Share Transfers Agreed/Cooling off period

[rcarter1]

Hmmm. Endgame approaches perhaps? I wont be surprised if the Yams get their big debt cleared. But with Tynie they have a dead weight, and if they move it wont be ideal for them.

[bingo70]

Coincidence this story gets leaked on day Vlad is due to attend his first game in months?

[Bostonhibby]

BBCBMcLauchlin‏@BBCBMcLauchlinTalks are at an advanced stage between Supporters Direct and Vladimir Romanov over a transfer of ownership of Hearts.

BBCBMcLauchlin‏@BBCBMcLauchlin
A deal between Supporters Direct and Romaov could be concluded for the start of the new season

BBCBMcLauchlin‏@BBCBMcLauchlin
Foundation of Hearts also having "constructive dialogue" with Supporters Direct and could work together in deal.

Very poor reporting, not so much that research hasn't been done, a short term memory would be enough to confirm that Vlad is not in hte game any more! maybe the BBC even reported how it came about! The other organisations don't ahve a pot to piss in unless they have a friendly bank or other lender!

[Bostonhibby]

Hmmm. Endgame approaches perhaps? I wont be surprised if the Yams get their big debt cleared. But with Tynie they have a dead weight, and if they move it wont be ideal for them.

There's been a million potential end games and I have been wrong before but I am starting to think that in the absence of someone wealthy wanting to spend a fortune on them as a plaything the end game will arrive very quickly after the Cup final cash is in the relevant bank account, I do not see it reaching any creditors or paying any real debts to the mugs that haven't sued for their money.

This is the last big chunk of cash for a while and it will be hoovered up to make a small dent in the toxic debt pile by the people who are managing it now in Lithuania.

There are very few weeks coming up now where income exceeds expenditure/liabilities and their remit can't be to subsidise a loss making entity or prop up an owners ego by writing off any more debt or providing any new money. Evidence of this was the recent managerial appointment - nothing more than cutting out the cost of McGlynn from the projected liabilities and covering it with a cheaper version that was already on the books and dealt with the problem short term - as short as till after the Cup final is the question?

[truehibernian]

Very poor reporting, not so much that research hasn't been done, a short term memory would be enough to confirm that Vlad is not in hte game any more! maybe the BBC even reported how it came about! The other organisations don't ahve a pot to piss in unless they have a friendly bank or other lender!

Are you surprised - it is tweeted by a Hearts supporting 'journalist' after all. Big Brian needs to lay off the haribo, he's clearly sugar rushing - Hearts are going to the wall and he's not got the guts to really investigate it.

[Bostonhibby]

Are you surprised - it is tweeted by a Hearts supporting 'journalist' after all. Big Brian needs to lay off the haribo, he's clearly sugar rushing - Hearts are going to the wall and he's not got the guts to really investigate it.

:greengrin Maybe Big Brian is actually Wee Shaun Lawsons stage name!

[The Falcon]

BBCBMcLauchlin‏@BBCBMcLauchlin
A deal between Supporters Direct and Romaov could be concluded for the start of the new season


Hardly anything imminent then.............:confused:

[Gus Fring]

This strikes me as just a well timed "leak" to placate the potential angry masses before they get humped by St Mirren in the wee cup. Vlad isn't in a position to make these decisions now. Even if the new board at UBIG do decide to forgive the debt and give hearts away to the fans on Vlad's orders (why would they?) then that doesn't do anything about the Bus Shelter.

Vlad's just buying himself some time here. That is, of course, if he's even involved in any of this at all. It looks and sounds to me like it's just been plucked out of thin air.

[pontius pilate]

This is the leak for the masses not to turn on the team after the **** get walloped to-day. I did mention in previous posts this week that F.O.H allegedly had a meeting planned with the Scandinavian lot but the scandies pulled the plug. I also mentioned that the **** hordes believe they will escape debt free as clad will clear this IF they win to-day. I think after next week when they lose to-day and their league game the plug will be pulled and admin beckons.

[TheReg!]

Am I right in thinking that even if Vlad sells his shares in the club the debt will remain? I thought the debt is now with another party as his bank has went bust?

[Treadstone]

BBCBMcLauchlin‏@BBCBMcLauchlin
A deal between Supporters Direct and Romaov could be concluded for the start of the new season




Hardly anything imminent then.............:confused:

Aye mind and cover yersel Brian just in case you have been fed a lot of garbage.:lips seal

[Gus Fring]

Am I right in thinking that even if Vlad sells his shares in the club the debt will remain? I thought the debt is now with another party as his bank has went bust?

The debt is with UBIG, Vlad is no longer on the board there so isn't in a position to make direct decisions on what happens with it.

Tynecastle was "owned" by Ukio Bankas and will be dealt with by the administrator.

[Leithenhibby]

The debt is with UBIG, Vlad is no longer on the board there so isn't in a position to make direct decisions on what happens with it.

Tynecastle was "owned" by Ukio Bankas and will be dealt with by the administrator.




"representatives of Vladimir Romanov" Are in advanced talks!..

Could this be the administrator? It won't be anything to do with him though, surely :confused:

[CropleyWasGod]

Am I right in thinking that even if Vlad sells his shares in the club the debt will remain? I thought the debt is now with another party as his bank has went bust?

Vlad doesn't own the shares. UBIG do.

[jonty]

Vlad doesn't own the shares. UBIG do.
So given that he no longer runs ubig, he can't actually be selling hearts.

It's a shame he wasted his hard earned cash flying in to watch the club he previously owned get turned over. He can't pick the team any more. What else does he expect? :greengrin

[CropleyWasGod]

So given that he no longer runs ubig, he can't actually be selling hearts.

It's a shame he wasted his hard earned cash flying in to watch the club he previously owned get turned over. He can't pick the team any more. What else does he expect? :greengrin

He could, conceivably, be authorised by the UBIG Board to negotiate with a potential buyer. After all, he has a better knowledge of the issues than the new Board.

However, given the suspicions about his dealings, I would be surprised if that's the case.

[Seveno]

He could, conceivably, be authorised by the UBIG Board to negotiate with a potential buyer. After all, he has a better knowledge of the issues than the new Board.

However, given the suspicions about his dealings, I would be surprised if that's the case.

Does UBIG have a new Board yet ?

[s.a.m]

He could, conceivably, be authorised by the UBIG Board to negotiate with a potential buyer. After all, he has a better knowledge of the issues than the new Board.

However, given the suspicions about his dealings, I would be surprised if that's the case.

If he was to off-load them (and their debt obligations, and their stadium), would the Lithuanian authorities (or whoever is charged with pursuing funds for UKIO depositers) not take a dim view of the fact he's given away a potential source of revenue? I know UBIG aren't done yet, but presumably the Liths have their eye on their comings and goings?

[CropleyWasGod]

Does UBIG have a new Board yet ?

I presume so. If Lith law is the same as UK law in that respect, they need to have at least 1 director at any one time.

[CropleyWasGod]

If he was to off-load them (and their debt obligations, and their stadium), would the Lithuanian authorities (or whoever is charged with pursuing funds for UKIO depositers) not take a dim view of the fact he's given away a potential source of revenue? I know UBIG aren't done yet, but presumably the Liths have their eye on their comings and goings?

If he is acting on behalf of the UBIG Board, he may also have been authorised to do so by the UKIO administrator.

All for a "registration fee" of course.

[s.a.m]

If he is acting on behalf of the UBIG Board, he may also have been authorised to do so by the UKIO administrator.

All for a "registration fee" of course.

What's that?

[Jack Hackett]

I have no doubt whatsoever this is all just more wind and piss from whatever 'source' was instructed to give the media a positive story before the final. Terms used like 'due diligence' and 'before the start of next season' just make me crease up :faf:

Are the 'share' certificates still 'in the post' btw?

[Jack Hackett]

What's that?

Otherwise known as a 'Backhander' or 'Kickback'....at least where vlad is concerned

[CropleyWasGod]

What's that?

Sorry, I was being facetious. There has often been talk of HMFC paying Vlad registration fees for some of the Lith and other foreign-based players.

However, if he is fulfilling the role that we are talking about (and, as I say, I would be very surprised if he is), he would be entitled to be paid for it.

[s.a.m]

Sorry, I was being facetious. There has often been talk of HMFC paying Vlad registration fees for some of the Lith and other foreign-based players.

:greengrin

[Bishop Hibee]

The 'share' word seems to have disappeared from the Yam vocabulary. The money fans paid out was apparently to keep the club going with nothing expected in return. More fiction than the local library.

[Seveno]

I presume so. If Lith law is the same as UK law in that respect, they need to have at least 1 director at any one time.

So that's a 'Dinnae ken' then ?

[Devonhibs]

Clearly aimed/timed to increase season ticket renewals. Keep the yams thinking there's light at the end of the tunnel with this crock!

[Wee Scottie Dug]

I presume so. If Lith law is the same as UK law in that respect, they need to have at least 1 director at any one time.

Here is the original news bulletin fom 4/3 ........ Doesn't look like they were in too much of a rush to get things in motion . . .

"The entire board of directors of Ukio Banko Investicine Grupe, a Lithuanian company that owns Scotland’s Heart of Midlothian soccer club, resigned last week, Baltic News Service reported.
Vladimir Romanov, who was majority owner of lender Ukio Bankas (UKB1L) AB, which Lithuania’s central bank declared insolvent last month, resigned as chairman of the board of UBIG on Feb. 27, the newswire said, citing the company registry in Vilnius.
Hearts’ Director Sergejus Fedotovas also resigned from the board of UBIG, as did Rita Matuziene, BNS reported.
A new board will be elected at the next meeting of shareholders of UBIG, the date for which hasn’t been fixed, according to Matuziene, who said she remains in her post as chief executive officer at UBIG, according to BNS.
To contact the reporter on this story: Bryan Bradley in Vilnius at [email protected]
To contact the editor responsible for this story: Balazs Penz at [email protected]"

Of course big companies like UBIG maybe don't need a board of directors to keep such a huge profit making business going :greengrin

[CropleyWasGod]

Here is the original news bulletin fom 4/3 ........ Doesn't look like they were in too much of a rush to get things in motion . . .

"The entire board of directors of Ukio Banko Investicine Grupe, a Lithuanian company that owns Scotland’s Heart of Midlothian soccer club, resigned last week, Baltic News Service reported.
Vladimir Romanov, who was majority owner of lender Ukio Bankas (UKB1L) AB, which Lithuania’s central bank declared insolvent last month, resigned as chairman of the board of UBIG on Feb. 27, the newswire said, citing the company registry in Vilnius.
Hearts’ Director Sergejus Fedotovas also resigned from the board of UBIG, as did Rita Matuziene, BNS reported.
A new board will be elected at the next meeting of shareholders of UBIG, the date for which hasn’t been fixed, according to Matuziene, who said she remains in her post as chief executive officer at UBIG, according to BNS.
To contact the reporter on this story: Bryan Bradley in Vilnius at [email protected]
To contact the editor responsible for this story: Balazs Penz at [email protected]"

Of course big companies like UBIG maybe don't need a board of directors to keep such a huge profit making business going :greengrin

I am guessing that either (a) Lith and UK law are different or that (b) the resignations aren't ratified until the shareholders' meeting. The latter is common in UK law... directors can be "co-opted" in between shareholders' meetings but they aren't actually "elected" until then.

[Seveno]

I am guessing that either (a) Lith and UK law are different or that (b) the resignations aren't ratified until the shareholders' meeting. The latter is common in UK law... directors can be "co-opted" in between shareholders' meetings but they aren't actually "elected" until then.

What makes you think that UBIG are doing anything according to Lithuanian, UK or Trumpton law ?

A classic case of repentance when death is nigh, perhaps ?

[CropleyWasGod]

What makes you think that UBIG are doing anything according to Lithuanian, UK or Trumpton law ?

A classic case of repentance when death is nigh, perhaps ?

:greengrin

More a case of "let's head for the hills, boys, and don't forget to take the safe..."

[Wee Scottie Dug]

What makes you think that UBIG are doing anything according to Lithuanian, UK or Trumpton law ?

A classic case of repentance when death is nigh, perhaps ?

IMHO UBIG is just a front for all the shady dealings that the mad one does, it seems to have shareholders but no sign of a share price listed anywhere ! It's web page is so amateur it makes me laugh, and it appears to have started life as the mad ones private investment group. I had hoped to see this in administration by now but it appears that no external pressures are being applied to this rudderless company! Tick tock tick tock ...... :cb

[JCHibby]

So Vlad is in talks to sell his share holding back to the supporters, so this should work as follows:

Vlad : I want x million
Clowns : we will give you Y million
Vlad: Deal, PS you have three weeks to pay 28 million back, oh aye and HMRC might be in touch. Cheers

[Sergey]

Off topic - but did Vlad attend today's Cup Final?

