Share Transfers Agreed/Cooling off period

[Ozyhibby]

When it eventually happens they are going to be walking about saying that it's not their fault and that nobody could have seen it coming. And they won't be lying, their just that stupid.

[Mikey]

Their court case against Ramez Daher resumes again on Feb 14th..........

HMFC -v-Ramez Daher

HBJ Gateley

A650/12

http://www.scotcourts.gov.uk/rolls/s.../EDI130214.htm

[MB62]

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Their court case against Ramez Daher resumes again on Feb 14th..........



http://www.scotcourts.gov.uk/rolls/s.../EDI130214.htm

No idea what the case is all about but is this not that lot taking this Daher to court rather than the other way round?

[Mikey]

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No idea what the case is all about but is this not that lot taking this Daher to court rather than the other way round?

Yes. One of his defunct companies is due them money.

[BarneyK]

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http://www.scotsman.com/news/vladimi...arts-1-2781077

This story made my day - great to hear someone involved with "Save our Hearts" doesn't realise that their biggest creditor suffering financial difficulties might affect them.

What a shower of clowns.

Headline - Vladimir Romanov: Bank woes will not break Hearts

Content - not one single quote from Vladimir Romanov

[jonty]

http://www.nasdaqomxbaltic.com/marke...&downloadcsv=0
-16%. hahahahahahearts

First time its been under 10p and was close to hitting 8p. Thats what Big Teams are all about.

[Sergey]

Sorry, the following link is in Latvian, but seemingly Vlad has today confirmed that he's offloaded the basketball team that he 'bought'.

http://www.tvnet.lv/sports/basketbol...gira_pardosanu

The players are seemingly owed 25 million Lith litas.

[Lix]

Ukio Slumps as Majority Owner Exits Zalgiris: Vilnius Mover
2013-02-08 15:20:42.746 GMT




By Bryan Bradley
Feb. 8 (Bloomberg) -- AB Ukio Bankas, the Lithuanian bank
that’s lost more than half its value in a year, fell the most in
13 years after majority owner Vladimir Romanov said he was
ceding ownership of the debt-laden Zalgiris basketball club.
The shares plunged as much as 21 percent, posting the
steepest intraday drop since February 2000. They closed down 17
percent at 0.081 euro in Vilnius, valuing the bank at 29.4
million euros ($39 million). Volume of 2.5 million shares was
the most in a year, according to data compiled by Bloomberg.
Romanov, who owns 64.9 percent of Kaunas-based Ukio Bankas,
will relinquish ownership of Kaunas Zalgiris basketball club
because the city council refused to provide enough financial
support for the team, Verslo Zinios newspaper reported on its
website today. Romanov also controls Edinburgh soccer club Heart
of Midlothian Plc through Ukio Banko Investicine Grupe, a sister
company of the lender.
“Investors don’t like all the media reports about the
bank’s main shareholder,” Tadas Povilauskas, an analyst at
Finasta investment bank in Vilnius, said by phone. “If he can
no longer afford to support his sports club, he probably also
wouldn’t be able to support the bank if needed.”
The falling share price, which dropped 25 percent this
week, has also triggered bank calls for additional collateral
from some investors, who’ve “had to either pay in or close
their positions,” according to Povilauskas.
Ukio Bankas in October reported a group net loss of 44
million litai ($17 million) for the first nine months of 2012.
Since then, it has had to assuage investor concerns about the
quality of its loans, the valuation of real-estate it owns and
probes of Russian money that was laundered through its accounts.

[Lucius Apuleius]

Lix, I think I love you. That sounds sweet sweet sweet.

[Chibs]

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Ukio Slumps as Majority Owner Exits Zalgiris: Vilnius Mover
2013-02-08 15:20:42.746 GMT




