Share Transfers Agreed/Cooling off period

[Eyrie]

On the Quantum Holdings thing, whoever buys the UBIG/Ukio shares will have to offer the same terms to other shareholders. That means that if they pay £70k for UBIG's 50% shareholding they'll have to offer £21k for Quantum's shares.

On a straight pro rata basis yes, but surely a discount should be applied given that the 15% is a minority interest? The 50% holding effectively provides control as the remaining shares are split (ie 29% UKIO, 15% QH, 6% other) and would need to agree unanimously to cancel out the 50% bought from UBIG.

Given the sums involved though, it's probably easier to just offer £21k for a quick resolution rather than £10k.

[greenginger]

It wasn't reported that way. The last thing I read was that FoH were directly paying the UBIG Admins 70k for the shares.


The CVA document approved last November states,

Clause 5.3 ( page 4 ) " FoH (or its nominee ) will acquire the shareholdings of Ukio Bankas and UBIG ( circa 80% )of the club or failing an equivalent majority shareholding, in exchange for £ 1 Sterling. "


Can the conditions be varied at a later date ? Would'nt matter anyway , Jackson would just ignore the rules.

[whiskyhibby]

I thought this was all meant to be done and dusted weeks ago, why the silence in the Yam loving media?

[R11Loaded]

A hearts fan I know who claimed they'd be out of admin most months until now has told me the have funding and will exit administration soon. Not that he'd tell me what funding.

Does anyone have access to the link that quotes Bryan Jackson as saying mid June?


Sent from my iPhone using Tapatalk

[Keith_M]

A hearts fan I know who claimed they'd be out of admin most months until now has told me the have funding and will exit administration soon. Not that he'd tell me what funding.


It's just a pity for them that the CVA process doesn't run by wishful thinking and that it all just takes time.

Dunfermline took months from a CVA being agreed to finally being able to exit Administration, and their situation was a lot simpler (it all took place in Scotland, for one)

[Geo_1875]

Indeed unless, for some reason, they become so rich Liquidation wold never be an issue.

You mean like some megarich bank owning industrialist takes them over?

[Caversham Green]

On a straight pro rata basis yes, but surely a discount should be applied given that the 15% is a minority interest? The 50% holding effectively provides control as the remaining shares are split (ie 29% UKIO, 15% QH, 6% other) and would need to agree unanimously to cancel out the 50% bought from UBIG.

Given the sums involved though, it's probably easier to just offer £21k for a quick resolution rather than £10k.

The rule is that the offer must be made on the same terms so it would have to be the £21k if they're doing it the way I outlined. I don't know if that's the case or if greenginger's version is more accurate though.

As far as keeping the shares goes, they won't be paying any dividends and they'll be a minority holding where the majority is held by a single entity - therefore no realistic voting power. I'd take the money and run.

[Weststandwanab]

You mean like some megarich bank owning industrialist takes them over? If it is there own cash, yes !

[Keith_M]

.... I'd take the money and run.


I don't see why.

21k for a 15% shareholding means an evaluation of only 140k for the whole club. If Hearts actually get through the CVA, the club/company must be worth much more than that, considering they will additionally own the stadium and the land it sits on outright.

All they'd need to do is hold out for a while and make a killing selling the shares for their actual value.

[Ronniekirk]

It's just a pity for them that the CVA process doesn't run by wishful thinking and that it all just takes time.

Dunfermline took months from a CVA being agreed to finally being able to exit Administration, and their situation was a lot simpler (it all took place in Scotland, for one)
But the memorandum of misunderstanding seems to have been around for ages assume that's what they are all trying to firm up on now Unless there are other issues that come out of this I don't think we will hear a lot until there is an announcement that's it done and we will have another fanfare ,media frenzy and more backslapping all round ,or it will be negotiations are going on longer than anticipated with one or two hurdles still to overcome but we are still confident it will be done before the start of next season and we don't anticipate having to go into the Championship starting with minus 15 points I think the big L is now a long shot unless the Liths are game playing .

[HUTCHYHIBBY]

Last home game of the season on Wednesday.
Cant see many walk ups,but partick should take a decent following.

13.5K crowd, as usual! :tee hee:

[Weststandwanab]

I don't see why.

21k for a 15% shareholding means an evaluation of only 140k for the whole club. If Hearts actually get through the CVA, the club/company must be worth much more than that, considering they will additionally own the stadium and the land it sits on outright.

All they'd need to do is hold out for a while and make a killing selling the shares for their actual value. I am with you - I would hold the shares and hope they rise in value.


But the memorandum of misunderstanding seems to have been around for ages assume that's what they are all trying to firm up on now Unless there are other issues that come out of this I don't think we will hear a lot until there is an announcement that's it done and we will have another fanfare ,media frenzy and more backslapping all round ,or it will be negotiations are going on longer than anticipated with one or two hurdles still to overcome but we are still confident it will be done before the start of next season and we don't anticipate having to go into the Championship starting with minus 15 points I think the big L is now a long shot unless the Liths are game playing . My first wife and I have had a memorandum of understanding for the last 20 years now - it is called a divorce settlement.

[Caversham Green]

I don't see why.

21k for a 15% shareholding means an evaluation of only 140k for the whole club. If Hearts actually get through the CVA, the club/company must be worth much more than that, considering they will additionally own the stadium and the land it sits on outright.

All they'd need to do is hold out for a while and make a killing selling the shares for their actual value.

The shares are only worth what someone would pay for them and there's no investment value in them. No dividend yield and there's still the risk of liquidation or the club going bust again. The capital value is only worth something if it's likely to be realised at some time and that's unlikely to happen. Of course you might get some daftie that was prepared to give you more money for them - they did part with more than a million for shares (which they still haven't got) in an openly insolvent company, but surely they wouldn't get stitched up like that again.

Would they?

[Ronniekirk]

I am with you - I would hold the shares and hope they rise in value.

My first wife and I have had a memorandum of understanding for the last 20 years now - it is called a divorce settlement.
:wink: You should have gone for a Pre Nuptial :agree:

[Keith_M]

The shares are only worth what someone would pay for them and there's no investment value in them. No dividend yield and there's still the risk of liquidation or the club going bust again. The capital value is only worth something if it's likely to be realised at some time and that's unlikely to happen. Of course you might get some daftie that was prepared to give you more money for them - they did part with more than a million for shares (which they still haven't got) in an openly insolvent company, but surely they wouldn't get stitched up like that again.

Would they?

I'd imagine if they waited long enough, there will be individual Hearts supporters that would like to hold shares in their club. We have people on hibs.net regularly asking how they go about buying shares in Hibs, they would be no different. I think it's more of an emotional attachment; even for the 'ego value', as in a small businessman happy for people to know he owns 5% (or whatever) of Hearts.

I realise that it wouldn't be considered a great investment for a real businessman/woman but I'd be willing to bet on gaining more than 21k for selling them off in small purchases.

[Famous Fiver]

It's all gone quiet over there I think that getting out of administration is going to be a bumpy, lengthy and expensive process.

[southsider]

It's all gone quiet over there I think that getting out of administration is going to be a bumpy, lengthy and expensive process.
How ? They do not pay anyone as it is. Did we get paid for the recent derby tickets ?

[HUTCHYHIBBY]

My first wife and I have had a memorandum of understanding for the last 20 years now - it is called a divorce settlement.

Did she file for divorce because you used to quote back to her everything she ever said to you?

[Weststandwanab]

:wink: You should have gone for a Pre Nuptial :agree: They are now,and were then, not legal in this country.


I'd imagine if they waited long enough, there will be individual Hearts supporters that would like to hold shares in their club. We have people on hibs.net regularly asking how they go about buying shares in Hibs, they would be no different. I think it's more of an emotional attachment; even for the 'ego value', as in a small businessman happy for people to know he owns 5% (or whatever) of Hearts.

I realise that it wouldn't be considered a great investment for a real businessman/woman but I'd be willing to bet on gaining more than 21k for selling them off in small purchases. I would take 15 per cent at the going rate and throw them away for ten years in my safe and then smile.


Did she file for divorce because you used to quote back to her everything she ever said to you? Now it is funny you should say that..... it deserves a post on its own.

[Www1875hfc]

Did she file for divorce because you used to quote back to her everything she ever said to you?

:tee hee:

[Weststandwanab]

:tee hee:As you are doubly keen to know.....

It was 1994 a hot July afternoon and the world cup was on.

We were having a BBQ and friends over.

The drink was flowing.

Brazil were playing U.S.A..

Halfway through the second half I went from the garden in the house to see the score and my first wife followed me proclaiming "you do not pay me enough attention".

Without thinking too much I replied "yes but can I see the football score first" !

The rest they say was history.

