:wink:Quote:
Originally Posted by Deansy
It does in this case - assuming they survive.Quote:
Originally Posted by SmashinGlass
Printable View
:wink:Quote:
Originally Posted by Deansy
It does in this case - assuming they survive.Quote:
Originally Posted by SmashinGlass
Quote:
Originally Posted by clerriehibs
There's also the other side of the argument that too many people claiming to have 'inside info' makes it more difficult to know who to believe, although some are quite obvious wind-up merchants (especially if their user name is 'KB something').
There have been a couple of real wallopers in this regard in the last few days that have left me in no doubt but, in their cases, I feel more pity than anything.
I'm a fan of WSW's multi quotes too. It's nice to have a succinct summary/comment/put down of posts, especially ones you know are invariably going to be rambling or nonsense.Quote:
Originally Posted by StevieC
It's become a signature and has a certain charm.
I appreciate that thank you DBS.Quote:
Originally Posted by Dashing Bob S
The great thing about this Hearts case is it seems to follow a pattern:
1. No real news
2. A glimmer of positive hope
3. Ludicrous spin by FOH/media
4. Massive vainglorious trumpeting from Kickback
5. Note of caution from BDO
6. Devastatingly bad news/further delays from Lithland
(Repeat till liquidation)
Romanov's future to be decided on Thursday:
http://www.lithuaniatribune.com/6652...day-201466524/
Given Romanov owned 65% of Ukio I would be surprised if they were not frozen as they related to "bad" loans to UBIG and Hearts. Will try and find out.Quote:
Originally Posted by CropleyWasGod
Quote:
Originally Posted by desantos0773
Don't forget the endless appeals, serious heart condition, and the rest.
Romanov won't be back in Lithland this side of Christmas unless he's been funding the wrong politicians or been caught selling Pussy Riot CD's out the back of his taxi. :greengrin
Double http://www.hibs.net/images/smilies/thumbs%20up.gifI wonder how Ian - I was an M.P - Murray will spin this.Quote:
Originally Posted by Golden Fleece
If I may be permitted, I would think that is a racing certaintyQuote:
Originally Posted by desantos0773
You can take that to the Bank just not UKIO
Also a link further down re the frozen assetsQuote:
Originally Posted by desantos0773
http://www.lithuaniatribune.com/3427...ets-201334278/
Heh haw!
Wow !!! Does this mean NO SALEQuote:
Originally Posted by BurghHibby
http://img.tapatalk.com/d/14/04/09/y4aqe4ur.jpg
Hi CWG Thanks for reply but as Burgh Hibby as posted I think The Scotsman lifted it from the Lithuania Tribune link and omitted the bit below which perhaps im reading it wrong but doesnt that imply UBIG investment is frozen as well .Quote:
Originally Posted by CropleyWasGod
The court in Kaunas seized assets controlled by Russian-born businessman Vladimir Romanov and his UBIG investment vehicle, which controls ‘Hearts’.
In a statement, the court said it had forbidden any transfer of the assets, after receiving a claim in a civil lawsuit brought by several companies.
He seems to have an ever increasing list of health complaints A stroke last year and now hospitalised with serious heart problems. Would appear that his time is coming, one way or another.... :rolleyes:Quote:
Originally Posted by desantos0773
Remember and check the article date, dunno how much has changed in the last year though...Quote:
Originally Posted by BurghHibby
That's harsh, because he seemed to be back to full health.Quote:
Originally Posted by SmashinGlass
Didn't that journo who bumped into him in a restaurant find him in good spirits, talking about how he was enjoying life in Moscow and making good money? And little did he know another health scare was just around the corner...
I did but just assumed as the Lithuanians were still trying to get Romanov in a court nothing had changed .Quote:
Originally Posted by EdinMike
Reading that article leaves me less convinced the frozen shares are a problem.
I was under the impression they were frozen by the Lith Financial crimes people. If, as that article states, they were frozen at the request of creditors then it will be the same creditors that just approved the share transfer. If they are happy then I imagine the court will be too.
We will have to wait and see.
Even if they get to keep Tynecrumble, they're still a wee league team with humungous problems.
