Share Transfers Agreed/Cooling off period

[Kato]

Ok worry is the wrong word What I want to see is them get there comeuppance which IMO should be more than Administration I have no emotional investment in Hear7s apart from they are our city rivals and while I would miss that the Punishment should fit the crime .

No problem with that but "worrying" about their plight still seems OTT. Revelling in their predicament, whatever befalls them is going to be bad even if they extricate themselves from their current owners, seems ok.




If you find that sad there isn't a lot I can do about it ,but if you want to contribute your direct Debit to There fighting fund feel free .

Polarisation of arguments on the internet, whodda thunk it.


I don't remember them all standing on the away Terracing at the Hands off Hibs event and that was there chance to show Solidarity with our plight so I assume they were happy with Mercers devious ploy when Tiny Rowland had shafted us to buy hotel chains in Bristol that were going down the swanny, he set up our then out his depth chairman ,Mr Duff to have a meeting with mercer in London to help us out financially .Duff had no idea he was meeting mercer and no idea the proposal being put to him was I will help out but make Hibs extinct in the process . Now if you are asking does that make me emotional ,the answer is yes . Now maybe I should let that all go ,but in some way Liquidation would go some way to righting that wrong .Mr Duff could of sold his soul to the Devil ,but he was a Hibby at heart and held out ,and eventually was jailed for his financial wrongdoing .( so there is a moral in there) Sir Tom had to step in or we would still have been in deep trouble


Are you aware of Duff's financial wrong-doing and why he served time? The hotels etc were in Bath BTW not Bristol.

[Ozyhibby]

We can hardly look silly after telling them for years it would end in tears.

All that we can get wrong now is that they won't be liquidate.

Everything else we have predicted has come to pass. Self sufficiency; missing shares; Vlads Disappearance; Administration; more cake sales; no transfer of owner ship; missed deadlines (August, October, December, January, March) ; relegation (remember how they'd be past us by September).

I wish I was in Bulgaria, the tears of pride are welling up. Thanks to the experts on here, we have been miles in front of the media, and the Hearts rumour mill at every step.

I agree on all that. I was referring only to the frozen shares.

[Ronniekirk]

No problem with that but "worrying" about their plight still seems OTT. Revelling in their predicament, whatever befalls them is going to be bad even if they extricate themselves from their current owners, seems ok.





Polarisation of arguments on the internet, whodda thunk it.




Are you aware of Duff's financial wrong-doing and why he served time? The hotels etc were in Bath BTW not Bristol.
Was never good at geography .I stand corrected :rolleyes:

[Bostonhibby]

Ok worry is the wrong word What I want to see is them get there comeuppance which IMO should be more than Administration I have no emotional investment in Hear7s apart from they are our city rivals and while I would miss that the Punishment should fit the crime . If you find that sad there isn't a lot I can do about it ,but if you want to contribute your direct Debit to There fighting fund feel free . I don't remember them all standing on the away Terracing at the Hands off Hibs event and that was there chance to show Solidarity with our plight so I assume they were happy with Mercers devious ploy when Tiny Rowland had shafted us to buy hotel chains in Bristol that were going down the swanny, he set up our then out his depth chairman ,Mr Duff to have a meeting with mercer in London to help us out financially .Duff had no idea he was meeting mercer and no idea the proposal being put to him was I will help out but make Hibs extinct in the process . Now if you are asking does that make me emotional ,the answer is yes . Now maybe I should let that all go ,but in some way Liquidation would go some way to righting that wrong .Mr Duff could of sold his soul to the Devil ,but he was a Hibby at heart and held out ,and eventually was jailed for his financial wrongdoing .( so there is a moral in there) Sir Tom had to step in or we would still have been in deep trouble
I am not looking for them to become as extinct as a Dodo ,but The big L seems to me to be a fair cop as they say .But others that feel administration is fairer are entitled to there opinion and what will be will be . Your right I won't worry:wink:

Agree most of this especially the bit about the your average yam being pretty triumphalist about shutting us down, there weren't many sympathising with us that's for sure.

The Rowland in question was David Rowland a much nastier piece of work than tiny Rowland allegedly, we quite like his ex missus though :greengrin

[Phil D. Rolls]

Was never good at geography .I stand corrected :rolleyes:

It happens mate, don't worry about it. :wink:

:hmmm:

[greenginger]

Are you aware of Duff's financial wrong-doing and why he served time? The hotels etc were in Bath BTW not Bristol.[/QUOTE]

Duff got about 18 months for some mortgage fraud business, nothing to do with Hibs . Did time in an open prison which was pretty cushy but got struck off as a Solicitor.

[Kato]

Was never good at geography .I stand corrected :rolleyes:

...and the David Duff question?

[greenginger]

Agree most of this especially the bit about the your average yam being pretty triumphalist about shutting us down, there weren't many sympathising with us that's for sure.

The Rowland in question was David Rowland a much nastier piece of work than tiny Rowland allegedly, we quite like his ex missus though :greengrin


At least our Mr Nasty had a waterfront penthouse in Monte Carlo, unlike the Govan lot whose " wealth off the radar " Motherwell born Billionaire stayed in back street in Monte Carlo about a mile from the front. :greengrin

[Ronniekirk]

It happens mate, don't worry about it. :wink:

:hmmm:
:panic:

[Ronniekirk]

...and the David Duff question?
Check Mate :confused:

[Phil D. Rolls]

:panic:

Is that a David Duff smiley? :greengrin

[Kato]

Duff got about 18 months for some mortgage fraud business, nothing to do with Hibs . Did time in an open prison which was pretty cushy but got struck off as a Solicitor.

Correct. Too many people believing the Jambos version of this story which is that Duff and Gray were jailed for things which went on at Hibs. Total lies too cover their embarrassment at having Dot Cotton look after their finances/laundry over the years. Gray was never jailed, Duff served time for some dodgy mortgage business in Swindon a couple of years after the take-over attempt.

Which makes me wonder. Whatever happened to the Leslie Deans story? He's been charged with working for Mr Popadopoulous and not a cheep from the EEN after one story last year.

[Bostonhibby]

At least our Mr Nasty had a waterfront penthouse in Monte Carlo, unlike the Govan lot whose " wealth off the radar " Motherwell born Billionaire stayed in back street in Monte Carlo about a mile from the front. :greengrin

:agree: Hibs class shyster :greengrin, who also had a boat moored at Southampton I believe, was allegedly visited by some hibbies who obviously had a boating background.

Done well for himself since mind.http://www.theguardian.com/politics/2010/aug/19/david-rowland-conservative-treasurer-quits

[Ronniekirk]

Is that a David Duff smiley? :greengrin
No it's me with a map trying to find Bristol :greengrin

[Ronniekirk]

No it's me with a map trying to find Bristol :greengrin
Or was it Bath :greengrin

[Phil D. Rolls]

No it's me with a map trying to find Bristol :greengrin


Or was it Bath :greengrin

So what about David Duff?
:confused:

[AndyB_70]

Meeting delayed. Oh that's terrible news. The poor wee YAMs must be getting worried.

[CropleyWasGod]

They definitely appear to have changed this to BIDCO. The original CVA said FoH but since Budge was unveiled they have only talked of BIDCO. Maybe this is a straightforward change?

Wouldn't have thought so.

The CVA was proposed in FOH's name, and I can't see that that could be changed. I suspect it's just lazy journalism and they're not as pedantic as me :wink:

[CropleyWasGod]

Meeting delayed. Oh that's terrible news. The poor wee YAMs must be getting worried.

This is the bit I don't get.

Has it actually been delayed? The UKIO admin said it would probably take place "next week". The 7th is a week on Monday.

Was it ever going to happen next week? If it was, what difference does a couple of days make?

Bit of non-news, IMO.

[JeMeSouviens]

It's what I think as well but only based on the opinions on here, one Bloomberg article and a few references to Portsmouth.
I'm surprised at the complete silence on the issue from anyone connected with Hearts including BDO. This little Jambo omertà means that I can't be sure that they have not had assurances from people in Lithuania that achieving the CVA will be enough to unlock the freezer. BDO appear to be making more progress than many on here predicted.

Agree with that. I wouldn't be surprised if there's a bit of behind the scenes stitching up going on. Any money recovered from the Yams goes to UKIO and ultimately the Lithuanian state bank bail out fund. Most money recovered from UBIG will end up the same. Since they seem to have decided to take the £2.5M for a quick and easy transaction, it suits all parties to make it as quick and easy as possible. There is obviously still the possibility the courts will block everything anyway but it does seem that 29.9% of UBIG's holding has found its way to UKIO control. How does that square with the freezer theory?

[Phil D. Rolls]

I agree on all that. I was referring only to the frozen shares.

:aok:

[CropleyWasGod]

Agree with that. I wouldn't be surprised if there's a bit of behind the scenes stitching up going on. Any money recovered from the Yams goes to UKIO and ultimately the Lithuanian state bank bail out fund. Most money recovered from UBIG will end up the same. Since they seem to have decided to take the £2.5M for a quick and easy transaction, it suits all parties to make it as quick and easy as possible. There is obviously still the possibility the courts will block everything anyway but it does seem that 29.9% of UBIG's holding has found its way to UKIO control. How does that square with the freezer theory?

UKIO had 29.9% of the HMFC shares pre-admin. They've had that for a long time, before the Court order.

[Ronniekirk]

So what about David Duff?
:confused:
You know more about him than me so no point in me adding to the Mythology:rolleyes:

[JeMeSouviens]

Has anyone got a list of thier top 10 earners just to remind ourselves of how outwith thier means they were living and what was the most we ever paid ,was it five grand a week ? To Sauzee

According to this:

http://www.heraldscotland.com/sport/spl/aberdeen/sauzee-still-on-the-hibs-payroll-1.143001

£6K per week for Sauzée.

I think Craig Gordon was their highest earner, at c £18K per week.

[Phil D. Rolls]

You know more about him than me so no point in me adding to the Mythology:rolleyes:

I think there are tribes in Papua New Guinea, with no electricity and a literacy rate of 0.8% that know more about Mr. Duff than you do Ronnie. :greengrin

Read this http://www.hibs.net/archive/index.php/t-237713.html .

It's what sets us apart from the Jambos, willingness to face up to our mistakes.

[JeMeSouviens]

UKIO had 29.9% of the HMFC shares pre-admin. They've had that for a long time, before the Court order.

Ok, that would explain it, thanks.

[Kato]

You know more about him than me so no point in me adding to the Mythology:rolleyes:

Yeah, but you already attempted to add to it.

[StevieC]

UKIO had 29.9% of the HMFC shares pre-admin. They've had that for a long time, before the Court order.

What about the 15% held by VR's neice (?), does that have any affect on proceedings? Does the CVA also need those shares or would it mean that a relative of VR would have 15% in HoMFC after a successful CVA?

[Glesgahibby]

[QUOTE=Filled Rolls;3943660]We can hardly look silly after telling them for years it would end in tears.

All that we can get wrong now is that they won't be liquidate.

Everything else we have predicted has come to pass. Self sufficiency; missing shares; Vlads Disappearance; Administration; more cake sales; no transfer of owner ship; missed deadlines (August, October, December, January, March) ; relegation (remember how they'd be past us by September).

if they avoid Liquidation, we can look forward to many more predictions coming true. Their struggle living within their means, the slow progress out of the Championship, the struggle to fix their death trap stadium, the relocation to Livingston, the drop down the leagues, sponsorship by Shandon Fags and Mags, the car boot sales and open air market at the PBS, the attendances of 45,000 at Saughton Enclosure, the pathetic pleas to Edinburgh City Council, LRT buses being painted green etc.

I wish I was in Bulgaria, the tears of pride are welling up. Thanks to the experts on here, we have been miles in front of the media, and the Hearts rumour mill at every step.[/QUOTE
post of the day(so far):top marks
Its worth poining out that so far we have been weeks/months ahead of the media.
i will say again"this thread is the only truthful document of there downfall"
:hibees

[AinsterHibs]

:not worth
[QUOTE=Filled Rolls;3943660]We can hardly look silly after telling them for years it would end in tears.

All that we can get wrong now is that they won't be liquidate.

