Share Transfers Agreed/Cooling off period

[Glesgahibby]

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.
The best bit was FOH and I'm an MP where following and quoting his tweets.
You missed a fun packed thread yesterday,it was a hoot with a tad nannie thrown in.
The best bit was "no UKIO creditors meeting"hmm and this was the meeting that on
Kickinthesack was causing so many of there members to quote they had "sleepless night" and "been jobbying all morning".It now transpires,no meeting = allsbarry again:agree:

[Glesgahibby]

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
And to think I thought you could have been a yam undercover:greengrin

[greenginger]

BBC saying BDO have approached the Liths 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?


Where to BDO expect the cash to come from ?

The Tynecastle Kitty is empty, I don't think Budge will put money in until the ink is 100% dry on everything, that only leaves the Lith admin.to hand over some of cash gathered in Lithuania.

Not very likely.

[Weststandwanab]

Not the 1-5th of May as one last show of defiance? It could be but as BDO will pick the date - subject to Court approval - it is unlikely unless BJ is keeping it green.

[Moulin Yarns]

BBC saying BDO have approached the Liths 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?

You mean the SPFL, not the Liths

[greenginger]

You mean the SPFL, not the Liths


Ah ! so it is cash for the Yams, not to keep BDO going.

They must have laid out a few bob on travel expenses. I wonder if he flies business class ? :greengrin

[s.a.m]

Where to BDO expect the cash to come from ?

The Tynecastle Kitty is empty, I don't think Budge will put money in until the ink is 100% dry on everything, that only leaves the Lith admin.to hand over some of cash gathered in Lithuania.

Not very likely.

I'm probably just having a excess of financial info induced memory-lapse, but why would the Liths be due them money??

Edit: Just read GF's post...

[Hermit Crab]

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.

Seems plausible.

[greenginger]

Vlad's been lifted !


http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dukio%2Bbankas%2B15min%26client%3Dfire fox-a%26hs%3Dhdn%26rls%3Dorg.mozilla:en-US:official%26channel%3Dsb&rurl=translate.google.com&sl=lt&u=http://www.15min.lt/naujiena/aktualu/lietuva/maskvoje-sulaikytas-bankrutavusio-ukio-banko-savininkas-vladimiras-romanovas-56-418074&usg=ALkJrhhevvkYyON8OLzZwAv6aR1RLxyrQw

Our Prince has been nabbed.

[Spike Mandela]

Wouldn't surprise me if the SPFL have advised them to make this approach. Personally think it should be held back to pay their football debt in the event of liquidation.

[Billy Whizz]

Wouldn't surprise me if the SPFL have advised them to make this approach. Personally think it should be held back to pay their football debt in the event of liquidation.

They still need to pay their football debts if they start as a Newco I thought

[Kojock]

Statement from Ian (I'm an MP) Murray

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.

[Technofob]

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

The BBC and Maclaughlin in his update from lith last night on sport sound said that ukio owned tyne castle.

I thought our ITK chaps were sure Hertz(IA) still owned the stadium.

#moreincorrectreporting

[CB_NO3]

Jamie Borthwick from STV saying Vlad has been arrested in Moscow. That could be even more delays for Hearts if there is a criminal investigation about to start?

[Sanger]

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

Bryan says nothing has changed on the frozen shares. UKIO creditors expected to meet on 18th April. Even if they accept a further 20 day cooling off period takes you to 8th May then apply to the court to unfreeze shares. I asked him the time frame for the latter and he says how long is a piece of string!

[Mikey]

Bryan says nothing has changed on the frozen shares. UKIO creditors expected to meet on 18th April. Even if they accept a further 20 day cooling off period takes you to 8th May then apply to the court to unfreeze shares. I asked him the time frame for the latter and he says how long is a piece of string!

Portsmouth's court case took 5 months to happen.

[jakeshibs]

More delays ha ha come on I just want them dead so I can get it right up them! I want the big L now PBS sold! I got so much grief from YAMS last night after our result more 1-5 1902 crap, so that's it for me, no sympathy get them gone and as soon as possible!!

[AlbertK86]

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.

Now how funny will the 400,000 faces be if/when they get all their agreements in place and they are celebrating their survival .......... Only for the court to say ..... Eh sorry girls, the shares are actually frozen and we'll decide when we switch the freezer off...... Jog on now !!!!

[Moulin Yarns]

Bryan says nothing has changed on the frozen shares. UKIO creditors expected to meet on 18th April. Even if they accept a further 20 day cooling off period takes you to 8th May then apply to the court to unfreeze shares. I asked him the time frame for the latter and he says how long is a piece of string!

Choice?

Sit in a meeting on Good Friday to decide what to do about all the money they have lost, or sit on a beach in the sun on a public holiday. I know where I'd rather be. :greengrin

[CapitalGreen]

Bryan says nothing has changed on the frozen shares. UKIO creditors expected to meet on 18th April. Even if they accept a further 20 day cooling off period takes you to 8th May then apply to the court to unfreeze shares. I asked him the time frame for the latter and he says how long is a piece of string!

But you said the shares were not frozen yesterday?


The UKIO or UBIG shares or assets held or they have a claim over are not Vlad's and therefore not frozen.

[Hermit Crab]

Jamie Borthwick from STV saying Vlad has been arrested in Moscow. That could be even more delays for Hearts if there is a criminal investigation about to start?

He will mysteriously perish in the hands of the KGB

[greenginger]

http://www.lrytas.lt/-13968738571396125536-kreditoriai-i%C5%A1-rank%C5%B3-paleid%C5%BEia-futbolo-klub%C4%85-hearts.htm

Article from Lith. press on the UBIG share " agreement " from yesterday.

Third paragraph is worth noting.

" According to her ( UBIG Admin. ) the transaction will take place if not appealed the creditors meeting minutes. She hinted that the meeting was conflicting transaction. "

So all not quite done and dusted either. :thumbsup:

[CropleyWasGod]

The BBC and Maclaughlin in his update from lith last night on sport sound said that ukio owned tyne castle.

I thought our ITK chaps were sure Hertz(IA) still owned the stadium.

#moreincorrectreporting

They do.

[Off the bar]

http://www.bbc.co.uk/sport/0/football/26935230

Hearts administrators BDO are trying to establish if money due to be handed out at the end of the season can be paid to the club now.
BDO have approached the Scottish Professional Football League as they seek to raise cash to help Hearts fulfil their fixtures.
Relegation was confirmed on Saturday (http://www.bbc.co.uk/sport/0/football/26796705) but Hearts will still be due a share of Scottish Premiership monies.
It is believed BDO only have enough money to keep Hearts going until April.
However, if extra funds can be found it is hoped full agreement over Anne Budge's proposed takeover can be finalised by the time the season ends.
Creditors of major shareholder UBIG have agreed to transfer their 50% holding to BIDCO, (http://www.bbc.co.uk/sport/0/football/26916435) the Budge-backed vehicle for future fan control of Hearts.
But no deal has yet been reached regarding the 29% shares held by Ukio Bankas, which holds a charge on Tynecastle Stadium.
With the Premiership now splitting in two, Hearts have five fixtures remaining against their fellow bottom-six sides. The Tynecastle outfit's next match is against Ross County on 19 April.

[CropleyWasGod]

http://www.bbc.co.uk/sport/0/football/26935230

Hearts administrators BDO are trying to establish if money due to be handed out at the end of the season can be paid to the club now.
BDO have approached the Scottish Professional Football League as they seek to raise cash to help Hearts fulfil their fixtures.
Relegation was confirmed on Saturday (http://www.bbc.co.uk/sport/0/football/26796705) but Hearts will still be due a share of Scottish Premiership monies.
It is believed BDO only have enough money to keep Hearts going until April.
However, if extra funds can be found it is hoped full agreement over Anne Budge's proposed takeover can be finalised by the time the season ends.
Creditors of major shareholder UBIG have agreed to transfer their 50% holding to BIDCO, (http://www.bbc.co.uk/sport/0/football/26916435) the Budge-backed vehicle for future fan control of Hearts.
But no deal has yet been reached regarding the 29% shares held by Ukio Bankas, which holds a charge on Tynecastle Stadium.
With the Premiership now splitting in two, Hearts have five fixtures remaining against their fellow bottom-six sides. The Tynecastle outfit's next match is against Ross County on 19 April.

Since when? :rolleyes:

[Off the bar]

Since when? :rolleyes:

From the ever reliable Brian McLauchlin

[HIBERNIAN-0762]

http://www.bbc.co.uk/sport/0/football/26935230

Hearts administrators BDO are trying to establish if money due to be handed out at the end of the season can be paid to the club now.
BDO have approached the Scottish Professional Football League as they seek to raise cash to help Hearts fulfil their fixtures.
Relegation was confirmed on Saturday (http://www.bbc.co.uk/sport/0/football/26796705) but Hearts will still be due a share of Scottish Premiership monies.
It is believed BDO only have enough money to keep Hearts going until April.
However, if extra funds can be found it is hoped full agreement over Anne Budge's proposed takeover can be finalised by the time the season ends.
Creditors of major shareholder UBIG have agreed to transfer their 50% holding to BIDCO, (http://www.bbc.co.uk/sport/0/football/26916435) the Budge-backed vehicle for future fan control of Hearts.
But no deal has yet been reached regarding the 29% shares held by Ukio Bankas, which holds a charge on Tynecastle Stadium.
With the Premiership now splitting in two, Hearts have five fixtures remaining against their fellow bottom-six sides. The Tynecastle outfit's next match is against Ross County on 19 April.

Remarkable arrogance.

Why do they think they are entitled to this money now?

Utter desperation here and if the SPFL have any hee haws they will tell them to eff off.

What a bloody cheek! :confused:

[Technofob]

They do.

Thanks for that.

As has been said many times on here,these guys are primarily sports reporters but there is no excuse for getting the basics wrong time and again.

[jacomo]

Since when? :rolleyes:

At yesterday's meeting? Isn't this what they are all getting excited about?

Following that story, it then says that Ukio are expected to meet 'by the end of next week' - so not specifically Friday, but the Easter holiday will surely put a spanner in the works.

[jacomo]

Remarkable arrogance.

Why do they think they are entitled to this money now?

Utter desperation here and if the SPFL have any hee haws they will tell them to eff off.

What a bloody cheek! :confused:

It's the Gretna precedent. BDO will say they can't complete the season without it, and I imagine SPFL will advance them the money on that basis.

[greenginger]

Remarkable arrogance.

Why do they think they are entitled to this money now?

Utter desperation here and if the SPFL have any hee haws they will tell them to eff off.

What a bloody cheek! :confused:


Football debts in the region of £ 535,000. How much is the final payment to the bottom club in the league ?

Maybe £ 535,000.15 .....:greengrin

[brog]

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.

I think CWG confirmed already, total football debts are £535,000 & Andy Driver is shown as £114k of that total!

[CropleyWasGod]

At yesterday's meeting? Isn't this what they are all getting excited about?

Following that story, it then says that Ukio are expected to meet 'by the end of next week' - so not specifically Friday, but the Easter holiday will surely put a spanner in the works.

More shoddy reporting, I'm afraid.

The shares are being transferred to FOH, not BIDCO. The CVA arrangement is with them.

If they can't get stuff like that right, how can we believe anything else they tell us?