They were rumoured to be belting out the old Vladimir Romanov ditty.

[hibee_girl]

Off topic - but did Vlad attend today's Cup Final?

They were rumoured to be belting out the old Vladimir Romanov ditty.

He was there :agree:

[green glory]

He was there :agree:

Would be interesting to see any pics of him there. See what kind of mental/physical state he's in.

Just concerned for his welfare after all he's doing for us.

[hibsbollah]

What is the league cup prize money they failed to win today?

[nonshinyfinish]

Would be interesting to see any pics of him there. See what kind of mental/physical state he's in.

Just concerned for his welfare after all he's doing for us.

He was only there because City Cabs told him there'd be 25,000 glum chumps looking for a ride back to Queen St.

[Willis1875]

Would be interesting to see any pics of him there. See what kind of mental/physical state he's in.

Just concerned for his welfare after all he's doing for us.

Looking a bit portly!!

[nonshinyfinish]

Would be interesting to see any pics of him there. See what kind of mental/physical state he's in.

Just concerned for his welfare after all he's doing for us.

He was only there because City Cabs told him there'd be 25,000 glum chumps looking for a ride to Queen St at ten to five.

[macca70]

Off topic - but did Vlad attend today's Cup Final?

They were rumoured to be belting out the old Vladimir Romanov ditty.

Yeah, BBC zoomed in on him sitting in the Stand.

[Peevemor]

Yeah, BBC zoomed in on him sitting in the Stand.

The commentator spoke about how "colourful" a character he is and how hearts have won 2 Scottish cups since his arrival. However, no mention of losses roughly equal to their turnover in the same period!

[HONG KONG PHOOEY]

Now if we finish in the top six they are Donald ducked. Beat Inverness at home and we should be there

[Jack Hackett]

Looking a bit portly!!


Looks like he's been nicking all the cakes as well as the cash

[Bostonhibby]

Looking a bit portly!!

Probably a body double, they used to do it all the time in Stalin's day. The real Vlad was over to sort out Fatty Foulkes for getting him into this mess in the first place. By the time the game finished they were already half way over the North sea in his Bathysphere.

[Greentinted]

Now there's a rogues gallery. One dodgy bad start dipping another one's pockets...nae broon envelopes droppin' through the Provost's mail box this year eh no?

http://www.hibs.net/attachment.php?attachmentid=9506&d=1363552055

[SmashinGlass]

I thought vlad was totally broke just weeks ago, down to the cash he had in his pocket. Either he had a load of cash in his pocket or he was speaking out his erse. I know which one I believe...

[robinp]

Looking a bit portly!!

Appears to be dating Steven Fry in drag going by that photo.

[#FromTheCapital]

Would be interesting to see any pics of him there. See what kind of mental/physical state he's in.

Just concerned for his welfare after all he's doing for us.

Looking a bit rough in this picture taken before the game today.

Would've hated to see a pic of him after the game

[Willis1875]

Appears to be dating Steven Fry in drag going by that photo.

That's not Stephen Fry in drag,that's just Stephen Fry in his everyday attire.

[Baldy Foghorn]

Yeah, BBC zoomed in on him sitting in the Stand.

He has some balls for attending, I'll give him that.... How did the moronic masses react, did they all hail their hero??

How fitting if that was his last match.....A perfect ending to his charade....

[Bleeds green]

Have they been paid this month yet??

[Kato]

I thought vlad was totally broke just weeks ago, down to the cash he had in his pocket. Either he had a load of cash in his pocket or he was speaking out his erse. I know which one I believe...



All his expenses, cabs included, will go through Hearts books.

[SmashinGlass]

All his expenses, cabs included, will go through Hearts books.

Ha! In other words, his trip is on tick and those who will ultimately finance it will be the creditors of Hmfc/ubig. (Delete as appropriate)

[greenginger]

All his expenses, cabs included, will go through Hearts books.

No need for that Vlad says he is going to start a new Bank.

http://www.lithuaniatribune.com/31809/vladimir-romanov-plans-to-start-a-new-bank-201331809/


All will be Barry again ! :greengrin

[EdinMike]

No need for that Vlad says he is going to start a new Bank.

http://www.lithuaniatribune.com/31809/vladimir-romanov-plans-to-start-a-new-bank-201331809/


All will be Barry again ! :greengrin


“I live like a Jew under the German occupation, Romanov said. “Only I’m not Jewish and the Germans are nowhere to be seen.”

He might be an arse, but he makes me laugh he really does. Maybe he should give up finance and go into Stand up !

A fringe festival show with him would be a sell out. :greengrin

[1875er]

Seemingly Vlad left the ground after 68 minutes when they went 3-1 down..... We'll support you ever more (but not financially).

[Craig_in_Prague]

usually paid wages is big news. So were they paid on time?
We have to assume so on this occasion with the monies they had going into the 'club' of late, right?

[EdinMike]

usually paid wages is big news. So were they paid on time?
We have to assume so on this occasion with the monies they had going into the 'club' of late, right?

Norrmally it's "business as usual" when they shout from the rooftops that they have paid. I've seen no announcement as of yet ! Are they now soooo self-sufficient that they don't have to declare such normalities !?

[jodjam]

Seemingly Vlad left the ground after 68 minutes when they went 3-1 down..... We'll support you ever more (but not financially).

Few mins later. I ken the lad who was his driver and he got the call on 73 mins that vlad was going.

[green glory]

Few mins later. I ken the lad who was his driver and he got the call on 73 mins that vlad was going.

Did he take him straight to the airport? Or is Vlad hanging about to take part in these 'talks' with fan groups re parting with his shares?

[jodjam]

Did he take him straight to the airport? Or is Vlad hanging about to take part in these 'talks' with fan groups re parting with his shares?

Back to the Waverley train station

[Pretty Boy]

Press conference at Tynecastle this afternoon apparently.

[green glory]

Press conference at Tynecastle this afternoon apparently.

Impending Jambogeddon hopefully.

Foooommm!

[macca70]

Press conference at Tynecastle this afternoon apparently.

A statement is expected to be released with regards to transfer of Ownership of Hearts

www.bbc.co.uk/sport/0/football/21820730

So basically Vlad hands over his shares to 'Supporters Direct', not only do they get these wonderful shares but also £24 million debt and UBIG will continue to have 1st charge on Tynecastle should they fall behind in repayments.

If it goes through, its just delaying the inevitible.

[adhibs]

Romanovs parting gift of the league cup and handing over the club.

Oh wait

[Keith_M]

...... UBIG will continue to have 1st charge on Tynecastle should they fall behind in repayments.




Isn't it the case that UKIO Bankas now have the security over Tynecastle?

As far as I understood it, UBIG owe money to UKIO and UKIO have the security against Tynecastle, which they invoke in the case of a re-payment default.


Could one of our resident financial geniuses confirm/deny this?

[CropleyWasGod]

A statement is expected to be released with regards to transfer of Ownership of Hearts

www.bbc.co.uk/sport/0/football/21820730

So basically Vlad hands over his shares to 'Supporters Direct', not only do they get these wonderful shares but also £24 million debt and UBIG will continue to have 1st charge on Tynecastle should they fall behind in repayments.

If it goes through, its just delaying the inevitible.

Again. :wink:

Vlad doesn't have any shares in HMFC. UBIG do, and Vlad isn't on their Board.

[blackpoolhibs]

Again. :wink:

Vlad doesn't have any shares in HMFC. UBIG do, and Vlad isn't on their Board.

Its amazing how so many folk still think Romanov is pulling the strings at tynecastle? :confused:

[macca70]

Again. :wink:

Vlad doesn't have any shares in HMFC. UBIG do, and Vlad isn't on their Board.

So how can BBC publish this headline yesterday:

Hearts: Talks over fans' takeover of Vladimir Romanov's shares

[Golden Bear]

I get the impression that even Vlad doesn't know what he owns or is allowed to own these days. The waters have been murkied even further.

[Caversham Green]

Isn't it the case that UKIO Bankas now have the security over Tynecastle?

As far as I understood it, UBIG owe money to UKIO and UKIO have the security against Tynecastle, which they invoke in the case of a re-payment default.


Could one of our resident financial geniuses confirm/deny this?

That's pretty much how I understand it - Ukio definitely held a security over HoMFC's assets to the extent of £6.8m plus interest and charges while UBIG hold full security over anything above that. The security appears to cover a debt owed by UBIG rather than HoMFC although another poster on this thread has quoted a communication from Ukio that said they had a claim against HoMFC - that could be read as suggesting that HoMFC owe Ukio direct, so it's not entirely clear.

Now that Ukio has been broken up the debt/security apperars to be in the hands of the Lithuanian state bank who will presumably seek to recoup as much of the debt as possible from whichever source is appropriate.

[CropleyWasGod]

So how can BBC publish this headline yesterday:

Hearts: Talks over fans' takeover of Vladimir Romanov's shares

Because, not for the first time, they don't know what they're talking about. As has been the case throughout the Sevco/Jambo saga, we have sports journalists talking about issues they don't understand.

I would prefer to get my facts from Companies House and, indeed, Hibs.net :greengrin

[Craig_in_Prague]

I get the impression that even Vlad doesn't know what he owns or is allowed to own these days. The waters have been murkied even further.

He looks like he's 'aged' too an awful lot in that BBC picture.

Nae wonder. His dodgy businesses have caught up with him.

[JeMeSouviens]

Another good point for Dundee yesterday. Yaministration now puts the Yams 4 points behind with 7 games to go. :wink:

[green glory]

I remember the Succulent Yam tweeted last month the share certificates would be sent out mid-March. Seems there's no news on this.

CWG and Cav, have the shares been lodged with Companies House yet?

[Hibby Kay-Yay]

Press conference at Tynecastle this afternoon apparently.

Just to confirm that even after yesterday's poor result...allisbarry

Now, grab yourself a slice of the white hot atmosphere of tynecastle by getting a season ticket for 2013/14. All your money will not go to Gary's fund but you can be reassured it is going somewhere. Just sit back, relax and order a pie online whilst watching the best youngsters EVER, fact, ENDOF.

[Caversham Green]

I remember the Succulent Yam tweeted last month the share certificates would be sent out mid-March. Seems there's no news on this.

CWG and Cav, have the shares been lodged with Companies House yet?

No, they haven't. It's three months tomorrow since the share offer closed and they're supposed to be registered within one month of allotment.

[green glory]

No, they haven't. It's three months tomorrow since the share offer closed and they're supposed to be registered within one month of allotment.

So we can take it from that they've been royally fleeced? Probably premeditated too?

[Caversham Green]

So we can take it from that they've been royally fleeced? Probably premeditated too?

They've certainly been fleeced, the question is whether they'll ever get bits of paper to prove it.

My gut feeling is it's just administrative incompetence, but the longer the delay goes on, and with some of the stories coming out of Lithuania, an out and out scam is starting to look more believeable.

[PatHead]

On a slightly separate note my local Jambo received his season ticket renewal on Saturday. They are offering a ticket for £300 (by the end of March rising to £340 in April then £360 after that) in the "Main" stand. Interest free credit for 4 months but you have to pay a fee of £20.00 to qualify for this so it isn't really free or 10 months 19%. Finally no credit cards accepted, wonder why?.............................................. ...............The fool is renewing as he isn't willing to pay an extra £60 later in the year and run the risk of losing his seat he has had for umpteen years.

[southsider]

Got a letter on sat am from a scott findlay of edc informing me that hertz aim to be the proud holders of both the sc and the lc at the same time. Then all about their victory parade route. Replied to him personally today......GIRUY ya hertz fud..Why have you not closed that death trap of a stand ?

[Dashing Bob S]

They've certainly been fleeced, the question is whether they'll ever get bits of paper to prove it.

My gut feeling is it's just administrative incompetence, but the longer the delay goes on, and with some of the stories coming out of Lithuania, an out and out scam is starting to look more believeable.

It seems to be practically impossible, even for people within the club, to work out exactly who is in charge. This state of confusion will only intensify until somebody in Lithuania comes out with a procedure for the disposal of the assets.

In the meantime, Hearts will try and stagger on towards the end-of-season finishing line.

The big worry for them must be any criminal investigations into money laundering and illegal activities within the (former) Romanov empire, of which the club is a part. This has the potential, surely, to hold up any future restructuring of the club and disposal of its assets. To my mind, this is the nightmare scenario, a potential transnational 'Third Lanark' situation, where the (groundless) club are de facto frozen out of the game indefinitely as a series of legal proceedings, appeals and counterclaims run on, with the sole objective of keeping main players out of prison for as long as possible.

