Share Transfers Agreed/Cooling off period

[jgl07]

Has a figure been set for the football related debts for football related debts for Hearts?

I was talking to Andy Driver's former flatmate and he reckons he was due around £135,000 in unpaid wages from Hearts.

Those sort of figures will be a lot to carry for any Newco in League Two or the Lowland League.

[Phil D. Rolls]

BDO stated that an agreement will have to be reached within two weeks or its liquidation time. I'm guessing that Budge had the same timeframe in mind when talking about walking away.

If a meeting hasnt even been arranged and people are talking about UKIO wanting it delayed again....

Oh dear.

Effectively telling them they'll be wound up in two weeks time then?

[Diclonius]

Nae Hearts for three years? ****ing hell.

[Pray4Marc]

I am still confident this will all go wrong for them.:cb

Never in doubt :)

[Hibernia&Alba]

Awfy like it, just tried to get on, "You do not have permission yada yada"........Have the doors been padlocked already!

HAPPY DAYS!!!!!!!:flag:

I just got a blank screen, mate. No explanation, no nothing. Gone into the ether ha ha

[emerald green]

" Just when i think i'm out....you pull me back in "

Brilliant post! :faf:

[HibeeHendo]

A win today to ease the play off fears and it will be a perfect Monday.

[Onion]

Radio Forth still reporting Hearts making good progress... half way there :aok:

[Keith_M]

"Hearts are a step closer to avoiding liquidation after it was reported that the majority of UBIG creditors have voted to sell their shares in the club.

With Ukio creditors meeting today, it is hoped that they too will agree to a sale."


#allisbarry, Evening News today. (http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-shares-ubig-accept-deal-1-3367536)


He categorically stated that UKIO Creditors were meeting today.

[Islington Hibs]

Lets make this a great day and win ourselves tonight.

:flag:

[GreenLake]

I can confirm Barry is in the office, mobile to ear. His face paints a million pictures!

Source: I work for the Scotsman

Can you ask Banderson if he speaks Punjabi or Sanskrit?

BAṆDAR ਬੰਦਰ Corrupted from the Sanskrit word Bánar . A monkey , an ape ; (met .) a fool .

[Phil D. Rolls]

From Jambos.net, earlier today.





Rumour has it it's been approved but won't be ratified until tomorrow. If true we are there! Get it up Bajillions and sirgay!


_________________
Not very long ago, in the top left-hand corner
of Wales, there was a railway

[carnoustiehibee]

Fantastic news. Get a win tonight hibs to round off a cracking weekend

[Hibernia&Alba]

Radio Forth still reporting Hearts making good progress... half way there :green grin

Aye, just as German radio reported the tide was turning in Russia in late 1944.

[rcarter1]

Just came off the phone to my mate who is Hearts daft. He was never one to gloat about Vlad and all that ****. He was genuinely feeling sick the club he loves may go under.

He said "I know myself Hearts are to blame for this mess and Vlad was a nut job of a man but as a fan I couldn't do anything about that" He is right to be honest. The fans who are genuine and just love that club for what it is through family or footballing reasons deserve better.

I'm trying to move away from the hate and look at the bigger picture now. Can we honestly say Edinburgh would thrive if one of us were no longer here? I don't think we can for sure. Hearts still being around will be nothing like it used to be. They will toil for years and we "might" even win a few derby games again if they make it back or we get a cup game.

I know this won't be popular and only this morning I wanted them bust but only because I view them through Kickback not through a family member or friend who are all good guys. They would be devastated if they lose the club.

So for me I'm happy to see them barely survive on scraps and linger around in the lower leagues. believe me this may be a lot more pleasurable than them going out the box altogether.

this. I understand the desire for blood letting, but there are plenty of decent Jambos who are feeling it rough. I hope they make it one way or another, and for our two sets of fans to try and create links rather than sit on different fences throwing bananas at each other.

[wallmack]

@BBCBMcLauchlin: Just been informed no statement will be released#bbcsportscot


oh dear oh dear!!:LOL::LOL:

[Jim44]

The number of guests on here is dropping by the second. :bye:

[emerald green]

A win today to ease the play off fears and it will be a perfect Monday.

HOMFC relegated (4th time I've seen this), der Huns beaten by Raith Rovers on our pitch, now this news. If only we could get at least a point tonight it would defo be a Carlsberg weekend/Monday. :agree:

[HIBERNIAN-0762]

Nae Hearts for three years? ****ing hell.

Aye and the rest.....:wink:

[Kato]

Aye, the three of them are a right pair. :greengrin

I read it as each of them is a pair, that's 3 people are 6 Muppets, 2 Muppets per person. Sounds about right.

[McPhisto2]

Although there's no statement today and the meeting has broken up, it seems the understanding is that talk will continue over the next few days!!?

Also where does this leave Budgie? She was the one who said that if it wasn't done today, she was off!!?

[Bristolhibby]

http://edge.liveleak.com/80281E/u/u/thumbs/2007/Jan/29/a2d04ed69c_sf_1.jpg

"No tanks in Bagdad"

http://newsimg.bbc.co.uk/media/images/39072000/jpg/_39072869_baghdadarches_ap203.jpg

[CropleyWasGod]

has a figure been set for the football related debts for football related debts for hearts?

I was talking to andy driver's former flatmate and he reckons he was due around £135,000 in unpaid wages from hearts.

Those sort of figures will be a lot to carry for any newco in league two or the lowland league.

£535,000 iirc

[PHEONIXHIBS]

Just shows How out of touch The FOH are when there own twitter feed had the UKIO creditors meeting as underway as well. Foundation of Hearts ‏@The_FOH 3 hrs (https://twitter.com/The_FOH/status/453126693218418688)
UPDATE: we understand the UKIO meeting is being held today and has started. We will bring you news as we get it.

[Onion]

Unless BDO got some form of guarantee from UKIO lawyers that a meeting will take place within the next 2 weeks and the CVA passed, IMHO they will pull the plug today or tomorrow. This could all be over soon.

[Pete]

Does anyone really know what the f*** is going on? Can anyone explain this to a simple guy like me please? Thanks.:wink:

They had a UBIG creditors meeting where share transfer was agreed. Good for them but the shares are frozen.

They had a cup of tea with UKIOs lawyers. No meeting has been arranged with creditors. No statement has been issued which probably would have been had there been anything positive to state. I think.

Miles away from all the positive spin and "they're getting away with it" nonsense.

They need something big to happen quickly or its goodnight Vienna.

[BroxburnHibee]

Although there's no statement today and the meeting has broken up, it seems the understanding is that talk will continue over the next few days!!?

Also where does this leave Budgie? She was the one who said that if it wasn't done today, she was off!!?


What meeting? As far as I can see no meeting was ever scheduled - confused.com

[Keith_M]

Although there's no statement today and the meeting has broken up, it seems the understanding is that talk will continue over the next few days!!?

Also where does this leave Budgie? She was the one who said that if it wasn't done today, she was off!!?

Says who?

The understanding was that there was a meeting of the UKIO Creditors today but there is no evidence that it actually occured.

[Hibernia&Alba]

Unless BDO got some form of guarantee from UKIO lawyers that a meeting will take place within the next 2 weeks and the CVA passed, IMHO they will pull the plug today or tomorrow. This could all be over soon.

Arousing

[AinsterHibs]

I just got a blank screen, mate. No explanation, no nothing. Gone into the ether ha ha

I got this:

http://i59.tinypic.com/2m5mf41.jpg

and this:

<a href="http://tinypic.com?ref=2m5mf41" target="_blank"><img src="http://i59.tinypic.com/2m5mf41.jpg" border="0" alt="Image and video hosting by TinyPic"></a>

[McPhisto2]

@BBCBMcLauchlin: Talks between lawyers of Ukio Bankas and BDO over shares in Hearts break up with no agreement in place. Talks to continue next few days”

!!???

[portyhibernian]

Not been keeping tabs on this as been working, so can someone (and forgive my ignorance) clarify in one or two sentences what's the significance of the fact that there isn't a statement from the Ukio 'meeting' that may or may not have gone ahead? And is it not the case that talks can just continue tomorrow?

Tried twitter but there appears to be an awful lot of clueless jambo muppets with conflicting stories on there.

EDIT: Never mind Peter Douglas post has me right up to date!

[emerald green]

They had a UBIG creditors meeting where share transfer was agreed. Good for them but the shares are frozen.

They had a cup of tea with UKIOs lawyers. No meeting has been arranged with creditors. No statement has been issued which probably would have been had there been anything positive to state. I think.

Miles away from all the positive spin and "they're getting away with it" nonsense.

They need something big to happen quickly or its goodnight Vienna.

Thanks for that mate. :aok:

[the_ginger_hibee]

Aye, the three of them are a right pair. :greengrin

Pfft...I was sticking to true Banderson form sir :greengrin amended like nothing ever happened, also in true allis style :wink:

[green glory]

Not been keeping tabs on this as been working, so can someone (and forgive my ignorance) clarify in one or two sentences what's the significance of the fact that there isn't a statement from the Ukio 'meeting' that may or may not have gone ahead? And is it not the case that talks can just continue tomorrow? Tried twitter but there appears to be an awful lot of clueless jambo muppets with conflicting stories on there.

