Share Transfers Agreed/Cooling off period

[surreyhibbie]

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Talking of which; hibs.netters are going soft. Poll now only stands at 50.05% in favour of hertz being vapourised.

probably just guys enjoying the entertainment value..great to see the half wits squirm.

[grunt]

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No doubt over the road they'll be jumping on the fact that he's got the relationship between HoMFC, UBIG and Ukio a bit wrong, but that doesn't alter the general point of the article to any great degree, and that is absolutely right IMO.

I think you're being a bit kind here. He got the fundamental facts completely wrong, and for me personally that invalidates the whole article. He should take it down and start again.

[Spike Mandela]

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I think you're being a bit kind here. He got the fundamental facts completely wrong, and for me personally that invalidates the whole article. He should take it down and start again.

The waters are so muddied and the facts are so vague that no commentator will have facts 100% right on the Romanov/HMFC/UKIO/UBIG melting pot including the esteemed members of this board.

[Saorsa]

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Petition on Brokeback to get Mugglyn out, lol.

And some guy called John Murray taking pelters for appointing him!!

So the youth development guy appoints the managers, they just can't bring themselves to say a bad word against Romanov, petrified if they turn against him then he'll pull the plug.

I think he should be applauded, Fester is doing a great job

[Saorsa]

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What rubbish. Don't you know that Mr Romanov is not bankrupt, the collapse of Ukio Bankas does not affect Hearts and, in any case, they are now profitable and an asset to UBIG.

And another thing, Lord George Foulkes does not pish his breeks.

[Caversham Green]

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I think you're being a bit kind here. He got the fundamental facts completely wrong, and for me personally that invalidates the whole article. He should take it down and start again.

To be fair the bulk of the article is speculation about what might happen to HoMFC and that is broadly the same however the debt is divvied up. Strange that he mentions the 1990 company which is barely relevant but misses Heart of Midlothian 2005 Ltd, where there is a potentially interesting development.

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The waters are so muddied and the facts are so vague that no commentator will have facts 100% right on the Romanov/HMFC/UKIO/UBIG melting pot including the esteemed members of this board.

Agreed, but one point he has missed that I think is hugely significant is the nature of Ukio's security over HoMFC's assets. While UBIG remain 'solvent' that effectively blocks any cheap sale of the club.

He might also have mentioned the 18 point deduction if UBIG become officially insolvent.

[Spike Mandela]

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To be fair the bulk of the article is speculation about what might happen to HoMFC and that is broadly the same however the debt is divvied up. Strange that he mentions the 1990 company which is barely relevant but misses Heart of Midlothian 2005 Ltd, where there is a potentially interesting development.



Agreed, but one point he has missed that I think is hugely significant is the nature of Ukio's security over HoMFC's assets. While UBIG remain 'solvent' that effectively blocks any cheap sale of the club.

He might also have mentioned the 18 point deduction if UBIG become officially insolvent.

Paul McConville is very open to making corrections and indeed publishing guest contributors. Perhaps one of our more financially and legally astute members could inform his knowledge?

[Bostonhibby]

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What rubbish. Don't you know that Mr Romanov is not bankrupt, the collapse of Ukio Bankas does not affect Hearts and, in any case, they are now profitable and an asset to UBIG.

And another thing, Lord George Foulkes does not pish his breeks.

So what might the stain that is in evidence on that famous picture be?

I think to be fair on him we should consider all other options?

I'd suggest maybe he was trying a cheap can of soup per the article here in an attempt to reduce his gargantuan expenses claims and save us tax payers a bit of money?

[Treadstone]

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canny find the main perpetrator either. bit like trying to charge someone wi' murder, but nae body .

Can be done though.

http://www.bbc.co.uk/news/uk-scotlan...tland-18247944

[QMU-1875]

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Surely photoshopped? Brilliant if not!

[Saorsa]

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Surely photoshopped? Brilliant if not!

Sorry tae spoil it for you but I'm afraid I did photoshop it, still....

[Caversham Green]

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Paul McConville is very open to making corrections and indeed publishing guest contributors. Perhaps one of our more financially and legally astute members could inform his knowledge?

Good point. I might drop him an email later on.

[Treadstone]

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Sorry tae spoil it for you but I'm afraid I did photoshop it, still....

Talking of photoshopping, who done that picture of Fester wi' the shirt, tie and tracky bottoms combo. What ? Its real.

[Saorsa]

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Talking of photoshopping, who done that picture of Fester wi' the shirt, tie and tracky bottoms combo. What ? Its real.

