Share Transfers Agreed/Cooling off period

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03-08-2013, 06:46 PM
BH Hibs

Quote:

Originally Posted by Sergey

The current Lithuanian government recently came to power campaigning about cleaning up their banking sector, highlighting the previous governments shambolic handling of the collapse of Bankas Snoras, a case which still rumbles on after some 2 or so years. This was an important factor in their campaign prior to the elections, which they obviously won.

There is little chance that the current incumbents are going to back-pedal and let Ukio/UBIG/Yams off lightly. They're under the microscope to do what's right for the people of Lithuania, not some two-bob, bigoted, football club.

Sergey in your opinion does this arrest warrant make any difference to the assets being unfrozen?
03-08-2013, 06:59 PM
sidneyhibbie

Quote:

Originally Posted by Sergey

The current Lithuanian government recently came to power campaigning about cleaning up their banking sector, highlighting the previous governments shambolic handling of the collapse of Bankas Snoras, a case which still rumbles on after some 2 or so years. This was an important factor in their campaign prior to the elections, which they obviously won.

There is little chance that the current incumbents are going to back-pedal and let Ukio/UBIG/Yams off lightly. They're under the microscope to do what's right for the people of Lithuania, not some two-bob, bigoted, football club.

This is good news my campaign for justice will continue and news like this fuels my goal which is the downfall of the currupt yam empire built on lies fraud and injustice however i am on holiday shortly going to seaton sands caravan park so to all my followers and the guys who have pm me with support thanks guys fear not i will carry on the fight after my well earned break

:hnet:Sidney:not worth
03-08-2013, 07:03 PM
Sergey

Quote:

Originally Posted by BH Hibs

Sergey in your opinion does this arrest warrant make any difference to the assets being unfrozen?

In my opinion (that's the disclaimer) this arrest warrant wasn't issued yesterday - it's been in place for the last 5 or 6 weeks. Cohorts of Vlad have already been pulled by the authorities, in particular, Ugianskis, former board chairman of Ukio who is in it up to his neck. The authorities are loathed to comment on their investigations, but I have it on good authority that those involved in the embezzlement are being brought to book, passports removed and placed under house arrest until formal charges are brought.

With the Lithuanian Financial Crimes Investigation Unit officially placing UBIG & Ukio under investigation (they are the equivalent of our SFO) I'd be extremely surprised if assets were unfrozen any time soon, if indeed at all. As I understand it, all cash is also frozen. I don't expect this to change in the foreseeable, and BDO's comments that administration could drag on until 2014 sort of cements this - they must have been advised of this situation, too. They have an office in Kaunas that must be in the loop and they are the chosen appointee of Ukio's admin. As I mentioned in a previous post, this is a political issue and bears sod-all to football.

There will be no 'quick-fix', I'm certain of that, and I don't think there will be a fix at all.
03-08-2013, 07:14 PM
FranckSuzy

Quote:

Originally Posted by sidneyhibbie

This is good news my campaign for justice will continue and news like this fuels my goal which is the downfall of the currupt yam empire built on lies fraud and injustice however i am on holiday shortly going to seaton sands caravan park so to all my followers and the guys who have pm me with support thanks guys fear not i will carry on the fight after my well earned break

:hnet:Sidney:not worth

Have they not got pens and writing paper there? :grr:
03-08-2013, 07:14 PM
clerriehibs

Quote:

Originally Posted by Sergey

In my opinion (that's the disclaimer) this arrest warrant wasn't issued yesterday - it's been in place for the last 5 or 6 weeks. Cohorts of Vlad have already been pulled by the authorities, in particular, Ugianskis, former board chairman of Ukio who is in it up to his neck. The authorities are loathed to comment on their investigations, but I have it on good authority that those involved in the embezzlement are being brought to book, passports removed and placed under house arrest until formal charges are brought.

With the Lithuanian Financial Crimes Investigation Unit officially placing UBIG & Ukio under investigation (they are the equivalent of our SFO) I'd be extremely surprised if assets were unfrozen any time soon, if indeed at all. As I understand it, all cash is also frozen. I don't expect this to change in the foreseeable, and BDO's comments that administration could drag on until 2014 sort of cements this - they must have been advised of this situation, too. They have an office in Kaunas that must be in the loop and they are the chosen appointee of Ukio's admin. As I mentioned in a previous post, this is a political issue and bears sod-all to football.