Jambogeddon (possibly) imminent.

[Weststandwanab]

How come there's so many yams viewing this thread? Surely these are just the ramblings of bitter hobo junkies? Because Brokeback is....well broke.


Although there's no statement today and the meeting has broken up, it seems the understanding is that talk will continue over the next few days!!?

Also where does this leave Budgie? She was the one who said that if it wasn't done today, she was off!!? If talks were going to continue they "would have made a statement".

Let's hope the Lady is "not for Budging".

[CropleyWasGod]

Unless BDO got some form of guarantee from UKIO lawyers that a meeting will take place within the next 2 weeks and the CVA passed, IMHO they will pull the plug today or tomorrow. This could all be over soon.

It's not the lawyers' call.

Neither is it the administrator's.

It's the creditors' call.

Whenever they have their meeting....

[Geo_1875]

this. I understand the desire for blood letting, but there are plenty of decent Jambos who are feeling it rough. I hope they make it one way or another, and for our two sets of fans to try and create links rather than sit on different fences throwing bananas at each other.

Naw there isnae.

They're aw ****.

[Jim44]

They had a UBIG creditors meeting where share transfer was agreed. Good for them but the shares are frozen.

They had a cup of tea with UKIOs lawyers. No meeting has been arranged with creditors. No statement has been issued which probably would have been had there been anything positive to state. I think.

Miles away from all the positive spin and "they're getting away with it" nonsense.

They need something big to happen quickly or its goodnight Vienna.

And there was silly me thinking the capital was Vilnius.:tee hee:

[Just Alf]

So, Sergey was 100% bang on about todays meetings (or lack thereof) .... :lolyam:

[Phil D. Rolls]

Although there's no statement today and the meeting has broken up, it seems the understanding is that talk will continue over the next few days!!?

Also where does this leave Budgie? She was the one who said that if it wasn't done today, she was off!!?

Those Talks In Full......

Jackson: Can we meet today?
UKIO: Come back this afternoon.
Jackson: OK, will I bring biscuits?

later

Jackson: Can we meet today?
UKIO: Come back tomorrow.
Jackson: OK, will I bring biscuits?

Repeat daily for two weeks.

[jacomo]

@BBCBMcLauchlin: Just been informed no statement will be released#bbcsportscot

No statement because there was no meeting?

Unless, of course, you understand a meeting to mean Bryan Jackson waiting around outside the front door of the administrators and approaching anyone who emerges.

'Hiya pal, you're not by chance an administrator of Ukio bank are you?... yes, yes, your security guard has spoken to me already, it's just the thing is, I've sort of told people back in Edinburgh you guys were having a meeting today and I flew over here on the off chance... No, there's no need to call the police, I am leaving.'

[Keith_M]

To repeat someone's earlier request, as I haven't seen a reply...


Does anyone have a link to the article about Budge saying something had to happen soon or she's offski?

[Bishop Hibee]

I can confirm Barry is in the office, mobile to ear. His face paints a million pictures!

Source: I work for the Scotsman

Are you Bajillions Colin ;-)

[kdhibees1]

https://twitter.com/jamb0skickback

[Waxy]

It's not the lawyers' call.

Neither is it the administrator's.

It's the creditors' call.

Whenever they have their meeting....Surely no meeting now. Not till after the Easter hols at least.

[Dashing Bob S]

They had a UBIG creditors meeting where share transfer was agreed. Good for them but the shares are frozen.

They had a cup of tea with UKIOs lawyers. No meeting has been arranged with creditors. No statement has been issued which probably would have been had there been anything positive to state. I think.

Miles away from all the positive spin and "they're getting away with it" nonsense.

They need something big to happen quickly or its goodnight Vienna.

An excellent summary. They are on the ropes now and really need a big game-changer.

[McPhisto2]

:top marks
No statement because there was no meeting?

Unless, of course, you understand a meeting to mean Bryan Jackson waiting around outside the front door of the administrators and approaching anyone who emerges.

'Hiya pal, you're not by chance an administrator of Ukio bank are you?... yes, yes, your security guard has spoken to me already, it's just the thing is, I've sort of told people back in Edinburgh you guys were having a meeting today and I flew over here on the off chance... No, there's no need to call the police, I am leaving.'

[hibseleven]

:top marks Whoever said they were sitting in a cafe in Penicuik was right.

you obviously haven't seen the nick of Penicuiks café have you......?

[Onion]

It's not the lawyers' call.

Neither is it the administrator's.

It's the creditors' call.

Whenever they have their meeting....

I know that ..... :greengrin

[jacomo]

Because Brokeback is....well broke.

If talks were going to continue they "would have made a statement".

Let's hope the Lady is "not for Budging".

I wonder if they are still blaming us for their problems, or if Shoeless Bob and Pat the Plumber are back to the top of the list?

:greengrin

[StevieT]

I think this sums up today for them

http://www.youtube.com/watch?v=IUZkAzMgenw

[Weststandwanab]

£535,000 iirc Bang on the number - excuse the pun.


Just shows How out of touch The FOH are when there own twitter feed had the UKIO creditors meeting as underway as well. Foundation of Hearts ‏@The_FOH 3 hrs (https://twitter.com/The_FOH/status/453126693218418688)
UPDATE: we understand the UKIO meeting is being held today and has started. We will bring you news as we get it. Not be hearing much from them anytime soon then.


So, Sergey was 100% bang on about todays meetings (or lack thereof) .... :lolyam: I wonder if he/she has surfaced yet ?

[Dashing Bob S]

No statement because there was no meeting?

Unless, of course, you understand a meeting to mean Bryan Jackson waiting around outside the front door of the administrators and approaching anyone who emerges.

'Hiya pal, you're not by chance an administrator of Ukio bank are you?... yes, yes, your security guard has spoken to me already, it's just the thing is, I've sort of told people back in Edinburgh you guys were having a meeting today and I flew over here on the off chance... No, there's no need to call the police, I am leaving.'

He reminds me of myself as a youth, hanging outside record label offices in Soho trying to get the people going in and out to listen to my terrible demo tape.

[Keith_M]

What's with all the pink names looking at this thread?

Don't they have a more informed, up-to-the-minute, jealous-hobo-free site of their own to go to?

[Pete]

An excellent summary. They are on the ropes now and really need a big game-changer.

I'm not sure about these "talks continuing over the next few days" though.

I assume this is to try and get a meeting arranged and to rubbish the other alternatives to accepting the CVA?

[Dashing Bob S]

With Sergey and Bajillions not in the starting line up, and CWG used only sparingly, it feels like we've annihilated Kickback using our reserve side.

[Phil D. Rolls]

Bang on the number - excuse the pun.

Not be hearing much from them anytime soon then.

I wonder if he/she has surfaced yet ?

You're suggesting he is actually Vlad?

[Hibernia&Alba]

What's with all the pink names looking at this thread?

Don't they have a more informed, up-to-the-minute, jealous-hobo-free site of their own to go to?

Merely getting themselves accustomed to there being only one football club in Edinburgh to watch.

[Winston Ingram]

F off Hearts have spoken


Foundation of Hearts ‏@The_FOH 1m
UPDATE 2: UKIO formal creditors meeting DID NOT happen but positive discussions concluded. Formal meeting now expected by end of next week.

Foundation of Hearts ‏@The_FOH 3m
UPDATE 1: UBIG agreement in place for share transfer. 20 day cooling off period commences but not anticipating any problems.

End of next week:faf:

[Mikeystewart]

It's not the lawyers' call.

Neither is it the administrator's.

It's the creditors' call.

Whenever they have their meeting....

BBCBMcLauchlin
‏@BBCBMcLauchlin
Majority of UBIG creditors vote in favour of accepting deal for shares in Hearts.#bbcsportscot

Does this not mean the CVA has been approved by UBIG creditors i.e. safety?

no..?

[Winston Ingram]

With Sergey and Bajillions not in the starting line up, and CWG used only sparingly, it feels like we've annihilated Kickback using our reserve side.

:top marks

[Spike Mandela]

Foundation of Hearts (@The_FOH)
07/04/2014 15:23
UPDATE 1: UBIG agreement in place for share transfer. 20 day cooling off period commences but not anticipating any problems.

Download the official Twitter app here


Sent from my iPad

[Col2]

@The_FOH: UPDATE 1: UBIG agreement in place for share transfer. 20 day cooling off period commences but not anticipating any problems.

@The_FOH: UPDATE 2: UKIO formal creditors meeting DID NOT happen but positive discussions concluded. Formal meeting now expected by end of next week.

Whoops yet another delay and 10 days before next meeting (at best).

[Phil D. Rolls]

With Sergey and Bajillions not in the starting line up, and CWG used only sparingly, it feels like we've annihilated Kickback using our reserve side.

They have had to field a youth team, during the school holidays, whilst the adults are out selling cakes. They aren't making a big deal about it though, no excuses, nobodies fault but their own etc.