[HUTCHYHIBBY]

Bebeto scored that day! Sounds like you didn't! :-)

[Weststandwanab]

Bebeto scored that day! Sounds like you didn't! :-)
We both did he a goal and me my freedom.

Every Independence Day I lift a wee dram to that match.

[grunt]

FOH update 6 May

Foundation of Hearts ‏@The_FOH 4m (https://twitter.com/The_FOH/status/463693834111942656) UPDATE: Sale & Purchase Agreement (SPA) not yet done. Given it's already 2nd week of May selling out Tynecastle on Wed would really help.

[Haymaker]

Still on!

[AinsterHibs]

Still on!

Yup.....and the yak are doing what they do best, beg, plead, steal, deceive and deny.

[greenginger]

FOH update 6 May

Foundation of Hearts ‏@The_FOH 4m (https://twitter.com/The_FOH/status/463693834111942656) UPDATE: Sale & Purchase Agreement (SPA) not yet done. Given it's already 2nd week of May selling out Tynecastle on Wed would really help.

Any ideas what their attendance on Sunday actually was. Not the 13,500 or whatever crap they publish and our media dutifully print without question ?

[Ozyhibby]

Any ideas what their attendance on Sunday actually was. Not the 13,500 or whatever crap they publish and our media dutifully print without question ?

It was not as high as that but it was a not bad crowd. Maybe 12,000.

[Weststandwanab]

FOH update 6 May

Foundation of Hearts ‏@The_FOH 4m (https://twitter.com/The_FOH/status/463693834111942656) UPDATE: Sale & Purchase Agreement (SPA) not yet done. Given it's already 2nd week of May selling out Tynecastle on Wed would really help.

Looks like the begging bowl is out.

What makes me suspicious is that a Sale and Purchase Agreement is between BDO and Budgie/F.O.H.

So a willing buyer cannot agree with a willing seller – I wonder why that is ?

Could it be the non delivery of the shares ?

Keep the faith the big L is still possibility and as days go by more of probability

[Waxy]

They are probably waiting till after wednesdays match to announce they've done it. Just to bring in maximum takings. It's what they do.

[Ringothedog]

It was not as high as that but it was a not bad crowd. Maybe 12,000.

Where was that figure published or is it a guess ?

[Ozyhibby]

Where was that figure published or is it a guess ?

It's a guess, I was at the game.

[greenginger]

Looks like the begging bowl is out.

What makes me suspicious is that a Sale and Purchase Agreement is between BDO and Budgie/F.O.H.

So a willing buyer cannot agree with a willing seller – I wonder why that is ?

Could it be the non delivery of the shares ?

Keep the faith the big L is still possibility and as days go by more of probability


The CVA agreement named the purchaser as FoH or their Nominee, so there is nothing to stop Budge Co. stepping in immediately.

The delays must be at the Lith. end unless Budge and the Fannies can't agree on legal costs, current shortfall , or who gets the proceeds from the next cake-bake.

I thought total transparency was the number one in the Mission Statement of FoH.

[Keith_M]

it's a guess, i was at the game.



ltyf

[Gus Fring]

It was not as high as that but it was a not bad crowd. Maybe 12,000.

It was 11,634 I'm told.

[Ozyhibby]

ltyf

:-)

[Ringothedog]

It was 11,634 I'm told.

So they are still lieing about their crowds. I just don't get it unless they have a phallus inadequacy.

[Famous Fiver]

Tin hat on..........

TICK TOCK

[Weststandwanab]

The CVA agreement named the purchaser as FoH or their Nominee, so there is nothing to stop Budge Co. stepping in immediately.

The delays must be at the Lith. end unless Budge and the Fannies can't agree on legal costs, current shortfall , or who gets the proceeds from the next cake-bake.

I thought total transparency was the number one in the Mission Statement of FoH.

I agree and did not mean to suggest it would be any sort of problem.

What I meant was if there is a willing seller (BDO) and a willing buyer (Nominee) and ten days alter the deal is not done then the problem must lie elsewhere and in this case I would suggest that the non delivery of the shares from Lithland could well be the problem.



Tin hat on..........

TICK TOCK Why Tin Hat on ?

[Gus Fring]

So they are still lieing about their crowds. I just don't get it unless they have a phallus inadequacy.

It's not so much that they are lying, they are reporting the gate rather than the attendance. Hearts report the maximum number of tickets issued. Celtic do it also. Every other club counts the people that actually turn up.

[Famous Fiver]

Jambo lurkers scurrying back to weareskint.net to report our thoughts, many hibbies who have thrown in the towel, keyboard warriors ec. etc. I'm still sitting here enjoying the journey. Many episodes left, this saga has a long way to run.

[Greenworld]

Jambo lurkers scurrying back to weareskint.net to report our thoughts, many hibbies who have thrown in the towel, keyboard warriors ec. etc. I'm still sitting here enjoying the journey. Many episodes left, this saga has a long way to run.

Its certainly dragging on their is defo an issue whether its the shares
or not I dont know but their is talk of this dragging on into start
of the new season ........source a friend of Murray ...

[Weststandwanab]

Its certainly dragging on their is defo an issue whether its the shares
or not I dont know but their is talk of this dragging on into start
of the new season ........source a friend of Murray ...

Shares - or lack of them !

Keep the faith the big L is still a possibility

[Eyrie]

Jambo lurkers scurrying back to weareskint.net to report our thoughts, many hibbies who have thrown in the towel, keyboard warriors ec. etc. I'm still sitting here enjoying the journey. Many episodes left, this saga has a long way to run.

I'd rather be in our position than theirs.

[Steve20]

I'd rather be in our position than theirs.

We're both going down and they'll be back before us. So, no i wouldn't.

[Twa Cairpets]

We're both going down and they'll be back before us. So, no i wouldn't.

So you'd rather be confirmed as relegated rather than not currently be relegated? Weird.

[matty_f]

We're both going down and they'll be back before us. So, no i wouldn't.

Any chance of tonight's lottery numbers please?

[weonlywon6-2]

Shares - or lack of them !

Keep the faith the big L is still a possibility

I wish i could believe you !!

[sleeping giant]

We're both going down and they'll be back before us. So, no i wouldn't.

:faf:
you have arrived . Multiple folk quoting you .
You are strange though :agree:

[Weststandwanab]

We're both going down and they'll be back before us. So, no i wouldn't. Not if they are Liquidated.


So you'd rather be confirmed as relegated rather than not currently be relegated? Weird. Yes that is a strange one.


I wish i could believe you !!

I wish I could believe me too.

My gut tells me there is a problem with delivering the famous shares and delay after delay confirms my gut instinct.

I have no doubt if they exit the C.V.A. I will get dog’s abuse from some quarters on this board but I have a thick skin.

I have said before my preference would be that they are not liquidated but suffer some severe financial constraints for a while and Budgie can easily deliver that.

But for her/F.O.H./Ian – I was an M.P. - Murray/ any nominee they need the shares to be delivered.

To deliver the shares the Micro Wave needs plugged in.

BJ said they would run out of cash in May and they are desperate to get to the end of the season – Sunday so they can get the £100k they are due to last a few days longer.

I will stick my neck out and say if there is no Micro wave plugged in by Monday BJ may well just throw in the towel.

In the mealtime come on The Jambos and St. Midden.

[gorgie greens]

Not if they are Liquidated.

Yes that is a strange one.



I wish I could believe me too.

My gut tells me there is a problem with delivering the famous shares and delay after delay confirms my gut instinct.

I have no doubt if they exit the C.V.A. I will get dog’s abuse from some quarters on this board but I have a thick skin.

I have said before my preference would be that they are not liquidated but suffer some severe financial constraints for a while and Budgie can easily deliver that.

But for her/F.O.H./Ian – I was an M.P. - Murray/ any nominee they need the shares to be delivered.

To deliver the shares the Micro Wave needs plugged in.

BJ said they would run out of cash in May and they are desperate to get to the end of the season – Sunday so they can get the £100k they are due to last a few days longer.

I will stick my neck out and say if there is no Micro wave plugged in by Monday BJ may well just throw in the towel.

In the mealtime come on The Jambos and St. Midden.

When they are saying there running costs are £100 k per week,that's along time to go without any money while the club is in limbo

[GreenLake]

Jambo lurkers scurrying back to weareskint.net to report our thoughts, many hibbies who have thrown in the towel, keyboard warriors ec. etc. I'm still sitting here enjoying the journey. Many episodes left, this saga has a long way to run.

They are nervous about the possibility of us going down and THE rangers beating them to 2nd place for promotion playoff next season.