Everything else we have predicted has come to pass. Self sufficiency; missing shares; Vlads Disappearance; Administration; more cake sales; no transfer of owner ship; missed deadlines (August, October, December, January, March) ; relegation (remember how they'd be past us by September).

if they avoid Liquidation, we can look forward to many more predictions coming true. Their struggle living within their means, the slow progress out of the Championship, the struggle to fix their death trap stadium, the relocation to Livingston, the drop down the leagues, sponsorship by Shandon Fags and Mags, the car boot sales and open air market at the PBS, the attendances of 45,000 at Saughton Enclosure, the pathetic pleas to Edinburgh City Council, LRT buses being painted green etc.

I wish I was in Bulgaria, the tears of pride are welling up. Thanks to the experts on here, we have been miles in front of the media, and the Hearts rumour mill at every step.[/QUOTE
post of the day(so far):top marks
Its worth poining out that so far we have been weeks/months ahead of the media.
i will say again"this thread is the only truthful document of there downfall"
:hibees

[CropleyWasGod]

What about the 15% held by VR's neice (?), does that have any affect on proceedings? Does the CVA also need those shares or would it mean that a relative of VR would have 15% in HoMFC after a successful CVA?

Not sure that it does, TBH.

The CVA, IIRC, is for a controlling interest; having UKIO's and UBIG's shares would get that.

[Dashing Bob S]

This is the bit I don't get.

Has it actually been delayed? The UKIO admin said it would probably take place "next week". The 7th is a week on Monday.

Was it ever going to happen next week? If it was, what difference does a couple of days make?

Bit of non-news, IMO.

It's just another factor in the astonishing 'complexity' of the situation with those Lithuanians, how they can just cancel - on a whim - meetings that they never knew anything about.

[Onion]

Looks like every bit of this procedure is going to be carried out before we find out if the frozen shares is an issue.
I don't expect there to be any problem for them getting the CVA ratified by Ukio and Ubig other than the time it takes to have all the appropriate meetings. On this, you would have to say BDO have done a fine job as it appears to be happening quite quickly now.
Then it will be down to the frozen shares.
Whichever way it goes, one set of fans is going to look a bit silly.
At least for us that's the worst that can happen.

Well it won't be Hibs fans.

This is the boiled frog analogy. If you went back just 18 months ago and showed the Yams a picture of where they are today, they would have dismissed that as a Hobo wet-dream, a complete fantasy. Jees, just 6 months ago, we, they and most everyone else thought they would escape relegation (despite the 15 point deduction). 6 months ago they were talking about being out of Admin in time for Christmas and signing Rudi and some top players to take the league by storm.

Today, the end of MARCH, and they are still stuck in Admin, guaranteed to be RELEGATED, almost out of money, no new signings, cannot sell Season Tickets, and in genuine danger of being relegated by HIBS - the team the supposedly killed off two years ago. This is a Yam nightmare, despite their bravado, 5-1, 1902.

[JeMeSouviens]

What about the 15% held by VR's neice (?), does that have any affect on proceedings? Does the CVA also need those shares or would it mean that a relative of VR would have 15% in HoMFC after a successful CVA?

I don't think there's any particular effect on the CVA. I think if they get hold of more than 30% of the company, they are legally bound to offer all other shareholders the same price and if they get hold of 90%, the other shareholders are bound to accept. At 85% though, I think Olga could be left with her holding if she so chooses.

[Phil D. Rolls]

Well it won't be Hibs fans.

This is the boiled frog analogy. If you went back just 18 months ago and showed the Yams a picture of where they are today, they would have dismissed that as a Hobo wet-dream, a complete fantasy. Jees, just 6 months ago, we, they and most everyone else thought they would escape relegation (despite the 15 point deduction). 6 months ago they were talking about being out of Admin in time for Christmas and signing Rudi and some top players to take the league by storm.

Today, the end of MARCH, and they are still stuck in Admin, guaranteed to be RELEGATED, almost out of money, no new signings, cannot sell Season Tickets, and in genuine danger of being relegated by HIBS - the team the supposedly killed off two years ago. This is a Yam nightmare, despite their bravado, 5-1, 1902.

Despite the gallows humour of some of KBs diehards (let's take inflatable Scottish Cups, haw haw), the Yam on the street will finally appreciate the full horror of their demise on Sunday.

My guess is that nothing will shut the Hibs fans up. The game is an irrelevance, what's more significant is that they team they ended forever will be there to wave them off on their great adventure.

[JeMeSouviens]

Well it won't be Hibs fans.

This is the boiled frog analogy. If you went back just 18 months ago and showed the Yams a picture of where they are today, they would have dismissed that as a Hobo wet-dream, a complete fantasy. Jees, just 6 months ago, we, they and most everyone else thought they would escape relegation (despite the 15 point deduction). 6 months ago they were talking about being out of Admin in time for Christmas and signing Rudi and some top players to take the league by storm.

Today, the end of MARCH, and they are still stuck in Admin, guaranteed to be RELEGATED, almost out of money, no new signings, cannot sell Season Tickets, and in genuine danger of being relegated by HIBS - the team the supposedly killed off two years ago. This is a Yam nightmare, despite their bravado, 5-1, 1902.

:agree:

Bang on. Sickbag may be full of surreal nonsense but in real life the Yams I know stopped wanting to talk about football months ago.

[Ozyhibby]

Well it won't be Hibs fans.

This is the boiled frog analogy. If you went back just 18 months ago and showed the Yams a picture of where they are today, they would have dismissed that as a Hobo wet-dream, a complete fantasy. Jees, just 6 months ago, we, they and most everyone else thought they would escape relegation (despite the 15 point deduction). 6 months ago they were talking about being out of Admin in time for Christmas and signing Rudi and some top players to take the league by storm.

Today, the end of MARCH, and they are still stuck in Admin, guaranteed to be RELEGATED, almost out of money, no new signings, cannot sell Season Tickets, and in genuine danger of being relegated by HIBS - the team the supposedly killed off two years ago. This is a Yam nightmare, despite their bravado, 5-1, 1902.

I agree, I was referring only to the specific issue of the frozen shares.

[Ozyhibby]

:agree:

Bang on. Sickbag may be full of surreal nonsense but in real life the Yams I know stopped wanting to talk about football months ago.

Apart from their demise, I've stopped talking about football as well.
:-(

[Pray4Marc]

AllisBarry has spoken

UBIG creditors' meeting now due 7 April for vote on #Hearts (https://twitter.com/search?q=%23Hearts&src=hash) share transfer. Ukio creditors meet Friday but Ukio already approved CVA in Nov.


Borthwick will be tweeting more lies today as well.

[Phil D. Rolls]

AllisBarry has spoken

UBIG creditors' meeting now due 7 April for vote on #Hearts (https://twitter.com/search?q=%23Hearts&src=hash) share transfer. Ukio creditors meet Friday but Ukio already approved CVA in Nov.


Borthwick will be tweeting more lies today as well.

Rubber Stamps all round! Good to see Barry has given up on the idea of sourcing his own material though.

[Dashing Bob S]

:agree:

Bang on. Sickbag may be full of surreal nonsense but in real life the Yams I know stopped wanting to talk about football months ago.

This. My neighbour is the most deluded Yam you'll ever meet but even he opted out of the Pricksack fantasy orgy several weeks ago. Confessed to me that he took a quick the other week and 'cringed' at the nonsense on display.

Like going into a bar in San Francisco's Tenderloin district and listening to a bunch of old jakies untreated for post traumatic stress, slavering nonsense about Vietnam.

[crewetollhibee]

Despite the gallows humour of some of KBs diehards (let's take inflatable Scottish Cups, haw haw), the Yam on the street will finally appreciate the full horror of their demise on Sunday.

My guess is that nothing will shut the Hibs fans up. The game is an irrelevance, what's more significant is that they team they ended forever will be there to wave them off on their great adventure.

Not so much waving them off on their great adventure, more like the football equivalent of standing on the dockside at Southampton as the Titanic slips over the horizon.........

[Phil D. Rolls]

Not so much waving them off on their great adventure, more like the football equivalent of standing on the dockside at Southampton as the Titanic slips over the horizon.........

Try not to spook them. They really believe they are going for a shower. A stampede could be messy.

[Sanger]

:agree:

Bang on. Sickbag may be full of surreal nonsense but in real life the Yams I know stopped wanting to talk about football months ago.

More like years!

[greenginger]

AllisBarry has spoken

UBIG creditors' meeting now due 7 April for vote on #Hearts (https://twitter.com/search?q=%23Hearts&src=hash) share transfer. Ukio creditors meet Friday but Ukio already approved CVA in Nov.


Borthwick will be tweeting more lies today as well.

Can someone not tell AllisBarry that there is a difference between the Lithuanian Admin. for Ukio Bankas negotiating a CVA with BDO, and the Ukio creditors who do the actual approving of the CVA.

They may approve it, then again they may not , we can only wait and see.

[Jack]

This is the bit I don't get.

Has it actually been delayed? The UKIO admin said it would probably take place "next week". The 7th is a week on Monday.

Was it ever going to happen next week? If it was, what difference does a couple of days make?

Bit of non-news, IMO.

I think it just illustrates the utter confusion of all that's going on there.


This. My neighbour is the most deluded Yam you'll ever meet but even he opted out of the Pricksack fantasy orgy several weeks ago. Confessed to me that he took a quick the other week and 'cringed' at the nonsense on display.

Like going into a bar in San Francisco's Tenderloin district and listening to a bunch of old jakies untreated for post traumatic stress, slavering nonsense about Vietnam.

Do you mean the Edinburgh Castle bar :faf:

[hibbymick]

3 jambos in my work cancelled their direct Debits last week , they are gonna be financially sound under budge apparantly.

[Seveno]

I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.

[Ozyhibby]

Can someone not tell AllisBarry that there is a difference between the Lithuanian Admin. for Ukio Bankas negotiating a CVA with BDO, and the Ukio creditors who do the actual approving of the CVA.

They may approve it, then again they may not , we can only wait and see.
I would be shocked and stunned if they go against the advice of the admin. They will get it through.
It's all down to the frozen shares now.

[EK_Hibs]

I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.

Agreed

[Waxy]

I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.

Ditto

[Ozyhibby]

I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.

That's the bottom line. All we have is a year old bloomberg article. We will just have to wait and see.

[Coco Bryce]

3 jambos in my work cancelled their direct Debits last week , they are gonna be financially sound under budge apparantly.

I know a couple who have cancelled lately after relentless grief from their wives :greengrin

[Leithenhibby]

I would be shocked and stunned if they go against the advice of the admin. They will get it through.
It's all down to the frozen shares now.

Think we all knew it was coming down to this, thanks to the experts on :hnet:

Sit back and stick the beers in the fridge. It's win,win :wink:

[greenginger]

I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.


Its not so much as the shares being frozen or unfrozen, more like how easily the UBIG admininistrator can deal with them.

He/She is an appointee of the Lith. Court so it may be a simple application and a rubber stamp, then again it might not be that easy :confused:

[Mikey]

Well it won't be Hibs fans.

This is the boiled frog analogy. If you went back just 18 months ago and showed the Yams a picture of where they are today, they would have dismissed that as a Hobo wet-dream, a complete fantasy. Jees, just 6 months ago, we, they and most everyone else thought they would escape relegation (despite the 15 point deduction). 6 months ago they were talking about being out of Admin in time for Christmas and signing Rudi and some top players to take the league by storm.

Today, the end of MARCH, and they are still stuck in Admin, guaranteed to be RELEGATED, almost out of money, no new signings, cannot sell Season Tickets, and in genuine danger of being relegated by HIBS - the team the supposedly killed off two years ago. This is a Yam nightmare, despite their bravado, 5-1, 1902.

Indeed. There seems to be a black or white situation developing here. If they're not liquidated then they've got away with it, and there's no middle ground.

[Dashing Bob S]

I think it just illustrates the utter confusion of all that's going on there.



Do you mean the Edinburgh Castle bar :faf:

EC wasn't too bad when I was last in there, though that was a few years ago now. Harrington's was always a very colourful experience, but you needed a few inside before venturing in there.

[Springbank]

Can someone not tell AllisBarry that there is a difference between the Lithuanian Admin. for Ukio Bankas negotiating a CVA with BDO, and the Ukio creditors who do the actual approving of the CVA.

