sell out at both ends because if it doesn't that's another major source of revenue done. "Getting to the cup final could have removed any doubt"

Lastly he said the staff have been warned that Liquidation is still a very real possibility. Jackson (who is not my source, never has been) hasn't given them a timescale but that the staff feel like the off-season will be when it happens. Last year was manic during that period and they were selling Season Tickets. Costs have been reduced since then but after the last game of the season they have no money coming in.

Message to Kickback: If you could maybe link to this post instead of copying and pasting it, that would be swell. We'd rather have the hits over here allowing us to help the Hibs youth setup rather than you lot nicking the info and robbing the kids as well!.
Just paste this instead of the post. I've done the hard work for you

http://www.hibs.net/showthread.php?158395-Financial-Meltdown-UBIG-s-shares-REMAIN-FROZEN-Still-waiting-for-that-UBIG-meeting&p=3927720&viewfull=1#post3927720

Cheers pals :aok:

[Sergey]

She's allegedly worth £40m, whether she has £40m it is a different matter. I think the point he was trying to make is if they keep losing money the way they have been her fortune will be gone in less than a decade.

A test of her financial resolve could be if she's asked to stump-up some of her hard-earned without the security of the PBS to fall back on.

If the PBS does have to get auctioned off, will she be willing to pay market value?

[GreenLake]

Spoken to my source again

They are still in limbo. He says staff are frustrated as they would normally have started planning for next season but have been told not to do so until BIDCO take over. A lot of "Good Hearts People" are worried they won't be kept on after budge is in the door as the impression being given is that this will be a brand new regime with a top to bottom shake up.

Budge has paid attention to whats happening at Rangers and doesn't want a repeat. They will not be continuing to run Hearts as an SPL business. She's been seeking counsel from many people and wants to secure the long term viability of the club. She can't afford to run it long term and she needs to flip it to the FOH rather quickly. "Budgets will be tight and every penny will be managed" he said.

I asked him about running out of money and he said the last he heard there still wasn't enough to make it to the end of the season. They need the derby to sell out at both ends because if it doesn't that's another major source of revenue done. "Getting to the cup final could have removed any doubt"

Lastly he said the staff have been warned that Liquidation is still a very real possibility. Jackson (who is not my source, never has been) hasn't given them a timescale but that the staff feel like the off-season will be when it happens. Last year was manic during that period and they were selling Season Tickets. Costs have been reduced since then but after the last game of the season they have no money coming in.

Message to Kickback: If you could maybe link to this post instead of copying and pasting it, that would be swell. We'd rather have the hits over here allowing us to help the Hibs youth setup rather than you lot nicking the info and robbing the kids.
Just paste this instead of the post. I've done the hard work for you

http://www.hibs.net/showthread.php?158395-Financial-Meltdown-UBIG-s-shares-REMAIN-FROZEN-Still-waiting-for-that-UBIG-meeting&p=3927720&viewfull=1#post3927720

Cheers pals :aok:

I hope that includes her wardrobe as some of the outfits she wore in those recent media pictures are absolutely honking.

[Geo_1875]

She's allegedly worth £40m, whether she has £40m it is a different matter. I think the point he was trying to make is if they keep losing money the way they have been her fortune will be gone in less than a decade.

Her company was sold for £40m. She didn't own 100% of that company. If she is worth £40m now she made some sound investments while everybody else lost money.

[Waxy]

I hope that includes her wardrobe as some of the outfits she wore in those recent media pictures are absolutely honking.

Auld purple pants

[Gus Fring]

Her company was sold for £40m. She didn't own 100% of that company. If she is worth £40m now she made some sound investments while everybody else lost money.

This.

It's the papers that are saying she's worth £40m. The same papers who said Hearts were self sufficient.

[Ozyhibby]

I hope that includes her wardrobe as some of the outfits she wore in those recent media pictures are absolutely honking.

Hibs.net's first foray into the world of old ladies fashions?
Don't think I'll be able to contribute much on this issue.
:-)

[Jack]

Judging by the origins of this thread naebody else saw it coming right enough.

And remember this thread followed a myriad of similar threads that went before ... probably back to the day the Pee'r of the Relm, Lord Foulkes, begged the simpletons to sell out to the oligarch Vlad but having seen his track record we rubbed our collective Hibby chins and thought out loud "this is going to end in tears".

[Platinum Scotty]

This.

It's the papers that are saying she's worth £40m. The same papers who said Hearts were self sufficient.

http://www.scotsman.com/business/media-tech-leisure/newell-amp-budge-sold-to-sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

[GreenLake]

Hibs.net's first foray into the world of old ladies fashions?
Don't think I'll be able to contribute much on this issue.
:-)

There have been plenty of posts about Foulkes humid attire! :greengrin

[GreenLake]

http://www.scotsman.com/business/media-tech-leisure/newell-amp-budge-sold-to-sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

What is the capital gains tax rate in the UK these days?

[SurferRosa]

http://www.scotsman.com/business/media-tech-leisure/newell-amp-budge-sold-to-sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

Watch the amount she`s worth drop, as FoH and BDO realise it`s not in their best interests to let the Liths think she`s worth a fortune..

[WHUHibs]

http://www.scotsman.com/business/media-tech-leisure/newell-amp-budge-sold-to-sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

Maybe I'm missing something but would she not have paid tax on the 26 million at ... 40% plus!!so it maybe 15 million?? Minus what she has spent,,,unless of course she learned some nice avoidance tricks:greengrin

[Ozyhibby]

Maybe I'm missing something but would she not have paid tax on the 26 million at ... 40% plus!!so it maybe 15 million?? Minus what she has spent,,,unless of course she learned some nice avoidance tricks:greengrin

18% capital gains tax

[Winston Ingram]

She's allegedly worth £40m, whether she has £40m it is a different matter. I think the point he was trying to make is if they keep losing money the way they have been her fortune will be gone in less than a decade.

this:agree:

[greenpaper55]

Maybe I'm missing something but would she not have paid tax on the 26 million at ... 40% plus!!so it maybe 15 million?? Minus what she has spent,,,unless of course she learned some nice avoidance tricks:greengrin

Minus what she has spent ? well it wisnae on her clothes that's for sure, maybe she does the charity shops in stockbridge !.

[PatHead]

18% capital gains tax

28% for higher rate tax payer.

Though it depends on when she sold as the rate used to be 40% until 2010 though gains could be reduced due to timescales. Now it is a straight percentage of the gain at 18% or 28% depending on the persons tax rate after the annual allowance has been used up.

A good tax accountant would be able to reduce the tax significantly though their bills are usually very high. Aren't they CWG?

[GloryGlory]

http://www.scotsman.com/business/media-tech-leisure/newell-amp-budge-sold-to-sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!

And she's managed to avoid captal gains tax on her shares...
course, maybe she's rolled the gains over and the Yams are set to be a lossmaker to reduce her tax liability.

[Weststandwanab]

She could afford it, she has over £40 million: just not prepare to sp_nk it all away on that lot. She is not worth £40m.


She's allegedly worth £40m, whether she has £40m it is a different matter. I think the point he was trying to make is if they keep losing money the way they have been her fortune will be gone in less than a decade.Allegedly is the operative word.


Her company was sold for £40m. She didn't own 100% of that company. If she is worth £40m now she made some sound investments while everybody else lost money. She did not own all The Company, she borrowed funds from a bank to buy some of her shares which will have been repaid, Capital Gains Tax will have been paid on the gain which will have been most of the sale price, legal and professional fees will have been paid on the contract all this means she will have been worth nowhere near £40m


http://www.scotsman.com/business/media-tech-leisure/newell-amp-budge-sold-to-sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!! See my previous post.


What is the capital gains tax rate in the UK these days? It would depend on which fiscal year the Company was sold.


Maybe I'm missing something but would she not have paid tax on the 26 million at ... 40% plus!!so it maybe 15 million?? Minus what she has spent,,,unless of course she learned some nice avoidance tricks:greengrinNo she would not.


18% capital gains tax Not quite that simply but you are probably not far wrong.

[CropleyWasGod]

28% for higher rate tax payer.

Though it depends on when she sold as the rate used to be 40% until 2010 though gains could be reduced due to timescales. Now it is a straight percentage of the gain at 18% or 28% depending on the persons tax rate after the annual allowance has been used up.

A good tax accountant would be able to reduce the tax significantly though their bills are usually very high. Aren't they CWG?

Couldn't tell you about the good ones ;-)

[GreenLake]

28% for higher rate tax payer.

Though it depends on when she sold as the rate used to be 40% until 2010 though gains could be reduced due to timescales. Now it is a straight percentage of the gain at 18% or 28% depending on the persons tax rate after the annual allowance has been used up.

A good tax accountant would be able to reduce the tax significantly though their bills are usually very high. Aren't they CWG?


Worse here in California at 13.3% on top of 20% Federal comes to 33.3%.

[IWasThere2016]

Their biggest threat is time as they do have the funds (sadly) to see out the season.

It is never a good feeling trying to beat the clock .. especially when you have no idea how much time there is on the clock.

Tick Tock alright :thumbsup:

[hibees 7062]

This.

It's the papers that are saying she's worth £40m. The same papers who said Hearts were self sufficient.

Sure it's £25m she's worth

[Weststandwanab]

And she's managed to avoid captal gains tax on her shares...
course, maybe she's rolled the gains over and the Yams are set to be a lossmaker to reduce her tax liability.To rollover all of the gain the entire net proceed price of the shares would have to be reinvested in qualifying assets within three years of the effective date of sale of the assets looking to be rolled over. Roughly speaking.

[greenginger]

http://www.scotsman.com/business/media-tech-leisure/newell-amp-budge-sold-to-sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!


The house she bought last year would be £ 2.5 million minimum, also the Bentley and the Porche, and a large wedge into her pension fund.

She will still be well off, but nowhere near the level required to squander millions on a football club and not feel the pain.

[jacomo]

Spoken to my source again

They are still in limbo. He says staff are frustrated as they would normally have started planning for next season but have been told not to do so until BIDCO take over. A lot of "Good Hearts People" are worried they won't be kept on after budge is in the door as the impression being given is that this will be a brand new regime with a top to bottom shake up.

Budge has paid attention to whats happening at Rangers and doesn't want a repeat. They will not be continuing to run Hearts as an SPL business. She's been seeking counsel from many people and wants to secure the long term viability of the club. She can't afford to run it long term and she needs to flip it to the FOH rather quickly. "Budgets will be tight and every penny will be managed" he said.

I asked him about running out of money and he said the last he heard there still wasn't enough to make it to the end of the season. They need the derby to sell out at both ends because if it doesn't that's another major source of revenue done. "Getting to the cup final could have removed any doubt"

Lastly he said the staff have been warned that Liquidation is still a very real possibility. Jackson (who is not my source, never has been) hasn't given them a timescale but that the staff feel like the off-season will be when it happens. Last year was manic during that period and they were selling Season Tickets. Costs have been reduced since then but after the last game of the season they have no money coming in:

What with the TICK TOCK of the big clock and alarm bells ringing over the delay to season ticket sales, Tynecastle must be an insufferably noisy place to work right now. They are regulations about permitted noise levels at work - maybe BDO could appeal to the Lithuanian authorities for clemency on Health & Safety grounds? :wink:

[Onceinawhile]

To rollover all of the gain the entire net proceed price of the shares would have to be reinvested in qualifying assets within three years of the effective date of sale of the assets looking to be rolled over. Roughly speaking.

Rollover relief is only available to companies. So no chance that could have happened. She will have paid some of her cgt at 10 percent due to entrepreneur's relief. But the maximum for that is now 10 million having previously been one or teo million.

[jacomo]

http://www.scotsman.com/business/media-tech-leisure/newell-amp-budge-sold-to-sopra-1-717062

She got £26m seemingly......not a bad amount but not quite £40+m..........but all of a sudden the huge sum of cash is only 57% of the number quoted!

And thats if she hasnt spent anything in the last 9 years!!


Watch the amount she`s worth drop, as FoH and BDO realise it`s not in their best interests to let the Liths think she`s worth a fortune..

It's a well known fact that the wealthy have got a lot wealthier during the last five years. Quantitative easing has helped to create large asset price bubbles, and even conservative investment strategies have seen very good returns. As Budge was involved in the tech sector, it's possible she has backed some big winners amongst the new boom in online.

I reckon she's worth £100m minimum now, probably more. I imagine she spends her evenings counting her gold and pursuing redevelopment plans for Tynecastle, whilst cackling manically at persuading the Lithuanians to sell for such a low price. :wink:

[ehf]

28% for higher rate tax payer.

Though it depends on when she sold as the rate used to be 40% until 2010 though gains could be reduced due to timescales. Now it is a straight percentage of the gain at 18% or 28% depending on the persons tax rate after the annual allowance has been used up.

A good tax accountant would be able to reduce the tax significantly though their bills are usually very high. Aren't they CWG?

Shares in a private company are "business property" and attract a reduced rate of tax. Back in 2005, she would almost certainly have got "taper relief" and paid CGT at only 10%, making the net sum £23.4 million. Maybe £400K transaction costs at a generous estimate, which would leave £23 million. If she had invested that wisely, it should be worth well over £30 million by now. On the other hand she may have invested it in Collateralised Debt Obligations and rigged FOREX derivatives, in which case she'll have diddly squat.

[GreenLake]

Rollover relief is only available to companies. So no chance that could have happened. She will have paid some of her cgt at 10 percent due to entrepreneur's relief. But the maximum for that is now 10 million having previously been one or teo million.

She might be hiring a team of top international lawyers to propose a tax strategy for the millions she will rake in once Hearts return to the Champions League and hundreds of elite global travelers book up to stay in the Gorgie Four Seasons Main Stand Resort and Spa.

[Hibby70]

You're all bitter jealous hobos

[jacomo]

Message to Kickback: If you could maybe link to this post instead of copying and pasting it, that would be swell. We'd rather have the hits over here allowing us to help the Hibs youth setup rather than you lot nicking the info and robbing the kids.