I was introduced to a man this morning who runs a small " service " business .( four employees )
He was owed a four figure sum of money for repairs carried out at Tynecastle and lost out , receiving siltch
He was lucky (his words) that he managed to keep things going without paying off staff but feels very very bitter reading the quotes from Hearts supporters of how Hearts will be " debt free and go on to be a massive club again "
Can sympathise with him ( he is not a football man as he played rugby and follows his old club ) and wonder how many more small businesses were landed in the same position ?
:rolleyes:
Think you might be getting your Aprils mixed up. The Scotsman article was today, the Tribune 2013.Quote:
Originally Posted by steviehibsleith
He should introduce himself to our sports media imbeciles who keep referring to the Yam fans as the victims in Heart's financial shambles instead of the accomplices .Quote:
Originally Posted by jdships
Yes they normally catch up after six months!Quote:
Originally Posted by CropleyWasGod
Hearts are the archetypal overweight school bully, callous and full of unwarranted self-regard, so quick to turn into a sniveling, self-pitying cowardly victim when held to account for their actions. It's about time our pathetic media started holding this easily-bruised fat boy culpable, rather than indulging him by spilling fake tears and cheerleading his misery.Quote:
Originally Posted by greenginger
Seeing as they profess to hate green so much, they should be made to rip up that big green thingy in the middle of their stadium. Ideally replaced with a car park. For flats.Quote:
Originally Posted by Dashing Bob S
Can we stick to topic lads,don't care if its a multi quote or not if it annoys you then don't read it,
Any news of the padlocks comming out yet at ***********
We need a banner for the next derby
I'll help pay but can anyone make one?
I'd like it to say :
Hearts Fans:
Not victims,
Accomplices
Think they are still in shock. The histrionics and bull**** and wild conjecture reported as news will probably start up again tomorrow or Friday morning. Meantime that ol' clock keeps on a-tickin.Quote:
Originally Posted by gorgie greens
Of course if Lithuanian journalism is as technically accurate as our MSM then we can disregard that stuff as well...
If we can gain access he should rip up all the work done and take his materials back. Construction materials belong to the contractor until the invoice is paid in full, as stated on my invoice. I have done this in the past with, on one occasion, the help of the police who made sure no violence was shown to our men.Quote:
Originally Posted by jdships
Quote:
Originally Posted by southsider
I think he is too late. The Yams have settled all accounts with the CVA vote fiddled by BDO.
I hope he is happy with the settlement of Zero pence in the pound.
Quote:
Originally Posted by Paisley Hibby
You obviously missed last week's TPI love-in:wink:
The original Bloomberg article had a direct quote, which is often missing in our own media.Quote:
Originally Posted by ano hibby
“Any sale or transfer” of UBIG’s shares in Hearts or its other property “is forbidden,” Gintare Putnikiene, a spokeswoman for the court in Kaunas said by phone today.
It might just be that the Lithuanian press have their financial journalists on the story whereas the MSM have their sports reporters doing the job.Quote:
Originally Posted by ano hibby
Big difference in perception, experience and, more than likely, basic intelligence.
It wouldn't surprise me if they had the gall to give -10p in the pound, meaning the creditors would be due to pay them, just for the pleasure of not being paid.Quote:
Originally Posted by greenginger
Or -15Quote:
Originally Posted by Kato
this is exactly the stories the media should be covering!!!Quote:
Originally Posted by jdships
Yams have been advanced a total of £823,895.33 from SPFL this season. If they don't complete their fixtures they have to pay it all back! Given we know they already have £690,000 of the final payment that leaves a balance provided earlier of £135k, not far off your £150k figure above. I believe the football debt of £535k is a totally separate matter, that is due to be paid by F of H (or its nominee).Quote:
Originally Posted by HFCDaveA
I'm not sure what happens if Yams hit the big L. From memory I think newco settled the football debt for Rangers & I think this would happen with anyone registering new Yams ( or Shams! ) Can anyone with a better memory re The Rangers saga please advise?
Quote:
Originally Posted by jakeshibs
We should go around the streets and offer a few of the Jakeys a few quid to swop their " Hungry and Homeless " signs for a " I am a Hearts Creditor " sign.
I bet the EEN would never run the story.