They may approve it, then again they may not , we can only wait and see.

Woah, this looks like an Amber light to me

AllisBarry is only interested in green lights & rubber stamps

All very complex

[Weststandwanab]

Eh?
The big L is the end. There is no way back from it. Newco is coming.


It's what I think as well but only based on the opinions on here, one Bloomberg article and a few references to Portsmouth.
I'm surprised at the complete silence on the issue from anyone connected with Hearts including BDO. This little Jambo omertà means that I can't be sure that they have not had assurances from people in Lithuania that achieving the CVA will be enough to unlock the freezer. BDO appear to be making more progress than many on here predicted. I think they have made good progress but as about as much progress as the can without the Micro Wave.


I don't think there's any particular effect on the CVA. I think if they get hold of more than 30% of the company, they are legally bound to offer all other shareholders the same price and if they get hold of 90%, the other shareholders are bound to accept. At 85% though, I think Olga could be left with her holding if she so chooses. That applies only to publically quoted Companies.

Otherwise it is 95%.

[brog]

EC wasn't too bad when I was last in there, though that was a few years ago now. Harrington's was always a very colourful experience, but you needed a few inside before venturing in there.

Ah, Harringtons on Embarcadero, many happy hours spent there. Right next to The Royal Exchange, known in SF as The Body Exchange due to the Friday night shenanigans!

Separately an earlier poster commented about how David ( spotty ) Rowland's wife Sheila had helped save Hibs. Quite correct though I think her loathing for her husband then may have had more to do with him having fathered a child by another woman rather than any love for Hibs! She was however disgusted at Rowland's actions, (how much money does one person need?) & she was genuinely touched by our plight.

[Jim44]

I would be shocked and stunned if they go against the advice of the admin. They will get it through.
It's all down to the frozen shares now.

If the shares are still frozen, what's the point of UBIG giving their blessing next week? Is it possible that freezer was 'faulty' and the shares have defrosted to the point where they can be moved on?

[CropleyWasGod]

If the shares are still frozen, what's the point of UBIG giving their blessing next week? Is it possible that freezer was 'faulty' and the shares have defrosted to the point where they can be moved on?

I can give my blessing to you buying my house if I want.

However, if there is an inhibition on the sale of the house, you can't have it.

[Weststandwanab]

If the shares are still frozen, what's the point of UBIG giving their blessing next week? Is it possible that freezer was 'faulty' and the shares have defrosted to the point where they can be moved on? So they appear to the Famous to being "helpful" and when the big L looms they can hold their hands up and say "It wasnae us"

In Lithuanian obviously.

[ehf]

Despite the gallows humour of some of KBs diehards (let's take inflatable Scottish Cups, haw haw), the Yam on the street will finally appreciate the full horror of their demise on Sunday.

My guess is that nothing will shut the Hibs fans up. The game is an irrelevance, what's more significant is that they team they ended forever will be there to wave them off on their great adventure.

Disagree with that; all they need to do to shut us up is to beat us, and they almost certainly will.

[Leithenhibby]

Disagree with that; all they need to do to shut us up is to beat us, and they almost certainly will.



Much! :greengrin

We will do them I'm sure, as sure as I can be...............

[Killiehibbie]

I can give my blessing to you buying my house if I want.

However, if there is an inhibition on the sale of the house, you can't have it.
Would your creditors allow me to buy it for a fraction of its value?

[Ozyhibby]

Disagree with that; all they need to do to shut us up is to beat us, and they almost certainly will.

Your a cheery soul. :-)
Although my own confidence is at new low going into this derby I'm still hopefull.

[Waxy]

Disagree with that; all they need to do to shut us up is to beat us, and they almost certainly will.

Naaaaaaaaaaah

[Onion]

Rubber Stamps all round! Good to see Barry has given up on the idea of sourcing his own material though.

:tee hee:

[Phil D. Rolls]

So they appear to the Famous to being "helpful" and when the big L looms they can hold their hands up and say "It wasnae us"

In Lithuanian obviously.

Nobody kicks a dead dog.

[Ozyhibby]

Would your creditors allow me to buy it for a fraction of its value?

Yes. Houses that have been repossessed are usually sold on at a fraction of the value. The bank are not lying when they say they don't want to repossess your house. And when they do they want shot of it as quick as possible.

[Killiehibbie]

Yes. Houses that have been repossessed are usually sold on at a fraction of the value. The bank are not lying when they say they don't want to repossess your house. And when they do they want shot of it as quick as possible.
Is this not usually at auction on the open market?

[Ozyhibby]

Is this not usually at auction on the open market?

Not always.

[CropleyWasGod]

Would your creditors allow me to buy it for a fraction of its value?

Whether they did or not, if there's an inhibition on it, you can't.

(BTW, the UBIG creditors aren't being asked if they want to sell the PBS at a fraction of its worth.)

[angus hibee]

I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.

Is it possible our 'experts' have missed something. It has been a fairly mild winter.

[GreenLake]

Whether they did or not, if there's an inhibition on it, you can't.

(BTW, the UBIG creditors aren't being asked if they want to sell the PBS at a fraction of its worth.)

There is nothing else on the agenda than the CVA, according to Gintaras, making it look like there isn't an option to auction off the PBS and raise £22 million less the amount the market has fallen in the last few years.

[Geo_1875]

There is nothing else on the agenda than the CVA, according to Gintaras, making it look like there isn't an option to auction off the PBS and raise £22 million less the amount the market has fallen in the last few years.

I find it hard to believe that they have scheduled a meeting simply to rubber-stamp the FoH CVA offer. Is this a full creditors meeting?

[Phil D. Rolls]

Samuel Goldfish asks:



Can you really categorise this as a delay when it's part of the process and probably came as a shock to nobody other than the journo writing that article for the Scotsman?


Fed up with their ridiculous headlines tbh. They just about never ever match the gist of the content these days.


Well Sam it depends. Y'see it's all down to how you define "delay".

if you expected to be out of admin by the start of this season, you might well see this as a delayed meeting.

Likewise, if you thought you'd be signing players in January, it's also a delay.

However, if you were under the impression that Mrs. Budge would be in charge by the end of March, then delay is maybe a bit too strong.

I prefer to use the expression "hold up".

Its all about perspective. And on a positive note, if you didn't expect to be out of administration before next season, Christmas has come early.

But not for your kids. Don't you feel guilty about telling them your family is Jewish now?

I suppose it's how you define guilt. Your club is Cattle Trucked by the way.

[HUTCHYHIBBY]

I can give my blessing to you buying my house if I want.

However, if there is an inhibition on the sale of the house, you can't have it.

Ah, takes me back to my Registers of Scotland days @ MBH!

[carnoustiehibee]

This is a quote from Keyser Soze about Barry Anderson

"The big trick the devil ever pulled was convincing the jambos everything would be ok"

[WindyMiller]

Try not to spook them. They really believe they are going for a shower. A stampede could be messy.

This must be e real thread now!

You've invoked Godwin's Law.

[Caversham Green]

I find it hard to believe that they have scheduled a meeting simply to rubber-stamp the FoH CVA offer. Is this a full creditors meeting?

My guess is that it's the first meeting of the creditors committee that was elected at the last full creditors meeting. If that is the case they are likely to consider the issues surrounding Ukio's demise very broadly and The Famous are unlikely to get much air time unless BDO have managed to get them fast-tracked.

I think the point of the administrator's comment was that there was no counter-proposal to the CVA on the agenda, however that may come during the meeting itself. Time will tell.

[Brunswickbill]

Is it possible our 'experts' have missed something. It has been a fairly mild winter.
http://www.lithuaniatribune.com/34278/lithuanian-court-freezes-romanovs-assets-201334278/

http://web.orange.co.uk/article/sports/romanov_assets_frozen_by_court

[CropleyWasGod]

My guess is that it's the first meeting of the creditors committee that was elected at the last full creditors meeting. If that is the case they are likely to consider the issues surrounding Ukio's demise very broadly and The Famous are unlikely to get much air time unless BDO have managed to get them fast-tracked.

I think the point of the administrator's comment was that there was no counter-proposal to the CVA on the agenda, however that may come during the meeting itself. Time will tell.

I'm coming round to that conclusion myself, Cav. The lack of public notice kinda confirms that. The UKIO admin is being a bit opaque when he says "creditors", when it's not really.

They may have a different way of doing things in Lithuania, of course, but for UK insolvencies, I've posted below what a CC normally does. (I know you know this, Cav... it's no for you. :greengrin)

The principal functions of the committee are to sanction the exercise of certain of the trustee or liquidator’s powers and to fix his remuneration.

In addition to its statutory functions the committee may also serve to assist the trustee/ liquidator generally and act as a sounding board for him to obtain views on matters pertaining to the bankruptcy or liquidation.

[HappyAsHellas]

I'm somewhat confused by all the financial comings and goings in this sordid little maroon tinged saga. As I understand it the Fools of Hearts all pay £175 per annum which comes to 1.4 million, which at today's running costs covers the yams for about 3 months. This being the case does that mean that budgie will have to front £4.2 million along with the Fools just to have them running for a year?
On top of this I presume the creditors will want the £2 million up front for the PBS. So before buying another top player like Nade they'll have to fork out more than £6 million just to survive a year?
If this is the case, why do some people seem concerned about the big L? I gather some will view it as the icing on the cake but given that they'll be condemned to whist drives and tombola's to keep breathing for the next few seasons, what is all the fuss about?
Oh, the sad deluded fools over on Brokeback are discussing the board and the role of Fools in the appointment of the future board. One naive little moron actually posted that they "don't want to be run like amateurs" Oh, you couldn't make it up.....

[EK_Hibs]

Is it possible our 'experts' have missed something. It has been a fairly mild winter.

I don't believe anyone's missed anything and we've probably gone over this already. But I remain concerned that the freezer will remain plugged in. The courts froze these shares but the courts also appointed administrators to do a job. Hence my concerns.

[CropleyWasGod]

I'm somewhat confused by all the financial comings and goings in this sordid little maroon tinged saga. As I understand it the Fools of Hearts all pay £175 per annum which comes to 1.4 million, which at today's running costs covers the yams for about 3 months. This being the case does that mean that budgie will have to front £4.2 million along with the Fools just to have them running for a year?
On top of this I presume the creditors will want the £2 million up front for the PBS. So before buying another top player like Nade they'll have to fork out more than £6 million just to survive a year?
If this is the case, why do some people seem concerned about the big L? I gather some will view it as the icing on the cake but given that they'll be condemned to whist drives and tombola's to keep breathing for the next few seasons, what is all the fuss about?
Oh, the sad deluded fools over on Brokeback are discussing the board and the role of Fools in the appointment of the future board. One naive little moron actually posted that they "don't want to be run like amateurs" Oh, you couldn't make it up.....

I believe she's putting up £3.5m upfront. £2.5m for the purchase, and £1m for working capital.

Then a further £1.4m a season for 2 seasons.

[Leithenhibby]

I believe she's putting up £3.5m upfront. £2.5m for the purchase, and £1m for working capital.

Then a further £1.4m a season for 2 seasons.

So, they'er quids in!.... :wink:

[Brunswickbill]

http://www.hmsa.org.uk/news/4553935261
Q&A. With Iwasanmp should be entertaining if unenlightening.

[CropleyWasGod]

I don't believe anyone's missed anything and we've probably gone over this already. But I remain concerned that the freezer will remain plugged in. The courts froze these shares but the courts also appointed administrators to do a job. Hence my concerns.

The issue is whether the administrator has the power to sell the assets.

He has "possession" of them, but that doesn't mean he "owns" them. Going back to my house analogy, I can have possession of it, and I might even own it, but I don't necessarily have the power to sell it.

Of course, we're all farting around here trying to get to the bottom of Lith law. It would be very handy if one of Her Majesty's Press would pick up a phone and bloody ask someone. :rolleyes:

[HappyAsHellas]

Forgive my stupidity in this matter but if that's what she's putting in over 2 years, and the Fools put in £2.8 million that will only give a total of £6.6 million. If their running costs are 94k per week as was quoted on here somewhere, that leaves a shortfall of over £3 million over 2 years. I know nothing about running a business but I think I detect a little problem here.