Just paste this instead of the post. I've done the hard work for you

http://www.hibs.net/showthread.php?158395-Financial-Meltdown-UBIG-s-shares-REMAIN-FROZEN-Still-waiting-for-that-UBIG-meeting&p=3927720&viewfull=1#post3927720

Cheers pals :aok:

Heartily endorse this sentiment.

It also reduces the need for undercover agents to keep posting click bait over there, which is a proven tactic but can be time consuming.

[Kojock]

It might be me being stupid, but can anyone explain why Romanov didn't invest some of the £200 million that he was going to buy Liverpool for into Hearts?

The following quote is from the Scotsman on 13th April 2011.

"The Lithuanian says he was offered the opportunity to take control of the Anfield club - who had just become champions of Europe - for 200 million, but got cold feet in the wake of what he perceived to be hostile treatment in Scotland."

[Mikey]

Spoken to my source again

They are still in limbo. He says staff are frustrated as they would normally have started planning for next season but have been told not to do so until BIDCO take over. A lot of "Good Hearts People" are worried they won't be kept on after budge is in the door as the impression being given is that this will be a brand new regime with a top to bottom shake up.

Budge has paid attention to whats happening at Rangers and doesn't want a repeat. They will not be continuing to run Hearts as an SPL business. She's been seeking counsel from many people and wants to secure the long term viability of the club. She can't afford to run it long term and she needs to flip it to the FOH rather quickly. "Budgets will be tight and every penny will be managed" he said.

I asked him about running out of money and he said the last he heard there still wasn't enough to make it to the end of the season. They need the derby to sell out at both ends because if it doesn't that's another major source of revenue done. "Getting to the cup final could have removed any doubt"

Lastly he said the staff have been warned that Liquidation is still a very real possibility. Jackson (who is not my source, never has been) hasn't given them a timescale but that the staff feel like the off-season will be when it happens. Last year was manic during that period and they were selling Season Tickets. Costs have been reduced since then but after the last game of the season they have no money coming in.

Message to Kickback: If you could maybe link to this post instead of copying and pasting it, that would be swell. We'd rather have the hits over here allowing us to help the Hibs youth setup rather than you lot nicking the info and robbing the kids.
Just paste this instead of the post. I've done the hard work for you

http://www.hibs.net/showthread.php?158395-Financial-Meltdown-UBIG-s-shares-REMAIN-FROZEN-Still-waiting-for-that-UBIG-meeting&p=3927720&viewfull=1#post3927720

Cheers pals :aok:

Cheers for that :aok:

No big surprises but it underpins the fact that they're running out of time and can't do anything about it!

[greenginger]

Shares in a private company are "business property" and attract a reduced rate of tax. Back in 2005, she would almost certainly have got "taper relief" and paid CGT at only 10%, making the net sum £23.4 million. Maybe £400K transaction costs at a generous estimate, which would leave £30 million. If she had invested that wisely, it should be worth well over £30 million by now. On the other hand she may have invested it in Collateralised Debt Obligations and rigged FOREX derivatives, in which case she'll have diddly squat.

Budge set up a few new companies with her wealth.

Discovery Investment Fund in 2007

ABC Consultancy Services in 2009

Calnex Solutions in 2009,

And joined a LLP Partnership, Par Forrestery Partnership LLP which is a routine CGT avoidance measure.

[Weststandwanab]

Rollover relief is only available to companies. So no chance that could have happened. She will have paid some of her cgt at 10 percent due to entrepreneur's relief. But the maximum for that is now 10 million having previously been one or teo million.

I beg to differ having used it frequently over the last twenty eight years.

http://www.hmrc.gov.uk/cgt/businesses/reliefs.htm#2

She may have paid no C.G.T. at that point or paid it all or any where in between who knows.

[jacomo]

It might be me being stupid, but can anyone explain why Romanov didn't invest some of the £200 million that he was going to buy Liverpool for into Hearts?

The following quote is from the Scotsman on 13th April 2011.

"The Lithuanian says he was offered the opportunity to take control of the Anfield club - who had just become champions of Europe - for 200 million, but got cold feet in the wake of what he perceived to be hostile treatment in Scotland."

1. Romanov was lying about having £200m.
2. Romanov was lying about being offered Liverpool.
3. Liverpool are worth more than Hearts.
4. All three of the above.

[ehf]

4. All three of the above.

:agree: He was right about the hostile treatment in Scotland, though...

[Bostonhibby]

1. Romanov was lying about having £200m.
2. Romanov was lying about being offered Liverpool.
3. Liverpool are worth more than Hearts.
4. All three of the above.

Romanov was lying????

FFS what next? the BBC referring to Scotlands' newest team as the most successful in the history of the Scottish Cup?

It's all a conspiracy.

[Springbank]

Are Hibs putting the derby on in Behind the Goals?

Would rather give Hibs my money

[whiskyhibby]

Are Hibs putting the derby on in Behind the Goals?

Would rather give Hibs my money

Not a bad idea, but for me it could be the last ever derby and/or the last ever at the pink bus shelter, either way I would not miss being there in person

[Kojock]

1. Romanov was lying about having £200m.
2. Romanov was lying about being offered Liverpool.
3. Liverpool are worth more than Hearts.
4. All three of the above.

Romanov was lying???

Next thing you will be telling us is that Santa ain't real

[truehibernian]

When's Ann Budge appearing on The Real Housewives of Gorgie ?

Can't wait to see her mixing with Edinburgh West's glitterati in the Willie Bauld Suite, The Tynie Arms, Gala Bingo and Bainfield Bowling Club and seeing the tantrums and fall outs along the way.

[Ozyhibby]

When's Ann Budge appearing on The Real Housewives of Gorgie ?

Can't wait to see her mixing with Edinburgh West's glitterati in the Willie Bauld Suite, The Tynie Arms, Gala Bingo and Bainfield Bowling Club and seeing the tantrums and fall outs along the way.

You forgot the BMC?

[jakeshibs]

I have just been arguing with a yam at work, can anyone confirm, I was under the impression if they are still in Admin come next season, and are relegated they will still receive a -15 points for being in administration? he seems to be adamant that they will not receive any further penalties, unless they come out of admin and then go back in to admin (-25)

any experts got the answer please tell me I am right?

[Col2]

I have just been arguing with a yam at work, can anyone confirm, I was under the impression if they are still in Admin come next season, and are relegated they will still receive a -15 points for being in administration? he seems to be adamant that they will not receive any further penalties, unless they come out of admin and then go back in to admin (-25)

any experts got the answer please tell me I am right?

100% 15 point penalty IF still in admin by the date of the first game of next season.

[Gus Fring]

I have just been arguing with a yam at work, can anyone confirm, I was under the impression if they are still in Admin come next season, and are relegated they will still receive a -15 points for being in administration? he seems to be adamant that they will not receive any further penalties, unless they come out of admin and then go back in to admin (-25)

any experts got the answer please tell me I am right?

I think you're both right. It's -15 if you start a season in Administration and that increases to -25 if there is another insolvency event.

[Chibs]

I have just been arguing with a yam at work, can anyone confirm, I was under the impression if they are still in Admin come next season, and are relegated they will still receive a -15 points for being in administration? he seems to be adamant that they will not receive any further penalties, unless they come out of admin and then go back in to admin (-25)

any experts got the answer please tell me I am right?
Not an expert by any manner of means,but my gut instinct tells me they will not exist next season.

[greenginger]

Interesting case going through the Lithuanian Criminal Courts.


http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dukio%2Bbankas%2B15min%26client%3Dfire fox-a%26hs%3DIyS%26rls%3Dorg.mozilla:en-US:official%26channel%3Dsb&rurl=translate.google.com&sl=lt&u=http://www.15min.lt/naujiena/verslas/finansai/milijonines-paramos-pramusinejimo-schema-viska-lemia-telefoniniai-skambuciai-draugams-662-409019&usg=ALkJrhjEjqFoiZrCf17XSkwCumVfQRMuXw

Vlad is involved but does not seem to be the main player, just part of the support act.

What is interesting is that the Lith. FCIS. ( Financial Crimes Investigation Service ) were tapping Vlad's phone calls as far back as 2010.

I wonder if they hacked the Kaunus fax machine too ? :greengrin

[hibees 7062]

Romanov was lying???

Next thing you will becoming out with is Santa ain't real

Eh :xwave don't say that

[Dashing Bob S]

Not an expert by any manner of means,but my gut instinct tells me they will not exist next season.

The big problem that they are facing is the longer they hold off liquidation in order to wait for this completed CVA, the less time it gives them to form a Newco and gain entry to a league for season 2014-15.

I don't think they'll disappear forever, they have too big a fanbase and any club is really it's fans. But it's entirely possible that they might vanish for a year.

[Kaiser1962]

The big problem that they are facing is the longer they hold off liquidation in order to wait for this completed CVA, the less time it gives them to form a Newco and gain entry to a league for season 2014-15.

I don't think they'll disappear forever, they have too big a fanbase and any club is really it's fans. But it's entirely possible that they might vanish for a year.

Its what happens in that year though Bob. They would be replaced in the league structure by AN other who would be unlikey to give up that place when the Yams get their act together. I think if NewYam have to take a year out then they are gone from the league system for the forseeable future.

I agree that D Day is looming and will be on them sooner than they think.

[Dashing Bob S]

Its what happens in that year though Bob. They would be replaced in the league structure by AN other who would be unlikey to give up that place when the Yams get their act together. I think if NewYam have to take a year out then they are gone from the league system for the forseeable future.

I agree that D Day is looming and will be on them sooner than they think.

Very good point. They would then have to stick around till another club went bust, or try to buy and merge with an ailing club. Like Livy. Heart of the Lothians FC, based at Almondvale.

[truehibernian]

Very good point. They would then have to stick around till another club went bust, or try to buy and merge with an ailing club. Like Livy. Heart of the Lothians FC, based at Almondvale.

That'll be the Livi owned by a Hibs fan 😀

[greenlex]

I see Paulo Sergio was on the STV News at the Wongadome today. Are they trying to drum up some cash from the natives with a bit of Positive PR? He was saying he would like to cone back one day.

[Chibs]

That'll be the Livi owned by a Hibs fan 
Correct never going to happen.

[Billy Whizz]

Correct never going to happen.

Where else could they go, within reasonable travelling distance of Edinburgh

[Jack]

Are Hibs putting the derby on in Behind the Goals?

Would rather give Hibs my money

Probably not but it will be shown in the Hibs Club.


A wee comment on the Budgie money discussion. Accountants will infer their charges will be less than what you'd lose is taxes. Combine that with a decent investment strategy ... I doubt she'll be worth less than when she sold her business(es).

Of course NO investment manager, not even mine, unless they were joking, would suggest investing in a football club, never mind thaim, would be anything other than folly.

[Chibs]

Where else could they go, within reasonable travelling distance of Edinburgh
Leith links

[derek0762]

I see Paulo Sergio was on the STV News at the Wongadome today. Are they trying to drum up some cash from the natives with a bit of Positive PR? He was saying he would like to cone back one day.

Only when golden shower gets the Man United job but! haharts the club that's always giving lol

[#FromTheCapital]

Where else could they go, within reasonable travelling distance of Edinburgh

Hell

[EastCalderHibby]

Hell

think you could be right as thats were they are headed :greengrin:na na:

[Weststandwanab]

Not an expert by any manner of means,but my gut instinct tells me they will not exist next season. Some of us have been saying that since last June.


The big problem that they are facing is the longer they hold off liquidation in order to wait for this completed CVA, the less time it gives them to form a Newco and gain entry to a league for season 2014-15.

I don't think they'll disappear forever, they have too big a fanbase and any club is really it's fans. But it's entirely possible that they might vanish for a year. Correct but NewYamco will not be fast tacked like Sevco Scotland.


I see Paulo Sergio was on the STV News at the Wongadome today. Are they trying to drum up some cash from the natives with a bit of Positive PR? He was saying he would like to cone back one day. Cone back, baby cone back


Where else could they go, within reasonable travelling distance of Edinburgh Easter Road for a large rental.

[Kato]

Interesting case going through the Lithuanian Criminal Courts.


http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dukio%2Bbankas%2B15min%26client%3Dfire fox-a%26hs%3DIyS%26rls%3Dorg.mozilla:en-US:official%26channel%3Dsb&rurl=translate.google.com&sl=lt&u=http://www.15min.lt/naujiena/verslas/finansai/milijonines-paramos-pramusinejimo-schema-viska-lemia-telefoniniai-skambuciai-draugams-662-409019&usg=ALkJrhjEjqFoiZrCf17XSkwCumVfQRMuXw

Vlad is involved but does not seem to be the main player, just part of the support act.

What is interesting is that the Lith. FCIS. ( Financial Crimes Investigation Service ) were tapping Vlad's phone calls as far back as 2010.

I wonder if they hacked the Kaunus fax machine too ? :greengrin

Dunno what anyone else made of that translation. Is it saying that VR was asked to help defraud the EU of funds?

[Waxy]

Hell
Dont think there's space in wester hailes for a football park.

[Dashing Bob S]

I'm fed up with living a lie.

There are no shares frozen, just the complex matter of getting all parties who are in agreement in principle, round the table to rubber stamp the deal. Hearts will be fine, the CVA will be completed by the end of the season, and Anne Budge will take over, putting a fair bit of money into the club, which will instantly promoted to the Premiership. After about three years, FOH will take over a well-run, debt free club and embark of a revolutionary, fan-owned success.

I suppose I just let hurt of 1-5 blind me to the reality of the situation.

I feel loads and loads better and more unburdened now that I've finally faced up to the truth.






:faf::faf::faf::faf::faf::faf::faf::faf::faf:

[GreenLake]

Interesting case going through the Lithuanian Criminal Courts.


http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dukio%2Bbankas%2B15min%26client%3Dfire fox-a%26hs%3DIyS%26rls%3Dorg.mozilla:en-US:official%26channel%3Dsb&rurl=translate.google.com&sl=lt&u=http://www.15min.lt/naujiena/verslas/finansai/milijonines-paramos-pramusinejimo-schema-viska-lemia-telefoniniai-skambuciai-draugams-662-409019&usg=ALkJrhjEjqFoiZrCf17XSkwCumVfQRMuXw

Vlad is involved but does not seem to be the main player, just part of the support act.

