Share Transfers Agreed/Cooling off period

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Originally Posted by StevieC

What about the 15% held by VR's neice (?), does that have any affect on proceedings? Does the CVA also need those shares or would it mean that a relative of VR would have 15% in HoMFC after a successful CVA?

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Not sure that it does, TBH.

The CVA, IIRC, is for a controlling interest; having UKIO's and UBIG's shares would get that.

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Originally Posted by CropleyWasGod

This is the bit I don't get.

Has it actually been delayed? The UKIO admin said it would probably take place "next week". The 7th is a week on Monday.

Was it ever going to happen next week? If it was, what difference does a couple of days make?

Bit of non-news, IMO.

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It's just another factor in the astonishing 'complexity' of the situation with those Lithuanians, how they can just cancel - on a whim - meetings that they never knew anything about.

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Originally Posted by Ozyhibby

Looks like every bit of this procedure is going to be carried out before we find out if the frozen shares is an issue.
I don't expect there to be any problem for them getting the CVA ratified by Ukio and Ubig other than the time it takes to have all the appropriate meetings. On this, you would have to say BDO have done a fine job as it appears to be happening quite quickly now.
Then it will be down to the frozen shares.
Whichever way it goes, one set of fans is going to look a bit silly.
At least for us that's the worst that can happen.

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Well it won't be Hibs fans.

This is the boiled frog analogy. If you went back just 18 months ago and showed the Yams a picture of where they are today, they would have dismissed that as a Hobo wet-dream, a complete fantasy. Jees, just 6 months ago, we, they and most everyone else thought they would escape relegation (despite the 15 point deduction). 6 months ago they were talking about being out of Admin in time for Christmas and signing Rudi and some top players to take the league by storm.

Today, the end of MARCH, and they are still stuck in Admin, guaranteed to be RELEGATED, almost out of money, no new signings, cannot sell Season Tickets, and in genuine danger of being relegated by HIBS - the team the supposedly killed off two years ago. This is a Yam nightmare, despite their bravado, 5-1, 1902.

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Originally Posted by StevieC

What about the 15% held by VR's neice (?), does that have any affect on proceedings? Does the CVA also need those shares or would it mean that a relative of VR would have 15% in HoMFC after a successful CVA?

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I don't think there's any particular effect on the CVA. I think if they get hold of more than 30% of the company, they are legally bound to offer all other shareholders the same price and if they get hold of 90%, the other shareholders are bound to accept. At 85% though, I think Olga could be left with her holding if she so chooses.

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Originally Posted by Onion

Well it won't be Hibs fans.

This is the boiled frog analogy. If you went back just 18 months ago and showed the Yams a picture of where they are today, they would have dismissed that as a Hobo wet-dream, a complete fantasy. Jees, just 6 months ago, we, they and most everyone else thought they would escape relegation (despite the 15 point deduction). 6 months ago they were talking about being out of Admin in time for Christmas and signing Rudi and some top players to take the league by storm.

Today, the end of MARCH, and they are still stuck in Admin, guaranteed to be RELEGATED, almost out of money, no new signings, cannot sell Season Tickets, and in genuine danger of being relegated by HIBS - the team the supposedly killed off two years ago. This is a Yam nightmare, despite their bravado, 5-1, 1902.

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Despite the gallows humour of some of KBs diehards (let's take inflatable Scottish Cups, haw haw), the Yam on the street will finally appreciate the full horror of their demise on Sunday.

My guess is that nothing will shut the Hibs fans up. The game is an irrelevance, what's more significant is that they team they ended forever will be there to wave them off on their great adventure.

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Originally Posted by Onion

Well it won't be Hibs fans.

This is the boiled frog analogy. If you went back just 18 months ago and showed the Yams a picture of where they are today, they would have dismissed that as a Hobo wet-dream, a complete fantasy. Jees, just 6 months ago, we, they and most everyone else thought they would escape relegation (despite the 15 point deduction). 6 months ago they were talking about being out of Admin in time for Christmas and signing Rudi and some top players to take the league by storm.

Today, the end of MARCH, and they are still stuck in Admin, guaranteed to be RELEGATED, almost out of money, no new signings, cannot sell Season Tickets, and in genuine danger of being relegated by HIBS - the team the supposedly killed off two years ago. This is a Yam nightmare, despite their bravado, 5-1, 1902.

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:agree:

Bang on. Sickbag may be full of surreal nonsense but in real life the Yams I know stopped wanting to talk about football months ago.

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Originally Posted by Onion

Well it won't be Hibs fans.

