Share Transfers Agreed/Cooling off period

[1two]

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When the council's director of development* commissions a £15K report and comes out with pish like this ...

http://www.heartsfc.co.uk/articles/2...241384_2508476

I wouldn't blame anyone for a bit of healthy paranoia!


* since departed under a scandalous repair bill cloud.

That article is disgusting

£15K??

[TrinityHibs]

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When the council's director of development* commissions a £15K report and comes out with pish like this ...

http://www.heartsfc.co.uk/articles/2...241384_2508476

I wouldn't blame anyone for a bit of healthy paranoia!


* since departed under a scandalous repair bill cloud.

I have had dealings with Dave Anderson and I always thought he was a fairly genuine guy. He certainly had no direct interest in Hertz and would have been as supportive of Hibs if circumstances required. He was the sacrificial lamb for the dodgy common repairs saga and was also teed up to be blamed for the trams. Both scandals were off and running before he joined the Council. He was the figurehead so had to go. I am very confident that he would have had no idea that the council report on a potential new Wongadome was prepared by Hertz shareholder. There are other people within the Council who would have known and they are still doing what they do.

[monktonharp]

don't know much,and care even less about this Dave Anderson fella but do admire his last few lines when discussing the said report; "history shows that a failure to invest in a vision of future success, leads inexorably to decline and the need for even higher regeneration costs" he also adds; "the difficulties associated with Tynecasle, wont go away." wonder how this is being thought of,thesedays down Gorgie way.

[Phil D. Rolls]

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When the council's director of development* commissions a £15K report and comes out with pish like this ...

http://www.heartsfc.co.uk/articles/2...241384_2508476

I wouldn't blame anyone for a bit of healthy paranoia!


* since departed under a scandalous repair bill cloud.

Institutionalised Yamfuddery. You can hardly blame the Yam on the Street for believing they are the chosen ones.

They have been taught to never question authority, and when the likes of Mr. Anderson (respectful doff of forelock) comes out with stuff like this, they move a few more light years from reality.

He is a man who knows what he is doing, he wouldn't say things like that if it wasn't true. Baa four legs good, two legs bad etc.

Tbh, there reality and ours are becoming so distant from each other, I'm starting to fear that there is a Shutter Island type finale to all this, where it turns out it is actually us that is mad.

[Treadstone]

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I have had dealings with Dave Anderson and I always thought he was a fairly genuine guy. He certainly had no direct interest in Hertz and would have been as supportive of Hibs if circumstances required. He was the sacrificial lamb for the dodgy common repairs saga and was also teed up to be blamed for the trams. Both scandals were off and running before he joined the Council. He was the figurehead so had to go. I am very confident that he would have had no idea that the council report on a potential new Wongadome was prepared by Hertz shareholder. There are other people within the Council who would have known and they are still doing what they do.

As the 'figurehead' his position was untenable, incompetent that he let it carry on or had no idea it was going on.

I was one of those stung and asked at the time for an explanation from the council. Ignorance doesn't really cut it for me. No offence.

[Phil D. Rolls]

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As the 'figurehead' his position was untenable, incompetent that he let it carry on or had no idea it was going on.

I was one of those stung and asked at the time for an explanation from the council. Ignorance doesn't really cut it for me. No offence.

A big boy did it and ran away.

[jdships]

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I have had dealings with Dave Anderson and I always thought he was a fairly genuine guy. He certainly had no direct interest in Hertz and would have been as supportive of Hibs if circumstances required. He was the sacrificial lamb for the dodgy common repairs saga and was also teed up to be blamed for the trams. Both scandals were off and running before he joined the Council. He was the figurehead so had to go. I am very confident that he would have had no idea that the council report on a potential new Wongadome was prepared by Hertz shareholder. There are other people within the Council who would have known and they are still doing what they do.