TRFC's fitba debt had to be settled as a condition of their new owners' application to join the SFL/SFA. It was central to the 5-way agreement.Quote:
Originally Posted by brog
I'm in two minds about how HMFC's football debt will be settled, too. While it makes sense to deduct it from the SPFL money, I'm leaning towards your own thoughts. It's debt that is due to bodies other than the SPFL, and I'm not sure the SPFL have the power to be a collection agent for them.
That would make sense, but the SPFL could make sure the debt is paid as a condition of starting up again as The Hearts 2014.Quote:
Originally Posted by CropleyWasGod
Quote:
Originally Posted by brog
Yep, anyone wanting to start a NewYam would need to acquire the SFA and league license and part of that agreement will be settle the old Yam debts.
That's what took it to the wire with The Rangers last summer, but they agreed at the last minute.
Think that would be another 5-way agreement -type thing. The SFA would probably make the stipulation.Quote:
Originally Posted by Mikey
Quote:
Originally Posted by CropleyWasGod
Thanks, that makes sense. It's a logical extension of the authority the SPFL has to ensure football debt is repaid ( despite HMRC protests! ) I think you're also correct re collecting the debt, IIRC there were well over 100 individual football creditors, I don't see SPFL getting involved there.Quote:
Originally Posted by CropleyWasGod
He certainly is not the only one that mob have conned. Those cheating, immoral, thieving *******s don't care how many small businesses, charities etc they have mugged off and stolen from, it let them play "we are the big team".Quote:
Originally Posted by jdships
Horrible lot. Their smug, arrogant fans turn my stomach.
that sounds like the sort of stuff Mark Thomas would get involved with. Email him.Quote:
Originally Posted by greenginger
Samething happened with the Gers.Quote:
Originally Posted by Kato
On UKIO I started sending Bloomberg articles to the Scottish press in the early autumn of 2012 pointing out the implications for Hearts. They were totally ignored.
Quote:
Originally Posted by desantos0773
Also on my Twitter account at the time #LeftBanker
When this all kicked off there very quickly appeared a thread on kickback saying that they should all contribute to a pot that would be used to pay back small creditors.Quote:
Originally Posted by NumberSeven
The thread recieved great attention and all were in agreement that this was exactly the type of action that distinguished them from Rangers fans.
Wonder how that's comming along?
It's a catch 22. Should the SPFL, one of Scottish Footballs governing bodies, issue an advance payment of monies that hertz would not be due should they fail to complete the season by entering liquidation? Or should they withhold that money and cause hertz to enter liquidation at which point they fail to be entitled to said money?Quote:
Originally Posted by CropleyWasGod
Anybody.... Help..... my head hurts.
While I understand the common disgust with the stiffing all and sundry, large and small businesses and organisations for hundreds upto millions that's what happens all too often.Quote:
Originally Posted by NumberSeven
A friend of mine was a professional commercial photographer, and a damned good one too, flying all over the world, reckoned he lost on average £20k a year folk doing the same as the yams.
Its the system that's wrong ... IMO.
:agree: for those who have a life outside of here - sometimes you are playing catch up and have replies / contributions to several posts....Quote:
Originally Posted by StevieC
Why is it annoying / an issue ?
I'm sure that I read somewhere today that ALL of the SPFL teams have received £690K this season so far. Therefore, there is no way that the SPFL have retained the football debt.Quote:
Originally Posted by Geo_1875
Like others have said, this debt will be paid by whoever picks up the Yams when they come out of admin.
So how does this affect the CVA ,if they are unable to get the shares is that not the end of the road for themQuote:
Originally Posted by CropleyWasGod
Finally. :hilariousQuote:
Originally Posted by #FromTheCapital
So what would the process be if the Ukio administrator accepts the CVA? Would it then be up to BDO to apply to the Lithuanian courts to 'unfreeze' the shares?Quote:
Originally Posted by CropleyWasGod
Quote:
Originally Posted by CB_NO3
I think it would be up to the UBIG administrator to petition the Court saying that the UBIG creditors have accepted a sum for these shares , please release them and let us conclude the deal.
How easy that would be is anybody's guess.
Of course they would only want the shares if Ukio approve their bit of the deal.
As GG says.Quote:
Originally Posted by CB_NO3
But remember that it's not the administrator's call. It's up to the creditors.