[gorgie greens]

They are nervous about the possibility of us going down and THE rangers beating them to 2nd place for promotion playoff next season.

they are nervous about us going down ,im *****ing myself

[GreenLake]

they are nervous about us going down ,im *****ing myself

Me too, but I am hoping not to let them see that.:wink:

[Famous Fiver]

Another week gone by and no action and silence from our soiled neighbours. At the very most away fans and walk ups would generate £40,000 on Wednesday, only enough to keep them going for a few days. The well must be just about dry by now and I look forward to the next instalment in their distasteful and sordid saga. There can only be a week or two's cash left. Interesting times ahead.

Before the Internet Taliban shout me down for not concentrating on our own troubles, I am going tomorrow, will be supporting Hibs 100%, will not boo, and will follow us to the play offs and Div 1 if it comes to that.

What a happy day if we win and their begging bowl appears at the same time!!!

[Weststandwanab]

Keep the faith the big L is still lurking

[3pm]

Keep the faith the big L is still lurking

Aye, right.

[Weststandwanab]

Aye, right.

Apparently Budgie now hopes to take control at the end of June !

http://t.co/6pg9SFIOqs

As for Cocke it will become quite clear when the big L is applied for.

[EK_Hibs]

Keep the faith the big L is still lurking

Oh dear

:tumble:

[Hank Schrader]

Keep the faith the big L is still lurking

You have over 400 posts on this thread, mainly a mixture of conjecture and pointless replies/multi quoting. I have at no point taken the slightest bit of interest in your opinion or postings on this matter. I will stick to the more knowledgeable and informative contributions from people who actually know what they are talking about (i.e CWG and Caversham).

Probably best if you step away from the thread, you are just making a t*t of yourself. :aok:

[AinsterHibs]

BBCBMcLauchlin ‏@BBCBMcLauchlin 26s
Hearts will formally exit admin within a few weeks#bbcsportscot

[#FromTheCapital]

BBCBMcLauchlin ‏@BBCBMcLauchlin 26s
Hearts will formally exit admin within a few weeks#bbcsportscot

But, but Weststandwanab says that liquidation is still possible

[AinsterHibs]

But, but Weststandwanab says that liquidation is still possible

I know what outcome I'd really want, but as with all things - there may be a twist and turn further along the road.

[Weststandwanab]

BBCBMcLauchlin ‏@BBCBMcLauchlin 26s
Hearts will formally exit admin within a few weeks#bbcsportscot Where have we heard that before ?


But, but Weststandwanab says that liquidation is still possible I have always maintained that if they cannot exit Admin before the cash runs out the big L is inevitable.


You have over 400 posts on this thread, mainly a mixture of conjecture and pointless replies/multi quoting. I have at no point taken the slightest bit of interest in your opinion or postings on this matter. I will stick to the more knowledgeable and informative contributions from people who actually know what they are talking about (i.e CWG and Caversham).

Probably best if you step away from the thread, you are just making a t*t of yourself. :aok: You can always vote with your eyes !

Thanks or the advice it is most helpful.

[greenpaper55]

You have over 400 posts on this thread, mainly a mixture of conjecture and pointless replies/multi quoting. I have at no point taken the slightest bit of interest in your opinion or postings on this matter. I will stick to the more knowledgeable and informative contributions from people who actually know what they are talking about (i.e CWG and Caversham).

Probably best if you step away from the thread, you are just making a t*t of yourself. :aok:

Jeezo, give the man a break, can we not have a laugh at things on here now before the thought police step in ?.

[speedy_gonzales]

Evening news reporting Ann Budge to be in hot seat by Monday a.m??Done and dusted? (http://www.edinburghnews.scotsman.com/news/hearts-spa-deal-done-ann-budge-to-start-next-week-1-3405002)

[#FromTheCapital]

I have always maintained that if they cannot exit Admin before the cash runs out the big L is inevitable.


Yes but it's a bit tiresome now. I would agree with you if it was still at the stage where they were waiting on approval from Ukio/UBIG. But that's all done and dusted now.

[Gus Fring]

Now that the deal has been completed, HMFC officially have access to both FOH funds and ongoing Direct Debits to fund the running of the club.

Season Tickets will be put on sale shortly as well.

[Geo_1875]

Now that the deal has been completed, HMFC officially have access to both FOH funds and ongoing Direct Debits to fund the running of the club.

Season Tickets will be put on sale shortly as well.

Now that the deal has been completed do they simply go to the courts to exit administration or is there anything else they need to do?

[Gus Fring]

Now that the deal has been completed do they simply go to the courts to exit administration or is there anything else they need to do?

I'm told there's a few minor loose ends (nothing that will derail the process) but yes, getting a court to sign off on it is the next step.

[hibbymac]

Now that the deal has been completed do they simply go to the courts to exit administration or is there anything else they need to do?

From the EEN article ...... Budge has a management agreement in place with Hearts’ administrators BDO to let her run the club until they are out of administration, which should happen within five to six weeks. The Evening News has learned that she could move into Tynecastle as early as Monday if everything goes to plan.

[SQHib]

From the EEN article ...... Budge has a management agreement in place with Hearts’ administrators BDO to let her run the club until they are out of administration, which should happen within five to six weeks. The Evening News has learned that she could move into Tynecastle as early as Monday if everything goes to plan.


Yip - hard to stomach ( especially as we could end up next to them ) but they have played a blinder ...morals aside .. to walk away from the financial omnishambles they were in with a 2.5m payment to own the lot lock stock and barrel has to be the steal of the century ..they were due to close to that in tax they had witheld over the last few years !! . as BadMartini often says administation is the new model for any football club now .. spend and then shed .. don't think they will be the last !!

Now watch them spend money they don't have and attempt to rub our noses in it.. one things for sure god's definitely no a hibbie !!

[hibbymac]

Yip - hard to stomach ( especially as we could end up next to them ) but they have played a blinder ...morals aside .. to walk away from the financial omnishambles they were in with a 2.5m payment to own the lot lock stock and barrel has to be the steal of the century ..they were due to close to that in tax they had witheld over the last few years !! . as BadMartini often says administation is the new model for any football club now .. spend and then shed .. don't think they will be the last !!

Now watch them spend money they don't have and attempt to rub our noses in it.. one things for sure god's definitely no a hibbie !!

:agree: You couldn't make it up, they never learn, reading some of the comments at the bottom of the article, one of them is a belter, ... Wonderful news, now we can look forward. Her first priority must be to sign a good centre half and also Rudi for midfield, he will be a storm in that league :bitchy:

[Keith_M]

Is there any chance we could now rack up over 20 million in debt, buy a few cups and then just dump all the debt after a few years please?


The Hibs way of being honest and paying your way is blatantly not working. The Bad Guys do, in fact, win in the end.

[Hibrandenburg]

Is there any chance we could now rack up over 20 million in debt, buy a few cups and then just dump all the debt after a few years please?


The Hibs way of being honest and paying your way is blatantly not working. The Bad Guys do, in fact, win in the end.

Let's just throw caution to the wind for the next 26 years or so. I'm not planning to live beyond 74 anyway so **** it!

[Keith_M]

Wow, so many visitors over from the Dark Side to read what we think of the news!


Hello Yams, go pay for your Poppies!



:jamboclow

[Jim44]

Yip - hard to stomach ( especially as we could end up next to them ) but they have played a blinder ...morals aside .. to walk away from the financial omnishambles they were in with a 2.5m payment to own the lot lock stock and barrel has to be the steal of the century ..they were due to close to that in tax they had witheld over the last few years !! . as BadMartini often says administation is the new model for any football club now .. spend and then shed .. don't think they will be the last !!

Now watch them spend money they don't have and attempt to rub our noses in it.. one things for sure god's definitely no a hibbie !!

That's the annoying thing. Admittedly I'm talking from ignorance of business/fiscal matters, but I can't help feeling that freedom from administration and Lithuanian involvement might very well open the floodgates of money pouring into the club to bolster Budge's project. I'm sure she won't be averse to welcoming financial investment.

[Keith_M]

Let's just throw caution to the wind for the next 26 years or so. I'm not planning to live beyond 74 anyway so **** it!



The week I've had, I don't think I'll last the weekend, so its a bit late for me. You enjoy yourself though!


Viel Spaß


:greengrin

[Twa Cairpets]

Is there any chance we could now rack up over 20 million in debt, buy a few cups and then just dump all the debt after a few years please?

The Hibs way of being honest and paying your way is blatantly not working. The Bad Guys do, in fact, win in the end.
Thing is, galling though it is to see them and their gloating, fat, ugly coupons and all the "it was worth it" 5-1, shadow bollox; depressing though it is with our current position and potential relegation; frustrating though it is to see opportunity going begging on the pitch, when all is said and done I wouldn't swap places for a micro-second with any of these gormless fud-knockers.

For as long as they live, they know that their success was tainted. I don't give a rancid badger's spleen what they say out loud. They know. We know. Cheats and thieves.

'Mon the Hibs

[hibbymac]

Wow, so many visitors over from the Dark Side to read what we think of the news!