Was the same Dave Anderson not suspended by the Council in June 2012

One of Edinburgh City Council's senior directors has been suspended as part of an investigation into the authority's property repairs service.

http://www.bbc.co.uk/news/uk-scotlan...-fife-18422851

I too have " had dealings" with him and was not impressed . Came accross as a real " Company Man"
That of course is only my opinion

[Sanger]

More to the point when are the Lithuanian court going to throw out Ukio Bankas's appeal against their bankruptcy and declare UBIG insolvent? Let's get this party going again!

[Springbank]

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A big boy did it and ran away.

Ahh FR you've gone and cracked open the Brookmyre!

I'll have to re-post his epic and hugely entertaining short story on "the rules of playground football". Brilliant!

[Springbank]

Genius

http://www.brookmyre.co.uk/extras/sh...round-football

[Dashing Bob S]

Have they gone yet?

[pontius pilate]

On keekback there is a couple over there stating they could be going into admin in the next couple of weeks that's why they are trying to get new players in now before the inevitable happens.

Please god be true

[dangermouse]

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On keekback there is a couple over there stating they could be going into admin in the next couple of weeks that's why they are trying to get new players in now before the inevitable happens.

Please god be true

And if they did go into admin all these new signings would be binned leaving them with a bunch of kids barely out of nappies to bravely soldier on in the name of HOMOFC

[greenginger]

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And if they did go into admin all these new signings would be binned leaving them with a bunch of kids barely out of nappies to bravely soldier on in the name of HOMOFC

Not if Duff and Phelps are appointed, or anyone else who understands they are an Institution.

[Keith_M]

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On keekback there is a couple over there stating they could be going into admin in the next couple of weeks that's why they are trying to get new players in now before the inevitable happens.

Please god be true

Maybe I'm being a bit thick (as usual) but I don't actually see the logic in that.

[SmithyHibee]

Someone over there had posted a link to an article about the Scandanavian Viking Gods that are supposed to be saving them. The article was about how they had apparently set up a sponsorship for a Norwegian club with AG Barr (Irn Bru). It turned out that Barrs actually knew nothing about the deal and the whole thing was pretty much a scam!

Needless to say it was suitably ignored by them all #allisbarry

[Saorsa]

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Someone over there had posted a link to an article about the Scandanavian Viking Gods that are supposed to be saving them. The article was about how they had apparently set up a sponsorship for a Norwegian club with AG Barr (Irn Bru). It turned out that Barrs actually knew nothing about the deal and the whole thing was pretty much a scam!

Needless to say it was suitably ignored by them all #allisbarry

Just the people tae get involved with grubby little club then. Then we can have some more hat kicking when it goes pear shaped

[pontius pilate]

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Maybe I'm being a bit thick (as usual) but I don't actually see the logic in that.

Maybe they will get hit with a transfer ban. I reckon if they get them on loan then they will not be responsible for the players wages.

I could be very wrong though.

[MSK]

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Just the people tae get involved with grubby little club then. Then we can have some more hat kicking when it goes pear shaped

Aw **** ... ....

[Keith_M]

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Maybe they will get hit with a transfer ban. I reckon if they get them on loan then they will not be responsible for the players wages.

I could be very wrong though.

Oh, I see, got you. So they need to get players in ASAP or they might have no players at all.

[The Leith Dutch]

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Maybe I'm being a bit thick (as usual) but I don't actually see the logic in that.

In addition - and maybe some of our resident experts on liquidation matters could give us a better idea - I'd imagine that as galling a prospect as it is they (unlike the govan cave dwellers) are more likely to secure a CVA.

Wouldn't that mean any debts accrued now - such as money used to finance a transfer - would be paid out at pennies in the pound rather than the whole amount?

[CropleyWasGod]

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In addition - and maybe some of our resident experts on liquidation matters could give us a better idea - I'd imagine that as galling a prospect as it is they (unlike the govan cave dwellers) are more likely to secure a CVA.

Wouldn't that mean any debts accrued now - such as money used to finance a transfer - would be paid out at pennies in the pound rather than the whole amount?

I think a CVA is much less likely than it was with Rangers.

