Share Transfers Agreed/Cooling off period

[Mikey]

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Is it not the case that this "deal" is dependent on them keeping up to date with their current PAYE and VAT payments?

I seem to recall that if they are late with any of these then the "deal" becomes null and void and that the outstanding amount becomes due immediately.

[EdinMike]

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Is it not the case that this "deal" is dependent on them keeping up to date with their current PAYE and VAT payments?

I seem to recall that if they are late with any of these then the "deal" becomes null and void and that the outstanding amount becomes due immediately.

Ahh you're right, well remembered ! If I eat Yams does my memory get better ?!

[HibeeMG]

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Ahh you're right, well remembered ! If I eat Yams does my memory get better ?!

Well, in that case, I assume some "deferred" wages will be in order to meet PAYE payment day.

[Bostonhibby]

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http://www.bloomberg.com/news/2013-0...y-payouts.html

Bloomberg saying the same thing.

Now will the Yams be considered a bad ass. or a good ass. ?

Jackasses, every one of them

[Caversham Green]

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What you really describe Cav is a differently owned version of us then, except with a few cups and some rollercoaster times in the bag. Surely it's got to be worse for them than that.

Not really, we've never languished in the second tier in my lifetime - unlike them we've always made it out again after 1 season, and that's the very best they can hope for IMO. However, I think a future where Hibernian are the predominant team in Edinburgh is almost certain - the extent of the dominance is to do with Hibs rather than Hearts.

I'm seeing their situation now as similar to ours in 1990 - their existence is undoubtedly in the balance and they have virtually no chance of coming out the other end as any real force in Scottish football for at least a decade. Meanwhile I think Hibs have to make the most of this opportunity to become the true third force in Scottish football - sadly, Rangers will inevitably be the second in due course.

[ancient hibee]

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274,643,600.00 British Pound Sterling!


That's a lot of muffins.

It's interesting if the administrator states that the Ukios Bank liabilities exceed its assets by the above amount because of course a banks liabilities are in fact its deposits(repayable to customers)and its assets are its loans(repayable by its customers).It would seem that all is not what it seems-not surprising.

[Hibeesforever]

Wow, what a day, I have just realised that pretty much every scenario means tough times for Heart of Midlothian.
Of course the big expenditures definitely out there are :
Main stand compliance costs
Debt rollover or forgiveness
HMRC payments
Sale value of Vlads shares

Hearts supporters seem comfortable that everything is "Barry" but I struggle, due to current circumstances in Lithuania, to see how the shear weight and size of the numbers involved versus the businesses turnover could result in anything other than inevitable liquidation!!!!
Nothing on here makes me think otherwise.

[Kato]

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My understanding is Hearts dont fall into any of those catagories, infacr as far as i know dont mean diddly at the moment. What we need to know is if UBIG is a bad or good part? it is only if/when UBIG hit the rocks will it have a direct impact to hearts. At least thats my understanding

They're the UBIG team after all. No matter UBIG, Hearts - they owe it to themselves. Given the rhetoric concerning Rooomanov's "vanity projects" over the last week I reckon they might edge into "bad" category somehow.

[Thecat23]

The way I see it, we have couple hundred pages and lets be honest no one is wiser to the state of Hearts. I personally think they will come through this now. I've never met a luckier club than them. Always come out smelling of roses. They will get a buyer the debt will end up written off and they will be back to normal but working with a lower wage but prob still enough to attract better players than the rest. Love to be proved wrong though.

[lucky]

How are functioning? If there banks a goner then they will have to transfer to a new bank other wise nothing will get paid. I doubt any bank will give them facilities. Surely not long now.

[Ozyhibby]

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How are functioning? If there banks a goner then they will have to transfer to a new bank other wise nothing will get paid. I doubt any bank will give them facilities. Surely not long now.

Unless Ubig are managing to service their debt to Ukio then I imagine they will be put into admin in the next few days. Automatic 18 point deduction for the Yams.

[lord bunberry]

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How are functioning? If there banks a goner then they will have to transfer to a new bank other wise nothing will get paid. I doubt any bank will give them facilities. Surely not long now.

i think they have an account with the bank of scotland as well

[Bostonhibby]

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i think they have an account with the bank of scotland as well

Same one that (allegedly) helped with the inconvenient matter of financial backing for Whalearse's venture all those years ago (lest we forget).

