Share Transfers Agreed/Cooling off period

[Ronniekirk]

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.
Wonder if they will try and charge for fans last chance to see them win silverware for the next decade at least Wouldn't be surprised :wink:

[greenginger]

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

Certainly that £ 690 K explains the spending gap from the BDO interim report.

They only had £ 720 K in the kitty on 18/12/2013 and expenses averaging £95 K per week.

Sure they got a few quid from Swansea,League cup semi, Hibs and Celtic games at the PBS, but that was it .

Without that £ 720 K, they would have been out of cash in the middle of March.

[StevieC]

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.

It doesn't annoy me, infact I prefer that to individually replying to half a dozen posts. Isn't that the purpose of the multiquote feature?

[Hank Schrader]

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:

Irritates me too, please stop Weststandwanab, there surely isn't any need to respond to all those posts!!

[magpie1892]

As was Brockville...

As was Broomfield
As was Muirton Park
etc.,

But the yams are special, don't you know.

[greenginger]

After previous " misunderstandings " with HMRC , I take it BDO will be required to account for tax deductions, NI, and VAT on a monthly basis, so no huge quarterly bill lurking in some drawer.

Do the Yam players and staff still get paid mid-month ? Kinda miss the Tweets from the first poor sucker to try the cash machine and find out Santa had'nt been yet.

Them were the days ! :greengrin

[#FromTheCapital]

It doesn't annoy me, infact I prefer that to individually replying to half a dozen posts. Isn't that the purpose of the multiquote feature?

The multiquote feature is fine, but when you're selecting numerous random posts and responding with short answers every time on a daily basis then it gets quite annoying. The point is there's no need at all to respond to all these posts!

[s.a.m]

It doesn't annoy me, infact I prefer that to individually replying to half a dozen posts. Isn't that the purpose of the multiquote feature?

:agree: Me too.

[CropleyWasGod]

:aok:

Okay, returning to this.

1. in the books of FOH, there is no profit. Donations received are paid out. There is no trading, either. Result... no Corporation Tax or VAT.

2. in Bidco's books, slightly more complicated. Bidco is putting up cash to fund the first few years. £2.5m for the club, £1m for initial working capital, and then "not less than" £1.4m for WC for each of the next two seasons. Total, at least, £6.3m.

That money will be either AB's personally, paid in either in the form of a loan or shares, or put up by a bank. However that part is structured, the payments from FOH will be repayments of that. Result, no CT or VAT.

[Glesgahibby]

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 its "to big a political issue"then it would be a"mother of political issue"to explain to normal(non hearts fans)taxpaying/voters why you would do such a thing.
Its pretty clear the sports hacks in this country don't have a clue and are very bias towards the hearts cause.Can you imagine a proper political/mainstream journalist getting his teeth into this.
Forget the council,do you think the SNP as a party would risk this?
threatening another European government

[hibeemikey21]

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:


:agree:

Irritates me too, please stop Weststandwanab, there surely isn't any need to respond to all those posts!!


The multiquote feature is fine, but when you're selecting numerous random posts and responding with short answers every time on a daily basis then it gets quite annoying. The point is there's no need at all to respond to all these posts!

Doesn't bother me at all








:wink:

[HFC 0-7]

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.

Mikey, think the papers have it wrong slightly. I am sure they were advanced 150k right at the start of the admin process, then there will be 535k ring fenced for football debts which is about the 690k mark.

[Bostonhibby]

Okay, returning to this.

1. in the books of FOH, there is no profit. Donations received are paid out. There is no trading, either. Result... no Corporation Tax or VAT.

2. in Bidco's books, slightly more complicated. Bidco is putting up cash to fund the first few years. £2.5m for the club, £1m for initial working capital, and then "not less than" £1.4m for WC for each of the next two seasons. Total, at least, £6.3m.

That money will be either AB's personally, paid in either in the form of a loan or shares, or put up by a bank. However that part is structured, the payments from FOH will be repayments of that. Result, no CT or VAT.

Cheers CWG, and weststandwanabee above (whose multiquote replies I like).

Looks like instead of paying tax on investment earnings I should just get a football club, donate all I have and sit back and collect the profits every year. Anyone know a big team that's going cheap and bound to be in the black for years to come?

[StevieC]

The multiquote feature is fine, but when you're selecting numerous random posts and responding with short answers every time on a daily basis then it gets quite annoying. The point is there's no need at all to respond to all these posts!

Just ignore them then :dunno:

[Glesgahibby]

I'm stuck on a crossword clue:

The chances of Heart of Midlothian finding happiness this week (4, 3)
Alls baz
:greengrin

[#FromTheCapital]

Just ignore them then :dunno:

Or better yet, ask the only person on this entire forum who does this regularly to stop.

[hibbill2002]

The multiquote feature is fine, but when you're selecting numerous random posts and responding with short answers every time on a daily basis then it gets quite annoying. The point is there's no need at all to respond to all these posts!

I wish you would stop posting. Your really annoying .

[Mikey]

Any chance we can get back on topic please folks :wink:

[Geo_1875]

Just ignore them then :dunno:

I like his multi-quote posting style. It's easier to ignore him in large chunks than lots of individual replies.

[Glesgahibby]

Any chance we can get back on topic please folks :wink:
****** the hearts:greengrin

[#FromTheCapital]

I wish you would stop posting. Your really annoying .

Sorry if I wind you up so much buddy, can't say I've even noticed you before. Here's another post to annoy you.

[hibbill2002]

Calling me buddy is really annoying, please stop.

[EH6 Hibby]

If its "to big a political issue"then it would be a"mother of political issue"to explain to normal(non hearts fans)taxpaying/voters why you would do such a thing.
Its pretty clear the sports hacks in this country don't have a clue and are very bias towards the hearts cause.Can you imagine a proper political/mainstream journalist getting his teeth into this.
Forget the council,do you think the SNP as a party would risk this?
threatening another European government

Threaten another European government? That could be considered an act of war. With no Yams around, who would save us?

[Glesgahibby]

Threaten another European government? That could be considered an act of war. With no Yams around, who would save us?
Shhhh,I was hoping they wouldn't think of that:greengrin

[#FromTheCapital]

Calling me buddy is really annoying, please stop.

Good, my work here is done. Bye

[FranckSuzy]

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.

:faf:

[FranckSuzy]

I like his multi-quote posting style. It's easier to ignore him in large chunks than lots of individual replies.

:tee hee:

[Weststandwanab]

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. May I respectfully suggest you vote with your eyes ?

[WHUHibs]

Sorry if I wind you up so much buddy, can't say I've even noticed you before. Here's another post to annoy you.
:greengrin

[Weststandwanab]

It doesn't annoy me, infact I prefer that to individually replying to half a dozen posts. Isn't that the purpose of the multiquote feature? Thank you.

Funnily enough I thought that was the purpose of the Multi quote too -

[WHUHibs]

:duck::duck:
Calling me buddy is really annoying, please stop.

:greengrin

[scott7_0(Prague)]

Are they deid yet?

[Weststandwanab]

:agree: Me too. Thanks to you and others for taking the time to post on this - in a singular format.

[Keith_M]

May I respectfully suggest you vote with your eyes ?


Where's the rest of the quotes?

[Keith_M]

Back on topic...


Before I choose to believe this 'PR man for the SNP', 'insider at Bloomberg', etc, any chance of naming names?

if you claim to know someone in the know, and that person has nothing to fear by being named, why not just tell us who it is?


Much worse than weststandwanabee's multi-quotes are all these people claiming some informative source, when most of them are talking out of their *rses.

[Jay]

Can you please keep the thread on track people

[madsen5]

Are they deid yet?

Unfortunately not .

[jakeshibs]

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.

if the SNP were to get involved in this an assist the YAMS they would defo lose my families vote.

[oldbutdim]

Thank you.

Funnily enough I thought that was the purpose of the Multi quote too -


I seem to recall that you got a bit of a scolding on the Bounce about multi-quoting.


But that was because you DIDN'T use it at first and you were told to do so!

:greengrin


That was you wasn't it?

Seems you just can't please everyone eh!
:tee hee:

[Weststandwanab]

I seem to recall that you got a bit of a scolding on the Bounce about multi-quoting.


But that was because you DIDN'T use it at first and you were told to do so!

:greengrin


That was you wasn't it?

Seems you just can't please everyone eh!
:tee hee:
You are 100% correct Sir and indeed you cannot.

[Just Alf]

As a rule, Multi quote is a great tool, but as in everything in this world it's best in moderation and when the quotes are all specific to each other.

As with all rules, there's always an exception and in this case it's the yams..... I just want them 100% deid! No moderation/halfway house for them!

GGTTH

[lord bunberry]

Mikey, think the papers have it wrong slightly. I am sure they were advanced 150k right at the start of the admin process, then there will be 535k ring fenced for football debts which is about the 690k mark.
So either way they're getting very little if the spfl decide to advance them what they're due at the end of the season.

[...WentToMowAnSPL]

So either way they're getting very little if the spfl decide to advance them what they're due at the end of the season.

I don't think they have to ring fence the footballing debt - just they might not get their history or play in Europe hahaha

[HFC 0-7]

I don't think they have to ring fence the footballing debt - just they might not get their history or play in Europe hahaha

I think it will be a condition that they pay the debts if they are allowed into the bottom league should they be put in the blender

[clerriehibs]

Back on topic...


Before I choose to believe this 'PR man for the SNP', 'insider at Bloomberg', etc, any chance of naming names?

if you claim to know someone in the know, and that person has nothing to fear by being named, why not just tell us who it is?


Much worse than weststandwanabee's multi-quotes are all these people claiming some informative source, when most of them are talking out of their *rses.

You're right about it being better if inside info is attributable, but if you do have conacts, and bandy their names around, very quickly you'll find you don't have contacts.

[steviehibsleith]

From today's Scotsman page 10 for financial guru's on Here does this relate to the frozen shares ?
It is last paragraph from report on the fugitive Romanov.
"Ukio Bankas was declared insolvent, it's operations suspended, and the Russian-born businessmans accounts frozen by the Central bank"

[CropleyWasGod]

From today's Scotsman page 10 for financial guru's on Here does this relate to the frozen shares ?
It is last paragraph from report on the fugitive Romanov.
"Ukio Bankas was declared insolvent, it's operations suspended, and the Russian-born businessmans accounts frozen by the Central bank"

Doesn't relate at all. The assets that are important in HMFC's case are UBIG's shares in HMFC.

The Scotsman journo who hosted the webchat yesterday promised to ask BDO about them. Still waiting.....

[SmashinGlass]

Yam fantasy nonsense IMO

The are but donations increase income and therefore profits

Not necessarily. Increased income does not always result in increased profit (if any profit at all).

[Sanger]

Doesn't relate at all. The assets that are important in HMFC's case are UBIG's shares in HMFC.

The Scotsman journo who hosted the webchat yesterday promised to ask BDO about them. Still waiting.....

And UKIO's shares in HMFC.

[CropleyWasGod]

And UKIO's shares in HMFC.

There is no report of their having been frozen.

[Weststandwanab]

Tad dull - hope this doesn't become a habit !

