:tee hee:Quote:
Originally Posted by Ozyhibby
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:tee hee:Quote:
Originally Posted by Ozyhibby
My particular favourite.... it looks like Gary is in residence Attachment 12212Quote:
Originally Posted by VivaPalmeiras
:greengrin
Good spot hahaQuote:
Originally Posted by Jack Hackett
New word for them today
Roasterism:-
To blame others for their misgivings/believing everything but the facts, even when it is written by BDO/FOF etc.
For all you yam roasters looking in better go and get your mummies to read what's written cause it's got a few big words.
I liked the "Beware of Pickpockets" warning. They probably have the same sign at the VIP hospitality entrance.Quote:
Originally Posted by VivaPalmeiras
Pickpockets would be lucky to harvest more than a few coppers these days.
And no mention of 'Frozen-Shares' in the entire article - looking like Brian Jackson has forbidden any mention of them.Quote:
Originally Posted by Platinum Scotty
'Frozen-Shares' - the yams version of 'The Scottish Play' !!!!
They remind me of a walker in the walking dead still alive and breathing but in reality dead with the herd of dead following blood dipping from mouths maroon blood:aok:
I think he/she means drowning.Quote:
Originally Posted by Craig_in_Prague
That is no way to talk about some good under cover hibbys.Quote:
Originally Posted by Filled Rolls
Ah, on the face of it yes but CWG/Robinp will give you the full S.P.Quote:
Originally Posted by Eyrie
But back then he would not know how may cakes were going to be baked.Quote:
Originally Posted by Filled Rolls
He is a Hibby.Quote:
Originally Posted by Kaiser1962
Half convinced e too is a under cover or down under.Quote:
Originally Posted by GreenLake
Keeps them on slow burner.Quote:
Originally Posted by Ozyhibby
Anyone know why the Hearts fans Tweeting FOH asking for an update are being ignored? I can't imagine why that would happen.
Quote:
Originally Posted by Weststandwanab
Sadly he's real, people can be that pathetic.
Maybe they are in a veryveryimportantmeeting?Quote:
Originally Posted by Mikey
Twitter server is probably down.Quote:
Originally Posted by Mikey
Canny remember the password to log inQuote:
Originally Posted by Mikey
"hearts511902"Quote:
Originally Posted by Hiberniankb
:wink:Quote:
Originally Posted by Ozyhibby
They've been retweeting nonsense about 5-1 posters enclosed with match day programmes, but blanking tweets from concerned hearts fans. Looks like they really are creating history #AllIsNotBarryQuote:
Originally Posted by Sergey
It's so easy to remember LIQUIDATION they just can't bring themselves to actually spell it out :wink::wink: ,Quote:
Originally Posted by Hiberniankb
I should imagine that the atmosphere at Tynecastle on Friday evening will be strange, with confusion and paranoia ripping out off the supporters.
So they're still ****ed aye? Just checking, it's been a while since I asked one of my jambo chums .
Dead they are however the life machine is still switched on unfortunatly for them it is frozen their corpse will be found in a tousand years next to a hairy mamal with 5-1 pined on to it yawn
Not at all, the CVA has been agreed and there's just a hold up in obtaining the shares and setting a creditors meeting. Being Lithuania, its a bit involved and a little more complex than previously believed, but everybody is working diligently behind the scenes and it should all be sorted either this month or next.Quote:
Originally Posted by Jones28
:faf::faf::faf::faf::faf::faf::faf::faf::faf:
Response on twitter from @foh
@The_FOH: it's as you were, no news at all - process continues. Understand everyone's frustration. Patience etc.
Have they said what this process actually is, other than FOH/BDO phoning the UKIOS/UBIG admins once or twice a week and asking them what's happening and being informed that the courts haven't really told us anything yet?Quote:
Originally Posted by grunt
#AllisveryFrustrating. :greengrinQuote:
Originally Posted by grunt
Brilliant! Here is the tweet they were responding to:Quote:
Originally Posted by grunt
"@markcalder1: @The_FOH how did yesterday's meeting in Lithuania affect the process? Alot of rumours about liquidation, is this a real possibility?"
Completely dodged the awkward liquidation question.
If I were a herts fan, I would be asking those connected with my club, and those trying to buy my club -
What timeline are you working to, that's you, not Lithuania?
How much money do you have?
What happens if events from Lithuania do not unfold aligned to your timelines?