There will be no 'quick-fix', I'm certain of that, and I don't think there will be a fix at all.

Given this has now started in Lithuania - at some point, a corresponding UK investigation will have to be commenced on what was going on at homfc?
03-08-2013, 07:22 PM
sidneyhibbie

Quote:

Originally Posted by clerriehibs

Given this has now started in Lithuania - at some point, a corresponding UK investigation will have to be commenced on what was going on at homfc?

Letter to SFO Will be posted tomorrow

Sidney :hnet:
:not worth
03-08-2013, 07:32 PM
Bostonhibby

Quote:

Originally Posted by sidneyhibbie

This is good news my campaign for justice will continue and news like this fuels my goal which is the downfall of the currupt yam empire built on lies fraud and injustice however i am on holiday shortly going to seaton sands caravan park so to all my followers and the guys who have pm me with support thanks guys fear not i will carry on the fight after my well earned break

Happy holidays Sid, stay out the sea down there, but if you do go in watch out for the submariner,an anti Yam like yourself must be in his sights, and if he's not there stay away from the very small submarine shaped yam strip coloured ones that proliferate there. They are not cigars!.
03-08-2013, 07:32 PM
Jack Hackett

1 Attachment(s)

Quote:

Originally Posted by Sergey

In my opinion (that's the disclaimer) this arrest warrant wasn't issued yesterday - it's been in place for the last 5 or 6 weeks. Cohorts of Vlad have already been pulled by the authorities, in particular, Ugianskis, former board chairman of Ukio who is in it up to his neck. The authorities are loathed to comment on their investigations, but I have it on good authority that those involved in the embezzlement are being brought to book, passports removed and placed under house arrest until formal charges are brought.

With the Lithuanian Financial Crimes Investigation Unit officially placing UBIG & Ukio under investigation (they are the equivalent of our SFO) I'd be extremely surprised if assets were unfrozen any time soon, if indeed at all. As I understand it, all cash is also frozen. I don't expect this to change in the foreseeable, and BDO's comments that administration could drag on until 2014 sort of cements this - they must have been advised of this situation, too. They have an office in Kaunas that must be in the loop and they are the chosen appointee of Ukio's admin. As I mentioned in a previous post, this is a political issue and bears sod-all to football.

There will be no 'quick-fix', I'm certain of that, and I don't think there will be a fix at all.

Attachment 10785
03-08-2013, 07:45 PM
Cabbage East

Although it was always obvious Sidney was a Yam, it was entertaining up til now. Bye Sidney.
03-08-2013, 07:53 PM
joe breezy

If the shares are frozen does that mean they can't be liquidated or am I taking the states of water analogy too seriously?
03-08-2013, 07:57 PM
Mr White

Quote:

Originally Posted by Cabbage East

Although it was always obvious Sidney was a Yam, it was entertaining up til now. Bye Sidney.

Shows how worried he is about his club if he's been on here acting the clown the last few weeks while hearts are on their knees. Strange mentality altogether, maybe he's actually Barry Anderson.
03-08-2013, 08:01 PM
joe breezy

Quote:

Originally Posted by South Sub

Shows how worried he is about his club if he's been on here acting the clown the last few weeks while hearts are on their knees. Strange mentality altogether, maybe he's actually Barry Anderson.

Delusional in many ways even to the point of assuming alter egos

Walter Mitty's no got a look in
03-08-2013, 08:03 PM
Hibercelona

Quote:

Originally Posted by Dashing Bob S

Cruel Sergey. You're forgetting about the groundswell of popular support and love the Lithuanians have for this great club, which has its genesis in WW1 & WW2, cemented this millennium by the Lithuanian world cup stars who have graced Hearts CL winning teams.

They won't see this global institution brought to it's knees for the sake of a few million quid here or there on the balance sheet, which in any case would only have been frittered away on schools and hospitals etc. In fact, I'm betting that their parliament is actively considering a levy to help Hearts get out of their financial difficulties. The 'Yamtax' would be a popular measure and sure-fire vote winner over there, as it would be here.

We've already been paying yamtax here. The council give them money and we pick up the bill.
03-08-2013, 08:06 PM
OrdHibby

Quote:

Originally Posted by South Sub

Shows how worried he is about his club if he's been on here acting the clown the last few weeks while hearts are on their knees. Strange mentality altogether, maybe he's actually Barry Anderson.