Take UKIO out of the picture, as they are a secured creditor and don't get a vote in a CVA. That leaves UBIG as largest creditor, if indeed their debt is unsecured (and that seems to be still unclear). If it it's not, take them out out, and HMRC will be next largest; they will vote against a CVA.

Let's assume, though, that UBIG are unsecured and that they vote for a CVA. What assets are there to be divided amongst the creditors? Remember that the first £15m of the stadium sale goes to UKIO.

[hibeesdude]

Have the definitely honest guv getting sent out in feb/march/apr/may shares been registered at companies house yet?

[Bostonhibby]

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Have the definitely honest guv getting sent out in feb/march/apr/may shares been registered at companies house yet?

allisbarry, they have sorted it all out just like he said, but to keep costs down they have just issued one massive £800k share in the Chairman's name for safe keeping, all big clubs do it this way. He is going to do the same with the season ticket money as well, just to keep it simple.

[Treadstone]

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On keekback there is a couple over there stating they could be going into admin in the next couple of weeks that's why they are trying to get new players in now before the inevitable happens.

Please god be true

Bit different from the plum in the EEN comments calling himself 'The Source' and saying that the Norwegians would tie the deal up by Wednesday (29th). They were all clinging on to that one like a lifeboat leaving the .

[The Leith Dutch]

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I think a CVA is much less likely than it was with Rangers.

That's put a big grin on my face :D

[Winston Ingram]

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Maybe I'm being a bit thick (as usual) but I don't actually see the logic in that.

This is Hearts. When did logic come in to it?

Cheating, financial doping maybe, never logic

[Bostonhibby]

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Bit different from the plum in the EEN comments calling himself 'The Source' and saying that the Norwegians would tie the deal up by Wednesday (29th). They were all clinging on to that one like a lifeboat leaving the .

Seen that one, it will probably be explained away as a typing error since everyone knows that it will be the 39th that they are going to be saved, that's when the megasuperhotelstadium was going to be buitd and the shares issued. allisbarry its just that the likes of us don't understand how big teams work.

If it all goes wrong they are planning to finally take to the streets and do something to save their club, the mass protest by the 400,000 is planned for the 39th, so long as it isn't raining and there isn't any snooker on the telly. 399,999 if its an evening job as wee shaun lawson's ma won't let him out at night.

[Treadstone]

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Seen that one, it will probably be explained away as a typing error since everyone knows that it will be the 39th that they are going to be saved, that's when the megasuperhotelstadium was going to be buitd and the shares issued. allisbarry its just that the likes of us don't understand how big teams work.

If it all goes wrong they are planning to finally take to the streets and do something to save their club, the mass protest by the 400,000 is planned for the 39th, so long as it isn't raining and there isn't any snooker on the telly. 399,999 if its an evening job as wee shaun lawson's ma won't let him out at night.

'Rolland' was positively creaming himself the next few stories after that one. If that turns out to be false 'The Sources' head might end up in Rollands freezer with the other heads.

[Caversham Green]

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I think a CVA is much less likely than it was with Rangers.

Take UKIO out of the picture, as they are a secured creditor and don't get a vote in a CVA. That leaves UBIG as largest creditor, if indeed their debt is unsecured (and that seems to be still unclear). If it it's not, take them out out, and HMRC will be next largest; they will vote against a CVA.

Let's assume, though, that UBIG are unsecured and that they vote for a CVA. What assets are there to be divided amongst the creditors? Remember that the first £10m of the stadium sale goes to UKIO.

It looks like they've already decided what would happen if they went into administration. Fedotovas said at the AGM that all shares would be cancelled (including the new ones that have been in the post for six months) - that would only happen with a liquidation, so it looks like they would intend to go down the Sevco route.

Theoretically they could manage a CVA though. Remember during the Rangers fiasco the original CVA proposal was for Sevco to lend RFC £8.5m to go into the creditors pot. They could find a Scandinavian or Italian version of Charles Green (my money would be on Carlos Verdi btw) to do the same sort of thing here. It would mean the £15m debt due to Ukio would be untouched though, and for that reason it's probably a non-starter.