all very confusing. the Lith man says ukio bankas will take a descision as to move it forward, yet it's the biggest shareholder who is still waiting on the assets being de-frosted. what is your take on it?Quote:
Originally Posted by greenginger
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all very confusing. the Lith man says ukio bankas will take a descision as to move it forward, yet it's the biggest shareholder who is still waiting on the assets being de-frosted. what is your take on it?Quote:
Originally Posted by greenginger
I'm not GreenGinger, but I'll pass on my opinion.Quote:
Originally Posted by monktonharp
The UBIG assets were frozen by the Lith Fraud Squad for good reason - they were committing fraud on an industrial scale. These investigations haven't even got around the first lap in what could be a 60 lap race. Nothing is going to be rectified in the short term while investigations are ongoing. HoMFC are complicit in the ruse and folks will be called to task. Fedotovas and Goncaruk and hopefully Deans will be questioned. Vlad is long gone.
The shedding of the 50% shareholding simply isn't going to happen any time soon and no amount of spin by BDO and/or FoH can change the lay of the land...in this case, Lith Land.
...and the scottish press, they are still soft-soaping on almost every aspect of what is a pretty grim tale.Quote:
Originally Posted by Sergey
Quote:
Originally Posted by Sergey
I know this is a silly Q, but here goes. How long do "you think" this could take? :wink:
This could go two ways.Quote:
Originally Posted by LeithenHibby
Scenario 1 - BDO rush them out of administration as per Portsmouth FC; a very similar case, a fraudulent Lith bank owned by a Russian crook funding a football club to launder money. They subsequently went into administration a few more times and are now in the bottom league of English league football. Antonov is still fighting his case some three years down the line while Portsmouth are well and truly screwed. That scenario would suit moi.
Scenario 2 - BDO can't negotiate the transfer of shares from the Lith Fraud Squad as they're tied up in a 'Proceeds of Crime Act' (or the Lith equivalent). Bid by FoH can't succeed and Liquidation is a formality. That scenario would also suit moi.
Scenario 3 - There isn't one.
Scenario 1 please :agree: :greengrinQuote:
Originally Posted by Sergey
Im excited.
Assets frozen to stop Vlad selling them. Can easily put proceeds of sale in trust until legal situation sorted out., Given reports that we have seen coming out of Lith and FOH offer this news means we are likely to move to liquidation quickly.Quote:
Originally Posted by Haymaker
You keep going on about putting the proceeds into a Trust. I seldom if ever hear of this happening in the corporate world. Now I could well be wrong - I have been many times before. Do you have examples of where sale proceeds following a corporate sale of a business have been put into a Trust??Quote:
Originally Posted by desantos0773
comments noted and appreciated Serge. when I mention "Lith man" I don't say that, lightly. Lithuania is a soveirgn state which was at the forefront of the dismantling of the auld USSR and should be given the respect it deserves. their laws, I'd imagine are fairly well developed and enshrouded in what is equal and fair for their citizens. many of their countrymen have been well shafted by people like Romanov for years and the government of the day has been elected on the premise of ridding the country of such. I'd expect that the "Lith" law is applied to the full and the citizens /investors are given a fair shout when monies are reclaimedQuote:
Originally Posted by Sergey
Absolutely, to their utter shame.Quote:
Originally Posted by Kato
I think the Ukio Bankas Admin. is saying he will be advised by the Ukio Bankas Creditors Committee which has been set up by some of those stiffed by the Bank.Quote:
Originally Posted by monktonharp
This was the committee that kicked up stink when it considered the assets of Ukio Bankas were being transferred to cheaply to the other Lith. Bank.
I don't think they can have an official role but reading the Admin's statement again, he seems to be happy to take guidance from the Committee, which suggests to me it will be bad news for the FoH bid and it won't be his decision.
Of course I might be reading too much into an STV report.
