Share Transfers Agreed/Cooling off period

[Kato]

What a load of pish. Does he really think that the Lithuanian central bank will give a monkeys about the fate of homfc just because they are holding the eu presidency in october, I can't believe the scotsman are printing that drivel

Every angle of the reporting from that organ is designed to calm the nerves of the jamboroids, piles of pressure on The Scotsman to keep them from slitting their wrists.

Won't affect Hearts.
Nothing to worry about.
Self-sufficient now.
Why would they shut down little old us.

Bag of sh***

[lord bunberry]

I can

I can see the situation now, the central bank decides to call in the hearts debt only to be vetoed by the Lithuanian goverment because they are worried what the germans might think

[God Petrie]

This guy Murray has not got a clue and he is an MP !

One example.

" The £15 million that Hearts owe to Ukio ( Bankas ) , the Bank in turn owes this money to UBIG. :confused:


Its late, but if my brain is still working it is UBIG that owes a sh*tload of dosh to the Bank.

Translation: I have not got a scooby what's going on but let's assume the best because that has worked out great for us so far.

[Kato]

This guy Murray has not got a clue and he is an MP !



Why the exclamation mark?

These guys open their gobs and let their over-filled, expense stuffed stomachs rumble. Waffle is their currency.

[greenginger]

Nobody in Lithland batted an eyelid when Vlad closed down Kaunas F C and they had a bit of Champions League exposure.

[lord bunberry]

Nobody in Lithland batted an eyelid when Vlad closed down Kaunas F C and they had a bit of Champions League exposure.

Its because they weren't chairing the european council that year

[Saorsa]

Nobody in Lithland batted an eyelid when Vlad closed down Kaunas F C and they had a bit of Champions League exposure.A bit! The yams won that did they no? cannae shut them doon then

[JoeTortolanoFanClub]

This guy Murray has not got a clue and he is an MP !

One example.

" The £15 million that Hearts owe to Ukio ( Bankas ) , the Bank in turn owes this money to UBIG. :confused:


Its late, but if my brain is still working it is UBIG that owes a sh*tload of dosh to the Bank.

And another...Lithuania actually takes over the Presidency of the Council of Ministers of the European Union in July and not "in October"...not that it is relevant anyway as the Bank of Lithuania is independent of the Lithuanian Government.

And to think our taxes pay this guy's salary...and allowances !

[greenginger]

Why the exclamation mark?

These guys open their gobs and let their over-filled, expense stuffed stomachs rumble. Waffle is their currency.

Have you seen his constituency office at the top of Minto Street, Its painted Green top to bottom. :confused:

[No.4]

Trough-Snouted parasitic professional Con-Artist/MP sticks his oar in.

http://www.scotsman.com/sport/football/top-football-stories/murray-ukio-bankas-hearing-won-t-threaten-hearts-1-2916555

First of all Der Hun turned to Green & Whyte to save them when it went teets up and now the Yams are pinning their hopes on someone called Ian Murray... Am I the only one who thinks that's a bit weird?!

[Springbank]

...whereas us peg selling hobos only had a knighted captain of industry to turn to in our hour of need.

[Col2]

Trough-Snouted parasitic professional Con-Artist/MP sticks his oar in.

http://www.scotsman.com/sport/football/top-football-stories/murray-ukio-bankas-hearing-won-t-threaten-hearts-1-2916555

So they wont go under for political reasons?

And its best for Lithuanians to wait for 10p in the pound bid from a fans group then follow through on insolvency procedures?

And this approach will only happen for Hearts where as the rest of the UKIO debt will be called in through liquidation (I.e Hearts will be ring fenced and treated as a special case)?

Is that about the sum of it?

Me? I'm convinced.

[IWasThere2016]

Bob, the Big Issue will be HMFC's main source of income next season.

May they should run as a special Yam edition - the (U)Big Issue?

[bighairyfaeleith]

So this genius mp reckons nobody else will offer more than 2million for hearts assets so best to take the foundations offer. I hope no hibees vote for this plum of a man as he is clearly a bit dim

Sent from my LT30p using Tapatalk 2

[lapsedhibee]

I can see the situation now, the central bank decides to call in the hearts debt only to be vetoed by the Lithuanian goverment because they are worried what the germans might think

Shirley Germans aren't going to be very sympathetic towards the yams, after losing two world wars to them.

[Joy Zipper]

254 people viewing this thread and it isn't even 8.00 am yet.

80 members and 174 guests.

I wonder what team the 174 guests follow..............

[carnoustiehibee]

John brown in the Scotsman

“It has been disgusting,” he says. “I go back to the Italians, and the money they spent – how the hell could they afford what they were doing on the back of crowds of 5,600? Well, the answer is they could not afford it.

“It’s a bit like Hearts’ cup final when they beat Hibs, and they had boys on eight or ten grand, they could not afford that. Is that them cheating to win a cup final?

“Look at the state they are in, they could be going into administration themselves. The responsibility is on the owners for the management of the clubs, whether that’s Dunfermline or, in the past, Dundee, or what’s happened at Rangers, too.”

[Treadstone]

254 people viewing this thread and it isn't even 8.00 am yet.

80 members and 174 guests.

I wonder what team the 174 guests follow..............

I don't blame the guests any dissent on Brokeback and the Stasi shut them down.

[Platinum Scotty]

John brown in the Scotsman

“It has been disgusting,” he says. “I go back to the Italians, and the money they spent – how the hell could they afford what they were doing on the back of crowds of 5,600? Well, the answer is they could not afford it.

“It’s a bit like Hearts’ cup final when they beat Hibs, and they had boys on eight or ten grand, they could not afford that. Is that them cheating to win a cup final?

“Look at the state they are in, they could be going into administration themselves. The responsibility is on the owners for the management of the clubs, whether that’s Dunfermline or, in the past, Dundee, or what’s happened at Rangers, too.”


I agree on those points, should stir a few of the Yams who normally post on the Scotsman up...............

[Spender]

Shirley Germans aren't going to be very sympathetic towards the yams, after losing two world wars to them.

just about choked on my cornflakes :faf:

[Ozyhibby]

John brown in the Scotsman

“It has been disgusting,” he says. “I go back to the Italians, and the money they spent – how the hell could they afford what they were doing on the back of crowds of 5,600? Well, the answer is they could not afford it.

“It’s a bit like Hearts’ cup final when they beat Hibs, and they had boys on eight or ten grand, they could not afford that. Is that them cheating to win a cup final?

“Look at the state they are in, they could be going into administration themselves. The responsibility is on the owners for the management of the clubs, whether that’s Dunfermline or, in the past, Dundee, or what’s happened at Rangers, too.”

John Brown speaking sense again. He's beginning to make a habit of that.

[Bostonhibby]

A bit! The yams won that did they no? cannae shut them doon then

Indeed! Didn't they win the European Council as well? Sure that was one of the targets on the Dear Leaders believe list.

[SaulGoodman]

John brown in the Scotsman

“It has been disgusting,” he says. “I go back to the Italians, and the money they spent – how the hell could they afford what they were doing on the back of crowds of 5,600? Well, the answer is they could not afford it.

“It’s a bit like Hearts’ cup final when they beat Hibs, and they had boys on eight or ten grand, they could not afford that. Is that them cheating to win a cup final?

“Look at the state they are in, they could be going into administration themselves. The responsibility is on the owners for the management of the clubs, whether that’s Dunfermline or, in the past, Dundee, or what’s happened at Rangers, too.”

Oh, I suddenly like John Brown again, always said he spoke sense :greengrin:

[JeMeSouviens]

Where did this £15M to UKIO come from? Thought almost all their debt was to UBIG?

[bighairyfaeleith]

I'm still a little bit shocked that a member of parliament has come out and backed a football club to be able to walk away from it's debts, does this mean he is saying it's ok for businesses to tade in such a manner. I wonder if this is labour policy now:hmmm:

Maybe we should ask his party.

[Part/Time Supporter]

I'm still a little bit shocked that a member of parliament has come out and backed a football club to be able to walk away from it's debts, does this mean he is saying it's ok for businesses to tade in such a manner. I wonder if this is labour policy now:hmmm:

Maybe we should ask his party.

And if that fails, try to intimidate the Lithuanian Govt. by making vague threats against their presidency of the Council of the European Union.