Naebody could photoshop that it was 100% genuine

http://i1.dailyrecord.co.uk/incoming...s+John+McGlynn

It was such a fashion statement they decided tae use it for an advertisement

[QMU-1875]

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Good point. I might drop him an email later on.

Il pretend I didn't hear that haha

[Seveno]

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Sorry tae spoil it for you but I'm afraid I did photoshop it, still....

Just because he was once found lying drunk in a gutter. Shame on you Dan.

In any case, the pish comes out of his mouth so it was a bad attempt at photo-shopping.

[Saorsa]

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Just because he was once found lying drunk in a gutter. Shame on you Dan.

In any case, the push comes out of his mouth so it was a bad attempt at photo-shopping.

Sorry

[Treadstone]

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Naebody could photoshop that it was 100% genuine

I can imagine the conversation as Fester turns to Mrs Fester at a do "but the invitation said smart/casual"

[Saorsa]

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I can imagine the conversation as Fester turns to Mrs Fester at a do "but the invitation said smart/casual"

[Spike Mandela]

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Petition on Brokeback to get Mugglyn out, lol.

And some guy called John Murray taking pelters for appointing him!!

So the youth development guy appoints the managers, they just can't bring themselves to say a bad word against Romanov, petrified if they turn against him then he'll pull the plug.

People are underestimating how wise the Hearts board are. Clearly their agenda was to hold off administration until next year and thus hired a manager to get as few points this season as possible to reduce the points deduction they will suffer. Genius.

[the_ginger_hibee]

Posted this to the PM board. Not suggesting this could happen across the road but it does make interesting reading for now...

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Portsmouth could do nothing when Antonov and his Snoras bank collapsed and they entered administration almost immediately after.

Funny you mention that Sergey, the following from 2011 reads as a carbon copy of HoMoFC's latest drivel statement...

http://www.bbc.co.uk/sport/0/football/15792023

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Portsmouth say the plight of Snoras Bank will have no direct impact on their day-to-day operations, which "carry on as normal".

The bank, which is part owned by one of Pompey's main backers Vladimir Antonov, has gone into temporary administration.
Antonov owns 68% of Bankas Snoras and an administrator has been appointed to assess its financial position.
The Russian businessman is the backer of Convers Sports Initiatives (CSI) which owns Portsmouth Football Club.
On Thursday CSI released a statement saying as far as they were concerned, it was "business as usual".

Portsmouth FC statement
"In the light of the recent events at Snoras Bank, Convers Sports Initiatives (CSI) would like to reassure its companies, staff, and the fans of its teams and events, that it remains very much business as usual," said the statement.
"We are operationally unaffected by Snoras Bank entering temporary administration.
"CSI has been solely financed through the private wealth of its owners. Snoras Bank has never provided funding for the purchase of a CSI organisation, nor has it lent any money to these businesses after they have been acquired."

It is believed the administrator will look at restructuring the business, amid reports that assets totalling around £247m may be unaccounted for.
Portsmouth added in a statement on Friday that they were unaffected by the situation at Snoras Bank.
"Portsmouth Football Club are aware of the recent news reports in connection with Snoras Bank," said the statement.
"The bank is part of the wider share holdings of Vladimir Antonov, but is in a different group of companies that operates entirely separately from our parent company, CSI, and the club.

"As such, the circumstances of Snoras Bank have no direct impact on our day-to-day operations, which carry on as normal."
In February 2010, Portsmouth became the first Premier League club to be placed into administration and CSI completed their takeover of the Championship-side in June 2011.

And leading football finance expert Guy Thomas says the news could have a negative effect at Fratton Park until the situation is resolved.
"On the face of it, this is not directly bad news for Pompey or even its immediate owner CSI," Thomas of Taylor Walton LLP, told BBC Sport.
"But whilst any uncertainty hangs over the future of this Lithuanian Bank - and by implication Antonov - then it will hardly be an atmosphere in which Antonov will be keen to either focus on the club or push through any plans - via CSI - to improve the club's future outlook."

Just to add...6 days later Antonov was arrested...http://www.bbc.co.uk/news/uk-england-hampshire-15882620
Then a few months later administration came...http://www.bbc.co.uk/sport/0/football/16943651

There are a few parallels in the two situations to my, financially, untrained eye.

[Sergey]

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Posted this to the PM board. Not suggesting this could happen across the road but it does make interesting reading for now...