[Mikey]

I remember the Succulent Yam tweeted last month the share certificates would be sent out mid-March. Seems there's no news on this.



He only Tweeted that because he was told to by David Southern. If he was a proper journalist he wouldn't just be chasing that up, he'd be asking the awkward questions that their fans are too scared to ask.

At the moment he's just being used to peddle Hearts' propaganda.

[lapsedhibee]

He only Tweeted that because he was told to by David Southern. If he was a proper journalist he wouldn't just be chasing that up, he'd be asking the awkward questions that their fans are too scared to ask.

At the moment he's just being used to peddle Hearts' propaganda.

It's maybe hard to compare because there was no interweb when they were in their prime, but were John Fairgrieve and Stewart Brown this useless, or is it a modern thing? :dunno:

[Peevemor]

It's maybe hard to compare because there was no interweb when they were in their prime, but were John Fairgrieve and Stewart Brown this useless, or is it a modern thing? :dunno:

I can remember people talking badly of Stewart Brown because of his Hearts bias - even though he was a Hibs man.

[JeMeSouviens]

It's maybe hard to compare because there was no interweb when they were in their prime, but were John Fairgrieve and Stewart Brown this useless, or is it a modern thing? :dunno:

Was he not the guy that wrote Tiny should be pulled down and replaced by a car park? Blue sky thinking ... :wink:

[Caversham Green]

It seems to be practically impossible, even for people within the club, to work out exactly who is in charge. This state of confusion will only intensify until somebody in Lithuania comes out with a procedure for the disposal of the assets.

In the meantime, Hearts will try and stagger on towards the end-of-season finishing line.

The big worry for them must be any criminal investigations into money laundering and illegal activities within the (former) Romanov empire, of which the club is a part. This has the potential, surely, to hold up any future restructuring of the club and disposal of its assets. To my mind, this is the nightmare scenario, a potential transnational 'Third Lanark' situation, where the (groundless) club are de facto frozen out of the game indefinitely as a series of legal proceedings, appeals and counterclaims run on, with the sole objective of keeping main players out of prison for as long as possible.

Agree with all of that. HoMFC's company secretarial work is mostly done by UBIG (despite HoMFC having more admin staff than Hibs and Aberdeen combined) and the share issue would likely need a director to sign it off - as we know UBIG doesn't actually have any directors at the moment so there's a degree of paralysis now that will only get worse until the situation is rectified, regardless of the criminal implications you suggest.

[MrSmith]

He only Tweeted that because he was told to by David Southern. If he was a proper journalist he wouldn't just be chasing that up, he'd be asking the awkward questions that their fans are too scared to ask.

At the moment he's just being used to peddle Hearts' propaganda.


I have asked him three times if Hearts have been paid this month?? No reply! So, using fuzzy logic, I'll just assume they haven't been paid and thier ass is in a slingshot!


http://www.hibs.net/images/hibsnet/misc/quote_icon.png Originally Posted by Dashing Bob S http://www.hibs.net/images/hibsnet/buttons/viewpost-right.png (http://www.hibs.net/showthread.php?p=3541248#post3541248)

It seems to be practically impossible, even for people within the club, to work out exactly who is in charge. This state of confusion will only intensify until somebody in Lithuania comes out with a procedure for the disposal of the assets.


You know if they had any baws about them they would just take over! There is nothing Romanov nor his flunkies can do at the moment because they have no shares nor remit to be there!

FOH should do a hostile takeover and simply run the club! What legally, could Vlad or Fed do?? Be better for FOH to take over and do the right thing rather than the scenario of the season ticket money going walkies! And, I would expect, the Lithuanian bank and authorities would be OK with it - to a degree!

[Saorsa]

Anybody and idea if Hibs have been paid the ticket money from the last derby by the cheats and stealers

[MrSmith]

Anybody and idea if Hibs have been paid the ticket money from the last derby by the cheats and stealers

Sure I read they had until Wednesday?

[Moulin Yarns]

He only Tweeted that because he was told to by David Southern. If he was a proper journalist he wouldn't just be chasing that up, he'd be asking the awkward questions that their fans are too scared to ask.

At the moment he's just being used to peddle Hearts' propaganda.

Is that not a sign he is look for a job as Media Manager? A bit like a certain James Traynor.

[EdinMike]

I have asked him three times if Hearts have been paid this month?? No reply! So, using fuzzy logic, I'll just assume they haven't been paid and thier ass is in a slingshot!

But business as usual would mean they have been paid !? :confused:

Seriously have they been paid yet though ?! Wouldn't be surprised if they haven't, and our ticket money is due on Wednesday at the very latest too !

[Mr White]

Anybody and idea if Hibs have been paid the ticket money from the last derby by the cheats and stealers

Anyone know what hibs would do in the event of non-payment? I assume go through the spl/sfa rather than the courts?

[green glory]

But business as usual would mean they have been paid !? :confused:

Seriously have they been paid yet though ?! Wouldn't be surprised if they haven't, and our ticket money is due on Wednesday at the very latest too !

Is there not meant to be a press conference at the Asbesto-dome this afternoon?

Wages paid?
Share certificates issued?
All is barry?

Have a feeling about this presser. Don't want to get my hopes up though.

[Spike Mandela]

But business as usual would mean they have been paid !? :confused:

Seriously have they been paid yet though ?! Wouldn't be surprised if they haven't, and our ticket money is due on Wednesday at the very latest too !

Merchandise from a cup victory would have been huge to them as would another derby, Hibs really have to focus on getting that top six place.

[Caversham Green]

Anyone know what hibs would do in the event of non-payment? I assume go through the spl/sfa rather than the courts?

I think so. There's provision in the rules for the SPL to pay on behalf of a defaulting club and deduct it from their prize money. There's also the good faith aspect - serving a winding up petition is probably not acting in good faith towards another club. Nor is withholding ticket money of course.

[Saorsa]

Sure I read they had until Wednesday?I'd be interested tae ken why Hibs even let those shysters get their hands on the dosh at all and didnae sell the tickets themselves. Surely that would have been the best way of making sure they got the dosh.

[Mr White]

I think so. There's provision in the rules for the SPL to pay on behalf of a defaulting club and deduct it from their prize money. There's also the good faith aspect - serving a winding up petition is probably not acting in good faith towards another club. Nor is withholding ticket money of course.

Cheers :aok:

[JeMeSouviens]

Is there not meant to be a press conference at the Asbesto-dome this afternoon?

Wages paid?
Share certificates issued?
All is barry?

Have a feeling about this presser. Don't want to get my hopes up though.

Nothing on sickbag (well, apart from a huge amount of entertainment on how pish they are, how pish their support was, disgusting racists within, etc. etc.).

[MrSmith]

I'd be interested tae ken why Hibs even let those shysters get their hands on the dosh at all and didnae sell the tickets themselves. Surely that would have been the best way of making sure they got the dosh.

I'd imagine to assist their rival Club. If it all goes pop, we can say we weren't the ones who stuck the needle in.

[Saorsa]

I think so. There's provision in the rules for the SPL to pay on behalf of a defaulting club and deduct it from their prize money. There's also the good faith aspect - serving a winding up petition is probably not acting in good faith towards another club. Nor is withholding ticket money of course.Good faith, and that shower :hilarious

[JeMeSouviens]

I'd be interested tae ken why Hibs even let those shysters get their hands on the dosh at all and didnae sell the tickets themselves. Surely that would have been the best way of making sure they got the dosh.

It's alright. Unlike the other shafted creditors, we can chase the new "company that owns the club". :rolleyes:

[Keith_M]

No need for that Vlad says he is going to start a new Bank.

http://www.lithuaniatribune.com/31809/vladimir-romanov-plans-to-start-a-new-bank-201331809/


All will be Barry again ! :greengrin

“I live like a Jew under the German occupation, Romanov said.....


...........“Only I’m not Jewish and the Germans are nowhere to be seen.”



Riiiiiiight

[Saorsa]

I'd imagine to assist their rival Club. If it all goes pop, we can say we weren't the ones who stuck the needle in.If it all went pop it would their tough titty, cannae think of a single good reason for our club tae risk losing money tae help out cheats and overspenders, that no sticking anything in, that's good business and looking efter our own interests. They made their bed, let them ****in' lie in it.

On a personal level if it were me running Hibs I'd be doing everything possible tae put the boot in, no helping the showers of *****.

[Keith_M]

My ideal scenario is that Hibs issue them with a winding up order, triggering administration and the 18 point penalty. They then go to ER on the last day of the season needing only a draw to stay in the SPL....


...I'm sure you can see where I'm going with this :wink:

[EH6 Hibby]

Merchandise from a cup victory would have been huge to them as would another derby, Hibs really have to focus on getting that top six place.

I think the Hearts shop is contracted out to someone else so I'd be surprised if they made anything from merchandising.

On the subject of ticket money, would the SPL not just withhold any money due to Hearts at the end of the season to reimburse Hibs?

[greenginger]

http://www.balsas.lt/naujiena/722900/kol-fntt-krete-v-romanovo-namus-jis-skambino-pianinu?utm_source=kitiRubrikosStr&utm_medium=susijeUkio-banko-istorija&utm_campaign=naujiena

The Bosnians are going to Nationalise his Alumina Plant/Jewel in the crown and the the financial investigators have been all over his flat. :thumbsup:


Well, thats what the google chrome translator says.

[Bostonhibby]

Just to confirm that even after yesterday's poor result...allisbarry

Now, grab yourself a slice of the white hot atmosphere of tynecastle by getting a season ticket for 2013/14. All your money will not go to Gary's fund but you can be reassured it is going somewhere. Just sit back, relax and order a pie online whilst watching the best youngsters EVER, fact, ENDOF.

:greengrin 99% accurate commentary, but is it worth mentioning that you can watch it all go down the pan in 3D only at tiny? the first club ever to do so :greengrin

[Wee Scottie Dug]

http://www.balsas.lt/naujiena/722900/kol-fntt-krete-v-romanovo-namus-jis-skambino-pianinu?utm_source=kitiRubrikosStr&utm_medium=susijeUkio-banko-istorija&utm_campaign=naujiena

The Bosnians are going to Nationalise his Alumina Plant/Jewel in the crown and the the financial investigators have been all over his flat. :thumbsup:


Well, thats what the google chrome translator says.

Here'sthe Bing translation ...

Bosnia and Herzegovina is considering a State Farm Bank investment group (ŪBIG), managed by the molžemio factory in Bosnia, says the biggest shareholder in the Bank of Agriculture Vladimir Romanov, writes the vz.On Sunday, LNK television show "the alpha of the week", he said he intends to help Bosnia and Herzegovina to do so."To help nationalize not only in the factory, but there is a working group within the Bank (In running ŪBIG of the Bank" Balkan Investment Bank AD "). is there spoke v. Romanov.In his view, it is better that the State nacionalizuotų molžemio factory and the Bank, than to give "plėšikams" from Lithuania.Biračo factory, which is the only factory in Bosnia and Herzegovina, molžemio annual capacity, according to the vz. lt is 600000 tonnes.

Looks like he is using his other bank within UBIG now that UB is in 'tatters' ...... how long for it to go in the same direction?

[grunt]

I just love these translation tools!


At the beginning of this week, the financial crime investigation service (FCIS) did the former Agricultural Bank and the searching of Kaunas zalgiris team owner Vladimir Romanovo apartments.
LNK TV ' Knowledge ' in ekscentriškasis a businessman confessed that while he worked at his home, the FCIS telephoned the piano: ' this is what I did with them I have to argue? "

"Searched for, I don't know how to tamper with, as he said, to make of me, from other people as criminals in order to exonerate, as well the Russians came up with Reid: kidnapped and now work against the people. They did not yesterday, not in February, already has 10 years of trying this, trying to implement a monopoly and that the bag is all takes off. Here, it seems, as has the Football Federation, the same thing, "said Tom Dapkui, said v. Romanov

[itslegaltender]

so whats he up to? Is he trying to hand over assets before the Liquidators come calling?

[Bostonhibby]

I just love these translation tools!

By the time it filters back to tiny and the yams it translates word for word to all is barry.

[HibeeMG]

My ideal scenario is that Hibs issue them with a winding up order, triggering administration and the 18 point penalty. They then go to ER on the last day of the season needing only a draw to stay in the SPL....


...I'm sure you can see where I'm going with this :wink:

And if they did lose they would still be safe unless Dundee overturned a 5 goal deficit against St Mirren.

I like this scenario. :greengrin

[Hibrandenburg]

And if they did lose they would still be safe unless Dundee overturned a 5 goal deficit against St Mirren.