[s.a.m]

BBCBMcLauchlin‏@BBCBMcLauchlin1m (http://www.hibs.net/BBCBMcLauchlin/status/329868269953622016)Hearts owe Ukio Bankas around £15 million. Debt likely to be recalled if bankruptcy approved #bbcsportscot (http://www.hibs.net/search?q=%23bbcsportscot&src=hash)

[Geo_1875]

And if that fails, try to intimidate the Lithuanian Govt. by making vague threats against their presidency of the Council of the European Union.

And they're going to take notice of a member of the UK opposition party.

[Craig_in_Prague]

BBCBMcLauchlin‏@BBCBMcLauchlin1m (http://www.hibs.net/BBCBMcLauchlin/status/329868269953622016)Hearts owe Ukio Bankas around £15 million. Debt likely to be recalled if bankruptcy approved #bbcsportscot (http://www.hibs.net/search?q=%23bbcsportscot&src=hash)

Today, could be oh so nice.

[Mikey]

BBCBMcLauchlin‏@BBCBMcLauchlin1m (http://www.hibs.net/BBCBMcLauchlin/status/329868269953622016)Hearts owe Ukio Bankas around £15 million. Debt likely to be recalled if bankruptcy approved #bbcsportscot (http://www.hibs.net/search?q=%23bbcsportscot&src=hash)

Which would presumably prompt Hearts to go into administration immediately..............................

[Dalkeith]

Which would presumably prompt Hearts to go into administration immediately.............................. that's more like it

[lord bunberry]

BBCBMcLauchlin‏@BBCBMcLauchlin1m (http://www.hibs.net/BBCBMcLauchlin/status/329868269953622016)Hearts owe Ukio Bankas around £15 million. Debt likely to be recalled if bankruptcy approved #bbcsportscot (http://www.hibs.net/search?q=%23bbcsportscot&src=hash)

Well that's just put a spring in my step

[TrinityHibs]

What time is the decision? I have to go to a meeting and would hate to miss the fun and games.

[green glory]

BBCBMcLauchlin‏@BBCBMcLauchlin1m (http://www.hibs.net/BBCBMcLauchlin/status/329868269953622016)Hearts owe Ukio Bankas around £15 million. Debt likely to be recalled if bankruptcy approved #bbcsportscot (http://www.hibs.net/search?q=%23bbcsportscot&src=hash)

Not sure his figures are 100%, however I think any attempt to recover any debt in the millions can only spell one thing.

Yes you guessed it.

JAMBOGEDDON !!!

[Billy Whizz]

Got tickets for the derby next week. Wonder who the money will go too, Oldco, Newco, or Noco!!!!

[Sanger]

months after a more detailed assessment, in which case the
liabilities of the parties to the contract will also be revised,
the central bank said.
Bankruptcy proceedings are planned to recover remaining
assets of Ukio, including property in Scotland and elsewhere,
for creditors, among whom the deposit-insurance fund will be the
largest, according to the Bank of Lithuania.
The EBRD owns 19.6 percent of Siauliu, which after Ukio’s
collapse is Lithuania’s only publicly traded bank. Siauliu
shares rose 10 percent to 0.267 euro in Vilnius on Feb. 13, when
the lender announced plans to negotiate for Ukio’s assets, and
closed at that same level on Feb. 22.
For Related News and Information:
Lithuania company news TNI LITH COS <GO>
Top Stories: TOP <GO>
--Editors: Kristen Hallam, John Deane
To contact the reporter on this story:
Bryan Bradley in Vilnius at +44-20-7330-7500 or

[Mikey]

months after a more detailed assessment, in which case the
liabilities of the parties to the contract will also be revised,
the central bank said.
Bankruptcy proceedings are planned to recover remaining
assets of Ukio, including property in Scotland and elsewhere,
for creditors, among whom the deposit-insurance fund will be the
largest, according to the Bank of Lithuania.
The EBRD owns 19.6 percent of Siauliu, which after Ukio’s
collapse is Lithuania’s only publicly traded bank. Siauliu
shares rose 10 percent to 0.267 euro in Vilnius on Feb. 13, when
the lender announced plans to negotiate for Ukio’s assets, and
closed at that same level on Feb. 22.
For Related News and Information:
Lithuania company news TNI LITH COS <GO>
Top Stories: TOP <GO>
--Editors: Kristen Hallam, John Deane
To contact the reporter on this story:
Bryan Bradley in Vilnius at +44-20-7330-7500 or

What's your take on it? In a language the rest of us can understand :greengrin

[Gus Fring]

Could this be where the Administration rumours have come from this time?

Hearts know it's out of their hands and so they have put the pieces in place so that if the news in Lithuania doesn't go their way they can pull the trigger themselves in an attempt to gain some protection? It would certainly explain why there is apparently an administrator already lined up and why they have statements saying #AllIsBarry so they can cover all the options.

[Sanger]

What's your take on it? In a language the rest of us can understand :greengrin

This is a report from end February. The temporary administrator has carried out a thorough analysis of the assets and liabilities. They know exactly what they can and can’t recover. Loans to Hearts and UBIG (Romanov) have been classified as “bad” and part of the gap in £300 million gap in assets and liabilities. The Lithuanian state has filled the hole by issuing debt to the bank taking over the good assets and with the proceeds given a loan to the State insurance company who made good the £300 million hole. They will now attempt to recover as much of value of these assets as possible by selling them. I think they have already had discussions with Hearts who know what is coming – hence their talks with the council and having Tynecastle valued and administration to buy time.

[Geo_1875]

Could this be where the Administration rumours have come from this time?

Hearts know it's out of their hands and so they have put the pieces in place so that if the news in Lithuania doesn't go their way they can pull the trigger themselves in an attempt to gain some protection? It would certainly explain why there is apparently an administrator already lined up and why they have statements saying #AllIsBarry so they can cover all the options.

Would UBIG as present owners not need to be involved in HoMFC entering Admin? Can the club directors do that on their own?

[CropleyWasGod]

Would UBIG as present owners not need to be involved in HoMFC entering Admin? Can the club directors do that on their own?

It's a directors' decision, normally, rather than owners.

Unless, of course, an external party does it.

[littleplum]

This is a report from end February. The temporary administrator has carried out a thorough analysis of the assets and liabilities. They know exactly what they can and can’t recover. Loans to Hearts and UBIG (Romanov) have been classified as “bad” and part of the gap in £300 million gap in assets and liabilities. The Lithuanian state has filled the hole by issuing debt to the bank taking over the good assets and with the proceeds given a loan to the State insurance company who made good the £300 million hole. They will now attempt to recover as much of value of these assets as possible by selling them. I think they have already had discussions with Hearts who know what is coming – hence their talks with the council and having Tynecastle valued and administration to buy time.

So is it that today's events are a forgone conclusion or that the outcome is irrelevant?

[Off the bar]

is this it? is today the day? It seams like all the stars have alligned and somewhere in Lith there is a man with his finger on the trigger, I have high hopes that today will be a bad bad day for our pink chums

[hibs0666]

Would UBIG as present owners not need to be involved in HoMFC entering Admin? Can the club directors do that on their own?

I think that it is only the club directors, or a UK court, that can hit the insolvency button.

[grunt]

It's a directors' decision, normally, rather than owners.

Thought UBIG didn't have any Directors...?

[CropleyWasGod]

Thought UBIG didn't have any Directors...?

Hearts directors.

[DaveF]

I think I'll just assume everything is still fine as I don't understand any of the above.

If it works for the yams, then it works for me :ostrich:

[Part/Time Supporter]

I think that it is only the club directors, or a UK court, that can hit the insolvency button.

Yup, the Lithuanian court can't order HMFC into administration, but they can start a chain of events which would lead to that.

ie if the Lithuanian court declares Ukio bankrupt, that gives the Lithuanian Govt authority to demand their money back. HMFC (or some other third party, such as FOH) has to make an offer to them in repayment.

If they can't make a satisfactory offer, then HMFC has to apply for administration to protect itself from the Lithuanian demand. Administration would also give them more time for a third party offer to come forward.

[grunt]

Hearts directors.
Oh yeah, duh!

[EdinMike]

Are they dead yet !? Are they dead yet !? Are they dead yet !? Are they dead yet !?!!