[Geo_1875]

https://twitter.com/jamb0skickback

Loving their naivety.

One saying the meeting has broken UP not broken DOWN, so that's good news.

Another saying they have UBIG's 50% shareholding so hertz will continue.

[Dashing Bob S]

I'm not sure about these "talks continuing over the next few days" though.

I assume this is to try and get a meeting arranged and to rubbish the other alternatives to accepting the CVA?

That seems logical. I think Jackson will know whether its worth trying to solider on for a bit (after all, their the matter of his fee) or if it's time to stop flogging this dead horse and call the big L. But he'll be an experienced enough operator to know whether the UKIOS lawyers are stringing him along or if they can deliver the creditors to his position within a suitable timescale.

[Mikey]

............but not anticipating any problems

I'm sure they've said that before :hilarious

[Phil D. Rolls]

@The_FOH: UPDATE 1: UBIG agreement in place for share transfer. 20 day cooling off period commences but not anticipating any problems.

@The_FOH: UPDATE 2: UKIO formal creditors meeting DID NOT happen but positive discussions concluded. Formal meeting now expected by end of next week.

Whoops yet another delay and 10 days before next meeting (at best).

But the FOH are just telling lies now. Why won't they just hold up their hands and admit defeat, don't they care about the rest of Scottish football, er, I mean it would be helpful to all if we could start planning for next season, er.......

[Dashing Bob S]

@The_FOH: UPDATE 1: UBIG agreement in place for share transfer. 20 day cooling off period commences but not anticipating any problems.

@The_FOH: UPDATE 2: UKIO formal creditors meeting DID NOT happen but positive discussions concluded. Formal meeting now expected by end of next week.

Whoops yet another delay and 10 days before next meeting (at best).

They are muppets, whom the Lithuanians are ripping the absolute pish out off.

[Onion]

I'm not sure about these "talks continuing over the next few days" though.

I assume this is to try and get a meeting arranged and to rubbish the other alternatives to accepting the CVA?

Or just as likely ...... there are no "talks" and it's simply BDO/Budgie buying enough time to get their story/excuses straight.

If/when BDO go out with the Big L announcement, all hell is going to break loose. They'll need to have some crumbs of comfort lined up for the Yam hordes... and be able to answer all the tough questions about DDs, ST's, staff, implications, next steps, rest of season games, etc etc. It has huge implications.

[Phil D. Rolls]

Or just as likely ...... there are no "talks" and it's simply BDO/Budgie buying enough time to get their story/excuses straight.

If/when BDO go out with the Big L announcement, all hell is going to break loose. They'll need to have some crumbs of comfort lined up for the Yam hordes... and be able to answer all the tough questions about DDs, ST's, staff, implications, next steps, rest of season games, etc etc. It has huge implications.

The more they string people along, the less credibility they have.

[Kaiser1962]

wish they'd hurry up and put the boot in, I'm off line in about 30 mins.

Library busy today Dan?

:greengrin

[Weststandwanab]

Surely no meeting now. Not till after the Easter hols at least. Which Easter ?


You're suggesting he is actually Vlad?No.


Foundation of Hearts (@The_FOH)
07/04/2014 15:23
UPDATE 1: UBIG agreement in place for share transfer. 20 day cooling off period commences but not anticipating any problems.

Download the official Twitter app here


Sent from my iPad BDO are not going to part with £50k of creditor's money for worthless shares unless they get UKIO shares too.

[MacBean]

So, given that today was the deadline for getting a deal settled suggested by BDO are we now looking at BDO pulling the plug and watching Hertz drain down the sinkhole?

This meeting that they speak off next week would take us to the start of the second week in June, I thought the cash was supposed to dry up at the end of April?

[Onion]

They are muppets, whom the Lithuanians are ripping the absolute pish out off.

Spot on with that. All the threats/noises coming from BDO was that the CVA had to be agreed today... or else. BDO now know how important they are to UKIO.

[green glory]

@The_FOH: UPDATE 3: major hurdles overcome today with one more to go.

I think they're passing the crack pipes round now.

[CropleyWasGod]

BBCBMcLauchlin
‏@BBCBMcLauchlin
Majority of UBIG creditors vote in favour of accepting deal for shares in Hearts.#bbcsportscot

Does this not mean the CVA has been approved by UBIG creditors i.e. safety?

no..?

No.

UBIG abstained in that vote. (Again, their administrator didn't have a mandate.)

This vote just means that they're happy with the money that FOH have offered.

[Stevie Reid]

With Sergey and Bajillions not in the starting line up, and CWG used only sparingly, it feels like we've annihilated Kickback using our reserve side.

A bit like Man Utd in the CL final minus Scholes and Keane

[GreenLake]

F off Hearts have spoken



End of next week:faf:

This delay should give Pat plenty of time to get a large wad rolled up and gazump the chumps.

[CropleyWasGod]

@The_FOH: UPDATE 3: major hurdles overcome today with one more to go.

I think they're passing the crack pipes round now.

Correction.

1 hurdle (singular) overcome today.

2 left.

Good stuff they're smoking.

[SuperAllyMcleod]

@The_FOH: UPDATE 1: UBIG agreement in place for share transfer. 20 day cooling off period commences but not anticipating any problems.

@The_FOH: UPDATE 2: UKIO formal creditors meeting DID NOT happen but positive discussions concluded. Formal meeting now expected by end of next week.



This from the jokers who thought a non-existent meeting had already started?

They do know that the end of next week is the Easter Weekend so hopefully a few of the prominent Creditors are taking advantage of the Bank Holidays to get a couple of weeks off and will be unavailable for meetings.:wink:

[Spike Mandela]

@The_FOH: UPDATE 3: major hurdles overcome today with one more to go.

I think they're passing the crack pipes round now.

Banderson school of spin. I wonder who does the FoH twitter feed? They sound like a politician.:rolleyes:

[Mikeystewart]

No.

UBIG abstained in that vote. (Again, their administrator didn't have a mandate.)

This vote just means that they're happy with the money that FOH have offered.

Why does it matter that they UBIG abstained from the vote.

So creditors being happy plus acceptance of the share transfer is not a position closer to safety? its quite hard keeping track.

[NOLA]

So ubig have agreed the transfer of their shares to bdo which will be rubber stamped once the 20 day cooling off period has passed, now hertz just waiting on ukio to agree to do the same which seems a formality to me, or have I missed something out?

[Mikey]

So ubig have agreed the transfer of their shares to bdo which will be rubber stamped once the 20 day cooling off period has passed, now hertz just waiting on ukio to agree to do the same which seems a formality to me, or have I missed something out?

If it's a formality, why didn't it happen today?

[Kaiser1962]

Blah blah. Need more time to assess rival bid. Blah blah.




Lets see if they can get their hands on the UIG shares before the UKIO meeting. Should at least test the "frozen shares" theory.

Or they could just throw the towel in now.

[Kaiser1962]

Correction.

1 hurdle (singular) overcome today.

2 left.

Good stuff they're smoking.

Congrats. You always said that UBIG approval would be the easiest of the three stages.

[persevere1875]

Sitting in a boozer in Cheltenham with another ardent hibby, can anyone please give me a simple and concise (or as near as damn it) update on whats happening with that shower and where we are in terms of the ticking time bomb, would hate to get my picture in the local paper for dancing down the street naked if its not worth celebrating :wink:

[Mikey]

Lets see if they can get their hands on the UIG shares before the UKIO meeting. Should at least test the "frozen shares" theory.

Or they could just throw the towel in now.

They've got to let the 20 day cooling off period pass before they can tackle the court hearing. 20 days is a long time in their situation.

[CropleyWasGod]

Why does it matter that they UBIG abstained from the vote.

So creditors being happy plus acceptance of the share transfer is not a position closer to safety? its quite hard keeping track.

It mattered at the time. Had they rejected the deal at that point, the deal would have been dead IMO. Had they accepted it (albeit without a mandate), we would have been in the same position now as we are with UKIO.

Now, with all that has gone on, that abstention is probably irrelevant.

All that happened today was that the UBIG creditors accepted some money for something which, arguably, is worth nothing. It's the smallest of the 3 hurdles that FOH had to jump over.

[JeMeSouviens]

They've got to let the 20 day cooling off period pass before they can tackle the court hearing. 20 days is a long time in their situation.

Presumably there will be another 20 days from the end of next week, assuming it's all green lights and rubber stamps from UKIO?

[GreenLake]

@The_FOH: UPDATE 1: UBIG agreement in place for share transfer. 20 day cooling off period commences but not anticipating any problems.

@The_FOH: UPDATE 2: UKIO formal creditors meeting DID NOT happen but positive discussions concluded. Formal meeting now expected by end of next week.

Whoops yet another delay and 10 days before next meeting (at best).

How long will the Ukio cooling off period be after their meeting, which is lightly penciled in to take place at the end of next week, almost 2 weeks away?

[jonty]

They've got to let the 20 day cooling off period pass before they can tackle the court hearing. 20 days is a long time in their situation.

20 working days or 20 normal days.