By Bryan Bradley
Feb. 8 (Bloomberg) -- AB Ukio Bankas, the Lithuanian bank
that’s lost more than half its value in a year, fell the most in
13 years after majority owner Vladimir Romanov said he was
ceding ownership of the debt-laden Zalgiris basketball club.
The shares plunged as much as 21 percent, posting the
steepest intraday drop since February 2000. They closed down 17
percent at 0.081 euro in Vilnius, valuing the bank at 29.4
million euros ($39 million). Volume of 2.5 million shares was
the most in a year, according to data compiled by Bloomberg.
Romanov, who owns 64.9 percent of Kaunas-based Ukio Bankas,
will relinquish ownership of Kaunas Zalgiris basketball club
because the city council refused to provide enough financial
support for the team, Verslo Zinios newspaper reported on its
website today. Romanov also controls Edinburgh soccer club Heart
of Midlothian Plc through Ukio Banko Investicine Grupe, a sister
company of the lender.
“Investors don’t like all the media reports about the
bank’s main shareholder,” Tadas Povilauskas, an analyst at
Finasta investment bank in Vilnius, said by phone. “If he can
no longer afford to support his sports club, he probably also
wouldn’t be able to support the bank if needed.”
The falling share price, which dropped 25 percent this
week, has also triggered bank calls for additional collateral
from some investors, who’ve “had to either pay in or close
their positions,” according to Povilauskas.
Ukio Bankas in October reported a group net loss of 44
million litai ($17 million) for the first nine months of 2012.
Since then, it has had to assuage investor concerns about the
quality of its loans, the valuation of real-estate it owns and
probes of Russian money that was laundered through its accounts.

Excellant

[jonty]

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Lix, I think I love you. That sounds sweet sweet sweet.

Who needs santa claus?

[greenginger]

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Rumour has it that Vlad's sister is in on the act

Her name is Olga Gončaruk who has lent ŪBIG two 4.4 million. Lt. loans. In return she's now part-owned the real estate that's on Ukio's books.

Looks like the assets have been syphoned off before their demise.

I'm trying to find out more.

I take it Olga is mother of Julija Goncaruk, Hearts director and fashion designer to the great and good of Milan !

[Kaiser1962]

It will be interesting to see how the basketball scenario plays out as this may provide an indication of what the Yam's future holds.

[Sergey]

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I take it Olga is mother of Julija Goncaruk, Hearts director and fashion designer to the great and good of Milan !

She's Vlad's daughter-in-law.

[bingo70]

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It will be interesting to see how the basketball scenario plays out as this may provide an indication of what the Yam's future holds.

Will the Basketball team have saleable assets like a stadium though and i'm guessing they're not in debt to the same amount so i'm not sure they are comparable are they?

[PatHead]

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Will the Basketball team have saleable assets like a stadium though and i'm guessing they're not in debt to the same amount so i'm not sure they are comparable are they?

Thought there was something about him owning a stadium in Kaunus which had been overvalued when it was secured against UKIBs debts?

[Dave-O]

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Ukio Slumps as Majority Owner Exits Zalgiris: Vilnius Mover
2013-02-08 15:20:42.746 GMT




By Bryan Bradley
Feb. 8 (Bloomberg) -- AB Ukio Bankas, the Lithuanian bank
that’s lost more than half its value in a year, fell the most in
13 years after majority owner Vladimir Romanov said he was
ceding ownership of the debt-laden Zalgiris basketball club.
The shares plunged as much as 21 percent, posting the
steepest intraday drop since February 2000. They closed down 17
percent at 0.081 euro in Vilnius, valuing the bank at 29.4
million euros ($39 million). Volume of 2.5 million shares was
the most in a year, according to data compiled by Bloomberg.
Romanov, who owns 64.9 percent of Kaunas-based Ukio Bankas,
will relinquish ownership of Kaunas Zalgiris basketball club
because the city council refused to provide enough financial
support for the team, Verslo Zinios newspaper reported on its
website today. Romanov also controls Edinburgh soccer club Heart
of Midlothian Plc through Ukio Banko Investicine Grupe, a sister
company of the lender.
“Investors don’t like all the media reports about the
bank’s main shareholder,” Tadas Povilauskas, an analyst at
Finasta investment bank in Vilnius, said by phone. “If he can
no longer afford to support his sports club, he probably also
wouldn’t be able to support the bank if needed.”
The falling share price, which dropped 25 percent this
week, has also triggered bank calls for additional collateral
from some investors, who’ve “had to either pay in or close
their positions,” according to Povilauskas.
Ukio Bankas in October reported a group net loss of 44
million litai ($17 million) for the first nine months of 2012.
Since then, it has had to assuage investor concerns about the
quality of its loans, the valuation of real-estate it owns and
probes of Russian money that was laundered through its accounts.

For a sec I thought they meant Edinburgh Council, if only......