This is killing me ! I want to know If I should go out and celebrate.. :greengrin

[clerriehibs]

I'm still a little bit shocked that a member of parliament has come out and backed a football club to be able to walk away from it's debts, does this mean he is saying it's ok for businesses to tade in such a manner. I wonder if this is labour policy now:hmmm:


Maybe we should ask his party.

No; not labour policy. Just a yam phandango member of parliament rehashing the "we owe it to ourselves" gibberish. He'll nevet make it to the treasury select committee. Actually, he probably wll ... :-(


And he thinks the last thing the lith govt want to do is bring down hearts? The last thing the lith govt is thinking of is a ****my wee cheating backwater club.

[Beefster]

Which would presumably prompt Hearts to go into administration immediately..............................

That can't be right. An Hearts-supporting politician said all would be fine. Where have we heard that before......?

http://farm2.static.flickr.com/1018/552498930_2bc47c909b_o.jpg

Sickbag should be like this today:

http://images.wikia.com/glee/images/0/04/Oh-noes-everybody-panic.gif

Instead, as usual with the collective brain cell asleep, its....

http://www.polyvore.com/cgi/img-thing?.out=jpg&size=l&tid=892668

[Sanger]

Yup, the Lithuanian court can't order HMFC into administration, but they can start a chain of events which would lead to that.

ie if the Lithuanian court declares Ukio bankrupt, that gives the Lithuanian Govt authority to demand their money back. HMFC (or some other third party, such as FOH) has to make an offer to them in repayment.

If they can't make a satisfactory offer, then HMFC has to apply for administration to protect itself from the Lithuanian demand. Administration would also give them more time for a third party offer to come forward.

Under European bankruptcy law if UB and then UBIG made bankrupt then the the Lithuanian authorties can make HMFC baknrupt to if its assets belong to UB/UBIG.

Hearing is this afternoon.

[Mikey]

At which point Hearts will jump before they're pushed.

[PatHead]

In all the excitement I am getting myself confused. If UBIG are put into administration/liquidation by the Lith court today do Hearts suffer the points penalty as it is their owners?

[CropleyWasGod]

Under European bankruptcy law if UB and then UBIG made bankrupt then the the Lithuanian authorties can make HMFC baknrupt to if its assets belong to UB/UBIG.

Hearing is this afternoon.

Hearts assets don't belong to either, though. They belong to Hearts.

The majority of Hearts' shares, though, belong to UBIG.

Does that make a difference?

[#FromTheCapital]

In all the excitement I am getting myself confused. If UBIG are put into administration/liquidation by the Lith court today do Hearts suffer the points penalty as it is their owners?

If UBIG are put into admin then hearts will get a points deduction. But as far as I know that won't be happening today as this hearing regards Ukio Bankas, not UBIG

[Part/Time Supporter]

Under European bankruptcy law if UB and then UBIG made bankrupt then the the Lithuanian authorties can make HMFC baknrupt to if its assets belong to UB/UBIG.

I thought the hearing today only related to the administration of Ukio and possibly declaring it bankrupt.


Hearing is this afternoon.

HMFC better get their skates on then, as it's already gone half 12 in Kaunas.

[Gus Fring]

http://i237.photobucket.com/albums/ff140/joyjoye/th_Domino.gif

[Glesgahibby]

My take on this is.
1.ukio enter proper administration/liquidated today.
2.debt recovery commences.
3.ubig cannot pay and will go into administration.
all the talk from the experts in the press seem to suggest hearts are way down the pecking order.
they fail to explain that ubig must be top of the list and as we have been told for years
ubig and hearts are one and the same.
when ubig go so do hearts:aok:

[MacBean]

My take on this is.
1.ukio enter proper administration/liquidated today.
2.debt recovery commences.
3.ubig cannot pay and will go into administration.
all the talk from the experts in the press seem to suggest hearts are way down the pecking order.
they fail to explain that ubig must be top of the list and as we have been told for years
ubig and hearts are one and the same.
when ubig go so do hearts:aok:

Pretty much sums it up, but a wee side note to UBIG going into admin, would mean Hearts would be deducted 18 points

[Joy Zipper]

BBCBMcLauchlin ‏@BBCBMcLauchlin 3m A decision from a Kaunas court on Ukio Bankas being declared bankrupt may not be made public today. #bbcsportscot

[Jones28]

So is my take on this correct?

Hearts are classified as bad assets so will be offloaded from ubig ASAP, whether that's to another buyer or they're stripped down and broken up. They want as much money from them as possible and nobody is going to buy hearts for £15million, so administration and total jambogeddon is the most likely outcome.

They are then deducted 18 points and relegated from the spl - preferably after we trounce them at tynecastle.

Is this the long and short of what might happen today?


BBCBMcLauchlin ‏@BBCBMcLauchlin 3m A decision from a Kaunas court on Ukio Bankas being declared bankrupt may not be made public today. #bbcsportscot

Why the **** not?! This is killing me

[green glory]

So is my take on this correct?

Hearts are classified as bad assets so will be offloaded from ubig ASAP, whether that's to another buyer or they're stripped down and broken up. They want as much money from them as possible and nobody is going to buy hearts for £15million, so administration and total jambogeddon is the most likely outcome.

They are then deducted 18 points and relegated from the spl - preferably after we trounce them at tynecastle.

Is this the long and short of what might happen today?

I think 'bad smell' is the phrase your looking for.

Flushing is the best solution I find.

[Geo_1875]

Why the **** not?! This is killing me

Apparently there is a delay due to a well known Russian/Lithuanian "businessman" sitting in the courtroom with his underpants on his head and a pencil up each nostril saying "Wibble, wibble".

[21.05.2016]

BBCBMcLauchlin ‏@BBCBMcLauchlin 3m A decision from a Kaunas court on Ukio Bankas being declared bankrupt may not be made public today. #bbcsportscot

if not today then when?

[EdinMike]

BBCBMcLauchlin ‏@BBCBMcLauchlin 3m A decision from a Kaunas court on Ukio Bankas being declared bankrupt may not be made public today. #bbcsportscot

:grr: Baaah ! Tell us !! Leith is gonna run dry in the next few days..

[Part/Time Supporter]

BBCBMcLauchlin ‏@BBCBMcLauchlin 3m A decision from a Kaunas court on Ukio Bankas being declared bankrupt may not be made public today. #bbcsportscot

That will be to give the affected businesses (including Hearts) time to figure out what they are going to do before it becomes public knowledge.

Hearts said earlier in the week in response to the Sun story that they would know before anyone else if they would have to go into administration.

[Hibee87]

That will be to give the affected businesses (including Hearts) time to figure out what they are going to do before it becomes public knowledge.

Hearts said earlier in the week in response to the Sun story that they would know before anyone else if they would have to go into administration.

And presumably this is where hearts would appoint their own adminstrator? :confused:

[SvenNeil]

So is my take on this correct?

Hearts are classified as bad assets so will be offloaded from ubig ASAP, whether that's to another buyer or they're stripped down and broken up. They want as much money from them as possible and nobody is going to buy hearts for £15million, so administration and total jambogeddon is the most likely outcome.

They are then deducted 18 points and relegated from the spl - preferably after we trounce them at tynecastle.

Is this the long and short of what might happen today?

Aye. Now away and take yer dug for a walk:wink:

[Mikey]

And presumably this is where hearts would appoint their own adminstrator? :confused:

Presumably.

Everyone knows it's a case of when and not if. They'll be doing all they can to hold out until June but it's out of their hands.

[Billy Whizz]

Presumably.

Everyone knows it's a case of when and not if. They'll be doing all they can to hold out until June but it's out of their hands.

Next week, derby week, would be nice

[Treadstone]

BBCBMcLauchlin ‏@BBCBMcLauchlin 3m A decision from a Kaunas court on Ukio Bankas being declared bankrupt may not be made public today. #bbcsportscot

This seems reasonably on top of things from Brian is he getting help or is this stuff readily available on t'internet. Also #allisbarry is a bit quiet today.

[grunt]

This seems reasonably on top of things from Brian is he getting help or is this stuff readily available on t'internet. Also #allisbarry is a bit quiet today.Tbf he does work for possibly the largest news organisation in the world. Barry doesn't.