This is the boiled frog analogy. If you went back just 18 months ago and showed the Yams a picture of where they are today, they would have dismissed that as a Hobo wet-dream, a complete fantasy. Jees, just 6 months ago, we, they and most everyone else thought they would escape relegation (despite the 15 point deduction). 6 months ago they were talking about being out of Admin in time for Christmas and signing Rudi and some top players to take the league by storm.

Today, the end of MARCH, and they are still stuck in Admin, guaranteed to be RELEGATED, almost out of money, no new signings, cannot sell Season Tickets, and in genuine danger of being relegated by HIBS - the team the supposedly killed off two years ago. This is a Yam nightmare, despite their bravado, 5-1, 1902.

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I agree, I was referring only to the specific issue of the frozen shares.

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Originally Posted by JeMeSouviens

:agree:

Bang on. Sickbag may be full of surreal nonsense but in real life the Yams I know stopped wanting to talk about football months ago.

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Apart from their demise, I've stopped talking about football as well.
:-(

AllisBarry has spoken

UBIG creditors' meeting now due 7 April for vote on #Hearts share transfer. Ukio creditors meet Friday but Ukio already approved CVA in Nov.


Borthwick will be tweeting more lies today as well.

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Originally Posted by Pray4Marc

AllisBarry has spoken

UBIG creditors' meeting now due 7 April for vote on #Hearts share transfer. Ukio creditors meet Friday but Ukio already approved CVA in Nov.


Borthwick will be tweeting more lies today as well.

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Rubber Stamps all round! Good to see Barry has given up on the idea of sourcing his own material though.

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Originally Posted by JeMeSouviens

:agree:

Bang on. Sickbag may be full of surreal nonsense but in real life the Yams I know stopped wanting to talk about football months ago.

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This. My neighbour is the most deluded Yam you'll ever meet but even he opted out of the Pricksack fantasy orgy several weeks ago. Confessed to me that he took a quick the other week and 'cringed' at the nonsense on display.

Like going into a bar in San Francisco's Tenderloin district and listening to a bunch of old jakies untreated for post traumatic stress, slavering nonsense about Vietnam.

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Originally Posted by Filled Rolls

Despite the gallows humour of some of KBs diehards (let's take inflatable Scottish Cups, haw haw), the Yam on the street will finally appreciate the full horror of their demise on Sunday.

My guess is that nothing will shut the Hibs fans up. The game is an irrelevance, what's more significant is that they team they ended forever will be there to wave them off on their great adventure.

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Not so much waving them off on their great adventure, more like the football equivalent of standing on the dockside at Southampton as the Titanic slips over the horizon.........

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Originally Posted by crewetollhibee

Not so much waving them off on their great adventure, more like the football equivalent of standing on the dockside at Southampton as the Titanic slips over the horizon.........

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Try not to spook them. They really believe they are going for a shower. A stampede could be messy.

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Originally Posted by JeMeSouviens

:agree:

Bang on. Sickbag may be full of surreal nonsense but in real life the Yams I know stopped wanting to talk about football months ago.

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More like years!

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Originally Posted by Pray4Marc

AllisBarry has spoken

UBIG creditors' meeting now due 7 April for vote on #Hearts share transfer. Ukio creditors meet Friday but Ukio already approved CVA in Nov.


Borthwick will be tweeting more lies today as well.

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Can someone not tell AllisBarry that there is a difference between the Lithuanian Admin. for Ukio Bankas negotiating a CVA with BDO, and the Ukio creditors who do the actual approving of the CVA.

They may approve it, then again they may not , we can only wait and see.

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Originally Posted by CropleyWasGod

This is the bit I don't get.

Has it actually been delayed? The UKIO admin said it would probably take place "next week". The 7th is a week on Monday.

Was it ever going to happen next week? If it was, what difference does a couple of days make?

Bit of non-news, IMO.

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I think it just illustrates the utter confusion of all that's going on there.

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Originally Posted by Dashing Bob S

This. My neighbour is the most deluded Yam you'll ever meet but even he opted out of the Pricksack fantasy orgy several weeks ago. Confessed to me that he took a quick the other week and 'cringed' at the nonsense on display.

Like going into a bar in San Francisco's Tenderloin district and listening to a bunch of old jakies untreated for post traumatic stress, slavering nonsense about Vietnam.

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Do you mean the Edinburgh Castle bar :faf:

3 jambos in my work cancelled their direct Debits last week , they are gonna be financially sound under budge apparantly.

I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.