[CropleyWasGod]

It's the Gretna precedent. BDO will say they can't complete the season without it, and I imagine SPFL will advance them the money on that basis.

They have to be sensitive to other clubs as well. Those other clubs will lose income if HMFC don't play their games.

[greenginger]

At yesterday's meeting? Isn't this what they are all getting excited about?

Following that story, it then says that Ukio are expected to meet 'by the end of next week' - so not specifically Friday, but the Easter holiday will surely put a spanner in the works.


But that decision is also open to appeal and the decision was seemly " conflicted " .

[jacomo]

More shoddy reporting, I'm afraid.

The shares are being transferred to FOH, not BIDCO. The CVA arrangement is with them.

If they can't get stuff like that right, how can we believe anything else they tell us?

Yes, you're right of course.

But in reality this is a takeover by Ann Budge (with an understanding that the club will eventually pass back into the hands of FoH). That's how I read it.

[lapsedhibee]

But you said the shares were not frozen yesterday?

They weren't. It was more like a year ago. :wink:

[brog]

http://www.bbc.co.uk/sport/0/football/26935230

Hearts administrators BDO are trying to establish if money due to be handed out at the end of the season can be paid to the club now.
BDO have approached the Scottish Professional Football League as they seek to raise cash to help Hearts fulfil their fixtures.
Relegation was confirmed on Saturday (http://www.bbc.co.uk/sport/0/football/26796705) but Hearts will still be due a share of Scottish Premiership monies.
It is believed BDO only have enough money to keep Hearts going until April.
However, if extra funds can be found it is hoped full agreement over Anne Budge's proposed takeover can be finalised by the time the season ends.
Creditors of major shareholder UBIG have agreed to transfer their 50% holding to BIDCO, (http://www.bbc.co.uk/sport/0/football/26916435) the Budge-backed vehicle for future fan control of Hearts.
But no deal has yet been reached regarding the 29% shares held by Ukio Bankas, which holds a charge on Tynecastle Stadium.
With the Premiership now splitting in two, Hearts have five fixtures remaining against their fellow bottom-six sides. The Tynecastle outfit's next match is against Ross County on 19 April.

I think this is blackmail - advance us the money & we'll complete our fixtures, don't do it & we'll leave the League looking stupid. Of course they ( Yams ) really have no clout, if they don't complete their fixtures they have to pay SPFL back £830k, more football debt for the new owners!

[HUTCHYHIBBY]

Bryan says nothing has changed on the frozen shares. UKIO creditors expected to meet on 18th April. Even if they accept a further 20 day cooling off period takes you to 8th May then apply to the court to unfreeze shares. I asked him the time frame for the latter and he says how long is a piece of string!

So even though more than one person works on the Lithuanian desk your "contact" is the oft mentioned Mr Bradley after all.

Cloak and Dagger at its most mysterious!

[Spike Mandela]

Jamie Borthwick from STV saying Vlad has been arrested in Moscow. That could be even more delays for Hearts if there is a criminal investigation about to start?

Surely it's the opposite? If he has been arrested the trial can be started wheras before it couldn't. If he has been arrested at least the following trial would bring the frozen shares issue more clearly in to focus.

[CropleyWasGod]

Yes, you're right of course.

But in reality this is a takeover by Ann Budge (with an understanding that the club will eventually pass back into the hands of FoH). That's how I read it.

Yeah, I know I'm being pedantic...but I have a real bee up my erse about the MSM just now.

[brog]

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

I'm honoured!! :greengrin Sergey may even buy me a drink next time we meet now I've received the supreme accolade!!

[Ozyhibby]

BDO just the same as Vlad. If they don't have enough cash to finish the season then maybe they shouldn't have signed Danny Wilson or the crap guy from West Ham.
Still speculating to accumulate.
Still putting out a team they can't afford.
Hearts will never learn.

[jacomo]

Yeah, I know I'm being pedantic...but I have a real bee up my erse about the MSM just now.

Fair enough - someone needs to pull them up because their editors seem to have given up the ghost.

[Sanger]

But you said the shares were not frozen yesterday?


There's always a nit picker!:wink:

[BH Hibs]

It's the Gretna precedent. BDO will say they can't complete the season without it, and I imagine SPFL will advance them the money on that basis.

Gretna didn't have a multi millionaire willing to step in to takeover. If they need more money she should foot the bill. SPFL should tell them to bolt

[jacomo]

BDO just the same as Vlad. If they don't have enough cash to finish the season then maybe they shouldn't have signed Danny Wilson or the crap guy from West Ham.
Still speculating to accumulate.
Still putting out a team they can't afford.
Hearts will never learn.

How about the friendly against Wolfsburg which probably ended up costing them money? :hilarious

Or the funds that have gone to FoH which they can't touch, while Tynecastle has failed to sell out all season? :hilarious

[Sanger]

So even though more than one person works on the Lithuanian desk your "contact" is the oft mentioned Mr Bradley after all.

Cloak and Dagger at its most mysterious!
There are others I speak to about the economy and finacial system. But Bryan was the one tailing Ukio.

[HUTCHYHIBBY]

I'm honoured!! :greengrin Sergey may even buy me a drink next time we meet now I've received the supreme accolade!!

Would he not just be buying it for himself? ;-)

[brog]

Surely it's the opposite? If he has been arrested the trial can be started wheras before it couldn't. If he has been arrested at least the following trial would bring the frozen shares issue more clearly in to focus.

You would be looking at years before any trial can start, Yams don't have weeks!

[CropleyWasGod]

Gretna didn't have a multi millionaire willing to step in to takeover. If they need more money she should foot the bill. SPFL should tell them to bolt

And who should foot the bill for those clubs that would lose income by not having home games against Hearts?

I think the clubs, who are the SPFL after all, will be happy to advance the money.

[s.a.m]

Brian Marjoribanks ‏@DMMarjoribanks · 38m
Vladimir Romanov faces charges of "misappropriation and embezzlement". Lithuanian law provides for imprisonment up to 7 years. 1/2

Brian Marjoribanks ‏@DMMarjoribanks · 35m
But a spokesman for Mr Romanov's fallen business empire in Lithuania says: "It might be that the list of his doings is not finished yet."

[Spike Mandela]

Remarkable arrogance.

Why do they think they are entitled to this money now?

Utter desperation here and if the SPFL have any hee haws they will tell them to eff off.

What a bloody cheek! :confused:

With the current bravehearts love in I am 100% certain they will get it. Always was the fallback plan imo and the Gretna precedent will make it a foregone conclusion. Wouldn't surprise me if calls were made by Doncaster to BDO saying"just give us a ring if it gets tight mate". Puts a slight dent in the FoH budget for next season though.

[jgl07]

And who should foot the bill for those clubs that would lose income by not having home games against Hearts?

I think the clubs, who are the SPFL after all, will be happy to advance the money.
I doubt very much that they will be 'happy' to hand over cash to the crooks. I would see it more as reluctantly they will hand over some money to avoid a worse fate of having an uncompleted season.

[Hermit Crab]

Brian Marjoribanks ‏@DMMarjoribanks · 38m
Vladimir Romanov faces charges of "misappropriation and embezzlement". Lithuanian law provides for imprisonment up to 7 years. 1/2

Brian Marjoribanks ‏@DMMarjoribanks · 35m
But a spokesman for Mr Romanov's fallen business empire in Lithuania says: "It might be that the list of his doings is not finished yet."

Could this cause problem for the gorge tramps in getting a deal done?

[CB_NO3]

Surely it's the opposite? If he has been arrested the trial can be started wheras before it couldn't. If he has been arrested at least the following trial would bring the frozen shares issue more clearly in to focus.
The Lithuanian government wont release any 'frozen' shares surely until the trial is done and dusted. As someone else says, that could potentially take years. They would have to investigate backlogs of dodgy transactions, money laundering involving 3 or 4 different countries, different types of organisations from football clubs, basketball clubs, to banks in the UK, banks in the baltic states, metal plants in Bosnia and so on.

I see what you mean though, if he was never found then the 'frozen' shares might have never ever got released.

[Moulin Yarns]

I doubt very much that they will be 'happy' to hand over cash to the crooks. I would see it more as reluctantly they will hand over some money to avoid a worse fate of having an uncompleted season.


Let them limp over the line, then they get the parachute payment for relegation.

[CropleyWasGod]

I doubt very much that they will be 'happy' to hand over cash to the crooks. I would see it more as reluctantly they will hand over some money to avoid a worse fate of having an uncompleted season.

Ok, maybe "happy" isn't the right word. "Well-advised" would be better.

[Dashing Bob S]

Surely it's the opposite? If he has been arrested the trial can be started wheras before it couldn't. If he has been arrested at least the following trial would bring the frozen shares issue more clearly in to focus.

If he is being charged and a date set for a trial, they will have a complete case against him. If any of the evidence (ie: the assets, meaning the shares) were tampered with, his lawyers will be all over it. Also, they will appeal at every juncture. This case could run for months and months.

It could also bring worse news for Hearts. The money they were using to underwrite their crazy spending will inevitably be shown to be dirty. This would put the football authorities in this country in a terrible position. If they won points, prizes and prize money through cash earned through drugs/ human trafficking/ financial corruption, where does that leave sporting integrity? There is also the position of officers of the club during Vlad's tenure. They too, might be liable to prosecution.

On a completely different matter, I'm convinced that the local national and national politicians who were keen to assist and facilitate Vlad's ownership of Hearts are above reproach and took no remuneration for their consultancy roles. They will be as glad as anybody to see him in the dock, testifying to his full involvement with Hearts.

[Mikey]

With the current bravehearts love in I am 100% certain they will get it. Always was the fallback plan imo and the Gretna precedent will make it a foregone conclusion. Wouldn't surprise me if calls were made by Doncaster to BDO saying"just give us a ring if it gets tight mate". Puts a slight dent in the FoH budget for next season though.

I've been saying for some time that they'll see out the season, even if it takes an advance of their "prize money". Mid May is when they'll liquidate if things haven't improved.

[jdships]

OK lets say they get paid " up front" . It just means that that money won't be there come the start of next season - cash flow problems
again ?
Remember the old cliche " You can only sell the family silver once " !!
Remember too - Mrs B hasn't signed anything yet it's still all " perhaps/maybe "
:rolleyes:

[jacomo]

OK lets say they get paid " up front" . It just means that that money won't be there come the start of next season - cash flow problems
again ?
Remember the old cliche " You can only sell the family silver once " !!
Remember too - Mrs B hasn't signed anything yet it's still all " perhaps/maybe "
:rolleyes:

:agree:

Everything has consequences. Surviving this season just starts a whole new round of problems for the maroon ones.

[Sergey]

http://www.lrytas.lt/-13968738571396125536-kreditoriai-i%C5%A1-rank%C5%B3-paleid%C5%BEia-futbolo-klub%C4%85-hearts.htm

Article from Lith. press on the UBIG share " agreement " from yesterday.

Third paragraph is worth noting.

" According to her ( UBIG Admin. ) the transaction will take place if not appealed the creditors meeting minutes. She hinted that the meeting was conflicting transaction. "

So all not quite done and dusted either. :thumbsup:

I asked my contact to translate the article and the third paragraph reads:

Irena Janulionienė states: "there were dissenters among the creditors and the decision might be challenged in court...."