[Spike Mandela]

http://www.lithuaniatribune.com/34278/lithuanian-court-freezes-romanovs-assets-201334278/

http://web.orange.co.uk/article/sports/romanov_assets_frozen_by_court

The only articles stating this were all a year ago. The current status of the shares is uncertain.

[CropleyWasGod]

Forgive my stupidity in this matter but if that's what she's putting in over 2 years, and the Fools put in £2.8 million that will only give a total of £6.6 million. If their running costs are 94k per week as was quoted on here somewhere, that leaves a shortfall of over £3 million over 2 years. I know nothing about running a business but I think I detect a little problem here.

£6.3 m :)

You forgot about other income. ST and walk-up sales, TV income, etc etc

The running costs you mention were probably for their current SPFL status. They will have to cut their cloth in The Championship.

[Ozyhibby]

Forgive my stupidity in this matter but if that's what she's putting in over 2 years, and the Fools put in £2.8 million that will only give a total of £6.6 million. If their running costs are 94k per week as was quoted on here somewhere, that leaves a shortfall of over £3 million over 2 years. I know nothing about running a business but I think I detect a little problem here.

They will still have their season ticket and matchday revenues.

[GreenLake]

They will wish they had gone through liquidation in a couple of seasons time.

[Phil D. Rolls]

This must be e real thread now!

You've invoked Godwin's Law.

You can read what you want into my statement. All I said was they think they're going for a shower. Any similarity to the Nazis and their work camps is inferred by the reader. :whistle:

[monktonharp]

Looks like every bit of this procedure is going to be carried out before we find out if the frozen shares is an issue.
I don't expect there to be any problem for them getting the CVA ratified by Ukio and Ubig other than the time it takes to have all the appropriate meetings. On this, you would have to say BDO have done a fine job as it appears to be happening quite quickly now.
Then it will be down to the frozen shares.
Whichever way it goes, one set of fans is going to look a bit silly.
At least for us that's the worst that can happen. sorry, but I need to take exception to your last quote here. there IS only one set of fans that already look silly, on this case, and it certainly isnae US. the gorgie mob were the ones that were saying: overtake them by November, out of admin by xmas, definitely not going to be relegated, starting off with no debt etc etc and yet they are still hanging on a thread, tottering on the brink, and the ground is giving way on the edge of the abyss as we speak. still in admin, still waiting on shares defrosting, still forgetting the money problems ahead , still using a ramshackle main stand( which no one can understand has still got a valid certificate for safety) still to repay all the money to football matters before they get a league liscence when out of admin.......aye, I can see your point, good chance of us looking rather silly if it all goes so sweetly from now on, for the big team:rolleyes:

[SmashinGlass]

The only articles stating this were all a year ago. The current status of the shares is uncertain.

Alternatively, the fact that we've heard nothing on the matter since then may suggest nothing has substantially changed. The case of Portsmouth is particularly relevant here.

[Waxy]

Even if they get out of admin, they most likely still have a horrific future compaired to thier past.
The darkest days are coming for them now.

[Waxy]

Even if they get out of admin, they most likely still have a horrific future compaired to thier past.
The darkest days are coming for them now.wow that was a bit dramatic from me.But hey ho.

[CropleyWasGod]

Alternatively, the fact that we've heard nothing on the matter since then may suggest nothing has substantially changed. The case of Portsmouth is particularly relevant here.

Do you know if Birch actually tried to get the Portsmouth shares unfrozen? Or did the different approach to liquidated clubs in England mean that it was less of an issue?

[Weststandwanab]

Do you know if Birch actually tried to get the Portsmouth shares unfrozen? Or did the different approach to liquidated clubs in England mean that it was less of an issue? From memory he did try and after a few failed attempts "Newco is the only option" was the outcome.

I think this could possibly be the case here to.

[joe breezy]

sorry, but I need to take exception to your last quote here. there IS only one set of fans that already look silly, on this case, and it certainly isnae US. the gorgie mob were the ones that were saying: overtake them by November, out of admin by xmas, definitely not going to be relegated, starting off with no debt etc etc and yet they are still hanging on a thread, tottering on the brink, and the ground is giving way on the edge of the abyss as we speak. still in admin, still waiting on shares defrosting, still forgetting the money problems ahead , still using a ramshackle main stand( which no one can understand has still got a valid certificate for safety) still to repay all the money to football matters before they get a league liscence when out of admin.......aye, I can see your point, good chance of us looking rather silly if it all goes so sweetly from now on, for the big team:rolleyes:

:agree:

[greenginger]

Alternatively, the fact that we've heard nothing on the matter since then may suggest nothing has substantially changed. The case of Portsmouth is particularly relevant here.


Was up in St Andrew Square this afternoon and the UBIG Asset, No.42 , is still sitting there neglected and abandoned.

No For Sale/to let signs to be seen.

What was the story with it and why no movement. Is the asset frozen maybe :cb

[CropleyWasGod]

Was up in St Andrew Square this afternoon and the UBIG Asset, No.42 , is still sitting there neglected and abandoned.

No For Sale/to let signs to be seen.

What was the story with it and why no movement. Is the asset frozen maybe :cb

Must have been selt, eh?

Saw it in the News.

[lapsedhibee]

£6.3 m :)

You forgot about other income. ST and walk-up sales, TV income, etc etc

The running costs you mention were probably for their current SPFL status. They will have to cut their cloth in The Championship.

:tsk tsk: Cut their coat (https://answers.yahoo.com/question/index?qid=20071004083736AA67DZ9)

[CropleyWasGod]

:tsk tsk: Cut their coat (https://answers.yahoo.com/question/index?qid=20071004083736AA67DZ9)

Or:-

http://wiki.answers.com/Q/What_does_the_phrase_Cut_the_cloth_mean?#slide=2

This thread has everything. :greengrin

[Pete]

These hearts fans don't half have an over inflated sense of their own importance. To try and make out that coming out of admin would be a negative for us in any way is laughable.

To the vast, vast majority of us this is simply an amusing little side show. The best case scenario for them, which didn't happen, has no negative effect whatsoever for us. Their worst case scenario would amuse us so it's been worth tuning in all these months.

Arrogance due to insecurity. They know what they are now.

[Tynie01011973]

I believe she's putting up £3.5m upfront. £2.5m for the purchase, and £1m for working capital.

Then a further £1.4m a season for 2 seasons.

Pretty sure AB is only putting up £2.5m with FoH putting in the additional £1m in the first year - to cover football debts/running costs

:wink:

[CropleyWasGod]

Pretty sure AB is only putting up £2.5m with FoH putting in the additional £1m in the first year - to cover football debts/running costs

:wink:

Yeah, you're right.

FOH have to find £6.3m in total.

http://www.foundationofhearts.org/category/uncategorized/

[jacomo]

From memory he did try and after a few failed attempts "Newco is the only option" was the outcome.

I think this could possibly be the case here to.

Yes, this was discussed a while back on here. As I recall, Portsmouth FC were allowed to keep their existing League position because the creditors were all in agreement with the formation of a newco.

If Hearts do go down the newco route, and if Budgie does the honourable thing and pays all the oldco's debts, then we should perhaps be generous and consider allowing them to take a place in the Championship next season.

She's got enough money, right?

This will also make the Huns *seethe* and possibly cause Swally to explode.

[Mikey]

Yes, this was discussed a while back on here. As I recall, Portsmouth FC were allowed to keep their existing League position because the creditors were all in agreement with the formation of a newco.

If Hearts do go down the newco route, and if Budgie does the honourable thing and pays all the oldco's debts, then we should perhaps be generous and consider allowing them to take a place in the Championship next season.

She's got enough money, right?

This will also make the Huns *seethe* and possibly cause Swally to explode.

Some info here......

http://www.accountancyage.com/aa/news/2262996/bdo-administrators-confirm-sale-of-portsmouth-fc

[HenryMonk]

So unless I've missed something it gone 10 pages ish without Sergey or Bajillions commenting on today's events!
Delays Delays, Frozen shares etc. There is no actual Lithuanian experts on this forum, yes granted Serg has a decent insider (or so he believes), and most of the info has correctish to some degree, and there are a few UK experts in Insolvency.
Starting to smell like they will come out of admin in the next week or 2.
Spin spin spin I hear you say! Well that's all its happens on this thread with all respect, but with green shades on.
Bajillions, will he turn out to be the ultimate double agent who has took the right C out of dotnet?

Hearts are going down, they will suffer greatly.

[JAY-ESS GREEN]

So unless I've missed something it gone 10 pages ish without Sergey or Bajillions commenting on today's events!
Delays Delays, Frozen shares etc. There is no actual Lithuanian experts on this forum, yes granted Serg has a decent insider (or so he believes), and most of the info has correctish to some degree, and there are a few UK experts in Insolvency.
Starting to smell like they will come out of admin in the next week or 2.
Spin spin spin I hear you say! Well that's all its happens on this thread with all respect, but with green shades on.
Bajillions, will he turn out to be the ultimate double agent who has took the right C out of dotnet?

Hearts are going down, they will suffer greatly.

What events?

[CropleyWasGod]

So unless I've missed something it gone 10 pages ish without Sergey or Bajillions commenting on today's events!
Delays Delays, Frozen shares etc. There is no actual Lithuanian experts on this forum, yes granted Serg has a decent insider (or so he believes), and most of the info has correctish to some degree, and there are a few UK experts in Insolvency.
Starting to smell like they will come out of admin in the next week or 2.
Spin spin spin I hear you say! Well that's all its happens on this thread with all respect, but with green shades on.
Bajillions, will he turn out to be the ultimate double agent who has took the right C out of dotnet?

Hearts are going down, they will suffer greatly.

What, exactly, are "today's events"?

We have had a couple of newspapers, not known for their incisive reporting, saying that a meeting has been "delayed". A meeting that was never confirmed by those involved, but "expected" by someone who isn't involved to be "sometime next week" is now reported as being on the first day of the following week. Not only that, those reports had no direct quotes, or named sources. Hardly big news.

Your digs at Sergey and Bajillions are unwarranted.

[Seveno]

The issue is whether the administrator has the power to sell the assets.

He has "possession" of them, but that doesn't mean he "owns" them. Going back to my house analogy, I can have possession of it, and I might even own it, but I don't necessarily have the power to sell it.

Of course, we're all farting around here trying to get to the bottom of Lith law. It would be very handy if one of Her Majesty's Press would pick up a phone and bloody ask someone. :rolleyes:

Look, are you selling your effing house or aren't you. Make up your mind and let's get back to discussing the Yams.

[Phil D. Rolls]

So unless I've missed something it gone 10 pages ish without Sergey or Bajillions commenting on today's events!
Delays Delays, Frozen shares etc. There is no actual Lithuanian experts on this forum, yes granted Serg has a decent insider (or so he believes), and most of the info has correctish to some degree, and there are a few UK experts in Insolvency.
Starting to smell like they will come out of admin in the next week or 2.
Spin spin spin I hear you say! Well that's all its happens on this thread with all respect, but with green shades on.
Bajillions, will he turn out to be the ultimate double agent who has took the right C out of dotnet?

Hearts are going down, they will suffer greatly.

Which one of you wrote this Sergey?

[hibs0666]

So unless I've missed something it gone 10 pages ish without Sergey or Bajillions commenting on today's events!
Delays Delays, Frozen shares etc. There is no actual Lithuanian experts on this forum, yes granted Serg has a decent insider (or so he believes), and most of the info has correctish to some degree, and there are a few UK experts in Insolvency.
Starting to smell like they will come out of admin in the next week or 2.
Spin spin spin I hear you say! Well that's all its happens on this thread with all respect, but with green shades on.
Bajillions, will he turn out to be the ultimate double agent who has took the right C out of dotnet?

Hearts are going down, they will suffer greatly.

I feel your pain HM.

[CropleyWasGod]

Look, are you selling your effing house or aren't you. Make up your mind and let's get back to discussing the Yams.

£29 million and it's yours.

We'll forget about the fitba debts.