What is the plan, in the event of the above answer being liquidation?
But I appreciate I'm but a peg selling hobo junkie.
REAL herts fans are far too busy colouring in the '1's and '5's in their home-made posters really, really neatly. :agree:
Heard they got new sponsor - Dr Pepper...
"whats the worst that can happen...?"
Anyone got any clue to timelines we can expect to hear the fate of them, as I want to be in country but all is quiet at the moment and I don't want to miss out! Hopefully its the big L and soon!!!
End of the season is the most likely. Doing it before then causes considerably more headaches for all involved and the other teams in the league as well. Whether they have enough funds to do that is still a question that nobody is answering.Quote:
Originally Posted by jakeshibs
Thanks - hope you're right.Quote:
Originally Posted by Weststandwanab
I've maintained all along that the precedent set by Gretna will be used by the SPFL to keep them alive with the prize money. Didn't realise until today that the SPFL may be able to deduct the football debts from that prize money first, in which case there won't be be much left for life support.Quote:
Originally Posted by Bajillions
Probably. Can't imagine HMFC struggling on til the end of the season just to save the administrators at Hampden a bit of fuss. If it becomes clear the game is up, why carry on for a single day longer?Quote:
Originally Posted by Eyrie
Thanks bajillions! and thank you for all your other insights, it always makes my day to come back here and read they are still Donald Ducked... the sooner the better for me but cheers again..Quote:
Originally Posted by Bajillions
They might need the goodwill of the footballing authorities if they want to a get a Newco back into the League structure at the first attempt.Quote:
Originally Posted by jacomoseven
Beat me to it.......Quote:
Originally Posted by Dashing Bob S
Whilst, on the face of it, paying the football creditors first might look like an unfair preference, it's actually necessary to ensure the continuance of the football club, whether that's post-admin or post-liquidation. If they aren't paid, there will be no football club. That is why the football creditors are shown separately in the CVA proposal.Quote:
Originally Posted by Eyrie
It's a curious quirk of the football business, and one that took me a while to get my head around. I maintained for ages that D&P were wrong to pay (I think) Dundee United/Dunfermline for pre-admin debts out of administration funds, but it turns out I was wrong. The football debts are less a debt, more a running cost of the administration/liquidation.
What I'm not sure is if the SPFL themselves have the power to withhold those debts. In Sevco's case, I think it was the SFA, as the governing body, that took charge of the debts.
Surely if they just reach the split, they could drop out then, the only consequence being a missing game for each bottom 6 team?
Didn't Hearts have to lodge some sort of bond / where denied prize money because of their football debts? Can't think there's much in the pot to give them to keep their corpse staggering on if the money runs dry before the end of the season...
Not really. Somebody will come up with a calculation to say that "if we ignore all of Hearts results, we would've been in the Top6, instead of....." and then someone else will say "aye, but if you look at it this way...." etc etc.Quote:
Originally Posted by ScottB
The whole thing would be a mess. Better for the SPFL to advance them their cash and let the league play out.
There was no bond or forfeiture of money. The football debts are still unpaid.
Hearts have asked for an advance on the rest of their prize money already and have been told to beat it by the SPFL. All the clubs already get a payment at the start of the season. There is no precedent to quote because it's not legally binding and the circumstances are not really similar. Most of these rules are "at the discretion of the board".Quote:
Originally Posted by Eyrie
It's not just Hampden that would be a problem, although you don't want to anger the people who need to let you back into the league at some point.Quote:
Originally Posted by jacomoseven
Other clubs would lose income from cancelled matches and might need to refund fans for Season Ticket fixtures that didn't happen, depending on the terms of the agreement they have with fans.
Add to that, that the money from the SPFL from the start of the season would probably need to be paid back (football debt) and that's even more to be paid out when the club starts again.
Lastly. It makes BDO look very poor. To kill a club 8 weeks before the end of the season (and make a Newco that much harder because of debt and animosity) after 9 months of admin isn't going to get them much future business. The Rangers were always going to be liquidated, they just limped on to avoid exactly these pitfalls and it seems to have worked for them.
Gah! Took me so long to type all that I forgot I'd made the same points on all my other accounts.
http://www.baltic-course.com/eng/finances/?doc=89221
Looks like our Russian Prince is still trying to pull the strings from afar.
