Share Transfers Agreed/Cooling off period

[Part/Time Supporter]

This quote is hidden because you are ignoring this member. Show Quote

News item inferring Hearts are a "bad asset" and that bankruptcy will ensue.

http://www.15min.lt/en/article/busin...tcy-527-310301

The temporary administrator told BNS later that the 'bad' part of Ūkio Bankas was valued between 400 million and 500 million litas (EUR 116-145m).

"Ūkio Bankas' bad assets are very risky. These include properties in Russia and Scotland. The recovery of these assets could be more difficult," he said at the news conference.

Of course, "properties in Scotland" doesn't just mean Hearts. It also includes those buildings in St Andrews Sq that he bought near the top of the market.

http://www.bbc.co.uk/news/uk-scotlan...iness-16490988

[Dashing Bob S]

This quote is hidden because you are ignoring this member. Show Quote

Nothing against them and want to see this rivalry continue - albeit on a level playing field.



FINISH 'EM OFF!!!

[bingo70]

This quote is hidden because you are ignoring this member. Show Quote

Of course, "properties in Scotland" doesn't just mean Hearts. It also includes those buildings in St Andrews Sq that he bought near the top of the market.

http://www.bbc.co.uk/news/uk-scotlan...iness-16490988

Is it not far more likely to be hearts though?

That property will eventually be worth something again once the property market picks up again but hearts are always going to be *****?

[Part/Time Supporter]

This quote is hidden because you are ignoring this member. Show Quote

Is it not far more likely to be hearts though?

That property will eventually be worth something again once the property market picks up again but hearts are always going to be *****?

Both.

[hibs0666]

This quote is hidden because you are ignoring this member. Show Quote

Of course, "properties in Scotland" doesn't just mean Hearts. It also includes those buildings in St Andrews Sq that he bought near the top of the market.

http://www.bbc.co.uk/news/uk-scotlan...iness-16490988

I'm sure that the yaks will be included in the bad stuff. Anyone seeking to buy them will have to find:

• more cash than any property developer would be willing to pay (£3 million say?)
• a few million in working capital to keep it going (£2 million say?)
• £5 million for a new stand.

So, all they need to do is find someone with £10 million to ***** away with no hope of ever getting a return on that money. Best of luck with that.

[livi hibs 1875]

This quote is hidden because you are ignoring this member. Show Quote

I'm sure that the yaks will be included in the bad stuff. Anyone seeking to buy them will have to find:

• more cash than any property developer would be willing to pay (£3 million say?)
• a few million in working capital to keep it going (£2 million say?)
• £5 million for a new stand.

So, all they need to do is find someone with £10 million to ***** away with no hope of ever getting a return on that money. Best of luck with that.

Why only that much ..will they not look for some of there other money that they are out of pocket

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

Why only that much ..will they not look for some of there other money that they are out of pocket

They might look for it but, in this situation, they will take as much as they can get.

Sales like this become a buyer's market.

[livi hibs 1875]

This quote is hidden because you are ignoring this member. Show Quote

They might look for it but, in this situation, they will take as much as they can get.

Sales like this become a buyer's market.

If its that easy why dont we run up debts of 70/80 million (equity swap) .then . No mention of admin or bankruptsy. 10 million is peanuts fot how much these smelly ****s have cheated over the last 10 years .my opion ofcourse .hate those unwashed tramps

[Jack Hackett]

This quote is hidden because you are ignoring this member. Show Quote

They might look for it but, in this situation, they will take as much as they can get.

Sales like this become a buyer's market.

Cue FoH raising their bid to 750k

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

If its that easy why dont we run up debts of 70/80 million (equity swap) .then . No mention of admin or bankruptsy. 10 million is peanuts fot how much these smelly ****s have cheated over the last 10 years .my opion ofcourse .hate those unwashed tramps

Two points:-

1. you will be hard pushed to find any lender who would allow a business to go that far. UKIO/UBIG were a special case, as they had a business model which required that investment, and had the funds to support it. It failed.

2. it doesn't matter whether someone pays £3m or £20m for Tynie. The company (HMFC) is insolvent, and any money raised will go to its creditors.