:wink: :wink:


Not necessarily. Increased income does not always result in increased profit (if any profit at all). It does in this case - assuming they survive.

[Keith_M]

You're right about it being better if inside info is attributable, but if you do have conacts, and bandy their names around, very quickly you'll find you don't have contacts.


There's also the other side of the argument that too many people claiming to have 'inside info' makes it more difficult to know who to believe, although some are quite obvious wind-up merchants (especially if their user name is 'KB something').

There have been a couple of real wallopers in this regard in the last few days that have left me in no doubt but, in their cases, I feel more pity than anything.

[Dashing Bob S]

It doesn't annoy me, infact I prefer that to individually replying to half a dozen posts. Isn't that the purpose of the multiquote feature?

I'm a fan of WSW's multi quotes too. It's nice to have a succinct summary/comment/put down of posts, especially ones you know are invariably going to be rambling or nonsense.

It's become a signature and has a certain charm.

[Weststandwanab]

I'm a fan of WSW's multi quotes too. It's nice to have a succinct summary/comment/put down of posts, especially ones you know are invariably going to be rambling or nonsense.

It's become a signature and has a certain charm. I appreciate that thank you DBS.

[Dashing Bob S]

The great thing about this Hearts case is it seems to follow a pattern:

1. No real news
2. A glimmer of positive hope
3. Ludicrous spin by FOH/media
4. Massive vainglorious trumpeting from Kickback
5. Note of caution from BDO
6. Devastatingly bad news/further delays from Lithland

(Repeat till liquidation)

[Sanger]

Romanov's future to be decided on Thursday:

http://www.lithuaniatribune.com/66524/moscow-to-rule-on-fugitive-banker-romanov-on-thursday-201466524/

[Sanger]

There is no report of their having been frozen.

Given Romanov owned 65% of Ukio I would be surprised if they were not frozen as they related to "bad" loans to UBIG and Hearts. Will try and find out.

[greenginger]

Romanov's future to be decided on Thursday:

http://www.lithuaniatribune.com/66524/moscow-to-rule-on-fugitive-banker-romanov-on-thursday-201466524/





Don't forget the endless appeals, serious heart condition, and the rest.

Romanov won't be back in Lithland this side of Christmas unless he's been funding the wrong politicians or been caught selling Pussy Riot CD's out the back of his taxi. :greengrin

[Weststandwanab]

:thumbsup: Double http://www.hibs.net/images/smilies/thumbs%20up.gifI wonder how Ian - I was an M.P - Murray will spin this.


Given Romanov owned 65% of Ukio I would be surprised if they were not frozen as they related to "bad" loans to UBIG and Hearts. Will try and find out.If I may be permitted, I would think that is a racing certainty

You can take that to the Bank just not UKIO

[BurghHibby]

Romanov's future to be decided on Thursday:

http://www.lithuaniatribune.com/66524/moscow-to-rule-on-fugitive-banker-romanov-on-thursday-201466524/

Also a link further down re the frozen assets

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

Heh haw!

[...WentToMowAnSPL]

Also a link further down re the frozen assets

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

Heh haw!

Wow !!! Does this mean NO SALE


http://img.tapatalk.com/d/14/04/09/y4aqe4ur.jpg

[steviehibsleith]

Doesn't relate at all. The assets that are important in HMFC's case are UBIG's shares in HMFC.

The Scotsman journo who hosted the webchat yesterday promised to ask BDO about them. Still waiting.....

Hi CWG Thanks for reply but as Burgh Hibby as posted I think The Scotsman lifted it from the Lithuania Tribune link and omitted the bit below which perhaps im reading it wrong but doesnt that imply UBIG investment is frozen as well .

The court in Kaunas seized assets controlled by Russian-born businessman Vladimir Romanov and his UBIG investment vehicle, which controls ‘Hearts’.
In a statement, the court said it had forbidden any transfer of the assets, after receiving a claim in a civil lawsuit brought by several companies.

[SmashinGlass]

Romanov's future to be decided on Thursday:

http://www.lithuaniatribune.com/66524/moscow-to-rule-on-fugitive-banker-romanov-on-thursday-201466524/

He seems to have an ever increasing list of health complaints A stroke last year and now hospitalised with serious heart problems. Would appear that his time is coming, one way or another.... :rolleyes:

[EdinMike]

Also a link further down re the frozen assets

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

Heh haw!

Remember and check the article date, dunno how much has changed in the last year though...

[jacomo]

He seems to have an ever increasing list of health complaints A stroke last year and now hospitalised with serious heart problems. Would appear that his time is coming, one way or another.... :rolleyes:

That's harsh, because he seemed to be back to full health.

Didn't that journo who bumped into him in a restaurant find him in good spirits, talking about how he was enjoying life in Moscow and making good money? And little did he know another health scare was just around the corner...

[steviehibsleith]

Remember and check the article date, dunno how much has changed in the last year though...

I did but just assumed as the Lithuanians were still trying to get Romanov in a court nothing had changed .

[Ozyhibby]

Reading that article leaves me less convinced the frozen shares are a problem.
I was under the impression they were frozen by the Lith Financial crimes people. If, as that article states, they were frozen at the request of creditors then it will be the same creditors that just approved the share transfer. If they are happy then I imagine the court will be too.
We will have to wait and see.

[Waxy]

Even if they get to keep Tynecrumble, they're still a wee league team with humungous problems.

[jdships]

I was introduced to a man this morning who runs a small " service " business .( four employees )
He was owed a four figure sum of money for repairs carried out at Tynecastle and lost out , receiving siltch
He was lucky (his words) that he managed to keep things going without paying off staff but feels very very bitter reading the quotes from Hearts supporters of how Hearts will be " debt free and go on to be a massive club again "
Can sympathise with him ( he is not a football man as he played rugby and follows his old club ) and wonder how many more small businesses were landed in the same position ?

:rolleyes:

[CropleyWasGod]

Hi CWG Thanks for reply but as Burgh Hibby as posted I think The Scotsman lifted it from the Lithuania Tribune link and omitted the bit below which perhaps im reading it wrong but doesnt that imply UBIG investment is frozen as well .

The court in Kaunas seized assets controlled by Russian-born businessman Vladimir Romanov and his UBIG investment vehicle, which controls ‘Hearts’.
In a statement, the court said it had forbidden any transfer of the assets, after receiving a claim in a civil lawsuit brought by several companies.

Think you might be getting your Aprils mixed up. The Scotsman article was today, the Tribune 2013.

[greenginger]

I was introduced to a man this morning who runs a small " service " business .( four employees )
He was owed a four figure sum of money for repairs carried out at Tynecastle and lost out , receiving siltch
He was lucky (his words) that he managed to keep things going without paying off staff but feels very very bitter reading the quotes from Hearts supporters of how Hearts will be " debt free and go on to be a massive club again "
Can sympathise with him ( he is not a football man as he played rugby and follows his old club ) and wonder how many more small businesses were landed in the same position ?

:rolleyes:

He should introduce himself to our sports media imbeciles who keep referring to the Yam fans as the victims in Heart's financial shambles instead of the accomplices .

[jgl07]

Think you might be getting your Aprils mixed up. The Scotsman article was today, the Tribune 2013.
Yes they normally catch up after six months!

[Dashing Bob S]

He should introduce himself to our sports media imbeciles who keep referring to the Yam fans as the victims in Heart's financial shambles instead of the accomplices .

Hearts are the archetypal overweight school bully, callous and full of unwarranted self-regard, so quick to turn into a sniveling, self-pitying cowardly victim when held to account for their actions. It's about time our pathetic media started holding this easily-bruised fat boy culpable, rather than indulging him by spilling fake tears and cheerleading his misery.

[jacomo]

Hearts are the archetypal overweight school bully, callous and full of unwarranted self-regard, so quick to turn into a sniveling, self-pitying cowardly victim when held to account for their actions. It's about time our pathetic media started holding this easily-bruised fat boy culpable, rather than indulging him by spilling fake tears and cheerleading his misery.

Seeing as they profess to hate green so much, they should be made to rip up that big green thingy in the middle of their stadium. Ideally replaced with a car park. For flats.

[gorgie greens]

Can we stick to topic lads,don't care if its a multi quote or not if it annoys you then don't read it,
Any news of the padlocks comming out yet at ***********

[Springbank]

We need a banner for the next derby
I'll help pay but can anyone make one?
I'd like it to say :

Hearts Fans:
Not victims,
Accomplices

[Dashing Bob S]

Can we stick to topic lads,don't care if its a multi quote or not if it annoys you then don't read it,
Any news of the padlocks comming out yet at ***********

Think they are still in shock. The histrionics and bull**** and wild conjecture reported as news will probably start up again tomorrow or Friday morning. Meantime that ol' clock keeps on a-tickin.

[ano hibby]

Of course if Lithuanian journalism is as technically accurate as our MSM then we can disregard that stuff as well...

[southsider]

I was introduced to a man this morning who runs a small " service " business .( four employees )
He was owed a four figure sum of money for repairs carried out at Tynecastle and lost out , receiving siltch
He was lucky (his words) that he managed to keep things going without paying off staff but feels very very bitter reading the quotes from Hearts supporters of how Hearts will be " debt free and go on to be a massive club again "
Can sympathise with him ( he is not a football man as he played rugby and follows his old club ) and wonder how many more small businesses were landed in the same position ?

:rolleyes:
If we can gain access he should rip up all the work done and take his materials back. Construction materials belong to the contractor until the invoice is paid in full, as stated on my invoice. I have done this in the past with, on one occasion, the help of the police who made sure no violence was shown to our men.

[greenginger]

If we can gain access he should rip up all the work done and take his materials back. Construction materials belong to the contractor until the invoice is paid in full, as stated on my invoice. I have done this in the past with, on one occasion, the help of the police who made sure no violence was shown to our men.


I think he is too late. The Yams have settled all accounts with the CVA vote fiddled by BDO.

I hope he is happy with the settlement of Zero pence in the pound.

[Brunswickbill]

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.


You obviously missed last week's TPI love-in:wink:

[CropleyWasGod]

Of course if Lithuanian journalism is as technically accurate as our MSM then we can disregard that stuff as well...

The original Bloomberg article had a direct quote, which is often missing in our own media.

“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.

[Kato]

Of course if Lithuanian journalism is as technically accurate as our MSM then we can disregard that stuff as well...

It might just be that the Lithuanian press have their financial journalists on the story whereas the MSM have their sports reporters doing the job.

Big difference in perception, experience and, more than likely, basic intelligence.

[Kato]

I think he is too late. The Yams have settled all accounts with the CVA vote fiddled by BDO.

I hope he is happy with the settlement of Zero pence in the pound.

It wouldn't surprise me if they had the gall to give -10p in the pound, meaning the creditors would be due to pay them, just for the pleasure of not being paid.

[Geo_1875]

It wouldn't surprise me if they had the gall to give -10p in the pound, meaning the creditors would be due to pay them, just for the pleasure of not being paid.