I like this scenario. :greengrin

With Dundee's 5th coming from a 96th minute penalty that never crossed the line and awarded by Craig Thompson

I likey likey.

[Gus Fring]

Barry Anderson is back with his insight.

http://www.scotsman.com/edinburgh-evening-news/football/hearts/hearts-in-talks-with-suporters-groups-over-buyout-1-2842556

The only difference in this particular piece of in-depth journalistic reporting and what the BBC wrote yesterday is that Barry spells supporters with just the one P.

Which is ironic given Hearts don't have 2 P's to rub together ;)

A fine example of how gash this guy is at his "job" is the following

"Fedotovas is acting on behalf of Vladimir Romanov, who *controls UBIG" - Perhaps if he had asked the business desk, they'd have told him that's not the case.

[onionman]

Barry Anderson is back with his insight.

http://www.scotsman.com/edinburgh-evening-news/football/hearts/hearts-in-talks-with-suporters-groups-over-buyout-1-2842556

The only difference in this particular piece of in-depth journalistic reporting and what the BBC wrote yesterday is that Barry spells supporters with just the one P.

Which is ironic given Hearts don't have 2 P's to rub together ;)

A fine example of how gash this guy is at his "job" is the following

"Fedotovas is acting on behalf of Vladimir Romanov, who *controls UBIG" - Perhaps if he had asked the business desk, they'd have told him that's not the case.


One P or two but enough about Gary Locke's private life :greengrin:greengrin

[green glory]

Barry Anderson is back with his insight.

http://www.scotsman.com/edinburgh-evening-news/football/hearts/hearts-in-talks-with-suporters-groups-over-buyout-1-2842556

The only difference in this particular piece of in-depth journalistic reporting and what the BBC wrote yesterday is that Barry spells supporters with just the one P.

Which is ironic given Hearts don't have 2 P's to rub together ;)

A fine example of how gash this guy is at his "job" is the following

"Fedotovas is acting on behalf of Vladimir Romanov, who *controls UBIG" - Perhaps if he had asked the business desk, they'd have told him that's not the case.


So in other words. Nothing new to report. What a pointless story.

[Gus Fring]

So in other words. Nothing new to report. What a pointless story.

He's clearly read the BBC article and didn't want it to seem he has been left out and so tried to reword it to make it seem that he is in the know.

The problem is that it's all utter nonsense, you can't be in the know about something that doesn't exist.

[Jim44]

I take it that the loud silence means they have been paid. :dunno:

[Treadstone]

So in other words. Nothing new to report. What a pointless story.

Exactly what I thought when reading this. Totally ripped from yesterdays BBC story that was very thin on any details. The one thing Banderson has right is a few weeks ago when he was under the cosh and said he was a sports journo and not a business one. Ye weren't wrong Barry.

[21.05.2016]

Romanov made a swift back door exit from Hampden yesterday after St Mirrens 3rd goal, straight into a taxi bound for the airport (I have an very reliable source) despite claiming he is over here to speak to the hearts supporters groups and tell them what the hell is actually going on (that would certainly be a first!). Hardly demonstrates his "love for the club". If they had won yesterday i'm sure he would be quite happy to suck up the glory with the fans.

The sad thing about it is that everybody except hearts fans can see right through Romanov and don't buy into every lies he decides to spin the hearts supporters. Hearts have lived in the fantasy world he has created for years and years and many still continue to do so, they have allowed this to happen because they keep believing that eventually Vlad will deliver what he originally promised. The bottom line is that Romanov simply does not have any more interest in hearts, he has left them in a huge hole and is quite prepared to walk away and leave them. He promised them a league title, a massive multi plex stadium, challenging for the Champions league title. Hahaha what exactly have they had? a couple Scottish cups and 2nd in the league. Yea thats good and obviously we would have loved that too but it was done through cheating and as a result has put the entire club in a massive hole thats going to be incredibly difficult to get out of. Was it really worth it?

They have lived well beyond their means for years, buying players well out of their budget and paying players ridiculous wages. Cheating plain and simple. We have seen yesterday a hearts team that are much more suited to their budget and look what happened. Im sure if hibs broke the bank, buying players well out of our budget then the final last May wouldn't have ended the way it did. What we saw in the cup final was hibs (a team playing by the rules and within their means) against hearts (a team full of players they could nowhere near afford). Now hearts are finally having to live in the real world just like everybody else has too.

No sympathy for that bunch whatsoever, their delusion and arrogance has helped create their downfall.

[jodjam]

Your source is wrong. He had a chauffeur take him back to Waverley

[Jim44]

Your source is wrong. He had a chauffeur take him back to Waverley

An odd destination.

[green glory]

An odd destination.

If he was flying straight back to Lithuania he may have had to fly from an airport further south.

[HIBERNIAN-0762]

Romanov made a swift back door exit from Hampden yesterday after St Mirrens 3rd goal, straight into a taxi bound for the airport (I have an very reliable source) despite claiming he is over here to speak to the hearts supporters groups and tell them what the hell is actually going on (that would certainly be a first!). Hardly demonstrates his "love for the club". If they had won yesterday i'm sure he would be quite happy to suck up the glory with the fans.

The sad thing about it is that everybody except hearts fans can see right through Romanov and don't buy into every lies he decides to spin the hearts supporters. Hearts have lived in the fantasy world he has created for years and years and many still continue to do so, they have allowed this to happen because they keep believing that eventually Vlad will deliver what he originally promised. The bottom line is that Romanov simply does not have any more interest in hearts, he has left them in a huge hole and is quite prepared to walk away and leave them. He promised them a league title, a massive multi plex stadium, challenging for the Champions league title. Hahaha what exactly have they had? a couple Scottish cups and 2nd in the league. Yea thats good and obviously we would have loved that too but it was done through cheating and as a result has put the entire club in a massive hole thats going to be incredibly difficult to get out of. Was it really worth it?

They have lived well beyond their means for years, buying players well out of their budget and paying players ridiculous wages. Cheating plain and simple. We have seen yesterday a hearts team that are much more suited to their budget and look what happened. Im sure if hibs broke the bank, buying players well out of our budget then the final last May wouldn't have ended the way it did. What we saw in the cup final was hibs (a team playing by the rules and within their means) against hearts (a team full of players they could nowhere near afford). Now hearts are finally having to live in the real world just like everybody else has too.

No sympathy for that bunch whatsoever, their delusion and arrogance has helped create their downfall.

Top post :top marks

[Gus Fring]

Barry is at it again I see.

http://i46.tinypic.com/1hp9a8.png

[proud_and_green]

Romanov made a swift back door exit from Hampden yesterday after St Mirrens 3rd goal, straight into a taxi bound for the airport (I have an very reliable source) despite claiming he is over here to speak to the hearts supporters groups and tell them what the hell is actually going on (that would certainly be a first!). Hardly demonstrates his "love for the club". If they had won yesterday i'm sure he would be quite happy to suck up the glory with the fans.

The sad thing about it is that everybody except hearts fans can see right through Romanov and don't buy into every lies he decides to spin the hearts supporters. Hearts have lived in the fantasy world he has created for years and years and many still continue to do so, they have allowed this to happen because they keep believing that eventually Vlad will deliver what he originally promised. The bottom line is that Romanov simply does not have any more interest in hearts, he has left them in a huge hole and is quite prepared to walk away and leave them. He promised them a league title, a massive multi plex stadium, challenging for the Champions league title. Hahaha what exactly have they had? a couple Scottish cups and 2nd in the league. Yea thats good and obviously we would have loved that too but it was done through cheating and as a result has put the entire club in a massive hole thats going to be incredibly difficult to get out of. Was it really worth it?

They have lived well beyond their means for years, buying players well out of their budget and paying players ridiculous wages. Cheating plain and simple. We have seen yesterday a hearts team that are much more suited to their budget and look what happened. Im sure if hibs broke the bank, buying players well out of our budget then the final last May wouldn't have ended the way it did. What we saw in the cup final was hibs (a team playing by the rules and within their means) against hearts (a team full of players they could nowhere near afford). Now hearts are finally having to live in the real world just like everybody else has too.

No sympathy for that bunch whatsoever, their delusion and arrogance has helped create their downfall.

Of course the lesson here is if you're a businessman looking to invest your squilions first do your research and understand what you're buying, be realistic with your business plan and don't make promises you can't deliver on. That is of course for the normal one, alternatively if you are looking to recycle your cash (generous description) and create a tax loss to offset your profits (again being generous) then you could do no worse than not plan and look for a bucket case business with a customer base populated by a bunch of blind lemmings who will not realise what you are doing and help you tie the noose around their own necks.

[Hibrandenburg]

Any news from this afternoon's press conference?

[#FromTheCapital]

Any news from this afternoon's press conference?

I'm guessing by the lack of news that it didn't happen

[Saorsa]

Any news from this afternoon's press conference?:agree:

All is barry.

[clerriehibs]

Exactly what I thought when reading this. Totally ripped from yesterdays BBC story that was very thin on any details. The one thing Banderson has right is a few weeks ago when he was under the cosh and said he was a sports journo and not a business one. Ye weren't wrong Barry.
only half right; he's not a business journo - nor is he any other kind of journo. He's only a charlie mannish mouthpiece.

[Gus Fring]

Barry is at it again I see.

http://i46.tinypic.com/1hp9a8.png

He's now taken offence at the guy correcting his spelling etc. He likes pretending he's the victim eh? Bet his twitter goes dead silent after they go bust the same as it did when they got pumped yesterday.

[Woody70x2]

Apologies if this has been posted elsewhere, but I have just read The Sun and notice that King Vlad left yesterday's match with 20 minutes to go. Did Vlad stage a walk out on 70 minutes?

Hail King Vlad :not worth

[truehibernian]

He's now taken offence at the guy correcting his spelling etc. He likes pretending he's the victim eh? Bet his twitter goes dead silent after they go bust the same as it did when they got pumped yesterday.

Just read the wee 'interaction' - the lad Jamie should delve further as Barry himself alludes to have made enquiry into Romanov's other companies, hence the controlling interest - press him further Jamie lad and let's see which companies he lists :agree:

Regards the spelling and apparently the lad being 'snidey' - Barry, in any profession there is what's called professional pride and standards. If you put your name to any article or document surely to goodness you want it to go out not only factually correct but without basic errors. Whether you actually typed the damn headline or not you'd have it corrected if it's your name under it . It's a national newspaper for goodness sake.

How on earth did this guy get past the interview stage :confused:

And if Disney/The Hensons ever pen a 'Muppet Musical' and are casting humans to fill the muppet suits - he need look no further than Bazza as he is a 'shoe-in' for Beaker :agree:

https://si0.twimg.com/profile_images/1696844024/megabeaker5.jpg

[Gus Fring]

He got a phonecall saying he had a fare.

[greenginger]

Latest from the News page of Ukio Bankas in administration.


http://translate.google.co.uk/translate?hl=en&sl=lt&u=http://www.ub.lt/&prev=/search%3Fq%3Dukio%2Bbankas%26hl%3Den%26client%3Dfi refox-a%26hs%3DB41%26rls%3Dorg.mozilla:en-US:official&sa=X&ei=0m5HUZ6ROOiI4ATGm4DACw&ved=0CHIQ7gEwCA

Seem to be moving at a pace. Employees getting 2 months wages plus holidays due, Customers with "good assets" getting told how their loans/assets will be managed, share holders told they are still share holders but at the end of the queue.

Hopefully the treatment of the " Bad Asset " class will follow shortly. ( That means UBIG and all who sail in her ) :greengrin

[Gus Fring]

Jamie: @BarryAnderson_8 So can I politely ask again, what makes you think Romanov still has control over UBIG? Just the shares? Or something more?


Barry: @TheJamieRyan He has 16%. He also controls companies who hold a large number of other shares. All very complex.


Jamie: @BarryAnderson_8 16% shouldn't be a controlling share. Strange for him (and Fedotovas) to resign from the board but still control?


Still full of the brown stuff then

[Treadstone]

Barry: @TheJamieRyan He has 16%. He also controls companies who hold a large number of other shares. All very complex.

Still full of the brown stuff then

Rather than say he doesn't have a clue Banderson is just winging it and doing it badly.

[lapsedhibee]

If you put your name to any article or document surely to goodness you want it to go out not only factually correct but without basic errors. Whether you actually typed the damn headline or not you'd have it corrected if it's your name under it . It's a national newspaper for goodness sake.

Katie alert :wink:

[degenerated]

Katie alert :wink:

Kate you say :greengrin
9524

[CropleyWasGod]

Jamie: @BarryAnderson_8 So can I politely ask again, what makes you think Romanov still has control over UBIG? Just the shares? Or something more?