Quote:
Originally Posted by Sergey
:top marks Very Pleasing............. :greengrin
It pays to ask the silly Q's methinks ..... :wink:
One would hope and expect that the Lith fraud polis are in touch with their Scottish counterparts in the Serious and Organised Crime squad, and those Scottish counterparts will undertake an investigation into the financial goings-on at Tynie. My understanding is that company directors can't use "I didnae ken what wiz goin' oan, I only did what I wiz telt and anyway I wiz only there tae watch the games" as an excuse if there is prima facie evidence of money laundering. Same for auditors and other professional advisers, too.Quote:
Originally Posted by Sergey
Could be BDO have concluded the offer isn't good enough anyway, regardless of what may happen in Lithland.Quote:
Originally Posted by monktonharp
Or maybe they've uncovered evidence of financial jiggery-pokery, in which case they could be about to call in the polis...:greengrin. We can only hope.
Does anybody in the know how much BDO's bill is currently standing at ?
Nobody knows for sure but ill be very surprised if its less than 500k thats for sure.Quote:
Originally Posted by AlbertK86
P.S. Duff and duffer took 2.7m from the oldco huns.
I see Shoe Salesman Bob must have tried to by-pass BDO and made a new offer direct to the Ukio Bankas Lithuanian Administrator.
He wants to buy the 29.9% share holding and the Club leaving the PBS to the developers.
Has'nt gone down well with the Foundationers :greengrin
I saw that, too.Quote:
Originally Posted by greenginger
TBH, it's his right. UKIO are in admin, they have assets to sell, so he's entitled to make an offer.
Why he would do, though, is beyond me.
Slippery Salmond in the EEN offering political intervention!!
@BarryAnderson_8: First Minister Alex Salmond willing to intervene if political help is needed in #Hearts administration process. Story in today's EN. #HMFC
Pishy Breeks nose out of joint so reminds #allisbarry. Hope he is as forthcoming when moobs go soaring.Quote:
Originally Posted by Zondervan
George Foulkes @GeorgeFoulkes13m
@BarryAnderson_8 Hearts are already getting political help in Administration process. Meetings with Lithuanian Ambassador for example.
Interesting that they think this might be necessary now. What's changed last couple of days?Quote:
Originally Posted by Zondervan
I would have thought the wee oil works up the Forth Estuary should have higher priority right now.
Fatty and Slippery can do what they want as Hearts fans.Quote:
Originally Posted by Ozyhibby
As politicians, they shouldn't be going near this. By doing so, they are condoning fraud, money-laundering and all the other corruption that came out of HoMFC.
And as mentioned above, there are far greater things on the Scottish political agenda (such as Grangemouth) that they should be looking to politically intervene in.
I guess his idea is to gain control of the Club, get them to play at Murrayfield/livi until the Council build a new Yam Dome or the Garden District stadium gets built.Quote:
Originally Posted by CropleyWasGod
Had to laugh at the report on the BBC (London) News this morning. "Grangemouth, near Falkirk."Quote:
Originally Posted by greenginger
:rolleyes:
But he wouldn't with only 29.9% of the shares. UBIG's admins would still have control.Quote:
Originally Posted by greenginger
Or have I missed something?
Not to mention tax evasion and ripping off charities and small local businesses.Quote:
Originally Posted by Zondervan
Behind the scenes briefing from BDO that the cash is fast running out and FOH's bid is a busted flush???Quote:
Originally Posted by Ozyhibby
I wouldn't have thought so! The only thing I can think is he's trying to decouple the property assests from the playing assets, branding and 'goodwill' whatever that is.Quote:
Originally Posted by CropleyWasGod
That way he might be able argue to the Lithuanian authorities that the real assets remain frozen and something that has no real value can be spun off to continue while the criminal investigation and admin process run their course.
It might also be in FoH's interests to get the club without the ground and try to get some rental agreement in the meantime for Tynie. But whatever happens it is clear the Liths won't settle for anyhting less than market value for Tynie.
Always look for the small print in Barry's articles.
Quote:
BDO are working closely with Ukio Bankas administrators Valnetas in the hope that they will accept the proposed CVA. Foundation of Hearts have offered less than £3m to the club’s biggest creditor, whilst Valnetas have stated that £5m is their desired amount.
Valnetas (Ukio admin) have delayed making a decision thus far and BDO are now becoming concerned. Valnetas have indicated that they will give a response to whether they would be willing to accept the Foundation’s offer in principle within the next week, however they have missed such deadlines previously.
Valnetas have put a list of questions to BDO regarding their CVA proposal and BDO have responded with answers in the last few days. BDO are hopeful, but not certain, of receiving a response from Valnetas within the next seven days.