Or -15

[jakeshibs]

I was introduced to a man this morning who runs a small " service " business .( four employees )
He was owed a four figure sum of money for repairs carried out at Tynecastle and lost out , receiving siltch
He was lucky (his words) that he managed to keep things going without paying off staff but feels very very bitter reading the quotes from Hearts supporters of how Hearts will be " debt free and go on to be a massive club again "
Can sympathise with him ( he is not a football man as he played rugby and follows his old club ) and wonder how many more small businesses were landed in the same position ?

:rolleyes:

this is exactly the stories the media should be covering!!!

[brog]

Mikey, think the papers have it wrong slightly. I am sure they were advanced 150k right at the start of the admin process, then there will be 535k ring fenced for football debts which is about the 690k mark.

Yams have been advanced a total of £823,895.33 from SPFL this season. If they don't complete their fixtures they have to pay it all back! Given we know they already have £690,000 of the final payment that leaves a balance provided earlier of £135k, not far off your £150k figure above. I believe the football debt of £535k is a totally separate matter, that is due to be paid by F of H (or its nominee).
I'm not sure what happens if Yams hit the big L. From memory I think newco settled the football debt for Rangers & I think this would happen with anyone registering new Yams ( or Shams! ) Can anyone with a better memory re The Rangers saga please advise?

[greenginger]

this is exactly the stories the media should be covering!!!


We should go around the streets and offer a few of the Jakeys a few quid to swop their " Hungry and Homeless " signs for a " I am a Hearts Creditor " sign.

I bet the EEN would never run the story.

[CropleyWasGod]

Yams have been advanced a total of £823,895.33 from SPFL this season. If they don't complete their fixtures they have to pay it all back! Given we know they already have £690,000 of the final payment that leaves a balance provided earlier of £135k, not far off your £150k figure above. I believe the football debt of £535k is a totally separate matter, that is due to be paid by F of H (or its nominee).
I'm not sure what happens if Yams hit the big L. From memory I think newco settled the football debt for Rangers & I think this would happen with anyone registering new Yams ( or Shams! ) Can anyone with a better memory re The Rangers saga please advise?

TRFC's fitba debt had to be settled as a condition of their new owners' application to join the SFL/SFA. It was central to the 5-way agreement.

I'm in two minds about how HMFC's football debt will be settled, too. While it makes sense to deduct it from the SPFL money, I'm leaning towards your own thoughts. It's debt that is due to bodies other than the SPFL, and I'm not sure the SPFL have the power to be a collection agent for them.

[Mikey]

TRFC's fitba debt had to be settled as a condition of their new owners' application to join the SFL/SFA. It was central to the 5-way agreement.

I'm in two minds about how HMFC's football debt will be settled, too. While it makes sense to deduct it from the SPFL money, I'm leaning towards your own thoughts. It's debt that is due to bodies other than the SPFL, and I'm not sure the SPFL have the power to be a collection agent for them.

That would make sense, but the SPFL could make sure the debt is paid as a condition of starting up again as The Hearts 2014.

[greenginger]

Yams have been advanced a total of £823,895.33 from SPFL this season. If they don't complete their fixtures they have to pay it all back! Given we know they already have £690,000 of the final payment that leaves a balance provided earlier of £135k, not far off your £150k figure above. I believe the football debt of £535k is a totally separate matter, that is due to be paid by F of H (or its nominee).
I'm not sure what happens if Yams hit the big L. From memory I think newco settled the football debt for Rangers & I think this would happen with anyone registering new Yams ( or Shams! ) Can anyone with a better memory re The Rangers saga please advise?


Yep, anyone wanting to start a NewYam would need to acquire the SFA and league license and part of that agreement will be settle the old Yam debts.

That's what took it to the wire with The Rangers last summer, but they agreed at the last minute.

[CropleyWasGod]

That would make sense, but the SPFL could make sure the debt is paid as a condition of starting up again as The Hearts 2014.

Think that would be another 5-way agreement -type thing. The SFA would probably make the stipulation.

[brog]

TRFC's fitba debt had to be settled as a condition of their new owners' application to join the SFL/SFA. It was central to the 5-way agreement.

I'm in two minds about how HMFC's football debt will be settled, too. While it makes sense to deduct it from the SPFL money, I'm leaning towards your own thoughts. It's debt that is due to bodies other than the SPFL, and I'm not sure the SPFL have the power to be a collection agent for them.

Thanks, that makes sense. It's a logical extension of the authority the SPFL has to ensure football debt is repaid ( despite HMRC protests! ) I think you're also correct re collecting the debt, IIRC there were well over 100 individual football creditors, I don't see SPFL getting involved there.

[21.05.2016]

I was introduced to a man this morning who runs a small " service " business .( four employees )
He was owed a four figure sum of money for repairs carried out at Tynecastle and lost out , receiving siltch
He was lucky (his words) that he managed to keep things going without paying off staff but feels very very bitter reading the quotes from Hearts supporters of how Hearts will be " debt free and go on to be a massive club again "
Can sympathise with him ( he is not a football man as he played rugby and follows his old club ) and wonder how many more small businesses were landed in the same position ?

:rolleyes:

He certainly is not the only one that mob have conned. Those cheating, immoral, thieving *******s don't care how many small businesses, charities etc they have mugged off and stolen from, it let them play "we are the big team".

Horrible lot. Their smug, arrogant fans turn my stomach.

[Moulin Yarns]

We should go around the streets and offer a few of the Jakeys a few quid to swop their " Hungry and Homeless " signs for a " I am a Hearts Creditor " sign.

I bet the EEN would never run the story.

that sounds like the sort of stuff Mark Thomas would get involved with. Email him.

[Sanger]

It might just be that the Lithuanian press have their financial journalists on the story whereas the MSM have their sports reporters doing the job.

Big difference in perception, experience and, more than likely, basic intelligence.

Samething happened with the Gers.

On UKIO I started sending Bloomberg articles to the Scottish press in the early autumn of 2012 pointing out the implications for Hearts. They were totally ignored.

[Sanger]

Samething happened with the Gers.

On UKIO I started sending Bloomberg articles to the Scottish press in the early autumn of 2012 pointing out the implications for Hearts. They were totally ignored.


Also on my Twitter account at the time #LeftBanker

[Mellow Hibee]

He certainly is not the only one that mob have conned. Those cheating, immoral, thieving *******s don't care how many small businesses, charities etc they have mugged off and stolen from, it let them play "we are the big team".

Horrible lot. Their smug, arrogant fans turn my stomach.

When this all kicked off there very quickly appeared a thread on kickback saying that they should all contribute to a pot that would be used to pay back small creditors.

The thread recieved great attention and all were in agreement that this was exactly the type of action that distinguished them from Rangers fans.

Wonder how that's comming along?

[Geo_1875]

TRFC's fitba debt had to be settled as a condition of their new owners' application to join the SFL/SFA. It was central to the 5-way agreement.

I'm in two minds about how HMFC's football debt will be settled, too. While it makes sense to deduct it from the SPFL money, I'm leaning towards your own thoughts. It's debt that is due to bodies other than the SPFL, and I'm not sure the SPFL have the power to be a collection agent for them.

It's a catch 22. Should the SPFL, one of Scottish Footballs governing bodies, issue an advance payment of monies that hertz would not be due should they fail to complete the season by entering liquidation? Or should they withhold that money and cause hertz to enter liquidation at which point they fail to be entitled to said money?

Anybody.... Help..... my head hurts.

[Jack]

He certainly is not the only one that mob have conned. Those cheating, immoral, thieving *******s don't care how many small businesses, charities etc they have mugged off and stolen from, it let them play "we are the big team".

Horrible lot. Their smug, arrogant fans turn my stomach.

While I understand the common disgust with the stiffing all and sundry, large and small businesses and organisations for hundreds upto millions that's what happens all too often.

A friend of mine was a professional commercial photographer, and a damned good one too, flying all over the world, reckoned he lost on average £20k a year folk doing the same as the yams.

Its the system that's wrong ... IMO.

[down-the-slope]

It doesn't annoy me, infact I prefer that to individually replying to half a dozen posts. Isn't that the purpose of the multiquote feature?

:agree: for those who have a life outside of here - sometimes you are playing catch up and have replies / contributions to several posts....

Why is it annoying / an issue ?

[SuperAllyMcleod]

It's a catch 22. Should the SPFL, one of Scottish Footballs governing bodies, issue an advance payment of monies that hertz would not be due should they fail to complete the season by entering liquidation? Or should they withhold that money and cause hertz to enter liquidation at which point they fail to be entitled to said money?

Anybody.... Help..... my head hurts.

I'm sure that I read somewhere today that ALL of the SPFL teams have received £690K this season so far. Therefore, there is no way that the SPFL have retained the football debt.

Like others have said, this debt will be paid by whoever picks up the Yams when they come out of admin.

[gorgie greens]

The original Bloomberg article had a direct quote, which is often missing in our own media.

“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.

So how does this affect the CVA ,if they are unable to get the shares is that not the end of the road for them

[Elephant Stone]

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.

Finally. :hilarious

[CB_NO3]

The original Bloomberg article had a direct quote, which is often missing in our own media.

“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.

So what would the process be if the Ukio administrator accepts the CVA? Would it then be up to BDO to apply to the Lithuanian courts to 'unfreeze' the shares?

[greenginger]

So what would the process be if the Ukio administrator accepts the CVA? Would it then be up to BDO to apply to the Lithuanian courts to 'unfreeze' the shares?


I think it would be up to the UBIG administrator to petition the Court saying that the UBIG creditors have accepted a sum for these shares , please release them and let us conclude the deal.

How easy that would be is anybody's guess.

Of course they would only want the shares if Ukio approve their bit of the deal.

[CropleyWasGod]

So what would the process be if the Ukio administrator accepts the CVA? Would it then be up to BDO to apply to the Lithuanian courts to 'unfreeze' the shares?

As GG says.

But remember that it's not the administrator's call. It's up to the creditors.

[GreenLake]

So what would the process be if the Ukio administrator accepts the CVA? Would it then be up to BDO to apply to the Lithuanian courts to 'unfreeze' the shares?

I think even the Yams have talked about the share transfer needing to be "ratified" by the courts. Quite how they see that as any different from "unfrozen" I am not sure. Definitions seem to have a lot of leeway among different people and I myself used to think "ratification" was a term referring to the filling of Tynecastle on match days.

[CropleyWasGod]

So how does this affect the CVA ,if they are unable to get the shares is that not the end of the road for them

Yes.

BJ has always said that the hardest part of his job will be to get the UBIG shares. Nobody in HM Press has asked him "why, Bryan? Why is that?"

[Springbank]

I've just emailedto
Gintare Putnikiene to ask if the shares are still frozen (in the court's view) and to show them the news of Pat Munro's £15m bid.
Interesting that the Evening News have withdrawn the hyperlink about that story.
However, I had a paper copy so a wee pic was all it took to let Lithuania know about Pat's millions, compared to the ramshackle amateur FoH 2.5m

No brainer

[jacomo]

:agree: for those who have a life outside of here - sometimes you are playing catch up and have replies / contributions to several posts....

Why is it annoying / an issue ?

Indeed. Sometimes you are playing catch up. But every single time? That's too much.

Bit like Sydney with his f***** letters... We were all happy to laugh along with the simpleton for a while, but it becomes boring.