[SmashinGlass]

So unless I've missed something it gone 10 pages ish without Sergey or Bajillions commenting on today's events!
Delays Delays, Frozen shares etc. There is no actual Lithuanian experts on this forum, yes granted Serg has a decent insider (or so he believes), and most of the info has correctish to some degree, and there are a few UK experts in Insolvency.
Starting to smell like they will come out of admin in the next week or 2.
Spin spin spin I hear you say! Well that's all its happens on this thread with all respect, but with green shades on.
Bajillions, will he turn out to be the ultimate double agent who has took the right C out of dotnet?

Hearts are going down, they will suffer greatly.

If they do happen to exit admin via the CVA, it'll be a hell of a lot longer than 2 weeks away. It took Dunfermline circa 3 months. This isn't over yet, not by a long shot.

[Phil D. Rolls]

I feel your pain HM.

Theyre at the Kamikaze stage.

[HenryMonk]

Meetings delayed, who cares! Who actually said when meetings were supposed to happen? No one really.
Nobody is an expert on Lithuanian insolvency on this site, fact! nor its process!

[matty_f]

Meetings delayed, who cares! Who actually said when meetings were supposed to happen? No one really.
Nobody is an expert on Lithuanian insolvency on this site, fact! nor its process!

There are a lot of experts in ripping the pish right out of yam fuds though, which is half the fun of this thread, wouldn't you say?

[JAY-ESS GREEN]

Meetings delayed, who cares! Who actually said when meetings were supposed to happen? No one really.
Nobody is an expert on Lithuanian insolvency on this site, fact! nor its process!

Don't think anyone has professed to being an expert but the named parties have a better insight into what's going on than sickback or the msm

[Phil D. Rolls]

Meetings delayed, who cares! Who actually said when meetings were supposed to happen? No one really.
Nobody is an expert on Lithuanian insolvency on this site, fact! nor its process!

Oh my god, we've got a live one. :shocked:

[Seveno]

£29 million and it's yours.

We'll forget about the fitba debts.

Presumably the house comes with a family as well 'the best kids in the UK' no doubt.

[Mikey09]

sorry, but I need to take exception to your last quote here. there IS only one set of fans that already look silly, on this case, and it certainly isnae US. the gorgie mob were the ones that were saying: overtake them by November, out of admin by xmas, definitely not going to be relegated, starting off with no debt etc etc and yet they are still hanging on a thread, tottering on the brink, and the ground is giving way on the edge of the abyss as we speak. still in admin, still waiting on shares defrosting, still forgetting the money problems ahead , still using a ramshackle main stand( which no one can understand has still got a valid certificate for safety) still to repay all the money to football matters before they get a league liscence when out of admin.......aye, I can see your point, good chance of us looking rather silly if it all goes so sweetly from now on, for the big team:rolleyes:


Ive posted a few times before about this and the reason they get a safety certificate for that bomb scare of a stand is a man named Steve Cardownie. A bomb scare of a counciler.

[Waxy]

Meetings delayed, who cares! Who actually said when meetings were supposed to happen? No one really.
Nobody is an expert on Lithuanian insolvency on this site, fact! nor its process!Haha HM.Sorrow.....sorrow.........sorrow............sor roooooooow.

[lapsedhibee]

Or:-

http://wiki.answers.com/Q/What_does_the_phrase_Cut_the_cloth_mean?#slide=2

This thread has everything. :greengrin

:thumbsup:

"To cut your neighbour's grass" :faf:

[CropleyWasGod]

Presumably the house comes with a family as well 'the best kids in the UK' no doubt.

And a holiday home in Bulgaria

[Kato]

Meetings delayed, who cares! Who actually said when meetings were supposed to happen? No one really.

You're right, it was Barry Anderson.

[Gus Fring]

Meetings delayed, who cares! Who actually said when meetings were supposed to happen? No one really.
Nobody is an expert on Lithuanian insolvency on this site, fact! nor its process!

:troll:

[Springbank]

Do you know if Birch actually tried to get the Portsmouth shares unfrozen? Or did the different approach to liquidated clubs in England mean that it was less of an issue?

If hearts fans had any guts, spine or intelligence this is the sort of question they would be asking.

Suffice to say, they are not.

[Kato]

If hearts fans had any guts, spine or intelligence this is the sort of question they would be asking.

Suffice to say, they are not.

To be fair I have seen many a Jambo with a gut.

[Springbank]

Ahhh yes I remember a front cover of mass hibsteria with a picture of "the massive hearts support"

He was indeed a large specimen no stranger to an xxxxl cardigan :)

[CropleyWasGod]

If hearts fans had any guts, spine or intelligence this is the sort of question they would be asking.

Suffice to say, they are not.

It rips my knitting that the MSM don't ask either.

[Stonewall]

It rips my knitting that the MSM don't ask either.

If the MSM were doing their jobs properly this thread would be about 10 pages long. With a couple of exceptions their performance over this and the Rangers' debacle has been abject. No wonder newspaper circulations are falling.

[CropleyWasGod]

Meetings delayed, who cares! Who actually said when meetings were supposed to happen? No one really.
Nobody is an expert on Lithuanian insolvency on this site, fact! nor its process!

Gintaras and Barry. ....that's who :-)

[Ronniekirk]

Meetings delayed, who cares! Who actually said when meetings were supposed to happen? No one really.
Nobody is an expert on Lithuanian insolvency on this site, fact! nor its process!

I don't care if meetings are cancelled but you clearly do or you wouldn't of felt the need to post this .i am no expert but that's why I come on here to find the truth.But forgot you lot are not interested in that It's not all over till the fat lady sings and when the dust settles on your team in the lower division we will be able to look back on this thread and confirm with the benefit of hindsight that some of the more prevalent posters on here were in fact right in a lot of what was said .The only question now is how long will it be to get your hands on those frozen shares ? And what price will your club have paid when trying to live within there own means .That will be something we will follow ,so don't worry we won't forget about you,but next season we will have to cancel those Derby Meetings that you penciled in .:wink:

[the_ginger_hibee]

Oh my god, we've got a live one. :shocked:

Since 2005 as well.

A commendable run.

[HUTCHYHIBBY]

Meetings delayed, who cares! Who actually said when meetings were supposed to happen? No one really.
Nobody is an expert on Lithuanian insolvency on this site, fact! nor its process!

Got your shares certificate yet?

[Dashing Bob S]

We were told the UBIG meeting was tomorrow, this time last week. It was a UKIOS admins meeting. Now the same source tells us the UBIG might be on April 7th. But might be cancelled.

If I were a Jambo I'd be finding it all a little uninspiring.

I wonder what they'll say next week?

[Eyrie]

3 jambos in my work cancelled their direct Debits last week , they are gonna be financially sound under budge apparantly.


I know a couple who have cancelled lately after relentless grief from their wives :greengrin

I think that we can all do our bit here by reminding any Yam daft enough to pledge their family's Xmas present money to Save Hearts In Trouble that, once Budge has the shares, the Yams will be in safe hands so they will only be giving money to a millionaire and not to their rancid club.

[Danderhall Hibs]

I wonder what they'll say next week?

The first division is the place to be next season. The average attendances in the first division will be bigger than the spl.

[Bostonhibby]

The first division is the place to be next season. The average attendances in the first division will be bigger than the spl.

And it must be miles better than applying to join the Lowland League. A bit of a climb down from being self sufficient and safe in the league by Xmas. Big team, big delusions.

[Bostonhibby]

Meetings delayed, who cares! Who actually said when meetings were supposed to happen? No one really.
Nobody is an expert on Lithuanian insolvency on this site, fact! nor its process!

Welcome aboard Henry, assuming you have been in a monastery and therefore unable to read all the various yam sourced deadlines that have come and gone?

Tick tock

[scoopyboy]

We were told the UBIG meeting was tomorrow, this time last week. It was a UKIOS admins meeting. Now the same source tells us the UBIG might be on April 7th. But might be cancelled.

If I were a Jambo I'd be finding it all a little uninspiring.

I wonder what they'll say next week?

We were always getting relegated from day one?

Nice wee competition you have set up guv. All answers on the back of a Hearts AGM agenda please.

[Springbank]

I think they'll stop going as they see how poor the football is that their budget can afford

But it won't be hearts fault at all, in their eyes

It'll be because "Scottish footballs finished" or somesuch

[Bostonhibby]

We were always getting relegated from day one?

Nice wee competition you have set up guv. All answers on the back of a Hearts AGM agenda please.

How about

Rejoice, we have used all of our donations to create Scotlands' first truly supporter owned club, that supporter is Anne Budge.

In another 5 years time when we have saved up enough money she might take that off us as well, but as owner it will be up to her :greengrin

[alexedwards]

Haven't been keeping up with events but an idiot on the Scotsman forum has suggested the Scandinavians have already bought the 15% hearts
shares owned by Quantum Holdings :confused: - surely this is pure nonsense? - the scandics were a bag of wind - or have I missed something?

[Phil D. Rolls]

Since 2005 as well.

A commendable run.

:agree:

[Bostonhibby]

Since 2005 as well.

A commendable run.

He's one of our own, he's one of our own, HM, he's one of their own...............

[Kojock]

12245

Yer a wag HM look how we all fell for your jolly jape yesterday.

[CropleyWasGod]

Haven't been keeping up with events but an idiot on the Scotsman forum has suggested the Scandinavians have already bought the 15% hearts
shares owned by Quantum Holdings :confused: - surely this is pure nonsense? - the scandics were a bag of wind - or have I missed something?


It's possible, but it would have been pre-admin, no?

[Rocky]

Am I the only one who thinks that the 'frozen shares' is a great big red herring? UBIG's assets were frozen when the state initiated bankruptcy proceedings against UBIG - presumably to make sure no one ran off with the assets before an adminstrator was appointed?

So I would have thought that once the state appointed admin had the assets under his control he could dispose of what he wants in an orderly fashion to benefit the creditors. What would be the point of the shares remaining frozen?

The trouble with going on about the assets being frozen is that we've become greedy - wanting them to go pop entirely instead of savouring the moment and focusing on the real harsh reality for them. I.e. that there is no 'post admin debt free' Hearts anytime soon. Not only do they have to pay back the CVA and fund working capital for years, they also need to take on debt (if anyone will lend to them) to rebuild that deathtrap main stand. Remember that our debt, that they say will kill us, was taken on to build a stand - and we've paid a big chunk of that already.

Why don't we just noise them up about the stuff that there's no ifs, buts and maybes about instead of letting them get all excited about proving us wrong by coming out of admin?

[CropleyWasGod]

Am I the only one who thinks that the 'frozen shares' is a great big red herring? UBIG's assets were frozen when the state initiated bankruptcy proceedings against UBIG - presumably to make sure no one ran off with the assets before an adminstrator was appointed?

So I would have thought that once the state appointed admin had the assets under his control he could dispose of what he wants in an orderly fashion to benefit the creditors. What would be the point of the shares remaining frozen?



Fair question. One that the MSM could answer with one phone call. While they're at it, they could also ask what the difference is with the Portsmouth case.

Will they?

:rolleyes:

[Bostonhibby]

Am I the only one who thinks that the 'frozen shares' is a great big red herring? UBIG's assets were frozen when the state initiated bankruptcy proceedings against UBIG - presumably to make sure no one ran off with the assets before an adminstrator was appointed?

So I would have thought that once the state appointed admin had the assets under his control he could dispose of what he wants in an orderly fashion to benefit the creditors. What would be the point of the shares remaining frozen?

The trouble with going on about the assets being frozen is that we've become greedy - wanting them to go pop entirely instead of savouring the moment and focusing on the real harsh reality for them. I.e. that there is no 'post admin debt free' Hearts anytime soon. Not only do they have to pay back the CVA and fund working capital for years, they also need to take on debt (if anyone will lend to them) to rebuild that deathtrap main stand. Remember that our debt, that they say will kill us, was taken on to build a stand - and we've paid a big chunk of that already.

Why don't we just noise them up about the stuff that there's no ifs, buts and maybes about instead of letting them get all excited about proving us wrong by coming out of admin?

In a parallel universe you may well be right, problem is that the one big fact in all of this remains that the shares that are needed for the biggest heist in many years were legally frozen and they do remain so.We didn't make that part up and the yam don't seem to want to address it, it's coming though.