Bob Jamieson is a time waster / Walter Mitty character. Any proposal made by him should (and probably will) be ignored.Quote:
Originally Posted by Liberal Hibby
I think it will be a first step. If he has the Club Name, SFA membership etc the rest of the business could be liquidated and HOMFC allowed to plead " we are the same club " .Quote:
Originally Posted by CropleyWasGod
Its just we now play at Saughton Enclosure. :greengrin
Just the headline ! Reading the actual article if you were a yam you would be very wary.Quote:
Originally Posted by Ozyhibby
http://www.edinburghnews.scotsman.co...vive-1-3145617
A few choice lines.
- BDO are concerned that the UBIG administrators could make life difficult as they try to get hold of the 50 per cent shareholding...
- Foundation of Hearts have offered less than £3m to the club’s biggest creditor, whilst Valnetas have stated that £5m is their desired amount.
- Valnetas have delayed making a decision thus far and BDO are now becoming concerned.
As Banderson has written this story, I'd be very cautious about accepting any of the figures above as fact. Although I suppose "less than £3m" gives him a fair bit of wiggle room - anything from £1 to £2,999,999 is technically correct.Quote:
Originally Posted by Treadstone
Nothing official from the First Minister, Swinney or the Lithuanian ambassador. Bit of a reach from #allisbarry.Quote:
Originally Posted by jacomoseven
BDO beginning the softening up process for the inevitable outcome?Quote:
Originally Posted by Treadstone
Still don't follow.Quote:
Originally Posted by greenginger
If he buys 29.9% of the club's shares, he owns 29.9% of the Name and SFA Membership. If he wants them to himself, he would have to buy them from the administrator/liquidator as a separate exercise.
Are the Name and SFA membership not separate assets of the business completely separate from the shareholdings ?Quote:
Originally Posted by CropleyWasGod
OK im confused now..... and this might have already been asked and/or answered but:
Ukio Bankas admin own 29.9% share and have a security over tyncastle.
UBIG (soon to be admins) own 50% of the shares.
Who exactly are BDO putting the proposal to? for example FOH offer 3 mill for the 29.9%stake including tynie, surly that means sweet FA if approved as they would still need to get the 50% stake from the UBIG admins? what would happen if they rejected any bif from FOH?
to me it looks like FOH need to agree a price with 2 seperate parties to gain control......and 3mill or even the mythical 5mill quoted would surely come no where near to the amount deemed acceptable by both parties involved?
No.Quote:
Originally Posted by greenginger
If you own shares "in" a company, you have a share "of" that company's assets and liabilities.
In Hearts case, there are assets of, say, £5m. That's the property, the playing staff, the SFA membership, the brand etc. Those assets are owned by the company, but the company is owned by its shareholders.
In round terms, then, UKIO have ownership of c£1.5m of Hearts' assets and UBIG £2.5m.
That's why I don't understand why Jamieson would want UKIO's shares. They are worthless and don't give him any leverage over UKIO's stance. (although I'm open to argument on that point).
If he wants to buy the name etc., that's fine, I can understand that. But that would come once BDO decide they are selling off the assets individually, rather than the shares (ie the company as a whole) which is what they're trying to do just now.
Looks like a typical #AllIsBarry article.Quote:
Originally Posted by Treadstone
Event: Hearts on the brink of liquidation.
Barry: Alex Salmond offers political help to hearts.
Quote:
Originally Posted by CropleyWasGod
Point taken. Could Jamieson not simply be wanting to be in the queue should an asset sale start.
We all saw what happened at Govan with D&P and Sevco.
He could be.Quote:
Originally Posted by greenginger
BUT :greengrin
Why bother with the UKIO admins? The fire-sale would be held by BDO.
BDO have two parties to deal with.Quote:
Originally Posted by Hibee87
In money terms, it's UKIO who have to be satisfied. Their shareholding is irrelevant, it's the fact that that they have security is important. They are the only creditor who are likely to get anything. (although see below).
For there to be anything for FOH to buy, though, the shares held by UBIG have to be obtained. UBIG's administrators might want something for them.
Probably wants it to be known he is still an interested purchaser and is getting ignored by BDO so he goes over their heads to their employers.Quote:
Originally Posted by CropleyWasGod
He is a shoe salesman from Peebles after all.