[Hibernia&Alba]

Why are they still in hiding on Hunchback? Are they afraid of Hibby trolls, or are the shameless yins actually feeling embarrassed?

[Hermit Crab]

I asked my contact to translate the article and the third paragraph reads:

Irena Janulionienė states: "there were dissenters among the creditors and the decision might be challenged in court...."

Excellent news.

[jacomo]

It could also bring worse news for Hearts. The money they were using to underwrite their crazy spending will inevitably be shown to be dirty. This would put the football authorities in this country in a terrible position. If they won points, prizes and prize money through cash earned through drugs/ human trafficking/ financial corruption, where does that leave sporting integrity? There is also the position of officers of the club during Vlad's tenure. They too, might be liable to prosecution.


:agree:

I have thought for a while that there is worse news to come for Hearts. They have been massively overplaying their hand by trying to claim they were victims in all of this, because if evidence comes to light of HMFC laundering money for the Romanov empire, the backlash will be even fiercer.

Even the Huns will be able to claim moral superiority over them - imagine that!

[jacomo]

Statement from Ian (I'm an MP) Murray

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.

In my more charitable moments, I dismiss JKB as representing the lunatic fringe and living-with-mammy keyboard warriors only, and not representative of the wider Yambo nation.

Seems this is not the case...

[Dashing Bob S]

I've been saying for some time that they'll see out the season, even if it takes an advance of their "prize money". Mid May is when they'll liquidate if things haven't improved.

It's a logical step in some ways, but if they pull the plug then it gives them very little time to get the Newco up and running for next season, especially if they lose the PBS. They can't afford a season in limbo.

It's more than possible that there might be some deal to smooth a Newco passage into the lower leagues throughout this process though!

[Dashing Bob S]

:agree:

I have thought for a while that there is worse news to come for Hearts. They have been massively overplaying their hand by trying to claim they were victims in all of this, because if evidence comes to light of HMFC laundering money for the Romanov empire, the backlash will be even fiercer.

Even the Huns will be able to claim moral superiority over them - imagine that!

Yes, this is where I've been at. As far as they've fallen already, they haven't potentially hit the bottom yet.

[TRC]

Anyone else get the feelung that this is all just a stalling tactic, theg are really just getting the house in order for liquidation asking the spfl for assurances that the will go to l2?

[Waxy]

They could be stripped of all honours won during his time.

[Dashing Bob S]

Anyone else get the feelung that this is all just a stalling tactic, theg are really just getting the house in order for liquidation asking the spfl for assurances that the will go to l2?

Yes.

[CropleyWasGod]

They could be stripped of all honours won during his time.

Not a chance, I'm afraid. The precedent was set by the Rangers case.

[dangermouse]

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.

Is Sergey not sailing her up the West coast?

[Mikey]

Is Sergey not sailing her up the West coast?

It's no coincidence that Sergey was sailing yesterday and Vlad was caught the same day. He may be able to steer a submarine round the Baltic but he can't dodge Sergey's sonar in the Channel.

[CB_NO3]

Now Vlad has been released according to Jamie Borthwick on twitter. 5 minutes after the evening news publish it on their website lol.

[SmashinGlass]

It's no coincidence that Sergey was sailing yesterday and Vlad was caught the same day. He may be able to steer a submarine round the Baltic but he can't dodge Sergey's sonar in the Channel.

:faf: :faf:

[Hermit Crab]

Now Vlad has been released according to Jamie Borthwick on twitter. 5 minutes after the evening news publish it on their website lol.

Brown envelopes changing hands again?

[greenginger]

Brown envelopes changing hands again?


Or Lord Foukesass has spoken up for him and given him a character reference and checked his business background. :greengrin

[CyberSauzee]

I asked my contact to translate the article and the third paragraph reads:

Irena Janulionienė states: "there were dissenters among the creditors and the decision might be challenged in court...."

The jungle drums are ringing loud and clear from where I am. Kupendeza :wink:

[jacomo]

Or Lord Foukesass has spoken up for him and given him a character reference and checked his business background. :greengrin

'I've had dealings with him. He's done everything he'd said he'd do. What makes you think he'd skip bail?'

[greenpaper55]

Jackson speaks http://www.edinburghnews.scotsman.com/sport/football/hearts/bdo-fight-to-secure-2-5m-hearts-cva-deal-1-3368801

[hibeesdude]

wheres baj for an update/opinion - not seen him comment in a few days?

[Bleeds green]

Jackson speaks http://www.edinburghnews.scotsman.com/sport/football/hearts/bdo-fight-to-secure-2-5m-hearts-cva-deal-1-3368801

Not once in that article is there a statement from Jackson???

'Jackson speaks'??!!

[Deansy]

Where to BDO expect the cash to come from ?

The Tynecastle Kitty is empty, I don't think Budge will put money in until the ink is 100% dry on everything, that only leaves the Lith admin.to hand over some of cash gathered in Lithuania.

Not very likely.

Bear in mind the subject-matter - realistically, they've been skint for the last 30+ years but have still managed to continue on a level way way above their historical standard. They'll find money somewhere because when it comes to the 'Brown-envelope' payment system, they're the 'Go to' guys !!



If he is being charged and a date set for a trial, they will have a complete case against him. If any of the evidence (ie: the assets, meaning the shares) were tampered with, his lawyers will be all over it. Also, they will appeal at every juncture. This case could run for months and months.

It could also bring worse news for Hearts. The money they were using to underwrite their crazy spending will inevitably be shown to be dirty. This would put the football authorities in this country in a terrible position. If they won points, prizes and prize money through cash earned through drugs/ human trafficking/ financial corruption, where does that leave sporting integrity? There is also the position of officers of the club during Vlad's tenure. They too, might be liable to prosecution.

On a completely different matter, I'm convinced that the local national and national politicians who were keen to assist and facilitate Vlad's ownership of Hearts are above reproach and took no remuneration for their consultancy roles. They will be as glad as anybody to see him in the dock, testifying to his full involvement with Hearts.

After the 'Liquidation-threat', THAT comes next in their collective pant-fillers !!. It's highly unlikely Vlad chose 'The Muppets' as the ONLY one of his businesses to run honestly. The question is though, how will the SFA deal with it - as justice sees fit or 'The rangers way' ??

[Hermit Crab]

Jackson speaks http://www.edinburghnews.scotsman.com/sport/football/hearts/bdo-fight-to-secure-2-5m-hearts-cva-deal-1-3368801

That just wind and pish from our friend Barry

[jacomo]

Jackson speaks http://www.edinburghnews.scotsman.com/sport/football/hearts/bdo-fight-to-secure-2-5m-hearts-cva-deal-1-3368801

If BDO pay me £100k I promise I'll say nice things about the Jambos and even email the SPFL, SFA and the Lithuanian administrators on their behalf. It's only a token payment, after all.

[Keith_M]

Jackson speaks http://www.edinburghnews.scotsman.com/sport/football/hearts/bdo-fight-to-secure-2-5m-hearts-cva-deal-1-3368801


I believe he does, but apparently not in that article.


Read the second comment, somebody has really ripped Banderson :wink:

[Waxy]

Doubt anyone will put a penny into them whilst the threat of liquidation looms large. This is cash that would be lost. As not a penny has gone in to help the situation it all points to a newco being formed.

[jacomo]

I believe he does, but apparently not in that article.


Read the second comment, somebody has really ripped Banderson :wink:

Yes, although the quote is attributed to I am an MP, is it not?

[Weststandwanab]

Statement from Ian (I'm an MP) Murray

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. As close a I am to being the Pope.


Jamie Borthwick from STV saying Vlad has been arrested in Moscow. That could be even more delays for Hearts if there is a criminal investigation about to start? Perfect timing.


Bryan says nothing has changed on the frozen shares. UKIO creditors expected to meet on 18th April. Even if they accept a further 20 day cooling off period takes you to 8th May then apply to the court to unfreeze shares. I asked him the time frame for the latter and he says how long is a piece of string! No chance it will be 18h April 214.


More shoddy reporting, I'm afraid.

The shares are being transferred to FOH, not BIDCO. The CVA arrangement is with them.

If they can't get stuff like that right, how can we believe anything else they tell us? Precisely.



I think this is blackmail - advance us the money & we'll complete our fixtures, don't do it & we'll leave the League looking stupid. Of course they ( Yams ) really have no clout, if they don't complete their fixtures they have to pay SPFL back £830k, more football debt for the new owners! New Owner singular maybe/maybe not.

[Shore Thing]

All this talk of money laundering, misappropriation and embezzlement reminds me of a certain car wash...

http://i57.tinypic.com/2nbaf01.jpg

[greenginger]

http://www.yelp.co.uk/biz/gorgie-launderette-edinburgh

Gorgie Launderette still in business . :greengrin

[Kato]

A couple of weeks ago the UKIO shares were "in the bag" (with some provisions) and the UBIG shares were the problem.

Now the UBIG shares are "in the bag" (with some provisions) and the UKIO shares are the problem.

They are getting the runaround, Mike Reid stylee.

They only have left in exitence imho, no way are the shares going to released to them and if they are the timescales, cancelled meetings, court sanctions (and back to the start again) will see them run of gas (i.e. money).

Then all that's left over the next couple of years is for Vlad's trial to reveal their sticky fingered habits and they will be stripped of his whole legacy, leaving only those memories of employing sex-offenders, ripping off charities, stealing tax payers money etc etc.

Weird wee club.

[joe breezy]

That just wind and pish from our friend Barry

That article is the most resigned to Hearts are bust as I've ever seen. If the Lithuanians are seriously saying could we get a better deal of course the answer is yes.

Put the land up for sale and they'll get £10 million plus.

The game's up the pole.

[Just Alf]

Deleted.... Wrong thread and I'm too tired (too much travelling) sorry :-/

[Hermit Crab]

That article is the most resigned to Hearts are bust as I've ever seen. If the Lithuanians are seriously saying could we get a better deal of course the answer is yes.

Put the land up for sale and they'll get £10 million plus.

The game's up the pole.

I'm not sure I think they will get through this.

[PapillonVert]

If he is being charged and a date set for a trial, they will have a complete case against him. If any of the evidence (ie: the assets, meaning the shares) were tampered with, his lawyers will be all over it. Also, they will appeal at every juncture. This case could run for months and months.

Don't know anything about Russian and Lithuanian criminal law, but I would imagine there could be the small matter of a formal extradition procedure to go through before Vlad sets physical foot on Lithuanian soil again.

Also, from what I've read, the Russian judiciary is in the pay and under the control of the local Mafia and crime lords (not independent in other words) and so could be Vlad is never extradited at all. :wink:

All complete conjecture on my part. No sources in Russia, Lithuania or anywhere else.

[Jim44]

You mean the SPFL, not the Liths

Sorry about that, I wrote that in a hurry this morning as a I was running out the door.:greengrin

[PapillonVert]

I've been saying for some time that they'll see out the season, even if it takes an advance of their "prize money". Mid May is when they'll liquidate if things haven't improved.

Although surely another sign that the "self-sufficient ones" are still not living within their means!