[inglisavhibs]

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This is what I find intriguing. While the Yams are applauding cake bakes, player sales & getting to cup finals as a means of their salvation I suspect it may be actually the opposite. I think Vlad will hang around just long enough to drain every last penny from The Believers then depart. If income sources such as above were not on horizon I think he may have already folded his tent. I think to some extent he's already given up in that attempts to sell marketable assets in the window were unsuccessful with exception of RM. Unless he can sell to Eastern Europe in next few months then most players with a value will depart for free in summer. I'm 100% convinced the end game for Vlad is in play but impact on Yams remains an unknown, definitely not good & hopefully horribly nasty!!

If Hearts go into liquidation, Ubig lose all their £24m, so they won't do that.
If Hearts go in to administration ,Ubig again lose most of their £24m, so they won't do that either.
options
1 lease the ground out to new owners of the football club and make them pay the debt back over a long period as well as the interest they are currently charging Hearts.
2 cut their losses, sell Tynie and surrounding area and any other assets they may have and allow the club to fold.
3 continue as is, taking annual interest payments and probably asking Hearts for additional payments to start reducing debt.
none of these are great options for Hearts or Ubig.

Hearts best option might be for Ubig to fold leaving debt free unless of course the Lithuanian liquidators sell tynecastle.

[greenginger]

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She's Vlad's daughter-in-law.

Who Olga or Juljia, I'm sure Juljia was reported as Vlad 's niece and Olga would be Vlad's sister with Goncaruk being her married name.


Makings of a song here - The Romanov Family, bit like the " Norwich Family "

[Ozyhibby]

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If Hearts go into liquidation, Ubig lose all their £24m, so they won't do that.
If Hearts go in to administration ,Ubig again lose most of their £24m, so they won't do that either.
options
1 lease the ground out to new owners of the football club and make them pay the debt back over a long period as well as the interest they are currently charging Hearts.
2 cut their losses, sell Tynie and surrounding area and any other assets they may have and allow the club to fold.
3 continue as is, taking annual interest payments and probably asking Hearts for additional payments to start reducing debt.
none of these are great options for Hearts or Ubig.

Hearts best option might be for Ubig to fold leaving debt free unless of course the Lithuanian liquidators sell tynecastle.

If UBIG fold Hearts won't be debt free

[Bishop Hibee]

Pure coincidence that as Vlad's empire crumbles, rumours circulate over a new stadium at Sighthill

[hibee_nation]

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I take it Olga is mother of Julija Goncaruk, Hearts director and fashion designer to the great and good of Milan !

Heard the Revolution reversible satin jackets are going down a storm with the Milanese gliterati, probably making the yams loads of dosh.

[Golden Bear]

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If UBIG fold Hearts won't be debt free

That's all very well but they'll only be chasing their own tail. I mean who else is going to pursue the outstanding debt?

[matty_f]

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That's all very well but they'll only be chasing their own tail. I mean who else is going to pursue the outstanding debt?

Ubig's creditors.

[cam2644]

I imagine Vlad is planning his exit but will time it to minimize his losses. That means the end could come suddenly at a time the Jambos don't expect it.

[greenlex]

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If UBIG fold Hearts won't be debt free

If RBOS had gone bust I would still have owed somebody my mortgage and loan. It wouldn't have been written off.

[Seveno]

Meanwhile in Yamland, they are wondering if 'Uncle Vlad' will come to the Final.

Be honest, we'll miss the humour.

[greenginger]

Had a look over on kickback to see how today's news is going down. In a word unbelievable !


Top thread is about a yam who lost his scarf 2 weeks ago in the pub -44 posts.

The EEN article - 5 posts and it won't affect them as they are a stand alone business now. No mention of debt or securities held by Ukio Bankas on Tynecastle.

They are living in cloud coo-coo land.

[Seveno]

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Had a look over on kickback to see how today's news is going down. In a word unbelievable !


Top thread is about a yam who lost his scarf 2 weeks ago in the pub -44 posts.

The EEN article - 5 posts and it won't affect them as they are a stand alone business now. No mention of debt or securities held by Ukio Bankas on Tynecastle.

They are living in cloud coo-coo land.

Come on, be reasonable. That scarf could become a collectors item.

[inglisavhibs]

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If UBIG fold Hearts won't be debt free

That's the bit I am not sure about. Would they force the sale of Tynie?