Barry: @TheJamieRyan He has 16%. He also controls companies who hold a large number of other shares. All very complex.


Jamie: @BarryAnderson_8 16% shouldn't be a controlling share. Strange for him (and Fedotovas) to resign from the board but still control?


Still full of the brown stuff then

To be fair, he could be right.

The Romanov/UBIG empire is complex. Although VR himself may only own 16% of UBIG's shares, the other 84% could conceivably be owned by companies over which he does have full control.

Does anyone have a list of the UBIG shareholders?

[The Green Goblin]

Jamie: @BarryAnderson_8 So can I politely ask again, what makes you think Romanov still has control over UBIG? Just the shares? Or something more?


Barry: @TheJamieRyan He has 16%. He also controls companies who hold a large number of other shares. All very complex.


Jamie: @BarryAnderson_8 16% shouldn't be a controlling share. Strange for him (and Fedotovas) to resign from the board but still control?


Still full of the brown stuff then

"All very complex".... :greengrin. You just have to chuckle at nonsense like that.

[Gus Fring]

Jamie: @BarryAnderson_8 Are UBIG likely to take a shareholder vote on what happens with Hearts? They haven't in the past AFAIK?


Barry: @TheJamieRyan Wouldn't have thought so but couldn't say for sure.

--

So if the UBIG shareholders (IE Vlad and co) aren't voting, how does it work? Does vlad just tell the new board what to do and they do it? If he's going to do that why not just stay on the board in the first place?

[Gus Fring]

"All very complex".... :greengrin. You just have to chuckle at nonsense like that.

I chuckled at that too, maybe he thinks the masses are too thick to understand it? Oh hang on, his target audience are yams.

[Jack Hackett]

"All very complex".... :greengrin. You just have to chuckle at nonsense like that.

While at first glance it would appear to be condescending, I'm pretty sure it actually just means he doesn't have a clue

[CropleyWasGod]

While at first glance it would appear to be condescending, I'm pretty sure it actually just means he doesn't have a clue

I will sit on the fence and say that he could well be right. However, my instinct is that, if he is right, it is more by luck than anything else.

I would, though, like someone to ask him who exactly the shareholders in UBIG are.

This tells us nowt. http://wck2.companieshouse.gov.uk//compdetails

Alternatively, Cav will be along in a bit to give us the real story :greengrin

[Jack Hackett]

I will sit on the fence and say that he could well be right. However, my instinct is that, if he is right, it is more by luck than anything else.

I would, though, like someone to ask him who exactly the shareholders in UBIG are.

This tells us nowt. http://wck2.companieshouse.gov.uk//compdetails

Alternatively, Cav will be along in a bit to give us the real story :greengrin

Up early in the morning, so won't be hanging around for that :yawn:

on the bright side though, gives me something to read with my first coffee. I shall also sleep soundly tonight knowing they're one day closer to death :bye:

[greenginger]

The UBIG share holdings was one of the questions for Sergey's lithuanian contact. (post 1798 on PM board thread )

She was unable to find out who the other share holders were and she in the the country and speaks the language, so Banderson has no chance as he does not even speak English.

Vlad held 30.5 % of UBIG according to the figures Sergey got.

[Seveno]

I understand that this afternoon's Press Conference was postponed because everyone was a bit hungover after last night's party. :wink:

[Crazyhorse]

Off topic - but did Vlad attend today's Cup Final?

They were rumoured to be belting out the old Vladimir Romanov ditty.

Agent Vlad was in attendance. Hopefully he enjoyed it as much as all of us....

[CropleyWasGod]

The UBIG share holdings was one of the questions for Sergey's lithuanian contact. (post 1798 on PM board thread )

She was unable to find out who the other share holders were and she in the the country and speaks the language, so Banderson has no chance as he does not even speak English.

Vlad held 30.5 % of UBIG according to the figures Sergey got.

Ah, cheers for that.... I missed that bit.

It still wouldn't surprise me if Vlad does have beneficial ownership of most of UBIG, either through his family or through some of those mysterious companies that were involved in the DFE swaps.

No credit to Banderson, though, even if he does turn out to be right. :greengrin

[macca70]

1 of the Yams bus convieners has done a runner with there bus fares, leaving 2 bus loads bus less for yesterday's final.

Just like the plasma telly saga

www.hmfckickback.co.uk/index.php?/topic/125956-gilmerton-shandon-bus/page__st__100#entry3494130

£1200 was to be paid for 2 buses, only £400 deposit was paid so bus company never sent the 2 buses leaving them to have to make new arrangements on Sunday morning and £15 a heid out of pocket.

[Saorsa]

1 of the Yams bus convieners has done a runner with there bus fares, leaving 2 bus loads bus less for yesterday's final.

Just like the plasma telly saga

www.hmfckickback.co.uk/index.php?/topic/125956-gilmerton-shandon-bus/page__st__100#entry3494130 (http://www.hmfckickback.co.uk/index.php?/topic/125956-gilmerton-shandon-bus/page__st__100#entry3494130)

£1200 was to be paid for 2 buses, only £400 deposit was paid so bus company never sent the 2 buses leaving them to have to make new arrangements on Sunday morning and £15 a heid out of pocket.:hilarious

[DarrenSQH]

1 of the Yams bus convieners has done a runner with there bus fares, leaving 2 bus loads bus less for yesterday's final.

Just like the plasma telly saga

www.hmfckickback.co.uk/index.php?/topic/125956-gilmerton-shandon-bus/page__st__100#entry3494130

£1200 was to be paid for 2 buses, only £400 deposit was paid so bus company never sent the 2 buses leaving them to have to make new arrangements on Sunday morning and £15 a heid out of pocket.

You couldn't make it up. Next they will be robbing their own bake sales.

[The_Todd]

No class at all. Robbing your own fellow fans? They've no shame.

[ronaldo7]

1 of the Yams bus convieners has done a runner with there bus fares, leaving 2 bus loads bus less for yesterday's final.

Just like the plasma telly saga

www.hmfckickback.co.uk/index.php?/topic/125956-gilmerton-shandon-bus/page__st__100#entry3494130

£1200 was to be paid for 2 buses, only £400 deposit was paid so bus company never sent the 2 buses leaving them to have to make new arrangements on Sunday morning and £15 a heid out of pocket.

I'm sure their was a bus sitting in a garage waiting for some yams. Maybe a mix up:wink:

9525

[dp00]

http://www.hmfckickback.co.uk/index.php?/topic/125956-gilmerton\-shandon-bus

[Cabbage East]

Unlucky mutants :faf:

[CentreLine]

1 of the Yams bus convieners has done a runner with there bus fares, leaving 2 bus loads bus less for yesterday's final.

Just like the plasma telly saga

www.hmfckickback.co.uk/index.php?/topic/125956-gilmerton-shandon-bus/page__st__100#entry3494130

£1200 was to be paid for 2 buses, only £400 deposit was paid so bus company never sent the 2 buses leaving them to have to make new arrangements on Sunday morning and £15 a heid out of pocket.

Just a mini version of what Vlad has done to them for years. No surprise then that they don't think anything needs to be done about it. And the guy who has done a runner has previous from a friendly trip to Ireland for a fame against St Patrick if i read that thread correctly.

[JohnStephens91]

Guy rips off fans. Fans want to create an angry mob to lynch him. Disgusting all round behaviour.

That said though I hope they can get their money back, that guy who set up the bus seems like a right walloper.

[essexhibee]

Hahahahahahahah.

[EdinMike]

I hope he put the money on the Buddies winning 3-2 and is kissing the sun in the Bahamas right now ! :thumbsup:

[Hibercelona]

Perhaps Vlad took up a quick career as a bus driver and used it to devise another clever scheme for ripping them off. :Romanov:

[Hibercelona]

"All very complex".... :greengrin. You just have to chuckle at nonsense like that.

Hearts also owe all that debt to themselves.

We just can't understand it, because it's "all very complex". :agree:

[HibeeMG]

Just a mini version of what Vlad has done to them for years. No surprise then that they don't think anything needs to be done about it. And the guy who has done a runner has previous from a friendly trip to Ireland for a fame against St Patrick if i read that thread correctly.

Is stealing from your fellow fans the same as owing the money to yourselves?

All very complex.

[Jack Hackett]

#allverycomplex but #allisbarry :greengrin

[Pete]

1 of the Yams bus convieners has done a runner with there bus fares, leaving 2 bus loads bus less for yesterday's final.

Just like the plasma telly saga

www.hmfckickback.co.uk/index.php?/topic/125956-gilmerton-shandon-bus/page__st__100#entry3494130

£1200 was to be paid for 2 buses, only £400 deposit was paid so bus company never sent the 2 buses leaving them to have to make new arrangements on Sunday morning and £15 a heid out of pocket.

Even though it's hearts that's out of order.

You trust someone with a lot of money and it's bad enough conning anyone like that but your fellow supporters??

They should string him up and leather him if he is seen near tynecastle again.

Ps...unless it is all a misunderstanding;-)

[scoopyboy]

Even though it's hearts that's out of order.

You trust someone with a lot of money and it's bad enough conning anyone like that but your fellow supporters??

They should string him up and leather him if he is seen near tynecastle again.

Ps...unless it is all a misunderstanding;-)

If he bakes a cake or half a dozen scones it will be ok.

If he buys a season ticket he will get a seat on the board for his enterprise.

Ripping off their own is what big team supporters do, Scoopyboy understands that the guy is gutted that he didn't manage to nail all 400,000 of them.

No doubt his great grandfather killed several hundred Germans in his clubs most famous victory.

[Viva_Palmeiras]

Just glad we've got Mikey.

mikey... Mikey... MIKEY!!!! You there ?
oh good you're there like the tan did you Enjoy Thailand? You put the dosh on Saints right?

Whilst it may be our poor cousins you'd be fuming if tables reversed.
i expect the guys FB pic to be updated shortly with a neck brace on ;)

With a surname like his he's bound to be a good Hibby ;)

[The Green Goblin]

Hearts also owe all that debt to themselves.

We just can't understand it, because it's "all very complex". :agree:

:greengrin.

Owing debt to yourself sounds good, but it can't be that simple can it? Which means it's "all very complex".

I'm sure all the yams ken whit's goin oan... Smart lads that they are.

[The Green Goblin]

Is stealing from your fellow fans the same as owing the money to yourselves?

All very complex.

:agree: All very complex...

[Dashing Bob S]

Going to rob my Jambo neighbour and burn his house town. When he complains to the police my defence will be "it's all very complex..."

[greenginger]

Barry is at it again I see.

http://i46.tinypic.com/1hp9a8.png

After a bit of trawling I have found an article that lists all the UBIG shareholders , in fact the actual owners of HOMFC.
http://translate.google.co.uk/translate?hl=en&sl=lt&u=http://vz.lt/article/2013/3/4/romanovas-nesuprantu-kaip-veike-ukio-bankas&prev=/search%3Fq%3Dukio%2Bbankas%26start%3D30%26hl%3Den% 26client%3Dfirefox-a%26sa%3DN%26rls%3Dorg.mozilla:en-US:official%26biw%3D1173%26bih%3D659&sa=X&ei=zVxIUeWtLqf80QWPsIGwBA&ved=0CFcQ7gEwBTge

The holdings are at 11/12/2012 and lists Vlad as having 16.9%, a company called Balmet with 26.8 %, and the Economy Bank with 17.3%.

Note , You need to click the article that says UBIG Board resigns and all the shareholders are noted at the end of the piece.

[Spike Mandela]

After a bit of trawling I have found an article that lists all the UBIG shareholders , in fact the actual owners of HOMFC.
http://translate.google.co.uk/translate?hl=en&sl=lt&u=http://vz.lt/article/2013/3/4/romanovas-nesuprantu-kaip-veike-ukio-bankas&prev=/search%3Fq%3Dukio%2Bbankas%26start%3D30%26hl%3Den% 26client%3Dfirefox-a%26sa%3DN%26rls%3Dorg.mozilla:en-US:official%26biw%3D1173%26bih%3D659&sa=X&ei=zVxIUeWtLqf80QWPsIGwBA&ved=0CFcQ7gEwBTge

The holdings are at 11/12/2012 and lists Vlad as having 16.9%, a company called Balmet with 26.8 %, and the Economy Bank with 17.3%.

Note , You need to click the article that says UBIG Board resigns and all the shareholders are noted at the end of the piece.

So, if Vlad has controlling interest in these other two companies he could effectively sell Hearts before UBIG has an insolvency event, yes?

[greenginger]

So, if Vlad has controlling interest in these other two companies he could effectively sell Hearts before UBIG has an insolvency event, yes?