I think even the Yams have talked about the share transfer needing to be "ratified" by the courts. Quite how they see that as any different from "unfrozen" I am not sure. Definitions seem to have a lot of leeway among different people and I myself used to think "ratification" was a term referring to the filling of Tynecastle on match days.Quote:
Originally Posted by CB_NO3
Yes.Quote:
Originally Posted by gorgie greens
BJ has always said that the hardest part of his job will be to get the UBIG shares. Nobody in HM Press has asked him "why, Bryan? Why is that?"
I've just emailedtoGintare Putnikieneto ask if the shares are still frozen (in the court's view) and to show them the news of Pat Munro's £15m bid.
Interesting that the Evening News have withdrawn the hyperlink about that story.
However, I had a paper copy so a wee pic was all it took to let Lithuania know about Pat's millions, compared to the ramshackle amateur FoH 2.5m
No brainer
Indeed. Sometimes you are playing catch up. But every single time? That's too much.Quote:
Originally Posted by down-the-slope
Bit like Sydney with his f***** letters... We were all happy to laugh along with the simpleton for a while, but it becomes boring.
Amazing what former Yam directors get up to.
http://translate.googleusercontent.c...yrr6LRxSnSVM4Q
Fedatovas has been working for the Lith. government. :confused:
It just hasn't come up? :wink:Quote:
Originally Posted by CropleyWasGod
Something to moan about, other than at the team??:cbQuote:
Originally Posted by down-the-slope
:bitchy:Quote:
Originally Posted by jacomoseven
:top marks that was quallity :flag::flag::flag:Quote:
Originally Posted by Brunswickbill
they even tried to sign Attachment 12403 few weeks agoQuote:
Originally Posted by Ronniekirk
:greengrinQuote:
Originally Posted by GreenLake
it is true thou he does have a major hearts problem :greengrinQuote:
Originally Posted by SmashinGlass
Just stop :rolleyes:Quote:
Originally Posted by Weststandwanab
:top marks:greengrinQuote:
Originally Posted by EastCalderHibby
I don't believe its the incompetence of the mainstream media, though that has some effect, or even the low staffing levels. Print and television news media increasingly rely on sensation, which means infantilising people and drip-feeding them nonsense rather than any hard analysis of the situation. Sadly no newspaper will say: 'Hearts are liquidated, UKIOS will be stalled until the run out of cash, as the creditors know they will get more back from an asset sale, and even if this wasn't the case they could never obtain the UBIG shares from Kanuas court' as the story would be effectively over for them. They know the sentimentality of football fans, so far easier to manufacture this utter nonsense about a plucky Scottish club battling for survival against all odds.Quote:
Originally Posted by CropleyWasGod
Jackson and BDO are obliged to go through the process as professionally as they can, but I'm betting if you had a quiet drink with him a few years from now he'd tell you that to be successful they would have needed a massive game-changer, like the court action being suddenly dropped, or the main creditors not investigating the potential value of the PSB as an asset, or the Lithuanian admins putting the importance of Hearts above all other parts of the Romanov empire. Nothing like that has happened so far. BDO have dutifully stayed in the game (and they are being well paid to do so) but they've never had a winning hand.
Time for a large gin for your Jambo neighbour to cheer himself up, Bob.Quote:
Originally Posted by Dashing Bob S
The above is 100% spot-on.
BTW - No creditors meeting agreed for the Ukio folks. The date previously quoted (by Desantosh) isn't correct.
I wish I could agree with you about the media. It's affecting my previously-held trust in the media in general.Quote:
Originally Posted by Dashing Bob S
I do agree with you on the job BDO have done thus far. I know that there are misgivings on here about their integrity, but I keep thinking about BJ and TB saying how bad things were when they first took the job on. I honestly didn't think they would get this far (my earliest posts expected this to be a short admin followed by liquidation). That they have says a lot about their own actions, but also the (arguably) poor performance of their counterparts. That quiet drink would be very illuminating, I'm sure.
In Sergey We Trust :thumbsup:Quote:
Originally Posted by Sergey
Tip for those pished off with the pointless multiquotes followed by "I agree", "yes", etc. Add the guy to your ignore list.
Nice words at this time f night Sergey, I can now sleep with a pleasing calm in the knowledge that there is virtually no chance the can wriggle out o this.Quote:
Originally Posted by Sergey
Quote:
Originally Posted by Ronniekirk
I am scratching around for information - but no information is good information.Quote:
Originally Posted by hibeerealist
As far as I know - there is no meeting planned on the 22nd April.
