Share Transfers Agreed/Cooling off period

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Originally Posted by CropleyWasGod

As I see it, the first million is to cover the football debt and the close season. The 1.4 is for next season.

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I doubt they'll be out of admin before the close season.

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Originally Posted by Geo_1875

I doubt they'll be out of admin before the close season.

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In which case.....:greengrin

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Originally Posted by Gmack7

things must be looking up as they clowns are discussing the possible options of the new main stand ranging from 4 million to 10 million,
have they sold holt:wink:

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Get your debt written off via a sneaky, sniveling CVA then borrow lots more money. Sounds about right.

Cheats: forever in the shadow of administration.

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Originally Posted by SurferRosa

Tom English was all over the radio today talking about what a wonderful example FoH were. How great the fans were. How terrific it was that they`d be fan-owned and how a bright new future awaited. He was almost chanting "follow the yellow brick road".

Yet not a word about the debt they`d bumped, the lives they`d ruined, the charities they robbed or even the fact that the now mythical 'shares' were still tied up in a fraud investigation.

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I texted the show asking why the weren't reporting the truth about the shares being frozen etc!! Needless to say not a word


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Originally Posted by kaimendhibs

I texted the show asking why the weren't reporting the truth about the shares being frozen etc!! Needless to say not a word


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Are they defo frozen ?or is that us being deluded hobos 5-1 1902 again

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Originally Posted by 07hibee

Are they defo frozen ?or is that us being deluded hobos 5-1 1902 again

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All assets owned by UBIG were frozen in April last year.

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Originally Posted by CropleyWasGod

All assets owned by UBIG were frozen in April last year.

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That long ago? I hope they remain frozen for the foreseeable future, say the next 5 years, that would do nicely.

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Originally Posted by CropleyWasGod

All assets owned by UBIG were frozen in April last year.

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That bank building got sold though ?

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Originally Posted by 07hibee

That bank building got sold though ?

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When did this happen? Got a link?

I was wondering. I haven't read all the ins and outs of Hearts debt. Why exactly do we call them charity thieves.

Is it because they agreed to give money to a charity, but didn't. Or is it because they collected on behalf of a charity and kept the money for themselves.

For me, you can excuse a company going bust and not meeting a sponsorship commitment, or such like. You can't excuse people that act as a collector for a charity and don't pass the money on.

No matter how dire things are, you are basically saying your cause is more important than the charity.

Can somebody please clarify the situation?

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Originally Posted by Filled Rolls

I was wondering. I haven't read all the ins and outs of Hearts debt. Why exactly do we call them charity thieves.

Is it because they agreed to give money to a charity, but didn't. Or is it because they collected on behalf of a charity and kept the money for themselves.

For me, you can excuse a company going bust and not meeting a sponsorship commitment, or such like. You can't excuse people that act as a collector for a charity and don't pass the money on.

No matter how dire things are, you are basically saying your cause is more important than the charity.

Can somebody please clarify the situation?

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They collected £34k on behalf of the Big Hearts community trust and spent it on themselves.

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Originally Posted by Ozyhibby

When did this happen? Got a link?

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Not got a link ,but it was in evening news recently

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Originally Posted by 07hibee

That bank building got sold though ?

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No it didn't.

There was a report that it is up for sale. The same as the Hearts shares are up for sale.

Neither sale can be completed until the assets are unfrozen.

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Originally Posted by 07hibee

That bank building got sold though ?

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No it didn't.

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Originally Posted by Geo_1875

No it didn't.

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http://m.edinburghnews.scotsman.com/news/bank-sold-to-pay-ex-hearts-owner-romanov-s-debts-1-3281497

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Originally Posted by Ozyhibby

They collected £34k on behalf of the Big Hearts community trust and spent it on themselves.

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Surely the police need to investigate?

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Originally Posted by 07hibee

http://m.edinburghnews.scotsman.com/news/bank-sold-to-pay-ex-hearts-owner-romanov-s-debts-1-3281497

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Read it properly :-)

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That says it did ?