Hello Yams, go pay for your Poppies!



:jamboclow

The more the merrier, more .net funds to the youth team :thumbsup:

[GreenLake]

I'm looking forward to see how they all get along over there in the next year or two.:greengrin

[Moulin Yarns]

I'm looking forward to see how they all get along over there in the next year or two.:greengrin

Trying to live within their means, on a tight Budgie is going to be difficult for some (most) to swallow. Then, when the FOH FUDS eventually pay the £2.5million to get FAnny ownership is when the fun/fighting begins.

[Pete]

Thing is, galling though it is to see them and their gloating, fat, ugly coupons and all the "it was worth it" 5-1, shadow bollox; depressing though it is with our current position and potential relegation; frustrating though it is to see opportunity going begging on the pitch, when all is said and done I wouldn't swap places for a micro-second with any of these gormless fud-knockers.

For as long as they live, they know that their success was tainted. I don't give a rancid badger's spleen what they say out loud. They know. We know. Cheats and thieves.

'Mon the Hibs

Couldn't agree more.

Victory is nothing without honour.

[greenpaper55]

Budge takes over on Monday

http://www.bbc.co.uk/sport/0/football/27347133

[SMAXXA]

Budge takes over on Monday

http://www.bbc.co.uk/sport/0/football/27347133


http://www.bbc.co.uk/sport/football/27347133

http://www.google.co.uk/imgres?imgurl=http://i46.photobucket.com/albums/f138/SpideyRex/verger.jpg&imgrefurl=http://neogaf.com/forum/showthread.php?t%3D364640%26page%3D32&h=270&w=406&tbnid=G1sRyjvBZgZWVM:&zoom=1&docid=KxTKMRYv7_sZ8M&hl=en&ei=oP1sU_DAIIGJzAPTq4DwBQ&tbm=isch&client=safari&ved=0CDgQMygAMAA

[greenpaper55]

The right royal way to p*** on their parade would be to win tomorrow, that would put their gas at a peep !.

[Keith_M]

The right royal way to p*** on their parade would be to win tomorrow, that would put their gas at a peep !.


Nah, I don't think it would.

They've just 'saved' their club and dumped over 20 million of debt, I don't think they'll be too despondent if we defeat the odds and actually stay up.

[HIBERNIAN-0762]

2.5 million quid for all the lying cheating thieving they have done.

If there is one arrogant club in the world that could have gotten away with this it is them.

Salmond, you better hope and pray they don't go down that path again (and they will) as it will be on your fat head that it has happened.

****bags of the highest order.

Nauseating

[marinello59]

The right royal way to p*** on their parade would be to win tomorrow, that would put their gas at a peep !.

Yeap.

[lucky]

Who gives a **** about them. This weekend is only about us not the cheats. They are down and are unlikely to be back for while so let's move on from that mob

[GlasgowHibee]

1579 pages of absolute crap spouted by supposed experts who were in direct contact with Lithuanians.

Annoyed but can't say I'm surprised. If there was ever a club who'd get away with cheating the taxpayers then it would always be them.

The problems are much closer to home, get rid of this abomination now.

[lapsedhibee]

1579 pages of absolute crap spouted by supposed experts who were in direct contact with Lithuanians.

Annoyed but can't say I'm surprised. If there was ever a club who'd get away with cheating the taxpayers then it would always be them.

The problems are much closer to home, get rid of this abomination now.

Not everything on an internet forum turns out to be 100% accurate ... shockarooney! :shocked:

[HIBERNIAN-0762]

Don't you just love the way that the STV news has glossed over all the lying and cheating this stinking morass of a football team has gotten away with.

Remarkable and I sincerely hope that if it happens to another Scottish team then fat boy and the media do the same as they have done with these cheats.

Then again it depends on how many funny handshakes are given and taken at a high level.

[HIBERNIAN-0762]

1579 pages of absolute crap spouted by supposed experts who were in direct contact with Lithuanians.

Annoyed but can't say I'm surprised. If there was ever a club who'd get away with cheating the taxpayers then it would always be them.

The problems are much closer to home, get rid of this abomination now.

:applause:

[southsider]

Don't you just love the way that the STV news has glossed over all the lying and cheating this stinking morass of a football team has gotten away with.

Remarkable and I sincerely hope that if it happens to another Scottish team then fat boy and the media do the same as they have done with these cheats.

Then again it depends on how many funny handshakes are given and taken at a high level.
Let them rot in hell for all i care now. Just let us win tomorrow.

[Sean1875]

Don't you just love the way that the STV news has glossed over all the lying and cheating this stinking morass of a football team has gotten away with.

Remarkable and I sincerely hope that if it happens to another Scottish team then fat boy and the media do the same as they have done with these cheats.

Then again it depends on how many funny handshakes are given and taken at a high level.

The media have been biased towards them from the start (without wanting to sound too Celtcish about that). Far too many people with short term memories of the years of effectively robbing local businesses, charities etc. all for football gain. The fact they're being made out to be the victims of big bad Vlad is cringeworthy.

[Carheenlea]

**** the Hearts.

[Pete]

1579 pages of absolute crap spouted by supposed experts who were in direct contact with Lithuanians.

Annoyed but can't say I'm surprised. If there was ever a club who'd get away with cheating the taxpayers then it would always be them.

The problems are much closer to home, get rid of this abomination now.

If this thread were to disappear then at least your constant petty digs at people who were only trying to help would also vanish.

Nobody has forced you to read it but you continued, putting the boot in whenever you could.

Why would you do that?

[Weststandwanab]

If this thread were to disappear then at least your constant petty digs at people who were only trying to help would also vanish.

Nobody has forced you to read it but you continued, putting the boot in whenever you could.

Why would you do that?

Excellent point.

[hibeesjoe]

This proves cheats win and also the moral high ground about a well run, self sustainable club is a load of tosh. Anybody that says there glad they support a club that's living within its means is crazy.

Spend a fortune, win the Scottish cup a couple of times plus totally dominate your neighbours for a few seasons all for the price of spending 1 or 2 seasons in the championship and write off all your debt? or ,watch a steady decline in your team for the last few years, maybe get relegated, win hee haw for a few years, regularly get pumped of your neighbours including 2 absolutely embarrassing scottish cup scorelines plus losing 4 times in the same season your neighbours play a bunch of kids and get relegated. I'm sure any neutrals probably wouldn't choose too be hibs fans.

[SloopJB]

This proves cheats win and also the moral high ground about a well run, self sustainable club is a load of tosh. Anybody that says there glad they support a club that's living within its means is crazy.

Spend a fortune, win the Scottish cup a couple of times plus totally dominate your neighbours for a few seasons all for the price of spending 1 or 2 seasons in the championship and write off all your debt? or ,watch a steady decline in your team for the last few years, maybe get relegated, win hee haw for a few years, regularly get pumped of your neighbours including 2 absolutely embarrassing scottish cup scorelines plus losing 4 times in the same season your neighbours play a bunch of kids and get relegated. I'm sure any neutrals probably wouldn't choose too be hibs fans.

Who cheated?

[hibeesjoe]

As mentioned many times on this thread, Hearts have cheated. Buying success with money they didn't have


Sent from my iPad using Tapatalk HD

[FranckSuzy]

Who gives a **** about them. This weekend is only about us not the cheats. They are down and are unlikely to be back for while so let's move on from that mob

:top marks

[greenpaper55]

The last time they went down they were there for two seasons, have faith in karma fellow Hibby's.

[boab1875]

1579 pages of absolute crap spouted by supposed experts who were in direct contact with Lithuanians.

Annoyed but can't say I'm surprised. If there was ever a club who'd get away with cheating the taxpayers then it would always be them.

The problems are much closer to home, get rid of this abomination now.

THIS 100%

The cheats ALWAYS get away with it and it came as no surprise when it was confirmed they are out of the woods unscathed. I predicted months ago they would get away with it only to be mocked by people allegedly in the know about the situation on here. Where are you now then? months and months of posting utter bollocks about frozen shares and what has it come to, absoltely f*** all. My problem is not with the bull**** information and lying that took place but it is with the very same people who mocked others when they were questioned. You should be ashamed of yourselves and i sincerely hope that my post is the last one on this thread.

Please take it down before it causes our great club any further embarrassment.