[livi hibs 1875]

This quote is hidden because you are ignoring this member. Show Quote

Two points:-

1. you will be hard pushed to find any lender who would allow a business to go that far. UKIO/UBIG were a special case, as they had a business model which required that investment, and had the funds to support it. It failed.

2. it doesn't matter whether someone pays £3m or £20m for Tynie. The company (HMFC) is insolvent, and any money raised will go to its creditors.

I understand those both points and agree with them .but they must also loose there poxy history and become a newco aswell then . That is what i was meaning possibly never said it correctly

[StevieC]

This quote is hidden because you are ignoring this member. Show Quote

I'm sure that the yaks will be included in the bad stuff. Anyone seeking to buy them will have to find:

• more cash than any property developer would be willing to pay (£3 million say?)
• a few million in working capital to keep it going (£2 million say?)
• £5 million for a new stand.

So, all they need to do is find someone with £10 million to ***** away with no hope of ever getting a return on that money. Best of luck with that.

Would they not also be buying a liquidated 3rd division team?

For them to avoid liquidation would they not also need to pay HMRC in full and at least some of the UBIG debt?

[livi hibs 1875]

This quote is hidden because you are ignoring this member. Show Quote

Would they not also be buying a liquidated 3rd division team?

For them to avoid liquidation would they not also need to pay HMRC in full and at least some of the UBIG debt?

This lol thanks

[HFC 0-7]

Not sure if this is at all possible, but a Hun told me he thought it was an option. Rangers buy hearts, debt and all, sell tynecastle change the name to rangers and be back in the spl. Obviously if they bought hearts debt and all, they would need to pay the debt back, but after selling off all of hearts assets the debt would be manageable for rangers and they would be back in the spl!

Again not sure if this could happen but would be interesting

[Part/Time Supporter]

This quote is hidden because you are ignoring this member. Show Quote

Not sure if this is at all possible, but a Hun told me he thought it was an option. Rangers buy hearts, debt and all, sell tynecastle change the name to rangers and be back in the spl. Obviously if they bought hearts debt and all, they would need to pay the debt back, but after selling off all of hearts assets the debt would be manageable for rangers and they would be back in the spl!

Again not sure if this could happen but would be interesting

No, because they would need to get approval from the SFA to change the Hearts SFA membership to "Rangers". It was hard enough for them to get the "Rangers" SFA membership transferred from the dying company to Sevco.

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

Not sure if this is at all possible, but a Hun told me he thought it was an option. Rangers buy hearts, debt and all, sell tynecastle change the name to rangers and be back in the spl. Obviously if they bought hearts debt and all, they would need to pay the debt back, but after selling off all of hearts assets the debt would be manageable for rangers and they would be back in the spl!

Again not sure if this could happen but would be interesting

Where are RFC going to get £24m to pay off the debt, plus the cost of the stadium?

And what assets do Hearts have?

[Kato]

This quote is hidden because you are ignoring this member. Show Quote

Not sure if this is at all possible, but a Hun told me he thought it was an option. Rangers buy hearts, debt and all, sell tynecastle change the name to rangers and be back in the spl. Obviously if they bought hearts debt and all, they would need to pay the debt back, but after selling off all of hearts assets the debt would be manageable for rangers and they would be back in the spl!

Again not sure if this could happen but would be interesting

I heard something similar once but it involved a man called Rumplestiltskin and spinning thread into gold.

[jgl07]

This quote is hidden because you are ignoring this member. Show Quote

No, because they would need to get approval from the SFA to change the Hearts SFA membership to "Rangers". It was hard enough for them to get the "Rangers" SFA membership transferred from the dying company to Sevco.

Has the rule been changed since the Airdrie United/Clydebank affair?

[hibs0666]

The dominoes begin to topple...

Bankruptcy to be declared on Ukio Bankas bad assets

[bingo70]

This quote is hidden because you are ignoring this member. Show Quote

The dominoes begin to topple...

Bankruptcy to be declared on Ukio Bankas bad assets

So I'm maybe getting ahead of myself here but could hearts be made bankrupt tomorrow for example and then worry about the sale of tynecastle etc at a later date?

Is there a possibility hearts won't even see out the season or will this all take time to come to a head properly?