Even at nearly 3 weeks, that's pushing the April limit for BDOs cash. And of course ABs posturing yesterday that she would walk away if there was agreement was reached today.


BBCBMcLauchlin ‏@BBCBMcLauchlin · 20h
Ann Budge has intimated she is ready to walk away from deal to take over Hearts unless agreement is reached on Monday.#bbcsportscot

[stevejordan]

I Am fed up with this dragging on its clear that they are never going to get this rubber stamped get them Liquidated now Jackson.

[Corstorphine Hibby]

Foundation of Hearts (@The_FOH)
07/04/2014 15:23
UPDATE 1: UBIG agreement in place for share transfer. 20 day cooling off period commences but not anticipating any problems.




Does this mean the 20 day cooling off period has started from today ?

[Keith_M]

Sitting in a boozer in Cheltenham with another ardent hibby, can anyone please give me a simple and concise (or as near as damn it) update on whats happening with that shower and where we are in terms of the ticking time bomb, would hate to get my picture in the local paper for dancing down the street naked if its not worth celebrating :wink:

Both UKIO and UBIG Creditors were reportedly having meetings today (Barry Anderson). UBIG agreed to sell shares in Hearts to FoH (with 20 day cooling off period) but the UKIO Creditors Meeting was a figment of Barry's imagination. There may have been some meeting between BDO and UKIO Admin lawyers, but nobody is certain as no public announcement is to be made.


Is that concise enough?

:greengrin

[Hibby Kay-Yay]

They've got to let the 20 day cooling off period pass before they can tackle the court hearing. 20 days is a long time in their situation.

20 working days?

[Mikey]

Presumably there will be another 20 days from the end of next week, assuming it's all green lights and rubber stamps from UKIO?

Indeed. Once the rubber stamps and green lights that weren't used today get an airing..........

[Kaiser1962]

They're going round and round and round and round and round in circles.

I could be wrong but I have an inkling that things are just not panning out as expected. It could be me though.

[Spike Mandela]

20 working days or 20 normal days.

Even at nearly 3 weeks, that's pushing the April limit for BDOs cash. And of course ABs posturing yesterday that she would walk away if there was agreement was reached today.

They will spin it that agreement was reached today with UBIG.

[persevere1875]

Both UKIO and UBIG Creditors were reportedly having meetings today (Barry Anderson). UBIG agreed to sell shares in Hearts to FoH (with 20 day cooling off period) but the UBIG Creditors Meeting was a figment of Barry's imagination. There may have been some meeting between BDO and UKIO Admin lawyers, but nobody is certain as no public announcement is to be made.


Is that concise enough?

:greengrin

Bob on :wink: So basically at the moment I should keep my kecks on and await further announcements then eh !

[GreenPJ]

Sitting in a boozer in Cheltenham with another ardent hibby, can anyone please give me a simple and concise (or as near as damn it) update on whats happening with that shower and where we are in terms of the ticking time bomb, would hate to get my picture in the local paper for dancing down the street naked if its not worth celebrating :wink:

Quick update:

We have a very important game tonight

Hearts will probably survive in their current guise (or possibly not).

[Ryan91]

Banderson's at it again

From Twitter

"Talks today between BDO & Ukio Bankas on #HMFC shares were "positive & lengthy" I'm told. Talk of bigger cash offers unsettled Ukio slightly"

Er... hang on, thought there weren't any meetings between BDO an Ukio?

:faf:

[Bostonhibby]

If it's a formality, why didn't it happen today?

I am a simple soul, but is it because everything else that has gone before today is pretty much linked to what you can achieve through your spending power and political connections in the civil process but meantime there is a much deeper and longer lasting CRIMINAL process outstanding which means that a number of assets that were previously frozen will remain frozen whilst the criminal investigation remains outstanding?.

The log jam on the criminal investigation is our very own Hibs legend Vladimir Romanov not having the desire to return to Lithuania to face charges. Let's not forget his sister still owns 15% of them whatever happens and she is still ducking the same criminal warrants as the dear leader.

We are today approximately where Portsmouth were after they won the FA Cup. The real game is still on unless the Liths have decided that Romanovs crimes were less important than the Portsmouths owners were or the money laundering was of an inferior standard.

It's not over til the fat lady sings.

[Phil D. Rolls]

Quick update:

We have a very important game tonight

Hearts will probably survive in their current guise (or possibly not).

Quick update (2) Thread titles are an excellent way of telling where to post your thoughts on different subjects.

[GlasgowHibee]

Banderson's at it again

From Twitter

"Talks today between BDO & Ukio Bankas on #HMFC shares were "positive & lengthy" I'm told. Talk of bigger cash offers unsettled Ukio slightly"

Er... hang on, thought there weren't any meetings between BDO an Ukio?

:faf:

I think he was probably meaning the lawyers, they've still not met with the important people however.

:faf:

[persevere1875]

Bob on :wink: So basically at the moment I should keep my kecks on and await further announcements then eh !

I'm not suggesting I'm getting excited but ive undone my top button on the jeans just incase :greengrin

[Col2]

Banderson's at it again

From Twitter

"Talks today between BDO & Ukio Bankas on #HMFC shares were "positive & lengthy" I'm told. Talk of bigger cash offers unsettled Ukio slightly"

Er... hang on, thought there weren't any meetings between BDO an Ukio?

:faf:

But but but the hootsman is a hibby paper so cant believe anything...is that right yam lovers?

[Keith_M]

Bob on :wink: So basically at the moment I should keep my kecks on and await further announcements then eh !

Please note, I updated my post from

"...but the UBIG Creditors Meeting was a figment of Barry's imagination."

TO

"...but the UKIO Creditors Meeting was a figment of Barry's imagination."

------------------------------------------

I knew what I meant when I typed it but these UKIOs and UBIGs get confusing after a while :wink:

[Phil D. Rolls]

Banderson's at it again

From Twitter

"Talks today between BDO & Ukio Bankas on #HMFC shares were "positive & lengthy" I'm told. Talk of bigger cash offers unsettled Ukio slightly"

Er... hang on, thought there weren't any meetings between BDO an Ukio?

:faf:

He didn't say it was a meeting though, "talks" is something different.

[kdhibees1]

Jambos Kickback ‏@jamb0skickback (https://twitter.com/jamb0skickback) 1m (https://twitter.com/jamb0skickback/status/453186020599930880)
And there we go, that concludes CVA blether business for the day. Halfway there. We've waited months (years?) so a few days won't hurt.

Christ!! Wallopers, to a man!

[Pray4Marc]

Yams and roasters biting on https://twitter.com/MarcHryhorskyj

Comedy Gold.

[NOLA]

If it's a formality, why didn't it happen today?

Cos there wasn't a meeting?

[WindyMiller]

I am a simple soul, but is it because everything else that has gone before today is pretty much linked to what you can achieve through your spending power and political connections in the civil process but meantime there is a much deeper and longer lasting CRIMINAL process outstanding which means that a number of assets that were previously frozen will remain frozen whilst the criminal investigation remains outstanding?.

The log jam on the criminal investigation is our very own Hibs legend Vladimir Romanov not having the desire to return to Lithuania to face charges. Let's not forget his sister still owns 15% of them whatever happens and she is still ducking the same criminal warrants as the dear leader.

We are today approximately where Portsmouth were after they won the FA Cup. The real game is still on unless the Liths have decided that Romanovs crimes were less important than the Portsmouths owners were or the money laundering was of an inferior standard.

It's not over til the fat lady sings.


and she isn't due to arrive in the building for a couple of weeks.


:aok:

[Jack]

Both UKIO and UBIG Creditors were reportedly having meetings today (Barry Anderson). UBIG agreed to sell shares in Hearts to FoH (with 20 day cooling off period) but the UKIO Creditors Meeting was a figment of Barry's imagination. There may have been some meeting between BDO and UKIO Admin lawyers, but nobody is certain as no public announcement is to be made.


Is that concise enough?

:greengrin

Anyone think BDO meeting the UKIO lawyers could be the negotiations were around what happens next with the administration process?

With BDOs fees coming to a conclusion soon, end of month??? Extended deadlines UKIO meeting in 2 weeks plus 20 day cooling off period. Hertz cash running out in around 3 or 4 weeks.

Sounds like the perfect storm!

[Pete]

Cos there wasn't a meeting?

If it's a formality then why is nobody who actually matters coming out with statements saying that?

[Keith_M]

#allisbarry

[Hermit Crab]

If it's a formality then why is nobody who actually matters coming out with statements saying that?


Because they have the hearts fans believing that there was and there would be carnage.

[Pray4Marc]

#allisbarry


#AllisNOTBarry

[CropleyWasGod]

So ubig have agreed the transfer of their shares to bdo which will be rubber stamped once the 20 day cooling off period has passed, now hertz just waiting on ukio to agree to do the same which seems a formality to me, or have I missed something out?

UBIG agreed to transfer their (arguably worthless) shares for money.

UKIO's shares will be transferred (subject to Court approval) if their creditors agree to accept £2.5m for their debt of £15m, secured on a property which may be worth considerably more.

There's a big difference.