[Ronniekirk]

As mentioned many times on this thread, Hearts have cheated. Buying success with money they didn't have


Sent from my iPad using Tapatalk HD

We just have to face facts as unpalatable as they may be .No one else is giving a toss about them coming out of administration that's what's it's there for . In fact more people are talking about us and our predicament and loving it .
This will be my last post on this particular thread as whatever will be will be and they can now get on with sacking the manager . I will watch with interest how they manage and players they sign and if there is mention of them paying back anything to any creditors .
The demise of rangers and the fall out from that has IMO resulted in creating no appetite to clamp down the way they said they would on club finances as can be seen by all the un seemingly in fighting at Sevco ,let them both get on with it in the Championship The best thing we can now do is prove that thier second half capitulation to thistle was in vain as we went on to beat Killie and stay up they are desperate for us to go down as they realise how Mutch they will struggle without us in thier Wilderness Years

[Pete]

THIS 100%

The cheats ALWAYS get away with it and it came as no surprise when it was confirmed they are out of the woods unscathed. I predicted months ago they would get away with it only to be mocked by people allegedly in the know about the situation on here. Where are you now then? months and months of posting utter bollocks about frozen shares and what has it come to, absoltely f*** all. My problem is not with the bull**** information and lying that took place but it is with the very same people who mocked others when they were questioned. You should be ashamed of yourselves and i sincerely hope that my post is the last one on this thread.

Please take it down before it causes our great club any further embarrassment.

I agree with your highlighted sentence.

Sorry, my mistake. I thought you meant it would be the last post from yourself on this thread.

[GreenLake]

1579 pages of absolute crap spouted by supposed experts who were in direct contact with Lithuanians.

Annoyed but can't say I'm surprised. If there was ever a club who'd get away with cheating the taxpayers then it would always be them.

The problems are much closer to home, get rid of this abomination now.

What a dour little view you have.

This thread has been packed with lots of fun and laughter! :greengrin

[Jdawg]

1579 pages of absolute crap spouted by supposed experts who were in direct contact with Lithuanians.

Annoyed but can't say I'm surprised. If there was ever a club who'd get away with cheating the taxpayers then it would always be them.

The problems are much closer to home, get rid of this abomination now.

Correct. They have been very quiet recently, funny that. I posted some info from the partner (corporate insolvency) of the law firm I work for re: shares and was told by an 'expert' on here that said partner was incorrect haha. If they were only stating their opinion then fine.

A lot of people pandering to them too.

Majority of the thread has been a hoot though.

[GreenLake]

Correct. They have been very quiet recently, funny that. I posted some info from the partner (corporate insolvency) of the law firm I work for re: shares and was told by an 'expert' on here that said partner was incorrect haha. If they were only stating their opinion then fine.

A lot of people pandering to them too.

Majority of the thread has been a hoot though.

From sources on their side we know that right up until the last minute they were not getting the shares. They were as baffled as us and did that happen before or after that partner you pander to made his observations?. I think you missed the humor and banter which was rollocking all the way through this. Maybe when you bring the latte in for that partner the next time you can congratulate him for his greatness. :greengrin

[Jdawg]

From sources on their side we know that right up until the last minute they were not getting the shares. They were as baffled as us and did that happen before or after that partner you pander to made his observations?. I think you missed the humor and banter which was rollocking all the way through this. Maybe when you bring the latte in for that partner the next time you can congratulate him for his greatness. :greengrin before, my info was dismissed out of hand. I think the quote was "the partner in your firm is incorrect". I hope the experts on here are not I.P's haha.

Didn't miss the humour, loved coming in from work and catching up with 10 or so new pages on this thread.

[GreenLake]

before, my info was dismissed out of hand. I think the quote was "the partner in your firm is incorrect". I hope the experts on here are not I.P's haha.

Didn't miss the humour, loved coming in from work and catching up with 10 or so new pages on this thread.

A lot of stuff would get that treatment if it was favorable to their interests but what difference does it make if at the time it was useful banter ammunition? I think it is fair game to take the **** out of people who despise you and laugh at them.

I don't think anyone has a beef with the partner or you personally, but there were absolutely transparent and declared biased intentions seeking to interpret events in a way which cause trepidation and fear over there. It was our job to bait them and unsettle them. That is what we do as rivals isn't it? We have to leave them alone now and wait for them to efff themselves up. :wink:

Can't go to the game myself tomorrow, but I hope you have a good time seeing a big win for Hibs, and one that will be a big GIRFUY to the yams! :thumbsup:

[boab1875]

I agree with your highlighted sentence.

Sorry, my mistake. I thought you meant it would be the last post from yourself on this thread.

presumably you were one of the ones having a go at people who doubted theories that the cheats were inevitably going to be liquidated. Good predition by the way.

[Coco Bryce]

So, have they actually got the shares yet :confused:

[Mikey09]

So, have they actually got the shares yet :confused:


Been away way for a bit. Same question from me Coco... Have they got there hands on the shares?? Or are they still in the lith courts freezer???

[JeMeSouviens]

Been away way for a bit. Same question from me Coco... Have they got there hands on the shares?? Or are they still in the lith courts freezer???

No, they are still in administration but have completed a Sale and Purchase Agreement, hence why BDO have allowed Budgie in to start running the show. Just dotting 'i's and crossing 't's left to go. Nobody seems to know (or have asked, as per CWG) whether they need another Lithuanian court date to finalise.

A cheeky few weeks delay could see them miss the start of the season and get another -15 but other than that, seems it's all over.

[Mikey09]

No, they are still in administration but have completed a Sale and Purchase Agreement, hence why BDO have allowed Budgie in to start running the show. Just dotting 'i's and crossing 't's left to go. Nobody seems to know (or have asked, as per CWG) whether they need another Lithuanian court date to finalise.

A cheeky few weeks delay could see them miss the start of the season and get another -15 but other than that, seems it's all over.


Thanks, much appreciated. :aok:

[lapsedhibee]

A cheeky few weeks delay could see them miss the start of the season and get another -15 but other than that, seems it's all over.

Wonder if the possibility of another -15 is the reason that Mrs Budge has been talking down the prospects of getting back up to the Prem in a single season. Mibbe she doesn't expect to be out of admin very soon.

[Craig_in_Prague]

No, they are still in administration but have completed a Sale and Purchase Agreement, hence why BDO have allowed Budgie in to start running the show. Just dotting 'i's and crossing 't's left to go. Nobody seems to know (or have asked, as per CWG) whether they need another Lithuanian court date to finalise.

A cheeky few weeks delay could see them miss the start of the season and get another -15 but other than that, seems it's all over.

Court needs to approve, though I assume its a formality.

Delay will need to run till start of season for penalty, think it wont go to that, their the jammiest gits ever.

[greenginger]

Court needs to approve, though I assume its a formality.

Delay will need to run till start of season for penalty, think it wont go to that, their the jammiest gits ever.


Someone needs to tell the Judge that BDO rigged the CVA vote by allowing Ukio Bankas to vote as a non-connected creditor which they obviously were not.

BDO were appointees of the Court and should not just make the rules up as they want.

[Dashing Bob S]

This thread has been marvelous entertainment and I wouldn't have changed a word. Preferred outcome for me was always fan ownership and living within their means. Will lead to more frustration and bitterness, and far less unity than a Newco Hearts working through the divisions.

Budge has already moved to dampen Yam expectations, but it sends out a grim signal of failure. They no longer have patience in their DNA, even less than other football fans.

Her tight budgets will cause major discord within two or three months at the PBS.

[Keith_M]

Glad to see this thread back, despite its detractors.


On the point of when they come out of Admin, the situation at Dunfermline could be one to judge it by. AFAIK, it was about 3 months from an agreement being made until they were officially declared as leaving Admin.

It may not be that long in their case, who knows, but it does mean it's still not defnite that they'll avoid another 15 point penalty.

So, what we need now is for The Rangers to announce Administration, with the associated 25 points deduction, and we'll be favourites for the Championship next season :greengrin

[Jack]

Question?

When people are saying "Court needs to approve" is this a Lithuanian court releasing the shares or, a Scottish court approving the exit from administration or, both?

Or maybe even the Court of King Caracticus?

Sorry ;-( I'm just passing by ;-)

[ALF TUPPER]

Question?

When people are saying "Court needs to approve" is this a Lithuanian court releasing the shares or, a Scottish court approving the exit from administration or, both?

Or maybe even the Court of King Caracticus?

Sorry ;-( I'm just passing by ;-)



rofl@rolf

[sidjames]

This thread has been marvelous entertainment and I wouldn't have changed a word. Preferred outcome for me was always fan ownership and living within their means. Will lead to more frustration and bitterness, and far less unity than a Newco Hearts working through the divisions.

Budge has already moved to dampen Yam expectations, but it sends out a grim signal of failure. They no longer have patience in their DNA, even less than other football fans.

Her tight budgets will cause major discord within two or three months at the PBS.

A tight budget eh! Just in the door and she has a clothing allowance. Russian hats out ladies underwear in.

[Weststandwanab]

Question?

When people are saying "Court needs to approve" is this a Lithuanian court releasing the shares or, a Scottish court approving the exit from administration or, both?

Or maybe even the Court of King Caracticus?

Sorry ;-( I'm just passing by ;-)

At the risk of flack, both.