Now that is a clown. :aok:
03-08-2013, 08:16 PM
Sanger

Quote:

Originally Posted by Sergey

In my opinion (that's the disclaimer) this arrest warrant wasn't issued yesterday - it's been in place for the last 5 or 6 weeks. Cohorts of Vlad have already been pulled by the authorities, in particular, Ugianskis, former board chairman of Ukio who is in it up to his neck. The authorities are loathed to comment on their investigations, but I have it on good authority that those involved in the embezzlement are being brought to book, passports removed and placed under house arrest until formal charges are brought.

With the Lithuanian Financial Crimes Investigation Unit officially placing UBIG & Ukio under investigation (they are the equivalent of our SFO) I'd be extremely surprised if assets were unfrozen any time soon, if indeed at all. As I understand it, all cash is also frozen. I don't expect this to change in the foreseeable, and BDO's comments that administration could drag on until 2014 sort of cements this - they must have been advised of this situation, too. They have an office in Kaunas that must be in the loop and they are the chosen appointee of Ukio's admin. As I mentioned in a previous post, this is a political issue and bears sod-all to football.

There will be no 'quick-fix', I'm certain of that, and I don't think there will be a fix at all.

i still believe given that Lith state are controlling the admin process on Ukio and UBIG and could decide liquidation is the cheaper option than ruining club till Feb 2014 given there are no bids approaching their estimation of Tynie's land value. They sell up and put the proceeds in trust until the fraud investigations/"trials are concluded. The freeze on assets is to stop the mad one runing off with them or their proceeds from a sale. He can't do that with Tynie which is essentially now under Lith state ownership and controlled.
03-08-2013, 08:45 PM
SmashinGlass

Quote:

Originally Posted by desantos0773

i still believe given that Lith state are controlling the admin process on Ukio and UBIG and could decide liquidation is the cheaper option than ruining club till Feb 2014 given there are no bids approaching their estimation of Tynie's land value. They sell up and put the proceeds in trust until the fraud investigations/"trials are concluded. The freeze on assets is stop the mad one runing off with them or their proceeds from a sale. He can't do that with Tynie which is essentially now under Lith state ownership and controlled.

He could never have done that regardless. The minute BDO were appointed, no assets could be transferred without their authorisation. Regardless, even if asset swindling could have taken place prior to admin, BDO have powers to reduce such transfers. Insolvency legislation is pretty watertight with stuff like this.
03-08-2013, 08:53 PM
HUTCHYHIBBY

Quote:

Originally Posted by sidneyhibbie

This is good news my campaign for justice will continue and news like this fuels my goal which is the downfall of the currupt yam empire built on lies fraud and injustice however i am on holiday shortly going to seaton sands caravan park so to all my followers and the guys who have pm me with support thanks guys fear not i will carry on the fight after my well earned break

:hnet:Sidney:not worth

What a berserker!
03-08-2013, 08:59 PM
whiskyhibby

Quote:

Originally Posted by Hibercelona

We've already been paying yamtax here. The council give them money and we pick up the bill.

Maybe those that live in Edinburgh and pay council tax there should be asking their local councillor what steps they are taking to recover this debt
03-08-2013, 09:07 PM
SmashinGlass

Quote:

Originally Posted by whiskyhibby

Maybe those that live in Edinburgh and pay council tax there should be asking their local councillor what steps they are taking to recover this debt

Unfortunately, due to the administration, there are no steps which can be taken to recover the debt.
03-08-2013, 09:09 PM
malcolm

Quote:

Originally Posted by desantos0773

i still believe given that Lith state are controlling the admin process on Ukio and UBIG and could decide liquidation is the cheaper option than ruining club till Feb 2014 given there are no bids approaching their estimation of Tynie's land value. They sell up and put the proceeds in trust until the fraud investigations/"trials are concluded. The freeze on assets is stop the mad one runing off with them or their proceeds from a sale. He can't do that with Tynie which is essentially now under Lith state ownership and controlled.