[Bostonhibby]

and she isn't due to arrive in the building for a couple of weeks.


:aok:

There's some people in Vlads' circles, and maybe even a bit nearer to home who are seriously exposed to significant criminal proceedings who really will be hoping something exceptional is done for this minor part of his money laundering empire. If it is then they can possibly rely on it as a precedent for other much, much bigger prosecutions not being pursued.

The yam end of the fraudulently used, funded or obtained asset is beer money compared to those still under investigation. If the Lith authorities don't want a straightforward cover up, or have bigger fish to fry then the question has to be why would the courts want to shoot themselves in the foot by releasing the yam shares from all of the assets frozen at the very beginning under the criminal enquiry? The only way to do it is prove that they are somehow different to the rest of the empire.

[RabMohr]

Why are BDO talking to Lawyers? Are the lawyers going to have a final say in what the creditors will decide or is it maybe some legal thing that BDO need to sort out?

[Bostonhibby]

UBIG agreed to transfer their (arguably worthless) shares for money.

UKIO's shares will be transferred (subject to Court approval) if their creditors agree to accept £2.5m for their debt of £15m, secured on a property which may be worth considerably more.

There's a big difference.

:agree: The difference between the sum on offer, less fees, and the real value of the whole asset if you liquidate it (if only they'd got a proper valuation).

Still doesn't amount to a hill of beans without those pesky shares. Obviously not the ones where the cash was put up but no certificates issued. Must be the longest deferral of issue after payment ever?

[gogsy23]

#allisspoutingpish

[Dashing Bob S]

Why are BDO talking to Lawyers? Are the lawyers going to have a final say in what the creditors will decide or is it maybe some legal thing that BDO need to sort out?

Got to be seen to be doing something to earn those fees, while at the same time racking them up.

[greenpaper55]

Sorry if this has been posted already but canny be arsed going back over all the pages there are so many

http://www.bbc.co.uk/sport/0/football/26916435

[jacomo]

With Sergey and Bajillions not in the starting line up, and CWG used only sparingly, it feels like we've annihilated Kickback using our reserve side.

Cav Green deserves a mention too, he's played a big role for us this season.

[jacomo]

If it's a formality, why didn't it happen today?

Dunno, but good to see your old avatar back!

[RabMohr]

Got to be seen to be doing something to earn those fees, while at the same time racking them up.

Good point Robert :thumbsup:

[CropleyWasGod]

Sorry if this has been posted already but canny be arsed going back over all the pages there are so many

http://www.bbc.co.uk/sport/0/football/26916435

Where to start with this.....:rolleyes:

Budge, the sole director of BIDCO, is offering around £2.5m for the Ukio shares.

[Sanger]

My source in Lith, the Bloomberg journalist, told me that the sticking point is that UKIO want more money - he did not say how much more. But reckons the £2.5 million is so far from what they could get from a liquidation sale and with the Budges fortune public and potrential fresh higher bids, BIDCO have to offer more. Makes sense in terms of the Budge threat.

[God Petrie]

My source in Lith, the Bloomberg journalist, told me that the sticking point is that UKIO want more money - he did not say how much more. But reckons the £2.5 million is so far from what they could get from a liquidation sale and with the Budges fortune public and potrential fresh higher bids, BIDCO have to offer more. Makes sense in terms of the Budge threat.

Hehe welcome back desantos

[Ozyhibby]

My source in Lith, the Bloomberg journalist, told me that the sticking point is that UKIO want more money - he did not say how much more. But reckons the £2.5 million is so far from what they could get from a liquidation sale and with the Budges fortune public and potrential fresh higher bids, BIDCO have to offer more. Makes sense in terms of the Budge threat.

:-)

[Spike Mandela]

My source in Lith, the Bloomberg journalist, told me that the sticking point is that UKIO want more money - he did not say how much more. But reckons the £2.5 million is so far from what they could get from a liquidation sale and with the Budges fortune public and potrential fresh higher bids, BIDCO have to offer more. Makes sense in terms of the Budge threat.

BDO trying their damndest to persuade everyone that UKIO will lose out if they don't accept FoH bid. This might work if UKIO sympathetic to Hearts' plight.

However with a 6.8m securiy held on Tynecastle logic instead of sentiment would suggest UKIO crazy not to chance their luck in a liquidation process.

Realistically what have they got to lose.

[Geo_1875]

My source in Lith, the Bloomberg journalist, told me that the sticking point is that UKIO want more money - he did not say how much more. But reckons the £2.5 million is so far from what they could get from a liquidation sale and with the Budges fortune public and potrential fresh higher bids, BIDCO have to offer more. Makes sense in terms of the Budge threat.

So if the CVA is rejected, £2.5m for shares in hertz and settlement of security over tynie, and they go to liquidation and get more than £2.5m purely for tynie does that mean hertz are worth less than zero.

Well everybody else gets there musical links in. :wink:

[Kato]

BIDCO have to offer more.


Are they allowed to offer more at this stage?

[Spike Mandela]

Are they allowed to offer more at this stage?

Can they afford to?

[CropleyWasGod]

Are they allowed to offer more at this stage?

1. BIDCO aren't doing the bidding.

2. a revised CVA would have to be put to all creditors, IMO, and BDO don't have the time or the money to do that.

[CapitalGreen]

Are they allowed to offer more at this stage?

They would be required to prepare a new CVA which would take time.

[Hank Schrader]

That'll be a formality. It was too hopeful that they'd be liquidated. Hopefully we stay up and can watch them struggle for a few years in the division below.

Absolutely Steve, it was such a formality its been put off until the end of next week. :aok:

[Sanger]

1. BIDCO aren't doing the bidding.

2. a revised CVA would have to be put to all creditors, IMO, and BDO don't have the time or the money to do that.

BDO basically saying to UKIO this is the best you'll get from BIDCO which is the same as Budge's threat. UKIO must be debating is there an alternative that would get us more money - a new bid from some other party or liquidation.

Contact is going to do more digging. Hopefully, have something more tomorrow morning.

[Phil D. Rolls]

So if the CVA is rejected, £2.5m for shares in hertz and settlement of security over tynie, and they go to liquidation and get more than £2.5m purely for tynie does that mean hertz are worth less than zero.

Well everybody else gets there musical links in. :wink:

They have been worth -9, since 3 pm today. Cowboys!

[CropleyWasGod]

BDO basically saying to UKIO this is the best you'll get from BIDCO which is the same as Budge's threat. UKIO must be debating is there an alternative that would get us more money - a new bid from some other party or liquidation.

Contact is going to do more digging. Hopefully, have something more tomorrow morning.

BIDCO aren't doing the bidding, though. :wink:

[jacomo]

http://www.edinburghnews.scotsman.com/sport/football/hearts/gary-mackay-hearts-dignity-remains-intact-1-3367656

Medals McKay thinks Hearts should be proud of the way they've conducted themselves this season...

To be fair, Gary Locke hasn't moaned about the situation, but Billy Brown and dignity?? Are you quite sure??

http://www.dailyrecord.co.uk/sport/football/football-news/hearts-assistant-billy-brown-transfer-2984555

[Phil D. Rolls]

So if the CVA is rejected, £2.5m for shares in hertz and settlement of security over tynie, and they go to liquidation and get more than £2.5m purely for tynie does that mean hertz are worth less than zero.

Well everybody else gets there musical links in. :wink:


http://www.edinburghnews.scotsman.com/sport/football/hearts/gary-mackay-hearts-dignity-remains-intact-1-3367656

Medals McKay thinks Hearts should be proud of the way they've conducted themselves this season...

To be fair, Gary Locke hasn't moaned about the situation, but Billy Brown and dignity?? Are you quite sure??

http://www.dailyrecord.co.uk/sport/football/football-news/hearts-assistant-billy-brown-transfer-2984555

No Gary has made no excuses at all. :fibber:

[Hermit Crab]

Where to start with this.....:rolleyes:

Budge, the sole director of BIDCO, is offering around £2.5m for the Ukio shares.


Not going to panic if they get a bad outcome on the 8th April?

We got preferred bidder status back at the start of August.
"The CVA (Company Voluntary Arrangement) proposal was agreed at the Hearts CVA meetings in November, so we've gone through a tremendous process here.
"And it's quite unhelpful to have interjections at the 11th hour. This is dire for the club if the outcome is not positive."

UBIG creditors are set to receive a much smaller sum of between £50,000 and £100,000 following the statutory 20-day notice period.

[Bostonhibby]

My source in Lith, the Bloomberg journalist, told me that the sticking point is that UKIO want more money - he did not say how much more. But reckons the £2.5 million is so far from what they could get from a liquidation sale and with the Budges fortune public and potrential fresh higher bids, BIDCO have to offer more. Makes sense in terms of the Budge threat.

Tell your contact to save a bit of time and steer clear of anything bidco related.

[Kato]

They would be required to prepare a new CVA which would take time.