I think the Economy Bank is part of Ukio so their share holding will be controlled by the administrator.

There is a Balmet Holdings registered in Miami but its status in 2011 was inactive so not sure if that is the same company or if it has Vlad links.

[Caversham Green]

So, if Vlad has controlling interest in these other two companies he could effectively sell Hearts before UBIG has an insolvency event, yes?

Not really. Even majority shareholders don't have direct authority to carry out transactions for a company, they would have to instruct the directors to do it, and as we know, UBIG have no directors.

[StevieC]

So, if Vlad has controlling interest in these other two companies he could effectively sell Hearts before UBIG has an insolvency event, yes?

I hope he does, but wouldn't it be a criminal offence to sell shares in something if you knew it was about to be liquidated?

[CropleyWasGod]

I hope he does, but wouldn't it be a criminal offence to sell shares in something if you knew it was about to be liquidated?

Wouldn't have thought so. It would be up to the buyer to do their due diligence. TBH, if any buyer DIDN'T know that HMFC were in trouble, then they deserve to be shafted.

[Dashing Bob S]

Wouldn't have thought so. It would be up to the buyer to do their due diligence. TBH, if any buyer DIDN'T know that HMFC were in trouble, then they deserve to be shafted.

You can't legislate against idiocy.

[Treadstone]

You can't legislate against idiocy.

Oh sorry thought you were talking about Barry Anderson there.:greengrin

I have asked 4 times in the last 36 hours if the share certificates have been issued so far no reply.

[Kato]

I have asked 4 times in the last 36 hours if the share certificates have been issued so far no reply.

You're forgetting he doesn't write about business affairs, he does sometimes but even then he still doesn't write about business affairs.

[Danderhall Hibs]

You're forgetting he doesn't write about business affairs, he does sometimes but even then he still doesn't write about business affairs.

Due to it being all very complex.

[Kato]

Due to it being all very complex.

Unlike Barry.

I don't purchase the EEN at all any more but when I did he was my favourite for a giggle. All that "corridors of power at Tynecastle" and "the upper echelons of the Heart of Midlothian hierarchy" pompous guff. Truly beyond reason to suggest there is anything, architecturally speaking, resembling a corridor in that decrepit lean-to.

He's a reporter not a journalist. In his current job he reports on Pynkcastle's press releases for the EEN. No journalism required.

[Treadstone]

Due to it being all very complex.

#Alliscomplex

[ancient hibee]

Unlike Barry.

I don't purchase the EEN at all any more but when I did he was my favourite for a giggle. All that "corridors of power at Tynecastle" and "the upper echelons of the Heart of Midlothian hierarchy" pompous guff. Truly beyond reason to suggest there is anything, architecturally speaking, resembling a corridor in that decrepit lean-to.

He's a reporter not a journalist. In his current job he reports on Pynkcastle's press releases for the EEN. No journalism required.

The Hibs equivalent is David Hardie.The News hasn't had a proper football journo for years.

[JimBHibees]

The Hibs equivalent is David Hardie.The News hasn't had a proper football journo for years.

Stewart Brown probably the last decent one.

[147lothian]

I logged on hoping I would hear pop! A slow death or liquidation I want to know, whats going on so I can only guess what it must be like for the yams with the hangovers saying should have doe this should have done that and wondering what the great mans next move is

[Craig_in_Prague]

Can someone try summarize where things are (Ukio/Ubig, the administration status/good assets & Bad etc)....and other key items?
eg. Accounts should be lodged end of March?
Monies due to Hibs tomorrow from tickets they sold?
Any official word on last Fridays wages?
Are the council rates paid up yet?
etc
cheers

[One Day Soon]

Can someone try summarize where things are (Ukio/Ubig, the administration status/good assets & Bad etc)....and other key items?
eg. Accounts should be lodged end of March?
Monies due to Hibs tomorrow from tickets they sold?
Any official word on last Fridays wages?
Are the council rates paid up yet?
etc
cheers

No Craig you thick Hobo it cannot be summarised because a) It is all very complex and b) #allisbarry

Still, the ticking sound from that parcel they're holding in the Tynecastle Boardroom is getting louder and louder...

[monktonharp]

Unlike Barry.

I don't purchase the EEN at all any more but when I did he was my favourite for a giggle. All that "corridors of power at Tynecastle" and "the upper echelons of the Heart of Midlothian hierarchy" pompous guff. Truly beyond reason to suggest there is anything, architecturally speaking, resembling a corridor in that decrepit lean-to.

He's a reporter not a journalist. In his current job he reports on Pynkcastle's press releases for the EEN. No journalism required.he's hardly the next John Pilger, or even Orla Geuren but surely the god his superiors can have a glance occasionally at some o' the guff he comes out with.EEN is goin down the tube almost as fast as Dunf............Homof............delete as reqd.

[monktonharp]

The Hibs equivalent is David Hardie.The News hasn't had a proper football journo for years.HARDY seems to have a bit more savvy.he tends to report on more factual events eg: hibs just signed player, etc.less speculating. his workmate has a canny knack of spouting keek. maybe a lot to do with the obvious problem at Tynecastle. nae bugger has a clue what's gonnae happen in the next minute

[matty_f]

What's most mental about the reporting of what's going on is the suggestion that there have been constructive talks and that a deal could happen soon - and then in the same breath mention that due diligence still has to happen. This on a club that's not produced accounts for how long?! A club whose parent company is in seven shades of sh*te, whose bank has gone breasticles skywards, whose very ownership is uncertain...

The suggestion that a deal could happen any time, let alone soon, doesn't stand up to even a fundamental bit of scrutiny.

[monktonharp]

:agree: admire your wording there,Matty. are you a cub reporter by any chance.? jimmy olsen-esque.

[The Green Goblin]

I tried to make a cup of tea tonight, but I put the water in a cup without a teabag and failed.

All very complex...

[Geo_1875]

What I don't understand is how can they keep "reporting" that HoMFC are anywhere near self-sufficient when it is so blatantly untrue.

I've heard of freedom of the press but surely they are not free to publish blatant lies.

[Peevemor]

One thing that made a huge hole in their accounts was a vast sum that was spent on treatment for Craig Gordon to make him more attractive to potential buyers.

It's Topex. :agree:

[matty_f]

What I don't understand is how can they keep "reporting" that HoMFC are anywhere near self-sufficient when it is so blatantly untrue.

I've heard of freedom of the press but surely they are not free to publish blatant lies.

The same way that they were happy to present debt forgiveness as income in order to report that the Yams made a profit (was that two years ago now?) when they'd actually had a multi-million pound operating loss.

It wasn't that long ago that their wage bill surpassed their entire turnover, which means that even if they had no other costs at all, they'd still make a significant loss. They needed to shed millions and millions from their wage bill and costs, as well as maintaining their income (they haven't) to even get in the same continent as self-sustainability.

There are reporters who will say that they are close to being self sustaining despite the fact that the club literally had to beg fans to put money into the club to make sure that a game (v St Mirren, IIRC) wasn't their last ever.

The reports also fail to consider that the share issue (if you remember, they needed £1.8m and every game from then til the end of the season to sell out) was the best part of a million pounds under-subscribed.

So, just under a million quid shy of survival, and that share issue was announced before the 'surprise' bill of *cough* £1.8m from Hector, so even more money to be found.

But #allisbarry of course. If you're a total f***tard, that is.

[NOLA]

Read an interesting article In bloomberg which says it will be several months before ukios bankruptcy administrators might come calling on hearts to pay back borrowing or forfeit the stadium, according to the temporary administrator. Article written by bryan bradley

[Hibby cal]

Boooooooo why the wait?????
just finish them now!!!!!!!!

Read an interesting article In bloomberg which says it will be several months before ukios bankruptcy administrators might come calling on hearts to pay back borrowing or forfeit the stadium, according to the temporary administrator. Article written by bryan bradley

[s.a.m]

Read an interesting article In bloomberg which says it will be several months before ukios bankruptcy administrators might come calling on hearts to pay back borrowing or forfeit the stadium, according to the temporary administrator. Article written by bryan bradley

I think somebody has probably already asked this, (and answered - please be patient with my slow-wittedness!) but if UBIG forgive all the debt now, and off-load them to some Gorgie newsagent for a tenner, can future administrators / liquidators object to that sale?

[grunt]

http://www.bloomberg.com/news/2013-03-20/failed-baltic-bank-raises-risk-of-broken-hearts-1-000-miles-away.html


Failed Baltic Bank Raises Risk of Broken Hearts 1,000 Miles Away

Vladimir Romanov bought Heart of Midlothian eight years ago and promised to wipe out debt, replace its aging stadium and boost dwindling crowds.
After the collapse of the Lithuanian bank at the core of his business empire, Romanov is set to leave the Edinburghsoccer club (http://topics.bloomberg.com/soccer-club/) as he found it: battling for survival. Regulators last month closed Ukio Bankas AB (UKB1L) (http://www.bloomberg.com/quote/UKB1L:LH), which financed Romanov’s international sport, aluminum and real-estate projects.
“He had a lot of dreams, but his dreams never came true,”former Hearts team manager Csaba Laszlo said in an interview last week. “It’s not a nice story.”
Romanov, 65, first invested in Hearts in 2004, a year after Russian billionaire Roman Abramovich (http://topics.bloomberg.com/roman-abramovich/) took control of Chelsea inLondon (http://topics.bloomberg.com/london/) and spent millions on new players. While acknowledging he had a fraction of the wealth, Romanov, also Russian-born, similarly promised a rise through the ranks of soccer. Last year, Chelsea won the Champion’s League, the top trophy in European club football, as Hearts struggled to pay a tax bill.
Rather than become a new home fit for elite European competition, Hearts’s Tynecastle stadium in the west of the Scottish capital is pledged to Ukio as security for debts, as are the shares that give him control of the club.
Romanov, who first publicly mooted the sale of Hearts in November 2011, said his downfall was engineered by rival banks in conspiracy with Lithuanian authorities.
Destruction“The goal of those who took my bank was not just to take the bank but to destroy all my business,” Romanov, who last year founded the Lithuanian People’s Party and won 0.25 percent of votes in a parliamentary election, said by phone on March 1.
The Bank of Lithuania (http://topics.bloomberg.com/lithuania/) suspended Ukio’s activities on Feb. 12 and permanently revoked its license a week later, saying risky loans to parties related to Romanov had driven the bank to insolvency. Romanov owns 64.9 percent of Ukio, filings show. Some of the loans went to Ukio Banko Investicine Grupe, or UBIG, through which he controls 79 percent of Hearts.
“There’s no conspiracy,” Raimondas Kuodis, deputy chairman of the Lithuanian central bank, said by telephone yesterday. “Such accusations are mere defense tactics. The bank simply had big negative capital and according to the law could no longer operate.”
It will be several months before Ukio’s eventual bankruptcy administrator might come calling on Hearts to pay back borrowing or forfeit its stadium, according to the lender’s temporary administrator, Adomas Audickas.
Tax BillRomanov said the club’s debt is about 20 million pounds, roughly what it was when he took over. Hearts sold shares last year to supporters to raise money for a tax bill and the prospectus put the debt at 24 million pounds, including 1.75 million pounds owed to the taxman. It said the club would face liquidation should UBIG demand repayment.
Hearts fans “certainly have time” to sort out club finances and seek a new savior, assuming cash flows suffice for player salaries and other obligations, Audickas said in a March 15 phone interview from Kaunas, where Ukio is based. A supporters group is in talks to acquire the club.
“If anyone wants to try to rescue the club, they should be talking with UBIG,” he said.
Hearts was founded in 1874 (http://www.heartsfc.co.uk/page/HeartsHistory/0,,10289,00.html), a year before Edinburgh rival Hibernian, and named after a dancing club in the city during the Victorian era. The team, which plays in maroon and white, last won the Scottish championship in 1960, a league that has been dominated by Glasgow clubs Rangers and Celtic.
Cup VictoriesThere was some success under Romanov. After building his stake in Hearts, he assumed its debt, 19.2 million pounds at the time, and looked into expanding the stadium or replacing it.
On the field, things started looking up during the first season of Romanov’s tenure. As Hearts won games, its 18,000-seat Tynecastle stadium sold out, up from an average attendance of 12,000 the previous season. Hearts finished second in the league and qualified for the Champion’s League preliminary rounds.
Hearts went on to win the Scottish Cup in 2006 and again last year, beating Hibernian in the final. It lost to St. Mirren in the final of the second-tier League Cup last weekend.
“For all the criticism, there have been two cup wins and I grew up thinking Hearts were never going to win anything,”Graeme Downie, 32, a communications consultant and a Hearts season-ticket holder, said on March 14. “He took us over in a bad state, and if he hands us over to someone else in the same way, after two trophies, I don’t think I can complain.”
Revolving DoorIn the club, Romanov appointed Lithuanians, including his son, to the board and gained a reputation for firing managers. Laszlo, 49, a Romanian-born Hungarian, is among 10 managers (http://www.heartsfc.co.uk/page/Managers/0,,10289,00.html) to have come and gone at Hearts under Romanov.
Laszlo said he was fired in early 2010 after 18 months in the job and seven straight victories. No explanation was ever given, he said by telephone on March 12. Laszlo is currently coach of the Lithuanian national team.
The problem for Romanov is that while he has “many good business ideas,” his associates don’t challenge the ones that aren’t so good, according to Laszlo. Manager John McGlynn, who started in June, left at the end of last month by mutual agreement, according to the club’s website. Gary Locke (http://topics.bloomberg.com/gary-locke/), a former Hearts player, was named to replace him on March 16.
Romanov, who served on a Soviet nuclear submarine and worked as a taxi driver and electrician, said last week he’s structured his diverse businesses to “insure” them against“thieves” and “perverts.” He intends to fight for his property in court against Lithuanian authorities.
Needing MoneyFC Kaunas, a soccer club in Lithuania’s second-biggest city, closed in 2012 after Romanov withdrew the previous year. Zalgiris basketball club, also in Kaunas and 75 percent owned by UBIG, this month asked for financial help from fans to survive.
As for Hearts, Romanov said realizing the club’s potential demands more resources than he now has. He’s seeking outside investors to help rescue and revive the Edinburgh squad. “We could sell part of the club, or all of it,” he said.
Hearts Director Sergejus Fedotovas said on March 4 by e-mail that a “number of investors” expressed interest “without any detailed proposal as to acquisition or otherwise.”
Alex Mackie of Foundation of Hearts (http://www.foundationofhearts.org/), a group that wants to buy it on behalf of fans, said it won’t be easy to save the club because it’s losing about 2 million pounds a year as well as players. Banks won’t lend, investors aren’t likely to pay Romanov what he thinks his shares are worth, and other shareholders now have empty pockets after the recent stock sale.
“He’s not lived up to what he promised,” said Downie, the season-ticket holder. “But any Hearts fan who believed everything he said at the time was very naïve.”