Go to it Vlad, take them to court, threaten a few admins. slow the whole process. :greengrin
That has the potential to be a major plot point in all of this. If Vlad is still getting involved and trying to control things that suggests there is a lot more too this. What is he trying to keep hidden? If the Lithuanian authorities are chasing this up it's very unlikely they will unfreeze the assets until they are satisfied no further wrongdoing will become of it and that will take a very long time.Quote:
Originally Posted by greenginger
If they liquidated then they are certs to be in one of the 4 leagues. It's wishful thinking that Spartans would get in before them. To many lower league clubs will see their gate money increase with 500-1000 Yams going to their gamesQuote:
Originally Posted by Dashing Bob S
I would agree and say it's almost certain that they'll be in League 2, following on from the Rangers precedent. But that's why the liquidation probably has to take place as soon as the seasons over, to give the Newco time to get organized and constituted in order to take their place. They are incompetent enough to mess this up and miss 2014-15 registration and a season, then have to go for 2015-16 in Lowland, of that I've no doubts.Quote:
Originally Posted by lucky
He's incredibly quick to respond to emails from his constituents at 1am to grovel, after said constituent has told him in no uncertain terms that he could not count on a vote. That was last year, so he must be doing an absolute power of work now in his day job if that's the barometer! :greengrinQuote:
Originally Posted by jacomoseven
Indeed. Relegation is a start but justice would be liquidation and the death of FC Shameless.Quote:
Originally Posted by lucky
I'd be too busy celebrating that - IF it happens - to worry about the next wish that they end up in some Lowland league....for Lowlife.
The demolition of the Savile Dome is also high on the agenda of course.
http://www.scotsman.com/sport/footba...ocke-1-3346446
UBIG meeting scheduled for 28th March according to this. Hadn't heard this before.
Been scheduled before and all been cancelled at short notice.Quote:
Originally Posted by Col2
I reckon if this one is cancelled then the game is up.
This is very strange:confused:Quote:
Originally Posted by Col2
1)if there is a meeting scheduled for 28th march,why no announcement from BDO/FOH??
2)why would such an important meeting be announced via a story regarding,a hearts managers fears and with an off the cuff remark hidden within said story.
3)why hasn't gasman announced the date of this meeting???
Very odd, even a surprise on 21pointsback. A huge meeting which could go a long way to determine future of the Yams... just 2 days before the Derby. Going to be an interesting week :greengrinQuote:
Originally Posted by Glesgahibby
Well the last flurry of activity /publicity was aimed at letting Hear7s fans know nothings was likely to happen till end of April ,so maybe Brian Jacksons visit wasnt as fruitless as we all thought and they are planning more publicity round lead up to derby to bolster morale and flog more tickets.Question is will it be a cynical marketing ploy or is it Brinkmanship so that they can announce before Derby that they will defo be coming out of Admins .Interesting week right enough .Maybe all the Yams have been issued with Memorandums of Understanding to keep Shooooooosh on this .Quote:
Originally Posted by Onion
Possible but would UBIGS administrators not have to publicly announce this meeting?Quote:
Originally Posted by Ronniekirk
could it be that the writer(unnamed)of this article is going by the "1st quarter of the year"quote from UBIGS admins a while ago?
Published 19th March, 14:37.Quote:
Originally Posted by Glesgahibby
Updated 20th March, 02:14.
The bit about the meeting has been added overnight I'd say.
GreenGinger will find it if it's out there :wink:Quote:
Originally Posted by Glesgahibby
Even if this meeting does go ahead, and CVA is agreed isn't it still scuppered by frozen shares?
Sent from my iphone
I read that article yesterday and it has definitely now been updated with the meeting information.Quote:
Originally Posted by Mikey
So where did they get this info from ?
Typical - right before derby, these faceless cheating ****bags will get good news. I pray that i'm wrong and these delays continue & the game is up.
This meeting wouldn't be about approving the CVA. UBIG abstained in that vote.Quote:
Originally Posted by kaimendhibs
At best, the creditors would approve the sale of the shares.
Meeting is mentioned here, but no specific date.
http://www.bbc.co.uk/sport/0/football/26180083
Isn't it the case that UBIG's "assets" can't be passed on because UKIO has security over them??Quote:
Originally Posted by Col2
This would represent the first time the Evening News/ Scotsman has broken a story on this issue which makes it unlikely.
As it's such big news for them, it's strange that it is not the main headline of the story.