What is interesting is that the Lith. FCIS. ( Financial Crimes Investigation Service ) were tapping Vlad's phone calls as far back as 2010.

I wonder if they hacked the Kaunus fax machine too ? :greengrin

I hope they will pass on evidence of any local criminal activities by other Hearts employees to Scotland Yard.

It also looks like Bayern Munich and Barcelona thought that they can cheat on taxes following the example of fellow European giants Heart of Midlothian.

http://www.bbc.com/news/world-europe-26512965

http://www.bbc.com/sport/0/football/26520978

[Bishop Hibee]

Leith links

:grr: Although I would be able to say I didn't open my curtains to watch them play :greengrin

[Dashing Bob S]

I hope they will pass on evidence of any local criminal activities by other Hearts employees to Scotland Yard.

It also looks like Bayern Munich and Barcelona thought that they can cheat on taxes following the example of fellow European giants Heart of Midlothian.

http://www.bbc.com/news/world-europe-26512965

http://www.bbc.com/sport/0/football/26520978

Those European giants and their sense of entitlement.

[jakeshibs]

100% 15 point penalty IF still in admin by the date of the first game of next season.

many thanks and cheered me right up, as I thought that was the case deluded think there is no penalty as already in admin....

[GreenLake]

Those European giants and their sense of entitlement.

Bayern admitted it and Barcelona were embarrassed whereas the Edinburgh big team just keeps gushing with pride.

[ScottB]

Bayern admitted it and Barcelona were embarrassed whereas the Edinburgh big team just keeps gushing with pride.

Isn't it Bayern's boss, rather than the club itself?

[Ronniekirk]

I'm fed up with living a lie.

There are no shares frozen, just the complex matter of getting all parties who are in agreement in principle, round the table to rubber stamp the deal. Hearts will be fine, the CVA will be completed by the end of the season, and Anne Budge will take over, putting a fair bit of money into the club, which will instantly promoted to the Premiership. After about three years, FOH will take over a well-run, debt free club and embark of a revolutionary, fan-owned success.

I suppose I just let hurt of 1-5 blind me to the reality of the situation.

I feel loads and loads better and more unburdened now that I've finally faced up to the truth.






:faf::faf::faf::faf::faf::faf::faf::faf::faf:
What took you so long ?Its been obvious from the start that we could not see this bigger picture as we were obsessed with blindly following the lead of Sergey and baj ,who have been deceiving us all along.How could we have all been so Stupid .:wink:

[Winston Ingram]

JKB Meltdown ‏@JKBmeltdown 1m
if the Share transfer from Ubig doesn't happen we have had it.If it drags on for another 6-9 months then FOH/Budge have a tough call to make

6-9 months:confused: :faf:

6 weeks more like

[dangermouse]

Its what happens in that year though Bob. They would be replaced in the league structure by AN other who would be unlikey to give up that place when the Yams get their act together. I think if NewYam have to take a year out then they are gone from the league system for the forseeable future.

I agree that D Day is looming and will be on them sooner than they think.

With the Lowland league due to expand from 12 to 16 teams next season they may still have a chance to compete in that league provided they already have a plan B in place should the big L come about. At least that would give them a chance to get back up the pyramid.

[Leithenhibby]

With the Lowland league due to expand from 12 to 16 teams next season they may still have a chance to compete in that league provided they already have a plan B in place should the big L come about. At least that would give them a chance to get back up the pyramid.

But, But, Does the rules not state that they must have 3 years accounts?

[Waxy]

But, But, Does the rules not state that they must have 3 years accounts?
Think Sevco set a precedent with that one.

[Baker9]

Easter Road for a large rental.[/QUOTE]

Paid in advance:wink:

[Alex Trager]

So am I right in thinking the big L could be announced right in time for us visiting?

[Craig_in_Prague]

So am I right in thinking the big L could be announced right in time for us visiting?

I more think around 19th May.
a horrid date, that killed both Edinburgh clubs.

[Sergey]

So am I right in thinking the big L could be announced right in time for us visiting?
They should be able to stagger along until the end of the season - I'm pretty sure the authorities will advance them cash as they did Gretna.

The Big L will only happen if one of the following scenarios occurs:

i) BDO finally admit that there's little prospect of the shares being unfrozen in the foreseeable
ii) The Ukio creditors reject the conditions of the CVA
iii) Money does run dry and BDO declare insolvency

In true Cheltenham terms, perm any one from three and you'll be backing a winner.

[Alex Trager]

I thought I read a few pages back that they will be up the creek at the point of no return in the jaws of the saltwater crocodile cut into pieces tingling his taste buds at the end of march?

[EdinMike]

I thought I read a few pages back that they will be up the creek at the point of no return in the jaws of the saltwater crocodile cut into pieces tingling his taste buds at the end of march?

I heard that back in November, yet they still exist..

[Just Alf]

I thought I read a few pages back that they will be up the creek at the point of no return in the jaws of the saltwater crocodile cut into pieces tingling his taste buds at the end of march?

You did... It was a quote from BDO, looks like they've managed to eek out their finances a wee bit longer.

Mind you, you know what BDO are like with dates, the coming out of admin date has been pushed back countless times! :D

[CropleyWasGod]

I heard that back in November, yet they still exist..

No-one with any credence said that they would be dead in November.

[Alex Trager]

You did... It was a quote from BDO, looks like they've managed to eek out their finances a wee bit longer.

Mind you, you know what BDO are like with dates, the coming out of admin date has been pushed back countless times! :D

So it's been moved back?

[CropleyWasGod]

You did... It was a quote from BDO, looks like they've managed to eek out their finances a wee bit longer.

Mind you, you know what BDO are like with dates, the coming out of admin date has been pushed back countless times! :D

BDO are accountants, and they are always going to be conservative.

I have little doubt that they will see out the season, even if that means getting an advance from the SPFL.

[CropleyWasGod]

So it's been moved back?

Don't think BDO have ever actually given an exact date for coming out of admin.

[TrinityHibs]

Did BDO not say they were going to run out of money before the end of the season when they were encouraging the windae lickers to add dozens to the attendances at home games?

[CropleyWasGod]

Did BDO not say they were going to run out of money before the end of the season when they were encouraging the windae lickers to add dozens to the attendances at home games?

They did, but that encouraged the windae lickers......

[Gus Fring]

Had a look on Kickback to see if they've quoted my post. They haven't, which is good. They are still arguing about whether BDO can and will sell Season Tickets though. Their so called saviour has confirmed it won't happen but they still don't want to believe it, probably because it's been stated as a fact on here.

[Glesgahibby]

I think its a good time to remember the following,
1)UBIG creditors meeting(still no announcement)30days notice required.
2)Court hearing(if and when creditors meeting agrees shares sale)to attempt to unfreeze shares.
3)28 days cooling off period(if 1 and 2 go in there favour)for any legal appeal.
So 58 days + court procedures = 58 days + a long time :wink:
Its also worth remembering that no 2 is the most important part of this equation(the elephant in the room,the media taboo and the hurdle that budgie refers to)
Time is running out,the spin machine is grinding to a halt and the clock is tick tocking away:greengrin

[Juice-Terry]

I think its a good time to remember the following,
1)UBIG creditors meeting(still no announcement)30days notice required.
2)Court hearing(if and when creditors meeting agrees shares sale)to attempt to unfreeze shares.
3)28 days cooling off period(if 1 and 2 go in there favour)for any legal appeal.
So 58 days + court procedures = 58 days + a long time :wink:
Its also worth remembering that no 2 is the most important part of this equation(the elephant in the room,the media taboo and the hurdle that budgie refers to)
Time is running out,the spin machine is grinding to a halt and the clock is tick tocking away:greengrin

This really has had NO impact on the general Gorgie consciousness, has it? Staggering.

[Dashing Bob S]

You did... It was a quote from BDO, looks like they've managed to eek out their finances a wee bit longer.

Mind you, you know what BDO are like with dates, the coming out of admin date has been pushed back countless times! :D

Ignore the bitter rantings of BDO. The 5-1 hurt is strong within them.

[Waxy]

So if the season starts in early August and they need 58 days after the meeting to come out admin. Then the meeting must be by/before early June or they start with a 15 point deduction again.

[Dashing Bob S]

Had a look on Kickback to see if they've quoted my post. They haven't, which is good. They are still arguing about whether BDO can and will sell Season Tickets though. Their so called saviour has confirmed it won't happen but they still don't want to believe it, probably because it's been stated as a fact on here.

Although Budge has said it won't happen, it seems more important for them to prove that they 'could if they wanted to' rather than address the fact that their club is slipping into oblivion.

It's an astonishing and quite scary case study of groupthink and the human propensity towards denial.

[HUTCHYHIBBY]

I think its a good time to remember the following,
1)UBIG creditors meeting(still no announcement)30days notice required.
2)Court hearing(if and when creditors meeting agrees shares sale)to attempt to unfreeze shares.
3)28 days cooling off period(if 1 and 2 go in there favour)for any legal appeal.
So 58 days + court procedures = 58 days + a long time :wink:
Its also worth remembering that no 2 is the most important part of this equation(the elephant in the room,the media taboo and the hurdle that budgie refers to)
Time is running out,the spin machine is grinding to a halt and the clock is tick tocking away:greengrin

Since Cheltenham starts today its got to be said "I think even Istabraq would struggle to clear these hurdles!"

[greenginger]

I think its a good time to remember the following,
1)UBIG creditors meeting(still no announcement)30days notice required.
2)Court hearing(if and when creditors meeting agrees shares sale)to attempt to unfreeze shares.
3)28 days cooling off period(if 1 and 2 go in there favour)for any legal appeal.
So 58 days + court procedures = 58 days + a long time :wink:
Its also worth remembering that no 2 is the most important part of this equation(the elephant in the room,the media taboo and the hurdle that budgie refers to)
Time is running out,the spin machine is grinding to a halt and the clock is tick tocking away:greengrin


Next Tuesday's first meeting of the UKIO Bankas creditors will be interesting.

If there are no major disagreements and a committee is elected , when do they intend to actually start the work of considering various options and approving/rejecting things such as the Yam CVA.

If they agree to get together again some time in May/June then its goodbye Jambos. :greengrin

[Glesgahibby]

This really has had NO impact on the general Gorgie consciousness, has it? Staggering.
Years and years of delusion have led to denial and ignorance.
It really is "staggering"especially on nowayback that the vast majority use 5-1 as some sort magic wand to sooth there fears.
They can deny all they like but they must(to a man/lady)
BE *****T!N IT !! BIG TIME !!!

[Glesgahibby]

Next Tuesday's first meeting of the UKIO Bankas creditors will be interesting.

If there are no major disagreements and a committee is elected , when do they intend to actually start the work of considering various options and approving/rejecting things such as the Yam CVA.

If they agree to get together again some time in May/June then its goodbye Jambos. :greengrin
Forgot all about that:greengrin

[Glesgahibby]

Since Cheltenham starts today its got to be said "I think even Istabraq would struggle to clear these hurdles!"
I had a fiver each way on Portsmouth :rolleyes:

[Gus Fring]

Another head in the sander from Kickback (I simply cannot resist)


This is a Hobo lie regarding not being able to sell tickets.

Just a reminder of where the info actually comes from.



Graham Duncan ‏@RemvoxScotland (https://twitter.com/RemvoxScotland)Feb 21 (https://twitter.com/RemvoxScotland/status/436854917886935040)
@The_FOH (https://twitter.com/The_FOH) #askian (https://twitter.com/search?q=%23askian&src=hash) When are season tickets likely to go on sale?

Foundation of Hearts ‏@The_FOH (https://twitter.com/The_FOH)Feb 21 (https://twitter.com/The_FOH/status/436856990456115200)
Ian: Nothing can happen till club out of admin, and we know what division we are in. Club currently working on.

Foundation of Hearts ‏@The_FOH (https://twitter.com/The_FOH)Feb 21 (https://twitter.com/The_FOH/status/436863062810054656)
Ian: As stated earlier, STs only on sale post-admin, and once we know what division. Club / BIDCO working on plan.






All Hobo lies. Does this mean that Ian Murray is actually a Hibs fan? That would certainly explain the fact his office is painted green :cb

[Kato]

Another head in the sander from Kickback (I simply cannot resist)



Just a reminder of where the info actually comes from.




All Hobo lies. Does this mean that Ian Murray is actually a Hibs fan? That would certainly explain the fact his office is painted green :cb

They're a bunch of weirdos, if it were posted on this thread that the earth is round I've no doubt the Flat Earth Society would find some monthly direct debits coming their way.

[HUTCHYHIBBY]

Does this mean that Ian Murray is actually a Hibs fan? That would certainly explain the fact his office is painted green :cb

I effin hope not! :-)

[Sergey]

Another head in the sander from Kickback (I simply cannot resist)



Just a reminder of where the info actually comes from.




All Hobo lies. Does this mean that Ian Murray is actually a Hibs fan? That would certainly explain the fact his office is painted green :cb

That's pretty much game, set and match as far as that argument goes :aok:

Simply because of their sheer ignorance, the welts deserve everything that's coming to them.

[GreenLake]

Isn't it Bayern's boss, rather than the club itself?

Yes

[Moulin Yarns]

No-one with any credence said that they would be dead in November.

So it must have been Danny Alexander then. :wink:

[CropleyWasGod]

So it must have been Danny Alexander then. :wink:

Ohhh.... thread hijack..... clawing fingers back from keyboard before we veer off into another topic entirely.....

:agree:

[JeMeSouviens]

Just a reminder of where the info actually comes from.
All Hobo lies. Does this mean that Ian Murray is actually a Hibs fan? That would certainly explain the fact his office is painted green :cb

There's no legal reason for them not to sell STs in admin though, is there? It's purely a tactical choice by Budgie, BDO & The Muppets, isn't it?

Personally, I think they'll be forced down that route in a few weeks time. They'll surely only push the Big 'L' button if they get unequivocal news of a continuing ice age.

[Weststandwanab]

So it must have been Danny Alexander then. :wink: Was it not Douglas Alexander ?

[Gus Fring]

There's no legal reason for them not to sell STs in admin though, is there? It's purely a tactical choice by Budgie, BDO & The Muppets, isn't it?

