Share Transfers Agreed/Cooling off period

[matty_f]

Assuming that the info is correct (i.e. they're not contesting the case),will the amount be payable immediately?

[CropleyWasGod]

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Assuming that the info is correct (i.e. they're not contesting the case),will the amount be payable immediately?

In theory, yes. In theory, it was payable months ago.

However, if the story about discussing the interest and penalties is correct, HMRC may hang fire for the moment. It's common for there to be a negotiation over the penalty part of a settlement. In that case, once the penalties are agreed, there is normally a 30 day period for payment.

If that story is not true, then HMRC can demand all of the settlement now.

[Hibercelona]

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Well you are still making tedious posts so that's something.

What's tedious is all the hype about them being close to death, yet no matter how close to death we make them out to be, they never actually come close to dying.

Is there anybody on here who genuinely knows whats going on over at the pink pishpot? Or is it all just drivel?

I want to know the facts of whats actually going on over there. But this thread just seems to be full of jokes, without any indication of whats actually going on.

[CropleyWasGod]

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What's tedious is all the hype about them being close to death, yet no matter how close to death we make them out to be, they never actually come close to dying.

Is there anybody on here who genuinely knows whats going on over at the pink pishpot? Or is it all just drivel?

I want to know the facts of whats actually going on over there. But this thread just seems to be full of jokes, without any indication of whats actually going on.

That's quite a slur on those of us who have a handle on what's going on. We don't know the full facts, of course, but those of us with some knowledge of business and HMRC can interpret what does sneak into the public domain.

Using the Rangers experience as an example, we collectively were always pretty close to the truth. Indeed, sometimes I thought that MSM was getting some of its info from us.

[Ozyhibby]

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What's tedious is all the hype about them being close to death, yet no matter how close to death we make them out to be, they never actually come close to dying.

Is there anybody on here who genuinely knows whats going on over at the pink pishpot? Or is it all just drivel?

I want to know the facts of whats actually going on over there. But this thread just seems to be full of jokes, without any indication of whats actually going on.

In my opinion they are close to death now.
If you don't want tedious jokes and decimation about their demise this is not the place for you.
Fact is that there is very little transparency from Lithuania about Hearts so all we can go on is what's happening here. They have admitted they need £2m to finish the season. It's unlikely they will raise that by the end of the share issue in 3 weeks. They also have a further £3m bill coming from HMRC.
Surely that enough of a basis for a little harmful speculation about them?

[clerriehibs]

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What's tedious is all the hype about them being close to death, yet no matter how close to death we make them out to be, they never actually come close to dying.

Is there anybody on here who genuinely knows whats going on over at the pink pishpot? Or is it all just drivel?

I want to know the facts of whats actually going on over there. But this thread just seems to be full of jokes, without any indication of whats actually going on.

I don't think it was a hibs.netter that posted on hmfc website that the game v. St midden might be theur last. So we're not making out anything - we're just enjoying the ride!

[Hibercelona]

Not trying to have a go at people. But its just difficult to get the facts straight, when you know theres going to be bias spin on anything that is said on here.

Are they really as close to death as we're making out on here? Or are we just getting a little ahead of ourselves?

Which we have a tendency to do from time to time.

[clerriehibs]

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Not trying to have a go at people. But its just difficult to get the facts straight, when you know theres going to be bias spin on anything that is said on here.

Are they really as close to death as we're making out on here? Or are we just getting a little ahead of ourselves?

Which we have a tendency to do from time to time.

Read roamingoff's lips - "we're donald ducked - give me all your money and your kids' too"

[allezsauzee]

I might be missing something but given that the vast majority of Hertz debt is owed to Vladmir Romanov's bank, why is he going to let them go into administration and thus will lose control? Clearly he doesn't want to provide them with the cashflow to survive so he gets the mug punter to do that by selling sharesto him in an insolvent company which he is valuing at £20m

[Peevemor]

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I might be missing something but given that the vast majority of Hertz debt is owed to Vladmir Romanov's bank, why is he going to let them go into administration and thus will lose control? Clearly he doesn't want to provide them with the cashflow to survive so he gets the mug punter to do that by selling sharesto him in an insolvent company which he is valuing at £20m

If he can't get his hands on enough cash to pay the bills, then he has no choice in the matter.