Tee hee. I knew the answer, sort of, but its fun asking questions the answer to which you is uncomfortable for the flumps reading here. (Hiya, Flumps)

[Phil D. Rolls]

http://www.edinburghnews.scotsman.com/sport/football/hearts/gary-mackay-hearts-dignity-remains-intact-1-3367656

Medals McKay thinks Hearts should be proud of the way they've conducted themselves this season...

To be fair, Gary Locke hasn't moaned about the situation, but Billy Brown and dignity?? Are you quite sure??

http://www.dailyrecord.co.uk/sport/football/football-news/hearts-assistant-billy-brown-transfer-2984555

MacKay says that their dignity is intact? Maybe to a guy who will do anything to be heard, like GM. But the last time I looked, going bankrupt, losing your stadium and name, not to mention cheating people out of money, isn't what I'd call dignity.

[StevieC]

They would be required to prepare a new CVA which would take time.

How long would it take to tippex out the "2" in the "£2.5m" and replace it with a "3" ... and then a "4" ... and then ... :wink:

[GlasgowHibee]

Apologies for not posting this earlier but there has been difficulties getting on to Kickback this afternoon. Just shows you how important a service it provides. We are obviously disappointed that both creditors meetings for UKIO and UBIG did not take place. However, the positive news about the UBIG creditors meeting agreeing the transfer of their 50% shareholding in Hearts is a significant step forward. This should not be underestimated. We understand that lengthy discussions have taken place between Hearts Administrators, BDO, and the lawyers administrating Ukio Bankas. The outcome of these discussions were positive and it is hoped that a Ukio creditors meeting will take place before the end of next week (Easter). It has transpired that there was not to be a formal Ukio creditors meeting today so nothing has been delayed or postponed. The date will be set shortly. We are working on the information as we receive it.

We have taken a huge step towards delivering the Creditors Voluntary Agreement (CVA) today and, to use a football analogy, we would have taken this result before the game. However, we do appreciate how frustrating this is for the supporters and for everyone connected to the Club. We would have wanted a final conclusion. One major hurdle has been cleared with one to go.

We will continue to work closely with BDO and BIDCO to get this deal over the line as quickly as possible and thank all the supporters for their continued patience at this time.

Tonight Hearts is much closer to being out of administration than it was yesterday. It is a considerable achievement to have got this far. We thank BDO and the teams at UKIO Bankas and UBIG for their sterling efforts and look forward to a positive outcome as soon as possible. I, and FoH, will provide as much information as we can in the coming days.


I am an MP post from KB, some very pleasing points in there.

Most notably the, "it has transpired" sentence.

:top marks

[Keith_M]

BDO basically saying to UKIO this is the best you'll get from BIDCO which is the same as Budge's threat. UKIO must be debating is there an alternative that would get us more money - a new bid from some other party or liquidation.

Contact is going to do more digging. Hopefully, have something more tomorrow morning.


Do you really have a contact in Lithuania?

[Sanger]

Yes one of the Bloomberg reporters.

[Aldo]

No long in from work and boy it loos like I e missed a very very interesting afternoon. Not to mention loads of fun.

Just had my dad on phone and he says "son wouldn't it be funny if they went pop tomorrow"
Indeed it would as it's his 70th birthday (7-0)

[Phil D. Rolls]

No long in from work and boy it loos like I e missed a very very interesting afternoon. Not to mention loads of fun.

Just had my dad on phone and he says "son wouldn't it be funny if they went pop tomorrow"
Indeed it would as it's his 70th birthday (7-0)

They have certainly had it roond them several times. :greengrin

[greenginger]

Yes one of the Bloomberg reporters.


Would that be Bryan Bradley ?

[GreenLake]

How long would it take to tippex out the "2" in the "£2.5m" and replace it with a "3" ... and then a "4" ... and then ... :wink:

They used all the blu tack and tippex to overwrite Ukio Bancas with Wonga on their turd coloured shirts.

[jacomo]

MacKay says that their dignity is intact? Maybe to a guy who will do anything to be heard, like GM. But the last time I looked, going bankrupt, losing your stadium and name, not to mention cheating people out of money, isn't what I'd call dignity.

I think that, in a very narrow Stevie Fail sense, if you choose your own parameters (look it up Fail!) and ignore the creditors, the hubris, the Big Team bragging, and ignore McKay, Billy Broon, the repeated pleading with the SFA to break the rules they themselves voted for, and the way they have presented a take over proposal from a wealthy individual as supporter ownership, then... yes, perhaps you can say they've behaved with a bit of dignity.

[Seveno]

No long in from work and boy it loos like I e missed a very very interesting afternoon. Not to mention loads of fun.

Just had my dad on phone and he says "son wouldn't it be funny if they went pop tomorrow"
Indeed it would as it's his 70th birthday (7-0)

Please wish your Dad a very, very, very happy birthday.

[Aldo]

They have certainly had it roond them several times. :greengrin

Indeed. Tell you what though if banderson told be the sky was blue and the grass was green I'd still check to make sure.

[jonty]

I think IM ImAnMP will find that hibs.net offers a far more valuable and accurate service which also doesn't fall flat on its arse with a few thousand visitors.

[jacomo]

I am an MP post from KB, some very pleasing points in there.

Most notably the, "it has transpired" sentence.

:top marks

See if I was him, I'd be trying to dampen expectations right now... stop talking about 'significant steps forward' and stressing the difficulties in doing a deal.

But then, who's his audience here? The great unwashed? The Diddies? Ann Budge?

[Aldo]

Please wish your Dad a very, very, very happy birthday.

I will indeed. Very good Hibs man (and Newcastle).

[Phil D. Rolls]

See if I was him, I'd be trying to dampen expectations right now... stop talking about 'significant steps forward' and stressing the difficulties in doing a deal.

But then, who's his audience here? The great unwashed? The Diddies? Ann Budge?

They surely don't think Budge is buying all this cloak and dagger ****, do they?

I think it's a matter of time till they start talking about a man in a black cloak standing at the end of the street.

[Baw187]

I thought this UKIO administrator gadge said he expected the CVA to be finalised today?? Even though there was no creditor's meeting planned??

So he's pretty much outed himself as a slavouring ****.

Basically the Liths are seriously taking the pish big style!

[jacomo]

They surely don't think Budge is buying all this cloak and dagger ****, do they?

I think it's a matter of time till they start talking about a man in a black cloak standing at the end of the street.

Who knows?

Was Ann Budge trying to force through the CVA? Or is she genuinely getting cold feet at the thought she could now be left with a loss-making basket case of a football club?

If it's the latter, FoH need to do all they can to convince her a deal is imminent and all will be fine. You'd think she'd have her own people involved by now though.

[marti1875]

My god....STV news just announcing they are almost there and great news today....completely missing the point that UKIO meeting did not even take place, never mind get a decision!! ha ha :greengrin

[Hibs7]

My god....STV news just announcing they are almost there and great news today....completely missing the point that UKIO meeting did not even take place, never mind get a decision!! ha ha :greengrin

BBC doing the same. .. Poor poor journalism, but what do you expect from these amateur Scottish supposed news networks !!

[Jim44]

My god....STV news just announcing they are almost there and great news today....completely missing the point that UKIO meeting did not even take place, never mind get a decision!! ha ha :greengrin

Same with the BBC .................... 'new hope' after today's meeting. No mention of the second meeting not materialising or of the anti climax when they discovered that allwasnotreallybarry

[jodjam]

My god....STV news just announcing they are almost there and great news today....completely missing the point that UKIO meeting did not even take place, never mind get a decision!! ha ha :greengrin

And then a sparryheed on stv news in his mums maroon blouse saying they will shortly be fan owned

[Swedish hibee]

Are they finished yet??

[Dashing Bob S]

They surely don't think Budge is buying all this cloak and dagger ****, do they?

I think it's a matter of time till they start talking about a man in a black cloak standing at the end of the street.

Budge has acted in good faith and has probably drawn a line in the sand regarding the extent of her involvement. I can't see her being dragged into 'what if' games of scamming and delays.

[Sanger]

Would that be Bryan Bradley ?

There is more than one journalist on the desk in a Lithuania but he is one of them.

[HIBERNIAN-0762]

Such lazy journalism beggars belief at times :confused:

We should send them a .net link to keep them up to date!

:agree:

[Sanger]

My god....STV news just announcing they are almost there and great news today....completely missing the point that UKIO meeting did not even take place, never mind get a decision!! ha ha :greengrin

Yes AFP reported it hanging in the balance early afternoon.

[HiBremian]

Such lazy journalism beggars belief at times :confused:

We should send them a .net link to keep them up to date!

:agree:

http://news.stv.tv/east-central/270818-hearts-takeover-chief-hails-hugely-positive-day-but-deal-only-half-done/

Seems to be based on whatever Ian Murray says. Much cheaper journalism than actually investigating.


Sent from my iPad using Tapatalk

[DaveF]

"Tazio, on 06 April 2014 - 07:10 PM, said:
He is back from New York. My source is impeccable."

http://finance.yahoo.com/news/rt-hon-alex-salmond-msp-061000794.html

Dear Tazio - I assume your source wasn't that impeccable after all? Or did Alex teleport to Lithuania soon after his engagement in NY.