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Originally Posted by greenginger

Can someone not tell AllisBarry that there is a difference between the Lithuanian Admin. for Ukio Bankas negotiating a CVA with BDO, and the Ukio creditors who do the actual approving of the CVA.

They may approve it, then again they may not , we can only wait and see.

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I would be shocked and stunned if they go against the advice of the admin. They will get it through.
It's all down to the frozen shares now.

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Originally Posted by Seveno

I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.

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Agreed

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Originally Posted by Seveno

I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.

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Ditto

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Originally Posted by Seveno

I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.

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That's the bottom line. All we have is a year old bloomberg article. We will just have to wait and see.

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Originally Posted by hibbymick

3 jambos in my work cancelled their direct Debits last week , they are gonna be financially sound under budge apparantly.

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I know a couple who have cancelled lately after relentless grief from their wives :greengrin

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Originally Posted by Ozyhibby

I would be shocked and stunned if they go against the advice of the admin. They will get it through.
It's all down to the frozen shares now.

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Think we all knew it was coming down to this, thanks to the experts on :hnet:

Sit back and stick the beers in the fridge. It's win,win :wink:

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Originally Posted by Seveno

I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.

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Its not so much as the shares being frozen or unfrozen, more like how easily the UBIG admininistrator can deal with them.

He/She is an appointee of the Lith. Court so it may be a simple application and a rubber stamp, then again it might not be that easy :confused:

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Originally Posted by Onion

Well it won't be Hibs fans.

This is the boiled frog analogy. If you went back just 18 months ago and showed the Yams a picture of where they are today, they would have dismissed that as a Hobo wet-dream, a complete fantasy. Jees, just 6 months ago, we, they and most everyone else thought they would escape relegation (despite the 15 point deduction). 6 months ago they were talking about being out of Admin in time for Christmas and signing Rudi and some top players to take the league by storm.

Today, the end of MARCH, and they are still stuck in Admin, guaranteed to be RELEGATED, almost out of money, no new signings, cannot sell Season Tickets, and in genuine danger of being relegated by HIBS - the team the supposedly killed off two years ago. This is a Yam nightmare, despite their bravado, 5-1, 1902.

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Indeed. There seems to be a black or white situation developing here. If they're not liquidated then they've got away with it, and there's no middle ground.

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Originally Posted by Jack

I think it just illustrates the utter confusion of all that's going on there.



Do you mean the Edinburgh Castle bar :faf:

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EC wasn't too bad when I was last in there, though that was a few years ago now. Harrington's was always a very colourful experience, but you needed a few inside before venturing in there.

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Originally Posted by greenginger

Can someone not tell AllisBarry that there is a difference between the Lithuanian Admin. for Ukio Bankas negotiating a CVA with BDO, and the Ukio creditors who do the actual approving of the CVA.

They may approve it, then again they may not , we can only wait and see.

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Woah, this looks like an Amber light to me

AllisBarry is only interested in green lights & rubber stamps

All very complex

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Originally Posted by Ozyhibby

Eh?
The big L is the end. There is no way back from it.

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Newco is coming.

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Originally Posted by Ozyhibby

It's what I think as well but only based on the opinions on here, one Bloomberg article and a few references to Portsmouth.
I'm surprised at the complete silence on the issue from anyone connected with Hearts including BDO. This little Jambo omertà means that I can't be sure that they have not had assurances from people in Lithuania that achieving the CVA will be enough to unlock the freezer. BDO appear to be making more progress than many on here predicted.

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I think they have made good progress but as about as much progress as the can without the Micro Wave.

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Originally Posted by JeMeSouviens

I don't think there's any particular effect on the CVA. I think if they get hold of more than 30% of the company, they are legally bound to offer all other shareholders the same price and if they get hold of 90%, the other shareholders are bound to accept. At 85% though, I think Olga could be left with her holding if she so chooses.

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That applies only to publically quoted Companies.

Otherwise it is 95%.

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Originally Posted by Dashing Bob S

EC wasn't too bad when I was last in there, though that was a few years ago now. Harrington's was always a very colourful experience, but you needed a few inside before venturing in there.

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Ah, Harringtons on Embarcadero, many happy hours spent there. Right next to The Royal Exchange, known in SF as The Body Exchange due to the Friday night shenanigans!

Separately an earlier poster commented about how David ( spotty ) Rowland's wife Sheila had helped save Hibs. Quite correct though I think her loathing for her husband then may have had more to do with him having fathered a child by another woman rather than any love for Hibs! She was however disgusted at Rowland's actions, (how much money does one person need?) & she was genuinely touched by our plight.