If there is a fire sale it will be a private deal with FoH is the way I see it panning out.
Yeah, mischief-making. That crossed my mind yesterday when I saw him talking about it it on Facebook and the likes. It's like writing open-friggin-letters. What is the point, other than getting your name in the papers?Quote:
Originally Posted by greenginger
On the fire-sale point, I think BDO would do well to avoid the Sevco situation. They would, or should, make it a clear public sale.
Thanks, understanding more now :aok:Quote:
Originally Posted by CropleyWasGod
:agree:Quote:
Originally Posted by #FromTheCapital
If the matter becomes political. What does that mean?
Other than that, a rehash of the facts, and some innuendo. Meanwhile, a tacit admission that there may be trouble ahead.
Why? Have Duff and Duffer got into any trouble at all for the apparently dodgy way they selt stuff off? :dunno:Quote:
Originally Posted by CropleyWasGod
Quote:
Originally Posted by Filled Rolls
I guess that would be if there are signs that hostilities might break out between Lithuania and Scotland. Sons of Macrae seem on manouevres in the Pentlands, for example.
"Vlads army" in last line of defence.Quote:
Originally Posted by Seveno
Not yet.Quote:
Originally Posted by lapsedhibee
BDO may yet raise the issue.
Quote:
Originally Posted by Sergey
:aok:, seems perfectly reasonable Sergey....
It certainly should be and, in my opinion, will be.Quote:
Originally Posted by greenginger
spot onQuote:
Originally Posted by PapillonVert
When did Valnetas say that £5m was the "desired figure"? Or is #allisbarry making **** up again?
The answer to that would be.....NO.Quote:
Originally Posted by lapsedhibee
I see Rodneys back wi the shares :greengrin
https://encrypted-tbn3.gstatic.com/i...Z4OM-E2z7X-mIg
Exactly. I don't think any figure has been made public other than "rumoured" ones. Barry as a source of "rumoured" figures has a great track record.Quote:
Originally Posted by The Falcon
Quote:
Originally Posted by Kato
I could be wrong but did FOH not bid 3m and were told that they would need to up the bid by millions?
If that's the case the minimum that would be is 2m which would meet the best case figure that wee Barry is quoting?
I'm sure Foh's of £3m included their working capital as well and their actual bid to the Lithuanians was much lower.Quote:
Originally Posted by KeithTheHibby
It was roughly 3m plus working capital which was to be the monthly direct debits. Had it been 3m less working capital they probably would'nt have been the preferred bidder.Quote:
Originally Posted by Ozyhibby
They were very low, but effectively the only bidder. I don't think BDO saw the crook or the fantasist as legitimate bids.Quote:
Originally Posted by #FromTheCapital
Quote:
Originally Posted by Dashing Bob S
Which one's the M.P.?
Both :greengrinQuote:
Originally Posted by WindyMiller
Quote:
Originally Posted by hibees 7062
Boom, tissshhhhhh.
:thumbsup:
Hearing that FC Wolfsburg are playing Hearts in a fundraiser.
http://spfl.co.uk/news/article/heart...olfsburg-game/
Maybe it's opportune to inform our green brethren that they are subbing a mob of tax cheating, charity thieving paedos.
Will this match be in No Mans Land on Christmas Day, and Paul McCartney as the referee? Proud, if slightly confused. :confused:Quote:
Originally Posted by Dashing Bob S
A Wolfsburg in Aberdeen clothing?Quote:
Originally Posted by Dashing Bob S
:top marksQuote:
Originally Posted by Filled Rolls
Yes, that's what they are calling the rebranded Tynecastle till the assets issue is finally settled.
Stevie Wonder is giving up his time free to perform linesman's duties.
:greengrinQuote:
Originally Posted by Filled Rolls
Ahaaaa. :greengrinQuote:
Originally Posted by Springbank
Vladimir Romanov, international man of mystery.
http://www.scotsman.com/sport/footba...anov-1-3148795
Quote:
FORMER Hearts owner Vladimir Romanov has vanished, according to the Lithuanian Government, who admit they don’t have a clue where he is. A warrant has been issued for the ex-Tynecastle chief to return to his country to face prosecution from Lithuanian authorities for non-payment of debts when his Ukio Bankas went bust, for which could serve seven years in prison if found guilty.