Is there a concept of trust in lithuania? Trust (or was it the lack of it) arose from the crusades (along with I understand chastity belts :wink:) - the knights heading off to the middle east wanted to make sure their property was safe and could not be seized so left it in the control of others to look after (probably not the key). So it has its roots in english law and not all countries recognise trusts or have the same concept ... now where did I put that damn key
03-08-2013, 09:12 PM
monktonharp

Quote:

Originally Posted by Sergey

In my opinion (that's the disclaimer) this arrest warrant wasn't issued yesterday - it's been in place for the last 5 or 6 weeks. Cohorts of Vlad have already been pulled by the authorities, in particular, Ugianskis, former board chairman of Ukio who is in it up to his neck. The authorities are loathed to comment on their investigations, but I have it on good authority that those involved in the embezzlement are being brought to book, passports removed and placed under house arrest until formal charges are brought.

With the Lithuanian Financial Crimes Investigation Unit officially placing UBIG & Ukio under investigation (they are the equivalent of our SFO) I'd be extremely surprised if assets were unfrozen any time soon, if indeed at all. As I understand it, all cash is also frozen. I don't expect this to change in the foreseeable, and BDO's comments that administration could drag on until 2014 sort of cements this - they must have been advised of this situation, too. They have an office in Kaunas that must be in the loop and they are the chosen appointee of Ukio's admin. As I mentioned in a previous post, this is a political issue and bears sod-all to football.

There will be no 'quick-fix', I'm certain of that, and I don't think there will be a fix at all.

thanks Sergey. you have confirmed my thoughts (and previous posts) that BDO were selected by the Lith. admins, who were appointed by the Lithuanian Government. the government, are not gonnae let anybody off the hook, and one of the main perpetraters is HMFC, costing the Lithuanian citizens £65 mil. at least. they are spinnin roond,on one of the biggest hooks in the abbatoir!:cb
03-08-2013, 09:14 PM
Sanger

Quote:

Originally Posted by malcolm

Is there a concept of trust in lithuania? Trust (or was it the lack of it) arose from the crusades (along with I understand chastity belts :wink:) - the knights heading off to the middle east wanted to make sure their property was safe and could not be seized so left it in the control of others to look after (probably not the key). So it has its roots in english law and not all countries recognise trusts or have the same concept ... now where did I put that damn key

Well ring fence the proceeds of the Tynie sale is the same as freezing the sale. I'll work with Liths to find a structured financial transaction that can bury the Yams as quickly as possible!
03-08-2013, 09:19 PM
jacomo

Quote:

Originally Posted by FranckSuzy

Have they not got pens and writing paper there? :grr:

Complaint letter to the manager of Seton Sands caravan park on the way if not, I'm sure.
03-08-2013, 09:24 PM
StevieC

Quick question ...

If BDO have enough cash in the bank to run the team until December (£900k??), would this money be added to the pot for the secured creditor if the club were to be liquidated this month?
03-08-2013, 09:25 PM
Part/Time Supporter

Quote:

Originally Posted by StevieC

Quick question ...

If BDO have enough cash in the bank to run the team until December (£900k??), would this money be added to the pot for the secured creditor if the club were to be liquidated this month?

Yes.
03-08-2013, 09:42 PM
SloopJB

http://www.15min.lt/en/article/busin...ius-527-358598

Don't know if this matters a jot.

The good part of the bank are having problems.
03-08-2013, 09:44 PM
silverhibee

Quote:

Originally Posted by sidneyhibbie

This is good news my campaign for justice will continue and news like this fuels my goal which is the downfall of the currupt yam empire built on lies fraud and injustice however i am on holiday shortly going to seaton sands caravan park so to all my followers and the guys who have pm me with support thanks guys fear not i will carry on the fight after my well earned break

:hnet:Sidney:not worth

Are you visiting GOC while you are there Sidney. :greengrin
03-08-2013, 09:49 PM
StevieC

Quote:

Originally Posted by Part/Time Supporter

Yes.

Hmmm :hmmm:

So the Lituanians are missing out on a couple of hundred thousand a month, for each month that BDO stave off liquidation?

Could they possibly hanging off long enough for additional income? Say perhaps league money, or a reasonably sized transfer fee?
03-08-2013, 09:58 PM
SmashinGlass

Quote:

Originally Posted by StevieC

Hmmm :hmmm:

So the Lituanians are missing out on a couple of hundred thousand a month, for each month that BDO stave off liquidation?

Could they possibly hanging off long enough for additional income? Say perhaps league money, or a reasonably sized transfer fee?

Possibly, but at this stage it's only likely to contribute towards BDO's fee
03-08-2013, 10:03 PM
silverhibee

What are the chances of Vlad being arrested while he is in Russia and remains there.?

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