Share Transfers Agreed/Cooling off period

[Col2]

How would those of you who work in a commercial arm if a bank or insolvency see this panning out?

Assuming UBIG have some really bad loans to UKIO with poor security, would they look sell Tynie or Squeeze as much cash as they could or just liquidate and get as much cash as they could?

[lord bunberry]

If any of that lot shell out for next season's season tickets it will prove beyond doubt that they are as bright as a blackout. I expect the uptake will be brisk

[Jack Hackett]

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http://www.bloomberg.com/news/2013-0...lure-cost.html


As I thought, Ukio Bankas is for the chopping block even before the Administrator presented his report. Sell off good assets and mince the remainder.

Of course the Yams will see this as raising the necessary readies to ensure HOMFC get their wages on time. It would be a priority for a Lithuanian Admin. looking to make a good impression after all.

This is because they consider themselves to be one of the 'good' assets on Ukio's books...after all, they are completely self-sufficient now and won't be a burden to anyone

....and they can just ignore this comment

"Preliminary data showed Ukio’s liabilities were 500 million litai more than its assets, according to the Bank of Lithuania. That is mainly due to 1.6 billion litai of risky loans that the bank granted to companies related to its 64.9 percent owner, Vladimir Romanov, the central bank said.

Nothing to see here...stick your heads back in the sand

[CropleyWasGod]

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How would those of you who work in a commercial arm if a bank or insolvency see this panning out?

Assuming UBIG have some really bad loans to UKIO with poor security, would they look sell Tynie or Squeeze as much cash as they could or just liquidate and get as much cash as they could?

I see those options as one and the same. Or have I misunderstood the question?

[Col2]

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I see those options as one and the same. Or have I misunderstood the question?

My questioning! I just want them shut down or in administration within a few weeks but can't see this happening while UKIO can squeeze income, a buyer potentially and have security and them carrying on for a while c12 months min.

[CropleyWasGod]

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Probably! I just want them shut down or in administration within a few weeks but can't see this happening while UKIO can squeeze income, a buyer potentially and have security and them carrying on for a while c12 months min.

I can't see it happening in weeks, but there is a scenario unfolding here over which HMFC have very little control. If the new bank decide to use the PBS security to extract money from UBIG, then there's nothing anyone else can do.

[Hibeesforever]

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Rangers had a ground and all the infrastructure in place to make their readmittance viable. Hearts may have nowt other than a name, a history and the clothes they stand up in (possibly)(if they haven't been pawned).

Chin up!

This is why the Hearts fans are so quiet. They know that unlike Goven, their real estate is worth something to people other than for football. Flats within walking distance of Edinburgh city centre and a bristling new Tam stop could be worth a lot if money.
Do you really think a Lithuanian liquidator is going to hesitate pulling the funding line...this is why the average Heart of Midlothian supporter is afraid, very afraid!
Even if a Scottish bank provided credit facilities, how many bake sales would be needed to pay back a loan of £25 million from an asset that will have its main stand shut down in the not too far away future!

Hearts fans would be well advised to save their season ticket money for phoenix share capital.

[Ozyhibby]

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My questioning! I just want them shut down or in administration within a few weeks but can't see this happening while UKIO can squeeze income, a buyer potentially and have security and them carrying on for a while c12 months min.

Where would Ukio be able to squeeze income from? They are massively loss making and are a few weeks from having to shell out £500k to the tax man. Calling in the debt now saves any further losses and allows them to realise their security. If they do it tomorrow they save themselves £350k right away in wages due on the 16th.
If I was them I wouldn't waste anymore time. :-)

[blackpoolhibs]

The gimps have to pay wages, VAT, leccy, gas and all the bills a normal football club have to pay. Yes i did say normal.

Only one question, where is the money coming for all this?

[lord bunberry]

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Where would Ukio be able to squeeze income from? They are massively loss making and are a few weeks from having to shell out £500k to the tax man. Calling in the debt now saves any further losses and allows them to realise their security. If they do it tomorrow they save themselves £350k right away in wages due on the 16th.
If I was them I wouldn't waste anymore time. :-)

I very much doubt hearts will be able to run up anymore loses as there will be no credit from ukio or anyone else for that matter. I would imagine they will have to be completely self sufficient from now on which is obviously going to be their biggest problem in the short term

[#FromTheCapital]

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The gimps have to pay wages, VAT, leccy, gas and all the bills a normal football club have to pay. Yes i did say normal.

Only one question, where is the money coming for all this?

They have saved a fortune by getting volunteers to do their pitch maintenance. And let's not forget the upcoming bake sales. Everything will be fine for the big team

[Springbank]

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This is why the Hearts fans are so quiet. They know that unlike Goven, their real estate is worth something to people other than for football. Flats within walking distance of Edinburgh city centre and a bristling new Tam stop could be worth a lot if money.
Do you really think a Lithuanian liquidator is going to hesitate pulling the funding line...this is why the average Heart of Midlothian supporter is afraid, very afraid!
Even if a Scottish bank provided credit facilities, how many bake sales would be needed to pay back a loan of £25 million from an asset that will have its main stand shut down in the not too far away future!

Hearts fans would be well advised to save their season ticket money for phoenix share capital.

A bristling new Tam stop you say?

I knew Tam McCourt would get back in the limelight sooner or later!