[cockneymike]

I reckon that that bloomberg piece is the best article on ugly bunch's situation I've seen. Most disappointing bit is the fact that the administrator is going to take a few months to chase them for the money.

[robinp]

Can we now add Bloomberg to the exhaustive list (SFA, PFA, UEFA, FIFA, NASA, FBI, CBI, BBC, ITV, SKY, ESPN) of organizations with an anti-hearts agenda?

[Smidge]

http://www.bloomberg.com/news/2013-03-20/failed-baltic-bank-raises-risk-of-broken-hearts-1-000-miles-away.html

Found this part interesting in particular...



Rather than become a new home fit for elite European competition, Hearts’s Tynecastle stadium in the west of the Scottish capital is pledged to Ukio as security for debts, as are the shares that give him control of the club.


This would suggest, contrary to Banderson, that Vlad is nowhere near in control of Hearts. If the shares in Hearts - I am guessing that is UBIG's c75% stake - are pledged in security to Ukio Bankas, then nothing can happen to them without Ukio Bankas say. Unless the pledge documents, assuming the situation is similar to our legal system, have a specific mechanism for release of that part of the security: e.g. repayment of a specific amount of debt. Which would of course come back to the whole point that any purchaser of the Yams would need very deep pockets.

A distinction also needs to be made between the assigned security - the specific security over the PBS and the floating charge - as the share pledge will have no relation to their debt to UBIG. It solely concerns UBIG's debt to Ukio and, if that is in default, that 75% shareholding could conceivably transfer.

But this part is also interesting...


Hearts fans “certainly have time” to sort out club finances and seek a new savior, assuming cash flows suffice for player salaries and other obligations, Audickas said in a March 15 phone interview from Kaunas, where Ukio is based. A supporters group is in talks to acquire the club.
“If anyone wants to try to rescue the club, they should be talking with UBIG,” he said.

That suggests to me that a default of UBIG's debt to Ukio Bankas has not yet been triggered. The situation would necessarily be different if the default had been triggered and the security was in the process of being called-up. However, if a default is in progress, then it contradicts the earlier statement about the share pledge.

I think that the "due diligence" might take a wee while...

[bingo70]

I reckon that that bloomberg piece is the best article on ugly bunch's situation I've seen. Most disappointing bit is the fact that the administrator is going to take a few months to chase them for the money.

That's if they don't run out of cash which sounds like is a real possibility.

Also, assuming ubig still go tits up soon hearts could very well be playing first division football by the time they start to get on hearts case for the debt.

[007 Mickey Weir]

http://www.bloomberg.com/news/2013-03-20/failed-baltic-bank-raises-risk-of-broken-hearts-1-000-miles-away.html

Good article! Someone should send to #allisbarry and show how to write a true article about that bunch!!!

[dangermouse]

loved this bit


Hearts was founded in 1874, a year before Edinburgh rival Hibernian, and named after a dancing club in the city

:faf::faf::faf:

[Hibby Kay-Yay]

loved this bit



:faf::faf::faf:

Callum Elliot was merely performing an ancient dance that represented the birth of Homfc

[Oscar T Grouch]

Good article! Someone should send to #allisbarry and show how to write a true article about that bunch!!!

Done :greengrin

[JeMeSouviens]

I think somebody has probably already asked this, (and answered - please be patient with my slow-wittedness!) but if UBIG forgive all the debt now, and off-load them to some Gorgie newsagent for a tenner, can future administrators / liquidators object to that sale?

That's like saying could you sell your mortgaged house to a bloke down the pub without the bank you're mortgaged to having any say. I very much doubt UBIG are in a position to forgive anything but they certainly can't forgive the £6.8M debt secured on Tiny unless the Lithuanian state bank says they can.

[s.a.m]

That's like saying could you sell your mortgaged house to a bloke down the pub without the bank you're mortgaged to having any say. I very much doubt UBIG are in a position to forgive anything but they certainly can't forgive the £6.8M debt secured on Tiny unless the Lithuanian state bank says they can.

That was the analogy I had in mind, and I kind of hoped that would be the answer.:greengrin

Howevvvvvvvvver.......would it not be more like RBS, or some other mortgage or debt holder, on the brink of going bust, saying: "Aye, OK. What the ****. You can have it for free! That'll teach the regulatory *******."

Would whoever was in charge of sorting out the mortgage lender's affairs, post-bust, be able to say: "Actually.....naw. I think you'll find they had no business doing that. Settle up. Now"

[Fife-Hibee]

Highland dancers since 1874 !!

[JeMeSouviens]

That was the analogy I had in mind, and I kind of hoped that would be the answer.:greengrin

Howevvvvvvvvver.......would it not be more like RBS, or some other mortgage or debt holder, on the brink of going bust, saying: "Aye, OK. What the ****. You can have it for free! That'll teach the regulatory *******."

Would whoever was in charge of sorting out the mortgage lender's affairs, post-bust, be able to say: "Actually.....naw. I think you'll find they had no business doing that. Settle up. Now"

UKIO held the security, it now resides with the Bank of Lithuania. The chance for that kind of caper is long gone. :wink:

[s.a.m]

UKIO held the security, it now resides with the Bank of Lithuania. The chance for that kind of caper is long gone. :wink:

:aok:

[JimBHibees]

What about this bit, seems to suggest UBIG would be able to negotiate without Administrators approval.

Hearts fans “certainly have time” to sort out club finances and seek a new savior, assuming cash flows suffice for player salaries and other obligations, Audickas said in a March 15 phone interview from Kaunas, where Ukio is based. A supporters group is in talks to acquire the club.
“If anyone wants to try to rescue the club, they should be talking with UBIG,” he said.

[SmashinGlass]

That was the analogy I had in mind, and I kind of hoped that would be the answer.:greengrin

Howevvvvvvvvver.......would it not be more like RBS, or some other mortgage or debt holder, on the brink of going bust, saying: "Aye, OK. What the ****. You can have it for free! That'll teach the regulatory *******."

Would whoever was in charge of sorting out the mortgage lender's affairs, post-bust, be able to say: "Actually.....naw. I think you'll find they had no business doing that. Settle up. Now"

It would absolutely 100% be challenged. In technical terms its called gratuitous alienation, in layman's terms the disposal of an asset at undervalue. Any insolvency practitioner appointed would seek to reduce the transaction.

[JeMeSouviens]

What about this bit, seems to suggest UBIG would be able to negotiate without Administrators approval.

Hearts fans “certainly have time” to sort out club finances and seek a new savior, assuming cash flows suffice for player salaries and other obligations, Audickas said in a March 15 phone interview from Kaunas, where Ukio is based. A supporters group is in talks to acquire the club.
“If anyone wants to try to rescue the club, they should be talking with UBIG,” he said.

Yes, but with the secured debt paid off or left firmly in place. Nobody will buy Hearts under those conditions when they have the option of waiting a few months and hoping there's an opportunity to pick up the bits cheaply.

[Treadstone]

That's if they don't run out of cash which sounds like is a real possibility.

Also, assuming ubig still go tits up soon hearts could very well be playing first division football by the time they start to get on hearts case for the debt.

Think you're right the money running oot is the biggest concern for HoMFC and that is a matter of weeks.

Anybody seen the film 'The Grey' ?

SPOILER ALERT

Liam Neeson is leading a team of plane crash survivors to safety away from some nasty wolves he is actually leading them to the wolves lair. They all die in the end!

[greenginger]

What about this bit, seems to suggest UBIG would be able to negotiate without Administrators approval.

Hearts fans “certainly have time” to sort out club finances and seek a new savior, assuming cash flows suffice for player salaries and other obligations, Audickas said in a March 15 phone interview from Kaunas, where Ukio is based. A supporters group is in talks to acquire the club.
“If anyone wants to try to rescue the club, they should be talking with UBIG,” he said.


I think that is a " Cardigan wearers, please don't waste my time with your sob stories, my country has been dipped for several billion euro and your worried about a dancing club that plays football. "

The admin is right though, agreement to sell Yam F C shares first have to be agreed with UBIG then it would be up to the admin. to release the security on the football club shareholding if it was best value for the Bank's creditors.

Another thought though, should the fact that the majority share holding in HOMFC is being used as security for its holding companies debts not have been made public knowledge by way of Companies House or at the very least in the share issue prospectus.

[cam75]

Think you're right the money running oot is the biggest concern for HoMFC and that is a matter of weeks.

Anybody seen the film 'The Grey' ?

SPOILER ALERT

Liam Neeson is leading a team of plane crash survivors to safety away from some nasty wolves he is actually leading them to the wolves lair. They all die in the end!
Ok was going to watch it but no need now :-)

[JimBHibees]

I think that is a " Cardigan wearers, please don't waste my time with your sob stories, my country has been dipped for several billion euro and your worried about a dancing club that plays football. "

The admin is right though, agreement to sell Yam F C shares first have to be agreed with UBIG then it would be up to the admin. to release the security on the football club shareholding if it was best value for the Bank's creditors.

Another thought though, should the fact that the majority share holding in HOMFC is being used as security for its holding companies debts not have been made public knowledge by way of Companies House or at the very least in the share issue prospectus.

You would have thought so?

[HIBERNIAN-0762]

Once again I would like to say that the plight of Dunfermline seems to be sealed and they will close in 7 days if a solution isn't found yet there is not a peep about this manky mob up the road in the press or anywhere else for that matter regarding the money they owe and all the loopholes they are using to squirm out of it, when will the Scottish media wake up and smell the freshly baked cakes?

:grr:

[Treadstone]

Banderson with a sniffy tweet telling people to calm down and Yams were paid on the 16th. Less forecoming (nowt) on my 6th request asking if the share certificates have been posted out.

[CropleyWasGod]

Another thought though, should the fact that the majority share holding in HOMFC is being used as security for its holding companies debts not have been made public knowledge by way of Companies House or at the very least in the share issue prospectus.

On the first point, no. UBIG is not a UK company, therefore there is no requirement.

That probably also holds true for the second point, technically, although from the point of view of transparency I agree with you. Their defence, and it's a reasonable one, would be "you're the buyer. You do your homework."

[Moulin Yarns]

Once again I would like to say that the plight of Dunfermline seems to be sealed and they will close in 7 days if a solution isn't found yet there is not a peep about this manky mob up the road in the press or anywhere else for that matter regarding the money they owe and all the loopholes they are using to squirm out of it, when will the Scottish media wake up and smell the freshly baked cakes?

:grr:

Them and oldco.