[DC_Hibs]

Hearts are classified as bad assets so will be offloaded from ubig ASAP, whether that's to another buyer or they're stripped down and broken up. They want as much money from them as possible and nobody is going to buy hearts for £15million, so administration and total jambogeddon is the most likely outcome.


It won't take much breaking up. Their only realisable asset is the Savile Dome.
Their club is worth the square root of fe-k all, including the few players under contract next season.

One dilapidated stadium that's not fit for purpose, 25-30m of debt?, 1.5m tax outstanding and luckily they wrote off/swapped another £38m of debt in recent years as they'd be history already.

Roll up, Roll up.

[Off the bar]

nothing we didn't know already but a good summary of McLauchlins tweets

http://www.bbc.co.uk/sport/0/football/22382617

[clerriehibs]

That will be to give the affected businesses (including Hearts) time to figure out what they are going to do before it becomes public knowledge.

Hearts said earlier in the week in response to the Sun story that they would know before anyone else if they would have to go into administration.

Anything that hearts say can be discounted. Lying is 2nd nature to them.

[grunt]

Where does this £15m figure come from, does anybody know?
It seems to have appeared over the last week, but I haven't seen it supported by any source.

[Mikey]

Where does this £15m figure come from, does anybody know?
It seems to have appeared over the last week, but I haven't seen it supported by any source.

See post 2503 on the PM board thread. That's as good a guess as you're likely to get :greengrin

[KeithTheHibby]

Anyone else doing no work and continuing to refresh this thread?:greengrin

[Platinum Scotty]

Anyone else doing no work and continuing to refresh this thread?:greengrin

Guilty as charged!! :thumbsup:

[Westie1875]

Anyone else doing no work and continuing to refresh this thread?:greengrin

Yes! Taking too long for my liking, are they dead yet?

[Hibby Gav]

latest summary from the Beeb
http://www.bbc.co.uk/sport/0/football/22382617

[KeithTheHibby]

Guilty as charged!! :thumbsup:

Lucky I am self employed then!

As luck would have it I need to drive by Tynecastle around back of 4, will be sure to report back if there is anything happening.:greengrin

[CropleyWasGod]

latest summary from the Beeb
http://www.bbc.co.uk/sport/0/football/22382617

So, suddenly the security has jumped from £6.8m to £15m.:rolleyes:

Either HMFC haven't filed that paperwork, or it's hogdust.

[clerriehibs]

Yes! Taking too long for my liking, are they dead yet?

I'm so loving this. Apparently, we died as a club last year. Fast forward 12 months, and the motherlovers truly are staring into the abyss, while we're cheesing about yet another cup final.

Oh the irony! If we are really are dead, and this is the afterlife, I'm loving it!

Note to any yam lurkers; irony isn't one of those hot metal things you use to take the crease out of your cup final ticket (if you had one; you won't).

[PatHead]

Does anyone know if the HMRC money was due yesterday and if it was paid if so?

[blindsummit]

Good morning all!
It's 7.45 am here in sunny and warm South West Ontario. Spring has arrived at last and it's going to be a lovely day.

Just logged in at work and I have only one question.

Are these frackers not dead yet????

I am not going to get any work done today, I can tell.

:greengrin

[theonlywayisup]

No need to worry, according to Murray!

http://www.scotsman.com/sport/football/top-football-stories/ian-murray-confident-hearing-won-t-threaten-hearts-1-2916555

"There’s a political issue as well. Lithuania takes chairmanship of the European Council in October for six months. It’s the first time they’ve done it. and they want to be seen as a mature democracy and economy. The last thing the Lithuanian authorities want to do is bring down a football club in another capital city. I wouldn’t see how that’s in the interests of the creditors either."

Clutching at straws!!!!

[SaulGoodman]

Note to any yam lurkers; irony isn't one of those hot metal things you use to take the crease out of your cup final ticket (if you had one; you won't).

By looking at that ex kickback admin that got put on the register.. It's something they'd use to brand their wives :duck:

[Geo_1875]

No need to worry, according to Murray!

http://www.scotsman.com/sport/football/top-football-stories/ian-murray-confident-hearing-won-t-threaten-hearts-1-2916555

"There’s a political issue as well. Lithuania takes chairmanship of the European Council in October for six months. It’s the first time they’ve done it. and they want to be seen as a mature democracy and economy. The last thing the Lithuanian authorities want to do is bring down a football club in another capital city. I wouldn’t see how that’s in the interests of the creditors either."

Clutching at straws!!!!

But surely in these times of austerity they wouldn't want to be seen as an easy touch for dodgy dealers.

[Part/Time Supporter]

No need to worry, according to Murray!

http://www.scotsman.com/sport/football/top-football-stories/ian-murray-confident-hearing-won-t-threaten-hearts-1-2916555

"There’s a political issue as well. Lithuania takes chairmanship of the European Council in October for six months. It’s the first time they’ve done it. and they want to be seen as a mature democracy and economy. The last thing the Lithuanian authorities want to do is bring down a football club in another capital city. I wouldn’t see how that’s in the interests of the creditors either."

Clutching at straws!!!!

BTW, since when has Edinburgh become a capital city of an EU member state?

:stirrer:

[Hibeesforever]

Lucky I am self employed then!

As luck would have it I need to drive by Tynecastle around back of 4, will be sure to report back if there is anything happening.:greengrin

There have been no demonstrations there thus far, don't expected anything when the inevitable happens. Just imagining if today was the day.....Dundee to stay up ? Fantastic!

[Pretty Boy]

No need to worry, according to Murray!

http://www.scotsman.com/sport/football/top-football-stories/ian-murray-confident-hearing-won-t-threaten-hearts-1-2916555

"There’s a political issue as well. Lithuania takes chairmanship of the European Council in October for six months. It’s the first time they’ve done it. and they want to be seen as a mature democracy and economy. The last thing the Lithuanian authorities want to do is bring down a football club in another capital city. I wouldn’t see how that’s in the interests of the creditors either."

Clutching at straws!!!!

I'm sure Merkel, Hollande, Cameron et al have the yams at the forefront of their thoughts when negotiating with Lithuania.

[JimBHibees]

No need to worry, according to Murray!

http://www.scotsman.com/sport/football/top-football-stories/ian-murray-confident-hearing-won-t-threaten-hearts-1-2916555

"There’s a political issue as well. Lithuania takes chairmanship of the European Council in October for six months. It’s the first time they’ve done it. and they want to be seen as a mature democracy and economy. The last thing the Lithuanian authorities want to do is bring down a football club in another capital city. I wouldn’t see how that’s in the interests of the creditors either."

Clutching at straws!!!!

Complete nonsense that bit. Not like a yam to get a little full of his/their own importance. I am assuming the fall out of this will be a little more serious than affecting a piddly football club from thousands of miles away, there is likely to be a number of companies going under with loads of jobs lost and dont think Hearts will register very large if at all in any discussion regarding this.

[EdinMike]

http://youtu.be/mVSXgU6HLHw

******' Boo !!

[Beefster]

Angela Merkel's just been on Sky Sports News saying that she'll be working closely with Foulkes and Murray in the negotiations with Lithuania to save the club that won the First World War.

[clerriehibs]

BTW, since when has Edinburgh become a capital city of an EU member state?

:stirrer:

He can't be Labour and say that. I wonder if his bosses know of this opinion of his.

[blackpoolhibs]

Complete nonsense that bit. Not like a yam to get a little full of his/their own importance. I am assuming the fall out of this will be a little more serious than affecting a piddly football club from thousands of miles away, there is likely to be a number of companies going under with loads of jobs lost and dont think Hearts will register very large if at all in any discussion regarding this.

:agree:Hearts are about as important in this, as the newsagent was in the rangers saga.

[matty_f]

I would have thought that Vlad's vanity projects would have been high up on the wish list of funds to recover first.

[Craig_in_Prague]

Does anyone know if the HMRC money was due yesterday and if it was paid if so?

All we seem to know is that it is a lump sum (500K & not monthly installments) and due in 'May'.....not sure anyone has got better information yet as to when in May, that falls due.
This amount, could trigger administration much sooner than the mess in Lithuania.