The Second will be straight forward when the papers are presented to The Court of Session in Edinburgh.

The first now it seems to have all gone quiet on that n tat is a prerequisite for the second.

[Mikey09]

At the risk of flack, both.

The Second will be straight forward when the papers are presented to The Court of Session in Edinburgh.

The first now it seems to have all gone quiet on that n tat is a prerequisite for the second.


So.... Have the lith courts released the shares or not??? What would be the reasons in not doing so?? :thumbsup:

[Weststandwanab]

So.... Have the lith courts released the shares or not??? What would be the reasons in not doing so?? :thumbsup: I do not know but would imagine if they had been released they would have been paraded online by F. O. H. and BDO would have filed papers at the court of session to exit Admin.

If the ownership of the shares are in dispute because of a criminal offence such as money laundering then they may be "evidence" and therefore still with the courts in lithland.

[Hibs07p]

Is the microwave on yet?

GGTTH

[Spike Mandela]

They've got over 2 months to tie up the loose ends before it becomes a real problem so wouldn't get too excited.



Edit: sure Bajillions mentioned that Vlad's arrest, then non arrest(convenient) seemed to unfreeze the shares.

[Weststandwanab]

They've got over 2 months to tie up the loose ends before it becomes a real problem so wouldn't get too excited.



Edit: sure Bajillions mentioned that Vlad's arrest, then non arrest(convenient) seemed to unfreeze the shares.Can you explain the "over two months" ? Please

[Eyrie]

Can you explain the "over two months" ? Please

Presumably a reference to the Yams facing a fifteen point penalty if they're still in administration at the start of next season.

[Weststandwanab]

Presumably a reference to the Yams facing a fifteen point penalty if they're still in administration at the start of next season.

Indeed you may be correct.

However no news from Lithlland and the longer that is the case ......

[EK_Hibs]

Indeed you may be correct.

However no news from Lithlland and the longer that is the case ......

Wait, let me guess.... 'the big L'...?
:rolleyes:

[Spike Mandela]

Presumably a reference to the Yams facing a fifteen point penalty if they're still in administration at the start of next season.

Correct. Whilst obviously the sooner the administration is over the sooner they can start signing players but I was just trying to explain the relative quiet and lack of urgency as they had two months before any further penalty kicked in.

[jacomo]

Wait, let me guess.... 'the big L'...?
:rolleyes:

Typical Diet Huns. Similar, but ultimately a smaller story in every way.

Craig 'leather document wallet' Levein has way more self-regard than talent, however. Budgie best keep him on a tight leash or he'll lead them back to ruin faster than Sally.

[Greenworld]

Glad to see this thread back, despite its detractors.


On the point of when they come out of Admin, the situation at Dunfermline could be one to judge it by. AFAIK, it was about 3 months from an agreement being made until they were officially declared as leaving Admin.

It may not be that long in their case, who knows, but it does mean it's still not defnite that they'll avoid another 15 point penalty.

So, what we need now is for The Rangers to announce Administration, with the associated 25 points deduction, and we'll be favourites for the Championship next season :greengrin

Its hibs we would still blow it

[StevieC]

Edit: sure Bajillions mentioned that Vlad's arrest, then non arrest(convenient) seemed to unfreeze the shares.

Was it not the case that he was arrested in Russia but they failed to secure extradition to Lithuania?

If that were the case then wouldn't he still be classed as "wanted for questioning" in Lithuania (in the eyes of the court)?

Not saying it makes any difference to the process for securing shares, just saying it didn't sound like he got off with anything.

[Keith_M]

Was it not the case that he was arrested in Russia but they failed to secure extradition to Lithuania?

If that were the case then wouldn't he still be classed as "wanted for questioning" in Lithuania (in the eyes of the court)?

Not saying it makes any difference to the process for securing shares, just saying it didn't sound like he got off with anything.


I think that pretty much sums it up, he's still a wanted man.


He had previously given up his Russian citizenship for his failed attempt to become a politician in Lithuania. That was a problem for him, as he could have been extradited from Russia, but he managed to convince a court that he had an application in progress to regain his Citizenship, meaning he couldn't be extradited. They fell for it.

[southern hibby]

Every day they are I'n admin is a day they cannot sign players unless they have permission from the SFA, to do so.
What I cannot understand is why have they not started selling season tickets yet. Also until they actually get the shares, how long is budge expected to go taking the chance of financing them with the possibility of no shares arriving. We have read that the money has been sent to lith for them, but has it? Let's be honest you really cannot believe anything that they say.

Not sure why but I have a gut instinct that this saga has a chapter or three left I'n it. GGTTH

[Famous Fiver]

Southern

I'm with you on this one. Plenty of twists and turns left yet but even if they escape further sanction we can enjoy Potter destroying them,.

Slow death or the big L. Tough one.

[greenginger]

I'm still out of the country and a bit short on info. but I would'nt think the lack of the Yam shares would stop Jackson trying to exit them from admin.

" There is an agreement in place for the shares to be purchased at an fixed price and the shares will be delivered as soon as some unfortunate details are sorted overseas M'Lud ". Please rubber stamp this piece of paper.

Jackson is a desparado, the legal rules of administration are there to be bent for his own ego's sake.

The whole admin. was a farce, a pittance for the secured creditor, £ 1 million in fees for BDO, nowt for the ordinary creditors and Yam hero status for Jackson.

[brog]

I'm still out of the country and a bit short on info. but I would'nt think the lack of the Yam shares would stop Jackson trying to exit them from admin.

" There is an agreement in place for the shares to be purchased at an fixed price and the shares will be delivered as soon as some unfortunate details are sorted overseas M'Lud ". Please rubber stamp this piece of paper.

Jackson is a desparado, the legal rules of administration are there to be bent for his own ego's sake.

The whole admin. was a farce, a pittance for the secured creditor, £ 1 million in fees for BDO, nowt for the ordinary creditors and Yam hero status for Jackson.

A pretty succinct summary GG. I remember posting months ago that the only thing certain in this whole desperate saga was that BDO were the only guaranteed winners. To somehow convince people that The UKIO Bankas Investment Group were not related to, em UKIO Bankas, was worthy of Comical Ali.

[Weststandwanab]

Every day they are I'n admin is a day they cannot sign players unless they have permission from the SFA, to do so.
What I cannot understand is why have they not started selling season tickets yet. Also until they actually get the shares, how long is budge expected to go taking the chance of financing them with the possibility of no shares arriving. We have read that the money has been sent to lith for them, but has it? Let's be honest you really cannot believe anything that they say.

Not sure why but I have a gut instinct that this saga has a chapter or three left I'n it. GGTTH I agree plenty more action in this gig.


Southern

I'm with you on this one. Plenty of twists and turns left yet but even if they escape further sanction we can enjoy Potter destroying them,.

Slow death or the big L. Tough one. Careful quoting the big L on here - unless you me Levien

[greenginger]

I see from Companies House web site Hearts have satisfied the floating charge held by Ukio bankas. ( 14/5/2014 )

Does that mean Budge has handed over the £ 2.5 million to the Liths ? What about BDO's fees ? , have they been calculated and deducted or will Jackson have to go cap in hand to the Ukio admin. and ask for his money ?

[GreenLake]

I see from Companies House web site Hearts have satisfied the floating charge held by Ukio bankas. ( 14/5/2014 )

Does that mean Budge has handed over the £ 2.5 million to the Liths ? What about BDO's fees ? , have they been calculated and deducted or will Jackson have to go cap in hand to the Ukio admin. and ask for his money ?

They owe it to themselves

[greenginger]

http://www.lrytas.lt/-13996397611398107558-hearts-parduotas-%C5%ABkio-banko-kreditoriams-milijonai.htm


Don't know if this has been posted ,but its a report on the sale of the Ukio Bankas interests in Hearts.

The Ukio admin says they got £ 2.4 million less " administative expenses " of £ 325,000, net £ 2.075 million.

Presume the extra £ 100,00 has been kept back for the UBIG shares.

BDO only getting £ 325,000 ? poor return by their standard .

[eggbamyasi]

Why are they still in admin ? Should they not be out by now ? And what is stopping them doing so ? And why is there no media coverage of the fact there still in admin ? Mildly confused as to reason , anyone shed any light on it please

Sent from my GT-I9300 using Tapatalk

[Oscar T Grouch]

Why are they still in admin ? Should they not be out by now ? And what is stopping them doing so ? And why is there no media coverage of the fact there still in admin ? Mildly confused as to reason , anyone shed any light on it please

Sent from my GT-I9300 using Tapatalk

Pretty sure it took 3 months for Dumfy to exit admin after everything was settled. Just a matter of time, tying up loose ends and the such.