No, they can't be sold because they are frozen by Kaunas district court.Quote:
Originally Posted by StevieC
Just in case it disappears........Quote:
Originally Posted by Mikey
Quote:
Originally Posted by EEN
I wouldn't get too excited about this, considering the source.
from the articleQuote:
Originally Posted by Platinum Scotty
When did this come about. I thought nothing had been arranged by UBIG yet.Quote:
However, the Tynecastle club are still dependent on events in Lithuania. As it stands, BDO, the club’s administrators, are waiting to conclude a Company Voluntary Arrangement whereby the Foundation of Hearts would purchase the near-80 per cent shareholding held by Lithuanian firms Ubig and Ukio. A Ubig creditors’ meeting is scheduled for 28 March in Lithuania but to BDO’s frustration, previous meetings have been cancelled at short notice as creditors prepare to vote on the transfer of shares to BDO
IGNORE THIS Col2 BEAT ME TO IT AND ANSWER PROVIDED
When were the shares unfrozen ?, they can have fifty meetings if they want but they can do nothing with the shares until a court decides this is ok.
A few points about this meeting, if its happening.
1. It's not about the CVA. UBIG abstained in that.
2. As it's the first meeting of creditors, it's likely to be about electing the creditors committee. ..as in UKIO.
3. At best, they would agree to the sale of the shares. That, IMO, is the easiest of the 3 critical elements of the deal.
Yes,I read the evening news version last night and no mention.Quote:
Originally Posted by Mikey
Sitback will take it as gospel without realising that if true,then BDO are deliberately holding back important information.My guess would be the writer of the article is using the"first quarter" quote.
Had a quick shifty myself this morning and "nada"Quote:
Originally Posted by Mikey
with so many creditors across Europe surely something,somewhere would appear in syber space.
as you say,greenginger will find it if it's there :aok:
Actually, I may be talking rubbish (again).Quote:
Originally Posted by Ozyhibby
Did the Evening News not break the story about the Ukio meeting? If so, then they could be right.
It also means the Ubig admin is operating a bit quicker the the Ukio admin as they were a good bit behind them in going into admin.
The EEN will drip feed them what they want to hear, I remember after ICT semi the EEN was full of positive spin. They need to keep them sweet.Quote:
Originally Posted by Craig_in_Prague
Quote:
Originally Posted by CropleyWasGod
#3 - Reassuring to say the least :aok:
I think you could be correct regarding the UKIO meeting but the UBIG meeting is a big story.Its the penultimate hurdle before the big one(20 footer):greengrinQuote:
Originally Posted by Ozyhibby
Yes, understand...Quote:
Originally Posted by LeithenHibby
but it is nearing the end game, one way or another - this has been one helluva soap opera !
just hope it ends with a death ;)
What are your thoughts on the Creditors committee? Do they have the power to dispose of assets?Quote:
Originally Posted by CropleyWasGod
If so, then we would be almost at the rubber stamp stage for Ukio, early next month for Ubig and only the fact that Ubig assets are frozen holding things up?
Could they have got ubig Nd ukio mixed and this is just another part of their meeting.
Quote:
Originally Posted by Craig_in_Prague
:agree:
The good thing about this Soap, is that we don't know how many episodes are left.......
This is entirely possible given how they go about news management but I think your average yam will continue to struggle with the "understanding" part of understanding, so I think a statement along the lines of allisstillbarrybutalsoverycomplex will be issued to keep the zombies at bay.Quote:
Originally Posted by Ronniekirk
It's the ante-penultimate, to be pedantic.Quote:
Originally Posted by Glesgahibby
Not that I'm Pedantic. I'm Sergey.
Something else hidden in the report is an explanation why Hearts crowds are remaining so high....
“I am aware that a lot of clubs are represented at most of Hearts’ games,” Locke said yesterday. :greengrin
If the process is similar to the UK, the creditors committee will meet, and then make a recommendation to the creditors in general. Since the CC for UKIO is largely made up of the Insurance chaps, and they also have control of the UKIO creditors' vote, that recommendation will be accepted.Quote:
Originally Posted by Ozyhibby
That might take two meetings, though, and the first hasn't yet been scheduled.:)
We've not even started on that process for UBIG. AFAIK, their creditors committee hasn't been elected yet.