Portsmouth may have thought the same thing but unless there is a reason to treat the yam differently that's going to be the problem - the CVA is approved but the court have to look at the bigger picture and won't sanction the release and therefore sale of the shares.

Throughout all of our improvements to the ground and facilities we have paid our bills, no admins, no court actions for payments, and we have set up rather than stolen from a few charities along the way.

[CropleyWasGod]

In a parallel universe you may well be right, problem is that the one big fact in all of this remains that the shares that are needed for the biggest heist in many years were legally frozen and they do remain so.We didn't make that part up and the yam don't seem to want to address it, it's coming though.

Portsmouth may have thought the same thing but unless there is a reason to treat the yam differently that's going to be the problem - the CVA is approved but the court have to look at the bigger picture and won't sanction the release and therefore sale of the shares.

Throughout all of our improvements to the ground and facilities we have paid our bills, no admins, no court actions for payments, and we have set up rather than stolen from a few charities along the way.

No yet it's no.... maybe this time tomorrow though. :greengrin

[Bostonhibby]

No yet it's no.... maybe this time tomorrow though. :greengrin

Agreed, was hypothesising it for the sake of the argument however unless a creditor wants to make a point it's going to happen in my opinion. Never really been the real hurdle as you have been pointing out for some time :thumbsup:

[alexedwards]

It's possible, but it would have been pre-admin, no?

Valid point, although that purchase prior to admin is possible, however, still believe it to be nonsense - just thought I'd ask in case someone knew.

[Rocky]

In a parallel universe you may well be right, problem is that the one big fact in all of this remains that the shares that are needed for the biggest heist in many years were legally frozen and they do remain so.We didn't make that part up and the yam don't seem to want to address it, it's coming though.

Portsmouth may have thought the same thing but unless there is a reason to treat the yam differently that's going to be the problem - the CVA is approved but the court have to look at the bigger picture and won't sanction the release and therefore sale of the shares.

Throughout all of our improvements to the ground and facilities we have paid our bills, no admins, no court actions for payments, and we have set up rather than stolen from a few charities along the way.

How do you know they remain frozen though? What would happen in this country if someone initiated bankruptcy proceedings against me? Wouldn't my assets be frozen so I couldn't punt them off to someone for 'safekeeping'? Then after the court had appointed an admin/receiver/whatever they would dispose of them and the proceeds would go to my creditors, right?

I just think there's so much sport to be had here and we're looking in the wrong direction for it.

[CropleyWasGod]

How do you know they remain frozen though? What would happen in this country if someone initiated bankruptcy proceedings against me? Wouldn't my assets be frozen so I couldn't punt them off to someone for 'safekeeping'? Then after the court had appointed an admin/receiver/whatever they would dispose of them and the proceeds would go to my creditors, right?

I just think there's so much sport to be had here and we're looking in the wrong direction for it.

Given that no-one in the media has had the wit to ask the question, all we can do is rely on precedent.

That precedent is Portsmouth, which begs the secondary question.... why would HMFC be treated differently?

[CropleyWasGod]

Valid point, although that purchase prior to admin is possible, however, still believe it to be nonsense - just thought I'd ask in case someone knew.

The only way us punters can know is through their Annual Return at Companies House. That was due last September. :rolleyes:

[Bostonhibby]

How do you know they remain frozen though? What would happen in this country if someone initiated bankruptcy proceedings against me? Wouldn't my assets be frozen so I couldn't punt them off to someone for 'safekeeping'? Then after the court had appointed an admin/receiver/whatever they would dispose of them and the proceeds would go to my creditors, right?

I just think there's so much sport to be had here and we're looking in the wrong direction for it.

I see your general point which I think is about shifting assets about to dodge a creditor (?) that's not what has happened to the pink shares here - There was a court order freezing all the Romanov assets way back whilst the criminal investigation ran its course - same as Portsmouth and same legal system, if the court order had been set aside, or the yam weren't actually subject to that order then this thread would be @20k posts shorter and big trudi would be knocking in hat tricks every week as prophesised by the yam.

I am not sure if anyone could say what will happen to the shares next as the only example we have available is the Portsmouth ones which were frozen all those years ago whilst the criminal investigation went on and they are frozen still, long after Portsmouth took their penalty and set up as a new entity without anyone ever getting their hands on those pesky shares. Mind you they never had independent ian acting for them.:wink:

There's ample examples in this thread of us having our fun whilst keeping an eye on the main issue as well. Enjoy.

[Springbank]

Am I the only one who thinks that the 'frozen shares' is a great big red herring? UBIG's assets were frozen when the state initiated bankruptcy proceedings against UBIG - presumably to make sure no one ran off with the assets before an adminstrator was appointed?

So I would have thought that once the state appointed admin had the assets under his control he could dispose of what he wants in an orderly fashion to benefit the creditors. What would be the point of the shares remaining frozen?

The trouble with going on about the assets being frozen is that we've become greedy - wanting them to go pop entirely instead of savouring the moment and focusing on the real harsh reality for them. I.e. that there is no 'post admin debt free' Hearts anytime soon. Not only do they have to pay back the CVA and fund working capital for years, they also need to take on debt (if anyone will lend to them) to rebuild that deathtrap main stand. Remember that our debt, that they say will kill us, was taken on to build a stand - and we've paid a big chunk of that already.

Why don't we just noise them up about the stuff that there's no ifs, buts and maybes about instead of letting them get all excited about proving us wrong by coming out of admin?

Bottom line (in Pompey case) was that the shares weren't frozen in a civil court at the request of the administrator or for reasons relating to the administration.

They were frozen by criminal courts.
Because people like vlad and hearts board in recent years have been accused of downright criminality.

[HappyAsHellas]

Their hordes of fans are going to have to be digging in their pockets for maybe the next five years to watch their "big" club struggle along in the backwaters of football, known as the lower divisions in Scotland. How long will they keep paying when the garden isn't coming up roses? Not for five years I'll wager.
Also, if you want to see how desperate these muppets really are, there are people on brokeback actually trying to accuse Hibs of professionalism, from a newspaper dated .....wait for it......1887 when Vale of Leithen put in an unsuccessful complaint. The fact that the paper they posted on their site tells that Hibs were not found guilty doesn't matter - they don't read it for themselves 'cause some other roaster told them it was so. Jesus wept..........
Last thing we need is frozen shares to rip the posh out of that lot.

[Ozyhibby]

Am I the only one who thinks that the 'frozen shares' is a great big red herring? UBIG's assets were frozen when the state initiated bankruptcy proceedings against UBIG - presumably to make sure no one ran off with the assets before an adminstrator was appointed?

So I would have thought that once the state appointed admin had the assets under his control he could dispose of what he wants in an orderly fashion to benefit the creditors. What would be the point of the shares remaining frozen?

The trouble with going on about the assets being frozen is that we've become greedy - wanting them to go pop entirely instead of savouring the moment and focusing on the real harsh reality for them. I.e. that there is no 'post admin debt free' Hearts anytime soon. Not only do they have to pay back the CVA and fund working capital for years, they also need to take on debt (if anyone will lend to them) to rebuild that deathtrap main stand. Remember that our debt, that they say will kill us, was taken on to build a stand - and we've paid a big chunk of that already.

Why don't we just noise them up about the stuff that there's no ifs, buts and maybes about instead of letting them get all excited about proving us wrong by coming out of admin?

It's a fair point. I admit I'm greedy. :-)

[Bostonhibby]

Bottom line (in Pompey case) was that the shares weren't frozen in a civil court at the request of the administrator or for reasons relating to the administration.

They were frozen by criminal courts.
Because people like vlad and hearts board in recent years have been accused of downright criminality.

:agree: What he said. The arrest warrant is why Vlad won't be returning to Lithuania any time soon and in turn why the proceedings are likely to be delayed by the courts.

[Rocky]

It's a fair point. I admit I'm greedy. :-)

Aye, me too. The trouble with being greedy though is that you don't enjoy the pie you're having now as much because you're already thinking about which pie you want next ;-)

As far as I can see there's no evidence that the UBIG shares are still frozen, no evidence that the Portsmouth shares are still frozen and no evidence that the UBIG shares were frozen by a criminal court. Could be wrong on all of these but I've been paying pretty close attention to this thread.

So, if frozen shares do tip them over the edge it'll be a nice wee brucie bonus. If not, I'm plenty looking forward to 5-10 years of misery for them. And a pie...

[Bostonhibby]

Aye, me too. The trouble with being greedy though is that you don't enjoy the pie you're having now as much because you're already thinking about which pie you want next ;-)

As far as I can see there's no evidence that the UBIG shares are still frozen, no evidence that the Portsmouth shares are still frozen and no evidence that the UBIG shares were frozen by a criminal court. Could be wrong on all of these but I've been paying pretty close attention to this thread.

So, if frozen shares do tip them over the edge it'll be a nice wee brucie bonus. If not, I'm plenty looking forward to 5-10 years of misery for them. And a pie...

It's the Lithuanian court order freezing the HOMFC shares held by UBIG/UKIOS, the ones BDO recognise they will need to get the courts to "unfreeze" to avoid liquidating them.

[Rocky]

It's the Lithuanian court order freezing the HOMFC shares , the one BDO say they are trying the get the courts to "unfreeze"

Aye, right enough, forgot BDO had said that. That's made me feel a bit greedy again. Where's that other pie?

[Bostonhibby]

Aye, right enough, forgot BDO had said that. That's made me feel a bit greedy again. Where's that other pie?

:greengrin If you wait a few weeks there could be plenty spare cheap cakes around the city.

[Borderhibbie76]

Just saw on FB ****bos shareholders were at meeting at PBS tonight and were told if all goes to plan in Lith...they will b out of admin by mid May...make o that what u will...

Sent from my GT-I9505 using Tapatalk

[Eyrie]

Just saw on FB ****bos shareholders were at meeting at PBS tonight and were told if all goes to plan in Lith...they will b out of admin by mid May...make o that what u will...

Sent from my GT-I9505 using Tapatalk

All true, assuming that the bit in bold is the Save Hearts In Trouble plan and not that of the Lithuanian courts.

[Bostonhibby]

All true, assuming that the bit in bold is the Save Hearts In Trouble plan and not that of the Lithuanian courts.

Not last xmas, or any of the other false dawns then, excellent if true. Looking forward to the new June date being announced already. Big team, big delays.

[gorgie greens]

Just saw on FB ****bos shareholders were at meeting at PBS tonight and were told if all goes to plan in Lith...they will b out of admin by mid May...make o that what u will...

Sent from my GT-I9505 using Tapatalk

Which May are they talking about ? 2014,2015,2016 ?

[Borderhibbie76]

Which May are they talking about ? 2014,2015,2016 ?

Very true...watch this space... Maybe #allisbarry will have an "exclusive in 2moros EN. :)

Sent from my GT-I9505 using Tapatalk

[Mixu62]

Aye, me too. The trouble with being greedy though is that you don't enjoy the pie you're having now as much because you're already thinking about which pie you want next ;-)

As far as I can see there's no evidence that the UBIG shares are still frozen, no evidence that the Portsmouth shares are still frozen and no evidence that the UBIG shares were frozen by a criminal court. Could be wrong on all of these but I've been paying pretty close attention to this thread.

So, if frozen shares do tip them over the edge it'll be a nice wee brucie bonus. If not, I'm plenty looking forward to 5-10 years of misery for them. And a pie...


Health warning - don't eat frozen pies.

[Ronniekirk]

Health warning - don't eat frozen pies.
Yep key issue is defrost them first or they are no use to you

[Pray4Marc]

Very true...watch this space... Maybe #allisbarry will have an "exclusive in 2moros EN. :)

Sent from my GT-I9505 using Tapatalk

AllisBarry or Borthwick to spin tomorrow delays positively.

[Kato]

I don't get this idea that "all" Hibs fans have got as glory is Hearts demise. Whenever a "bad thing" happens to them I certainly don't the same feeling as when Hibs have scored an cracking goal or have won something. If a big "bad thing" happens to them I have a laugh then move onto my actual life (one of which I have got) but don't feel sorry for them. If it's a "good thing" happening to them (no, not being reborn as a worm riden wombat) like Budge coming forward or Ian Murray walking away I actually feel a teeny (miniscule) bit happy for my chunts (**** chums). I get the feeling they take the piss-taking a bit seriously but that could be all that emotional rollercoaster/celebrating proudly when Locke's Lions get trounced again.