[Fat Penlon]

I will take a guess and say that the foundation of hearts or what ever the fans group is called will use whatever it was they offered vlad for the club a couple of months ago to buy the stadium from ukio. The pbs was valued around 4.8m was it not? The fans consortium will probably manage to scrape that together which will probably be enough for a ukio in admin.

[Danderhall Hibs]

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The gimps have to pay wages, VAT, leccy, gas and all the bills a normal football club have to pay. Yes i did say normal.

Only one question, where is the money coming for all this?

Out of their profits. They'll want to use them up so they pay less tax obviously.

[Dr Hackenbush]

Wait though......... potentially bad news - I 'm sure I just heard on the BBC 10 O'clock News that billionaire business man Warren Buffet is to buy Hertz!!!!!...................oh wait no I misheard it was HEINZ ........ I apologise for my dodgy sauce.........

[Ozyhibby]

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I will take a guess and say that the foundation of hearts or what ever the fans group is called will use whatever it was they offered vlad for the club a couple of months ago to buy the stadium from ukio. The pbs was valued around 4.8m was it not? The fans consortium will probably manage to scrape that together which will probably be enough for a ukio in admin.

Can't remember them ever getting a valuation of £4.8m

[blackpoolhibs]

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I will take a guess and say that the foundation of hearts or what ever the fans group is called will use whatever it was they offered vlad for the club a couple of months ago to buy the stadium from ukio. The pbs was valued around 4.8m was it not? The fans consortium will probably manage to scrape that together which will probably be enough for a ukio in admin.

Good try yam boy.

[Fat Penlon]

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Good try yam boy.

I ok then! do you want me to pm you my ST details to prove I'm a hibby?

Very sad.

[Seveno]

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IMHO, things have gone too far for any protective action on the part of the club. They can only sit and wait.

That said, once the new bank starts to move on the UBIG debt, there could be an opportunity for a deal with Pat & Co. One can see the situation whereby the bank weighs up alternative courses of action. 1. call in the security, take control of Tynie, market it, sell it (if they can), with all the attendant time and expense. or 2. accept an offer just to get some cash in. That offer, of course, might come from a property developer.

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Good try yam boy.

i don't want to put a damper on our merriment but I have heard that there is some serious money involved in FoH from people that made money during the excesses of the banking jamboree. Whether they are prepared to waive goodbye to large chunks of their ill-gotten gains is another matter.

[Fat Penlon]

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i don't want to put a damper on our merriment but I have heard that there is some serious money involved in FoH from people that made money during the excesses of the banking jamboree. Whether they are prepared to waive goodbye to large chunks of their ill-gotten gains is another matter.

I may have my figure wrong but there was definitely talk of money to romanov up front for hearts if he waived the debt. All I'm saying is I think they might use it to buy the stadium if the ukio admins try to sell it.

[EH6 Hibby]

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I may have my figure wrong but there was definitely talk of money to romanov up front for hearts if he waived the debt. All I'm saying is I think they might use it to buy the stadium if the ukio admins try to sell it.

Did they not offer £450,000 and a Curly Wurly?

[Fat Penlon]

Haha the ukio admins might take that!

[Ozyhibby]

Curly Wurlys are nice. Tempting offer.

[cocopops1875]

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i don't want to put a damper on our merriment but I have heard that there is some serious money involved in FoH from people that made money during the excesses of the banking jamboree. Whether they are prepared to waive goodbye to large chunks of their ill-gotten gains is another matter.

well they havent been up till now

[cocopops1875]

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Did they not offer £450,000 and a Curly Wurly?

this was the figure quoted The Italian Livi Geezer appaerntly offered £5mil though and i guess as Vlad said he was too dodgy for hearts He could be back in the running as i doubt an Administrator would care about anything other than CASH

[lapsedhibee]

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this was the figure quoted The Italian Livi Geezer appaerntly offered £5mil though and i guess as Vlad said he was too dodgy for hearts He could be back in the running as i doubt an Administrator would care about anything other than CASH

[bingo70]

Foh don't have any money, that's the point to their bid, theyre not investing anything really, they get the fans to do it and they just manage the club.

[DC_Hibs]

(Without) Foundation have spent about two years offering diddly squat other than hot air in the press since they went public with their masterplan to rescue the Saviles.

I doubt they could or would offer even what the stadium is worth which at best is valued at about a third of the debt outstanding currently (c£25m?) - and thats forgetting about the £38m+ over and above that which has already either been written off or swapped for equity.

Forget about FoH as they want Hertz for a song and Vlad hasn't taken them seriously either due to their timewasting offers.

All being well there will still be a housebuilder or two willing to outbid any groups of offenders who will be in the bidding when the stadium and land is for sale shortly.

"Macaroon baaaaaaaaars"


Die Die ya Diet Huns

[Vini1875]

I can't see why a property developer would take the place on. OK the location is close the city centre but hardly prime real estate and the bad blood/press generated might actually be harmful to any project. They may encounter hostile public/yam opinion and encounter a hostile council. hearts would have to offer for sale as the only way of saving themselves before I would see a house builder moving in.

[Mon Dieu4]

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I can't see why a property developer would take the place on. OK the location is close the city centre but hardly prime real estate and the bad blood/press generated might actually be harmful to any project. They may encounter hostile public/yam opinion and encounter a hostile council. hearts would have to offer for sale as the only way of saving themselves before I would see a house builder moving in.

Doesn't have to be a property developer though, the likes of Tesco in their quest for world domination wouldn't care