However, the man who was once the most controversial figure in Scottish football appears to have disappeared entirely. He was last seen in Russia, where he was reportedly receiving treatment in a Moscow hospital for a stroke, and was then pictured sunning himself on a Russian beach – a photo which caused outrage in Lithuania.
Now Lithuanian authorities have admitted there is no point asking their Russian counterparts to deport him because they don’t know whether he is still in the country. A spokesman for Lithuania’s General Prosecutor admitted: “Romanov’s presence in Russia has not been confirmed by any official document. “So we cannot provide a legal reason to go to this country and ask for international legal assistance. We continue to carry out all legal avenues to bring Mr Romanov to face the public prosecutor.”
Matters have been complicated further because the Russians have refused to even confirm whether Romanov was ever in the vast country. Visa rules state that a foreign citizen must not spend more than three months in Russia, but it is now five months since Romanov was reportedly receiving treatment in Moscow. The Russian Embassy in Lithuania has refused to respond to local media’s requests for confirmation he has left Russia. And Lithuanian authorities have been led to believe that the 66-year-old has fled Europe. Romanov, the chairman of Ubig Investments, which holds a majority shareholding in Lithuanian bank Ukio Bankas, took control of Hearts in 2005.
Stay safe sweet prince
http://www.scotsman.com/sport/footba...anov-1-3148795
Scotsman :confused: Still can't get the facts right.
1. Vlad chairman of UBIG ..... All UBIG directors resigned 6 months ago.
2. UBIG the majority shareholder in Ukio Bankas :confused: ...... Vlad held the Bank shares personally.
Whats the chances Romanov is holed up in a flat in Wester hailes?
#AliceBarry: More proof that Romanov is a very bad man and THEREFORE it was all his fault that Hearts are in trouble and THEREFORE it would be wrong to punish Hearts any more for something that's not their fault.Quote:
Originally Posted by Part/Time Supporter
Nae chance..Quote:
Originally Posted by Waxy
We'd not have his sort around here :cb
"Visa rules state that a foreign citizen must not spend more than three months in Russia, but it is now five months since Romanov was reportedly receiving treatment in Moscow."
Is the sweet prince of darkness not Russian or have dual citizenship for Russia and Lithuania? Wouldn't have thought he would need a visa - probably a (share issue) cash only person these days anyway.
yes he hasQuote:
Originally Posted by Jack
more cutting edge journalism from the evening news
I hope he does a better job than his tribute act did when Griffiths hit that free kick last season.Quote:
Originally Posted by Dashing Bob S
Or in the tincastle safe :greengrinQuote:
Originally Posted by Waxy
I'll keep an eye out for him here. This country has previous in terms of being a destination for wanted international criminals..,
The yam bams have a cunning plan:
http://www.bbc.co.uk/sport/0/football/scottish/gossip/
Worth noting in this context that there is legislation now in England & Wales (but not Scotland) that allows for football grounds to be designated for that use only ("assets of community value"). "It means a community group... would have the first right to bid for the stadium if the owners ever tried to sell up."Quote:
Hearts supporters want the club's Tynecastle Stadium to be designated a listed building to prevent it being turned into flats as they fear Ukio Bankas, the club's main creditor, could refuse a fans' buyout and sell it to developers to recoup their debt.
Full story: Sunday Mail (print edition)
http://www.bbc.co.uk/news/business-23695199
Quote:
Originally Posted by Part/Time Supporter
The main stand was listing to the left last time I looked! Should have been demolished many years ago.
Hope Wolfsburg take this seriously. A severe beating could be on the cards.Quote:
Originally Posted by Dashing Bob S
And what happens when the Council builds the New Super Maga Yam Dome and the Hertz want to cash in their Tynecastle real estate value ?
I suspect wongadome preservation was also behind the recent rush job to erect a plaque, rather than a simple wish to honour the war dead.Quote:
Originally Posted by Part/Time Supporter
the Yams will probably try and get Tynecastle designated as part of England then!Quote:
Originally Posted by Part/Time Supporter
Quote:
Originally Posted by Part/Time Supporter
http://www.dailyrecord.co.uk/news/sc...castle-2472901
'An insider said: “Anyone thinking of buying Tynecastle then demolishing it for flats or a supermarket might be put off if it becomes listed.”