It's perfectly normal and allowed to rip your local rivals woes.

So here's to their bad times, hope they have a big 'un on Sunday.

[Liberal Hibby]

Just saw on FB ****bos shareholders were at meeting at PBS tonight and were told if all goes to plan in Lith...they will b out of admin by mid May...make o that what u will...

Sent from my GT-I9505 using Tapatalk

So we're now only weeks away from a further -15 point penalty for starting the new season in administration - that is if they don't run out of cash first.

Avoiding relegation from the 'strongest league in Scotland' will surely be impossible, given they couldn't manage it from the far weaker SPL?

[greenginger]

Here is an article from last April's Lithuanian press about the arrest of Vlad's assets.

http://www.lrytas.lt/-13656932661365372683-are%C5%A1tuota-v-romanovo-ir-jo-sesers-turto-u%C5%BE-55-mln-lit%C5%B3.htm#.UzS6l6h_tig

It says, well Google translate says,

"Arrested the moveable and immoveable property owned by companies UBIG and Birac Europe.The court banned any business transfers."

I would guess there would have to be some court procedure to allow the share transfer, but it might only be a rubber stamp. :greengrin

[DC_Hibs]

If not, I'm plenty looking forward to 5-10 years of misery for them....

That lot paying wages that they can afford now is a novelty but their budget for players should be OK in comparison with what ICT and Ross County pay out so there's no guarantees they will be in the doldrums for that long....although if Golden Gary is still in charge!!!!!

It might take them a few years to get back to the lofty heights of the SPFL right enough. A demolition order for that main stand is also long overdue.

[Spike Mandela]

In this article from last June the second last paragraph just all seems a little bit too cosy for me. Something stinks in the state of Lithuania......:cb

http://www.bbc.co.uk/sport/0/football/22872935

[GreenLake]

In this article from last June the second last paragraph just all seems a little bit too cosy for me. Something stinks in the state of Lithuania......:cb

http://www.bbc.co.uk/sport/0/football/22872935

One might be tempted to think that wheels were being greased.

[green day]

Just saw on FB ****bos shareholders were at meeting at PBS tonight and were told if all goes to plan in Lith...they will b out of admin by mid May...make o that what u will...


Shareholders dinners at Tynie are just a pissup with speakers.

Ian Murray was a speaker there last night, hence the 'if all goes according to plan....' bit ! ! !

Wasn't telling them anything they couldn't have got off here or BBC though.

Sure the cardigan wearers would have been jizzing in their M&S slacks though.

[Geo_1875]

Shareholders dinners at Tynie are just a pissup with speakers.

Ian Murray was a speaker there last night, hence the 'if all goes according to plan....' bit ! ! !

Wasn't telling them anything they couldn't have got off here or BBC though.

Sure the cardigan wearers would have been jizzing in their M&S slacks though.

Was this areal shareholders meeting or an imaginary shareholders meeting?

[Ozyhibby]

Was this areal shareholders meeting or an imaginary shareholders meeting?

I heard it was going to be a share certificate presentation night but it had to be cancelled again. No reason given.

[Caversham Green]

I don't get this idea that "all" Hibs fans have got as glory is Hearts demise. Whenever a "bad thing" happens to them I certainly don't the same feeling as when Hibs have scored an cracking goal or have won something. If a big "bad thing" happens to them I have a laugh then move onto my actual life (one of which I have got) but don't feel sorry for them. If it's a "good thing" happening to them (no, not being reborn as a worm riden wombat) like Budge coming forward or Ian Murray walking away I actually feel a teeny (miniscule) bit happy for my chunts (**** chums). I get the feeling they take the piss-taking a bit seriously but that could be all that emotional rollercoaster/celebrating proudly when Locke's Lions get trounced again.

It's perfectly normal and allowed to rip your local rivals woes.

So here's to their bad times, hope they have a big 'un on Sunday.

I pretty much agree with that. Over in the Keechsack they reckon we'll be suicidal if they ever get out of administration, but in truth they'll just be extending the brilliant comedy they've provided since their ridiculous 'share' issue. Instead of the punchline of administration the joke will carry on.

I disagree about the teeny bit happy for them bit though. As Keechsack is all I see of Hearts (In Administration) fans now, and the vast majority of them are a pretty repulsive bunch, I don't give a flying toss what happens to their sordid little club.

[mjhibby]

I pretty much agree with that. Over in the Keechsack they reckon we'll be suicidal if they ever get out of administration, but in truth they'll just be extending the brilliant comedy they've provided since their ridiculous 'share' issue. Instead of the punchline of administration the joke will carry on.

I disagree about the teeny bit happy for them bit though. As Keechsack is all I see of Hearts (In Administration) fans now, and the vast majority of them are a pretty repulsive bunch, I don't give a flying toss what happens to their sordid little club.

I'm in the don't give a monkeys what happens to them camp. I equate them to the guy who comes into the pub that nobody wants to speak to and people leave or go to the loo. I don't know of supporters of any other club who have a good word to say about them.

[Weststandwanab]

Am I the only one who thinks that the 'frozen shares' is a great big red herring? UBIG's assets were frozen when the state initiated bankruptcy proceedings against UBIG - presumably to make sure no one ran off with the assets before an adminstrator was appointed?

So I would have thought that once the state appointed admin had the assets under his control he could dispose of what he wants in an orderly fashion to benefit the creditors. What would be the point of the shares remaining frozen?

The trouble with going on about the assets being frozen is that we've become greedy - wanting them to go pop entirely instead of savouring the moment and focusing on the real harsh reality for them. I.e. that there is no 'post admin debt free' Hearts anytime soon. Not only do they have to pay back the CVA and fund working capital for years, they also need to take on debt (if anyone will lend to them) to rebuild that deathtrap main stand. Remember that our debt, that they say will kill us, was taken on to build a stand - and we've paid a big chunk of that already.

Why don't we just noise them up about the stuff that there's no ifs, buts and maybes about instead of letting them get all excited about proving us wrong by coming out of admin? They are frozen for one of two reasons, or in this case possibly both, first the ownership is in dispute and they may be security for borrowings and secondly if there is a "proceeds of crime" issue.


How do you know they remain frozen though? What would happen in this country if someone initiated bankruptcy proceedings against me? Wouldn't my assets be frozen so I couldn't punt them off to someone for 'safekeeping'? Then after the court had appointed an admin/receiver/whatever they would dispose of them and the proceeds would go to my creditors, right?

I just think there's so much sport to be had here and we're looking in the wrong direction for it. BDO confirmed this was the case in their submissions.


Given that no-one in the media has had the wit to ask the question, all we can do is rely on precedent.

That precedent is Portsmouth, which begs the secondary question.... why would HMFC be treated differently? Agreed.


:agree: What he said. The arrest warrant is why Vlad won't be returning to Lithuania any time soon and in turn why the proceedings are likely to be delayed by the courts. And Russian citizens cannot be extradited so do not expect Mad Vlad appearing anytime soon.


Aye, me too. The trouble with being greedy though is that you don't enjoy the pie you're having now as much because you're already thinking about which pie you want next ;-)

As far as I can see there's no evidence that the UBIG shares are still frozen, no evidence that the Portsmouth shares are still frozen and no evidence that the UBIG shares were frozen by a criminal court. Could be wrong on all of these but I've been paying pretty close attention to this thread.

So, if frozen shares do tip them over the edge it'll be a nice wee brucie bonus. If not, I'm plenty looking forward to 5-10 years of misery for them. And a pie... Lithuanian Courts say so.


Just saw on FB ****bos shareholders were at meeting at PBS tonight and were told if all goes to plan in Lith...they will b out of admin by mid May...make o that what u will...

Sent from my GT-I9505 using Tapatalk Another false Dawn that is the fifth now I think.


AllisBarry or Borthwick to spin tomorrow delays positively. Looking forward to it.


I don't get this idea that "all" Hibs fans have got as glory is Hearts demise. Whenever a "bad thing" happens to them I certainly don't the same feeling as when Hibs have scored an cracking goal or have won something. If a big "bad thing" happens to them I have a laugh then move onto my actual life (one of which I have got) but don't feel sorry for them. If it's a "good thing" happening to them (no, not being reborn as a worm riden wombat) like Budge coming forward or Ian Murray walking away I actually feel a teeny (miniscule) bit happy for my chunts (**** chums). I get the feeling they take the piss-taking a bit seriously but that could be all that emotional rollercoaster/celebrating proudly when Locke's Lions get trounced again.

It's perfectly normal and allowed to rip your local rivals woes.

So here's to their bad times, hope they have a big 'un on Sunday. If the shoe was on the other foot...


Shareholders dinners at Tynie are just a pissup with speakers.

Ian Murray was a speaker there last night, hence the 'if all goes according to plan....' bit ! ! !

Wasn't telling them anything they couldn't have got off here or BBC though.

Sure the cardigan wearers would have been jizzing in their M&S slacks though. I wonder if Murray will still be invited when the big L appears and he is no longer an M. P..


Was this areal shareholders meeting or an imaginary shareholders meeting? If you can "prove" you bought shares last December you are allowed to attend.

Good Luck with proof


I heard it was going to be a share certificate presentation night but it had to be cancelled again. No reason given. BDO will not pay the £14k printing bill to issue them

[Bostonhibby]

Was this areal shareholders meeting or an imaginary shareholders meeting?

A chance for Vlads neice to catch up with the bank admins over a reduced price Tesco sandwich whilst holding up an umbrella to catch the drips from the leaky roof?

Shareholders? The biggest ones can't, won't or daren't attend.

[Kato]

I pretty much agree with that. Over in the Keechsack they reckon we'll be suicidal if they ever get out of administration, but in truth they'll just be extending the brilliant comedy they've provided since their ridiculous 'share' issue. Instead of the punchline of administration the joke will carry on.

Like all the best comedians they are unaware just exactly gow funny they are.


I disagree about the teeny bit happy for them bit though. As Keechsack is all I see of Hearts (In Administration) fans now, and the vast majority of them are a pretty repulsive bunch, I don't give a flying toss what happens to their sordid little club.

Was speaking about friends only, even then if things did go tits-up for them I'd still laugh like a drain.

[Ronniekirk]

Like all the best comedians they are unaware just exactly gow funnt they are.



Was speaking about friends only, even then if things did go tits-up for them I'd still laugh like a drain.

Have never heard a drain laugh ,but I will take your word for it that it's funnt :wink:

[cabbageandribs1875]

Have never heard a drain laugh ,but I will take your word for it that it's funnt :wink:





the Drain that laughs last, laughs the longest







mon the laughing drains

[WindyMiller]

Some info here......

http://www.accountancyage.com/aa/news/2262996/bdo-administrators-confirm-sale-of-portsmouth-fc


I could certainly put up with Hertz following the Portsmouth model. :agree:


http://www.bbc.co.uk/sport/football/league-two/table

[Juice-Terry]

I'm in the don't give a monkeys what happens to them camp. I equate them to the guy who comes into the pub that nobody wants to speak to and people leave or go to the loo. I don't know of supporters of any other club who have a good word to say about them.

Spot on. Most non-Hibbies I've spoken to have Hertz firmly in the top three of most hated clubs in Scotland (with Hibs nowhere near the top).

[StevieC]

I get the impression, from previous BDO statements, that the money is going to run out before the deal can be concluded. The Lith meetings within the next couple of weeks might give an indication as to whether a CVA has a fighting chance but regardless they need to find a way to find things till the end of the season.

I'm surprised that FoH haven't issued a statement regarding the use of funds to fund on going costs, and part of me thinks that this might be because they are not confident of a deal being concluded.

[Mikey]

Could someone who's trying to tell us that the shares aren't frozen, just because it hasn't been mentioned officially for a while, tell us why the building in St Andrew Sq hasn't been sold yet? Or any other asset for that matter.....

[matty_f]

Could someone who's trying to tell us that the shares aren't frozen, just because it hasn't been mentioned officially for a while, tell us why the building in St Andrew Sq hasn't been sold yet? Or any other asset for that matter.....