Funny you mention that Sergey, the following from 2011 reads as a carbon copy of HoMoFC's latest drivel statement...

http://www.bbc.co.uk/sport/0/football/15792023



Just to add...6 days later Antonov was arrested...http://www.bbc.co.uk/news/uk-england-hampshire-15882620
Then a few months later administration came...http://www.bbc.co.uk/sport/0/football/16943651

There are a few parallels in the two situations to my, financially, untrained eye.

To my well honed Lithuanian financial eye - the Bankas Snoras scandal is a carbon copy of the Ukio Bankas ruse.

If the Lithuanian authorities (back then under a more liberal government) can put an EPL club into administration, then there's little doubt that a tin-pot Scottish club will go the same way, certainly under a new authoritarian government who are attempting to cleanse their financial marketplace for future inward investment.

[greenginger]

http://www.scotsman.com/sport/footba...kely-1-2796683

Things sounding a lot less confident around the Pink Palace. Mind you this is the Scotsman and they still state half way through the article that UBIG is the parent company of the Ukio Bankas.

[M6hibee]

are they no bliddy deid yet? lots of conjecture here, hope they are really in the stooshie and dont wriggle oot

[Caversham Green]

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http://www.scotsman.com/sport/footba...kely-1-2796683

Things sounding a lot less confident around the Pink Palace. Mind you this is the Scotsman and they still state half way through the article that UBIG is the parent company of the Ukio Bankas.

If that was true the Yams would already be in line for an 18 point deduction. Rule A6.12 says:

For the purposes of Rules A6.8 to A6.10 (inclusive) all references to a Club taking, suffering or being subject to an Insolvency Event and/or an Insolvency Process as well as including the owner and operator of a Club taking, suffering or being subject to an Insolvency Event and/or an Insolvency Process shall, if the Board so determines having regard to (i) the need to protect the integrity and continuity of the League; (ii) the reputation of the League; and (iii) the relationship between such owner and operator and the Group Undertaking concerned, also include any Group Undertaking of such an owner and operator taking, suffering or being subject to an Insolvency Event and/or an Insolvency Process.

According to the Scotsman Ukio is a group undertaking and Fedotovas has admitted that HoMFC has debt and banking arrangements with them, so the SPL should at least be examining the relationship.

Of course, if UBIG suffer an insolvency event HoMFC will suffer the points deduction, and rightly so. According to 'Mr Romanov', HoMFC have benfitted from their membership of the UBIG group to the tune of £60m and that will undoubtedly have contributed to UBIG's demise if they go bust. In the context of Scottish football £60m is an enormous amount - 15 years turnover for some SPL clubs - and HoMFC almost certainly gained several league places and two trophies as a result. The rules are clear and this is precisely why they are in place: HoMFC have had the benefits and they should now suffer the consequences.

[Part/Time Supporter]

Proposed buyer of Ukio Bankas assets has pulled out

http://vz.lt/article/2013/2/18/dnb-t...imo-operacijos

[Fat Penlon]

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If that was true the Yams would already be in line for an 18 point deduction. Rule A6.12 says:


According to the Scotsman Ukio is a group undertaking and Fedotovas has admitted that HoMFC has debt and banking arrangements with them, so the SPL should at least be examining the relationship.

Of course, if UBIG suffer an insolvency event HoMFC will suffer the points deduction, and rightly so. According to 'Mr Romanov', HoMFC have benfitted from their membership of the UBIG group to the tune of £60m and that will undoubtedly have contributed to UBIG's demise if they go bust. In the context of Scottish football £60m is an enormous amount - 15 years turnover for some SPL clubs - and HoMFC almost certainly gained several league places and two trophies as a result. The rules are clear and this is precisely why they are in place: HoMFC have had the benefits and they should now suffer the consequences.

I always thought Romanov himself was the major shareholder rather than UBIG?

[Caversham Green]

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I always thought Romanov himself was the major shareholder rather than UBIG?

No, UBIG own 116,025,847 shares, Vlad doesn't own any.

[Lix]

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No, UBIG own 116,025,847 shares, Vlad doesn't own any.

Did that change recently?

The info I could see (which has now gone) showed Vlad himself owning the shares and UBIG had some but sold the last of them about a year ago from memory (when it appeared to need the cash as wages weren't getting paid in Gorgie....)

sorry I thought you meant in Ukio.... I see further down this thread you mean Hearts.

[greenginger]

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No, UBIG own 116,025,847 shares, Vlad doesn't own any.

I take it that is the football club with the UBIG share holding and it is /was the Ukio Bankas that Vlad holds the shares in.

Just making it clear in case any sports journos are trying to understand the situation by following Hibs.Net.