[Phil D. Rolls]

No need to worry, according to Murray!

http://www.scotsman.com/sport/football/top-football-stories/ian-murray-confident-hearing-won-t-threaten-hearts-1-2916555

"There’s a political issue as well. Lithuania takes chairmanship of the European Council in October for six months. It’s the first time they’ve done it. and they want to be seen as a mature democracy and economy. The last thing the Lithuanian authorities want to do is bring down a football club in another capital city. I wouldn’t see how that’s in the interests of the creditors either."

Clutching at straws!!!!

Yeah, except in Europe football clubs go out of business all the time, and anyone outside Scotland doesn't care about the fate of Hearts. Does he really mean "the last thing [they] want to do"?

[#FromTheCapital]

666 people viewing this thread!

Very convenient as it looks like Hearts are going to hell!

[Hibeesforever]

Yeah, except in Europe football clubs go out of business all the time, and anyone outside Scotland doesn't care about the fate of Hearts. Does he really mean "the last thing [they] want to do"?

It is so funny (and sad that the tax payer is paying this jokers wages), more like the last thing the Lith authorities want to be seen doing is helping corrupt ex Russian submariners. It really feels like it can't be long now. Administration- relegation and then liquidation please!

[clerriehibs]

666 people viewing this thread!

Very convenient as it looks like Hearts are going to hell!

Quality!!

I suppose the news on keechbag is #allisbarry though. Those 666 are the maroon undrground, hibs.net is where THEY get updates on THEIR club.

[green glory]

666 people viewing this thread!

Very convenient as it looks like Hearts are going to hell!

\,,/ \,,/

Metal folks ken whit's gauin oan.

[KeithTheHibby]

No need to worry, according to Murray!

http://www.scotsman.com/sport/football/top-football-stories/ian-murray-confident-hearing-won-t-threaten-hearts-1-2916555

"There’s a political issue as well. Lithuania takes chairmanship of the European Council in October for six months. It’s the first time they’ve done it. and they want to be seen as a mature democracy and economy. The last thing the Lithuanian authorities want to do is bring down a football club in another capital city. I wouldn’t see how that’s in the interests of the creditors either."

Clutching at straws!!!!


Pathetic response from a yam roaster.

[JeMeSouviens]

Still mildly annoyed they missed 1/5 as the day to go bust. Still, tomorrow is quite a significant date in the calendar too ... :wink:



http://www.youtube.com/watch?v=3uA1UEowQaA

[GordonHFC]

It is so funny (and sad that the tax payer is paying this jokers wages), more like the last thing the Lith authorities want to be seen doing is helping corrupt ex Russian submariners. It really feels like it can't be long now. Administration- relegation and then liquidation please!

Any kind of 'ation' will do please.

[CropleyWasGod]

Any kind of 'ation' will do please.

Salvation?

Micturation? (Gary Locke style)

Masturbation? ( Daffy Duck Style?)

[Treadstone]

No need to worry, according to Murray!

http://www.scotsman.com/sport/football/top-football-stories/ian-murray-confident-hearing-won-t-threaten-hearts-1-2916555

"There’s a political issue as well. Lithuania takes chairmanship of the European Council in October for six months. It’s the first time they’ve done it. and they want to be seen as a mature democracy and economy. The last thing the Lithuanian authorities want to do is bring down a football club in another capital city. I wouldn’t see how that’s in the interests of the creditors either."

Clutching at straws!!!!

This is the man who said that.

https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-ash3/524624_10151890374616562_1124300017_n.jpg

[Twa Cairpets]

This is the man who said that.

https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-ash3/524624_10151890374616562_1124300017_n.jpg

The boys no' a looker

[RoYO!]

This is the man who said that.

https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-ash3/524624_10151890374616562_1124300017_n.jpg

No. No,no

[1875er]

No. No,no

Very Good!!!:thumbsup::thumbsup::thumbsup:

[lapsedhibee]

Salvation?



Nearly.

Never seen so much :drool: on a forum as here today.

[Twa Cairpets]

This is the man who said that.

https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-ash3/524624_10151890374616562_1124300017_n.jpg

Never seen in the same room at the same time

9728

[KeithTheHibby]

This is the man who said that.

https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-ash3/524624_10151890374616562_1124300017_n.jpg


I don't even know where to start with this picture.

[Teo10]

Can someone explain how they get 18 points deduction? I got explained it before but totally forgotten!

[CropleyWasGod]

Can someone explain how they get 18 points deduction? I got explained it before but totally forgotten!

It's 1/3 of the previous season's points, rounded up.

They got either 52 or 53 points last season.

[Teo10]

It's 1/3 of the previous season's points, rounded up.

They got either 52 or 53 points last season.

Knew it was something to do with a fraction of points from the previous season, cheers:thumbsup:

[Gus Fring]

Any kind of 'ation' will do please.

I believe Hearts in their desperation are looking for donations in relation to them not entering administration. There has already been hesitation about the registration of shares however. If they do go into liquidation there will be a mass celebration amongst the hibee-nation and indignation and agitation amongst the yam population. Hopefully the SPL will have no hesitation in their relegation to give morton time for preparation. I really hope there isn't much more duration to this whole situation.

:greengrin

[GordonHFC]

I believe Hearts in their desperation are looking for donations in relation to them not entering administration. There has already been hesitation about the registration of shares however. If they do go into liquidation there will be a mass celebration amongst the hibee-nation and indignation and agitation amongst the yam population. Hopefully the SPL will have no hesitation in their relegation to give morton time for preparation. I really hope there isn't much more duration to this whole situation.

:greengrin

Excellent

[andrew70]

What's happened to DeSantos? Was hoping he'd be a bit more active this afternoon?

[HUTCHYHIBBY]

Never seen in the same room at the same time

9728

Is that Iain Dowie?

[Hibby Gav]

What's happened to DeSantos? Was hoping he'd be a bit more active this afternoon?


He's still killing 99% of all household germs DEAD !!!

No wait.....that's Domestos....carry on...

[Sanger]

What's happened to DeSantos? Was hoping he'd be a bit more active this afternoon?

Been monitoting things on my Bloomberg terminal and nothing official coming out yet. Will release news as son as something happens.

[Twa Cairpets]

Is that Iain Dowie?

Stevie Fulton I believe

[Stevie Reid]

Is that Iain Dowie?

Ian Dowie was nicknamed Sloth when he played for Crystal Palace.

[andrew70]

Been monitoting things on my Bloomberg terminal and nothing official coming out yet. Will release news as son as something happens.

Thanks. Sorry for seeming impatient I just want their impending demise done and dusted.

[Mikey]

Been monitoting things on my Bloomberg terminal and nothing official coming out yet. Will release news as son as something happens.

:aok:

[Sanger]

Thanks. Sorry for seeming impatient I just want their impending demise done and dusted.
Nothing would make me happier. I am equally impatient for the biggoted cheats to go under!

[Ozyhibby]

Nearly 5pm there now. Doesn't look like anything happening today. Judge will be on golf course by now.

[jgl07]

I believe Hearts in their desperation are looking for donations in relation to them not entering administration. There has already been hesitation about the registration of shares however. If they do go into liquidation there will be a mass celebration amongst the hibee-nation and indignation and agitation amongst the yam population. Hopefully the SPL will have no hesitation in their relegation to give morton time for preparation. I really hope there isn't much more duration to this whole situation.


But if Hearts are relegated Morton will stay where they are with Dundee remaining in the SPL.

If Hearts stagger on to the end of the season and then go bust, that could open the way for Morton to be promoted with Dundee going down.

[Phil D. Rolls]

With a long winter's wait, by the window I watched.....

Tick follows tock follows tick. Think I'll put the kettle on.

[SteveHFC]

With a long winter's wait, by the window I watched.....

Tick follows tock follows tick. Think I'll put the kettle on.

I might join you :wink:

http://iruntheinternet.com/lulzdump/images/gifs/sean-of-the-dead-cup-of-tea-wait-for-it-all-to-blow-over-wink-Simon-pegg-1355226894C.gif

[Pete]

This is the man who said that.

https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-ash3/524624_10151890374616562_1124300017_n.jpg

An arrogant pratt who should have stuck to wrapping chips.