[Coco Bryce]

http://www.lrytas.lt/-13996397611398107558-hearts-parduotas-%C5%ABkio-banko-kreditoriams-milijonai.htm


Don't know if this has been posted ,but its a report on the sale of the Ukio Bankas interests in Hearts.

The Ukio admin says they got £ 2.4 million less " administative expenses " of £ 325,000, net £ 2.075 million.

Presume the extra £ 100,00 has been kept back for the UBIG shares.

BDO only getting £ 325,000 ? poor return by their standard .

Yams have even stitched them up :greengrin

[greenginger]

Why are they still in admin ? Should they not be out by now ? And what is stopping them doing so ? And why is there no media coverage of the fact there still in admin ? Mildly confused as to reason , anyone shed any light on it please

Sent from my GT-I9300 using Tapatalk


I think it will be the UBIG shares they are waiting on, but they must be pretty confident or Budge will be peeved.

[Gmack7]

Any reason why season tickets aren't on sale yet? as I'm sure they sold 3000 in admin last season after the begging bowl was passed around

[calumhibee1]

Pretty sure it took 3 months for Dumfy to exit admin after everything was settled. Just a matter of time, tying up loose ends and the such. If that's the case, it won't be far off being the start of next season before they're out of admin. I presume while in admin they've still got a transfer ban, and if they were to start the next season having not exited admin, would they then be in a position where they should be docked points again?

[CropleyWasGod]

Any reason why season tickets aren't on sale yet? as I'm sure they sold 3000 in admin last season after the begging bowl was passed around

They probably won't until they are out of admin.

[CropleyWasGod]

If that's the case, it won't be far off being the start of next season before they're out of admin. I presume while in admin they've still got a transfer ban, and if they were to start the next season having not exited admin, would they then be in a position where they should be docked points again?

Yup and yup.

[Ozyhibby]

The longer they wait before selling season tickets, the less they will sell. People will find other uses for the cash over the summer and they have no payment plan option.

[calumhibee1]

If that's the case, it won't be far off being the start of next season before they're out of admin. I presume while in admin they've still got a transfer ban, and if they were to start the next season having not exited admin, would they then be in a position where they should be docked points again?

Yup and yup.

That would be hilarious.

[Weststandwanab]

I think it will be the UBIG shares they are waiting on, but they must be pretty confident or Budge will be peeved.

Waiting on shares well I never.


Any reason why season tickets aren't on sale yet? as I'm sure they sold 3000 in admin last season after the begging bowl was passed aroundThe difference last year was that season tickets were o sale when they went into Administration so BJ just kept selling them and said they needed another 3,000 sold to survive that summer.



If that's the case, it won't be far off being the start of next season before they're out of admin. I presume while in admin they've still got a transfer ban, and if they were to start the next season having not exited admin, would they then be in a position where they should be docked points again?

Whilst in Administration they cannot register any players so if they are not out of Administration by late June they are going to be ..... strugglin

[greenginger]

[QUOTE=Weststandwanab;4021982]Waiting on shares well I never.




Now that Budge has clear off the Ukio Bankas floating charge on the Yam assets would it not be hilarious if Vlad's niece turns up with a document showing the 49.47% shares had been transferred to her Quantum Holdings Group just before the assets were frozen.

And, she wants substantially more than the £ 100,000 UBIG were prepared to accept. :greengrin

[Weststandwanab]

[QUOTE=Weststandwanab;4021982]Waiting on shares well I never.




Now that Budge has clear off the Ukio Bankas floating charge on the Yam assets would it not be hilarious if Vlad's niece turns up with a document showing the 49.47% shares had been transferred to her Quantum Holdings Group just before the assets were frozen.

And, she wants substantially more than the £ 100,000 UBIG were prepared to accept. :greengrin

Now that would be funny !

Chances are if the charge has been been satisfied that the shares will be delivered but there is just a chance there may be a hiccup.

[Alfred E Newman]

I would not be surprised if they are waiting till Monday to keep us of the back page.

[Keith_M]

Does anyone know categorically if Hearts are not allowed to sign players while still in Administration?

I've read people say it a few times but would like to know for definite one way or the other.

A reference to the specific rule would be nice, instead of the usual speculation and 'trust me, I know what I'm talking about' :wink:

[wazoo1875]

Does anyone know categorically if Hearts are not allowed to sign players while still in Administration?

I've read people say it a few times but would like to know for definite one way or the other.

A reference to the specific rule would be nice, instead of the usual speculation and 'trust me, I know what I'm talking about' :wink:

It's no exactly what you're looking for but I'm almost certain that they can sign anyone they like(within reason) but they can't register them with spfl.

[CropleyWasGod]

It's no exactly what you're looking for but I'm almost certain that they can sign anyone they like(within reason) but they can't register them with spfl.

In essence, there is no difference.

If they "sign" (ie employ) players, they have to pay them. They don't have the money to do that whilst they are in admin. And why would they employ players when they're not playing them?

They definitely can't register them, which means they can't play them.

[wazoo1875]

In essence, there is no difference.

If they "sign" (ie employ) players, they have to pay them. They don't have the money to do that whilst they are in admin. And why would they employ players when they're not playing them?

They definitely can't register them, which means they can't play them.

Aye true enough!! But it's hearts we're talking about here ;-D

[Mathias Jack]

Does anyone know categorically if Hearts are not allowed to sign players while still in Administration?

I've read people say it a few times but would like to know for definite one way or the other.

A reference to the specific rule would be nice, instead of the usual speculation and 'trust me, I know what I'm talking about' :wink:

http://spfl.co.uk/docs/067_324__therulesofthespfl_1375800603.pdf

Here it is, the SPFL rule book straight from the horses mouth!

[CropleyWasGod]

http://spfl.co.uk/docs/067_324__therulesofthespfl_1375800603.pdf

Here it is, the SPFL rule book straight from the horses mouth!

where a Club has taken, suffered or has been subject to an Insolvency Event or Events or a Group Undertaking of a Club has taken, suffered or has been subject to an Insolvency Event or Events and the Board has determined that Rule E6 shall apply, that Club shall not be entitled or permitted to register any Player with the League and the League shall not register such a Player until the Board is satisfied that such Insolvency Event or events shall no longer continue or subsist

[Hibby70]

Have the got the ability to accept credit/debit card payments yet?

[linlithgowhibbie]

Have the got the ability to accept credit/debit card payments yet?


No:tbgwa:

[Leithenhibby]

where a Club has taken, suffered or has been subject to an Insolvency Event or Events or a Group Undertaking of a Club has taken, suffered or has been subject to an Insolvency Event or Events and the Board has determined that Rule E6 shall apply, that Club shall not be entitled or permitted to register any Player with the League and the League shall not register such a Player until the Board is satisfied that such Insolvency Event or events shall no longer continue or subsist

So, they could sign, but can't register them? Is that how it may pan out.....

[CropleyWasGod]

So, they could sign, but can't register them? Is that how it may pan out.....

But why would they?

If they sign them, they would have to pay them, at a time when they don't have the cash to pay them, and when there's no income.

The likelihood is that they will do a Sevco, and get players lined up on promises.... to be signed and registered the moment they are allowed to.

[Hibby70]

We've got print at home whilst they'll have jam jar exchange and raffle ticket stubs.

[Keith_M]

http://spfl.co.uk/docs/067_324__therulesofthespfl_1375800603.pdf

Here it is, the SPFL rule book straight from the horses mouth!


where a Club has taken, suffered or has been subject to an Insolvency Event or Events or a Group Undertaking of a Club has taken, suffered or has been subject to an Insolvency Event or Events and the Board has determined that Rule E6 shall apply, that Club shall not be entitled or permitted to register any Player with the League and the League shall not register such a Player until the Board is satisfied that such Insolvency Event or events shall no longer continue or subsist


Thanks Guys


:thumbsup:

[greenginger]

A few new documents posted on Companies House web site.

HOMFC ( in Administration ) granting Standard Security over everything at the PBS to Budge's Bidco and a Floating Charge in favour of Foundation of Hearts.

The documents describe Heart of Midlothian plc ( in administration ) as " the borrower ".

What happened to the bit about companies in administration being unable to create new creditors ?

Is Jackson playing fast and loose with the rules again ?

[Leithenhibby]

But why would they?

If they sign them, they would have to pay them, at a time when they don't have the cash to pay them, and when there's no income.

The likelihood is that they will do a Sevco, and get players lined up on promises.... to be signed and registered the moment they are allowed to.

:agree:

It could be done though, IF, they find the money :na na:

[CropleyWasGod]

A few new documents posted on Companies House web site.

HOMFC ( in Administration ) granting Standard Security over everything at the PBS to Budge's Bidco and a Floating Charge in favour of Foundation of Hearts.

The documents describe Heart of Midlothian plc ( in administration ) as " the borrower ".