[s.a.m]

Scotsman ‏@TheScotsman 14m (https://twitter.com/TheScotsman/status/453503091024080896) #football (https://twitter.com/search?q=%23football&src=hash) Andrew Smith is hosting a live webchat on the future of #Hearts (https://twitter.com/search?q=%23Hearts&src=hash). Get involved here: http://bit.ly/1mYqsV3 (http://t.co/3hORLI05FJ)

[Moulin Yarns]

Scotsman ‏@TheScotsman 14m (https://twitter.com/TheScotsman/status/453503091024080896) #football (https://twitter.com/search?q=%23football&src=hash) Andrew Smith is hosting a live webchat on the future of #Hearts (https://twitter.com/search?q=%23Hearts&src=hash). Get involved here:

http://bit.ly/1mYqsV3 (http://t.co/3hORLI05FJ)

The usual quality of "journalism" apparently Bob Jamieson bid £15milion, not Munro :confused:

[CropleyWasGod]

Has any comment been made on the suggestion that the UBIG shares in Hearts are still frozen by the Lithuanian Courts, and that there may therefore be a difficulty in transferring them?


I have heard that but no-one I have spoken to involved in the process has intimated that is actually the case.



But have they denied it? My point being... no-one seems to have asked the question.


When you ask them what has to be gone through, they never mention this share freeze.



Perhaps the question should be asked explicitly. It is important.

I will ask then.

We shall see :rolleyes:

[Moulin Yarns]

Has any comment been made on the suggestion that the UBIG shares in Hearts are still frozen by the Lithuanian Courts, and that there may therefore be a difficulty in transferring them?


I have heard that but no-one I have spoken to involved in the process has intimated that is actually the case.



But have they denied it? My point being... no-one seems to have asked the question.


When you ask them what has to be gone through, they never mention this share freeze.



Perhaps the question should be asked explicitly. It is important.

I will ask then.

We shall see :rolleyes:


Well, now we will see what they say about frozen shares. :wink:

[Joy Zipper]

"Now there could be a difficulty. According to my source, a newco Hearts in the fourth tier - which is where it would have to play, with the precendent set, as you say - could not afford to play at Tynecastle. I wouldn't be surprised if a rent deal was struck with Livingston in that scenario."

Nice.

[Newry Hibs]

[QUOTE=Dashing Bob S;3963464]If he is being charged and a date set for a trial, they will have a complete case against him. If any of the evidence (ie: the assets, meaning the shares) were tampered with, his lawyers will be all over it. Also, they will appeal at every juncture. This case could run for months and months. [QUOTE]

Don't know anything about Russian and Lithuanian criminal law, but I would imagine there could be the small matter of a formal extradition procedure to go through before Vlad sets physical foot on Lithuanian soil again.

Also, from what I've read, the Russian judiciary is in the pay and under the control of the local Mafia and crime lords (not independent in other words) and so could be Vlad is never extradited at all. :wink:

All complete conjecture on my part. No sources in Russia, Lithuania or anywhere else.

You are Banderson and I claim my £5.

[AltheHibby]

PV, I dont think Agent Vlad can be extradited as I am sure the Russians wont extradite their citizens.

[mim]

Would a newco be able to buy Tynecastle in the first place?

[CropleyWasGod]

Well, now we will see what they say about frozen shares. :wink:

The extent to which they pussyfoot around the question is breathtaking.

Just ask the f'ing question and let's move on. :rolleyes:

[CropleyWasGod]

Would a newco be able to buy Tynecastle in the first place?

If they had the cash, and the best offer.

[PapillonVert]

PV, I dont think Agent Vlad can be extradited as I am sure the Russians wont extradite their citizens.

That thought had crossed my mind.

I suppose it depends what extradition treaties are in place and the grounds they have for extradition. Of course, any such treaties may be more honoured in't breach by the Russian Courts

Also, if someone "influential" wants him extradited for whatever reason, could be the Court will find a reason to extradite him! :wink:

[Kato]

Scotsman ‏@TheScotsman 14m (https://twitter.com/TheScotsman/status/453503091024080896) #football (https://twitter.com/search?q=%23football&src=hash) Andrew Smith is hosting a live webchat on lack of a future at #Hearts (https://twitter.com/search?q=%23Hearts&src=hash). Get involved here: http://bit.ly/1mYqsV3 (http://t.co/3hORLI05FJ)

Fixed

[Moulin Yarns]

The extent to which they pussyfoot around the question is breathtaking.

Just ask the f'ing question and let's move on. :rolleyes:


I know, I'm truly frantic with worry :wink:

They will have the 80% from the Lithuanian bankers. I think the other shares are helding by various small holdings.

[CropleyWasGod]

I know, I'm truly frantic with worry :wink:

They will have the 80% from the Lithuanian bankers. I think the other shares are helding by various small holdings.

"it didn't come up in any of my talks with BDO" :rolleyes:

Of course it bloody wouldn't if you didn't ask them.......

[Moulin Yarns]

Blast!! the webchat closed at 5 to 2. It stopped my final question, abouth the meeting of UB Creditors on Good Friday

[silverhibee]

Vlad has been arrested in Moscow.

[Brunswickbill]

All this talk about a UKIO creditors meeting next week to discuss the CVA. Surely the UKIO creditors have made it clear on more than one occasion that they are not satisfied wit the £2.5M offer and that they want at least the £6.8M for the security over PBS and probably a bung for the shares that FOH need. On the face of it, it doesn't look likely that , if a meeting does go ahead, they are now going to say "Aye that'll be fine." That's now less likely as the new "offers" that have been talked about must surely confirm that a sale of the PBS on the open market may well get the UKIO creditors what they want. With the state of Yam finances the UKIO creditors can achieve what they want by doing nothing and forcing a liquidation sale.

I wonder if BJ with his visit to Lithland and his meetings with UKIO lawyers wants/needs to be seen to be making every effort to get a deal but knows that there's little chance of success? And will he portray getting the yams through to the end of the season as a successful piece of work after which he can walk away and say "I did my best"?:confused:

[Hank Schrader]

I found this quite amusing (referring to Hibs fans emailing Lithuania about potential value of Tynecastle/Ann Budge wealth);


As for Hibs fans, it is pathetic, but there you go with bitter rivalries. Unless they know something we don't....


It appears that some of us Hibs fans know plenty that you don't. :rolleyes:

[jacomo]

"it didn't come up in any of my talks with BDO" :rolleyes:

Of course it bloody wouldn't if you didn't ask them.......

Unbelievable. I mean, we all know the Scotsman have been worse than useless, but to admit you had not even asked about an issue that even BDO themselves had highlighted really does seem to be a new low.

'Tell me officer, did the suspect explain why he was standing over the victim's body with a bloodied knife in his hand?'

'Oh, it didn't come up.'

[jacomo]

Have they changed this headline?

'Hearts Liquidation'

http://www.edinburghnews.scotsman.com/news/hearts-liquidation-ukio-fail-to-agree-deal-1-3367658

Is this a slip up? Or just the usual carelessness?

[Craig_in_Prague]

All this talk about a UKIO creditors meeting next week to discuss the CVA. Surely the UKIO creditors have made it clear on more than one occasion that they are not satisfied wit the £2.5M offer and that they want at least the £6.8M for the security over PBS and probably a bung for the shares that FOH need. On the face of it, it doesn't look likely that , if a meeting does go ahead, they are now going to say "Aye that'll be fine." That's now less likely as the new "offers" that have been talked about must surely confirm that a sale of the PBS on the open market may well get the UKIO creditors what they want. With the state of Yam finances the UKIO creditors can achieve what they want by doing nothing and forcing a liquidation sale.

I wonder if BJ with his visit to Lithland and his meetings with UKIO lawyers wants/needs to be seen to be making every effort to get a deal but knows that there's little chance of success? And will he portray getting the yams through to the end of the season as a successful piece of work after which he can walk away and say "I did my best"?:confused:

He is doing his best though & on a pretty grim assignment.
He can only take the process as far as he can. If UKIO still don't accept, or the courts don't release shares, it really is not his fault, he is just carrying out his job.

given UBIG creditor(s) may still appeal the decision... UKIO may not accept / demand more... Courts being a potential big player.... Time running out..... If BJ gets this CVA before end of season, it'll be a fine job from him, convincing people X is worth a lot less than the truth.

[patlowe]

“They [Ukio] want the proper process to run through and they want to make sure they can justify to their own creditors that they’re getting the best value for this part of their portfolio,” explained Ian Murray, Foundation of Hearts chairman. “I think BDO are working hard to convince them that is the case but they have to come to their own decision on the matter. The belief was that there would be a creditors’ meeting for Ukio Bankas yesterday but that hasn’t happened. We just have to work to get through the proper process and hope we can get this done by the middle of April. That’s where we are today.”

Hmmmmm. :nanawave:

[AltheHibby]

PV,
Plenty influential people at the PBS: I'm an MP, ****sy and #allisbarry for starters...

[Sanger]

As close a I am to being the Pope.

Perfect timing.

No chance it will be 18h April 214.

Precisely.


New Owner singular maybe/maybe not.

Meeting postponed to 22 April 2014 because of Easter according to Bloomberg news desk.

[HUTCHYHIBBY]

Don't know anything about Russian and Lithuanian criminal law, but I would imagine there could be the small matter of a formal extradition procedure to go through before Vlad sets physical foot on Lithuanian soil again.

Also, from what I've read, the Russian judiciary is in the pay and under the control of the local Mafia and crime lords (not independent in other words) and so could be Vlad is never extradited at all. :wink:

All complete conjecture on my part. No sources in Russia, Lithuania or anywhere else.

I don't think the Russians are in the habit of extraditing their own citizens.

[Glesgahibby]

1)UKIO accept cva (condisional)
2)UBIG abstain cva(offered money for shares)
3)FOH named as cva funder and buyer.
4)fans told they will soon create history by owning club.
5)BBC love in /allsbarry/media lap it up.
6)mrs budgie comes out the cage for the day,BBC love in/allsbarry/media lap it up.
7)fans are told they will now create history further Down
the line 3/5 years.
8)mrs budgie will now own hearts not fans(yet)
9)UBIG/UKIO advise there is a problem,BBC love in/allsbarry/media start greetin.
10) various meetings reported to be taking place by BBC love in/allsbarry/media and FOH.
11)finally two meetings of creditors for UBIG and UKIO are reported to take place 07/04/2014
12) mrs budgie says"this is it,sort it or I'm oot"
13)kickbackers tell the world of there sleepless night and there morning bowel movements.
14)07/04/2014 arrives D day the kickbackers called it.
15)UBIG accept offer for shares(condisional)FOH re tweet BBC.
16)"FOH" yes that's "FOH" tweet "UKIO creditors meeting has begun"
17)conflicting tweets stating there is no UKiO creditors meeting.
18)JKB goes into meltdown,hibs netters roll about the floor in tears of laughter.
19)no statement from BDO
20)BBC love in/allsbarry/media/FOH start spinning like they have never spun before.
TODAY,VLAD LIfTED/BDO ask SPFL for money/SHARES STILL FROZEN.

[HUTCHYHIBBY]

I don't think the Russians are in the habit of extraditing their own citizens.

Now that I've reached the end of the thread I see its already been mentioned.

[Phil D. Rolls]

PV, I dont think Agent Vlad can be extradited as I am sure the Russians wont extradite their citizens.

However, in the current political climate, Vlad may be a worthy pawn to be traded for favours elsewhere. It's no coincidence they've waited till now to collar him, IMO.

[Sanger]

However, in the current political climate, Vlad may be a worthy pawn to be traded for favours elsewhere. It's no coincidence they've waited till now to collar him, IMO.