Hearts £1.8m owed, solution? Pay over a period of time.

Oldco, something like £45m owed, solution? Farce of administration, sell the assets for peanuts and screw the creditors.

Pars £134k owed, solution? Liquidate them immediately.

Farce.


Banderson with a sniffy tweet telling people to calm down and Yams were paid on the 16th. Less forecoming (nowt) on my 6th request asking if the share certificates have been posted out.

I can't believe they were paid on a SATURDAY.

[brog]

Found this part interesting in particular...


I agree, maybe I've missed it but I hadn't previously seen that the Mad One had put his ownership of the Yambo Dancing Club as security along with the PBS. Can anyone say how this may change things. I guess it puts UBIG in overall control but given Vlad owns a big chunk of UBIG what's the difference?
I'm afraid it's all very complex!!





This would suggest, contrary to Banderson, that Vlad is nowhere near in control of Hearts. If the shares in Hearts - I am guessing that is UBIG's c75% stake - are pledged in security to Ukio Bankas, then nothing can happen to them without Ukio Bankas say. Unless the pledge documents, assuming the situation is similar to our legal system, have a specific mechanism for release of that part of the security: e.g. repayment of a specific amount of debt. Which would of course come back to the whole point that any purchaser of the Yams would need very deep pockets.

A distinction also needs to be made between the assigned security - the specific security over the PBS and the floating charge - as the share pledge will have no relation to their debt to UBIG. It solely concerns UBIG's debt to Ukio and, if that is in default, that 75% shareholding could conceivably transfer.

[CropleyWasGod]

Them and oldco.

Hearts £1.8m owed, solution? Pay over a period of time.

Oldco, something like £45m owed, solution? Farce of administration, sell the assets for peanuts and screw the creditors.

Pars £134k owed, solution? Liquidate them immediately.

Farce.

They are all different situations.

HMFC were faced with the same as DAFC a few months ago. They were late with PAYE, and had a winding-up order against them. They paid, so HMRC's tactics worked; they are trying the same with DAFC. The investigation settlement is different; HMRC know they will get nothing if they push for immediate payment, so they are hoping to get the money when HMFC are at their most cash-rich.

The RFC situation is, of course, ongoing.

[Treadstone]

I can't believe they were paid on a SATURDAY.

I stay around the corner from the Wongadome I think that may be why they had the crash barriers out on Sunday. Can't be any other reason!

[Springbank]

Loved vlad's direct quotes there. The words Gary Locke thieves and perverts.

Sounds like a good strap line for a yamanagement book: the Romanov years | Gary Locke thieves and perverts

[greenginger]

On the first point, no. UBIG is not a UK company, therefore there is no requirement.

That probably also holds true for the second point, technically, although from the point of view of transparency I agree with you. Their defence, and it's a reasonable one, would be "you're the buyer. You do your homework."

Would there not be a right of anybody doing business with HOMFC, giving them extended credit ( I know :rolleyes: ) or providing services, for them to know of circumstances that materially affect that company's ( HOMFC ) future.

[PatHead]

They are all different situations.

HMFC were faced with the same as DAFC a few months ago. They were late with PAYE, and had a winding-up order against them. They paid, so HMRC's tactics worked; they are trying the same with DAFC. The investigation settlement is different; HMRC know they will get nothing if they push for immediate payment, so they are hoping to get the money when HMFC are at their most cash-rich.

The RFC situation is, of course, ongoing.

You mean cash rich when they receive the transfer money from The Rangers (which they have already received) and have no source of income with it being close season?

[CropleyWasGod]

You mean cash rich when they receive the transfer money from The Rangers (which they have already received) and have no source of income with it being close season?

I was meaning the season ticket money, which will be rolling in :greengrin

The deal would have been agreed with HMRC before the Rangers money was settled early.


Would there not be a right of anybody doing business with HOMFC, giving them extended credit ( I know :rolleyes: ) or providing services, for them to know of circumstances that materially affect that company's ( HOMFC ) future.

There is a moral right, of course, and there are probably specific legal rights as well. However, it's common sense not to buy anything without some sort of background check.

I wouldn't, of course, expect any supporter to do that sort of check.....but they bought the shares on an emotional basis, not a commercial one. A fact that VR knew only too well.

[blindsummit]

So I've just logged on (it's 7.30 am here in the Demented Dominion) and I was looking for confirmation that they have (or indeed haven't) paid over to us the Derby ticket cash. Anyone got any info on this? Isn't today the deadline?

[Phil MaGlass]

So I've just logged on (it's 7.30 am here in the Demented Dominion) and I was looking for confirmation that they have (or indeed haven't) paid over to us the Derby ticket cash. Anyone got any info on this? Isn't today the deadline?

Wouldnt it be a hoot if we were the ones to push them into administration, hahaha...

[Craig_in_Prague]

They are all different situations.

HMFC were faced with the same as DAFC a few months ago. They were late with PAYE, and had a winding-up order against them. They paid, so HMRC's tactics worked; they are trying the same with DAFC. The investigation settlement is different; HMRC know they will get nothing if they push for immediate payment, so they are hoping to get the money when HMFC are at their most cash-rich.

The RFC situation is, of course, ongoing.

the investigation was for 'tax avoidance' I'm sure on players that earned ridiculous money... and all are historic events that happened, which to me, means any taxes due should be immediately due. How the hell they got a 3 year installment plan, is beyond me. Well, it's obvious, political intervention.

I don't care if they would not have got the money immediately, that's when it should be due!
If they can't pay it, then they should be liquidated.

Will HMRC deal with other businsses like this, that do dodgy dealings and own the government monies?

The sooner these cheats die and get what they deserve, the better.

[CropleyWasGod]

the investigation was for 'tax avoidance' I'm sure on players that earned ridiculous money... and all are historic events that happened, which to me, means any taxes due should be immediately due. How the hell they got a 3 year installment plan, is beyond me. Well, it's obvious, political intervention.

I don't care if they would not have got the money immediately, that's when it should be due!
If they can't pay it, then they should be liquidated.

Will HMRC deal with other businsses like this, that do dodgy dealings and own the government monies?

The sooner these cheats die and get what they deserve, the better.

Sorry i can't agree.

HMRC are commercialy aware , as they should ne. Had they insisted on full payment on completion of the investigation, they would have got nothing ....including the PAYE and VAT for the currentw months. This way, they get that PLUS a stab at the big money .

That is how they.operate these days with most.businesses .

[Craig_in_Prague]

Sorry i can't agree.

HMRC are commercialy aware , as they should ne. Had they insisted on full payment on completion of the investigation, they would have got nothing ....including the PAYE and VAT for the currentw months. This way, they get that PLUS a stab at the big money .

That is how they.operate these days with most.businesses .

So why can't they offer Dunfermline to pay over 3 years, a measly 134K?

It is taxes due, so I don't care if they are 'different' circumstances, it's still monies due for past events.
Hearts had a big tax bill and have recieved terribly favourable treatment IMO.

[Treadstone]

Sorry i can't agree.

HMRC are commercialy aware , as they should ne. Had they insisted on full payment on completion of the investigation, they would have got nothing ....including the PAYE and VAT for the currentw months. This way, they get that PLUS a stab at the big money .

That is how they.operate these days with most.businesses .

Think this was a settlement as well, stopped both parties arguing their case (although the onus was on the Yams to prove otherwise). Yams got £300k off the original request for £1.8m and an instalment plan, HMRC got a pledge to pay a £1.5m bill (repayments pending) on a case they might have lost (unlikely but look at Oldco)

[Caversham Green]

Think this was a settlement as well, stopped both parties arguing their case (although the onus was on the Yams to prove otherwise). Yams got £300k off the original request for £1.8m and an instalment plan, HMRC got a pledge to pay a £1.5m bill (repayments pending) on a case they might have lost (unlikely but look at Oldco)

That's right. HMRC was by no means sure of winning the case if it went to a tribunal, and if they had lost they would have got zip (although they would have got it immediately). there was also no precedent to be set as the circumstances were very specific to HoMFC so getting £1.5m (which must be close to the net amount they would have got after costs if they actually won the case) was probably a real result for them, even if it is spread over a number of years. As CWG says HoMFC could also have taken the insolvency route if they had lost the case, and I suspect their representatives threatened to do exactly that, and again HMRC would have incurred the tribunal costs and got sod all at the end of it.

The only down side is that they missed the oppotunity to put the yams out of business.

[Leithenhibby]

http://mobile.bloomberg.com/news/2013-03-20/failed-baltic-bank-raises-risk-of-broken-hearts-1-000-miles-away.html

Pick the bones out this!.. ;-)

[brog]

That's right. HMRC was by no means sure of winning the case if it went to a tribunal, and if they had lost they would have got zip (although they would have got it immediately). there was also no precedent to be set as the circumstances were very specific to HoMFC so getting £1.5m (which must be close to the net amount they would have got after costs if they actually won the case) was probably a real result for them, even if it is spread over a number of years. As CWG says HoMFC could also have taken the insolvency route if they had lost the case, and I suspect their representatives threatened to do exactly that, and again HMRC would have incurred the tribunal costs and got sod all at the end of it.

The only down side is that they missed the oppotunity to put the yams out of business.

Of course thats only true if they actually get the money. If Yams go bust before all payments were made then do HMRC not now just join the list of creditors? I know preferred status changed re employees but not sure where HMRC would be on the ladder.

[Treadstone]

That's right. HMRC was by no means sure of winning the case if it went to a tribunal, and if they had lost they would have got zip (although they would have got it immediately). there was also no precedent to be set as the circumstances were very specific to HoMFC so getting £1.5m (which must be close to the net amount they would have got after costs if they actually won the case) was probably a real result for them, even if it is spread over a number of years. As CWG says HoMFC could also have taken the insolvency route if they had lost the case, and I suspect their representatives threatened to do exactly that, and again HMRC would have incurred the tribunal costs and got sod all at the end of it.

Freakin' loved that line.:top marks

[Caversham Green]

Of course thats only true if they actually get the money. If Yams go bust before all payments were made then do HMRC not now just join the list of creditors? I know preferred status changed re employees but not sure where HMRC would be on the ladder.

You're right, but by deferring the payment HMRC removed the threat of immediate insolvency where they were sure to get nothing and replaced it with at least some chance of getting their money in the future - if they do end up with nothing at least they haven't incurred the costs of the tribunal.

HoMFC are in negative equity so all avaiable funds from an insolvency event would go on the secured debt and the other creditors would get nothing. That's why I can't see a conventional administration working, because they wouldn't be able to CVA their way out of it.

[Treadstone]

Of course thats only true if they actually get the money. If Yams go bust before all payments were made then do HMRC not now just join the list of creditors? I know preferred status changed re employees but not sure where HMRC would be on the ladder.

As a Hibs fan HMRC have failed me miserably.

As a taxpayer HMRC have arrived at the best solution for the taxpayer. Should HMRC get shafted for their money I will console myself with the winding up order bestowed on HoMFC with no room for manoeuvre.

[blindsummit]

http://mobile.bloomberg.com/news/2013-03-20/failed-baltic-bank-raises-risk-of-broken-hearts-1-000-miles-away.html

Pick the bones out this!.. ;-)

Very interesting article indeed. Seems like some supporters still seem to think that winning two cups was worth the mess Vlad will leave behind, which increasingly looks to me like liquidation eventually. Fools.

Interestingly even FOH seem to recognise that they are deep in the cack and there is no wishful thinking moonbeams solution.

And this thing about being formed a year before us. I know the ****s claim this is true, but isn't it the fact there is no actual documentary proof of this?

[Gus Fring]

http://mobile.bloomberg.com/news/2013-03-20/failed-baltic-bank-raises-risk-of-broken-hearts-1-000-miles-away.html

Pick the bones out this!.. ;-)

Refreshing to see a proper news outlet reporting the facts as we've known them for a while instead of the bottle merchants we have in the press in Scotland.

[JimBHibees]

Refreshing to see a proper news outlet reporting the facts as we've known them for a while instead of the bottle merchants we have in the press in Scotland.

Yep we really must have one of the worst press ranks in the world with a few notable exceptions. Too busy trying to keep in with their mates and ingratiate themselves to the supposed people in power. Alex Thompson summed them up well, succulent lambs or yams in this case. :greengrin

Quite pathetic really.

[Treadstone]

Refreshing to see a proper news outlet reporting the facts as we've known them for a while instead of the bottle merchants we have in the press in Scotland.

Nice succinct timeline of events soured by letting Czaba Laszlo write his own contribution 'Laszlo said he was fired in early 2010 after 18 months in the job and seven straight victories'. Bit like when he claimed Hibs had never beaten him.:yw: