The liquidators of UBIG would call in the debt, part of which is secured. Once it was clear that the debt couldn't be repaid, they would exercise their security and take possession of Tynie.Quote:
Originally Posted by inglisavhibs
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The liquidators of UBIG would call in the debt, part of which is secured. Once it was clear that the debt couldn't be repaid, they would exercise their security and take possession of Tynie.Quote:
Originally Posted by inglisavhibs
Have you ever come across a liquidator grant a long term lease on a property asset ?Quote:
Originally Posted by CropleyWasGod
Can't say I have, but I suppose it's feasible.Quote:
Originally Posted by Seveno
It would need the consent of the creditors, though, and I reckon creditors would prefer to get a lump sum now.
The other thing that may be relevant is that a liquidation of UBIG would be under Lith Law, and for all I know things are different.
When have they never GG?, the word deluded seems to been invented with them in mind, hopefully not long now before they join their big brothers in division 3 or even better with their "pals" at Gretna 2000Quote:
Originally Posted by greenginger
:bye:
I was wondering something, what would happen if, after taking in all the new season ticket sales, Vlad shut down the club and did a runner? If he then sold off whatever other assets he could realise, where would that leave them?
Is this a feasible option?
They would be creditors of the club.
400,000 creditorsQuote:
Originally Posted by ancient hibee
The stadium is tide up in so many contractual agreements that the administrator/liquidator/new owners won't be able to touch the stadium or key assets, they will rent the stadium.Quote:
Originally Posted by pogo
There has been so much debt written off to various companies that there is no way there isn't security in the deal, as disclosed today the bank may have been used as Russians to launder money!!
The alarm bells are ringing louder, no one has 1 iota what is going on but its clear its not going to end well.
If they went bust, or even into admin technically the season tickets would be worthless. As was pointed out during the Rangers mess, technically Duff & Duffer could have declared all the season tickets null and void and started trying to charge them all ticket prices.
Its worse than that. Its 0.085 Euros which is about 7.2p.... Just saying :greengrinQuote:
Originally Posted by jonty
And their share certificates would'nt be worth the paper they are printed on. :greengrinQuote:
Originally Posted by ScottB
But seeing they ain't got said certificates yet could they ask for their money back. :wink:
They haven't filed a notice of allotment yet either. :hmmm:Quote:
Originally Posted by greenginger
What does that mean?Quote:
Originally Posted by Caversham Green
I think its where you grow vegetables. :greengrinQuote:
Originally Posted by bingo70
Yams are vegetables.Quote:
Originally Posted by hibee_nation
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Originally Posted by Caversham Green
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Originally Posted by bingo70
I think he's alluding to the only viable plan for the PBS land after it's been sold off
:wink:
It's a form that has to be filed at Companies House when a company issues new shares. It has to be filed within a month of allotment (i.e. issue of the shares), which should have been about three weeks ago. Until it's filed the shares don't officially exist.Quote:
Originally Posted by bingo70
Am I correct in thinking that they have two months to do this? So they still have a week and a bit=ish?Quote:
Originally Posted by Caversham Green
So they've just effectively given Vlad money for nothing.Quote:
Originally Posted by Caversham Green
Would it not be illegal to take money for something claiming it was for shares then not register them with companies house? I'd have thought that'd be classed as fraud or theft or something?
What's your suspicions he's up to with this one?
It's probably just the yams riding roughshod over the law of the land again - they never file anything on time - but in the event of liquidation/administration it would be treated as a failed share issue (they didn't reach the target) and the prospective shareholders would become ordinary creditors who would get nothing as the secured debt exceeds the assets.Quote:
Originally Posted by bingo70
If, as is claimed, they're now operating at breakeven Mr Romanov has just added a million to the amount of debt he can recover.
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Originally Posted by greenginger
the "addams family" would be more apt me thinks
Maybe they have filed it in the Lithuanian equivalent? :confused: :wink:Quote:
Originally Posted by Caversham Green
That's always been the case as even if they receive shares/share certificates they arenae worth a fekn sook.Quote:
Originally Posted by bingo70
Was it ever made clear where the cash from share sales ,cake bakes etc was going to be kept ? I seem to remember the Yams could'nt pay by credit card -cash only.
So,was an account opened here to hold the funds or has Vlad put them under his bed for safe keeping. :cb
That money will be long gone.Quote:
Originally Posted by greenginger
Straight out the country,and in an offshore account. :greengrin
It was needed just for running costs so will have been used as it came in.Quote:
Originally Posted by greenginger
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Originally Posted by Andy74
So, next Fridays wages, will come from _ _ _ _ ?????
Semi-final money and transfer income?Quote:
Originally Posted by greenginger
Cup final and season tickets will cover the two after that and transfer money will cover the first month of the close season.
Can't see anything happening this season but there may be some behind the scenes "shuffling" ready for major changes in the summer.
I did notice afterwards but was chuckling too much to edit. They're both pretry much 0 anyway :greengrinQuote:
Originally Posted by EuanH78
Banking delay until Monday and gate receipts processed.Quote:
Originally Posted by greenginger
At that price Ukio is only worth about £25m. Don't think it could fall much lower before someone throws in the towel.Quote:
Originally Posted by EuanH78