Personally, I think they'll be forced down that route in a few weeks time. They'll surely only push the Big 'L' button if they get unequivocal news of a continuing ice age.

A little from column A, a little from column B

My understanding is they can't sell them and use the money without knowing they will 100% be able to honour the commitment. If they do sell them then the money should be ring fenced (as happened at Dunfermline) so that in the event they don't make the start of the season that, let's be generous and say 10,000 Hearts fans, don't get stiffed out of circa £250 each.

I believe that legally you can't create new creditors whilst in admin (I might log in as my other name, CropleyWasGod in a minute and confirm) and that's exactly what selling season tickets would create. They definitely can't offer a payment plan.

It's also tactical. The FOH business plan need that money more than anything else to work. Without it, the whole plan is doomed from the start. They can't keep spending next seasons money before the current one is over otherwise they'll never recover.

[Moulin Yarns]

Was it not Douglas Alexander ?

http://t2.gstatic.com/images?q=tbn:ANd9GcQw0bfoRnyCB1MDIrRCMMXcQgZbniFKm hkL-ddNP_X_PnuJR4cVr5D6YVc:img.thesun.co.uk/aidemitlum/archive/01175/SNA0246BEAK1-682_1175658a.jpg (http://www.hibs.net/url?q=http://www.thesun.co.uk/sol/homepage/news/scottishnews/3255947/I-might-look-like-Beaker-but-Im-not-a-Muppet.html&sa=U&ei=mBEfU-2SEOyV7AaWnIDwCg&ved=0CD4Q9QEwCA&usg=AFQjCNE_Qbx_zTgBQLTNQ6areKuiC1ABQw)

[bingo70]

A little from column A, a little from column B

My understanding is they can't sell them and use the money without knowing they will 100% be able to honour the commitment. If they do sell them then the money should be ring fenced (as happened at Dunfermline) so that in the event they don't make the start of the season that, let's be generous and say 10,000 Hearts fans, don't get stiffed out of circa £250 each.

I believe that legally you can't create new creditors whilst in admin (I might log in as my other name, CropleyWasGod in a minute and confirm) and that's exactly what selling season tickets would create. They definitely can't offer a payment plan.

It's also tactical. The FOH business plan need that money more than anything else to work. Without it, the whole plan is doomed from the start. They can't keep spending next seasons money before the current one is over otherwise they'll never recover.

Could it not just be added to the pot for the money they owe budge?

[Gus Fring]

Could it not just be added to the pot for the money they owe budge?

I don't think so. What happens if she never takes over?

[Gus Fring]

Heres the disclaimer BDO used when Dunfermline tickets were put on sale in May last year


IMPORTANT INFORMATION FROM BDO LLP
For the protection of all supporters, all revenue generated from the sale of Season Tickets for season 2013/14, will be ring fenced and held separately by BDO LLP. In the event of DAFC Limited being liquidated all monies will be returned to supporters by BDO LLP. In the event of DAFC Limited exiting administration through a Creditors Voluntary Arrangement, then all monies will be released to the new owners of DAFC Limited as working capital.

[Weststandwanab]

Could it not just be added to the pot for the money they owe budge? They being who ? Owe = debt = not legal.


Heres the disclaimer BDO used when Dunfermline tickets were put on sale in May last year Good shout.

[lord bunberry]

They being who ? Owe = debt = not legal.

Good shout.

I thought bdo sold season tickets at the start of this season and half season tickets in December, why was it legal to do that but illegal to sell them for next season?

[jacomo]

Heres the disclaimer BDO used when Dunfermline tickets were put on sale in May last year

Did they forget to mention the deduction of a "very small" admin charge?

[Waxy]

Can they sell STs without knowing for certain(even though we know) which division they'll be in?
Perhaps now it'd suit them to get relegated asap.

[Onion]

Heres the disclaimer BDO used when Dunfermline tickets were put on sale in May last year

Makes sense. So the only thing really stopping the Yams is knowing what league they will be in next season. It cannot be exiting Admin as this is 100% guaranteed and anyone who says otherwise is a Hobo-loving liar. Budge is due to take over next month, no question about it. Nothing is going to get in the way of this all happening.

So when we pump them 4-0 at the PBS to send them down to the lower leagues, thats the signal to start their ST campaign :)

[Gus Fring]

I thought bdo sold season tickets at the start of this season and half season tickets in December, why was it legal to do that but illegal to sell them for next season?

Season tickets were on sale before they went in to Admin last year. Half season tickets were usable almost immediately. If Season Tickets for next season went on sale this week for example, there's still 4 months between when the yams fork over the cash and they start to see a return for that money.

[lord bunberry]

Season tickets were on sale before they went in to Admin last year. Half season tickets were usable almost immediately. If Season Tickets for next season went on sale this week for example, there's still 4 months between when the yams fork over the cash and they start to see a return for that money.

So there's no benefit to putting season tickets on sale now as they couldn't use the money until they exit administration.

[Dashing Bob S]

On Kickback they are now taking the first tentative steps to seriously discussing the future of their club, and on a thread set up to ridicule Hibs.net.

Looks like our work is done!

[GreenLake]

On Kickback they are now taking the first tentative steps to seriously discussing the future of their club, and on a thread set up to ridicule Hibs.net.

Looks like our work is done!

I saw this wee brainstorming gem from sicksack:

Posted Yesterday, 19:24
We have approx 17000 seats, set prices so that these seats are filled.




The prices would range from £28 for the 7000 twirlers to -£20 for bucket raking Gorgie locals who would go for the price of a good feed.

[Gus Fring]

So there's no benefit to putting season tickets on sale now as they couldn't use the money until they exit administration.

:agree:

[Weststandwanab]

I thought bdo sold season tickets at the start of this season and half season tickets in December, why was it legal to do that but illegal to sell them for next season? See Bajillions post number 40386


Can they sell STs without knowing for certain(even though we know) which division they'll be in?
Perhaps now it'd suit them to get relegated asap. They cannot realistically and yes it would suit BDO.

[Geo_1875]

Season tickets were on sale before they went in to Admin last year. Half season tickets were usable almost immediately. If Season Tickets for next season went on sale this week for example, there's still 4 months between when the yams fork over the cash and they start to see a return for that money.

The thing with half season tickets is they are valid for home league games from purchase until the end of the season.

If the Yams went bust on Boxing Day that would have been the official end of their season and punters would have had no legal comeback.

[Mikey]

Another head in the sander from Kickback (I simply cannot resist)



Just a reminder of where the info actually comes from.




All Hobo lies. Does this mean that Ian Murray is actually a Hibs fan? That would certainly explain the fact his office is painted green :cb

Putting them straight is no bad thing. I'm sure plenty of them genuinely do think that we've been making it up as we go along but the facts show that simply isn't the case.

If they have the balls they would set up a Q&A with FOH or BDO to see exactly where they are but I suspect they're too scared of the answers!

[JeMeSouviens]

A little from column A, a little from column B

My understanding is they can't sell them and use the money without knowing they will 100% be able to honour the commitment. If they do sell them then the money should be ring fenced (as happened at Dunfermline) so that in the event they don't make the start of the season that, let's be generous and say 10,000 Hearts fans, don't get stiffed out of circa £250 each.

I believe that legally you can't create new creditors whilst in admin (I might log in as my other name, CropleyWasGod in a minute and confirm) and that's exactly what selling season tickets would create. They definitely can't offer a payment plan.

It's also tactical. The FOH business plan need that money more than anything else to work. Without it, the whole plan is doomed from the start. They can't keep spending next seasons money before the current one is over otherwise they'll never recover.

Ah, well, it'll all be hypothetical when the trifling formalities of the stampage are concluded. :wink:

[Gus Fring]

The thing with half season tickets is they are valid for home league games from purchase until the end of the season.

If the Yams went bust on Boxing Day that would have been the official end of their season and punters would have had no legal comeback.

Yes but BDO will have some idea of whether or not they are likely to go bust and knew they weren't back then so fans would get at least some return for their outlay. Now though, it's not their money to spend and they'd be taking payment several months in advance.

[Dashing Bob S]

Putting them straight is no bad thing. I'm sure plenty of them genuinely do think that we've been making it up as we go along but the facts show that simply isn't the case.

If they have the balls they would set up a Q&A with FOH or BDO to see exactly where they are but I suspect they're too scared of the answers!

The fear of the answers is a very big issue, which is why most Yams in the know choose to stay out of the debate.

The Yam equivalents of Sergey/Bajillions/CWG/etc who have financial/legal expertise and or inside contacts, actually do exist, but are keeping away from Kickback. I've a friend who has close ties with the club and who is an expert on EC international law. When I told him about the Sergey/Bajillions posts on here he said something along the lines of: "I'm finding the whole thing too depressing to look at, and to be honest, I'm basically just ignoring it till we have either the CVA in place or move towards liquidation. But the scenario you've outlined (frozen shares, court inaction, running out of cash) is the by far the most likely. The barriers to the CVA are likely to be huge legal ones and not minor procedural ones, given that the shares form part of the asset base being held as part of a criminal investigation."

It's pretty strange on there now as most have opted to talk about everything other than their club's future, bar the dwindling band of the usual trumpets taking utter nonsense.

[Mikey09]

The fear of the answers is a very big issue, which is why most Yams in the know choose to stay out of the debate.

The Yam equivalents of Sergey/Bajillions/CWG/etc who have financial/legal expertise and or inside contacts, actually do exist, but are keeping away from Kickback. I've a friend who has close ties with the club and who is an expert on EC international law. When I told him about the Sergey/Bajillions posts on here he said something along the lines of: "I'm finding the whole thing too depressing to look at, and to be honest, I'm basically just ignoring it till we have either the CVA in place or move towards liquidation. But the scenario you've outlined (frozen shares, court inaction, running out of cash) is the by far the most likely. The barriers to the CVA are likely to be huge legal ones and not minor procedural ones, given that the shares form part of the asset base being held as part of a criminal investigation."

It's pretty strange on there now as most have opted to talk about everything other than their club's future, bar the dwindling band of the usual trumpets taking utter nonsense.


Aye Bob.... There is a simple answer to all that for a yam.... 5-1.... Keep up pal :wink:

[JeMeSouviens]

It's pretty strange on there now as most have opted to talk about everything other than their club's future, bar the dwindling band of the usual trumpets taking utter nonsense.

The Kickback Black Knights: "'tis but a scratch". :rolleyes:

[Craig_in_Prague]

Aye Bob.... There is a simple answer to all that for a yam.... 5-1.... Keep up pal :wink:

oh yeah, the wee comfort blanket............


12167

[Weststandwanab]

The fear of the answers is a very big issue, which is why most Yams in the know choose to stay out of the debate.

The Yam equivalents of Sergey/Bajillions/CWG/etc who have financial/legal expertise and or inside contacts, actually do exist, but are keeping away from Kickback. I've a friend who has close ties with the club and who is an expert on EC international law. When I told him about the Sergey/Bajillions posts on here he said something along the lines of: "I'm finding the whole thing too depressing to look at, and to be honest, I'm basically just ignoring it till we have either the CVA in place or move towards liquidation. But the scenario you've outlined (frozen shares, court inaction, running out of cash) is the by far the most likely. The barriers to the CVA are likely to be huge legal ones and not minor procedural ones, given that the shares form part of the asset base being held as part of a criminal investigation."

It's pretty strange on there now as most have opted to talk about everything other than their club's future, bar the dwindling band of the usual trumpets taking utter nonsense.

And here it starts.

http://www.ub.lt/en/to-creditors/news/73-notification-of-uab-valnetas-the-bankruptcy-administrator-of-bab-ukio-bankas-on-convening-the-first-meeting-of-creditors-of-bab-ukio-bankas (http://www.ub.lt/en/to-creditors/news/73-notification-of-uab-valnetas-the-bankruptcy-administrator-of-bab-ukio-bankas-on-convening-the-first-meeting-of-creditors-of-bab-ukio-bankas)

Hope the link works.

To Yams reading be afraid very afraid.

[Hermit Crab]

And here it starts.

http://www.ub.lt/en/to-creditors/news/73-notification-of-uab-valnetas-the-bankruptcy-administrator-of-bab-ukio-bankas-on-convening-the-first-meeting-of-creditors-of-bab-ukio-bankas (http://www.ub.lt/en/to-creditors/news/73-notification-of-uab-valnetas-the-bankruptcy-administrator-of-bab-ukio-bankas-on-convening-the-first-meeting-of-creditors-of-bab-ukio-bankas)

Hope the link works.

To Yams reading be afraid very afraid.

Link doesn't work :(

[Ozyhibby]

So there's no benefit to putting season tickets on sale now as they couldn't use the money until they exit administration.

While they can't use the money now, the earlier they are on sale, the more they will sell.
Assume they get their CVA and eventually come out of admin a week before the season starts. The chances of them selling 8000 season tickets in a week to people with cash up front is very slim.
The sooner they are on sale the better for them.

[Craig_in_Prague]

Link doesn't work :(

Notification of UAB Valnetas, the Bankruptcy administrator of BAB Ūkio bankas, on convening the first meeting of creditors of BAB Ūkio bankas
2014-02-28

Dear creditor,

The bankruptcy administrator of the failing AB Ūkio Bankas, legal entity code 112020136 (hereinafter, BAB Ūkio Bankas) hereby notifies you of the convocation of the first meeting of creditors of BAB Ūkio Bankas. The receipt of this letter confirms that your financial claim against BAB Ūkio Bankas has been approved by the final judgement of the Kaunas Regional Court and you are entitled to take part in the meeting of creditors of BAB Ūkio Bankas and express your will by voting on the matters included on the agenda of the meeting in accordance with the procedure prescribed herein and in the ballot paper.

Basic information about the ground for convening the meeting of creditors of BAB Ūkio Bankas, the place and time of the meeting

By the judgement of 2 May 2013, the Kaunas Regional Court initiated bankruptcy proceedings against AB Ūkio Bankas, appointed UAB Valnetas (legal entity code 135778275, authorisation for provision of bankruptcy administration services No. 69) to be the bankruptcy administrator ofBAB Ūkio Bankas, with Gintaras Adomonis (bankruptcy administrator qualification certificate No. 427c) as an authorised person, tel.: (8 37) 20 27 22, fax.: (8 37) 20 27 40, e-mail: [email protected] email address is being protected from spambots. You need JavaScript enabled to view it. . The Kaunas Regional Court’s judgement initiating bankruptcy proceedings came into effect on 7 June 2013.