[Kato]

And then a sparryheed on stv news in his mums maroon blouse saying they will shortly be fan owned

( Kato favourited this post )

[Just Alf]

I think IM ImAnMP will find that hibs.net offers a far more valuable and accurate service which also doesn't fall flat on its arse with a few thousand visitors.

Hang fire.... He's not paid the £5 over there, can't see him paying £10 :lol yam:

[Waxy]

I'm surprised they haven't put an appeal in against relegation.

[Kato]

I'm surprised they haven't put an appeal in against relegation.

"If it wizny fur...(Insert excuse here).

[BroxburnHibee]

My source in Lith, the Bloomberg journalist, told me that the sticking point is that UKIO want more money - he did not say how much more. But reckons the £2.5 million is so far from what they could get from a liquidation sale and with the Budges fortune public and potrential fresh higher bids, BIDCO have to offer more. Makes sense in terms of the Budge threat.

Why don't you just bolt - no sign off you for ages now yer back pretending you've got a contact who basically repeats everything thats already been said on here.

You're full of the proverbial ****

[marti1875]

Yes AFP reported it hanging in the balance early afternoon.

eh? excuse my ignorance but what exactly was "hanging in the balance" this afternoon ?

There seems to have been NO UKIO creditors meeting of any sort whatsoever? All that happened was BDO had a meeting with UKIO lawyers which is a far cry from the UKIO creditors meeting that was allegedly taking place and making it all final?

I'm sure you will correct me with your so far baffling posts on this thread over the last few months :greengrin

[stoneyburn hibs]

Why don't you just bolt - no sign off you for ages now yer back pretending you've got a contact who basically repeats everything thats already been said on here.

You're full of the proverbial ****

Get of the fence and tell him what you really think.

[Dashing Bob S]

Why don't you just bolt - no sign off you for ages now yer back pretending you've got a contact who basically repeats everything thats already been said on here.

You're full of the proverbial ****

Thankfully the tea I just spat out missed the keyboard.

[Zazu62]

Didn't desantos predict a rosey c.v.a completion? Now he's going for the big L again?

[CropleyWasGod]

There is more than one journalist on the desk in a Lithuania but he is one of them.

It was Bradley who reported that the shares are frozen. So far, he's the only journalist to mention them.

http://www.bloomberg.com/news/2013-04-12/hearts-sale-plan-derailed-as-lithuania-freezes-romanov-s-assets.html

Quote:- The assets of Ukio Banko Investicine Grupe, or UBIG, through which Romanov controls 79 percent of Hearts in Edinburgh, were blocked yesterday in the course of a lawsuit against the Russian-born investor and his sister, Olga Goncaruk, Kaunas District Court said today on its website.

“Any sale or transfer” of UBIG’s shares in Hearts or its other property “is forbidden,” Gintare Putnikiene, a spokeswoman for the court in Kaunas said by phone today.

[Sanger]

Why don't you just bolt - no sign off you for ages now yer back pretending you've got a contact who basically repeats everything thats already been said on here.

You're full of the proverbial ****
Well nothing was happening - you can't waste your whole life talking about speculation. Where else today is there any detail of why UKIO meeting was adjourned. There is only speculation. I suppose you'll be turning on the team tonight if it's not going the way you want . Grow up will you!

[Sanger]

eh? excuse my ignorance but what exactly was "hanging in the balance" this afternoon ?

There seems to have been NO UKIO creditors meeting of any sort whatsoever? All that happened was BDO had a meeting with UKIO lawyers which is a far cry from the UKIO creditors meeting that was allegedly taking place and making it all final?

I'm sure you will correct me with your so far baffling posts on this thread over the last few months :greengrin
Of course it's hanging in the balance if one part has accepted and the other that has agreed in principal has not rubber stamped it yet. You telling me your 100% certain they won't accept? Get in the real world!

[clerriehibs]

The one and only

If you're a colleague of banderson, can you not give us a running commentary on his,hopefully pitiful, profile in the office?

[Sanger]

Didn't desantos predict a rosey c.v.a completion? Now he's going for the big L again?

I think time is working against a CVA. You change your conclusion based on new evidence. If you stick your head in the sand you are going to be disappointed. Better to face up to reality.

[GreenLake]

Of course it's hanging in the balance if one part has accepted and the other that has agreed in principal has not rubber stamped it yet. You telling me your 100% certain they won't accept? Get in the real world!

They will possibly accept but then there will be a next step of ratification - or in other words unfreezing the shares.

[Ozyhibby]

Why don't you just bolt - no sign off you for ages now yer back pretending you've got a contact who basically repeats everything thats already been said on here.

You're full of the proverbial ****

Bit harsh. There are loads of folk on here that I think talk mince and loads more that think I talk mince but we don't all go telling each other to P off.
Guy just offering some info and opinion.

[Sanger]

They will possibly accept but then there will be a next step of ratification - or in other words unfreezing the shares.

Agree time is against them. I hoped they get L'lled. I hate them too! I 'll be having a big party in My flat!

[Titch]

Did Budgie not say if they didn't give her an answer today she was walking away?

We'll see if she's full of S****

[Jim44]

They will possibly accept but then there will be a next step of ratification - or in other words unfreezing the shares.

C'mon desantos, explain to him that the shares aren't frozen, after all. :rolleyes:

[marti1875]

Of course it's hanging in the balance if one part has accepted and the other that has agreed in principal has not rubber stamped it yet. You telling me your 100% certain they won't accept? Get in the real world!

I think looking at your past record of amazing u-turns it should really be yourself who gets in to the "real world" :confused:

There was only one thing hanging in the balance today and that was the UBIG meeting, which, we basically knew was the one that was much more likely to be passed so you could hardly pass that as hanging in the balance at all.

As there was NO creditors meeting scheduled whatsoever from UKIO and no meeting took place there was nothing from this hanging in the balance whatsoever as it was not even scheduled to even take place!! My god.......hard work or what but you carry on anyway......

Dear oh dear.

[Sanger]

Bit harsh. There are loads of folk on here that I think talk mince and loads more that think I talk mince but we don't all go telling each other to P off.
Guy just offering some info and opinion.

Thanks pal. Think the main thing is the Liths don't care a toss about Hearts. They know there's no money at the end of this trail. There are more interested in some of the other trails of Vlad's money. They are in no rush to help a wee football team in Scotland whose taken £70m off them. There energy is devoted to recovering money elsewhere. That us going to work against the BDO and means big L on the cards. That's from last conversation from my contact in Lith about 5pm today. More in the morning. Off to ER now.

[Zazu62]

I think time is working against a CVA. You change your conclusion based on new evidence. If you stick your head in the sand you are going to be disappointed. Better to face up to reality.

Sound pal.

[CropleyWasGod]

Thanks pal. Think the main thing is the Liths don't care a tosh about Hearts. They know there's no money at the end of this trail. There are more interested in some of the other trails of Vlad's money. They are in no rush to help a wee football team in Scotland whose taken £70m off them. There energy is devoted to recovering money elsewhere. That us going to work against the BDO and means big L on the cards. That's from last conversation from my contact in Lith about 5pm today. More in the morning. Off to ER now.

Whilst I can appreciate that you may have missed my point the first time around (I do it myself), I have now mentioned twice that Bryan Bradley is of the opinion that the shares were frozen a year ago. You have answered everyone else, bar me.

Can you clarify this in the morning?

[Keith_M]

Whilst I can appreciate that you may have missed my point the first time around (I do it myself), I have now mentioned twice that Bryan Bradley is of the opinion that the shares were frozen a year ago. You have answered everyone else, bar me.

Can you clarify this in the morning?


Only once he's been in touch with his contact in Lithuania.

[Ronniekirk]

Did Budgie not say if they didn't give her an answer today she was walking away?

We'll see if she's full of S****

we all knew she wouldn't at this stage hence talks on going

[Ozyhibby]

we all knew she wouldn't at this stage hence talks on going

Everybody at the table now knows she is bluffing.

[Aldo]

This is taking TIME and for me the more TIME the better cos TIME is not on their side.

Those half wits on Brokeback Thot they had it in the bag but now they have to wait.

Pleasing.

[brog]

I posted a few days ago the only thing certain re today's supposed meeting was that nothing would be certain after it. Think I got that one right!

[greengnome]

Everybody at the table now knows she is bluffing.

Probably cost her a few more quid now... :na na: :flag:

[Ozyhibby]

I posted a few days ago the only thing certain re today's supposed meeting was that nothing would be certain after it. Think I got that one right!

I've added you to my list of ITK posters.
:-)

[Sanger]

Whilst I can appreciate that you may have missed my point the first time around (I do it myself), I have now mentioned twice that Bryan Bradley is of the opinion that the shares were frozen a year ago. You have answered everyone else, bar me.

Can you clarify this in the morning?

I'll ask him in the morning when I speak to him.

[CapitalGreen]

I'll ask him in the morning when I speak to him.