Given the Liths are very upset over Ukraine/Crimea, the Russians may offer Vlad as a sacrifical lamb.

[portycabbage]

He will mysteriously perish in the hands of the KGB

I genuinely misread the word "perish" without the "er" there, and I thought "that really would be mysterious", unless it was Gary Locke's face rather than the KGB's hands.:greengrin

[CropleyWasGod]

Meeting postponed to 22 April 2014 because of Easter according to Bloomberg news desk.

Will this one have a proper period of notice and agenda published, as they had with the first one?

[Mikey]

Meeting postponed to 22 April 2014 because of Easter according to Bloomberg news desk.

:aok:

[BH Hibs]

Meeting postponed to 22 April 2014 because of Easter according to Bloomberg news desk.

For real or just an educated guess?

[Waxy]

Vlad has been arrested in Moscow.
Your so slow, even the daily record beat you.shame on you.

[joe breezy]

For real or just an educated guess?

you would imagine Bloomberg try to report things factually unlike the MSM / Scottish hearts cheerers

[Dashing Bob S]

April the 22nd now? I heave a deep sigh. At this rate they'll never exit administration!

[Sanger]

For real or just an educated guess?

From the Bloomberg news desk who notified of UKIO's meetings schedule. But could be as we know subject to change!

[Mikey]

Will this one have a proper period of notice and agenda published, as they had with the first one?

Yep, would be handy to see that.

[Moulin Yarns]

Will this one have a proper period of notice and agenda published, as they had with the first one?


From the Bloomberg news desk who notified of UKIO's meetings schedule. But could be as we know subject to change!

Sergey, where are you when we ned you to get in touch with the insider?

[Kato]

Will this one have a proper period of notice and agenda published, as they had with the first one?

By th time it takes place, if at all, the dissent amongst the UBIG creditors, which we already know about, will surface in the MSM and they will be in exactly the same place as they were when they went into admin, rooked.

There comes a time when enough is enough, if they were a horse they'd be Tesco Burgers by now.

[green glory]

Re this Bloomberg report of the delay till 22nd. Will we tell Jamie Borthwick and watch him squeal lol?

[Sergey]

Sergey, where are you when we ned you to get in touch with the insider?

Fear not, GF - I'm trying to get a copy of the agenda (if indeed there is one).

[Jim44]

Meeting postponed to 22 April 2014 because of Easter according to Bloomberg news desk.

Where on the news desk? .......can't seem to find any mention of it.

[Weststandwanab]

April the 22nd now? I heave a deep sigh. At this rate they'll never exit administration! They will around 12th May when they go into the big L

[GREEN WARLORD]

http://www.bbc.co.uk/sport/0/football/26935230

Hearts administrators BDO are trying to establish if money due to be handed out at the end of the season can be paid to the club now.
BDO have approached the Scottish Professional Football League as they seek to raise cash to help Hearts fulfil their fixtures.
Relegation was confirmed on Saturday (http://www.bbc.co.uk/sport/0/football/26796705) but Hearts will still be due a share of Scottish Premiership monies.
It is believed BDO only have enough money to keep Hearts going until April.
However, if extra funds can be found it is hoped full agreement over Anne Budge's proposed takeover can be finalised by the time the season ends.
Creditors of major shareholder UBIG have agreed to transfer their 50% holding to BIDCO, (http://www.bbc.co.uk/sport/0/football/26916435) the Budge-backed vehicle for future fan control of Hearts.
But no deal has yet been reached regarding the 29% shares held by Ukio Bankas, which holds a charge on Tynecastle Stadium.
With the Premiership now splitting in two, Hearts have five fixtures remaining against their fellow bottom-six sides. The Tynecastle outfit's next match is against Ross County on 19 April.

I have a big chum who supports "The Rongers", he's having a big gripe. "Surely this is trading while insolvent, which is a criminal act"? Would he be right?

[Juice-Terry]

They will around 12th May when they go into the big L

The greatest day in history was the day the 12th of May. BIG "L"! **** THE HERTZ!

[CropleyWasGod]

I have a big chum who supports "The Rongers", he's having a big gripe. "Surely this is trading while insolvent, which is a criminal act"? Would he be right?

No.

They're not trading while insolvent if they can pay their bills as they fall due.

And, trading while insolvent is not a criminal act. Were that the case, HMFC would have been charged years ago.

[Moulin Yarns]

Given the Liths are very upset over Ukraine/Crimea, the Russians may offer Vlad as a sacrifical lamb.


The Huns had their Succulent Lamb, now Hearts could have some Sacrificial Lamb. :greengrin



From the Bloomberg news desk who notified of UKIO's meetings schedule. But could be as we know subject to change!

Have you got a link, 'cos I am not seeing it.

[GREEN WARLORD]

No.

They're not trading while insolvent if they can pay their bills as they fall due.

And, trading while insolvent is not a criminal act. Were that the case, HMFC would have been charged years ago.

Thanks CWG, i knew someone would have the answer. :agree:

[bringbackbenny]

Do the football debts not have to subtracted from any advance payment from the SPL?

[Jim44]

Do the football debts not have to subtracted from any advance payment from the SPL?

Would that not be too sensible?

[EastCalderHibby]

OK lets say they get paid " up front" . It just means that that money won't be there come the start of next season - cash flow problems
again ?
Remember the old cliche " You can only sell the family silver once " !!
Remember too - Mrs B hasn't signed anything yet it's still all " perhaps/maybe "
:rolleyes:

has the **** not already had cash upfront from wonga

[jacomo]

has the **** not already had cash upfront from wonga

Yes! A near-seven figure sum!

:wink:

[Dashing Bob S]

I feel a bit like a child waiting to get a new pet dog.

"What shall we name Zombie Hearts, mother?"

"Oh, let's just wait and see till he comes and what he looks like, Robert."

[God Petrie]

I feel a bit like a child waiting to get a new pet dog.

"What shall we name Zombie Hearts, mother?"

"Oh, let's just wait and see till he comes and what he looks like, Robert."

Hahahah

[...WentToMowAnSPL]

I feel a bit like a child waiting to get a new pet dog.

"What shall we name Zombie Hearts, mother?"

"Oh, let's just wait and see till he comes and what he looks like, Robert."

Maybe a poll ??

[Kato]

Maybe a poll ??

I vote they should combine the words "Hearts" and "shares" - "Sharts". Or we could just call them "Fido".

[GordonHFC]

Its like waiting for the doctor to switch off the life support machine of a convicted paedophile.

[Jack]

Meeting postponed to 22 April 2014 because of Easter according to Bloomberg news desk.

Add 20 days cooling off period to that and #allisbarry will be saying Hearts Saved as the 42nd of April just makes it before the money runs out in May!

[PapillonVert]

However, in the current political climate, Vlad may be a worthy pawn to be traded for favours elsewhere. It's no coincidence they've waited till now to collar him, IMO.

I believe it's in the Russian Constitution but it could be a relative right, i.e. you still have to obey the law. A Russian citizen can't be extradited to face trial for a crime not recognised by Russian law, I believe.

He's been arrested under an international arrest warrant issued in Lithuania and so there must be some legal process in place otherwise what a waste of time.

Could be a legal process in place which allows him to be tried in Russia (as long as the same crimes he is charged with exist in Russian law).

[Geo_1875]

I believe it's in the Russian Constitution but it could be a relative right, i.e. you still have to obey the law. A Russian citizen can't be extradited to face trial for a crime not recognised by Russian law, I believe.

He's been arrested under an international arrest warrant issued in Lithuania and so there must be some legal process in place otherwise what a waste of time.

Could be a legal process in place which allows him to be tried in Russia (as long as the same crimes he is charged with exist in Russian law).

Maybe crimes against sub-humanity?

[Phil D. Rolls]

Its like waiting for the doctor to switch off the life support machine of a convicted paedophile.

Oh that's a dark dark place. :agree:

[jakeshibs]

are they not dead yet?

[monktonharp]

the Russians could use Vlad as a bargaining tool. we wont let you have him, unless you promise not to tell the Americans we have 300 tanks on your border:greengrin

[Sanger]

The Huns had their Succulent Lamb, now Hearts could have some Sacrificial Lamb. :greengrin




Have you got a link, 'cos I am not seeing it.
Bloomberg have long stopped covering the story with general articles as of no interest in Lith. No Vlad millions is hidden in the Hearts. This info from a direct conversation with them through my work Bloomberg terminal IM.

[Deansy]

By th time it takes place, if at all, the dissent amongst the UBIG creditors, which we already know about, will surface in the MSM and they will be in exactly the same place as they were when they went into admin, rooked.

There comes a time when enough is enough, if they were a horse they'd be Tesco Burgers by now.

In the Scottish MSM - doubtful !

[Jim44]

Bloomberg have long stopped covering the story with general articles as of no interest in Lith. No Vlad millions is hidden in the Hearts. This info from a direct conversation with them through my work Bloomberg terminal IM.

I also thought the wording of your post suggested the information was on the Bloomsberg news desk.

[Sergey]

Add 20 days cooling off period to that and #allisbarry will be saying Hearts Saved as the 42nd of April just makes it before the money runs out in May!

I'm not sure where the '20 day cooling off period' stems from, but that conflicts with what I've been told.

[...WentToMowAnSPL]

I'm not sure where the '20 day cooling off period' stems from, but that conflicts with what I've been told.

20 days cooling , 4 years defrosting (timing is for a 600w microwave oven )

[Kato]

In the Scottish MSM - doubtful !

...under the guise of "technical issues", a nice neutral excuse to use to cover the fact they are getting the runaround

[bringbackbenny]

Would that not be too sensible?


Do the football debts not have to subtracted from any advance payment from the SPL?

You would think so!

[Kato]

I'm not sure where the '20 day cooling off period' stems from, but that conflicts with what I've been told.

Ooh? Go on, please.

[Dashing Bob S]

...under the guise of "technical issues", a nice neutral excuse to use to cover the fact they are getting the runaround

"We have the green light but it's only technical issues that are stopping the rubber stamp from coming into play."

That's essentially their position.

Those fuds are in for a harsh dose of reality.

[Sanger]

I also thought the wording of your post suggested the information was on the Bloomsberg news desk.

From the Bloomberg news desk in Lith - they have two reporters there.

[BH Hibs]

Borthwick saying sources state Vlad's arrest won't affect CVA. Hope they're not the same sources that told him there would be a meeting yesterday. :cb

[Mikey]

Borthwick saying sources state Vlad's arrest won't affect CVA. Hope they're not the same sources that told him there would be a meeting yesterday. :cb

I suspect he's right.

It will affect those frozen shares though. They're now even less likely to be released.

[Hermit Crab]

Ooh? Go on, please.


Good or bad news? What you reckon?:greengrin

[Jim44]

I suspect he's right.

It will affect those frozen shares though. They're now even less likely to be released.

Kind of, eh, hot frozen shares.:greengrin

[Sanger]

20 days cooling , 4 years defrosting (timing is for a 600w microwave oven )

I suppose there is a question over 20 day cooling period as came from BDO/BBC but seems more like a 20 day window for appeals to a court. From other posts here looks as if some creditors will appeal to a court. Court hearing would have to be set up after 20 day window. More delays and then same again for Ukio if indeed they can be convinced that £2.5m is max they can get - reason for Ukio delay is some Ukio creditors think then can get more. More appeals more delays. Time running out - the big L is coming shimmering down like a massive guillotine.