By the judgement of 17 October 2013, the Kaunas Regional Court confirmed the list of creditors of BAB Ūkio Bankas and their financial claims. On 11 February 2014, the Court of Appeal of Lithuania by its final judgement rejected the complaints regarding the approval of the financial claim of the State undertaking Deposit and Investment Insurance (VĮ Indėlių ir Investicijų Draudimas), constituting more than half of the total financial claims lodged against the Bank.

In the light of the above circumstances and referring to Article 22 of the Enterprise Bankruptcy Law, please be informed that the first meeting of creditors of BAB Ūkio Bankas will be held on 18 March 2014 (Tuesday) at 10:00 a.m., at the following address: Kovo 11 – osios g. 26, Kaunas (in the hall of the Girstutis Culture Centre (Girstučio kultūros centras)). The registration of participants begins at 09:00 a.m.

Agenda of the meeting of creditors of the Bank and voting on the matters on the agenda

The purpose of the first meeting of creditors being convened is to elect the committee of creditors of BAB Ūkio Bankas, which, referring to Article 85(6) of the Law of the Republic of Lithuania on Banks, may enjoy all the rights granted by the Enterprise Bankruptcy Law of the Republic of Lithuania to the creditors’ meeting (except for the right to form and change the composition of the creditors’ meeting). Therefore, the first meeting of creditors of the Bank will consider the following agenda, where resolutions on the agenda matters will be taken in voting by the creditors:

1.Electing the secretary and the chairman of the meeting of creditors;
2.Determining the number of members of the creditors’ committee of BAB Ūkio Bankas;
3.Electing the members of the creditors’ committee of BAB Ūkio Bankas.
Referring to Article 85(6) of the Law on Banks and Article 25 of the Enterprise Bankruptcy Law, the creditors’ committee of the Bank must have at least 5 members and not more than 15 members. The State undertaking Deposit and Investment Insurance (VĮ Indėlių ir Investicijų Draudimas) must be one of the members of the creditors’ committee. The representative of the Bank’s employees authorised to defend employment-related claims must be elected to the creditors’ committee.

Draft resolutions on the agenda matters proposed by the bankruptcy administrator are specified in the enclosed ballot paper for written voting.

Creditors may vote in writing on the matters included on the agenda, by filling in the enclosed ballot paper for written voting. Witten votes will be included in the voting for the resolutions adopted at the creditors’ meeting. The ballot paper for written voting may be delivered in two ways:

1.by 12 March 2014 (inclusive), sending a properly filled in and singed ballot paper to BAB Ūkio Bankas by mail to the following address: Maironio g. 26/Laisvės al. 80, Kaunas. All ballot papers received by BAB Ūkio Bankas after 17:00 p.m. on 17 March 2014 will not be included in the voting results;
2.by 12 March 2014 (inclusive), serving a properly filled in and singed ballot paper to BAB Ūkio Bankas upon arrival at the bank, at the following address: Maironio g. 26/Laisvės al. 80, Kaunas. Ballots may be delivered within the established time limit on business days from 9:00 a.m. till 12:00 p.m. and from 13:00 p.m. till 17:00 p.m. Upon arrival at BAB Ūkio Bankas, the creditor must have a personal identification document.
The Bank’s creditors are entitled to submit draft resolutions proposed by them with respect to the matters on the agenda to be voted at the first meeting of creditors by 12 March 2014, 17:00 p.m. Proposals may be submitted by filling in the ballot paper for written voting (unless the creditor attends the meeting) or by submitting a written proposal on the matter included on the agenda (if the creditor attends the meeting and/or does not wish to vote in writing). Proposals for the agenda must be submitted following the same procedure as in the event of the ballot paper for written voting. The creditor may propose to vote and the meeting will vote only for the whole composition of the creditors’ committee (not for individual members of the committee).

The course and the procedure of the meeting.

Upon arrival at the meeting of creditors, please have with you:

1.a personal identification document (passport, identity card);
2.a proxy if you represent a natural or legal person (if you represent other natural person, a proxy certified by a notary public; if you represent a legal person, a proxy issued by a representative of the legal person; attorneys-at-law representing a natural or legal person must have the representation agreement);
3.a pen for filling in a ballot paper.
The bankruptcy administrator of the Bank by his decision establishes the following procedure of the expected meeting of creditors:

•Registration of the participants of the meeting begins at 09:00 a.m.;
•The meeting of creditors begins at 10:00 a.m. and the agenda and the procedure of the meeting is presented;
•The participants of the meeting adopt resolutions on the agenda matters by voting;
•The review of actions carried out in the bankruptcy proceedings against the Bank is presented (no voting takes place);
•The meeting is closed.
Please note that you are not obliged to participate and vote at the meeting of creditors of BAB Ūkio Bankas, you should decide yourself as to the participation and voting in the meeting. Your choice not to participate and/or vote at the meeting will not affect your financial claim and/or its satisfaction in accordance with the procedure prescribed by law. No issues relating to the satisfaction of claims or sale of the assets of BAB Ūkio Bankas or any other matters, with the exception of those specified in the agenda provided for herein, will be considered in the meeting of creditors being convened.

ENCLOSED: Ballot paper for written voting in the first meeting of creditors of BAB Ūkio Bankas.

Sincerely

Gintaras Adomonis,

Authorised person of UAB Valnetas, the bankruptcy administrator of BAB Ūkio Bankas

[Weststandwanab]

Link doesn't work :( Sorry it does for me.




Thanks for doing that.

[Mikey09]

oh yeah, the wee comfort blanket............




12167


Ahh.... That's the very one!! How something so small and insignificant can take all your troubles away. Thanks Craig.... :thumbsup:

[Ozyhibby]

And here it starts.

http://www.ub.lt/en/to-creditors/news/73-notification-of-uab-valnetas-the-bankruptcy-administrator-of-bab-ukio-bankas-on-convening-the-first-meeting-of-creditors-of-bab-ukio-bankas (http://www.ub.lt/en/to-creditors/news/73-notification-of-uab-valnetas-the-bankruptcy-administrator-of-bab-ukio-bankas-on-convening-the-first-meeting-of-creditors-of-bab-ukio-bankas)

Hope the link works.

To Yams reading be afraid very afraid.

Looks like the yams are facing another delay. There is no way they can be discussed at this meeting or there would be a mention in the postal voting part?

[GreenLake]

Lithuanians are very concerned about the events unfolding in Ukraine and fear they might be next in line for Russian tanks rolling in. Yams don't do themselves any favours by incessantly lauding "King Vlad" and his "proud" Russian origins. Lithuanians in fear of their national security won't be worried about unfreezing shares and passing a CVA, especially when the Jambos worship a Russian Submariner who looted their banks.

http://www.miamiherald.com/2014/03/09/3984350/in-the-baltics-russias-takeover.html

[Hermit Crab]

Notification of UAB Valnetas, the Bankruptcy administrator of BAB Ūkio bankas, on convening the first meeting of creditors of BAB Ūkio bankas
2014-02-28

Dear creditor,

The bankruptcy administrator of the failing AB Ūkio Bankas, legal entity code 112020136 (hereinafter, BAB Ūkio Bankas) hereby notifies you of the convocation of the first meeting of creditors of BAB Ūkio Bankas. The receipt of this letter confirms that your financial claim against BAB Ūkio Bankas has been approved by the final judgement of the Kaunas Regional Court and you are entitled to take part in the meeting of creditors of BAB Ūkio Bankas and express your will by voting on the matters included on the agenda of the meeting in accordance with the procedure prescribed herein and in the ballot paper.

Basic information about the ground for convening the meeting of creditors of BAB Ūkio Bankas, the place and time of the meeting

By the judgement of 2 May 2013, the Kaunas Regional Court initiated bankruptcy proceedings against AB Ūkio Bankas, appointed UAB Valnetas (legal entity code 135778275, authorisation for provision of bankruptcy administration services No. 69) to be the bankruptcy administrator ofBAB Ūkio Bankas, with Gintaras Adomonis (bankruptcy administrator qualification certificate No. 427c) as an authorised person, tel.: (8 37) 20 27 22, fax.: (8 37) 20 27 40, e-mail: [email protected] email address is being protected from spambots. You need JavaScript enabled to view it. . The Kaunas Regional Court’s judgement initiating bankruptcy proceedings came into effect on 7 June 2013.

By the judgement of 17 October 2013, the Kaunas Regional Court confirmed the list of creditors of BAB Ūkio Bankas and their financial claims. On 11 February 2014, the Court of Appeal of Lithuania by its final judgement rejected the complaints regarding the approval of the financial claim of the State undertaking Deposit and Investment Insurance (VĮ Indėlių ir Investicijų Draudimas), constituting more than half of the total financial claims lodged against the Bank.

In the light of the above circumstances and referring to Article 22 of the Enterprise Bankruptcy Law, please be informed that the first meeting of creditors of BAB Ūkio Bankas will be held on 18 March 2014 (Tuesday) at 10:00 a.m., at the following address: Kovo 11 – osios g. 26, Kaunas (in the hall of the Girstutis Culture Centre (Girstučio kultūros centras)). The registration of participants begins at 09:00 a.m.

Agenda of the meeting of creditors of the Bank and voting on the matters on the agenda

The purpose of the first meeting of creditors being convened is to elect the committee of creditors of BAB Ūkio Bankas, which, referring to Article 85(6) of the Law of the Republic of Lithuania on Banks, may enjoy all the rights granted by the Enterprise Bankruptcy Law of the Republic of Lithuania to the creditors’ meeting (except for the right to form and change the composition of the creditors’ meeting). Therefore, the first meeting of creditors of the Bank will consider the following agenda, where resolutions on the agenda matters will be taken in voting by the creditors:

1.Electing the secretary and the chairman of the meeting of creditors;
2.Determining the number of members of the creditors’ committee of BAB Ūkio Bankas;
3.Electing the members of the creditors’ committee of BAB Ūkio Bankas.
Referring to Article 85(6) of the Law on Banks and Article 25 of the Enterprise Bankruptcy Law, the creditors’ committee of the Bank must have at least 5 members and not more than 15 members. The State undertaking Deposit and Investment Insurance (VĮ Indėlių ir Investicijų Draudimas) must be one of the members of the creditors’ committee. The representative of the Bank’s employees authorised to defend employment-related claims must be elected to the creditors’ committee.

Draft resolutions on the agenda matters proposed by the bankruptcy administrator are specified in the enclosed ballot paper for written voting.

Creditors may vote in writing on the matters included on the agenda, by filling in the enclosed ballot paper for written voting. Witten votes will be included in the voting for the resolutions adopted at the creditors’ meeting. The ballot paper for written voting may be delivered in two ways:

1.by 12 March 2014 (inclusive), sending a properly filled in and singed ballot paper to BAB Ūkio Bankas by mail to the following address: Maironio g. 26/Laisvės al. 80, Kaunas. All ballot papers received by BAB Ūkio Bankas after 17:00 p.m. on 17 March 2014 will not be included in the voting results;
2.by 12 March 2014 (inclusive), serving a properly filled in and singed ballot paper to BAB Ūkio Bankas upon arrival at the bank, at the following address: Maironio g. 26/Laisvės al. 80, Kaunas. Ballots may be delivered within the established time limit on business days from 9:00 a.m. till 12:00 p.m. and from 13:00 p.m. till 17:00 p.m. Upon arrival at BAB Ūkio Bankas, the creditor must have a personal identification document.
The Bank’s creditors are entitled to submit draft resolutions proposed by them with respect to the matters on the agenda to be voted at the first meeting of creditors by 12 March 2014, 17:00 p.m. Proposals may be submitted by filling in the ballot paper for written voting (unless the creditor attends the meeting) or by submitting a written proposal on the matter included on the agenda (if the creditor attends the meeting and/or does not wish to vote in writing). Proposals for the agenda must be submitted following the same procedure as in the event of the ballot paper for written voting. The creditor may propose to vote and the meeting will vote only for the whole composition of the creditors’ committee (not for individual members of the committee).

The course and the procedure of the meeting.

Upon arrival at the meeting of creditors, please have with you:

1.a personal identification document (passport, identity card);
2.a proxy if you represent a natural or legal person (if you represent other natural person, a proxy certified by a notary public; if you represent a legal person, a proxy issued by a representative of the legal person; attorneys-at-law representing a natural or legal person must have the representation agreement);
3.a pen for filling in a ballot paper.
The bankruptcy administrator of the Bank by his decision establishes the following procedure of the expected meeting of creditors:

•Registration of the participants of the meeting begins at 09:00 a.m.;
•The meeting of creditors begins at 10:00 a.m. and the agenda and the procedure of the meeting is presented;
•The participants of the meeting adopt resolutions on the agenda matters by voting;
•The review of actions carried out in the bankruptcy proceedings against the Bank is presented (no voting takes place);
•The meeting is closed.
Please note that you are not obliged to participate and vote at the meeting of creditors of BAB Ūkio Bankas, you should decide yourself as to the participation and voting in the meeting. Your choice not to participate and/or vote at the meeting will not affect your financial claim and/or its satisfaction in accordance with the procedure prescribed by law. No issues relating to the satisfaction of claims or sale of the assets of BAB Ūkio Bankas or any other matters, with the exception of those specified in the agenda provided for herein, will be considered in the meeting of creditors being convened.

ENCLOSED: Ballot paper for written voting in the first meeting of creditors of BAB Ūkio Bankas.

Sincerely

Gintaras Adomonis,

Authorised person of UAB Valnetas, the bankruptcy administrator of BAB Ūkio Bankas

Cheers for that.

[Sergey]

Looks like the yams are facing another delay. There is no way they can be discussed at this meeting or there would be a mention in the postal voting part?

This is old news as GreenGinger posted this when the document was issued on the 28th February.