[Ozyhibby]

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Read roamingoff's lips - "we're donald ducked - give me all your money and your kids' too"

Don't think it was the actual kids he was after? Or was it? Jambo b******s.

[clerriehibs]

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Don't think it was the actual kids he was after? Or was it? Jambo b******s.

=-O

There is an apostrophe there :-P

[green glory]

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Don't think it was the actual kids he was after? Or was it? Jambo b******s.

I can just imagine Vlad in his child catcher from Chitty Chitty Bang Bang costume dancing around Gorgie with his lollipops.

[allezsauzee]

Is there any evidence that Vlad is short of the necessary cash if the yams had told him to bolt?

[EuanH78]

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I might be missing something but given that the vast majority of Hertz debt is owed to Vladmir Romanov's bank, why is he going to let them go into administration and thus will lose control? Clearly he doesn't want to provide them with the cashflow to survive so he gets the mug punter to do that by selling sharesto him in an insolvent company which he is valuing at £20m

Also unlikely to see administration at all. As even one Yam on kickback said - paraphrasing here -' £5M to Romanov in cash now, is probably worth more than £20M on paper' smart money says straight to liquidation.

We can speculate as to why Romanov is no longer funding them, be it loss of interest or something more sinister i.e he no longer has a pot to piss in which the performance of his other companies seem to suggest or maybe something else entirely. However, he is no longer funding them and considering their general financial maladministration it is right to expect them to go pop sooner rather than later, at the minute they are not able to operate without external funding. Share money and bake sales can only keep them going for so long....the tax man cometh.

[#FromTheCapital]

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Is there any evidence that Vlad is short of the necessary cash if the yams had told him to bolt?

The share prices in ukio bankas have taken a major nosedive in the last month or 2, someone will be able to post a link to the graph showing this

[Leithenhibby]

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The share prices in ukio bankas have taken a major nosedive in the last month or 2, someone will be able to post a link to the graph showing this

Just ask ..... This is the last month and down a whopping %25

http://www.nasdaqomxbaltic.com/marke...=11&end_y=2012

[jgl07]

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I might be missing something but given that the vast majority of Hertz debt is owed to Vladmir Romanov's bank, why is he going to let them go into administration and thus will lose control? Clearly he doesn't want to provide them with the cashflow to survive so he gets the mug punter to do that by selling shares to him in an insolvent company which he is valuing at £20m

I thought that the debt was owed to UBIG not UKIAS Bank (which Romanov only had a minority shareholding). I think it is more a case of can't pay than won't pay.

Regarding selling shares in an insolvent company, that is the reason why none of the credit card companies will process payments for share applications. They fear that the disgruntled punters will come after them for a refund of the money paid.

[gogse]

Romanov (taken from Wikipedia)
He is chairman of UBIG Investments which is the majority shareholder in Scottish Premier League football club Hearts and Lithuanian Basketball League club Žalgiris. He also controls the Lithuanian club FBK Kaunas
Romanov was amongst those who founded Ūkio bankas, which was the first private bank to be founded in Lithuania. Romanov still has a substantial stake in the bank through his private investment group UBIG.

I have also found that it was Ukio bankas that setup the investment group UBIG (see link).
http://www.bib.ba/eng/?page=103

So... If he “has a substantial stake in the bank through his private investment group UBIG” (or vice versa) and the bank is getting it tight, does it follow that UBIG are getting it tight? Also as the chairman of UBIG, does it also follow that he will be getting it tight (especially as all his investments in Edinburgh have fallen flat on their face (property and sport))?

It seems to me that UBIG and Ukio are so intertwined that it would be difficult to see a gap. Either way they are all ****’ed

[Pedantic_Hibee]

Tumescent.

[poolman]

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Tumescent.

At my age I am usually in detumescence

[gogse]

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Tumescent.

Dinnae say that or you’ll have Geldof and Bono helpin them out.

Good though, and correct.

[greenginger]

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Romanov (taken from Wikipedia)
He is chairman of UBIG Investments which is the majority shareholder in Scottish Premier League football club Hearts and Lithuanian Basketball League club Žalgiris. He also controls the Lithuanian club FBK Kaunas
Romanov was amongst those who founded Ūkio bankas, which was the first private bank to be founded in Lithuania. Romanov still has a substantial stake in the bank through his private investment group UBIG.