[Kato]

"We have the green light but it's only technical issues that are stopping the rubber stamp from coming into play."

That's essentially their position.

Those fuds are in for a harsh dose of reality.

They keep it so positive it's unreal, don't want to stampede the cattle I suppose. If, and it's still a big if, they get put into a liquidiser I predict the word "shock" will appear in the headlines of the MSM along with the phrase "the deal was going along smoothly until yesterdays shock news was revealed" in the copy.

[Kato]

Good or bad news? What you reckon?:greengrin


Not really bothered but if the MSM got it wrong/are bull****ting again it's an interesting side show to the Sharts slipping slowly into the gloom.

[Brunswickbill]

The yams' tactic for negotiating with the SPFL over advanced payment.

www.youtube.com/watch?v=Z_JOGmXpe5I

[Springbank]

I suppose there is a question over 20 day cooling period as came from BDO/BBC but seems more like a 20 day window for appeals to a court. From other posts here looks as if some creditors will appeal to a court. Court hearing would have to be set up after 20 day window. More delays and then same again for Ukio if indeed they can be convinced that £2.5m is max they can get - reason for Ukio delay is some Ukio creditors think then can get more. More appeals more delays. Time running out - the big L is coming shimmering down like a massive guillotine.

Serious question ... Do you have to be a named creditor to petition the court with interesting information relevant to the case?

I'd happily send the court a cutting from yesterday's Scotsman (outlining a £15m alternative bid of all things)

Sounds like a relevant "exhibit A" to bring to a courts attention in the interests of getting a fair deal for the impoverished victims of Lithuania who suffered while the likes of larry Kingston and that beslija fellow ate & drank their hard earned cash in the decadent West

[KeithTheHibby]

I could be wrong however I haven't seen anything from BDO regarding yesterday?

[Waxy]

Serious question ... Do you have to be a named creditor to petition the court with interesting information relevant to the case?

I'd happily send the court a cutting from yesterday's Scotsman (outlining a £15m alternative bid of all things)

Sounds like a relevant "exhibit A" to bring to a courts attention in the interests of getting a fair deal for the impoverished victims of Lithuania who suffered while the likes of larry Kingston and that beslija fellow ate & drank their hard earned cash in the decadent WestJust do it anyway.You'll be a Hibs legend if it works.

[Kato]

I could be wrong however I haven't seen anything from BDO regarding yesterday?

By the sounds of things they spent today rounding up their bill and asking the SPFL for an advance on any readies due, t's crossed, i's dotted and all that's left is to call a taxi for the fat lady.

[Dashing Bob S]

By the sounds of things they spent today rounding up their bill and asking the SPFL for an advance on any readies due, t's crossed, i's dotted and all that's left is to call a taxi for the fat lady.

One should imagine that they'll be arguing about who foots the bill for that particular taxi ride.

[KB1]

It would appear we are all wrong, was in a bar in Tenerife last night and was chatting to an older hearts fan who informed me that hibs would be in relegation play off and that Tynecastle has been designated a sports ground therefore no-one will ever get permission to build on it!!!! I stifled my laughter and wished him a happy holiday!!! So so deluded

[Springbank]

Just do it anyway.You'll be a Hibs legend if it works.

No harm sending it in.

I'll keep an eye on which court house the case is heard at :)

[Kato]

One should imagine that they'll be arguing about who foots the bill for that particular taxi ride.


"You two stayed and had that bottle of wine that night", "I paid the guy in Vilnius out my own pocket", "that came out of Billy Brown's cash-in-hand money" - all the humdrum stuff needed to wrap up a gig. It'll be some sausage factory in admin for them next, no trips abroad, no gushing from the MSM.

[TRC]

It would appear we are all wrong, was in a bar in Tenerife last night and was chatting to an older hearts fan who informed me that hibs would be in relegation play off and that Tynecastle has been designated a sports ground therefore no-one will ever get permission to build on it!!!! I stifled my laughter and wished him a happy holiday!!! So so deluded
As i said earlier i know for certain that they could rip it down and a change of use would be simple to get. This is from 2007 but it shouldnt have changed to much.

[Sanger]

Serious question ... Do you have to be a named creditor to petition the court with interesting information relevant to the case?

I'd happily send the court a cutting from yesterday's Scotsman (outlining a £15m alternative bid of all things)

Sounds like a relevant "exhibit A" to bring to a courts attention in the interests of getting a fair deal for the impoverished victims of Lithuania who suffered while the likes of larry Kingston and that beslija fellow ate & drank their hard earned cash in the decadent West

An electronic dossier to all the creditors of Ukio & Unig

[Mellow Hibee]

I'm sure that BDO know what they're doing but I was under the impression that they can't create new creditors while in admin. The money from the SPFL isn't due yet and if they took it and then failed for whatever reason to complete the fixtures then surely that's what they've done.

What would happen if they borrowed it from a bank on the understanding that they would pay it back when they completed the season?

Is it the case that they'll have to structure it as some kind of gift from the SPFL?

Or that they'll have to describe it as selling the rights to recieve their part of the prize money?
(If that was the case then I guess the right to recieve the money would be an asset which they couldn't sell while in admin?)

[SurferRosa]

It would appear we are all wrong, was in a bar in Tenerife last night and was chatting to an older hearts fan who informed me that hibs would be in relegation play off
and that Tynecastle has been designated a sports ground therefore no-one will ever get permission to build on it!!!! I stifled my laughter and wished him a happy holiday!!! So so deluded

I`m fairly certain that St Mirren`s Love Street Stadium was a sports ground......shortly before they flogged the lot to Tesco. Who then promptly re-sold it for housing development.

Where these morons get their information from is a real mystery. :coffee:

[SmashinGlass]

I`m fairly certain that St Mirren`s Love Street Stadium was a sports ground......shortly before they flogged the lot to Tesco. Who then promptly re-sold it for housing development.

Where these morons get their information from is a real mystery. :coffee:

As was Brockville...

[WHUHibs]

Tonight I have just had dinner with a PR guy for the SNP ...he told me that there is no way will Edinburgh council give planning permission for tynecastle to be developed. This is too big a political issue and he is confident that the Budge proposal will succeed.
The delay is due to the Bank trying to get round this and it's the Bank v politics!
Wonder if anyone in the know can check this out as this guys seems quite certain that this will happen,,I hope he is wrong and this information is ****!

[Eyrie]

Tonight I have just had dinner with a PR guy for the SNP ...he told me that there is no way will Edinburgh council give planning permission for tynecastle to be developed. This is too big a political issue and he is confident that the Budge proposal will succeed.
The delay is due to the Bank trying to get round this and it's the Bank v politics!
Wonder if anyone in the know can check this out as this guys seems quite certain that this will happen,,I hope he is wrong and this information is ****!

Could be interesting given that the Council was going to give Cala permission.

[...WentToMowAnSPL]

Tonight I have just had dinner with a PR guy for the SNP ...he told me that there is no way will Edinburgh council give planning permission for tynecastle to be developed. This is too big a political issue and he is confident that the Budge proposal will succeed.
The delay is due to the Bank trying to get round this and it's the Bank v politics!
Wonder if anyone in the know can check this out as this guys seems quite certain that this will happen,,I hope he is wrong and this information is ****!

It would be a bluff that if called would put a huge pressure on the outgoing council as by then there would be no Hearts with a home but a homeless one looking to rent somewhere and a Lithuanian owned land bank .... Rental agreement ? sorted ...
Alternative Sale ? Sorted...
Land no use ? Go to sleep for 5 years and try again.. Less people who care by then

Can we play poker with them ? Can we ??

[Spike Mandela]

Tonight I have just had dinner with a PR guy for the SNP ...he told me that there is no way will Edinburgh council give planning permission for tynecastle to be developed. This is too big a political issue and he is confident that the Budge proposal will succeed.
The delay is due to the Bank trying to get round this and it's the Bank v politics!
Wonder if anyone in the know can check this out as this guys seems quite certain that this will happen,,I hope he is wrong and this information is ****!

Only guessing but in terms of PR for the SNP or ECC the thought they would block developments and investment in Edinburgh to bail out a debt avoiding business due to incestuous sporting allegiences would be political suicide imo.

Not everyone in Edinburgh is a football fan never mind a Hearts fan so sounds like wishful thinking from Mr PR guy.

[NYHibby]

Tonight I have just had dinner with a PR guy for the SNP ...he told me that there is no way will Edinburgh council give planning permission for tynecastle to be developed. This is too big a political issue

Based on my experience making policy in my little corner of this country, it wouldn't surprise me if this was the case before the referendum. There is a pressure on public bodies to avoid doing things which might upset people before the vote.

After the referendum however...

[weecounty hibby]

Tonight I have just had dinner with a PR guy for the SNP ...he told me that there is no way will Edinburgh council give planning permission for tynecastle to be developed. This is too big a political issue and he is confident that the Budge proposal will succeed.
The delay is due to the Bank trying to get round this and it's the Bank v politics!
Wonder if anyone in the know can check this out as this guys seems quite certain that this will happen,,I hope he is wrong and this information is ****!

So to gain the Jambo vote, say 30/40,000 in Edinburgh and a few more around the country they are willing to piss of every other teams supporters as well as all non football fans. I think not. Whatever you think of the SNP they are not stupid people. Also they are within touching distance of their ultimate goal and I doubt that they will do anything crazy like supporting the yams in any way shape or form

[BarneyK]

Tonight I have just had dinner with a PR guy for the SNP ...he told me that there is no way will Edinburgh council give planning permission for tynecastle to be developed. This is too big a political issue and he is confident that the Budge proposal will succeed.
The delay is due to the Bank trying to get round this and it's the Bank v politics!
Wonder if anyone in the know can check this out as this guys seems quite certain that this will happen,,I hope he is wrong and this information is ****!

Do Hibbies not get the vote nowadays like?

[BarneyK]

Based on my experience making policy in my little corner of this country, it wouldn't surprise me if this was the case before the referendum. There is a pressure on public bodies to avoid doing things which might upset people before the vote.

After the referendum however...

Might piss off our side mind. Do we not get an equal vote?

[TRC]

My source wouldn't be wrong about pre 2007 they might of changed their view but they think not.

[Kato]

Any obstacles to change of use or planning permission have been hastily invented recently by Hearts sympathisers among the politicos and the press. Why would any blast zone affect the use when it's already agreed that part of the distillers works will be moved when the build their offices on the school. Even the cost of the land has, on first glance, been tampered with somehow. A piece of land two-thirds the size of another piece adjoining going for under a million when the larger section was valued at eighteen million not too long ago. There's been fluctuations but that's a bit hard to swallow. It was all gung-ho when Cala were building homes - the biggest bull****ters ever.

[Bostonhibby]

On yackback the yam seem to think the £1.5m they say they will be donating every year (so long as the DD's don't decline) will not be subject to tax. Can any of our experts confirm if this is correct please - it doesn't seem right to treat income in this way, they are not a registered charity so not exempt - their charity record is not great - and its not clear the donation is a charitable one.