If I was in his constituency I would be going nuts. What the hell is he doing taking such an active roll in a football team in a city with two of them? He seems to have plenty to say for himself on his shop window which is accross from the minto hotel. Maybe it's time he was quizzed by hibees who he "represents" as any good politician should remain impartial when it comes to these matters.

He'll probably regurgitate any mince to make himself look good and put a positive spin on whats happening at HIS club.

The sexy parties will be in full swing shortly Mr. Murray.

[Phil D. Rolls]

I might join you :wink:

http://iruntheinternet.com/lulzdump/images/gifs/sean-of-the-dead-cup-of-tea-wait-for-it-all-to-blow-over-wink-Simon-pegg-1355226894C.gif

Best drink of the day. :greengrin

I know it's going to happen - it's this damn waiting that's killing me.

[HUTCHYHIBBY]

Ian Dowie was nicknamed Sloth when he played for Crystal Palace.

Wow! You learn something new every day! ;-)

[Dashing Bob S]

The good news is whatever happens to Los Yambolinos over the next few days is the tip of the iceberg. Administration and relegation, whilst humiliating, are small beer to the bigger issue: will they be represented ANYWHERE in Scottish football next season?

[Stevie Reid]

Wow! You learn something new every day! ;-)

Was just checking :greengrin

[Phil D. Rolls]

The good news is whatever happens to Los Yambolinos over the next few days is the tip of the iceberg. Administration and relegation, whilst humiliating, are small beer to the bigger issue: will they be represented ANYWHERE in Scottish football next season?

No, I think they will join their big brothers in the west in the English Premiership.

[Dashing Bob S]

No, I think they will join their big brothers in the west in the English Premiership.

I worry that the Premiership is a bit small beer for Hearts now and that the Bundesliga beckons. The irony of seeing them play in a country they defeated in two world wars would be delicious.

[Green Blood]

http://www.youtube.com/watch?v=YV9HUFZd8Dc

News reaches Newcastle of Hearts imminent demise!

[green glory]

@BBCBMcLauchlin: A decision has been made in a Lithuanian court that Ukio Bankas be placed into bankruptcy proceedings. @BBCSportScot

Here we go!

[bingo70]

@BBCBMcLauchlin: A decision has been made in a Lithuanian court that Ukio Bankas be placed into bankruptcy proceedings. @BBCSportScot

Here we go!

What does this mean for hearts and how quickly will it happen?

[My_Wife_Camille]

@BBCBMcLauchlin: A decision has been made in a Lithuanian court that Ukio Bankas be placed into bankruptcy proceedings.

Heeeeheeee!!! OOOOOOWWW!

[Saorsa]

@BBCBMcLauchlin: A decision has been made in a Lithuanian court that Ukio Bankas be placed into bankruptcy proceedings.

Heeeeheeee!!! OOOOOOWWW!:thumbsup::thumbsup:


Hopefully now they'll start calling in the debts.


They've had their years of cheating, now it's time tae pay the piper

[Mikey]

What does this mean for hearts and how quickly will it happen?

It's more the effect on UBIG at the moment I would think. If they're placed in administration or go bankrupt then that would trigger the 18 point deduction.

Having said that, confirmation of the bankruptcy of UKIO could prompt Hearts to go into admin themselves.

[blackpoolhibs]

Does this mean they will be looking for a new shirt sponsor?


Edit, completely forgot about wonga lol

[green glory]

@BBCBMcLauchlin: Anyone wishing to appeal against the bankruptcy order for Ukio Bankas has ten days to appeal.#bbcsprtscot

[I'm_cabbaged]

Does this mean they will be looking for a new shirt sponsor?

:)

[Pedantic_Hibee]

I am on the precipice of retracting previous comments regarding my thoughts that they would remain unharmed.

Vajazzle time, chaps :greengrin

[JeMeSouviens]

@BBCBMcLauchlin: A decision has been made in a Lithuanian court that Ukio Bankas be placed into bankruptcy proceedings. @BBCSportScot

Here we go!

That bit was a formality, wasn't it? It's the debt recovery strategy that's the interesting bit.

Paging desantos! :greengrin

[Mikey]

@BBCBMcLauchlin: Anyone wishing to appeal against the bankruptcy order for Ukio Bankas has ten days to appeal.#bbcsprtscot

Which doesn't take them past the safety point of 1st June.

That's very good news for Dundee :agree:

[WestEndHibee]

@BBCBMcLauchlin: Anyone wishing to appeal against the bankruptcy order for Ukio Bankas has ten days to appeal.#bbcsprtscot

So I take it that nothing can be done in terms of dismantling UBIG until after these 10 days?

[blackpoolhibs]

Which doesn't take them past the safety point of 1st June.

That's very good news for Dundee :agree:

I wouldn't have thought there would be any appeal, they know they are Donald Ducked this time. :greengrin

[green glory]

Which doesn't take them past the safety point of 1st June.

That's very good news for Dundee :agree:

If admin happens in the next few days, depending on this weeks results it's entirely possible we'll relegate them next week.

[hibbymac]

I wouldn't have thought there would be any appeal, they know they are Donald Ducked this time. :greengrin

:agree: Pleasing.

[Green Blood]

I hope they die on May 19th!!

[Hibs07p]

10 days time we are at the PBS.

:flag::flag::flag:

[JeMeSouviens]

Meanwhile, "Scoop" Anderson is on the ball as always ...


Barry Anderson ‏@BarryAnderson_8 59m

Verdict on whether Ukio Bankas will be liquidated not likely to be made public till next week at the earliest. #Hearts owe Ukio £15m. #HMFC


:rolleyes:

#allisbarry

[Pete]

They aren't the big team. They are the UBIG team.

[cam75]

All is Barry I SAY ALL IS BARRY :-)

[Mikey]

If admin happens in the next few days, depending on this weeks results it's entirely possible we'll relegate them next week.

Dundee have 2 home before we go to the PBS and will be safe by then. We'd be going there for a party :wink:

[kdhibees1]

All gone very quiet over on KeekCack :thumbsup:

[HUTCHYHIBBY]

"But, but, but 5-1 blah, blah, blah!"
"If only we knew we could've done something about it"
Twats!

[SteveHFC]

http://tgifgif.com/wp-content/uploads/2012/02/zebra-strut.gif

[Mon Dieu4]

if they have not got a football team to discuss i suggest that the polis shutdown Kickback as it will just be used for grooming, fraud and racism

[cam75]

http://m.youtube.com/watch?v=w7RIgs3eygo
Posted over there quality :-)

[ScottB]

YAMOCALYPSE!!!!!

And it was good.

[Green Blood]

http://www.bloomberg.com/news/2013-05-02/lithuania-s-ukio-bankas-enters-bankruptcy-as-administrator-named.html


:top marks

[HibbyAndy]

So is this really the end then ?.

They better no squirm there way out this time!!!

[Mikey]

All gone very quiet over on KeekCack :thumbsup:

It aint quiet here. Guests have been booted to stop the place falling over :greengrin

[CropleyWasGod]

So is this really the end then ?.

They better no squirm there way out this time!!!

Not yet. The foreplay is increasing in intensity, but the climax has yet to be attained.

Roll with it.

[Saorsa]

http://eyeofthefish.org/wp-content/uploads/2009/09/fat-lady-singing-warning.jpg

[Hermit Crab]

It aint quiet here. Guests have been booted to stop the place falling over :greengrin

I away to login.

[Mikey]

http://www.bloomberg.com/news/2013-05-02/lithuania-s-ukio-bankas-enters-bankruptcy-as-administrator-named.html


:top marks

A Lithuanian court began bankruptcy proceedings against Ukio Bankas AB at the request of the central bank, which shut the Kaunas-based lender in February because of risky loans to related parties.

Kaunas District Court today also issued a decree naming the firm Valnetas UAB as Ukio’s bankruptcy administrator, the court said on its website. The decisions may be appealed within 10 days, according to the statement.

Ukio was Lithuania’s fourth-largest bank by deposits when it was closed. The lender’s liabilities exceeded its assets by 1.2 billion litai ($463 million) as of March 18, the Bank of Lithuania in Vilnius, Lithuania’s capital, said last month, citing financial statements prepared by Ukio’s temporary administrator, Adomas Audickas, and auditor KPMG Baltic.