Please pass on my regards

[Greenworld]

Ok just of the phone here is the truth....things not looking
great Bdo to continue to push but looks to be a real gap in discussions now
Talks to be held over the next few days but it will not
Drag on much longer.
Feeling from hearts end is not good now.
Looks like the the .net were right all a long

[God Petrie]

Ok just of the phone here is the truth....things not looking
great Bdo to continue to push but looks to be a real gap in discussions now
Talks to be held over the next few days but it will not
Drag on much longer.
Feeling from hearts end is not good now.
Looks like the the .net were right all a long

Just off the phone to who?

[FitbaFolkKen]

Just off the phone to who?

Desantos :devil:

[BarneyK]

Ok just of the phone here is the truth....things not looking
great Bdo to continue to push but looks to be a real gap in discussions now
Talks to be held over the next few days but it will not
Drag on much longer.
Feeling from hearts end is not good now.
Looks like the the .net were right all a long

Just off the phone with who exactly? Was it The Samaritans cos you were thinking about slitting your wrists earlier...

[CropleyWasGod]

Just off the phone to who?

Whom, please.

Let's keep our standards up.

[sleeping giant]

Ok just of the phone here is the truth....things not looking
great Bdo to continue to push but looks to be a real gap in discussions now
Talks to be held over the next few days but it will not
Drag on much longer.
Feeling from hearts end is not good now.
Looks like the the .net were right all a long

Ok , i'll say it !

P1sh :cb

[Greenworld]

Whom, please.

Let's keep our standards up.

Cant say in open pm me ill tell you

[Greenworld]

Just off the phone with who exactly? Was it The Samaritans cos you were thinking about slitting your wrists earlier...

I was but feel a lot better now :greengrin

[sleeping giant]

Right , fleeting venture into the fitba is over. Now time to get back to the stuff that actually matters :greengrin

[BarneyK]

I was but feel a lot better now :greengrin

Not been following the game like :greengrin

[The_Todd]

Ok just of the phone here is the truth....things not looking
great Bdo to continue to push but looks to be a real gap in discussions now
Talks to be held over the next few days but it will not
Drag on much longer.
Feeling from hearts end is not good now.
Looks like the the .net were right all a long

Is this a poem?

[Greenworld]

Just off the phone with who exactly? Was it The Samaritans cos you were thinking about slitting your wrists earlier...

I was but feel a lot better now :greengrin

[HiBremian]

Right , fleeting venture into the fitba is over. Now time to get back to the stuff that actually matters :greengrin

£10 a year for hibs.net
£150 a year for Hibs TV

I know which is better value :cb

[Greenworld]

Not been following the game like :greengrin

Oh yes I watched it usual pishhhhhhh

[Greenworld]

Not been following the game like :greengrin

Oh yes I watched it usual pishhhhhhh

[GreenOnions]

Whom, please.

Let's keep our standards up.

Being really pedantic .............. "Let's keep up our standards" ....... :-/

[CropleyWasGod]

Being really pedantic .............. "Let's keep up our standards" ....... :-/

:na na:

[Sergey]

Being really pedantic .............. "Let's keep up our standards" ....... :-/

:rules: No flag debates!

[GreenOnions]

:rules: No flag debates!

:tee hee:

[jacomo]

:rules: No flag debates!

You're back. Good day?

No one in Edinburgh is having a party tonight, that's for sure.

[Sergey]

You're back. Good day?

No one in Edinburgh is having a party tonight, that's for sure.

I need a few hours to catch up. I see Kickback is off-line, so I can't read their 'it's in the bag' and 'done deal' posts.

No doubt The Gasman's thumbs have been amputated to stop him making a bigger cock of himself.

More later.

[weecounty hibby]

:rules: No flag debates!

When I saw you had posted tonight I was hoping you had some good news for us from Lithuania. Please!!!

[monktonharp]

Why are they so shy about reporting the truth. "A meeting" is not the same as "the meeting", if you catch my drift. It could be an official, or unofficial meeting; it could be scheduled unscheduled; it could be real, or imaginary.this could have quite easily been a splinter group meeting:wink:

[FranckSuzy]

Is this a poem?

:tee hee:

[monktonharp]

Be interesting to see what footage BBC can provide from the meeting this morning.the BBC have wasted liscense payers money again, sending some trumpet to get the news. he's come back with a fairy story, about a club which is heading to oblivion, and yet he portrays them as some kind of victim. they'd be better sending journos out into the real world, like Rwanda, Nigeria or maybe Crimea .

[greenginger]

the BBC have wasted liscense payers money again, sending some trumpet to get the news. he's come back with a fairy story, about a club which is heading to oblivion, and yet he portrays them as some kind of victim. they'd be better sending journos out into the real world, like Rwanda, Nigeria or maybe Crimea .


Or, while he is in Lithuania the reporter could interview a few pensioners who seen Vlad blow their savings on mad-cap projects including some obscure Edinburgh football team.

He might be surprised, and find out who the victims really are.

[Sergey]

When I saw you had posted tonight I was hoping you had some good news for us from Lithuania. Please!!!

I think you might find that Brian Jackson and the BDO team didn't even have the pleasure of meeting Gintaras Adomonis today - he was seemingly in Klaipėda working on another case.

Hence the reason why there was no statement from either party.

I also read that the meeting of Ukio creditors is scheduled for next Friday - good luck with that one, as it's the Easter holiday and Lithuania will be shut from Thursday to Tuesday.

One day off the forum and way too much to catch up on :greengrin

Edit - I stated another case - it may be concerning an Ukio creditor.

[livi hibs 1875]

Magic any more ha ha ha
I think you might find that Brian Jackson and the BDO team didn't even have the pleasure of meeting Gintaras Adomonis today - he was seemingly in Klaipėda working on another case.

Hence the reason why there was no statement from either party.

I also read that the meeting of Ukio creditors is scheduled for next Friday - good luck with that one, as it's the Easter holiday and Lithuania will be shut from Thursday to Tuesday.

One day off the forum and way too much to catch up on :greengrin

Edit - I stated another case - it may be concerning an Ukio creditor.

[poolman]

:rules: No flag debates!



What about calendar threads :greengrin

[greenginger]

I think you might find that Brian Jackson and the BDO team didn't even have the pleasure of meeting Gintaras Adomonis today - he was seemingly in Klaipėda working on another case.

Hence the reason why there was no statement from either party.

I also read that the meeting of Ukio creditors is scheduled for next Friday - good luck with that one, as it's the Easter holiday and Lithuania will be shut from Thursday to Tuesday.

One day off the forum and way too much to catch up on :greengrin

Edit - I stated another case - it may be concerning an Ukio creditor.

I wonder if Jackson will be billing two wasted days at £ 400/hour to administration costs.

[Sergey]

I wonder if Jackson will be billing two wasted days at £ 400/hour to administration costs.

And what's that divot from the BBC on per day?

They really thought there was going to be breaking news?

I very much doubt said divot speaks one word of Lithuanian (neither do I, may I add) and he's probably had to sit through a legal process not knowing what the **** was occurring. Then has to tweet the outcome.

You honestly couldn't make this sort of **** up.

[GreenLake]

Or, while he is in Lithuania the reporter could interview a few pensioners who seen Vlad blow their savings on mad-cap projects including some obscure Edinburgh football team.

He might be surprised, and find out who the victims really are.

That would be real journalism which I suspect he forgot about sometime in the distant past.

[Hermit Crab]

Ok just of the phone here is the truth....things not looking
great Bdo to continue to push but looks to be a real gap in discussions now
Talks to be held over the next few days but it will not
Drag on much longer.
Feeling from hearts end is not good now.
Looks like the the .net were right all a long

Tell you what, this post has potential to come back and bite you in the erchie

[Hermit Crab]

Ok , i'll say it !

P1sh :cb

Agree

[Bishop Hibee]

From the Gasman himself:

"Ukio agreed a CVA in November, conditional upon the transfer of UBIG's shareholding.
Today UBIG agreed to that transfer, so the legally binding CVA is now in place.
Ukio's creditors meeting is a legal formality to ratify that decision, and is expected by the end of next week."

No problems there then.

[bingo70]

Any chance of anything happening today?

Hearts demise is the only enjoyment im getting out football these days

[Jim44]

Any chance of anything happening today?

Hearts demise is the only enjoyment im getting out football these days

BBC saying BDO have approached the SPFL to see if they can get early payment of cash due to them. I'll be amazed if they get it without good assurance from the Liths that the shares will definitely be transferred in the not too distant future. But if the Liths could do that, why the present delay?


PS - Mistake corrected.

[Mikey]

Any chance of anything happening today?

Hearts demise is the only enjoyment im getting out football these days

Wouldn't think so. They'll be trying to work out their next move, if they have one!

Time is against them though so it's not impossible that they'll spring Liquidation on us at some point. My money would still be on mid May though.

[Weststandwanab]

Wouldn't think so. They'll be trying to work out their next move, if they have one!

Time is against them though so it's not impossible that they'll spring Liquidation on us at some point. My money would still be on mid May though. Monday/Tuesday 12/13th May would be my bet.

[KdyHby]

Monday/Tuesday 12/13th May would be my bet.

Not the 1-5th of May as one last show of defiance?