What happened to the bit about companies in administration being unable to create new creditors ?

Is Jackson playing fast and loose with the rules again ?



As I understand it, the loan will be drawn down once they are out of admin.

[greenginger]

As I understand it, the loan will be drawn down once they are out of admin.


Then the loan will be from HOMFC not HOMFC ( in administration ) so there was not much point in recording the FoH floating charge if its not going to be used.

Fair enough Budge's security ,she has paid off the Ukio Bankas security and is entitled to some security of her own.

Looking at the FoH MR01 Form recording their floating charge, it has not been signed by anyone from the Foundation, just a blank box and the Solicitor's cross indicating where it should have been signed.

Could be some fun if the Foundation ever take control. :greengrin

[HibeesLA]

where a Club has taken, suffered or has been subject to an Insolvency Event or Events or a Group Undertaking of a Club has taken, suffered or has been subject to an Insolvency Event or Events and the Board has determined that Rule E6 shall apply, that Club shall not be entitled or permitted to register any Player with the League and the League shall not register such a Player until the Board is satisfied that such Insolvency Event or events shall no longer continue or subsist

Although the originally highlighted portion does state that the 'league shall not register such a player', the next part is the most important to me - 'until the Board is satisfied that such Insolvency Event or events shall no longer continue or subsist". To me that means that it is the Board of the SPFL's interpretation that counts, not necessarily the legal status of the entity. HOMFC could have shown enough proof to the Board that they will exit Administration that the Board are satisfied enough to allow registration to take place.

[RIP Bestie]

Although the originally highlighted portion does state that the 'league shall not register such a player', the next part is the most important to me - 'until the Board is satisfied that such Insolvency Event or events shall no longer continue or subsist". To me that means that it is the Board of the SPFL's interpretation that counts, not necessarily the legal status of the entity. HOMFC could have shown enough proof to the Board that they will exit Administration that the Board are satisfied enough to allow registration to take place.
That's the way I see it too, although I'm surprised they haven't made the marquee signings their dans are expecting up until now if that's the case. I would have imagined that they would gave wanted to counter all the bad news regarding Locke and the senior players with something positive at the earliest opportunity.

[Geo_1875]

That's the way I see it too, although I'm surprised they haven't made the marquee signings their dans are expecting up until now if that's the case. I would have imagined that they would gave wanted to counter all the bad news regarding Locke and the senior players with something positive at the earliest opportunity.

But they've got Stevie Crawford. Surely that'll keep them happy.

[Ronniekirk]

That's the way I see it too, although I'm surprised they haven't made the marquee signings their dans are expecting up until now if that's the case. I would have imagined that they would gave wanted to counter all the bad news regarding Locke and the senior players with something positive at the earliest opportunity.

The deals could all be in place and paperwork just waiting to be rubber stamped .it will be in one of those memorandums of understanding ,and it seems to me people have been very understanding when it comes to hear7s situation .yet very quick to rubbish us and expose our failings .
They do appear not to be making announcements now for the sake of it ,they wait until something is done and dusted and then announce it so maybe now budge is in control she wants it that way

[Caversham Green]

Does anyone know categorically if Hearts are not allowed to sign players while still in Administration?

I've read people say it a few times but would like to know for definite one way or the other.

A reference to the specific rule would be nice, instead of the usual speculation and 'trust me, I know what I'm talking about' :wink:

Re this and the subsequent posts, do they not have the 'one out one in' concession which, with their usual sense of entitlement, they took to be an absolute right in January? They've binned a whole bunch of players, so surely they could invoke that to sign new ones.

Either they've downsized and want to avoid promotion next season or they'll announce new signings in a lump to promote ST sales.

[lord bunberry]

But they've got Stevie Crawford. Surely that'll keep them happy.

I've got a hibs top from when I was younger with crawford on the back, I will performing a ceremonial burning later today.

[Phil D. Rolls]

I've got a hibs top from when I was younger with crawford on the back, I will performing a ceremonial burning later today.

Surprised its taken you this long. :greengrin

[greenpaper55]

Barry saying they want Gomis http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-hold-talks-with-gomis-and-mcgregor-1-3421549

but where are the world cup stars ?.

[s2hart]

Barry saying they want Gomis http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-hold-talks-with-gomis-and-mcgregor-1-3421549

but where are the world cup stars ?.

At the World Cup :dunno: :greengrin

[surreyhibbie]

At the World Cup :dunno: :greengrin

That'll be it then... Waiting to see who shines so they can move in and cherry pick

Who could refuse the lure of joining such a famous club?

:greengrin

[s2hart]

That'll be it then... Waiting to see who shines so they can move in and cherry pick

Who could refuse the lure of joining such a famous club?

:greengrin

Aye, some of these South Americans think they are coming to play Champions League football, instead it's the Championship, a bit of a translation mix up :greengrin

[CropleyWasGod]

Re this and the subsequent posts, do they not have the 'one out one in' concession which, with their usual sense of entitlement, they took to be an absolute right in January? They've binned a whole bunch of players, so surely they could invoke that to sign new ones.

Either they've downsized and want to avoid promotion next season or they'll announce new signings in a lump to promote ST sales.

This is the rule you mean:-

Where the term of a Player’s contract of service with his Club has expired and
such contract has not been renewed or extended or such a contract has
terminated with the mutual consent in writing of the Club and the Player
concerned and, in either case, the Registration of such Player with the
League in terms of the player Registration, Transfer and Contract
Regulations has been cancelled and a replacement Player is sought to be
registered to replace the Player whose contract has so expired or been
terminated;

[Jack Hackett]

The first anniversary of their shame looms. When was it...June 17th, 19th? Maybe we could organize a reminder of all the organizations, businesses and individuals they've stiffed to accomplish the assumed 'Free of debt' status they are celebrating. Something along the lines of the 'Hector' avatar on the thread to celebrate their special day

[CropleyWasGod]

The first anniversary of their shame looms. When was it...June 17th, 19th? Maybe we could organize a reminder of all the organizations, businesses and individuals they've stiffed to accomplish the assumed 'Free of debt' status they are celebrating. Something along the lines of the 'Hector' avatar on the thread to celebrate their special day

To be fair, on JKB they are acknowledging that they won't be debt-free.

[Jack]

Re this and the subsequent posts, do they not have the 'one out one in' concession which, with their usual sense of entitlement, they took to be an absolute right in January? They've binned a whole bunch of players, so surely they could invoke that to sign new ones.

Either they've downsized and want to avoid promotion next season or they'll announce new signings in a lump to promote ST sales.

They may do but remember the trouble they had around January claiming players they told to bolt last summer could count as one out one in only to be told that's not quite the way it works.

Maybe someone remembers the detail?

[Keith_M]

..... they'll announce new signings in a lump to promote ST sales.


So Nade IS returning after all?



:greengrin

[brog]

The first anniversary of their shame looms. When was it...June 17th, 19th? Maybe we could organize a reminder of all the organizations, businesses and individuals they've stiffed to accomplish the assumed 'Free of debt' status they are celebrating. Something along the lines of the 'Hector' avatar on the thread to celebrate their special day

June 18, fittingly the anniversary of Waterloo! The Yams probably won that war as well.:wink:

[monktonharp]

Barry saying they want Gomis http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-hold-talks-with-gomis-and-mcgregor-1-3421549

. to be fair, I think those are the type of players we should expect for next season. not sure about the goalie, but he has played in internationals

[southern hibby]

Says I'n article Gomis brought to Dundee Utd by Levein.
This has Levein's appointment written all over it and nothing to do with their new yes man(ager).
GGTTH

[lapsedhibee]

That'll be it then... Waiting to see who shines so they can move in and cherry pick

Who could refuse the lure of joining such a famous club?

:greengrin

At last it becomes clear why Yaya's not committing himself to Manchester C or anyone else until after the Worldcup.

[nribs]

Says I'n article Gomis brought to Dundee Utd by Levein.
This has Levein's appointment written all over it and nothing to do with their new yes man(ager).
GGTTH

Said as much earlier today. Hearts have another puppet manager.

[greenginger]

I think it was the Levin reign at Tannadice that just about bankrupted the Thomson family.


Better watch your pennies Mrs Budge ! :greengrin

[Peevemor]

I think it was the Levin reign at Tannadice that just about bankrupted the Thomson family.


Better watch your pennies Mrs Budge ! :greengrin

As I posted when he was appointed, Levein's only been "successful" when he's spent outwith his clubs' means.

[Ozyhibby]

At last it becomes clear why Yaya's not committing himself to Manchester C or anyone else until after the Worldcup.

I saw Budge in Clintons cards the other day.

[EK_Hibs]

Seen this today, Just incase anyone's interested:

http://www.dailyrecord.co.uk/business/business-news/former-hearts-fc-owner-vladimir-4024044