As has been mentioned, this is nothing more than an election of the creditors committee - the exact same thing needs to happen with UBIG and as yet, there's no mention of their initial meeting taking place.

#allverycomplex
#allverytimeconsuming
#freezerstillon

[Ozyhibby]

This is old news as GreenGinger posted this when the document was issued on the 28th February.

As has been mentioned, this is nothing more than an election of the creditors committee - the exact same thing needs to happen with UBIG and as yet, there's no mention of their initial meeting taking place.

#allverycomplex
#allverytimeconsuming
#freezerstillon

So there is a fair chance that these guys are going meet, elect a creditors committee, have a quick vote to see who brings the custard creams to the next meeting and schedule it for about 6 months time when the new creditor committee will have had a chance to see what they are dealing with?

[mjhibby]

Since Cheltenham starts today its got to be said "I think even Istabraq would struggle to clear these hurdles!"
I doubt Istabraq could as he's been long since retired but not even hurricane fly could.:wink:

[Kato]

So there is a fair chance that these guys are going meet, elect a creditors committee, have a quick vote to see who brings the custard creams to the next meeting and schedule it for about 6 months time when the new creditor committee will have had a chance to see what they are dealing with?

They're doing a damn fine job in difficult circumstances.

[Dashing Bob S]

This is old news as GreenGinger posted this when the document was issued on the 28th February.

As has been mentioned, this is nothing more than an election of the creditors committee - the exact same thing needs to happen with UBIG and as yet, there's no mention of their initial meeting taking place.

#allverycomplex
#allverytimeconsuming
#freezerstillon

The good thing is that the Yams on Kickback won't know or will willfully choose to ignore the difference. So it may be another squandered week of backslapping rather than asking hard questions about the survival of their club.

Never thought that international law and finance could be so damned sexy.

[Jack Hackett]

While they can't use the money now, the earlier they are on sale, the more they will sell.
Assume they get their CVA and eventually come out of admin a week before the season starts. The chances of them selling 8000 season tickets in a week to people with cash up front is very slim.
The sooner they are on sale the better for them.

It should be added that, like Dunfy, there will probably be no monthly payment option if they sell pre admin exit. it will have to be the full amount in cash....which could scupper plans to shed tears on Bulgarian balconies :greengrin

[Sergey]

The good thing is that the Yams on Kickback won't know or will willfully choose to ignore the difference. So it may be another squandered week of backslapping rather than asking hard questions about the survival of their club.

Never thought that international law and finance could be so damned sexy.

Indeed, Bob. The love-in between BDO/FoH and the Lith authorities sort of reminds me of those Russian dating sites, the ones where some unsuspecting Yam thinks he's talking to a glamorous 23-year-old who calls herself "Olga" who communicates messages such as ""I'm very caring person and loving, I will do for you everything to make you feel good." This drags on for a few months until they agree on-line to marry.

The whole episode is obviously too good to be true and unsuspecting Yam is duly scammed for his cash under the premise that she needs a plane ticket to the UK, only this time it's on the never-never of fan ownership.

[Crazyhorse]

[QUOTE=Sergey;3928679]Indeed, Bob. The love-in between BDO/FoH and the Lith authorities sort of reminds me of those Russian dating sites, the ones where some unsuspecting Yam thinks he's talking to a glamorous 23-year-old who calls herself "Olga" who communicates messages such as ""I'm very caring person and loving, I will do for you everything to make you feel good." This drags on for a few months until they agree on-line to marry.

Sort of reminds you.... Do tell Sergey. What happened next? She didn't turn out to be a glamorous 23 year old?

[CropleyWasGod]

[QUOTE=Sergey;3928679]Indeed, Bob. The love-in between BDO/FoH and the Lith authorities sort of reminds me of those Russian dating sites, the ones where some unsuspecting Yam thinks he's talking to a glamorous 23-year-old who calls herself "Olga" who communicates messages such as ""I'm very caring person and loving, I will do for you everything to make you feel good." This drags on for a few months until they agree on-line to marry.

Sort of reminds you.... Do tell Sergey. What happened next? She didn't turn out to be a glamorous 23 year old?

Twenty stone transvestite trucker from Tashkent was what I heard.

[Mikey]

Another head in the sander from Kickback (I simply cannot resist)

"This is a Hobo lie regarding not being able to sell tickets."



Just a reminder of where the info actually comes from.

"Graham Duncan ‏@RemvoxScotland Feb 21
@The_FOH #askian When are season tickets likely to go on sale?

Foundation of Hearts ‏@The_FOH Feb 21
Ian: Nothing can happen till club out of admin, and we know what division we are in. Club currently working on.

Foundation of Hearts ‏@The_FOH Feb 21
Ian: As stated earlier, STs only on sale post-admin, and once we know what division. Club / BIDCO working on plan."


All Hobo lies. Does this mean that Ian Murray is actually a Hibs fan? That would certainly explain the fact his office is painted green :cb

This should be repeated until they finally get it.

:sofa:

[Mikey]

I have done plenty research. They can sell them if the need arises.

I would gladly admit I am wrong if you can send me a link to any document that will back you up.

Here it is trumpet heid. From the FOH Q&A in February, not made up by any bitter hobo's :wink:


"Graham Duncan ‏@RemvoxScotland Feb 21
@The_FOH #askian When are season tickets likely to go on sale?

Foundation of Hearts ‏@The_FOH Feb 21
Ian: Nothing can happen till club out of admin, and we know what division we are in. Club currently working on.

Foundation of Hearts ‏@The_FOH Feb 21
Ian: As stated earlier, STs only on sale post-admin, and once we know what division. Club / BIDCO working on plan."

That's Ian Murray answering that question and he's an MP you know :cb

[Springbank]

Notification of UAB Valnetas, the Bankruptcy administrator of BAB Ūkio bankas, on convening the first meeting of creditors of BAB Ūkio bankas
2014-02-28

Dear creditor,

The bankruptcy administrator of the failing AB Ūkio Bankas, legal entity code 112020136 (hereinafter, BAB Ūkio Bankas) hereby notifies you of the convocation of the first meeting of creditors of BAB Ūkio Bankas. The receipt of this letter confirms that your financial claim against BAB Ūkio Bankas has been approved by the final judgement of the Kaunas Regional Court and you are entitled to take part in the meeting of creditors of BAB Ūkio Bankas and express your will by voting on the matters included on the agenda of the meeting in accordance with the procedure prescribed herein and in the ballot paper.

Basic information about the ground for convening the meeting of creditors of BAB Ūkio Bankas, the place and time of the meeting

By the judgement of 2 May 2013, the Kaunas Regional Court initiated bankruptcy proceedings against AB Ūkio Bankas, appointed UAB Valnetas (legal entity code 135778275, authorisation for provision of bankruptcy administration services No. 69) to be the bankruptcy administrator ofBAB Ūkio Bankas, with Gintaras Adomonis (bankruptcy administrator qualification certificate No. 427c) as an authorised person, tel.: (8 37) 20 27 22, fax.: (8 37) 20 27 40, e-mail: [email protected] email address is being protected from spambots. You need JavaScript enabled to view it. . The Kaunas Regional Court’s judgement initiating bankruptcy proceedings came into effect on 7 June 2013.

By the judgement of 17 October 2013, the Kaunas Regional Court confirmed the list of creditors of BAB Ūkio Bankas and their financial claims. On 11 February 2014, the Court of Appeal of Lithuania by its final judgement rejected the complaints regarding the approval of the financial claim of the State undertaking Deposit and Investment Insurance (VĮ Indėlių ir Investicijų Draudimas), constituting more than half of the total financial claims lodged against the Bank.

In the light of the above circumstances and referring to Article 22 of the Enterprise Bankruptcy Law, please be informed that the first meeting of creditors of BAB Ūkio Bankas will be held on 18 March 2014 (Tuesday) at 10:00 a.m., at the following address: Kovo 11 – osios g. 26, Kaunas (in the hall of the Girstutis Culture Centre (Girstučio kultūros centras)). The registration of participants begins at 09:00 a.m.

Agenda of the meeting of creditors of the Bank and voting on the matters on the agenda

The purpose of the first meeting of creditors being convened is to elect the committee of creditors of BAB Ūkio Bankas, which, referring to Article 85(6) of the Law of the Republic of Lithuania on Banks, may enjoy all the rights granted by the Enterprise Bankruptcy Law of the Republic of Lithuania to the creditors’ meeting (except for the right to form and change the composition of the creditors’ meeting). Therefore, the first meeting of creditors of the Bank will consider the following agenda, where resolutions on the agenda matters will be taken in voting by the creditors:

1.Electing the secretary and the chairman of the meeting of creditors;
2.Determining the number of members of the creditors’ committee of BAB Ūkio Bankas;
3.Electing the members of the creditors’ committee of BAB Ūkio Bankas.
Referring to Article 85(6) of the Law on Banks and Article 25 of the Enterprise Bankruptcy Law, the creditors’ committee of the Bank must have at least 5 members and not more than 15 members. The State undertaking Deposit and Investment Insurance (VĮ Indėlių ir Investicijų Draudimas) must be one of the members of the creditors’ committee. The representative of the Bank’s employees authorised to defend employment-related claims must be elected to the creditors’ committee.

Draft resolutions on the agenda matters proposed by the bankruptcy administrator are specified in the enclosed ballot paper for written voting.

Creditors may vote in writing on the matters included on the agenda, by filling in the enclosed ballot paper for written voting. Witten votes will be included in the voting for the resolutions adopted at the creditors’ meeting. The ballot paper for written voting may be delivered in two ways:

1.by 12 March 2014 (inclusive), sending a properly filled in and singed ballot paper to BAB Ūkio Bankas by mail to the following address: Maironio g. 26/Laisvės al. 80, Kaunas. All ballot papers received by BAB Ūkio Bankas after 17:00 p.m. on 17 March 2014 will not be included in the voting results;
2.by 12 March 2014 (inclusive), serving a properly filled in and singed ballot paper to BAB Ūkio Bankas upon arrival at the bank, at the following address: Maironio g. 26/Laisvės al. 80, Kaunas. Ballots may be delivered within the established time limit on business days from 9:00 a.m. till 12:00 p.m. and from 13:00 p.m. till 17:00 p.m. Upon arrival at BAB Ūkio Bankas, the creditor must have a personal identification document.
The Bank’s creditors are entitled to submit draft resolutions proposed by them with respect to the matters on the agenda to be voted at the first meeting of creditors by 12 March 2014, 17:00 p.m. Proposals may be submitted by filling in the ballot paper for written voting (unless the creditor attends the meeting) or by submitting a written proposal on the matter included on the agenda (if the creditor attends the meeting and/or does not wish to vote in writing). Proposals for the agenda must be submitted following the same procedure as in the event of the ballot paper for written voting. The creditor may propose to vote and the meeting will vote only for the whole composition of the creditors’ committee (not for individual members of the committee).

The course and the procedure of the meeting.

Upon arrival at the meeting of creditors, please have with you:

1.a personal identification document (passport, identity card);
2.a proxy if you represent a natural or legal person (if you represent other natural person, a proxy certified by a notary public; if you represent a legal person, a proxy issued by a representative of the legal person; attorneys-at-law representing a natural or legal person must have the representation agreement);
3.a pen for filling in a ballot paper.
The bankruptcy administrator of the Bank by his decision establishes the following procedure of the expected meeting of creditors:

•Registration of the participants of the meeting begins at 09:00 a.m.;
•The meeting of creditors begins at 10:00 a.m. and the agenda and the procedure of the meeting is presented;
•The participants of the meeting adopt resolutions on the agenda matters by voting;
•The review of actions carried out in the bankruptcy proceedings against the Bank is presented (no voting takes place);
•The meeting is closed.
Please note that you are not obliged to participate and vote at the meeting of creditors of BAB Ūkio Bankas, you should decide yourself as to the participation and voting in the meeting. Your choice not to participate and/or vote at the meeting will not affect your financial claim and/or its satisfaction in accordance with the procedure prescribed by law. No issues relating to the satisfaction of claims or sale of the assets of BAB Ūkio Bankas or any other matters, with the exception of those specified in the agenda provided for herein, will be considered in the meeting of creditors being convened.

ENCLOSED: Ballot paper for written voting in the first meeting of creditors of BAB Ūkio Bankas.

Sincerely

Gintaras Adomonis,

Authorised person of UAB Valnetas, the bankruptcy administrator of BAB Ūkio Bankas

The sentence after the email address.
Genius.
They've got the jambos number all right

"this email address is protected from spambots"

[Dashing Bob S]

Here it is trumpet heid. From the FOH Q&A in February, not made up by any bitter hobo's :wink:



That's Ian Murray answering that question and he's an MP you know :cb

To be fair to the admittedly very dim polo-head on Kickback, there still is a decent chance that he has done more research than Murray.

[Aldo]

This should be repeated until they finally get it. :sofa:

Indeed however they'll have to wait until their mum or a family member that can read gets in and reads it to them and then explains it before their tiny pea brains 'get it'

It's funny who they think that it's a 'Hobo myth' or totally a lie made up by .net when all along the info is from BDO/FOF.

If they cannot see it or hear it from their own then they never will get it IMHO.

Deluded roasters

[Kato]

Deluded roasters


True, but those words are still inadequate when it comes to quantifying the scale of their delusion and hugeness of the roasterdom.

[Aldo]

True, but those words are still inadequate when it comes to quantifying the scale of their delusion and hugeness of the roasterdom.

Easy for you to say?? ;-)

[Mikey]

Indeed however they'll have to wait until their mum or a family member that can read gets in and reads it to them and then explains it before their tiny pea brains 'get it'

It's funny who they think that it's a 'Hobo myth' or totally a lie made up by .net when all along the info is from BDO/FOF.

If they cannot see it or hear it from their own then they never will get it IMHO.

Deluded roasters

Maybe one of his dafty pals will be good enough to copy and paste it over. Most of the rest of this thread has been pasted over there :greengrin

[Aldo]

Maybe one of his dafty pals will be good enough to copy and paste it over. Most of the rest of this thread has been pasted over there :greengrin

They more cut and pasting they do from here the better for .net in the long run. I found one of them online the other day.

Might be Shaun Lawson... Not sure tho.