[jgl07]

Tonight I have just had dinner with a PR guy for the SNP ...he told me that there is no way will Edinburgh council give planning permission for tynecastle to be developed. This is too big a political issue and he is confident that the Budge proposal will succeed.
The delay is due to the Bank trying to get round this and it's the Bank v politics!
Wonder if anyone in the know can check this out as this guys seems quite certain that this will happen,,I hope he is wrong and this information is ****!
If it was turned down for non-planning reasons the result would be reversed on appeal.

Don't believe bull**** especially from the SNP.

[mim]

On yackback the yam seem to think the £1.5m they say they will be donating every year (so long as the DD's don't decline) will not be subject to tax. Can any of our experts confirm if this is correct please - it doesn't seem right to treat income in this way, they are not a registered charity so not exempt - their charity record is not great - and its not clear the donation is a charitable one.
Companies are taxed on profits, not income

[Jack]

Tonight I have just had dinner with a PR guy for the SNP ...he told me that there is no way will Edinburgh council give planning permission for tynecastle to be developed. This is too big a political issue and he is confident that the Budge proposal will succeed.
The delay is due to the Bank trying to get round this and it's the Bank v politics!
Wonder if anyone in the know can check this out as this guys seems quite certain that this will happen,,I hope he is wrong and this information is ****!

There's no precident, as far as I am aware, for a Scottish council blocking such a move and plenty precident where football stadia have become supermarkets.

[...WentToMowAnSPL]

There's no precident, as far as I am aware, for a Scottish council blocking such a move and plenty precident where football stadia have become supermarkets.

Lidl to worry about yam lookers in !

[Paisley Hibby]

I`m fairly certain that St Mirren`s Love Street Stadium was a sports ground......shortly before they flogged the lot to Tesco. Who then promptly re-sold it for housing development.

Where these morons get their information from is a real mystery. :coffee:

For the first time ever something comes up on Hibs Net that I actually know something about (I'm a planner).

The Council's new Local Development Plan zones the Tynecastle Pitch (but not the stands) as Open Space. So it seems that it's only the pitch that's protected. Also, it's not an absolute ban on development on the pitch. The Council acknowledges that development could be permitted in exceptional circumstances. This could include, for example, a development of community benefit which also provides for a replacement pitch being created elsewhere.

Having said that, this plan would give the Council the reasons it might need if it was determined to refuse permission for political reasons. A developer could then appeal to the Scottish Government but that would cost time and money with no certainty of success. All that will be reflected in the valuation of the PBS.

The Council also zones the Easter Road pitch as open space.

[NYHibby]

My post was a general comment, and it was about delaying bad news until a time when it is more "palatable" to deliver. While I can't speak about the other parties, it wouldn't surprise me if they have adopted the same policy at the councils they control.

However, while planning applications are outside my area, even if Hearts were liquidated tomorrow and the stadium was sold, I would have thought that a planning application would not be decided before September anyway. Therefore no delaying would be needed and my comment does not apply.

If the application is in process, why would the SNP lose votes from Hibs supporters? They wouldn't be blocking anything.

[CropleyWasGod]

On yackback the yam seem to think the £1.5m they say they will be donating every year (so long as the DD's don't decline) will not be subject to tax. Can any of our experts confirm if this is correct please - it doesn't seem right to treat income in this way, they are not a registered charity so not exempt - their charity record is not great - and its not clear the donation is a charitable one.

Pretty sure that the donations will be treated as repayment of the loan from AB. Therefore not taxable.
It's late though. ..I'll rethink it tomorrow.

[Bostonhibby]

Companies are taxed on profits, not income

Agreed - Sorry ,wrong phrase I guess, never knew what to call it - it just doesn't sit easy that this large intake of what is basically unearned cash won't be taxed - what's to stop other businesses moving cash to subsidiaries and calling it a donation thus avoiding tax. Not my area so keen to understand - I seem to recall an earlier comment on the point but can't find it.

[BarneyK]

My post was a general comment, and it was about delaying bad news until a time when it is more "palatable" to deliver. While I can't speak about the other parties, it wouldn't surprise me if they have adopted the same policy at the councils they control.

However, while planning applications are outside my area, even if Hearts were liquidated tomorrow and the stadium was sold, I would have thought that a planning application would not be decided before September anyway. Therefore no delaying would be needed and my comment does not apply.

If the application is in process, why would the SNP lose votes from Hibs supporters? They wouldn't be blocking anything.

Same logic applies to the yams surely? Oh and lest we forget, we're not voting for the SNP in September :wink:

[Bostonhibby]

Pretty sure that the donations will be treated as repayment of the loan from AB. Therefore not taxable.
It's late though. ..I'll rethink it tomorrow.

:aok:

[Sammy7nil]

Based on my experience making policy in my little corner of this country, it wouldn't surprise me if this was the case before the referendum. There is a pressure on public bodies to avoid doing things which might upset people before the vote.

After the referendum however...

Agreed

[s.a.m]

For the first time ever something comes up on Hibs Net that I actually know something about (I'm a planner).

The Council's new Local Development Plan zones the Tynecastle Pitch (but not the stands) as Open Space. So it seems that it's only the pitch that's protected. Also, it's not an absolute ban on development on the pitch. The Council acknowledges that development could be permitted in exceptional circumstances. This could include, for example, a development of community benefit which also provides for a replacement pitch being created elsewhere.

Having said that, this plan would give the Council the reasons it might need if it was determined to refuse permission for political reasons. A developer could then appeal to the Scottish Government but that would cost time and money with no certainty of success. All that will be reflected in the valuation of the PBS.

The Council also zones the Easter Road pitch as open space.

Thanks for that. What would happen, though, if Hearts themselves decided they wanted to ground share with Livingston, for financial reasons. Does this mean that they would struggle to sell Tynecastle to a developer?

[VivaHiberña]

Might piss off our side mind. Do we not get an equal vote?

Yes, but we're just a wee team so there's no way the 400,000 could ever be outvoted.

[Jack]

For the first time ever something comes up on Hibs Net that I actually know something about (I'm a planner).

The Council's new Local Development Plan zones the Tynecastle Pitch (but not the stands) as Open Space. So it seems that it's only the pitch that's protected. Also, it's not an absolute ban on development on the pitch. The Council acknowledges that development could be permitted in exceptional circumstances. This could include, for example, a development of community benefit which also provides for a replacement pitch being created elsewhere.

Having said that, this plan would give the Council the reasons it might need if it was determined to refuse permission for political reasons. A developer could then appeal to the Scottish Government but that would cost time and money with no certainty of success. All that will be reflected in the valuation of the PBS.

The Council also zones the Easter Road pitch as open space.

Over the past few years in Edinburgh we've seen school sports grounds sold off left, right and centre for private development. The council is currently hell bent, for better or for worse, trying to build the new Porty High School on a public park.

Edinburgh Council would be hard pushed justifying protecting a football pitch that doesn't measure up to modern specifications.

[greenginger]

For the first time ever something comes up on Hibs Net that I actually know something about (I'm a planner).

The Council's new Local Development Plan zones the Tynecastle Pitch (but not the stands) as Open Space. So it seems that it's only the pitch that's protected. Also, it's not an absolute ban on development on the pitch. The Council acknowledges that development could be permitted in exceptional circumstances. This could include, for example, a development of community benefit which also provides for a replacement pitch being created elsewhere.

Having said that, this plan would give the Council the reasons it might need if it was determined to refuse permission for political reasons. A developer could then appeal to the Scottish Government but that would cost time and money with no certainty of success. All that will be reflected in the valuation of the PBS.

The Council also zones the Easter Road pitch as open space.

If UKIO take control of the PBS they should clear the site of all stands, pitch, infrastructure. This would not require planning permission of any sort and once any prospect of the place being used as a football stadium has gone, politicions will move on, and planners and developers can work on an acceptable scheme.

NewCo Yam will already have found a new venue, Murrayfield, Meadowbank, Saughton enclosure or who ever will share with them.

The idea that a vacant 6 acre site 1 mile from the city centre could never be developed because a corrupt football club who went bankrupt owing millions, once played there, is just a Yam fantasy.

[Eyrie]

For the first time ever something comes up on Hibs Net that I actually know something about (I'm a planner).

The Council's new Local Development Plan zones the Tynecastle Pitch (but not the stands) as Open Space. So it seems that it's only the pitch that's protected. Also, it's not an absolute ban on development on the pitch. The Council acknowledges that development could be permitted in exceptional circumstances. This could include, for example, a development of community benefit which also provides for a replacement pitch being created elsewhere.

Having said that, this plan would give the Council the reasons it might need if it was determined to refuse permission for political reasons. A developer could then appeal to the Scottish Government but that would cost time and money with no certainty of success. All that will be reflected in the valuation of the PBS.

The Council also zones the Easter Road pitch as open space.

My brain cell is working overtime, but "community benefit" sounds like a property developer could improve facilities for amateur footballers at nearby Saughton to satisfy the "exceptional circumstances" test. And it would be very difficult for the Council to refuse that offer on the basis that there is no benefit to the Yams.

I've also floated the idea before that a developer could offer to let Yamco stay rent free at the PBS for a couple of years in exchange for supporting the housing application. Since the alternative would be to become homeless and pay rent, they'd have little choice but to agree (assuming they have any financial sense) which would make it even harder to refuse permission. However their support would hate the idea of moving which will lead to plenty of bickering within Save Hearts In Trouble :greengrin

[monktonharp]

So to gain the Jambo vote, say 30/40,000 in Edinburgh and a few more around the country they are willing to piss of every other teams supporters as well as all non football fans. I think not. Whatever you think of the SNP they are not stupid people. Also they are within touching distance of their ultimate goal and I doubt that they will do anything crazy like supporting the yams in any way shape or formthis is all very complex!?!! if you are reffering to the forthcoming referendum vote on the 18th of September, can I remind you and a few others on here that the vote is for YES/NO AND IT IS FOR INDEPENDENCE OR NOT for Independence. It Is not a vote for Alex Salmond, and it is not for the SNP. all very confusing. there are/will be thousands who will vote for YES, who have no allegiance with the SNP or otherwise.

[monktonharp]

If it was turned down for non-planning reasons the result would be reversed on appeal.

Don't believe bull**** especially from the SNP.aye awrite, the SNP are experts on bull****ting. top of the league, leaving the tories/lab/libs in their trail eh?:rolleyes:

[Eyrie]

this is all very complex!?!! if you are reffering to the forthcoming referendum vote on the 18th of September, can I remind you and a few others on here that the vote is for YES/NO AND IT IS FOR INDEPENDENCE OR NOT for Independence. It Is not a vote for Alex Salmond, and it is not for the SNP. all very confusing. there are/will be thousands who will vote for YES, who have no allegiance with the SNP or otherwise.

And yet the white paper reads like a party manifesto rather than a serious proposal for a constitution.

People will vote for all sorts of reasons in September, and both sides are anxious not to do anything that will hurt their cause. That is why the politicians will stay well clear of being seen to help out the Yams, because there will be justifiable outrage from the voters that don't care about football.

[DC_Hibs]

My brain cell is working overtime, but "community benefit" sounds like a property developer could improve facilities for amateur footballers at nearby Saughton to satisfy the "exceptional circumstances" test.

They could stick up a CCTV camera outside a kids playground in West Edinburgh which would "benefit the community" as a deterrent for Savile Perverts in maroon sniffing around the bairns playing there.