[Geo_1875]

Does anyone know if they actually paid wages this month? I've heard heehaw either way.

[Peevemor]

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Same one that (allegedly) helped with the inconvenient matter of financial backing for Whalearse's venture all those years ago (lest we forget).

They were also Hibs bankers and were very supportive of the club.

[greenginger]

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Does anyone know if they actually paid wages this month? I've heard heehaw either way.

There was Banderson's tweet last Friday that the wages had been paid in full, but also the remark by McGoo on Saturday that Serjey had been in the Hearts dressing room before the game v's Killie to thank the players for taking a wage deferral.
Banderson would print anything he was told from the Pink Palace and it was never clarified if the deferral was the one back in December or a new one.

So, none the wiser.

[Malthibby]

Let's not get ourselves frazled - there is nothing to suggest there is anything other than bad news coming for our dear pink friends.
I want them to feel the pain for the last few years & i fully expect to get the pleasure of feeling tht pain.
They are a slow-motion version of the Titanic; the damage is done & no amount of deck chair shuffling is going to keep them afloat.
They are going down.
GG

[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.

[Ozyhibby]

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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.

A housebuilder would buy and happily bank the land for ten years if need be. By then, it would be just another gap site that the city would be desperate to be developed. Market conditions would likely have improved by then as well.
Don't kid your self that this is not desirable land. 6 acres (more if you add the school) close to the city centre.
There will be more than a few interested parties.

[lord bunberry]

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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.

I disagree i think the pbs is prime real estate. Cala were prepared to pay upwards of 20m for it 5 years ago so its still going to be worth a few quid now. I would imagine if a property developer were to buy it they would just flatten it and wait till the market picks up before building on the site, this would also allow any tensions with the fans to die down

[crewetollhibee]

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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.

This has been my thoughts too. The other factor (from a developer's point of view), is that no Yams would consider buying a place there. P.S maybe a good few of us would think twice too !!

[CentreLine]

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This has been my thoughts too. The other factor (from a developer's point of view), is that no Yams would consider buying a place there. P.S maybe a good few of us would think twice too !!

I think the reverse might be true. Lots of hahahahearts fans might want a home there precicely because its on or close to their favourite spot where the stadium used to stand. It could be a great selling point rather than a hinderence. Imagine we had gone belly up in 1990 I think a lot of us might have been tempted for auld times sake

[s.a.m]

Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

[Benny Brazil]

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Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

Its a start........dare I say .................Tick Tock?

[Spike Mandela]

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Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

May? No **** Mr Bloomberg

[s.a.m]

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Its a start........dare I say .................Tick Tock?

Not sure it's based on any new info, to be honest, but it's nice to see it dawning on media sorts that Vlad's empire imploding may have awkward implications for Hearts.

[Part/Time Supporter]

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Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

He's taking it from this article.

http://www.bloomberg.com/news/2013-0...y-payouts.html

The central bank said yesterday it plans to sell Ukio’s assets and liabilities to Siauliu Bankas AB, reducing the obligations for the deposit insurer to an estimated 800 million litai.

The deposit insurance fund would seek to recover its money over time through bankruptcy proceedings for the “bad” part of Ukio’s assets that won’t be taken over by Siauliu, according to Sadzius. “This really is the best of the alternatives we had,” he said.

The PBS has been pledged as security against some of the bad assets (loans by Ukio to UBIG).

[Hibeesforever]

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Not sure it's based on any new info, to be honest, but it's nice to see it dawning on media sorts that Vlad's empire imploding may have awkward implications for Hearts.

Yes, I woke up this morning to the radio reporter interviewing a banking expert gentleman from Lithuania who said it was very unclear who owed who and what but was certain Ukio Banks held some form of loan security over Tynecastle.

Spring in my step going to work since that means only two things- Full loan has to be honoured or an end if season immediate repayment order because the bank have no funds to roll the lending over.

I must take a moment now because in the absense of any investor with about £35 million arriving in Edinburgh, two outcomes are evident. A 25 year repayment plan ? Or immediate/ end of season administration.

Good luck to Hearts in the cup final, it could be a very long time before they return to challenge the professional ranks again!

[hibsbollah]

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Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

The big hoose will stay open the big hoose will stay open the big hoose will stay open (repeat to fade)....

[EuanH78]

If a builder takes over the plot to build flats, will they seek suggestions for street names?

I suggest 'Saville Row'