Translation : 'It's now obvious that FOH's 'Pie-in-the-sky' plan is Donal-Ducked but we will do anything other than re-pay the money we stole - why can't the Lithuanians accept it's obviously far more important that we continue to play football rather than little-people's pensions/life-savings ??'
:faf::faf:Quote:
Originally Posted by Deansy
Its a ramshackle tin shed, its got as much architecture as an auld warehouse! S#ithole gets listed, oh ma sides. :faf:
Pick the odd one out from these "Architecturally Interesting" Football Stands
Attachment 11188 Attachment 11189 Attachment 11190 Attachment 11187
well i think the asbestos arena main stand should indeed be listed, it gives us modern 21st century public a chance to see what football stadiums were like at the beginning of the last century before the first world war :agree:
If he has Russian citizenship, then he cannot be extradited from Russia to Lithuania as the Russian Constitution prohibits the extradition of Russian citizens.Quote:
Originally Posted by Jack
Quite funny really. Desperate times and desperate measures and all that.
List the building ha ha it's not worth a ****. As someone posted earlier I think this is the reason they stuck the we won the war plaque on the wall of the building.
Tbh they still all think the Liths are going to roll over and say don't bother bout the money just take the ground for nowt as a gift.
Delusions if grandeur they make me laugh
They also dont realise then that if it`s listed they cant modernise it or alter it and the fact that it`s falling down around their ears means that this is work that will HAVE to be done if they want to continue playing there. Also, having it listed means that if they wanted to move, it would make it impossible to sell so they couldn`t cash in on the site either. Methinks that these idiots haven`t really thought this one through......Quote:
Originally Posted by Deansy
Just found out that the young lad, Craig Moore, who scored the first Motherwell goal was with Hearts as a youngster for 6 years. They must be really proud of the youngsters they produce.
Clearly it is desperate measures time and every trick in the book will be used now to help them to shaft people out of millions of pounds under the romantic notion that supporting a finacially reckless football team is more important than anything else.Quote:
Originally Posted by SurferRosa
To apply to get a building listed that the club had previously applied to demolish and rebuild beggars belief and is a cynical exploitation of the system. If Historic Scotland allow themselves to be used in this manner it is disgraceful and I am sure local councillors will prove easy to deal with if ever a new owner applies for planning permission when it is listed. Stinks.
A very good point which i`m sure will be made to a number of papers and journos....:greengrinQuote:
Originally Posted by Spike Mandela
Hearts fans call themselves "the famous" :faf::faf::faf::faf::faf::faf:
Actually one of the funniest things i've seen in a long time, they really are the height of cringe aren't they! Famous for what exactly? Poppy stealing? Charity robbing? Pedophile employing? Sucking up to the huns and trying desperately to copy them in every way? For having a fan base soo incredibly arrogant and deluded they couldn't see the inevitable car crash? For cheating to get ahead?
Yes, hearts really are "a unique and special" club indeed :rolleyes:
An embarrassment of a club, absolutely rank rotten right to its core.
Quote:
Originally Posted by keekaboo
No4 appears to be a redbrick tenement. So I'll stick my neck out and go for that. Do I win something?
I'll say number 2 as its a different colour ( as opposed to number 4 which really resembles an actual No 2!)
Came across this on twitter.
All the overspending worth it when this CVA is announced (been agreed in principle) tick tock no more coming soon. #stillhurting #1-5.
aww cute, bless them. they just don't get it do theyQuote:
Originally Posted by Www1875hfc
:ostrich::ostrich::ostrich:
Aww, sweet, these kind of jambos are my favourite.Quote:
Originally Posted by Www1875hfc
The ones who are so far from getting it that they think a CVA is a chance to forget everything and get on with spending more and more money again that they don't have (and which no bank will lend them, given their recent credit rating).
Just like their big brothers in Govan.
I hope these guys win the day within the FoH "movement", because these types of Jambo **really** don't realise that their approach (learning nothing from the past) will only lead to admin2, quicker than the last time, and more likely to go straight to liquidation.
Ignorance will be no defence come the day of reckoning