12169

[FranckSuzy]

1.by 12 March 2014 (inclusive), sending a properly filled in and singed ballot paper to BAB Ūkio Bankas by mail to the following address: Maironio g. 26/Laisvės al. 80, Kaunas. All ballot papers received by BAB Ūkio Bankas after 17:00 p.m. on 17 March 2014 will not be included in the voting results;
2.by 12 March 2014 (inclusive), serving a properly filled in and singed ballot paper to BAB Ūkio Bankas upon arrival at the bank, at the following address: Maironio g. 26/Laisvės al. 80, Kaunas. Ballots may be delivered within the established time limit on business days from 9:00 a.m. till 12:00 p.m. and from 13:00 p.m. till 17:00 p.m. Upon arrival at BAB Ūkio Bankas, the creditor must have a personal identification document.


That's that f%cked then :tee hee:

[Dashing Bob S]

The Jambo's on Kickback have gone into a strange infantile zone. You feel like a teacher with a delinquent class of educationally subnormal kids, trying to explain that 2+2=4 and getting back comments like 'you smell' etc.

They just aren't grasping things at all. When they liquidate, they will stand looking at each other in bemusement, like the kids who got the arithmetic test paper back with a big F on it, and ask: 'how did that happen?'

[portycabbage]

The ballot paper for written voting may be delivered in two ways:

1.by 12 March 2014 (inclusive), sending a properly filled in and singed ballot paper to BAB Ūkio Bankas by mail to the following address: Maironio g. 26/Laisvės al. 80, Kaunas. All ballot papers received by BAB Ūkio Bankas after 17:00 p.m. on 17 March 2014 will not be included in the voting results;
2.by 12 March 2014 (inclusive), serving a properly filled in and singed ballot paper to BAB Ūkio Bankas upon arrival at the bank, at the following address: Maironio g. 26/Laisvės al. 80, Kaunas. Ballots may be delivered within the established time limit on business days from 9:00 a.m. till 12:00 p.m. and from 13:00 p.m. till 17:00 p.m. Upon arrival at BAB Ūkio Bankas, the creditor must have a personal identification document.


That's that f%cked then :tee hee:

Not only do they have to fill them in properly, but they have to singe them, presumably without burning them completely. And they need pens:


Upon arrival at the meeting of creditors, please have with you:

1.a personal identification document (passport, identity card);
2.a proxy if you represent a natural or legal person (if you represent other natural person, a proxy certified by a notary public; if you represent a legal person, a proxy issued by a representative of the legal person; attorneys-at-law representing a natural or legal person must have the representation agreement);
3.a pen for filling in a ballot paper.

[Kato]

Not only do they have to fill them in properly, but they have to singe them, presumably without burning them completely. And they need pens:

If it were pegs I could help out.

All those creditors have been burned already, what's a bit singeing after that?

[FranckSuzy]

Not only do they have to fill them in properly, but they have to singe them, presumably without burning them completely. And they need pens:

Great spot :thumbsup: Ha, ha, ha. What a load of :trumpet:'s they are.

[portycabbage]

Great spot :thumbsup: Ha, ha, ha. What a load of :trumpet:'s they are.

http://www.hibs.net/images/hibsnet/misc/quote_icon.png Originally Posted by Craig_in_Prague http://www.hibs.net/images/hibsnet/buttons/viewpost-right.png (http://www.hibs.net/showthread.php?p=3928596#post3928596)
Upon arrival at the meeting of creditors, please have with you:

1.a personal identification document (passport, identity card);
2.a proxy if you represent a natural or legal person (if you represent other natural person, a proxy certified by a notary public; if you represent a legal person, a proxy issued by a representative of the legal person; attorneys-at-law representing a natural or legal person must have the representation agreement);
3.a pen for filling in a ballot paper.



See also (2.) above:greengrin

Although surely this is all directed at creditors rather than those associated with the club itself?:wink:

[Sergey]

Haha - One of the their so called 'in crowd' posted:


I have absolutely no idea....

You speak for hundreds of thousands.

Just read .net - PM me if you want and I'll post you my cock...

...cretin!

[monktonharp]

And here it starts.

http://www.ub.lt/en/to-creditors/news/73-notification-of-uab-valnetas-the-bankruptcy-administrator-of-bab-ukio-bankas-on-convening-the-first-meeting-of-creditors-of-bab-ukio-bankas (http://www.ub.lt/en/to-creditors/news/73-notification-of-uab-valnetas-the-bankruptcy-administrator-of-bab-ukio-bankas-on-convening-the-first-meeting-of-creditors-of-bab-ukio-bankas)

Hope the link works.

To Yams reading be afraid very afraid. excellent stuff westand, and very interesting, having a peek at what the next stage is, for all informed that have been ripped off by this despicable lot. as I see it, the gorgie mob are just a small cog, in the machinery that is about to be dismantled and I like the explanations being given about the forming of a committee. "there must be a representative of bank employees(creditors) appointed. there must be a state representative appointed"(creditors) and I love the bit where it says .......you must have a pen! to sign the form.:not worth the number of times I've forgot my pen, to sign this that whatever, does not bear thinking about:greengrin it also states that the appointed committee can be 5 at least, or 15 at most. I'm hoping it will be the max. could be some right argy bargy going in when they actually sit doon to discuss the mess.:wink:

[Nailrod]

:grr:

[Weststandwanab]

excellent stuff westand, and very interesting, having a peek at what the next stage is, for all informed that have been ripped off by this despicable lot. as I see it, the gorgie mob are just a small cog, in the machinery that is about to be dismantled and I like the explanations being given about the forming of a committee. "there must be a representative of bank employees(creditors) appointed. there must be a state representative appointed"(creditors) and I love the bit where it says .......you must have a pen! to sign the form.:not worth the number of times I've forgot my pen, to sign this that whatever, does not bear thinking about:greengrin it also states that the appointed committee can be 5 at least, or 15 at most. I'm hoping it will be the max. could be some right argy bargy going in when they actually sit doon to discuss the mess.:wink: You are welcome.

I liked the references to Spambots (I think we should adopt this term) and a pen.

[The Falcon]

No issues relating to the satisfaction of claims or sale of the assets of BAB Ūkio Bankas or any other matters, with the exception of those specified in the agenda provided for herein, will be considered in the meeting of creditors being convened.

I take it this bit means that nothing will be discussed with regard to the CVA or anything else Hearts related or that matter?

[Weststandwanab]

I take it this bit means that nothing will be discussed with regard to the CVA or anything else Hearts related or that matter? That is the way I read it.

[Newry Hibs]

Some questions just to get myself back on track

1) There is a UKIO meeting planned. Why is this significant if it's the UBIG meeting that's important? Maybe it gives an indication of the process and time scale of any future UBIG meetng?

2) What is the significance of 'Bulgarian Balconies'? I seem to have missed this one.

[Craig_in_Prague]

I take it this bit means that nothing will be discussed with regard to the CVA or anything else Hearts related or that matter?

Exactamundo.

[nribs]

Some questions just to get myself back on track

1) There is a UKIO meeting planned. Why is this significant if it's the UBIG meeting that's important? Maybe it gives an indication of the process and time scale of any future UBIG meetng?

2) What is the significance of 'Bulgarian Balconies'? I seem to have missed this one.
Point 1 I'm unable to shed any light.

Point 2 - earlier in the season I think Hearts went to Celtic and got horsed 3 zip. Some Hearts walloper in Bulgaria had witnessed how the young Gorgie boys had put up such a courageous fight. As he was drinking some local plonk on his balcony in Bulgaria he was greeting like his sister/mother/father??

[Craig_in_Prague]

Some questions just to get myself back on track

1) There is a UKIO meeting planned. Why is this significant if it's the UBIG meeting that's important? Maybe it gives an indication of the process and time scale of any future UBIG meetng?

2) What is the significance of 'Bulgarian Balconies'? I seem to have missed this one.


1) UKIO still need to formally accept/approve the CVA (think it's UKIO that are owed around 15M and had floating charge on the PBS) --> the yams though celebrated the 'CVA in principle' a few months back and ignored all warning signs still very much flashing

2) some fan was on holiday there, who welled up with pride as the poor wee lambs got slaughtered from Celtic --> so it has became a bit of a running joke since

UBIG have the shares; without that there's no control - So TBH, we're galloping through March & anyone willing to now say Sergey was ever wrong?

There is so much still to happen in Hearts favour, that time looks against them.

Pleasing.

[Just Alf]

Some questions just to get myself back on track

1) There is a UKIO meeting planned. Why is this significant if it's the UBIG meeting that's important? Maybe it gives an indication of the process and time scale of any future UBIG meetng?

2) What is the significance of 'Bulgarian Balconies'? I seem to have missed this one.


On 2) see other answer!

on 1)

they need both both to run to a conclusion.... And as for the UBIG bit, the process hasn't even kicked off yet and arguably it's even more complicated than the UKIO process!

[Newry Hibs]

Thanks guys.

1) Still so much to do. Pleasing.

2) Pwoud, so very pwoud.

[CropleyWasGod]

Some questions just to get myself back on track

1) There is a UKIO meeting planned. Why is this significant if it's the UBIG meeting that's important? Maybe it gives an indication of the process and time scale of any future UBIG meetng?

2) What is the significance of 'Bulgarian Balconies'? I seem to have missed this one.

The upcoming UKIO creditors meeting has very little significance. Its prime function is to elect a creditors' committee. At some stage in the future, that committee will decide whether they can formally approve the CVA.

[jacomo]

Thanks guys.

1) Still so much to do. Pleasing.

2) Pwoud, so very pwoud.

Don't mock. The Famous War Heroes fought and died for your right to buy cheap off-season deals in Bulgarian self-catering apartments.

[HUTCHYHIBBY]

I doubt Istabraq could as he's been long since retired but not even hurricane fly could.:wink:

I was merely using the horse as an example of one of the best hurdle clearers of recent times. No need to take it too literally.

[Col2]

Best quote for me the thread on Kickback (trying to be a parody of this thread but now main update thread for info - the irony..) is:-

"The confusion over ST sales (if there is any) came from Ian Murray's tweets - he said something like ST's will go on sale when were out of admin - given the limited number of characters he could use he couldn't really and didn't expand on that. However we can sell them whenever we want but BDO would rather the new owners sold them. Its a complete non point and also why would be sell them now when we don't know what division we're selling them for (I know we do but its not been confirmed just yet)"

Now its the character limit on twitter thats to blame...always someone else...

[Gus Fring]

Watching Hearts fans ignore what is going on around them can be quite a fun experience. It's like watching a moron staring down the barrel of a shotgun whilst trying to fix the trigger. Eventually they are going to get quite a shock when it all goes wrong right in front of their faces. Even if by some miracle they do manage to survive being liquidated, they won't be able to survive being relegated.

The way things are headed Hearts would have been relegated even without the points deduction, so they can't blame that

They were allowed to sign a player as well who turned out to be just as rank rotten as the rest of them, so they can't blame that

This season was their first ever season of living within their means, so they can't blame that.

Let it be known and let it be clear, Hearts will not be relegated because they were punished, Hearts will be relegated because they are jobbies!

[Platinum Scotty]

Watching Hearts fans ignore what is going on around them can be quite a fun experience. It's like watching a moron staring down the barrel of a shotgun whilst trying to fix the trigger. Eventually they are going to get quite a shock when it all goes wrong right in front of their faces. Even if by some miracle they do manage to survive being liquidated, they won't be able to survive being relegated.

The way things are headed Hearts would have been relegated even without the points deduction, so they can't blame that

They were allowed to sign a player as well who turned out to be just as rank rotten as the rest of them, so they can't blame that

This season was their first ever season of living within their means, so they can't blame that.

Let it be known and let it be clear, Hearts will not be relegated because they were punished, Hearts will be relegated because they are ******!

:thumbsup:

[GreenLake]

Best quote for me the thread on Kickback (trying to be a parody of this thread but now main update thread for info - the irony..) is:-

"The confusion over ST sales (if there is any) came from Ian Murray's tweets - he said something like ST's will go on sale when were out of admin - given the limited number of characters he could use he couldn't really and didn't expand on that. However we can sell them whenever we want but BDO would rather the new owners sold them. Its a complete non point and also why would be sell them now when we don't know what division we're selling them for (I know we do but its not been confirmed just yet)"

Now its the character limit on twitter thats to blame...always someone else...

The maroon hand wringers will clutch at anything these days - especially straws with which to suck up the Kool-Aid from I'm an MP.

[Joe's ice cream]

Point 2 - earlier in the season I think Hearts went to Celtic and got horsed 3 zip. Some Hearts walloper in Bulgaria had witnessed how the young Gorgie boys had put up such a courageous fight. As he was drinking some local plonk on his balcony in Bulgaria he was greeting like his sister/mother/father??

I'm not sure but i think in a Hearts family these are actualy all the same people!!

[Ozyhibby]

Best quote for me the thread on Kickback (trying to be a parody of this thread but now main update thread for info - the irony..) is:-

"The confusion over ST sales (if there is any) came from Ian Murray's tweets - he said something like ST's will go on sale when were out of admin - given the limited number of characters he could use he couldn't really and didn't expand on that. However we can sell them whenever we want but BDO would rather the new owners sold them. Its a complete non point and also why would be sell them now when we don't know what division we're selling them for (I know we do but its not been confirmed just yet)"

Now its the character limit on twitter thats to blame...always someone else...

What do we want?

A higher character limit than only the 140 that Twitter currently allows each user for each tweet

When do we want it?

N

[FranckSuzy]

http://www.hibs.net/images/hibsnet/misc/quote_icon.png Originally Posted by Craig_in_Prague http://www.hibs.net/images/hibsnet/buttons/viewpost-right.png (http://www.hibs.net/showthread.php?p=3928596#post3928596)
Upon arrival at the meeting of creditors, please have with you:

1.a personal identification document (passport, identity card);
2.a proxy if you represent a natural or legal person (if you represent other natural person, a proxy certified by a notary public; if you represent a legal person, a proxy issued by a representative of the legal person; attorneys-at-law representing a natural or legal person must have the representation agreement);
3.a pen for filling in a ballot paper.