[greenginger]

Amazing what former Yam directors get up to.


http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dukio%2Bbankas%2B15min%26client%3Dfire fox-a%26hs%3DTAK%26rls%3Dorg.mozilla:en-US:official%26channel%3Dsb&rurl=translate.google.com&sl=lt&u=http://www.15min.lt/naujiena/aktualu/lietuva/darbo-partija-okupuoja-zemes-uki-silta-posta-gavo-ir-v-vonzutaites-vyras-s-fedotovas-56-418568&usg=ALkJrhhcnlyu6A4Y5eo0yrr6LRxSnSVM4Q

Fedatovas has been working for the Lith. government. :confused:

[jacomo]

Yes.

BJ has always said that the hardest part of his job will be to get the UBIG shares. Nobody in HM Press has asked him "why, Bryan? Why is that?"

It just hasn't come up? :wink:

[kdhibees1]

:agree: for those who have a life outside of here - sometimes you are playing catch up and have replies / contributions to several posts....

Why is it annoying / an issue ?
Something to moan about, other than at the team??:cb

[CropleyWasGod]

It just hasn't come up? :wink:

:bitchy:

[EastCalderHibby]

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

www.youtube.com/watch?v=Z_JOGmXpe5I

:top marks that was quallity :flag::flag::flag:

[EastCalderHibby]

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 .

they even tried to sign 12403 few weeks ago

[CropleyWasGod]

I think even the Yams have talked about the share transfer needing to be "ratified" by the courts. Quite how they see that as any different from "unfrozen" I am not sure. Definitions seem to have a lot of leeway among different people and I myself used to think "ratification" was a term referring to the filling of Tynecastle on match days.

:greengrin

[EastCalderHibby]

He seems to have an ever increasing list of health complaints A stroke last year and now hospitalised with serious heart problems. Would appear that his time is coming, one way or another.... :rolleyes:

it is true thou he does have a major hearts problem :greengrin

[poolman]

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 !

Just stop :rolleyes:

[Ronniekirk]

they even tried to sign 12403 few weeks ago

:top marks:greengrin

[Dashing Bob S]

Yes.

BJ has always said that the hardest part of his job will be to get the UBIG shares. Nobody in HM Press has asked him "why, Bryan? Why is that?"

I don't believe its the incompetence of the mainstream media, though that has some effect, or even the low staffing levels. Print and television news media increasingly rely on sensation, which means infantilising people and drip-feeding them nonsense rather than any hard analysis of the situation. Sadly no newspaper will say: 'Hearts are liquidated, UKIOS will be stalled until the run out of cash, as the creditors know they will get more back from an asset sale, and even if this wasn't the case they could never obtain the UBIG shares from Kanuas court' as the story would be effectively over for them. They know the sentimentality of football fans, so far easier to manufacture this utter nonsense about a plucky Scottish club battling for survival against all odds.

Jackson and BDO are obliged to go through the process as professionally as they can, but I'm betting if you had a quiet drink with him a few years from now he'd tell you that to be successful they would have needed a massive game-changer, like the court action being suddenly dropped, or the main creditors not investigating the potential value of the PSB as an asset, or the Lithuanian admins putting the importance of Hearts above all other parts of the Romanov empire. Nothing like that has happened so far. BDO have dutifully stayed in the game (and they are being well paid to do so) but they've never had a winning hand.

[Sergey]

I don't believe its the incompetence of the mainstream media, though that has some effect, or even the low staffing levels. Print and television news media increasingly rely on sensation, which means infantilising people and drip-feeding them nonsense rather than any hard analysis of the situation. Sadly no newspaper will say: 'Hearts are liquidated, UKIOS will be stalled until the run out of cash, as the creditors know they will get more back from an asset sale, and even if this wasn't the case they could never obtain the UBIG shares from Kanuas court' as the story would be effectively over for them. They know the sentimentality of football fans, so far easier to manufacture this utter nonsense about a plucky Scottish club battling for survival against all odds.

Jackson and BDO are obliged to go through the process as professionally as they can, but I'm betting if you had a quiet drink with him a few years from now he'd tell you that to be successful they would have needed a massive game-changer, like the court action being suddenly dropped, or the main creditors not investigating the potential value of the PSB as an asset, or the Lithuanian admins putting the importance of Hearts above all other parts of the Romanov empire. Nothing like that has happened so far. BDO have dutifully stayed in the game (and they are being well paid to do so) but they've never had a winning hand.

Time for a large gin for your Jambo neighbour to cheer himself up, Bob.

The above is 100% spot-on.

BTW - No creditors meeting agreed for the Ukio folks. The date previously quoted (by Desantosh) isn't correct.

[CropleyWasGod]

I don't believe its the incompetence of the mainstream media, though that has some effect, or even the low staffing levels. Print and television news media increasingly rely on sensation, which means infantilising people and drip-feeding them nonsense rather than any hard analysis of the situation. Sadly no newspaper will say: 'Hearts are liquidated, UKIOS will be stalled until the run out of cash, as the creditors know they will get more back from an asset sale, and even if this wasn't the case they could never obtain the UBIG shares from Kanuas court' as the story would be effectively over for them. They know the sentimentality of football fans, so far easier to manufacture this utter nonsense about a plucky Scottish club battling for survival against all odds.

Jackson and BDO are obliged to go through the process as professionally as they can, but I'm betting if you had a quiet drink with him a few years from now he'd tell you that to be successful they would have needed a massive game-changer, like the court action being suddenly dropped, or the main creditors not investigating the potential value of the PSB as an asset, or the Lithuanian admins putting the importance of Hearts above all other parts of the Romanov empire. Nothing like that has happened so far. BDO have dutifully stayed in the game (and they are being well paid to do so) but they've never had a winning hand.

I wish I could agree with you about the media. It's affecting my previously-held trust in the media in general.

I do agree with you on the job BDO have done thus far. I know that there are misgivings on here about their integrity, but I keep thinking about BJ and TB saying how bad things were when they first took the job on. I honestly didn't think they would get this far (my earliest posts expected this to be a short admin followed by liquidation). That they have says a lot about their own actions, but also the (arguably) poor performance of their counterparts. That quiet drink would be very illuminating, I'm sure.

[Ronniekirk]

Time for a large gin for your Jambo neighbour to cheer himself up, Bob.

The above is 100% spot-on.

BTW - No creditors meeting agreed for the Ukio folks. The date previously quoted (by Desantosh) isn't correct.
In Sergey We Trust :thumbsup:

[Cabbage East]

Tip for those pished off with the pointless multiquotes followed by "I agree", "yes", etc. Add the guy to your ignore list.

[hibeerealist]

Time for a large gin for your Jambo neighbour to cheer himself up, Bob.

The above is 100% spot-on.

BTW - No creditors meeting agreed for the Ukio folks. The date previously quoted (by Desantosh) isn't correct.

Nice words at this time f night Sergey, I can now sleep with a pleasing calm in the knowledge that there is virtually no chance the can wriggle out o this.

[Sergey]

In Sergey We Trust :thumbsup:


Nice words at this time f night Sergey, I can now sleep with a pleasing calm in the knowledge that there is virtually no chance the can wriggle out o this.

I am scratching around for information - but no information is good information.

As far as I know - there is no meeting planned on the 22nd April.

I have no knowledge where that date emanated from. It's not from Lithuania.

[clerriehibs]

I wish I could agree with you about the media. It's affecting my previously-held trust in the media in general.

I do agree with you on the job BDO have done thus far. I know that there are misgivings on here about their integrity, but I keep thinking about BJ and TB saying how bad things were when they first took the job on. I honestly didn't think they would get this far (my earliest posts expected this to be a short admin followed by liquidation). That they have says a lot about their own actions, but also the (arguably) poor performance of their counterparts. That quiet drink would be very illuminating, I'm sure.


Their counterparts being the administrators of UBIG and UKIO - or someone else?

[Ronniekirk]

I am scratching around for information - but no information is good information.

As far as I know - there is no meeting planned on the 22nd April.

I have no knowledge where that date emanated from. It's not from Lithuania.

And the budge beak must be back on her perch in her cage as not a peep for ages since she threatened to walk away if deal wasn't done .We all knew she wouldn't but trying to put Liths under pressure like that could be a red rag to a bull .having showed her hand and had her bluff called what realistically is her next move and why isn't she now e mailing that magnificent loyal mutant support to update them and tell them all is well,just bear with me till we work out best timing to tell you it's the Big L and Sergey was right all along .

[Weststandwanab]

Tip for those pished off with the pointless multiquotes followed by "I agree", "yes", etc. Add the guy to your ignore list.What happens when you do as you suggest ?


In Sergey We Trust :thumbsup: I agree.


I am scratching around for information - but no information is good information.

As far as I know - there is no meeting planned on the 22nd April.

I have no knowledge where that date emanated from. It's not from Lithuania. Yes.

[monktonharp]

Lithuanian Government- Lithuanian People -Lithuanian Courts........inextricably linked. I have thought about this for a long time now, and those facts are the reasons that this saga has a long long way to go,when it comes to releasing any assets/shares involving both insolvent banking corporations. bad news for gorgie,and they wont accept it until the big L is confirmed. they may struggle into next season but not for long

[Dashing Bob S]

If I know most Hearts fans, when the big L finally comes, and they realise they've been played for suckers, they'll have a bloody good laugh along with the rest of us! Sometimes, when a custard pie gets launched in your face, you have to just grin and give it the big thumbs up!

I'm sure they'll see the funny side!

[#FromTheCapital]

What happens when you do as you suggest ?

Sorry can't hear you

I agree.

Major shock

Yes

Yes, oh wait no.

Aye

[PapillonVert]

Vlad Released

According to Daily Record:

http://www.dailyrecord.co.uk/sport/football/football-news/hearts-watching-interest-confusion-surrounds-3391131

Friends in dodgy places?

[GordonHFC]

****. Just realised its 'Foundation of Hearts' I set my direct debit up for the 'British Heart Foundation' sorry, wrong charity case.

[CropleyWasGod]

Their counterparts being the administrators of UBIG and UKIO - or someone else?

Yeah sorry

[soul_driver]

****. Just realised its 'Foundation of Hearts' I set my direct debit up for the 'British Heart Foundation' sorry, wrong charity case.

Quality. Hope you dont mind but I'm stealing that.

[hunter1875]

Vlad Released

According to Daily Record:

http://www.dailyrecord.co.uk/sport/football/football-news/hearts-watching-interest-confusion-surrounds-3391131

Friends in dodgy places?

I'm amazed they found 1 quote condemning him in amongst all the 1s praising him


Sent from my iPhone using Tapatalk

[Coco Bryce]

Sorry, this will question will obviously have been asked and answered somewhere in this massive thread but if Hearts go into liquidation, who is responsible for payment of BDOs fees?

[Waxy]

Sorry, this will question will obviously have been asked and answered somewhere in this massive thread but if Hearts go into liquidation, who is responsible for payment of BDOs fees?

I assumed it was Hearts and BDO take their fees from the money taken in through the season.could be wrong.So in effect They pay it to themselves. So yamlike.

[greenginger]

I assumed it was Hearts and BDO take their fees from the money taken in through the season.could be wrong.So in effect They pay it to themselves. So yamlike.