This is so complicated, I just want them to be liquidated end of and soon. They best not get any good news prior to the derby. waiting a long time for this!Quote:
Originally Posted by CropleyWasGod
If, as has been stated many times, UBIG and UKIO agree the shares can be passed on to FoH that this is actually irrelevant (or at the very least a very small cog in the wheel) as it is the Lithuanian Govenment (who have frozen the assets) who are in control and hold all the aces. If, as they suspect, Vlad and his cohorts have been very very naughty boys then those shares are not going to hit the defrost button on the microwave any time soon as I would imagine that this particular investigation will take an age to progress.
Anywho FTH :agree:
IndeedIndeed:agree:Quote:
Originally Posted by CropleyWasGod
Weren't you Sergey yesterday? I'm sure it was my turn today:greengrin
#AllIsBarry has spoken.
@BarryAnderson_: UBIG creditors' meeting due Friday, 28 March. Vote expected on release of #Hearts shares - crucial for #HMFC to exit admin. See EN today.
So it will all come down to whether the shares are frozen?Quote:
Originally Posted by Pray4Marc
Exciting stuff.
:-)
Banderson has never been wrong before, so I'm happy to take this as FACT. :wink:Quote:
Originally Posted by Pray4Marc
The man could be classed as a compulsive liar. I am more intrigued to see him back track when it all goes wrong.Quote:
Originally Posted by jacomoseven
I wonder if these guys are checking to see if any bribes have been placed to get this meeting rushed forward? :greengrin
http://www.stt.lt/en/
I think he will be right this time.Quote:
Originally Posted by jacomoseven
Quote:
Originally Posted by Ozyhibby
Barry Anderson @BarryAnderson_ 3m
UBIG creditors' meeting due Friday, 28 March. Vote expected on release of #Hearts shares - crucial for #HMFC to exit admin. See EN today.
He may be correct about the meeting but how sure is he about the bit in bold ???
We'll find out soon enough. I'm sure his imminent EEN story will be fully sourced, with relevant quotes from the key people involved.Quote:
Originally Posted by Hot Shot Hamish
Can't wait!
Moral is low in jamboland. Their all shaking like ****ting dogs with the imminent relegation derby looming
This wee snippet by baza-hasny-gottaclue gives the kerb crawlers a much needed shot of arrogance to see them through another painful month
Does not sound as if Lockie is to sure about the outcome
http://www.edinburghnews.scotsman.co...week-1-3347355
So is there an agenda and associated bumph for this meeting on-line?
OK, so the only quote is from Locke. Who is probably not the most authoritative source.Quote:
Originally Posted by greenpaper55
And again, why is £50k described as a "token" payment? Why are the shares described as "worthless"? Why no mention of the fact that the courts have frozen the shares? No need for a reply on any of these of course...
"Should creditors agree to a share transfer and have it legally ratified..." Seems to be the first admission by EEN that there are two stages to this process, one which is in the hands of the Lithuanian courts.
Assuming Hearts get on the agenda (perhaps doubtful) and then get this transfer agreed (probably straightforward) they will go into the derby in a buoyant mood.
In the bigger picture though, they still need the shares to complete the CVA and the status of the shares is..
Maybe, one day, they will get to the point where they admit that there are 3 stages. :rolleyes:Quote:
Originally Posted by Dashing Bob S
Sceptical about this date. Apparently this is the first anyone at Tynecastle has heard about it.
Hilarious that yesterday the Scotsman/EEN were the **** of the earth for saying horrible things that were untrue and today they are truth bearers because the news is positive?
Oh Barry...Quote:
Originally Posted by Bajillions
Having read Bazza's 2 stories in today's EEN, he's stated that if the UBIG vote happens and goes HMFC's way they can exit admin.
Putting the frozen shares problem to one side, like most jambos, are they not still waiting on CVA approval from another UKIO creditors meeting? One that's not been scheduled yet?
Yes.Quote:
Originally Posted by 7062
I'm like a broken record on this, but there are 3 things that need to happen. :greengrin
Repeat after me:-
1. UKIO's creditors to formally approve the CVA
2. UBIG'S creditors to approve the transfer of the shares.
3. the Lithuanian Courts to approve the above, including the reversal of the freezing of UBIG's shares in Hearts.
Speculation at best.Quote:
Originally Posted by Hot Shot Hamish
How many times do you reckon you have told them CWGQuote:
Originally Posted by CropleyWasGod