See also (2.) above:greengrin

Although surely this is all directed at creditors rather than those associated with the club itself?:wink:

:tee hee: Nice one. Couldn't be bothered reading anymore, TBH :yawn: All that remains is :cheerio: :bye:

[Dashing Bob S]

What do we want?

A higher character limit than only the 140 that Twitter currently allows each user for each tweet

When do we want it?

N

So it's a lack of character that's contributed to their demise.

Not for the first time.

[Geo_1875]

What do we want?

A higher character limit than only the 140 that Twitter currently allows each user for each tweet

When do we want it?

N

Classic.

[Calum68]

What do we want?

A higher character limit than only the 140 that Twitter currently allows each user for each tweet

When do we want it?

N

Brilliant.

[monktonharp]

Thanks guys.

1) Still so much to do. Pleasing.

2) Pwoud, so very pwoud. you are obviously up to speed now, re-Balconies etc, but I need to explain a bit further. there have been derivatives/ spin offs from the night the said proud fan made his fateful remark. like one or two of the phrases now commonly used around pubs/clubs in Edinburgh nowadays.....eg, stay away from the edge of your balcony...or jump aff yer balcony ya clown...or, shut it, ya big Bulgarian barsteward! .

[KeithTheHibby]

Best quote for me the thread on Kickback (trying to be a parody of this thread but now main update thread for info - the irony..) is:-

"The confusion over ST sales (if there is any) came from Ian Murray's tweets - he said something like ST's will go on sale when were out of admin - given the limited number of characters he could use he couldn't really and didn't expand on that. However we can sell them whenever we want but BDO would rather the new owners sold them. Its a complete non point and also why would be sell them now when we don't know what division we're selling them for (I know we do but its not been confirmed just yet)"

Now its the character limit on twitter thats to blame...always someone else...

What a total roaster. Some of these morons are unbelievable. It is clearly lost on this fud that Murray could have perhaps sent several other tweets?

[Winston Ingram]

What do we want?

A higher character limit than only the 140 that Twitter currently allows each user for each tweet

When do we want it?

N

:greengrin

[Peevemor]

What do we want?

A higher character limit than only the 140 that Twitter currently allows each user for each tweet

When do we want it?

N

Did anyone else just check the character count? :nerd:

[Dashing Bob S]

Middle of the week and still no timetable for the completion of this confounded CVA. What the hell is going on here? Too bloody complex for my liking!

[Jack]

I take it this bit means that nothing will be discussed with regard to the CVA or anything else Hearts related or that matter?

There was a suggestion on here there would be a vote about who would provide the custard creams for the next meeting. Another dotnet lie.

[Dashing Bob S]

There was a suggestion on here there would be a vote about who would provide the custard creams for the next meeting. Another dotnet lie.

Apparantly it's all gotten a little bit more complex. Apparently the creditors are insisting on Kit Kats now that they know Mrs Budge is involved.

[Ozyhibby]

Apparantly it's all gotten a little bit more complex. Apparently the creditors are insisting on Kit Kats now that they know Mrs Budge is involved.

Chunky or normal?

#allisverycomplex

[Winston Ingram]

JKB has now got so depressed it's resorted to nostalgia.

Threads about Colin Cameron's pen in the 98 cup final, Hearts related moments that bring you to tears (you must only be positive in this thread btw), Outstanding Hearts Youtube clips & wetting their pants over Paolo Sergio

That's what it's like to support the big team these days. Reminiscing over triumphs that the majority of, their club has yet to for:agree:

[Craig_in_Prague]

Apparantly it's all gotten a little bit more complex. Apparently the creditors are insisting on Kit Kats now that they know Mrs Budge is involved.

I bet when she is offered a sweet from the box of quality streets, her paws grab a few purple one's! (can't blame her mind, definitely the best)

[Craig_in_Prague]

JKB has now got so depressed it's resorted to nostalgia.

Threads about Colin Cameron's pen in the 98 cup final, Hearts related moments that bring you to tears (you must only be positive in this thread btw), Outstanding Hearts Youtube clips & wetting their pants over Paolo Sergio

That's what it's like to support the big team these days. Reminiscing over triumphs that the majority of, their club has yet to for:agree:

I really need to make more of these ?

12171

I know it's not a work of art, but it's hard to find the time to create anything fancy, in between selling pegs and injections.

[Ozyhibby]

I really think it's time we got our own house in order before we start worrying about 'the famous'.

http://www.hmfckickback.co.uk/index.php?/topic/137405-mr-petrie-will-not-be-pleased/#entry4086293

[Geo_1875]

I bet when she is offered a sweet from the box of quality streets, her paws grab a few purple one's! (can't blame her mind, definitely the best)

Can't resist the nuts?

[Dashing Bob S]

I bet when she is offered a sweet from the box of quality streets, her paws grab a few purple one's! (can't blame her mind, definitely the best)

I've heard that they are bringing out their own commemorative box of chocolates for this season called 'Lack of Quality Street.'

[CropleyWasGod]

I've heard that they are bringing out their own commemorative box of chocolates for this season called 'Lack of Quality Street.'

It sure as hell won't be Celebrations.

[Jack]

I really think it's time we got our own house in order before we start worrying about 'the famous'.

http://www.hmfckickback.co.uk/index.php?/topic/137405-mr-petrie-will-not-be-pleased/#entry4086293


Reckon HIbs made about £1 million from the Scottish Cup
in each of the last two seasons from gate receipts, prize money and t.v. money. Also walk up punters will be less for the remaining games as they totally pissed off. Don't think Mr. Petrie will be a happy man. Interesting to see Hibs accounts when they're published later this year.

It will indeed be interesting and they'll be there for all to see in good time.

If only they had taken such interest in their own accounts ... as and when they were published.

[GreenLake]

Hearts accounts will be short this year.

Pot to Pish in ---------------------- 0

[Dashing Bob S]

It will indeed be interesting and they'll be there for all to see in good time.

If only they had taken such interest in their own accounts ... as and when they were published.

The interest in our accounts shows the phenomenon of denial taken to unprecedented heights. It's like somebody who has fallen of a cruise ship and drowning at sea, pointing up to the other passengers and accusing them of having wet plimsols.

[stevejordan]

The only precedent set is the Portsmouth situation in which case we are not talking weeks or months for this to be resolved more like Years these announcements of agreements in principal are flawed and they have jumped on the bandwagon thinking/hoping all is in the bag the reality is their is a long rocky road ahead that will take years to resolve untangle the webb lift by the Man on the Run.

In reality they have burried their heads in the sand crossed both fingers in the hope that all will be well.

[Sioux]

I really think it's time we got our own house in order before we start worrying about 'the famous'.

http://www.hmfckickback.co.uk/index.php?/topic/137405-mr-petrie-will-not-be-pleased/#entry4086293

KB's just like a funeral/wake these days. Its all about remembering the good times, as if they have subconsciously accepted they have lost a loved one, and don't want to talk about the circumstances relating to how the deceased passed away.

What a crying shame! :violin:
**** thum.

[Craig_in_Prague]

It will indeed be interesting and they'll be there for all to see in good time.

If only they had taken such interest in their own accounts ... as and when they were published.

They anyway say a trading loss is 'cheating'

Yamonomics.

Plums

[Craig_in_Prague]

the interest in our accounts shows the phenomenon of denial taken to unprecedented heights. It's like somebody who has fallen of a cruise ship and drowning at sea, pointing up to the other passengers and accusing them of having wet plimsols.

pmsl !!

[CyberSauzee]

I really think it's time we got our own house in order before we start worrying about 'the famous'.

http://www.hmfckickback.co.uk/index.php?/topic/137405-mr-petrie-will-not-be-pleased/#entry4086293


Do they have their equivalent of CWG yet?

Maybe 'Bannon Was OK' or 'So-so Donald Park'?

[Pete]

I really think it's time we got our own house in order before we start worrying about 'the famous'.

http://www.hmfckickback.co.uk/index.php?/topic/137405-mr-petrie-will-not-be-pleased/#entry4086293
Has the good old 12000 break even figure been mentioned yet?

Desperate. They're making fools of themselves.

[Col2]

The interest in our accounts shows the phenomenon of denial taken to unprecedented heights. It's like somebody who has fallen of a cruise ship and drowning at sea, pointing up to the other passengers and accusing them of having wet plimsols.

I have a boss like that and I say to others, its like the house is on fire we are all inside getting burnt, the windows are falling in and the ceiling is coming down and he is saying "never mind that, have a look at the neigbours house next door, isn't his garden well looked after and that extension he built must have made a huge difference, especially with him having a big family etc etc etc...."

[SteveHFC]

Heard a wee rumour the under 14's derby at the weekend has been cancelled due to Hearts not being able to afford to pay the coaches. :cb

[GordonHFC]

Do they have their equivalent of CWG yet?

Maybe 'Bannon Was OK' or 'So-so Donald Park'?

They do have a CWG - "Crap Willie Gibson" the older ones amongst us will know who I am talking about :aok:

[CropleyWasGod]

They do have a CWG - "Crap Willie Gibson" the older ones amongst us will know who I am talking about :aok:

Never heard of him. :greengrin

Carruthers, Winchester and Gibson? Doubt they ever played together, but they should have.....

[Liberal Hibby]

Carruthers, Winchester and Gibson? Doubt they ever played together, but they should have.....

I thought they were an accountancy firm...

[CropleyWasGod]

I thought they were an accountancy firm...

They'd have been as well, given the collective fitba talent.

I have a vague memory of Ernie Winchester running into a goalpost in one game. I have no vague memories of Eric Carruthers at all.

[Weststandwanab]

The only precedent set is the Portsmouth situation in which case we are not talking weeks or months for this to be resolved more like Years these announcements of agreements in principal are flawed and they have jumped on the bandwagon thinking/hoping all is in the bag the reality is their is a long rocky road ahead that will take years to resolve untangle the webb lift by the Man on the Run.

In reality they have burried their heads in the sand crossed both fingers in the hope that all will be well. Some of us have been saying this since Admin started.


Do they have their equivalent of CWG yet?

Maybe 'Bannon Was OK' or 'So-so Donald Park'? We could sublet CWG


Heard a wee rumour the under 14's derby at the weekend has been cancelled due to Hearts not being able to afford to pay the coaches. :cb Is that the football coaches or the vehicles ?


Never heard of him. :greengrin

Carruthers, Winchester and Gibson? Doubt they ever played together, but they should have..... Sounds like a firm of lawyers.


I thought they were an accountancy firm... Careful.

[SteveHFC]

That will be football coaches

[Joe6-2]

Watching Hearts fans ignore what is going on around them can be quite a fun experience. It's like watching a moron staring down the barrel of a shotgun whilst trying to fix the trigger. Eventually they are going to get quite a shock when it all goes wrong right in front of their faces. Even if by some miracle they do manage to survive being liquidated, they won't be able to survive being relegated.

The way things are headed Hearts would have been relegated even without the points deduction, so they can't blame that

They were allowed to sign a player as well who turned out to be just as rank rotten as the rest of them, so they can't blame that

This season was their first ever season of living within their means, so they can't blame that.

Let it be known and let it be clear, Hearts will not be relegated because they were punished, Hearts will be relegated because they are jobbies!
Love this! :-D

[CropleyWasGod]

Eric is, and has been for a long time, bald. Lives in the new town.

Eric was Bauld?

I knew that Bauld had fallen out with Hearts, but are you saying he wormed his way back into Tynie by wearing a blonde wig?

[HIBERNIAN-0762]

They'd have been as well, given the collective fitba talent.

I have a vague memory of Ernie Winchester running into a goalpost in one game. I have no vague memories of Eric Carruthers at all.

I was on nodding terms with Carruthers when he played for them, pure blonde hair and a good looking guy, he used to frequent a club up Shandwick Place called Romanos, I met him through Peter Marinello, was pretty pish player though.

[poolman]

The interest in our accounts shows the phenomenon of denial taken to unprecedented heights. It's like somebody who has fallen of a cruise ship and drowning at sea, pointing up to the other passengers and accusing them of having wet plimsols.






Well according to some plum over the road your " Hurtin " Bob


















Posted Today, 08:55
Dashing Knob Bob really is hurtin.....................NLTF
Edited by Clerry Jambo, Today, 09:00.


I can only assume it's your sides that are hurtin laughing at the goings on at the PBS

[poolman]

I was on nodding terms with Carruthers when he played for them, pure blonde hair and a good looking guy, he used to frequent a club up Shandwick Place called Romanos, I met him through Peter Marinello, was pretty pish player though.


I played against him several times through school and boys club football

He was one of the better players at that level, Firhill had a great school team, but never really made it as a pro

[truehibernian]

Heard a wee rumour the under 14's derby at the weekend has been cancelled due to Hearts not being able to afford to pay the coaches. :cb

Where you hearing that from Steve ? I'll try and confirm this tomorrow as I can run it by SFA coaches :aok:
:greengrin

[Deansy]

They'd have been as well, given the collective fitba talent.

I have a vague memory of Ernie Winchester running into a goalpost in one game. I have no vague memories of Eric Carruthers at all.

I remember Carruthers, another one they blowed that he was 'going to be special' - he wasn't. Blonde, curly hair, similar to 'Harpo Marx' - Carruthers being paid as a professional football-player was just as funny !!

Also remember Willie Gibson - he was an absolute howl !!

[SteveHFC]

Where you hearing that from Steve ? I'll try and confirm this tomorrow as I can run it by SFA coaches :aok:
:greengrin

A player

[stevejordan]

The shares are frozen and we know that the guy from BDO Was over in lith land recently and NO News has been announced it must be bad as if their even was a hint of anything god happening they would have had the propeganda machine on.
It would appear the shares are in THE DEEP FREEZE

[Seveno]

The winner of the Best Animated Feature at the 2014 Oscars was 'Frozen'.

'nuff said. :greengrin

[GreenLake]

The shares are frozen and we know that the guy from BDO Was over in lith land recently and NO News has been announced it must be bad as if their even was a hint of anything god happening they would have had the propeganda machine on.
It would appear the shares are in THE DEEP FREEZE

Exactly! Not a peep out of the Asbestos Arena.