If it comes to liquidation BDO step aside and a liquidator is appointed ( Duff and Phelps would be ideal :wink: )

The liquidator would pay BDO from the proceeds of the liquidation. I think they would rank next in line after the liquidator reimbursed themselves :cb.

[HUTCHYHIBBY]

Sorry, this will question will obviously have been asked and answered somewhere in this massive thread but if Hearts go into liquidation, who is responsible for payment of BDOs fees?

I believe CWG is the go to man for this question.

[CropleyWasGod]

If it comes to liquidation BDO step aside and a liquidator is appointed ( Duff and Phelps would be ideal :wink: )

The liquidator would pay BDO from the proceeds of the liquidation. I think they would rank next in line after the liquidator reimbursed themselves :cb.

Without digging, I'm pretty sure that BDO themselves have been nominated as liquidator.

[CropleyWasGod]

I believe CWG is the go to man for this question.

One of these days, I shan't bite.

For now, Fenlon.... :greengrin

[Craig_in_Prague]

It feels like they're so close, yet so far from concluding this CVA.

Definitely the best soap around.

One or two other articles outwith scotland, has also said no apparent date on the UKIO next creditors meeting. You have to think that if there's any more delays and that's pushed into May, the big L must be likely.

If it were any other club in the world, I'd fancy the big L. But as it's the luckiest, part of me thinks they'll scrape through this & forever slag hibs.net for being sad hobos (despite it being the home of the truth all along). Will they realize how close they were to their club going down the swanny? probably not.

[greenginger]

Everything does seem to have gone eerily quiet.

No tweets, claims, trumpets or seethings for a while. Mass celebrations or mass suicides down Gorgie way ??????

[BH Hibs]

I am scratching around for information - but no information is good information.

As far as I know - there is no meeting planned on the 22nd April.

I have no knowledge where that date emanated from. It's not from Lithuania.

And I got shot down when I asked if that date was fact or speculation :greengrin

[Onion]

Everything does seem to have gone eerily quiet.

No tweets, claims, trumpets or seethings for a while. Mass celebrations or mass suicides down Gorgie way ??????

Just the sound of ... tick, tock.

[Geo_1875]

Everything does seem to have gone eerily quiet.

No tweets, claims, trumpets or seethings for a while. Mass celebrations or mass suicides down Gorgie way ??????

They will be delaying any negative announcement as they won't want to give hibs.net any credit for being right. They'll probably call liquidation a tactical restructuring.

[Kato]

Everything does seem to have gone eerily quiet.

No tweets, claims, trumpets or seethings for a while. Mass celebrations or mass suicides down Gorgie way ??????

Sorry disagree, there are still plenty trumpets.

[southsider]

It feels like they're so close, yet so far from concluding this CVA.

Definitely the best soap around.

One or two other articles outwith scotland, has also said no apparent date on the UKIO next creditors meeting. You have to think that if there's any more delays and that's pushed into May, the big L must be likely.

If it were any other club in the world, I'd fancy the big L. But as it's the luckiest, part of me thinks they'll scrape through this & forever slag hibs.net for being sad hobos (despite it being the home of the truth all along). Will they realize how close they were to their club going down the swanny? probably not.
Make a great movie....Russian hats....Beatles records from backs of cabs.....submarines....dodgy deals Pretty Lith agents offering sex for shares....cash in black sacks.....Sergey as spy in the camp and GWG as The Liguidator.

[jacomo]

Just the sound of ... tick, tock.

Love the old tick, tock.

It was a great shame when the Yambos informed us that is was just a Hibby fantasy, and there was no chance whatsoever of Hearts going into admin as they owed it to themselves.

:bye:

[Keith_M]

"....he would be opposing Mr Romanov’s extradition to Romania"


More quality journalism, as brought to you by The Scotsman (http://www.scotsman.com/news/scotland/top-stories/romanov-under-armed-guard-in-moscow-hospital-1-3371817)

[Sergey]

And I got shot down when I asked if that date was fact or speculation :greengrin

According to Kickback (admittedly, not the most reliable of sources) there's seemingly a comment in today's Sun that mentions that the date of the meeting is being announced today.

I'm not sure if this is the case, but I'm not aware (yet) of any confirmed date.

[Geo_1875]

According to Kickback (admittedly, not the most reliable of sources) there's seemingly a comment in today's Sun that mentions that the date of the meeting is being announced today.

I'm not sure if this is the case, but I'm not aware (yet) of any confirmed date.

Between Kickback and The Sun, I doubt if they'd be able to tell you what day it is today.

[Keith_M]

According to Kickback (admittedly, not the most reliable of sources) there's seemingly a comment in today's Sun that mentions that the date of the meeting is being announced today.

I'm not sure if this is the case, but I'm not aware (yet) of any confirmed date.


The only place I've seen dates mentioned (or likely to be's) is in The Scotsman/Evening news. I've written some comments on said articles requesting that the 'journalist' tell us where he got that information from. My comments have, in every instance, been removed.

[Dashing Bob S]

"....he would be opposing Mr Romanov’s extradition to Romania"


More quality journalism, as brought to you by The Scotsman (http://www.scotsman.com/news/scotland/top-stories/romanov-under-armed-guard-in-moscow-hospital-1-3371817)

Not worth reading that moribund joke of a paper - the EEN 's heavily subsidized morning supplement.

[Dashing Bob S]

According to Kickback (admittedly, not the most reliable of sources) there's seemingly a comment in today's Sun that mentions that the date of the meeting is being announced today.

I'm not sure if this is the case, but I'm not aware (yet) of any confirmed date.

Be great if they stopped fannying about and categorically announced that the meeting is scheduled for August 8th and it can't be changed.

[Waxy]

Apparently there was a date for the last meeting. So when we're told the date for this, why should we believe it?

[greenginger]

http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dukio%2Bbankas%2B15min%26client%3Dfire fox-a%26hs%3DiKu%26rls%3Dorg.mozilla:en-US:official%26channel%3Dsb&rurl=translate.google.com&sl=lt&u=http://www.15min.lt/naujiena/aktualu/lietuva/zemes-ukio-ministerijos-teisininkai-aiskinsis-del-konkurso-kuri-laimejo-vitalijos-vonzutaites-vyras-56-418694&usg=ALkJrhgeIq5bFCVfrmgIZTGTa95l9Wol_Q

Shame, looks like Fedotovas is going to be emptied from his new venture before he gets started.

Looks like he was appointed to a government post by his own bidey-in burd !

Shocking, that sort of thing would never happen in Scotland. :greengrin

[Sanger]

The only place I've seen dates mentioned (or likely to be's) is in The Scotsman/Evening news. I've written some comments on said articles requesting that the 'journalist' tell us where he got that information from. My comments have, in every instance, been removed.


Telegraph had 18th which Bloomberg confirmed but now provisionally 22nd according to Bloomberg news hounds.

[leggeto]

Just thinking earlier does anyone think they will have to drop to being a part-time club to reduce costs

[Winston Ingram]

According to Kickback (admittedly, not the most reliable of sources) there's seemingly a comment in today's Sun that mentions that the date of the meeting is being announced today.

I'm not sure if this is the case, but I'm not aware (yet) of any confirmed date.

I've got general rule of thumb with any main stream media. Unless it's a quote from a named individual i always regard it as bollocks

[Dashing Bob S]

Just thinking earlier does anyone think they will have to drop to being a part-time club to reduce costs

They've always been a part-time football club. The have, however, been full-time in cheating, swindling, sex offending and self-pitying.

[Just Alf]

Just thinking earlier does anyone think they will have to drop to being a part-time club to reduce costs

now THAT would be funny! :aok:

[Ozyhibby]

Just thinking earlier does anyone think they will have to drop to being a part-time club to reduce costs

It's a definite possibility if it's a new club starting in league 2 playing at Livi or Dunfermline.

[Danderhall Hibs]

If the "main stream media" aren't telling us anything what are the non-main stream media telling us? And who are they?

[SuperAllyMcleod]

Just thinking earlier does anyone think they will have to drop to being a part-time club to reduce costs

That would be a terrible thing to happen to them - hopefully it does. :wink:

[Moulin Yarns]

Telegraph had 18th which Bloomberg confirmed but now provisionally 22nd according to Bloomberg news hounds.

I didn't realise the Telegraph took much interest in Scotland, let alone Scottish Football. Can you post a link to the Telegraph article so we can read the rest of it?

[McSwanky]

I didn't realise the Telegraph took much interest in Scotland, let alone Scottish Football. Can you post a link to the Telegraph article so we can read the rest of it?

Maybe this?

http://www.telegraph.co.uk/sport/football/scottish-football/10750981/New-delay-with-creditors-of-failed-Lithuainian-bank-over-buyout-threatens-Heart-of-Midlothians-survival-plans.html

"April 18 at the earliest" sounds like a guess to me.....

[Moulin Yarns]

Maybe this?

http://www.telegraph.co.uk/sport/football/scottish-football/10750981/New-delay-with-creditors-of-failed-Lithuainian-bank-over-buyout-threatens-Heart-of-Midlothians-survival-plans.html

"April 18 at the earliest" sounds like a guess to me.....

Hearts have enough money to keep running until the end of the month but further cavilling in Vilnius could see the 140-year-old Edinburgh club forced into liquidation.

I love the word "Cavilling" in relation to what is hapenning in Lithuania :greengrin

http://dictionary.reference.com/browse/cavilling

[CropleyWasGod]

Hearts have enough money to keep running until the end of the month but further cavilling in Vilnius could see the 140-year-old Edinburgh club forced into liquidation.

I love the word "Cavilling" in relation to what is hapenning in Lithuania :greengrin

http://dictionary.reference.com/browse/cavilling

Cavil... rhymes with Saville.... :greengrin

[Geo_1875]

Hearts have enough money to keep running until the end of the month but further cavilling in Vilnius could see the 140-year-old Edinburgh club forced into liquidation.

I love the word "Cavilling" in relation to what is hapenning in Lithuania :greengrin

http://dictionary.reference.com/browse/cavilling

I too like the word but I don't think it can be appropriately applied to the situation in Lithuania. I fear the Telegraph have subjected the administrators and creditors of Ukio to a dreadful calumny.

[JeMeSouviens]

Maybe this?

http://www.telegraph.co.uk/sport/football/scottish-football/10750981/New-delay-with-creditors-of-failed-Lithuainian-bank-over-buyout-threatens-Heart-of-Midlothians-survival-plans.html

"April 18 at the earliest" sounds like a guess to me.....

I think Ewing Grahame is a freelancer, his articles turn up in various papers. He was unusually good during the Hun saga. There's a small echo of that in this article:

"Should Hearts be forced into liquidation then they could emulate Rangers – who suffered the same fate in 2012 – by forming a new club, playing out of Tynecastle and beginning life in the bottom tier, but BDO remains optimistic that a deal can be done to maintain their unbroken lineage."

Not many hacks will admit that the old Huns' lineage broke. :wink:

[greenginger]

Hearts have enough money to keep running until the end of the month but further cavilling in Vilnius could see the 140-year-old Edinburgh club forced into liquidation.