I have also found that it was Ukio bankas that setup the investment group UBIG (see link).
http://www.bib.ba/eng/?page=103

So... If he “has a substantial stake in the bank through his private investment group UBIG” (or vice versa) and the bank is getting it tight, does it follow that UBIG are getting it tight? Also as the chairman of UBIG, does it also follow that he will be getting it tight (especially as all his investments in Edinburgh have fallen flat on their face (property and sport))?

It seems to me that UBIG and Ukio are so intertwined that it would be difficult to see a gap. Either way they are all ****’ed

http://www.nasdaqomxbaltic.com/marke...s&tab=security

I think that is all a bit out of date. Vlad owns 65% of the bank personally, UBIG have a very small holding in the Bank, if any.

[gogse]

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I think that is all a bit out of date. Vlad owns 65% of the bank personally, UBIG have a very small holding in the Bank, if any.

UBIG stands for “Ūkio banko investicinė grupė “ Ukio Banko Investment Group?

So, is it not the case that UBIG are the investment branch of UKIO, rather than UBIG having shares in UKIO?

[Crazyhorse]

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I might be missing something but given that the vast majority of Hertz debt is owed to Vladmir Romanov's bank, why is he going to let them go into administration and thus will lose control? Clearly he doesn't want to provide them with the cashflow to survive so he gets the mug punter to do that by selling sharesto him in an insolvent company which he is valuing at £20m

I agree which is why he would go straight to liquidation I would have thought. The problem for me, well perhaps for the Yams actually, is he has just received £600k in sterling (much of it in cash apparently) what is in it for him to hand that over in tax? He will never get that amount again. He also has saved a months wages with the deferment. So is this not the perfect time to liquidate? People talk about him losing control of his key earning vehicle but has he not in reality already done so? Maybe the finance boys like CWG or Cav can explain when the best time to bail out of a situation like is if you are a crook.

[gogse]

An absolute must read.

http://sport.stv.tv/football/clubs/h...necastle-club/

[Kato]

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An absolute must read.

http://sport.stv.tv/football/clubs/h...necastle-club/

Pretty good snapshot and the journalism lacks the usual "riddy" cringe factor from STV of having the word "Scottish" attached to load of drivel passing as news.

Vague on this bit In the most recent company accounts (for the period to June 30, 2011) Hearts owed UBIG £22.4m. The accounts state that UBIG has confirmed it will not seek repayment of this in the foreseeable future.

I thought that position was being reconsidered July 2013 which is very much the foreseeable future.

[JeMeSouviens]

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Pretty good snapshot and the journalism lacks the usual "riddy" cringe factor from STV of having the word "Scottish" attached to load of drivel passing as news.

Vague on this bit In the most recent company accounts (for the period to June 30, 2011) Hearts owed UBIG £22.4m. The accounts state that UBIG has confirmed it will not seek repayment of this in the foreseeable future.

I thought that position was being reconsidered July 2013 which is very much the foreseeable future.

Not for the Yams it isn't.

[gogse]

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Vague on this bit In the most recent company accounts (for the period to June 30, 2011) Hearts owed UBIG £22.4m. The accounts state that UBIG has confirmed it will not seek repayment of this in the foreseeable future.

Agree, but…

“UBIG has a standard security charge over Tynecastle Stadium and the land around it. This means UBIG has the power to sell the stadium to recoup debts it is owed.”

And this bit is interesting...

“UBIG holds a floating charge over these assets, and any others that may come into the club’s possession. This floating charge exists until a point at which the company is wound up or enters into receivership. At that point the assets are ‘crystallised’ and become the possession of UBIG.”

Is it the case that if Hearts go into receivership, UBIG can sell the stadium and assets to recover their investment?

[Ozyhibby]

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Agree, but…

“UBIG has a standard security charge over Tynecastle Stadium and the land around it. This means UBIG has the power to sell the stadium to recoup debts it is owed.”

And this bit is interesting...

“UBIG holds a floating charge over these assets, and any others that may come into the club’s possession. This floating charge exists until a point at which the company is wound up or enters into receivership. At that point the assets are ‘crystallised’ and become the possession of UBIG.”

Is it the case that if Hearts go into receivership, UBIG can sell the stadium and assets to recover their investment?

Yes.