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Originally Posted by CropleyWasGod

Read it properly :-)

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Yeah see what you mean,so it's not been sold despite that headline?

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Originally Posted by 07hibee

That says it did ?

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Read the article, not the headline.

We know that the shares are currently frozen. Hearts' fans don't seem to think this will be a problem, some of ours do.

Can anyone give me a clear statement on what is required to unfreeze the shares? I haven't read anything to say for certain whether it's something that can be decided by a vote of UBIG's creditors, or whether permission from Lithuania's courts or police is required. The answer's critical to Hearts' future.

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Originally Posted by CropleyWasGod

Read it properly :-)

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Yeah see what you mean,so it's not been sold despite that headline?

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Originally Posted by 07hibee

Yeah see what you mean,so it's not been sold despite that headline?

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Correct :-)

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Originally Posted by ballengeich

We know that the shares are currently frozen. Hearts' fans don't seem to think this will be a problem, some of ours do.

Can anyone give me a clear statement on what is required to unfreeze the shares? I haven't read anything to say for certain whether it's something that can be decided by a vote of UBIG's creditors, or whether permission from Lithuania's courts or police is required. The answer's critical to Hearts' future.

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The Court froze them. Only they can unfreeze them.

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Originally Posted by SurferRosa

Tom English was all over the radio today talking about what a wonderful example FoH were. How great the fans were. How terrific it was that they`d be fan-owned and how a bright new future awaited. He was almost chanting "follow the yellow brick road".

Yet not a word about the debt they`d bumped, the lives they`d ruined, the charities they robbed or even the fact that the now mythical 'shares' were still tied up in a fraud investigation.

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For the sake of clarity the shares you speak of are actual shares.

The mythical shares were the ones the gullible yams bought but never existed beyond a fraudulent brochure.

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Originally Posted by Jack

For the sake of clarity the shares you speak of are actual shares.

The mythical shares were the ones the gullible yams bought but never existed beyond a fraudulent brochure.

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You`re quite right of course. :agree:

Wrong word, i should have said " those mystical shares ".

Mystical meaning 'inspiring a sense of mystery, awe, and fascination'. :greengrin

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Originally Posted by ballengeich

We know that the shares are currently frozen. Hearts' fans don't seem to think this will be a problem, some of ours do.

Can anyone give me a clear statement on what is required to unfreeze the shares? I haven't read anything to say for certain whether it's something that can be decided by a vote of UBIG's creditors, or whether permission from Lithuania's courts or police is required. The answer's critical to Hearts' future.

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Hearts situation is very like that of Portsmouth whose Lithuanian owner's (Vladimir Antonov of Snoras Bank) assetts were frozen in late 2011 under very similar circumstances. They still are.

Nobody is asking for the portsmouth shares to be unfrozen as they were able to start again as a newco, could that not be the difference between the 2 situations?

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Originally Posted by Kaiser1962

Hearts situation is very like that of Portsmouth whose Lithuanian owner's (Vladimir Antonov of Snoras Bank) assetts were frozen in late 2011 under very similar circumstances. They still are.

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if hearts shares remain frozen while the investigation into their complicit involvement in vlads criminal empire is complete does that mean they will have to be liquidated or are they allowed to continue trading indefinately whilst in administration?

surely they would lose a small fortune in fees to BDO if the administration were to continue into next season?

surely they will recieve the shares in a few weeks as ian murray and the evening news have stated? why else would they stick their necks out on this as they will lose all credibility if the deal isn't rubber stamped?

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Originally Posted by bingo70

Nobody is asking for the portsmouth shares to be unfrozen as they were able to start again as a newco, could that not be the difference between the 2 situations?

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From my limited knowledge this seems to be the major difference between the hearts and Portsmouth situations. Portsmouth didn't fully need their shares to be defrosted whereas hearts do. Got to assume that much more effort will be made to defrost the hearts shares. Although I'm not sure how much of a challenge that will be.