I love the word "Cavilling" in relation to what is hapenning in Lithuania :greengrin

http://dictionary.reference.com/browse/cavilling


Yep, the laws ,rules and procedures of another country are a mere irritation when they get in the way of saving the Famous.

[Deansy]

"....he would be opposing Mr Romanov’s extradition to Romania"


More quality journalism, as brought to you by The Scotsman (http://www.scotsman.com/news/scotland/top-stories/romanov-under-armed-guard-in-moscow-hospital-1-3371817)

Even bigger surprise is comments STILL not welcome on Vlad's arrest/release - 'The Scotsman' can't run the risk of their system crashing due to all the messages of support ('Stay safe sweet Prince' being the forelock-tuggers most popular phrase) from the Muppets ??

[Sanger]

Maybe this?

http://www.telegraph.co.uk/sport/football/scottish-football/10750981/New-delay-with-creditors-of-failed-Lithuainian-bank-over-buyout-threatens-Heart-of-Midlothians-survival-plans.html

"April 18 at the earliest" sounds like a guess to me.....

Yes was on the Bloomberg news pages. That's what UKIO told Bloomberg as well before they realised it was Easter Friday now 22nd at the earliest. Ukio obviously doing some more due dilligence on value of Tynie and other bids.

[GreenLake]

****. Just realised its 'Foundation of Hearts' I set my direct debit up for the 'British Heart Foundation' sorry, wrong charity case.

If you repeat this very quickly it sounds like "Foundation O' Farts".

[Craig_in_Prague]

Did anyone ever get a good translation of Section 3.10.3. Heart of Midlothian Plc (Škotija) ??

12409

the google translate is quite poor; but you can see the Administrators (BDO) have said there's high chance of not being able to replace the stadium for residential purposes etc (hooliganism, factories, dangerous materials etc)

Note: One section translated as:
Realization of the stadium features. Completed property assessment report reveals that Tynecastle stadium the biggest market value should, if an authorization to develop it as a densely built-up residential area. But there is a high probability that a permit is not obtained, because the site is set advisory / safety zone for near Stocked Hazardous Materials
(alcohol and ethanol plant containers and plant medicine). According to the club's football administrator, the chances are high that investors would not want to buy a property for fear of the continuing bullying, institutions of political pressure (due to the collapse of the football club).

[jacomo]

I too like the word but I don't think it can be appropriately applied to the situation in Lithuania. I fear the Telegraph have subjected the administrators and creditors of Ukio to a dreadful calumny.

'Irritating or unnecessary'? The Yams will like that. How very dare these Lithuanians query the offer put in front of them, and refuse to stick to a timetable that suits the Famous!!

Pishy Breeks is no doubt composing a strongly worded letter - or incoherent verbal rant - intimating that the Liths had better shape up soon or face the consequences.

[Keith_M]

Yes was on the Bloomberg news pages. That's what UKIO told Bloomberg as well before they realised it was Easter Friday now 22nd at the earliest. Ukio obviously doing some more due dilligence on value of Tynie and other bids.


Cheers for the info (and the Telegraph link).

I still have serious doubts about the truth of any meeting dates, as it seems you really can't believe anybody in the Media. There are almost never any quotes from the actual 'sources' of the information (e.g. UKIO Admins). Even when there are, in the case of Adomonis, it never seems to turn out quite the way the media present it.

I have my doubts that the UKIO Admins would be stupid enough to arrange a meeting for next Friday, having forgotten it was a holiday. All sounds like a scam to me.

[CropleyWasGod]

Cheers for the info (and the Telegraph link).

I still have serious doubts about the truth of any meeting dates, as it seems you really can't believe anybody in the Media. There are almost never any quotes from the actual 'sources' of the information (e.g. UKIO Admins). Even when there are, in the case of Adomonis, it never seems to turn out quite the way the media present it.

I have my doubts that the UKIO Admins would be stupid enough to arrange a meeting for next Friday, having forgotten it was a holiday. All sounds like a scam to me.

The only meeting of creditors (as opposed to creditors' committee) that we know definitely took place was the very first one. That was advertised with due notice and agenda.

Whether the subsequent meetings have to be so advertised is not clear.

[Springbank]

If the "main stream media" aren't telling us anything what are the non-main stream media telling us? And who are they?

The non main stream media are people who - while not calling themselves journalists - ask the right questions to the right people, then post the reality of the situation on Internet sites like this one. Cwg has written a very good blog on the subject inviting the MSM to "just ask"

Why should we believe them? Legitimate question and the answer is they've been by and large spot on so far, stretching back 18 months now. Track record, in other words

[Sanger]

The only meeting of creditors (as opposed to creditors' committee) that we know definitely took place was the very first one. That was advertised with due notice and agenda.

Whether the subsequent meetings have to be so advertised is not clear.

The date of the meeting is dependent on UKIO having enough time to gather information about the real value of the ground and any issues with selling it and other bids. They do not believe according to the Bloomberg journalist that they could do this before the end of next week. Hence people saying 18th at earliest but that is Easter so no earlier than 22nd. That is a best case senario. Given the scale and comlexity of their task it looks to be going to happen much later. But as you say there will be announcement.

Any people claiming to know the date are dealing in speculation which is of course alien to the practices on this board.

[Craig_in_Prague]

The date of the meeting is dependent on UKIO having enough time to gather information about the real value of the ground and any issues with selling it and other bids. They do not believe according to the Bloomberg journalist that they could do this before the end of next week. Hence people saying 18th at earliest but that is Easter so no earlier than 22nd. That is a best case senario. Given the scale and comlexity of their task it looks to be going to happen much later. But as you say there will be announcement.

Any people claiming to know the date are dealing in speculation which is of course alien to the practices on this board.

Looking at the report I attached earlier, it looks to me like they've clued onto the fact they have been had, by BDO and the low valuations of the stadium / land in the past year or two. Now they are exploring that, and I don't expect any meeting any time soon.

[Juice-Terry]

Looking at the report I attached earlier, it looks to me like they've clued onto the fact they have been had, by BDO and the low valuations of the stadium / land in the past year or two. Now they are exploring that, and I don't expect any meeting any time soon.

:thumbsup::agree:

[leggeto]

Did anyone ever get a good translation of Section 3.10.3. Heart of Midlothian Plc (Škotija) ??

12409

the google translate is quite poor; but you can see the Administrators (BDO) have said there's high chance of not being able to replace the stadium for residential purposes etc (hooliganism, factories, dangerous materials etc)

Note: One section translated as:
Realization of the stadium features. Completed property assessment report reveals that Tynecastle stadium the biggest market value should, if an authorization to develop it as a densely built-up residential area. But there is a high probability that a permit is not obtained, because the site is set advisory / safety zone for near Stocked Hazardous Materials
(alcohol and ethanol plant containers and plant medicine). According to the club's football administrator, the chances are high that investors would not want to buy a property for fear of the continuing bullying, institutions of political pressure (due to the collapse of the football club).

have they ethanol containers not been decommissioned

[Coco Bryce]

Did anyone ever get a good translation of Section 3.10.3. Heart of Midlothian Plc (Škotija) ??

12409

the google translate is quite poor; but you can see the Administrators (BDO) have said there's high chance of not being able to replace the stadium for residential purposes etc (hooliganism, factories, dangerous materials etc)

Note: One section translated as:
Realization of the stadium features. Completed property assessment report reveals that Tynecastle stadium the biggest market value should, if an authorization to develop it as a densely built-up residential area. But there is a high probability that a permit is not obtained, because the site is set advisory / safety zone for near Stocked Hazardous Materials
(alcohol and ethanol plant containers and plant medicine). According to the club's football administrator, the chances are high that investors would not want to buy a property for fear of the continuing bullying, institutions of political pressure (due to the collapse of the football club).

Blatant lying there from BDO I see :agree:

It's just as well us pesky hobos are keeping them informed. :wink:

[Craig_in_Prague]

Blatant lying there from BDO I see :agree:

It's just as well us pesky hobos are keeping them informed. :wink:

the chances are high that investors would not want to buy a property for fear of the continuing bullying, institutions of political pressure.

LOL !!

What, more kicking of Russian hats ?

[jakeshibs]

I am now completely confused, what are we waiting on for them to get the big L?
I want them to turn the machine off so I can get on and celebrate. if the shares are frozen surely BDO know this and will not fit with their time lines so pull the plug and get on with it.....

[Craig_in_Prague]

I am now completely confused, what are we waiting on for them to get the big L?
I want them to turn the machine off so I can get on and celebrate. if the shares are frozen surely BDO know this and will not fit with their time lines so pull the plug and get on with it.....

For UKIO to vote no on the CVA - NO meeting scheduled
Courts not ratifying the release of shares - May not come to that stage.
Cash to run out - See 1st sentence

Patience. Good things come to those who wait.

[jakeshibs]

For UKIO to vote no on the CVA - NO meeting scheduled
Courts not ratifying the release of shares - May not come to that stage.
Cash to run out - See 1st sentence

Patience. Good things come to those who wait.

Thank you very much, in your opinion what time scale are we looking at?

[jacomo]

have they ethanol containers not been decommissioned

Would love to know the story BDO have tried to weave for the Lithuanians...

'Sorry guys, the situation re: Tynecastle looks bleak. If you sell it for redevelopment there will be riots and anyhow the whole site's liable to explode any minute. Basically it's worth nothing. But - you won't believe this - I've found someone who will pay £2.5m (less my deductions obviously). I'd take it and run if I were you."

[Craig_in_Prague]

Thank you very much, in your opinion what time scale are we looking at?

My personal opinion is worth little - but due to the cash running out at the PBS, I would imagine by end of April / early May, we'll be finally at the end of this movie.
If UKIO creditors do happen to meet post Easter (22nd according to some), then say no to the 2.5M offer, then immediately it's the big L.
If there's no meeting and no real sign of that happening soon, then one would imagine the cash will indeed run out and BDO will close the curtains.
FOH have taken UBIG shares as a 100% done deal, there might be a spanner in the works still on that one to come.

If we want to run a book on this, I'll take 19.05 - big L

;-)

[Brunswickbill]

Hibs net has provided a lot of good info on the administration processes so far, which as time goes by, has been shown to be correct. Can any of our experts shed some light on the liquidation process as it appears to be becoming more certain as time progresses - death by a thousand delays. Some questions that spring to my mind:-


1. The last game of the Yams' season is 10 May and let's assume that the 2014/15 season starts on 9 August. That's 13 weeks by my reckoning. It's already been pointed out on this thread that the Sevco liquidation was built into the CVA which expedited that liquidation process. Any liquidation of the Yams will be more complex. Can any experts outline what the process would be and what would be a likely time scale. In particular could it be completed, including agreeing to re-enter league2, within 13 weeks?


2. What would be the situation with the PBS? How long would it take to secure a sale? Would the liquidator be able to let the Yams play on in the stadium or would it be locked pending a sale?


3. What are the likely implications for SPFL for organising the leagues?


I presume that these questions will have been fully discussed at PBS and SPFL and one would have expected that our respected friends in the media and our western neighbours would have asked these and even more searching questions of the powers that be.


Any knowledgeable response would be appreciated.

