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UBIG agreed to transfer their (arguably worthless) shares for money.Quote:
Originally Posted by NOLA
UKIO's shares will be transferred (subject to Court approval) if their creditors agree to accept £2.5m for their debt of £15m, secured on a property which may be worth considerably more.
There's a big difference.
There's some people in Vlads' circles, and maybe even a bit nearer to home who are seriously exposed to significant criminal proceedings who really will be hoping something exceptional is done for this minor part of his money laundering empire. If it is then they can possibly rely on it as a precedent for other much, much bigger prosecutions not being pursued.Quote:
Originally Posted by WindyMiller
The yam end of the fraudulently used, funded or obtained asset is beer money compared to those still under investigation. If the Lith authorities don't want a straightforward cover up, or have bigger fish to fry then the question has to be why would the courts want to shoot themselves in the foot by releasing the yam shares from all of the assets frozen at the very beginning under the criminal enquiry? The only way to do it is prove that they are somehow different to the rest of the empire.
Why are BDO talking to Lawyers? Are the lawyers going to have a final say in what the creditors will decide or is it maybe some legal thing that BDO need to sort out?
:agree: The difference between the sum on offer, less fees, and the real value of the whole asset if you liquidate it (if only they'd got a proper valuation).Quote:
Originally Posted by CropleyWasGod
Still doesn't amount to a hill of beans without those pesky shares. Obviously not the ones where the cash was put up but no certificates issued. Must be the longest deferral of issue after payment ever?
#allisspoutingpish
Got to be seen to be doing something to earn those fees, while at the same time racking them up.Quote:
Originally Posted by RabMohr
Sorry if this has been posted already but canny be arsed going back over all the pages there are so many
http://www.bbc.co.uk/sport/0/football/26916435
Cav Green deserves a mention too, he's played a big role for us this season.Quote:
Originally Posted by Dashing Bob S
Dunno, but good to see your old avatar back!Quote:
Originally Posted by Mikey
Good point Robert :thumbsup:Quote:
Originally Posted by Dashing Bob S
Where to start with this.....:rolleyes:Quote:
Originally Posted by greenpaper55
Budge, the sole director of BIDCO, is offering around £2.5m for the Ukio shares.
My source in Lith, the Bloomberg journalist, told me that the sticking point is that UKIO want more money - he did not say how much more. But reckons the £2.5 million is so far from what they could get from a liquidation sale and with the Budges fortune public and potrential fresh higher bids, BIDCO have to offer more. Makes sense in terms of the Budge threat.
Hehe welcome back desantosQuote:
Originally Posted by desantos0773
:-)Quote:
Originally Posted by desantos0773
BDO trying their damndest to persuade everyone that UKIO will lose out if they don't accept FoH bid. This might work if UKIO sympathetic to Hearts' plight.Quote:
Originally Posted by desantos0773
However with a 6.8m securiy held on Tynecastle logic instead of sentiment would suggest UKIO crazy not to chance their luck in a liquidation process.
Realistically what have they got to lose.
So if the CVA is rejected, £2.5m for shares in hertz and settlement of security over tynie, and they go to liquidation and get more than £2.5m purely for tynie does that mean hertz are worth less than zero.Quote:
Originally Posted by desantos0773
Well everybody else gets there musical links in. :wink:
Quote:
Originally Posted by desantos0773
Are they allowed to offer more at this stage?
Can they afford to?Quote:
Originally Posted by Kato
1. BIDCO aren't doing the bidding.Quote:
Originally Posted by Kato
2. a revised CVA would have to be put to all creditors, IMO, and BDO don't have the time or the money to do that.
They would be required to prepare a new CVA which would take time.Quote:
Originally Posted by Kato
Absolutely Steve, it was such a formality its been put off until the end of next week. :aok:Quote:
Originally Posted by Steve20
BDO basically saying to UKIO this is the best you'll get from BIDCO which is the same as Budge's threat. UKIO must be debating is there an alternative that would get us more money - a new bid from some other party or liquidation.Quote:
Originally Posted by CropleyWasGod
Contact is going to do more digging. Hopefully, have something more tomorrow morning.
They have been worth -9, since 3 pm today. Cowboys!Quote:
Originally Posted by Geo_1875
BIDCO aren't doing the bidding, though. :wink:Quote:
Originally Posted by desantos0773
http://www.edinburghnews.scotsman.co...tact-1-3367656
Medals McKay thinks Hearts should be proud of the way they've conducted themselves this season...
To be fair, Gary Locke hasn't moaned about the situation, but Billy Brown and dignity?? Are you quite sure??
http://www.dailyrecord.co.uk/sport/f...ansfer-2984555
Quote:
Originally Posted by Geo_1875
No Gary has made no excuses at all. :fibber:Quote:
Originally Posted by jacomoseven
Quote:
Originally Posted by CropleyWasGod
Not going to panic if they get a bad outcome on the 8th April?
We got preferred bidder status back at the start of August.
"The CVA (Company Voluntary Arrangement) proposal was agreed at the Hearts CVA meetings in November, so we've gone through a tremendous process here.
"And it's quite unhelpful to have interjections at the 11th hour. This is dire for the club if the outcome is not positive."
UBIG creditors are set to receive a much smaller sum of between £50,000 and £100,000 following the statutory 20-day notice period.
Tell your contact to save a bit of time and steer clear of anything bidco related.Quote:
Originally Posted by desantos0773
Tee hee. I knew the answer, sort of, but its fun asking questions the answer to which you is uncomfortable for the flumps reading here. (Hiya, Flumps)Quote:
Originally Posted by CapitalGreen
MacKay says that their dignity is intact? Maybe to a guy who will do anything to be heard, like GM. But the last time I looked, going bankrupt, losing your stadium and name, not to mention cheating people out of money, isn't what I'd call dignity.Quote:
Originally Posted by jacomoseven