With a recent history of having a fiddler Manager, PlayerS and fans they need a watching.

While they're at it the could maybe pay for financial crime awareness training for the Poppy Factory, Charities and Local business that they robbed from.

The club with no shame/the sh !te that wouldn't flush.

Hope they die soon.

[monktonharp]

Over the past few years in Edinburgh we've seen school sports grounds sold off left, right and centre for private development. The council is currently hell bent, for better or for worse, trying to build the new Porty High School on a public park.

Edinburgh Council would be hard pushed justifying protecting a football pitch that doesn't measure up to modern specifications.:agree:especially if it is a diddy fitba team that went bust,privately owned business failure ......and before they did ,they ripped off the people of Edin. all and sundry. and yet they are trying to build a school on publicly owned common land!

[Sergey]

I'm stuck on a crossword clue:

The chances of Heart of Midlothian finding happiness this week (4, 3)

[monktonharp]

[QUOTE=Eyrie;3964886]And yet the white paper reads like a party manifesto rather than a serious proposal for a constitution ...The same could be said about the quotes made from the Chancellor re-the pound:wink: difference being, he popped up to Embra, said his piece, refused to speak to the media and was whisked off in a big shiney black Bentley back to wherever he comes fi'.

[monktonharp]

I'm stuck on a crossword clue:

The chances of Heart of Midlothian finding happiness this week (4, 3) did you try "good god" ?:greengrin

[Peevemor]

I'm stuck on a crossword clue:

The chances of Heart of Midlothian finding happiness this week (4, 3)

Très peu !

[GreenLake]

Back in San Diego today. Had Chicken Soltani in a Persian Restaurant called "Bandar". Was wondering if the little **** had published any more sheetcrap. FTH

[Kato]

I'm stuck on a crossword clue:

The chances of Heart of Midlothian finding happiness this week (4, 3)

None. Yes?

[kaimendhibs]

Any letters?


Sent from my iphone

[s2hart]

I'm stuck on a crossword clue:

The chances of Heart of Midlothian finding happiness this week (4, 3)

Hope n Norfolk,

I can't seem to get it in the right order, balls it doesn't fit, I was never good at crosswords!! :confused:

[Brunswickbill]

If UKIO take control of the PBS they should clear the site of all stands, pitch, infrastructure. This would not require planning permission of any sort and once any prospect of the place being used as a football stadium has gone, politicions will move on, and planners and developers can work on an acceptable scheme.

NewCo Yam will already have found a new venue, Murrayfield, Meadowbank, Saughton enclosure or who ever will share with them.

The idea that a vacant 6 acre site 1 mile from the city centre could never be developed because a corrupt football club who went bankrupt owing millions, once played there, is just a Yam fantasy.

Future development of PBS


It all depends on who buys it. It FOH/Bidco get it, it will continue, probably with EDC connivance giving them safety certificates but eventually they will have to go into debt to fix the main stand up causing major financial problems and much gnashing of teeth from the natives about investment in the team.


If a developer intent on demolition buys it there are a number of ways he can go about development in the face of opposition. Developers are a scheming bunch don't forget! Here is one scenario
1 New owner Offers it to Bidco at et economic full repairing rent.
2. Bidco can't afford it and Yams move to Livi / Murrayfield.......
3. Owner says that the main stand is a death trap and needs to be demolished and removes the main stand.
4. Leaves grass to grow on unused pitch with only three sideswipe he prepares his development proposals
5. Meanwhile Yams start to claw their way up the leagues in their new home.
6. Developer along with Distiller who is adjoining owner submit joint application for comprehensive development of PBS , school and distillery with Aldi, sports facility, flats etc etc. Includes construction of all weather pitch at Saughton as a sop for loss of open space.
7. Yam Fans now resigned to new home with aspirations of a super stadium to be built west of Edinburgh.
6. EDC Planning Committee approve application after strong lobbying by distillers and owner of PBS and threats of appeal and court action. Yam councillors give tearful statements saying they have no option and what a sad day it is. 5-1 etc etc
7 Hibs win the Scottish Cup.

Totally believable scenario IMHO aIMHO a:drunk::drunk:

[PapillonVert]

I'm sure that BDO know what they're doing but I was under the impression that they can't create new creditors while in admin. The money from the SPFL isn't due yet and if they took it and then failed for whatever reason to complete the fixtures then surely that's what they've done.

What would happen if they borrowed it from a bank on the understanding that they would pay it back when they completed the season?

Is it the case that they'll have to structure it as some kind of gift from the SPFL?

Or that they'll have to describe it as selling the rights to recieve their part of the prize money?
(If that was the case then I guess the right to recieve the money would be an asset which they couldn't sell while in admin?)

According to the Hootsmon this morning, £590,000 of the £690,000 has already been handed over! :rolleyes:

Clearly, no budgetary management lessons learned at the PBS yet.

Still, they must be really desperate now if they are begging for the final £100,000.

[PapillonVert]

If UKIO take control of the PBS they should clear the site of all stands, pitch, infrastructure. This would not require planning permission of any sort and once any prospect of the place being used as a football stadium has gone, politicions will move on, and planners and developers can work on an acceptable scheme.

NewCo Yam will already have found a new venue, Murrayfield, Meadowbank, Saughton enclosure or who ever will share with them.

The idea that a vacant 6 acre site 1 mile from the city centre could never be developed because a corrupt football club who went bankrupt owing millions, once played there, is just a Yam fantasy.

Indeed. They could do what Arsenal did at Highbury and keep the pitch as a garden space and build flats/retail around it where the stands currently are!

[Weststandwanab]

Tonight I have just had dinner with a PR guy for the SNP ...he told me that there is no way will Edinburgh council give planning permission for tynecastle to be developed. This is too big a political issue and he is confident that the Budge proposal will succeed.
The delay is due to the Bank trying to get round this and it's the Bank v politics!
Wonder if anyone in the know can check this out as this guys seems quite certain that this will happen,,I hope he is wrong and this information is ****! Yam fantasy nonsense IMO


Could be interesting given that the Council was going to give Cala permission. Quite



So to gain the Jambo vote, say 30/40,000 in Edinburgh and a few more around the country they are willing to piss of every other teams supporters as well as all non football fans. I think not. Whatever you think of the SNP they are not stupid people. Also they are within touching distance of their ultimate goal and I doubt that they will do anything crazy like supporting the yams in any way shape or form Spot on.


On yackback the yam seem to think the £1.5m they say they will be donating every year (so long as the DD's don't decline) will not be subject to tax. Can any of our experts confirm if this is correct please - it doesn't seem right to treat income in this way, they are not a registered charity so not exempt - their charity record is not great - and its not clear the donation is a charitable one. It will be subject to tax and V.A.T. if it is deemed regular.


Companies are taxed on profits, not income The are but donations increase income and therefore profits


Pretty sure that the donations will be treated as repayment of the loan from AB. Therefore not taxable.
It's late though. ..I'll rethink it tomorrow. That could be the case it shares were either issued/transferred from Bidco in exchange or the "donations".


I'm stuck on a crossword clue:

The chances of Heart of Midlothian finding happiness this week (4, 3)F??k All


According to the Hootsmon this morning, £590,000 of the £690,000 has already been handed over! :rolleyes:

Clearly, no budgetary management lessons learned at the PBS yet.

Still, they must be really desperate now if they are begging for the final £100,000. Last throw of the dice !

[#FromTheCapital]

Yam fantasy nonsense IMO

Quite


Spot on.

It will be subject to tax and V.A.T. if it is deemed regular.

The are but donations increase income and therefore profits

That could be the case it shares were either issued/transferred from Bidco in exchange or the "donations".

F??k All

Last throw of the dice !

Is it really necessary to multi quote so many different posts? You do this on a regular basis and to be honest with you it's quite annoying.

[gegs70]

Is £100k enough to see them through the remaining 5 fixtures?

[Ronniekirk]

According to the Hootsmon this morning, £590,000 of the £690,000 has already been handed over! :rolleyes:

Clearly, no budgetary management lessons learned at the PBS yet.

Still, they must be really desperate now if they are begging for the final £100,000.
Yet they didn't get rid of billy brown and assume still there picking up a wage .They keep wanting everyone else to bail them out .They could of sold more young players but didn't they know that the league will want them to complete fixtures and therefore help out it's emotional blackmail but this lot will stop at nothing .

[the_ginger_hibee]

Yet they didn't get rid of billy brown and assume still there picking up a wage .They keep wanting everyone else to bail them out .They could of sold more young players but didn't they know that the league will want them to complete fixtures and therefore help out it's emotional blackmail but this lot will stop at nothing .

Billy 'Struggling' Brown is working for free now.

I'd agree with your points, presumably the guy on loan will be picking up some sort of fee/wage so that's another expense they could easily have done without. On today's news though, all they are left to receive from the league is £100,000. They must really be down to the last few pounds knowing what the club costs to run and how little a dent £100,000 would make on the whole.

[greenpaper55]

Yet they didn't get rid of billy brown and assume still there picking up a wage .They keep wanting everyone else to bail them out .They could of sold more young players but didn't they know that the league will want them to complete fixtures and therefore help out it's emotional blackmail but this lot will stop at nothing .

I think Broonie is working without a wage as of last week, when that was announced it made me wonder if the piggy bank was almost empty and it is !.

[Jim44]

Yet they didn't get rid of billy brown and assume still there picking up a wage .They keep wanting everyone else to bail them out .They could of sold more young players but didn't they know that the league will want them to complete fixtures and therefore help out it's emotional blackmail but this lot will stop at nothing .

There's a post over there about an upcoming U20 cup final tie and they are talking about cramming the team with all the regular first team players who are eligible. So much for their worries about burning out and putting too much pressure on the 'wee boys'. If they were so concerned about this you would have thought that the absence of pressure in their five remaining matches would allow them to rest a lot of them. The bottom line is of-course that their complaints were lies.

[MacBean]

Is it really necessary to multi quote so many different posts? You do this on a regular basis and to be honest with you it's quite annoying.

:agree:

[oregonhibby]

The administrator for the bank have to get the highest possible value from any assets they hold as security. If they believe for one minute that they can get more on the open market then they have to.


Despite what is being said about the land on the other site, it does have value. Housing sites in Edinburgh are being bought as the market returns. A builder I work for is looking at 3 sites in Edinburgh. With the discount to market they could achieve here any builder would be off their head not to look at it! Even at, say £5m the size of the site without the blast zone issues would be a money maker.


The HFC boys will be hoping that their pals at EDC would make it difficult to get planning but a determined builder would see that off.


This has a way to run.

[Hibs07p]

I'm stuck on a crossword clue:

The chances of Heart of Midlothian finding happiness this week (4, 3)

F*** Off.

GGTTH

[Www1875hfc]

So Hearts receive £790k for finishing 12th
Of which £690k has already been paid out.
Leaves the puddle drinkers with 100k ?

They really are only left with enough money that would barely last a week ?

Dearie me. :greengrin

[Mikey]

So Hearts receive £790k for finishing 12th
Of which £690k has already been paid out.
Leaves the puddle drinkers with 100k ?

They really are only left with enough money that would barely last a week ?

Dearie me. :greengrin

Do we know that for sure? It doesn't count if it's in the papers :greengrin

We were working on the basis that the £535k footballing debt was to be paid from that. If it is the case then that's another big chunk they've got to find.