[The Falcon]

Another Bawsack Classic Comment

Posted by Hagar the Horrible (3,444 posts)

"This is where there need to be somebody at the SFA and indeed the SPFL, for a start because we want to go into Fans ownership, them evry help should be given to those clubs to follow suit,nothing has been done to assist the fans. and more so when it comes to foreign owners that majority share holdings should not be held by companies not registered in the UK. this will protect this sort of thing and delays putting the club at further risk, also its should stop foreign sugar daddies giving unfair advantage by financially doping a club where success is bought rather than gained."

You really have to wonder.

Update..He gets a little criticism but mainly for the "foreign" part and retorts

"You are all missing the point I am clumsily trying to make , if Vlad has set up a company in the UK, we would find it easier to get out of the mess with admins in two countries with 2 sets of working ethics. I am also thankful to Vlad but do we or the game in this country need another one???? What I am saying is, there should be a ban on the companies that own clubs should not be registered abroad."

There you have the average Yam in a nutshell. Nothing whatsoever with overspending or thievery. A legal technicality.

[Bostonhibby]

Another Bawsack Classic Comment

Posted by Hagar the Horrible (3,444 posts)

"This is where there need to be somebody at the SFA and indeed the SPFL, for a start because we want to go into Fans ownership, them evry help should be given to those clubs to follow suit,nothing has been done to assist the fans. and more so when it comes to foreign owners that majority share holdings should not be held by companies not registered in the UK. this will protect this sort of thing and delays putting the club at further risk, also its should stop foreign sugar daddies giving unfair advantage by financially doping a club where success is bought rather than gained."

You really have to wonder.

:faf: Come on own up, has to be wun ov us wot dun it? Well done on lasting so long undercover over there

[leggeto]

Would love to know the story BDO have tried to weave for the Lithuanians...

'Sorry guys, the situation re: Tynecastle looks bleak. If you sell it for redevelopment there will be riots and anyhow the whole site's liable to explode any minute. Basically it's worth nothing. But - you won't believe this - I've found someone who will pay £2.5m (less my deductions obviously). I'd take it and run if I were you."

I wonder if they only found out about the tanks causing a risk when the built the stands and started putting the away fans in it to protect their own,*****

[down-the-slope]

http://www.gva.co.uk/research/Economic-and-Property-Market-Review-Q1-2014/

Nice to see that every indicator in the economy & property sector is on an upward trend in terms of demand and prices....

Hope that the Creditors in Lithuanian know that its a great time to own land / property in the Capital with such an improving picture :agree:

[Glesgahibby]

Time is ticking and SPFL,SFA,BDO,FOH and mrs Budge all have to be,by now examining worst case scenarios.its clear they cannot rumble on through the close season without financial donations.
It really is last chance saloon as far as the cva being rubber stamped.
The question of how easy it is to defrost the shares has never properly been approached by any of the above mentioned organisations.
The fact no UKIO creditors meeting has ever been confirmed past or present(remember the 30 day notice quotes?)
The complete black out of media/spin/begging bowl from BDO is unusual but speaks volumes.
There is now 30 days left til there last game of the season,I think all they can do now is make sure they get that far and then pull the plug.
What would happen next is up for debate:greengrin

[Sergey]

Time is ticking and SPFL,SFA,BDO,FOH and mrs Budge all have to be,by now examining worst case scenarios.its clear they cannot rumble on through the close season without financial donations.
It really is last chance saloon as far as the cva being rubber stamped.
The question of how easy it is to defrost the shares has never properly been approached by any of the above mentioned organisations.
The fact no UKIO creditors meeting has ever been confirmed past or present(remember the 30 day notice quotes?)
The complete black out of media/spin/begging bowl from BDO is unusual but speaks volumes.
There is now 30 days left til there last game of the season,I think all they can do now is make sure they get that far and then pull the plug.
What would happen next is up for debate:greengrin

They're going to require circa £400k to simply get to the seasons end with little or no income.

That's their most pressing concern.

[Glesgahibby]

They're going to require circa £400k to simply get to the seasons end with little or no income.

That's their most pressing concern.
Yip,
question is,how do BDO rally the troops for one more push without giving the game away?
Its very apparent now the odds are heavily stacked in favoure of liquidation,surely even the most gullible yam must see that now.

[brog]

I think Ewing Grahame is a freelancer, his articles turn up in various papers. He was unusually good during the Hun saga. There's a small echo of that in this article:

"Should Hearts be forced into liquidation then they could emulate Rangers – who suffered the same fate in 2012 – by forming a new club, playing out of Tynecastle and beginning life in the bottom tier, but BDO remains optimistic that a deal can be done to maintain their unbroken lineage."

Not many hacks will admit that the old Huns' lineage broke. :wink:


That would be their unbroken lineage since 1905 then??

[cad]

I thought they were into the SPFL for an early handout for money they are due :dunno:

[jacomo]

http://www.gva.co.uk/research/Economic-and-Property-Market-Review-Q1-2014/

Nice to see that every indicator in the economy & property sector is on an upward trend in terms of demand and prices....

Hope that the Creditors in Lithuanian know that its a great time to own land / property in the Capital with such an improving picture :agree:

'We would have got away with it if it wasn't for that pesky property-led economic recovery!'

[Phil D. Rolls]

Time is ticking and SPFL,SFA,BDO,FOH and mrs Budge all have to be,by now examining worst case scenarios.its clear they cannot rumble on through the close season without financial donations.
It really is last chance saloon as far as the cva being rubber stamped.
The question of how easy it is to defrost the shares has never properly been approached by any of the above mentioned organisations.
The fact no UKIO creditors meeting has ever been confirmed past or present(remember the 30 day notice quotes?)
The complete black out of media/spin/begging bowl from BDO is unusual but speaks volumes.
There is now 30 days left til there last game of the season,I think all they can do now is make sure they get that far and then pull the plug.
What would happen next is up for debate:greengrin

Worst case scenario for Mrs Budge is that the deal goes through and she spends years trying to deal with the expectations of those knuckle draggers. They've been pampered for so long they'll take it ill out if antibody tells them they can't have what they want.

[Glesgahibby]

I thought they were into the SPFL for an early handout for money they are due :dunno:
100 grand,think they need a tad more than that:agree:

[Jack]

I've got general rule of thumb with any main stream media. Unless it's a quote from a named individual i always regard it as bollocks

Thats a dodgy rule to have!

In my time I've written a few press releases which included direct quotes I'd made up. It would then be seen by the media folk. Only sometimes after that would the person who [never] made the quote agree that's what they said before it was released!

[lord bunberry]

Yip,
question is,how do BDO rally the troops for one more push without giving the game away?
Its very apparent now the odds are heavily stacked in favoure of liquidation,surely even the most gullible yam must see that now.
You give them way way to much credit.

[hibbypostie]

According to Kickback (admittedly, not the most reliable of sources) there's seemingly a comment in today's Sun that mentions that the date of the meeting is being announced today.

I'm not sure if this is the case, but I'm not aware (yet) of any confirmed date.

there was a small bit in todays sun saying BDO would be told the date of the UKIO meeting today
not seen any date mentioned though

[GreenLake]

the chances are high that investors would not want to buy a property for fear of the continuing bullying, institutions of political pressure.

LOL !!

What, more kicking of Russian hats ?

The impression the HMFC establishment crooks are giving potential foreign investors is not beneficial for economic recovery. Is Scotland really a place where hooligans and corrupt politicians can bully investors from obtaining a fair market price for their assets?

[Dashing Bob S]

The impression the HMFC establishment crooks are giving potential foreign investors is not beneficial for economic recovery. Is Scotland really a place where hooligans and corrupt politicians can bully investors from obtaining a fair market price for their assets?

Drunken jakeys in Russian hats crying silver tears of pride and breek-stained overweight politico's are hardly likely to deter investors who can sniff cash as well as pish.

[Kato]

The impression the HMFC establishment crooks are giving potential foreign investors is not beneficial for economic recovery. Is Scotland really a place where hooligans and corrupt politicians can bully investors from obtaining a fair market price for their assets?



Not exactly the impression to give during the year of the referendum, yet Alex Salmond and Ian Murray seem happy to get behind this.

[Kato]

Drunken jakeys in Russian hats crying silver tears of pride and breek-stained overweight politico's are hardly likely to deter investors who can sniff cash as well as pish.


Nice.

Nice at tea time, Bob.


C'mon, eh.

[Glesgahibby]

You give them way way to much credit.
I don't think there club/newco/Phoenix/yamco will get any credit in the near future:greengrin
as for the deluded yams,they must feel it inside:wink:

[Onion]

Yip,
question is,how do BDO rally the troops for one more push without giving the game away?
Its very apparent now the odds are heavily stacked in favoure of liquidation,surely even the most gullible yam must see that now.

Would agree with you if it wasn't for the incredibly upbeat statements from FOH, Ian the MP and BDO. They could not have been more positive about the progress made on Monday (huge steps forward, half way their etc). If BIG L was looking likely, last Monday was the perfect opportunity/time to change the tone of the message.

[Glesgahibby]

Would agree with you if it wasn't for the incredibly upbeat statements from FOH, Ian the MP and BDO. They could not have been more positive about the progress made on Monday (huge steps forward, half way their etc). If BIG L was looking likely, last Monday was the perfect opportunity/time to change the tone of the message.
FOH spinning yarns of meeting has just begun must set alarm bells ringing for the yam.
BDO have said nowt after Monday,again the yam must be deaf with the ringing in his napper :greengrin

[Kato]

Would agree with you if it wasn't for the incredibly upbeat statements from FOH, Ian the MP and BDO. They could not have been more positive about the progress made on Monday (huge steps forward, half way their etc). If BIG L was looking likely, last Monday was the perfect opportunity/time to change the tone of the message.

Got to keep those Direct debits coming in and stop Budgie from getting nervy.

Remember, it's only a few weeks ago that they were half-way there because they "had" the UKIO shares and the UBIG ones were the sticking point. Now it's the other way around but it's just "technical issues" and they're "waiting for that rubber stamp".

Truth is they haven't got any shares so far, not one share has changed ownership from Lithuania to the FoH.

Next week they'll be the brink of finding out about news the could lead to a meeting that if, things go Hearts way, will be taking a huge step towards Hearts, maybe, getting hold of shares that would lead to FULL FAN OWNERSHIP - if the proposed meeting takes place and if the Lithuanians see sense and if it's rubber stamped and if there are no further delays and if the shares are passed over quickly and that's taking into account a 20 day cooling off period and ratification by the Lithuanian court.

In other words they are waffling whilst they tread water whilst trying to appear up-beat. Magicians (and con-men ) call it "misdirection".

George Orwell wouldn't have proposed people being so stupid as to actually believe such guff, but here we are.

[PapillonVert]

Would agree with you if it wasn't for the incredibly upbeat statements from FOH, Ian the MP and BDO. They could not have been more positive about the progress made on Monday (huge steps forward, half way their etc). If BIG L was looking likely, last Monday was the perfect opportunity/time to change the tone of the message.

I'm beginning to wonder if the BDO/FoH/BidCo strategy is to organise a meeting, any kind of meeting, with anyone connected with UKIO (or is it UBIG - so many twists and turns it's hard to keep up) in Lithuania, and then claim they have an agreement "in principle" for the transfer of the required shares.

