It's a directors' decision, normally, rather than owners.Quote:
Originally Posted by Geo_1875
Unless, of course, an external party does it.
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It's a directors' decision, normally, rather than owners.Quote:
Originally Posted by Geo_1875
Unless, of course, an external party does it.
So is it that today's events are a forgone conclusion or that the outcome is irrelevant?Quote:
Originally Posted by desantos0773
is this it? is today the day? It seams like all the stars have alligned and somewhere in Lith there is a man with his finger on the trigger, I have high hopes that today will be a bad bad day for our pink chums
I think that it is only the club directors, or a UK court, that can hit the insolvency button.Quote:
Originally Posted by Geo_1875
Thought UBIG didn't have any Directors...?Quote:
Originally Posted by CropleyWasGod
Hearts directors.Quote:
Originally Posted by grunt
I think I'll just assume everything is still fine as I don't understand any of the above.
If it works for the yams, then it works for me :ostrich:
Yup, the Lithuanian court can't order HMFC into administration, but they can start a chain of events which would lead to that.Quote:
Originally Posted by hibs0666
ie if the Lithuanian court declares Ukio bankrupt, that gives the Lithuanian Govt authority to demand their money back. HMFC (or some other third party, such as FOH) has to make an offer to them in repayment.
If they can't make a satisfactory offer, then HMFC has to apply for administration to protect itself from the Lithuanian demand. Administration would also give them more time for a third party offer to come forward.
Oh yeah, duh!Quote:
Originally Posted by CropleyWasGod
Are they dead yet !? Are they dead yet !? Are they dead yet !? Are they dead yet !?!!
This is killing me ! I want to know If I should go out and celebrate.. :greengrin
No; not labour policy. Just a yam phandango member of parliament rehashing the "we owe it to ourselves" gibberish. He'll nevet make it to the treasury select committee. Actually, he probably wll ... :-(Quote:
Originally Posted by bighairyfaeleith
And he thinks the last thing the lith govt want to do is bring down hearts? The last thing the lith govt is thinking of is a ****my wee cheating backwater club.
That can't be right. An Hearts-supporting politician said all would be fine. Where have we heard that before......?Quote:
Originally Posted by Mikey
http://farm2.static.flickr.com/1018/...c47c909b_o.jpg
Sickbag should be like this today:
http://images.wikia.com/glee/images/...body-panic.gif
Instead, as usual with the collective brain cell asleep, its....
http://www.polyvore.com/cgi/img-thin...e=l&tid=892668
Under European bankruptcy law if UB and then UBIG made bankrupt then the the Lithuanian authorties can make HMFC baknrupt to if its assets belong to UB/UBIG.Quote:
Originally Posted by Part/Time Supporter
Hearing is this afternoon.
At which point Hearts will jump before they're pushed.
In all the excitement I am getting myself confused. If UBIG are put into administration/liquidation by the Lith court today do Hearts suffer the points penalty as it is their owners?
Hearts assets don't belong to either, though. They belong to Hearts.Quote:
Originally Posted by desantos0773
The majority of Hearts' shares, though, belong to UBIG.
Does that make a difference?
If UBIG are put into admin then hearts will get a points deduction. But as far as I know that won't be happening today as this hearing regards Ukio Bankas, not UBIGQuote:
Originally Posted by PatHead
I thought the hearing today only related to the administration of Ukio and possibly declaring it bankrupt.Quote:
Originally Posted by desantos0773
HMFC better get their skates on then, as it's already gone half 12 in Kaunas.Quote:
Hearing is this afternoon.
My take on this is.
1.ukio enter proper administration/liquidated today.
2.debt recovery commences.
3.ubig cannot pay and will go into administration.
all the talk from the experts in the press seem to suggest hearts are way down the pecking order.
they fail to explain that ubig must be top of the list and as we have been told for years
ubig and hearts are one and the same.
when ubig go so do hearts:aok:
Pretty much sums it up, but a wee side note to UBIG going into admin, would mean Hearts would be deducted 18 pointsQuote:
Originally Posted by Glesgahibby
BBCBMcLauchlin @BBCBMcLauchlin 3m A decision from a Kaunas court on Ukio Bankas being declared bankrupt may not be made public today. #bbcsportscot
So is my take on this correct?
Hearts are classified as bad assets so will be offloaded from ubig ASAP, whether that's to another buyer or they're stripped down and broken up. They want as much money from them as possible and nobody is going to buy hearts for £15million, so administration and total jambogeddon is the most likely outcome.
They are then deducted 18 points and relegated from the spl - preferably after we trounce them at tynecastle.
Is this the long and short of what might happen today?
Why the **** not?! This is killing meQuote:
Originally Posted by Joy Zipper
I think 'bad smell' is the phrase your looking for.Quote:
Originally Posted by Jones28
Flushing is the best solution I find.
Apparently there is a delay due to a well known Russian/Lithuanian "businessman" sitting in the courtroom with his underpants on his head and a pencil up each nostril saying "Wibble, wibble".Quote:
Originally Posted by Jones28
if not today then when?Quote:
Originally Posted by Joy Zipper
:grr: Baaah ! Tell us !! Leith is gonna run dry in the next few days..Quote:
Originally Posted by Joy Zipper
That will be to give the affected businesses (including Hearts) time to figure out what they are going to do before it becomes public knowledge.Quote:
Originally Posted by Joy Zipper
Hearts said earlier in the week in response to the Sun story that they would know before anyone else if they would have to go into administration.
And presumably this is where hearts would appoint their own adminstrator? :confused:Quote:
Originally Posted by Part/Time Supporter
Aye. Now away and take yer dug for a walk:wink:Quote:
Originally Posted by Jones28