I have no knowledge where that date emanated from. It's not from Lithuania.
Quote:
Originally Posted by CropleyWasGod
Their counterparts being the administrators of UBIG and UKIO - or someone else?
And the budge beak must be back on her perch in her cage as not a peep for ages since she threatened to walk away if deal wasn't done .We all knew she wouldn't but trying to put Liths under pressure like that could be a red rag to a bull .having showed her hand and had her bluff called what realistically is her next move and why isn't she now e mailing that magnificent loyal mutant support to update them and tell them all is well,just bear with me till we work out best timing to tell you it's the Big L and Sergey was right all along .Quote:
Originally Posted by Sergey
What happens when you do as you suggest ?Quote:
Originally Posted by Cabbage East
I agree.Quote:
Originally Posted by Ronniekirk
Yes.Quote:
Originally Posted by Sergey
Lithuanian Government- Lithuanian People -Lithuanian Courts........inextricably linked. I have thought about this for a long time now, and those facts are the reasons that this saga has a long long way to go,when it comes to releasing any assets/shares involving both insolvent banking corporations. bad news for gorgie,and they wont accept it until the big L is confirmed. they may struggle into next season but not for long
If I know most Hearts fans, when the big L finally comes, and they realise they've been played for suckers, they'll have a bloody good laugh along with the rest of us! Sometimes, when a custard pie gets launched in your face, you have to just grin and give it the big thumbs up!
I'm sure they'll see the funny side!
AyeQuote:
Originally Posted by Weststandwanab
Vlad Released
According to Daily Record:
http://www.dailyrecord.co.uk/sport/f...rounds-3391131
Friends in dodgy places?
****. Just realised its 'Foundation of Hearts' I set my direct debit up for the 'British Heart Foundation' sorry, wrong charity case.
Yeah sorryQuote:
Originally Posted by clerriehibs
Quality. Hope you dont mind but I'm stealing that.Quote:
Originally Posted by GordonHFC
I'm amazed they found 1 quote condemning him in amongst all the 1s praising himQuote:
Originally Posted by PapillonVert
Sent from my iPhone using Tapatalk
Sorry, this will question will obviously have been asked and answered somewhere in this massive thread but if Hearts go into liquidation, who is responsible for payment of BDOs fees?
I assumed it was Hearts and BDO take their fees from the money taken in through the season.could be wrong.So in effect They pay it to themselves. So yamlike.Quote:
Originally Posted by Coco Bryce
Quote:
Originally Posted by Waxy
If it comes to liquidation BDO step aside and a liquidator is appointed ( Duff and Phelps would be ideal :wink: )
The liquidator would pay BDO from the proceeds of the liquidation. I think they would rank next in line after the liquidator reimbursed themselves :cb.
I believe CWG is the go to man for this question.Quote:
Originally Posted by Coco Bryce
Without digging, I'm pretty sure that BDO themselves have been nominated as liquidator.Quote:
Originally Posted by greenginger
One of these days, I shan't bite.Quote:
Originally Posted by HUTCHYHIBBY
For now, Fenlon.... :greengrin
It feels like they're so close, yet so far from concluding this CVA.
Definitely the best soap around.
One or two other articles outwith scotland, has also said no apparent date on the UKIO next creditors meeting. You have to think that if there's any more delays and that's pushed into May, the big L must be likely.
If it were any other club in the world, I'd fancy the big L. But as it's the luckiest, part of me thinks they'll scrape through this & forever slag hibs.net for being sad hobos (despite it being the home of the truth all along). Will they realize how close they were to their club going down the swanny? probably not.
Everything does seem to have gone eerily quiet.
No tweets, claims, trumpets or seethings for a while. Mass celebrations or mass suicides down Gorgie way ??????
And I got shot down when I asked if that date was fact or speculation :greengrinQuote:
Originally Posted by Sergey
Just the sound of ... tick, tock.Quote:
Originally Posted by greenginger
They will be delaying any negative announcement as they won't want to give hibs.net any credit for being right. They'll probably call liquidation a tactical restructuring.Quote:
Originally Posted by greenginger