The permanent bankruptcy administrator will determine how and when to seek recovery of Ukio’s assets, which include claims on a majority stake in Scottish premier-league soccer club Heart of Midlothian as well as the team’s stadium in Edinburgh, Audickas said in a phone interview on April 30.

Valnetas, which like Ukio is based in the central Lithuanian city of Kaunas, specializes in corporate bankruptcy and restructuring, according to its website.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

[CropleyWasGod]

A Lithuanian court began bankruptcy proceedings against Ukio Bankas AB at the request of the central bank, which shut the Kaunas-based lender in February because of risky loans to related parties.

Kaunas District Court today also issued a decree naming the firm Valnetas UAB as Ukio’s bankruptcy administrator, the court said on its website. The decisions may be appealed within 10 days, according to the statement.

Ukio was Lithuania’s fourth-largest bank by deposits when it was closed. The lender’s liabilities exceeded its assets by 1.2 billion litai ($463 million) as of March 18, the Bank of Lithuania in Vilnius, Lithuania’s capital, said last month, citing financial statements prepared by Ukio’s temporary administrator, Adomas Audickas, and auditor KPMG Baltic.

The permanent bankruptcy administrator will determine how and when to seek recovery of Ukio’s assets, which include claims on a majority stake in Scottish premier-league soccer club Heart of Midlothian as well as the team’s stadium in Edinburgh, Audickas said in a phone interview on April 30.

Valnetas, which like Ukio is based in the central Lithuanian city of Kaunas, specializes in corporate bankruptcy and restructuring, according to its website.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

A majority stake? That's a new one, no?

If that's the case, which I have doubts about, then the "owner in insolvency" provision kicks in.

[Part/Time Supporter]

the good bits (ie not Hearts or UBIG) have been transferred to the other bank.

http://news.cision.com/siauliu-bankas-ab-g/r/the-closing-deed-under-the-agreement-on-transfer-of-assets-and-liabilities-of-ukio-bankas-ab-was-sig,e372744

[Thecat23]

Most over there still think this is a good thing. They will get a buyer and they will still be at Tynnie. Surely these folk can't be serious?

[Andy74]

Most over there still think this is a good thing. They will get a buyer and they will still be at Tynnie. Surely these folk can't be serious?

Who'd have thought you could get Ibrox, Murray Park and the football club for £4million?

[SteveHFC]

http://members.modernvespa.net/vespresso/uploads/daffy_duck_bmp1_149.jpg

[MacBean]

A majority stake? That's a new one, no?

If that's the case, which I have doubts about, then the "owner in insolvency" provision kicks in.


It's a claim on the majority stake, not the majority stake itself. This would suggest that UBIG have put Hearts up as security for borrowing from Ukio.

[JeMeSouviens]

Most over there still think this is a good thing. They will get a buyer and they will still be at Tynnie. Surely these folk can't be serious?

Apparently, it would be total and utter madness to sell off Tiny as it's only valued at around £5M. Far better to keep the now-highly-profitable club together with its ground in the hope of striking a less than £2M deal on the never-never backed with fantasy pledges.

Obviously. :rolleyes:

[CropleyWasGod]

Who'd have thought you could get Ibrox, Murray Park and the football club for £4million?

There was no major security in that case.

[#FromTheCapital]

http://www.reactiongifs.com/wp-content/uploads/2013/05/get-down.gif (http://www.reactiongifs.com/wp-content/uploads/2013/05/get-down.gif)

[Glesgahibby]

1st target for the administrator must be UBIG :agree:
how long? I would assume not long due to
the fact they have had time to plan a strategy :wink:
:thumbsup::thumbsup::thumbsup::thumbsup::thumbsup: :thumbsup:

[CropleyWasGod]

It's a claim on the majority stake, not the majority stake itself. This would suggest that UBIG have put Hearts up as security for borrowing from Ukio.

Okay. But that means, if they go after UBIG and take ownership of the shares, they are the owner and, being insolvent, the points penalty kicks in.

That said, if they go down that route, it will probably be next season.

[Hank Schrader]

http://www.reactiongifs.com/wp-content/uploads/2013/05/get-down.gif (http://www.reactiongifs.com/wp-content/uploads/2013/05/get-down.gif)

:tee hee::tee hee:

[JeMeSouviens]

Who'd have thought you could get Ibrox, Murray Park and the football club for £4million?

Can you imagine trying to sell a development of new flats at Ibrox? :faf:

[kdhibees1]

http://img.izismile.com/img/img3/20101108/files/2/dancing_gifs_05.gif

[Sanger]

UB assets include not only Tynecastle by Romanov shares which have been seized. Under European law they can extend the bankruptcy proceedings to UK to recover assets. HMFC essentially bankrupt. Any buyers of club and stadium will buy from administrator as part of lquidation sale. HMFC should be booted out the SPL and SFL and any buyer would hav e to seek re-entry.

[green glory]

Not yet. The foreplay is increasing in intensity, but the climax has yet to be attained.

Roll with it.

Looking forward to the vinegar strokes.

[God Petrie]

UB assets include not only Tynecastle by Romanov shares which have been seized. Under European law they can extend the bankruptcy proceedings to UK to recover assets. HMFC essentially bankrupt. Any buyers of club and stadium will buy from administrator as part of lquidation sale. HMFC should be booted out the SPL and SFL and any buyer would hav e to seek re-entry.

you should hand out boxes of kleenex with your posts

[CropleyWasGod]

UB assets include not only Tynecastle by Romanov shares which have been seized. Under European law they can extend the bankruptcy proceedings to UK to recover assets. HMFC essentially bankrupt. Any buyers of club and stadium will buy from administrator as part of lquidation sale. HMFC should be booted out the SPL and SFL and any buyer would hav e to seek re-entry.

Tynecastle is not a UB asset, though. It's HMFC's, albeit secured to UB.

[Caversham Green]

Most over there still think this is a good thing. They will get a buyer and they will still be at Tynnie. Surely these folk can't be serious?

The complacency over there is breathtaking. Can you imagine what would happen if Rod and STF had got our club into the state HoMFC are in?

[PatHead]

Wonder if the Jambos will be singing this by the end of the day in defiance. http://www.youtube.com/watch?v=6E2hYDIFDIU

[TAHibby]

:giruy:

[Glesgahibby]

UB assets include not only Tynecastle by Romanov shares which have been seized. Under European law they can extend the bankruptcy proceedings to UK to recover assets. HMFC essentially bankrupt. Any buyers of club and stadium will buy from administrator as part of lquidation sale. HMFC should be booted out the SPL and SFL and any buyer would hav e to seek re-entry.
SPOT ON SIR!!!!
GAME OVER :greengrin

[Hibs07p]

This is how I'm feeling.

http://www.youtube.com/watch?v=9awyOmLgQD8

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

http://www.youtube.com/watch?v=iz_04QXRWao

http://www.youtube.com/watch?v=99lR07VXqCc

[Hibby70]

Vinegar!!!!!!!!!

[SteveHFC]

http://media.tumblr.com/tumblr_makw0hBzAO1r17d4o.gif

[jgl07]

Tynecastle is not a UB asset, though. It's HMFC's, albeit secured to UB.

There were suggestions that Tynecastle could have been transferred as part of the debt for equity switches.

[essexhibee]

Absolutely no sign of anyone worrying about this on keekback? Are they deaf dumb and blind? :confused:

[Sanger]

Tynecastle is not a UB asset, though. It's HMFC's, albeit secured to UB.

The claims on Tynecastle and Romanov's shares are. They effectively become assets as UB are bankrupt and can't pay back the loans.

[Leishy1995]

Yesterday, all my troubles seemed so far away

[Heisenberg]

So is it still a case of #allisbarry?

[MacBean]

Tynecastle is not a UB asset, though. It's HMFC's, albeit secured to UB.

If UBIG have provided Hearts FC as security over their debt (As the bloomberg article would suggest), and UBGI can't repay their debt, then the security for said debt would be transferred to UB administrators. In this instance, that is Hearts FC and all of it's assets, i.e. Tynecastle, name rights, SPL rights, players, staff, etc...

Then UB administrator could asset strip HMFC

[hibsmad]

Absolutely no sign of anyone worrying about this on keekback? Are they deaf dumb and blind? :confused:

No.