I have to say that (based on nothing more solid than a gut feeling - and not aparticularly solid gut these days either) my thoughts are that the shares will be traded relatively easily. I think we have been more read into the frozen shares than there should be.

I have to caveat that statement with the acknowledgement that I speak from s position of almost total ignorance of the processes involved. :greengrin

[Spike Mandela]

Jamie Borthwick (@jamiekborthwick)
28/03/2014 11:10
Hearts decision postponed in Lithuania due to "lack of technical details" for Ukio's creditors. New meeting to take place within 10 days.

Download the official Twitter app here


Sent from my iPad

[Fife-Hibee]

jamie borthwick (@jamiekborthwick)
28/03/2014 11:10
hearts decision postponed in lithuania due to "lack of technical details" for ukio's creditors. New meeting to take place within 10 days.

Download the official twitter app here


sent from my ipad

lovely :-)))

[Waxy]

Tick tock

[green glory]

Jambogeddon still on schedule.

Licks lips.

[JeMeSouviens]

Jamie Borthwick (@jamiekborthwick)
28/03/2014 11:10
Hearts decision postponed in Lithuania due to "lack of technical details" for Ukio's creditors. New meeting to take place within 10 days.


Shirley the only technical detail required was where to put the rubber stamp? :wink:

[Spike Mandela]

BBCBMcLauchlin (@BBCBMcLauchlin)
28/03/2014 11:18
One major creditor of UBIG, Sauliu Bank is unhappy with the price being offered for the shares in Hearts.#bbcsportscot

Download the official Twitter app here


Sent from my iPad

[jonty]

BBCBMcLauchlin
@BBCBMcLauchlin
One major creditor of UBIG, Sauliu Bank is unhappy with the price being offered for the shares in Hearts.#bbcsportscot.

Pleasing.

[Juice-Terry]

Jamie Borthwick (@jamiekborthwick)
28/03/2014 11:10
Hearts decision postponed in Lithuania due to "lack of technical details" for Ukio's creditors. New meeting to take place within 10 days.

Download the official Twitter app here


Sent from my iPad

:tee hee::tee hee::tee hee:

[Peevemor]

BBCBMcLauchlin (@BBCBMcLauchlin)
28/03/2014 11:18
One major creditor of UBIG, Sauliu Bank is unhappy with the price being offered for the shares in Hearts.#bbcsportscot

Download the official Twitter app here


Sent from my iPad

'mon the Saulius! :hibees

[#FromTheCapital]

Boom! Get it up ye tramps

[Juice-Terry]

BBCBMcLauchlin (@BBCBMcLauchlin)
28/03/2014 11:18
One major creditor of UBIG, Sauliu Bank is unhappy with the price being offered for the shares in Hearts.#bbcsportscot

Download the official Twitter app here


Sent from my iPad

:na na:

[Juice-Terry]

Any reactions on Sickboak yet? :greengrin

[marinello59]

Any reactions on Sickboak yet? :greengrin

Their creditors meeting thread has already turned pretty funny. Even the thickest of the thick over there will realise this ain't good news.

[AinsterHibs]

Tickety, tockety, tickety, tockety...BOOOM!:greengrin

[Spike Mandela]

Lack of technical detail? Is this administrator an amateur?

http://sport.prod.stv.tv/football/269672-hearts-dealt-fresh-cva-blow-as-creditors-in-lithuania-delay-shares-decision/

[leggeto]

BBCBMcLauchlin (@BBCBMcLauchlin)
28/03/2014 11:18
One major creditor of UBIG, Sauliu Bank is unhappy with the price being offered for the shares in Hearts.#bbcsportscot

Download the official Twitter app here


Sent from my iPad

I am laughing at this right now,CWG,Sergey,baj,Mikey,and countless others right all along

[greenpaper55]

This from the other side


http://www.hmfckickback.co.uk/public/style_images/JKB_2010/snapback.png (http://www.hmfckickback.co.uk/index.php?app=forums&module=forums&section=findpost&pid=4108827)2NaFish, on 28 March 2014 - 11:19 AM, said:
BBCBMcLauchlin @BBCBMcLauchlin (https://twitter.com/BBCBMcLauchlin)

One major creditor of UBIG, Sauliu Bank is unhappy with the price being offered for the shares in Hearts.#bbcsportscot (https://twitter.com/search?q=%23bbcsportscot)


"Take it or leave it if they leave it they get nothing. "

They don't get it, the Liths want more and they will take it by that i mean Tincastle, Ya beauty !.

[ronaldo7]

Jamie Borthwick ‏@jamiekborthwick 2m
Hearts decision postponed in Lithuania due to "lack of technical details" for Ukio's creditors. New meeting to take place within 10 days

[GordonHFC]

BBCBMcLauchlin (@BBCBMcLauchlin)
28/03/2014 11:18
One major creditor of UBIG, Sauliu Bank is unhappy with the price being offered for the shares in Hearts.#bbcsportscot

Download the official Twitter app here


Sent from my iPad

That's one beauty of a 'technical detail'.

Jam Tarts Bye Bye :greengrin

[ballengeich]

Let's hope Sauliu Bank demand every penny that FOH have collected.

[matty_f]

:faf: well played Sauliu!!

[StevieC]

Jamie Borthwick (@jamiekborthwick)
28/03/2014 11:10
Hearts decision postponed in Lithuania due to "lack of technical details" for Ukio's creditors. New meeting to take place within 10 days.


BBCBMcLauchlin (@BBCBMcLauchlin)
28/03/2014 11:18
One major creditor of UBIG, Sauliu Bank is unhappy with the price being offered for the shares in Hearts.#bbcsportscot

Conflicting information??
Is it UBIG or UKIO that are unhappy with what's on offer (or both)?
If it's UKIO then it's a major problem for the CVA, if it's UBIG then it's going to result in further delays.
Either way, as I mentioned a few posts ago, they are going to run out of money before this is close to a conclusion. With that in mind, I am really surprised that FoH haven't been more active with discusions with the DD's about possible redirection of funds to plug the gap till the end of the season?

[Spike Mandela]

Let's hope Sauliu Bank demand every penny that FOH have collected.

This sounds like what CWG was talking about in that the administrators have got £50k for something that on paper is worth nothing. If Sauliu bank are a major creditor owed a huge amount well £50k shared out is worthless. They will though realise that the shares are in fact 'priceless' to FoH.

[Weststandwanab]

I get the impression, from previous BDO statements, that the money is going to run out before the deal can be concluded. The Lith meetings within the next couple of weeks might give an indication as to whether a CVA has a fighting chance but regardless they need to find a way to find things till the end of the season.

I'm surprised that FoH haven't issued a statement regarding the use of funds to fund on going costs, and part of me thinks that this might be because they are not confident of a deal being concluded. I have always thought that and still do.


Could someone who's trying to tell us that the shares aren't frozen, just because it hasn't been mentioned officially for a while, tell us why the building in St Andrew Sq hasn't been sold yet? Or any other asset for that matter..... Good question.


Jamie Borthwick (@jamiekborthwick)
28/03/2014 11:10
Hearts decision postponed in Lithuania due to "lack of technical details" for Ukio's creditors. New meeting to take place within 10 days.

Download the official Twitter app here


Sent from my iPad Not happy at consideration is what my bet is on.


I am laughing at this right now,CWG,Sergey,baj,Mikey,and countless others right all along Count me in.


Let's hope Sauliu Bank demand every penny that FOH have collected. Man the Sauliu Bnk

[Spike Mandela]

Conflicting information??
Is it UBIG or UKIO that are unhappy with what's on offer (or both)?
If it's UKIO then it's a major problem for the CVA, if it's UBIG then it's going to result in further delays.
Either way, as I mentioned a few posts ago, they are going to run out of money before this is close to a conclusion. With that in mind, I am really surprised that FoH haven't been more active with discusions with the DD's about possible redirection of funds to plug the gap till the end of the season?

A sell out at Tynie may plug the gap for a short time. The wee team bailing out the Big team,AGAIN.

[Spike Mandela]

Looking forward to Banderson's report of todays events.:greengrin

[Dashing Bob S]

Pissing myself with laughter! Anybody know where sauluis?

[greenpaper55]

THEY are saying Budge has entered the building ie tincastle , hope she disnae slam the door or it will come down about her but i digress, maybe a panic meeting going on today ?.

[Ross4356]

So to confirm the Ukio meeting has been put back 10 days due the "technical details" AND a UBIG creditor is not happy with the 50k on offer for the shares with that meeting in for 7th April?

A double blow?

[Kato]

Jamie Borthwick (@jamiekborthwick)
28/03/2014 11:10
Hearts decision postponed in Lithuania due to "lack of technical details" for Ukio's creditors. New meeting to take place within 10 days.

Download the official Twitter app here


Sent from my iPad

Boring

[Gus Fring]

"Green lights all the way"

"Rubber stamp"

"All a Formality"

"Creditors all on Hearts' side"

[Wing Half]

https://www.youtube.com/watch?v=dzMzfJTvM5c

[Sergey]

BBCBMcLauchlin (@BBCBMcLauchlin)
28/03/2014 11:18
One major creditor of UBIG, Sauliu Bank is unhappy with the price being offered for the shares in Hearts.#bbcsportscot

Download the official Twitter app here


Sent from my iPad

The power of email is astounding.

GIRFUY ya bunch of Jambo cretins.

[MurrayfieldHibs]

The power of email is astounding.

GIRFUY ya bunch of Jambo cretins.


:tee hee:

[Weststandwanab]

Pissing myself with laughter! Anybody know where sauluis? Who cares but shortly I will be lifting a pint to them - Pleasing


THEY are saying Budge has entered the building ie tincastle , hope she disnae slam the door or it will come down about her but i digress, maybe a panic meeting going on today ?. Panic meeting it will be.

They will be asking Budgie to (risk) funding them until the next meeting in the hope there are no more technical issues.

My reckoning is thy will be lucky to escape Admin before the thick end of May - assuming all goes well.

I of course remain in the camp that the big L is coming.

[haagsehibby]

But I thought they had a Memorandum of Understanding ??

:cb

[Dashing Bob S]

I'm going to have a 'Saluais Bank' to celebrate the good news.

[Kato]

Pissing myself with laughter! Anybody know where sauluis?

Sauluis in denial.

[lord bunberry]

Pissing myself with laughter! Anybody know where sauluis?

Just behind the fat lady

[Kato]

But I thought they had a Memorandum of Understanding ??

:cb

Looks like someone misunderstood it.

[The Falcon]

"Green lights all the way"

"Rubber stamp"

"All a Formality"

"Creditors all on Hearts' side"

Kickback saying "The £2.5m can't be challenged"

Surely if the CVA is conditional it can be challenged by any of the creditors?

[Coco Bryce]

I'm going to have a 'Saluais Bank' to celebrate the good news.

:applause::rotflmao:

[Coco Bryce]

The power of email is astounding.

GIRFUY ya bunch of Jambo cretins.

:hilarious

[Gus Fring]

Siauliu bank is the bank that took over the liabilities of UKIO when they went under are they not? So if they are kicking up a stink then it would seem to me that's a very big deal

My (admitted limited) understanding is that they have the ability to be able to say "that's not enough money, it's worth a lot more than that. I think McLaughlin is getting a bit confused. I don't think this is UBIG. I think it's UKIO and this is the start of the CVA being rejected by those in Lithuania with the power to do so.

[Kato]

Kickback saying "The £2.5m can't be challenged"

Surely if the CVA is conditional it can be challenged by any of the creditors?

I don't think any conditions were set, the CVA was accepted "provisionally" (I think the word was). Provision being let's see what happens once a creditor's committee is voted on. The original acceptance isn't worth jack.

[lord bunberry]

Siauliu bank is the bank that took over the liabilities of UKIO when they went under are they not? So if they are kicking up a stink then it would seem to me that's a very big deal

Gentlemen start your ovens.

[Just Alf]

:lolyam:
:partyhibb

[Weststandwanab]

But I thought they had a Memorandum of Understanding ??

:cb They do - but they have no legal status.


Siauliu bank is the bank that took over the liabilities of UKIO when they went under are they not? So if they are kicking up a stink then it would seem to me that's a very big deal The very same.

[AltheHibby]

A bad day just got so much better. Thank you hibs.net. :-)