FoH can then use this as an excuse to release some of the war chest and BDO can start selling season tickets.

Forget the need for Court ratification - that legal requirement will be conveniently glossed over as the famous "rubber stamp" formality. Even if the truth is, it isn't.....

Although it has to be said that HMFC wouldn't recognise a "principle" if it came up and hit them between the eyes.

[Kato]

must set alarm bells ringing for the yam.


You would imagine.

If the Hearts fans in my work are anything to go by they are happy sitting about in a puddle of their own "5-1, 1902" flavoured pish.

Idiots, yes - but they don't stand a chance given the lies there own people are spinning them.

[NYHibby]

In my time I've written a few press releases which included direct quotes I'd made up. It would then be seen by the media folk. Only sometimes after that would the person who [never] made the quote agree that's what they said before it was released!

This is correct. Most press release quotes are made up by the person writing the press release not the named individual.

[Jdawg]

Hibs net has provided a lot of good info on the administration processes so far, which as time goes by, has been shown to be correct. Can any of our experts shed some light on the liquidation process as it appears to be becoming more certain as time progresses - death by a thousand delays. Some questions that spring to my mind:-
Point 2.

.

1. The last game of the Yams' season is 10 May and let's assume that the 2014/15 season starts on 9 August. That's 13 weeks by my reckoning. It's already been pointed out on this thread that the Sevco liquidation was built into the CVA which expedited that liquidation process. Any liquidation of the Yams will be more complex. Can any experts outline what the process would be and what would be a likely time scale. In particular could it be completed, including agreeing to re-enter league2, within 13 weeks?


2. What would be the situation with the PBS? How long would it take to secure a sale? Would the liquidator be able to let the Yams play on in the stadium or would it be locked pending a sale?


3. What are the likely implications for SPFL for organising the leagues?


I presume that these questions will have been fully discussed at PBS and SPFL and one would have expected that our respected friends in the media and our western neighbours would have asked these and even more searching questions of the powers that be.


Any knowledgeable response would be appreciated.

As as soon as liquidator appointed PBS can be sold. In a liquidation it's sold as it is and no warranty or indemnity required as it's a commercial premises.

Locked straight away as asset is in the hands of the liquidator

[EdinMike]

http://youtu.be/M2dhD9zR6hk

[Brunswickbill]

from Sickbag today

The lack of communication is a worry. We were all led to believe Monday was D day yet it came and went without the ukio meeting and no mention if that was even planned for the same day.

We can only hope paperwork and last minute niggles are being ironed out, but I do have a nagging feeling the goalposts have been moved since they agreed the cVa in principal last November.

The real people who are ITK have kept quiet for almost the whole of the admin process, let's just hope we don't have much longer being kept in the dark and this meeting goes through by end of the month.



Perfect example of Mushroom management. Keep them in the dark and feed them sh*t:hmmm:

[monktonharp]

http://www.gva.co.uk/research/Economic-and-Property-Market-Review-Q1-2014/

Nice to see that every indicator in the economy & property sector is on an upward trend in terms of demand and prices....

Hope that the Creditors in Lithuanian know that its a great time to own land / property in the Capital with such an improving picture :agree::agree: also, Lithuania will need an embassy, if we are independent. a brand new purpose built embassy, a mile from the city centre, with no problem getting planning permission. oh the irony.:wink:

[jakeshibs]

:agree: also, Lithuania will need an embassy, if we are independent. a brand new purpose built embassy, a mile from the city centre, with no problem getting planning permission. oh the irony.:wink:

that would be great ha ha

[Dashing Bob S]

Nice.

Nice at tea time, Bob.


C'mon, eh.

I do beg your pardon, but you must be fully aware of the risks incurred going on a thread relating to Hearts around meal times. 'You've only done it to yourself.'

[Kato]

I do beg your pardon, but you must be fully aware of the risks incurred going on a thread relating to Hearts around meal times. 'You've only done it to yourself.'

Point taken.

[Springbank]

:agree: also, Lithuania will need an embassy, if we are independent. a brand new purpose built embassy, a mile from the city centre, with no problem getting planning permission. oh the irony.:wink:

Tynecastle would make for an excellent location for a Lithuanian embassy, a hat factory and a grubby little office for ukip and the bnp (at notorious section N of their pokey ground)

[monktonharp]

Tynecastle would make for an excellent location for a Lithuanian embassy, a hat factory and a grubby little office for ukip and the bnp (at notorious section N of their pokey ground)some of these new build places need to conform with outside influences, but those from outwith their thoughts may help to pay the initial start up costs.:wink: eventually, any trouble makers will be emptied oot, as this area will be classed as quite exclusive. They could have plans to share the building(s) with Estonia, Latvia for example.:cb

[Criswell]

Re Lord Foulkes of Leakstaines. Wasn't he going to have a meeting with the Lithuainian Ambassador to make a special pleading? Question is, when he fetched up at the Embassy, reeking of booze and dressed like a tramp, did he even get into the building?

[GlasgowHibee]

What a shock... not.


Bryan Jackson, of Hearts’ administrators BDO, has returned from Lithuania without confirmation of when Ukio Bankas’ pivotal creditors meeting will take place.
Ann Budge’s BIDCO 1874 company have tabled a £2.5 million offer for Ukio’s 29.9 per cent shareholding in the club and their security over Tynecastle Stadium, but it must be ratified by creditors of the fallen bank.
If the transfer of shares is not confirmed, Hearts are effectively guaranteed to face liquidation. However, a date for the meeting which will decide the fate of the capital club has not yet been pencilled in.
BDO remain hopeful the meeting will take place next week. To that end, Jackson will return to Vilnius next Monday.
The earliest BDO are expected to learn the pivotal date is today, but that entirely depends on the progression of high-level talks continuing in Lithuania.

http://www.scotsman....-week-1-3372917 (http://www.scotsman.com/sport/football/spfl/hearts-bdo-hope-for-creditors-meeting-next-week-1-3372917)

[s2hart]

What a shock... not.


Bryan Jackson, of Hearts’ administrators BDO, has returned from Lithuania without confirmation of when Ukio Bankas’ pivotal creditors meeting will take place.
Ann Budge’s BIDCO 1874 company have tabled a £2.5 million offer for Ukio’s 29.9 per cent shareholding in the club and their security over Tynecastle Stadium, but it must be ratified by creditors of the fallen bank.
If the transfer of shares is not confirmed, Hearts are effectively guaranteed to face liquidation. However, a date for the meeting which will decide the fate of the capital club has not yet been pencilled in.
BDO remain hopeful the meeting will take place next week. To that end, Jackson will return to Vilnius next Monday.
The earliest BDO are expected to learn the pivotal date is today, but that entirely depends on the progression of high-level talks continuing in Lithuania.

http://www.scotsman....-week-1-3372917 (http://www.scotsman.com/sport/football/spfl/hearts-bdo-hope-for-creditors-meeting-next-week-1-3372917)

Is this why Bajillions has been quiet for the past week? I enjoy reading his insiders mood updates from the pink bus shelter!

It would be handy to know what his SPFL or SFA insider has to say on the begging bowl coming out for the remaining cash!

Thanks to our knowledgable people and keep up the good work, we know where to come for the truth.:agree:

[bingo70]

So bdo were lying to the lithuanians about needing a decision on monday in order to bully them into making a rushed decision?

[Moulin Yarns]

What a shock... not.


Bryan Jackson, of Hearts’ administrators BDO, has returned from Lithuania without confirmation of when Ukio Bankas’ pivotal creditors meeting will take place.
Ann Budge’s BIDCO 1874 company have tabled a £2.5 million offer for Ukio’s 29.9 per cent shareholding in the club and their security over Tynecastle Stadium, but it must be ratified by creditors of the fallen bank.
If the transfer of shares is not confirmed, Hearts are effectively guaranteed to face liquidation. However, a date for the meeting which will decide the fate of the capital club has not yet been pencilled in.
BDO remain hopeful the meeting will take place next week. To that end, Jackson will return to Vilnius next Monday.
The earliest BDO are expected to learn the pivotal date is today, but that entirely depends on the progression of high-level talks continuing in Lithuania.

http://www.scotsman....-week-1-3372917 (http://www.scotsman.com/sport/football/spfl/hearts-bdo-hope-for-creditors-meeting-next-week-1-3372917)


OK, the big question now is.....

How come BJ doesn't know when /if the meeting is happening, but he hopes it is next week, when Desantos has it from his contacts on the ground in Lithuania (Bloomberg), that it was on the 18th, then shifted to the 22nd because somebody pointed out it was Easter weekend??

Second Question, this is the first time I've seen the name of Bidco referred to as "BIDCO 1874"

[Waxy]

Bidco, kinda reminds me of sevco.

[lapsedhibee]

this is the first time I've seen the name of Bidco referred to as "BIDCO 1874"

Daubing "1874" on all the documentation will certainly convince me that The The Famous, or whatever the eventual phoenix company calls itself, will still be the same club after liquidation as before. :agree:

[God Petrie]

Daubing "1874" on all the documentation will certainly convince me that The The Famous, or whatever the eventual phoenix company calls itself, will still be the same club after liquidation as before. :agree:

Personally I'm surprised they didn't go with BIDCO 1914

[Weststandwanab]

I think you will find they will go with Newco
.

[greenpaper55]

I think you will find they will go with Newco
.

I wish they would just go.

[Onion]

Personally I'm surprised they didn't go with BIDCO 1914

We define them. BIDCO1902/5-1

[Ronniekirk]

I think you will find they will go with Newco
.

Or Youngco :wink:

[#FromTheCapital]

"Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place."

They surely wouldn't need to do this if it was a foregone conclusion. If this happens I hope the creditors are smart enough not to believe the bull**** BDO will be feeding them.

[Onion]

"Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place."

They surely wouldn't need to do this if it was a foregone conclusion. If this happens I hope the creditors are smart enough not to believe the bull**** BDO will be feeding them.

Exactly what I thought when read that. Definitely sounds 50/50 at best.

[Weststandwanab]

I wish they would just go. Like Sevco and The Rangers, Hearts are not going to go "The Famous will just support a Newco of some identity and play the martyrdom card

[Ronniekirk]

"Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place."

They surely wouldn't need to do this if it was a foregone conclusion. If this happens I hope the creditors are smart enough not to believe the bull**** BDO will be feeding them.
Says hopeful ,why would they want to hear more lies from this mob ,they have already Sussex out they are being bullied and short changed.
Maybe we should be allowed a hibs .net delegation led by Sergey to give the counter arguments in the interests of balance and sporting integrity .:wink: And show them in their true colours

[The Falcon]

Does anybody know if BDO went to these lengths to preserve the company at Portsmouth FC?

[greenginger]

"Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place."

They surely wouldn't need to do this if it was a foregone conclusion. If this happens I hope the creditors are smart enough not to believe the bull**** BDO will be feeding them.


Hope he brushes up on his Lithuanian, and I don't suppose he will start with ,

" Right you lot, you had better listen as I cost £ 500/hour and your paying ......."

[Springbank]

Surely BIDCO 1905 is more accurate