Just thick as ****

[Killiehibbie]

I wasn't going to get up that early to attend the derby but I might now :giruy:

[Hibby Gav]

you should hand out boxes of kleenex with your posts

:top marks

And maybe a cigarette and the local dominoes number for after.....:wink:

[Mikey]

If UBIG have provided Hearts FC as security over their debt (As the bloomberg article would suggest), and UBGI can't repay their debt, then the security for said debt would be transferred to UB administrators. In this instance, that is Hearts FC and all of it's assets, i.e. Tynecastle, name rights, SPL rights, players, staff, etc...

Presumably meaning that Hearts are owned by a bankrupt outfit?

Therefore meaning an immediate 18 point deduction??

[Heisenberg]

Barry Anderson‏@BarryAnderson_86m (http://www.hibs.net/BarryAnderson_8/status/329983999894245379)Ukio going bankrupt means £15m #Hearts (http://www.hibs.net/search?q=%23Hearts&src=hash) owe them could be recalled. If so, it would force #HMFC (http://www.hibs.net/search?q=%23HMFC&src=hash) into admin. Down to Ukio administrator now.


Nae luck Barry :fenlonMon the administrator :thumbsup:

[littleplum]

So is it still a case of #allisbarry?

Not according to Barry

Barry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8) 16m (https://twitter.com/BarryAnderson_8/status/329981719660871681) Confirmed, Ukio declared bankrupt RT @edinburghpaper (https://twitter.com/edinburghpaper) Hearts in crisis: Ukio Bankas goes bankrupt http://bit.ly/120Yr4e (http://t.co/mTd5gEy38S)

[Green Man]

I've always hated this gif, but I knew I'd find a use for it one day.

9730

[Killiehibbie]

Presumably meaning that Hearts are owned by a bankrupt outfit?

Therefore meaning an immediate 18 point deduction??Hopefully it's as straight forward as that.

[GordonHFC]

Barry Anderson‏@BarryAnderson_86m (http://www.hibs.net/BarryAnderson_8/status/329983999894245379)Ukio going bankrupt means £15m #Hearts (http://www.hibs.net/search?q=%23Hearts&src=hash) owe them could be recalled. If so, it would force #HMFC (http://www.hibs.net/search?q=%23HMFC&src=hash) into admin. Down to Ukio administrator now.


Nae luck Barry :fenlonMon the administrator :thumbsup:

So 'allisnotbarry' then?

[MacBean]

Presumably meaning that Hearts are owned by a bankrupt outfit?

Therefore meaning an immediate 18 point deduction??

UBIG still "own" HMFC, and until UBIG are declared in Admin/Bankrupt then there will be no 18 point deduction. Only when UB admin calls in UBIG debt will we know of the next steps. If UBIG can't pay, HMFC and it's assets will be offered.

[lord bunberry]

Tha pink hoose must stay open

[cam75]

http://m.youtube.com/watch?v=hAF_EPNQOlU

[Hibby70]

What's the ispy link, I can't keep up.

[CropleyWasGod]

The claims on Tynecastle and Romanov's shares are. They effectively become assets as UB are bankrupt and can't pay back the loans.

Effectively, but not legally.

It's a pedantic point, but as of this moment HMFC still have ownership of Tynie. They could sell it tomorrow, as long as they satisfied the fixed charge on it.

[Mikey]

What's the ispy link, I can't keep up.

http://www.hibs.net/vaispy.php

[hibs0666]

Tha pink hoose must stay open

More like a tin shed than a hoose my Lord.

[Glorious]

http://i.imgur.com/S0zl2.gif

[SteveHFC]

97319731

http://i976.photobucket.com/albums/ae247/Mainboy/Pleasing/av-34052.pnghttp://i976.photobucket.com/albums/ae247/Mainboy/Pleasing/av-34052.png

[hibs0666]

Effectively, but not legally.

It's a pedantic point, but as of this moment HMFC still have ownership of Tynie. They could sell it tomorrow, as long as they satisfied the fixed charge on it.

I thought UBIG assets were frozen?

[Sean1875]

I'm sitting with goosebumps, Ooh to, Ooh to be.. :flag:

[Leishy1995]

@Sir_RodPetrie: PLEDGE ON, PLEDGE ON!

WITH MONEY, FROM YOUR BANKS!

AND YOU'LL NEVER SAVE YOUR HEARTS!

YOU'LL NEVVVVVER SAVE, YOUR HEARTS!

[Glorious]

http://i.imgur.com/xilCM.gif

[CropleyWasGod]

I thought UBIG assets were frozen?

UBIG's are, but not HMFC's.

HMFC own Tynie.


There were suggestions that Tynecastle could have been transferred as part of the debt for equity switches.

Yeah, but swept away when UKIO took a security of £6.8m over it in (?) December.

[steakbake]

http://i976.photobucket.com/albums/ae247/Mainboy/Pleasing/av-34052.pnghttp://i976.photobucket.com/albums/ae247/Mainboy/Pleasing/av-34052.png

Kickback Lurkers ken whit's goin oan...

[SteveHFC]

@Sir_RodPetrie: PLEDGE ON, PLEDGE ON!

WITH MONEY, FROM YOUR BANKS!

AND YOU'LL NEVER SAVE YOUR HEARTS!

YOU'LL NEVVVVVER SAVE, YOUR HEARTS!

This has to be sung next sunday :thumbsup:

[Leishy1995]

This has to be sung next sunday :thumbsup:

I will happily start it

[Jones28]

Oh what a day!

[WestEndHibee]

I've always hated this gif, but I knew I'd find a use for it one day.

9730

I've always hated this one to be honest. However, upon reflection, I can see the enjoyment in it
http://www.hmfckickback.co.uk/public/style_emoticons/default/jjpleasing.gif

[Hibby70]

http://www.hibs.net/vaispy.php

Cheers, have a Karma Kreme doughnut on me.

[hibsmad]

http://i.imgur.com/xilCM.gif

:top marks

Sums it up for me perfectly.

[SteveHFC]

I've always hated this one to be honest. However, upon reflection, I can see the enjoyment in it
http://www.hmfckickback.co.uk/public/style_emoticons/default/jjpleasing.gif

http://www.hmfckickback.co.uk/public/style_emoticons/default/jjpleasing.gif

[Sean1875]

Yam mates starting with the '5-1' patter already, incredible.

[Mikey]

I hope you chaps don't think those appalling Kickback gifs will be a long term addition :wink:

[SmashinGlass]

Not according to Barry

Barry Anderson ‏@BarryAnderson_8 (https://twitter.com/BarryAnderson_8) 16m (https://twitter.com/BarryAnderson_8/status/329981719660871681) Confirmed, Ukio declared bankrupt RT @edinburghpaper (https://twitter.com/edinburghpaper) Hearts in crisis: Ukio Bankas goes bankrupt http://bit.ly/120Yr4e (http://t.co/mTd5gEy38S)

I'm not on twitter, but would somebody mind sending him a tweet asking why he's been telling bare faced lies for months, rather than doing the job he is paid (no doubt handsomely) to do.

[Hibs07p]

Yam mates starting with the '5-1' patter already, incredible.

Just hit them with a 2-5 gesture instead.

[SteveHFC]

I hope you chaps don't think those appalling Kickback gifs will be a long term addition :wink:

http://i976.photobucket.com/albums/ae247/Mainboy/Pleasing/Untitled-11.gif:greengrin

[ShanksSaidNo]

http://i.imgur.com/xilCM.gif

HaHaHa, Genius from you.

[Sean1875]

Just hit them with a 2-5 gesture instead.

I took the 'oh you mean the 15 million debt being called in?' approach :agree:

[Craig_in_Prague]

Yam mates starting with the '5-1' patter already, incredible.

Do they not realise that it doesnt bother any hibs fans? Not me anyway not even since the game itself.
I seen a FB pic of friends on their hols in Portugal and barman doing the sign. Come back from hols - nae club. Lol

[Hibby70]

Just hit them with a 2-5 gesture instead.

Oi, I was just going to post that.

2/5 around the world. Get the 2 the right way round mind.

[MacBean]

It is still possible that hearts could gamble to be in a mathematically uncatchable position (ie relegation impossible) then stuck themselves in admin

[Hibs07p]

I took the 'oh you mean the 15 million debt being called in?' approach :agree:

:aok: