Share Transfers Agreed/Cooling off period

[Treadstone]

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A property tycoon........hmmm?

If this (a big IF as it is the Sun) is true, I can only see this as being bad news for Hearts! Someone can smell a huge profit in the land that the piggery sits upon....Vultures are already circling to feed on the carcass of HoMFC

Even the brokebackers are dubious. I'm guessing that it must have been someone close to the property tycoon or Valnetas UAB who told 'The Sun'!

[Jim44]

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Let us pray.

Vultures? Maybe that should be 'let us prey' then. :-)

[Craig_in_Prague]

This is going to be one splendid spring/summer me thinks.

[greenpaper55]

The American wants to swoop as he is keen to keep paying Hearts ongoing tax bill and also to share in the huge profits to be made from them !, cobblers . What's to stop someone putting this story out to try and force the price of the tin shack up ?.

[Hibby Kay-Yay]

Mickey Forrester...American property tycoon???

Are you guys serious?

Nothing can happen to Hearts just now as long as UBIG still holds ownership (if that is the case?)

[bingo70]

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Mickey Forrester...American property tycoon???

Are you guys serious?

Nothing can happen to Hearts just now as long as UBIG still holds ownership (if that is the case?)

What if that article in the herald was right yesterday and ukios actually own them, can they be sold then?

[matty_f]

There's a huge 'if' in that article. I would be hugely surprised if anyone thought Scottish football was a way to make a quick buck ( Sevco excluded).

[bighairyfaeleith]

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What if that article in the herald was right yesterday and ukios actually own them, can they be sold then?

if the article is right then hearts should be deducted 18 points immediately

[greenginger]

Just had a look over on kickback and no mention of any Orc receiving their Hearts Accounts

Surely one of them must have a postal address or does the whole Royal Mail shut up shop on holiday weekends.

[HIBERNIAN-0762]

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Mickey Forrester...American property tycoon???

Are you guys serious?

Nothing can happen to Hearts just now as long as UBIG still holds ownership (if that is the case?)

They are already claiming this guy is the white knight

Whoa there boy! who is he? have you ever heard of him? what are his assets? what are his motives for this? property tycoon? must mean Tesco's will be getting the land sooner than they thought.

Pathetic and I mean really pathetic, one crook out another one comes in, Yam class as usual

[Hibby Kay-Yay]

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Just had a look over on kickback and no mention of any Orc receiving their Hearts Accounts

Surely one of them must have a postal address or does the whole Royal Mail shut up shop on holiday weekends.

My wife's a shareholder so I'm also keen to see them...still waiting too

[bingo70]

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if the article is right then hearts should be deducted 18 points immediately

Aye, mikey has told us enough times :-)

Just wondered if they'd be able to be sold though?

[HUTCHYHIBBY]

If the American tycoon thing is true then from a football point of view he is surely being linked with the wrong Edinburgh club. A wee shopping mall would look quite good down Gorgie way though!

[Gus Fring]

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Aye, mikey has told us enough times :-)

Just wondered if they'd be able to be sold though?

I believe so, yes, but given they would almost certainly be in division 1 they would be an even less desireable purchase

The Yam's really will just believe whatever they want.

Last week The Sun said they were going into administration and they were calling it a rag of a paper, no truth, check their sources etc

Today The Sun says some American tycoon is buying them and they are taking it as gospel.

Mind you. Brokeback? Cowboys?

[Aldo]

I must be being stupid cos I can't find anything bout this property tycoon.

Sorry having a bad morning.

[Gus Fring]

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I must be being stupid cos I can't find anything bout this property tycoon.

Sorry having a bad morning.

http://www.thescottishsun.co.uk/scot...ambos-bid.html

[greenginger]

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My wife's a shareholder so I'm also keen to see them...still waiting too

Apologies to your wife for referring to her as an Orc ! There are always exceptions to a rule.

[greenpaper55]

They think it might be Donald Trump i kid you not , i think they are Donald Ducked !.

[Mikey]

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if the article is right then hearts should be deducted 18 points immediately

Correct. The administrator has stated that Ukio Bankas has a claim on 79% of Hearts shares and the last time I looked 79% was enough to confirm ownership.

I'll keep this simple so any passing Jambos, and Barry, can understand it.

The SPL Rules are clear about this............

A6.8 Where a Club which was a member of the League in the immediately preceding Season takes, suffers or is subject to an Insolvency Event that Club shall be deducted the greater of 10 points and one third, rounded up to the nearest whole number, of the total number of points, excluding any points deducted for any reason, gained by that Club in the League in the immediately preceding Season and where a Club which was not a member of the League in the immediately preceding Season takes, suffers or is subject to an Insolvency Event that Club shall be deducted 10 points. Where the Insolvency Event occurs during a Season, the requisite points deduction shall apply immediately. Where the Insolvency Event occurs during the Close Season the requisite points deduction shall apply in respect of the immediately following Season, such that the Club starts that immediately following Season on minus the requisite number of points.

A6.9 Where an Insolvency Event or in the event that such Insolvency Event is part of an Insolvency Process that process, continues and/or is subsisting for more than one Season then, for each such Season, during the whole or part of which such Insolvency Event or Insolvency Process is continuing and/or subsisting, the Club concerned shall be deducted 10 points and shall start each such Season on minus 10 points.

A6.10 In the event that a Club shall take, suffer or be subject to more than one Insolvency Event during any one Season and the immediately preceding Close Season, which, in the opinion of the Board, are not part of the same Insolvency Process, then that Club shall be deducted the requisite number of points determined in accordance with Rule A6.8 in respect of each separate such Insolvency Event.

A6.12 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.


Taken from here.....

http://www.scotprem.com/content/medi...BER%202012.pdf

They should have had the 18 point deduction already. I really don't see how they can avoid it once the 10 day appeal period is up.

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Aye, mikey has told us enough times :-)

Just in case you missed it

[#FromTheCapital]

Can't understand why anyone who doesn't have a connection to hearts would want to buy them, they are a shambles. If you were looking to buy a football club and were actually serious about it then surely you would avoid hearts like the plague

[Mikey]

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Can't understand why anyone who doesn't have a connection to hearts would want to buy them, they are a shambles. If you were looking to buy a football club and were actually serious about it then surely you would avoid hearts like the plague

Correct. There's another club in Edinburgh that has very little debt, an up to date stadium and their own training facilities.

And the current owner wouldn't be difficult to deal with if the right person came along.

[Bostonhibby]

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They are already claiming this guy is the white knight

Whoa there boy! who is he? have you ever heard of him? what are his assets? what are his motives for this? property tycoon? must mean Tesco's will be getting the land sooner than they thought.

Pathetic and I mean really pathetic, one crook out another one comes in, Yam class as usual

Property tycoon? Bound to be declared a life long Yam soon.handy he is in the property game though, the £51m megasuperhotelstadium must be back on and maybe 2018 is the Champions league date? Christ they might even win another war. The clue might lie in property "tycoon". Maybe he's always wanted a debt ridden cash drain with all the other stigma that goes with this shower, not as if there are any other more viable clubs he could buy if he really wanted one, if indeed he exists!

[Cabbage East]

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Correct. There's another club in Edinburgh that has very little debt, an up to date stadium and their own training facilities.

And the current owner wouldn't be difficult to deal with if the right person came along.

Bitter, bitter hobo.

5-1

1902

[Mikey]

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Bitter, bitter hobo.

5-1

1902

You forgot -18

[Newry Hibs]

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Correct. The administrator has stated that Ukio Bankas has a claim on 79% of Hearts shares and the last time I looked 79% was enough to confirm ownership.

I'll keep this simple so any passing Jambos, and Barry, can understand it.

The SPL Rules are clear about this............

...
A6.12 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.


Taken from here.....

http://www.scotprem.com/content/medi...BER%202012.pdf

They should have had the 18 point deduction already. I really don't see how they can avoid it once the 10 day appeal period is up.





Just in case you missed it

What about the ' if the Board so determines ' above? What if 'they' don't determine it? Who are 'they'?

[Gus Fring]

Barry Anderson @BarryAnderson_

Sergejus Fedotovas tells #Hearts fans £15m debt to Ukio won't be recalled right now & answers other finance questions in today's #EEN.

#HMFC9:11 AM - 7 May 2013


I'd love to sit in on these conversations,

BA: "Awrite Serg, it's Barry is all still barry"
SF: "Yes, all is Barry Barry"
BA: "That's Barry"

[Aldo]

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http://www.thescottishsun.co.uk/scot...ambos-bid.html

Sorry saw that article I think I meant the guy himself. Phone playing silly beggars.

Cheers again

[Not In The Know]

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Correct. The administrator has stated that Ukio Bankas has a claim on 79% of Hearts shares and the last time I looked 79% was enough to confirm ownership.

I'll keep this simple so any passing Jambos, and Barry, can understand it.

The SPL Rules are clear about this............

A6.8 Where a Club which was a member of the League in the immediately preceding Season takes, suffers or is subject to an Insolvency Event that Club shall be deducted the greater of 10 points and one third, rounded up to the nearest whole number, of the total number of points, excluding any points deducted for any reason, gained by that Club in the League in the immediately preceding Season and where a Club which was not a member of the League in the immediately preceding Season takes, suffers or is subject to an Insolvency Event that Club shall be deducted 10 points. Where the Insolvency Event occurs during a Season, the requisite points deduction shall apply immediately. Where the Insolvency Event occurs during the Close Season the requisite points deduction shall apply in respect of the immediately following Season, such that the Club starts that immediately following Season on minus the requisite number of points.

A6.9 Where an Insolvency Event or in the event that such Insolvency Event is part of an Insolvency Process that process, continues and/or is subsisting for more than one Season then, for each such Season, during the whole or part of which such Insolvency Event or Insolvency Process is continuing and/or subsisting, the Club concerned shall be deducted 10 points and shall start each such Season on minus 10 points.

A6.10 In the event that a Club shall take, suffer or be subject to more than one Insolvency Event during any one Season and the immediately preceding Close Season, which, in the opinion of the Board, are not part of the same Insolvency Process, then that Club shall be deducted the requisite number of points determined in accordance with Rule A6.8 in respect of each separate such Insolvency Event.

A6.12 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.


Taken from here.....

http://www.scotprem.com/content/medi...BER%202012.pdf

They should have had the 18 point deduction already. I really don't see how they can avoid it once the 10 day appeal period is up.





Just in case you missed it

Surely Dundee FC should be all over this?

[Danderhall Hibs]

Mikey- worth emailing the spl a copy of their rules along with a link to the herald article?

[kaimendhibs]

If I was involved with Dundee I would be in touch with the spl demanding answers as to why the 18 point penalty has not been applied!


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