[lord bunberry]

This quote is hidden because you are ignoring this member. Show Quote

So I'm maybe getting ahead of myself here but could hearts be made bankrupt tomorrow for example and then worry about the sale of tynecastle etc at a later date?

Is there a possibility hearts won't even see out the season or will this all take time to come to a head properly?

Hearts don't have any direct link to ukio. They owe the money to ubig, if ubig are liquidated that's when the problems start for hearts

[Kato]

This quote is hidden because you are ignoring this member. Show Quote

So I'm maybe getting ahead of myself here but could hearts be made bankrupt tomorrow for example and then worry about the sale of tynecastle etc at a later date?

Don't be daft. Hearts are too big to fail. They won't be affected by the failure of Vlad's bank as its UBIG who owns Hearts although Hearts are a stand alone self-sufficient company these days.

[bingo70]

This quote is hidden because you are ignoring this member. Show Quote

Hearts don't have any direct link to ukio. They owe the money to ubig, if ubig are liquidated that's when the problems start for hearts

Yes I know that, but could ubig call it a day with hearts tomorrow and then sell the assets later?

[Bostonhibby]

This quote is hidden because you are ignoring this member. Show Quote

Don't be daft. Hearts are too big to fail. They won't be affected by the failure of Vlad's bank as its UBIG who owns Hearts although Hearts are a stand alone self-sufficient company these days.

They have all the cakes they can eat.

[SmashinGlass]

This quote is hidden because you are ignoring this member. Show Quote

Yes I know that, but could ubig call it a day with hearts tomorrow and then sell the assets later?

In theory, yes. However, in reality it would likely take longer. Unfortunately

[hibs0666]

This quote is hidden because you are ignoring this member. Show Quote

So I'm maybe getting ahead of myself here but could hearts be made bankrupt tomorrow for example and then worry about the sale of tynecastle etc at a later date?

Is there a possibility hearts won't even see out the season or will this all take time to come to a head properly?

I guess it will take a wee while to wash through the system. UBIG will be right in there amongst the bad bits, and will now be starved of any further capital. If UBIG is burning cash then the shutters would come down on UBIG very quickly if it cannot find any other sources of capital.

Since the security over tiny is held separately from UBIG I cannot see how UBIG can now sell the club easily and on the cheap, and so the yaks fate now goes hand-in-hand with that of UBIG.

Thing is, the geezer that runs the yaks is also a director of UBIG. If the yaks really wanted to know the fate of their club then the bloke that can provide the answers is sitting at tiny, except that those poor sods are terrified to ask the question.

[bingo70]

This quote is hidden because you are ignoring this member. Show Quote

In theory, yes. However, in reality it would likely take longer. Unfortunately

I'm just thinking there's probably someone sat in an office in Lithuania either at ukio or ubig that must be noticing there's a 2 bob football club in Edinburgh that owes them a fortune, has assets but losing them a fortune every day they're open.

If it was me looking at it the first thing I'd say is let's take any cash from them, close them down so they don't lose any more money then look to sell the assets.

Suppose I just don't understand why they'd keep them open for a day longer when they're only going ti lose more money?

[Treadstone]

This quote is hidden because you are ignoring this member. Show Quote

I'm just thinking there's probably someone sat in an office in Lithuania either at ukio or ubig that must be noticing there's a 2 bob football club in Edinburgh that owes them a fortune, has assets but losing them a fortune every day they're open.

Hope they are brighter than this guy on the Brokeback thread 'Bankruptcy':

jambosdad

There was always something funny about the sudden desperate call for funds to see us through the season.

[Kato]

http://www.scotsman.com/business/ban...bank-1-2807982

The above is yesterdays headline "Hearts assets will transfer to second Lithuanian bank" although there is nothing in the copy to say this will happen. Smells like waffle.

[Leithenhibby]

This quote is hidden because you are ignoring this member. Show Quote

http://www.scotsman.com/business/ban...bank-1-2807982

The above is yesterdays headline "Hearts assets will transfer to second Lithuanian bank" although there is nothing in the copy to say this will happen. Smells like waffle.

And it looks like a story stuck away in the corner of the page...

Not exactly an "Extra, Extra Read All About It" moment!..