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The bank aren't the yams' problem - Jackson announced that an agreement in principal had been reached with them a couple of months ago. The stumbling block is still the UBIG shareholding which remains frozen (together with all their assets) pending investigation by the Lith authorities.Quote:
Originally Posted by Seveno
Quote:
Originally Posted by Kato
:tee hee:
Thanks, CWG. I'll sleep better tonight.Quote:
Originally Posted by CropleyWasGod
I can't see Mr and Mrs Lithuanian State Insurance being difficult to deal with. Plain sailing from now on in.Quote:
Originally Posted by Kato
The bank are a problem, in that their creditors (ie Mr and Mrs State Insurance) haven't yet approved the CVA. The agreement was with the administrator, and it isn't his call.Quote:
Originally Posted by Peevemor
Conversely, getting the agreement of the UBIG creditors will be, IMO, the easiest of the 3 requirements.
Obviously nothing in the process is a given, but is their biggest problem not that nothing (apart from liquidation) can happen until UBIG's assets are unfrozen, and nobody knows when this might happen?Quote:
Originally Posted by CropleyWasGod
Yep, that's the biggest problem.Quote:
Originally Posted by Peevemor
Getting the UKIO creditors to agree the CVA is the second.
Getting the UBIG creditors to agree the share transfer is, IMO, the easiest.
All 3 are necessary to exit admin.
I don't think they will have a problem getting agreement from either. It's time that's the factor.Quote:
Originally Posted by CropleyWasGod
And the frozen shares.
:-)
Correct.Quote:
Originally Posted by Ozyhibby
It is the time delays which will mean the cash runs out which will result in the big L.
They probably really need something to happen by the end of next week or they'll declare liquidation. Even then, it may already be too late.Quote:
Originally Posted by Weststandwanab
I'm not normally one to post on this sort of speculation thread, but I seem to recall 'out of admin by Christmas' being mentioned last year - then it was Jan - then Feb - then March - then April - now it seems to be May.Quote:
Originally Posted by Dashing Bob S
I really must try to keep up - I don't have a clue as to what's happening.
You really are an amateur! Keep up, son!:cbQuote:
Originally Posted by Sergey
It's in the proposal to creditors of July 26 2013.
Quote:
That in the event there are sufficient funds to enable a payment by way of distribution to unsecured creditors then we, as Joint Administrators, will cause the Company to be placed into Creditors’ Voluntary Liquidation, with Bryan Alan Jackson, Trevor Nigel Birch and James Bernard Stephen being appointed as Joint Liquidators, by filing the requisite forms with the Registrar of Companies pursuant to Paragraph 83 of Schedule B1 to the Insolvency Act 1986.
At one point they were going to be out of admin, debt free and signing players in the August window. :greengrinQuote:
Originally Posted by Sergey
I noticed on your link that Brian Jackson is named as Brian Alan Jackson....BAJ. Is anyone thinking what Im thinking?Quote:
Originally Posted by JeMeSouviens
It is too late already IMOQuote:
Originally Posted by Dashing Bob S
Standards are slipping ere.Quote:
Originally Posted by Sergey
Good spot.Quote:
Originally Posted by JeMeSouviens
Which August though ?Quote:
Originally Posted by JeMeSouviens
No........Quote:
Originally Posted by fat freddy
Bajillions always denies his source is Brian Jackson. But has he ever denied he IS Brian Jackson?Quote:
Originally Posted by fat freddy
You join the dots and... Wow. I hope none of The Famous read this tonight, or the whole thing might get rumbled.
Another Lith. news article covering the meeting. Nothing new in the text, but there is a good slide show of pictures taken at the meeting.
http://www.lrytas.lt/-13951312891394...m#.UyjiLqh_tig
Nobody seems very happy .
Since Vlad systematically closed their textile industry, one poor sod still has a reindeer jumper on.Quote:
Originally Posted by greenginger
Al the best GG
Bajillions
I'm keeping a careful watch on this thread... I'm hoping to score the SIX MILLIONTH view!!!!
:wink:
REAL people, suffering REAL hardship; all so the yams could pursue their 'Big Team' pipe-dream. This is their shame, and very soon, their epitaph.Quote:
Originally Posted by greenginger
:top marksQuote:
Originally Posted by crewetollhibee
Never seen such a dull set of photos in my puff, an empty cloakroom FFS! I think the only decent one was towards the end where 3 folk had walked out because there were no biscuits!Quote:
Originally Posted by greenginger
12 comments added under the article, wonder if there is anything of any interest in there.Quote:
Originally Posted by greenginger
Would be interesting to get this translated and posted up?
'What are your thoughts on Heart of Midlothian Football Club blatantly overspending and wasting UKIO Bank Customers hard earned savings and their fans continue to hail Vladimir Romanov as a Hero?'
I can save everyone the bother:Quote:
Originally Posted by macca70
"5-1"
"1902"
"Killed you as a club"
"Methadone swilling drugs ridden hobos"
"Please Mr eh...Somebody...can we have the shares?"
"You don't need to ask them - it's in the bag!"
"Who are you? I think you have the wrong forum?"
"I'm an MP from the UK blah blah..."
Because Stuart Bathgate hasn't pounced on it and splashed it over the back page of the Scotsman. :-)Quote:
Originally Posted by Seveno
Maybe not next week but it must be getting close.Quote:
Originally Posted by Dashing Bob S
What is "pleasing" is that the bean counters on this board are generally of the same opinion. Overall suggestion is, and has been for a while now, that liquidation is the most likely outcome.Quote:
Originally Posted by Weststandwanab
This is supported by the posts of both Sergey and Bajillions.
For any Yams looking in as I said , PLEASING.
I have been of that opinion since the start of the season because, IMO, they will simply run out of cash.Quote:
Originally Posted by Kaiser1962
CWG and others has, on occasion, made excellent points which have caused me to pause and think but am still of the same opinion the only way forward is the big L unless Budge opens the purse strings and, in my experience, people with her wealth are not known for acts of financial folly.
To the large number of Yam visitors, wake up, get Plan B out of the closet and get going with Newco Jambos which hopefully will see derbies return in a few seasons.
Thanks for that :aok:Quote:
Originally Posted by JeMeSouviens