Share Transfers Agreed/Cooling off period

[Jim44]

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As they have not paid all of this tax money will ( or can ) the SPL inflict another transfer ban or some such sanction

But going by their track record I would'nt think they will do anything

Technically they could impose some sort of sanction. But if the Jambo assertion that the shortfall will be paid within the permitted eight days, any sanction would then be lifted, it's unlikely that action will be taken. It remains however that, if the SPL/ SFA had a pair, they should take the bull by the horns and hammer them once and for all for the never-ending history of financial chaos. Surely bringing the game into disrepute isn't confined to conduct on the field of play.

[Pretty Boy]

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Yet they announce the 'signing' of Danny Slipup before he's actually signed, and gleefully leak to the media they are close to getting Boyd and Goodwillie.

Given Ian Murray MP is my (sadly) member of parliament I think I might email him to give prior warning of my non payment of council tax for next year - I've decided to implement the Hearts payment model and pay it over 3 years, only when I can be ersed, and in two pence pieces.

In said email you could also question why Mr Murray MP seems to spend so long working on what is ultimately a minority issue for his constituents.

[Sanger]

The decision to start the bankruptcy proceedings against AB Ukio Bankas has come into force
Ukio Bankas AB
Notification on material event

The decision to start the bankruptcy proceedings against AB Ukio Bankas has
come into force

Kaunas, Lithuania, 2013-06-12 09:42 CEST (GLOBE NEWSWIRE) -- We hereby inform
that on 7 June 2013 the Court of Appeal of Lithuania decided to leave unaltered
the decision of Kaunas Regional Court dated 2 May 2013 in the civil case No.
B2-1786-254/2013, according to which the bankruptcy proceedings against AB Ukio
Bankas were started. Accordingly, on 7 June 2013 the court decision to start
the bankruptcy proceedings has come into force. UAB "Valnetas", company code
135778275, address – Kestucio str. 58- 3, Kaunas, is nominated as the
bankruptcy administrator of AB Ukio bankas.

Gintaras Adomonis, on behalf of bankruptcy administrator UAB "Valnetas",
12-06-2013


https://newsclient.omxgroup.com/cdsP...ssageId=692733
-0- Jun/12/2013 07:42 GMT

[Sanger]

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The decision to start the bankruptcy proceedings against AB Ukio Bankas has come into force
Ukio Bankas AB
Notification on material event

The decision to start the bankruptcy proceedings against AB Ukio Bankas has
come into force

Kaunas, Lithuania, 2013-06-12 09:42 CEST (GLOBE NEWSWIRE) -- We hereby inform
that on 7 June 2013 the Court of Appeal of Lithuania decided to leave unaltered
the decision of Kaunas Regional Court dated 2 May 2013 in the civil case No.
B2-1786-254/2013, according to which the bankruptcy proceedings against AB Ukio
Bankas were started. Accordingly, on 7 June 2013 the court decision to start
the bankruptcy proceedings has come into force. UAB "Valnetas", company code
135778275, address – Kestucio str. 58- 3, Kaunas, is nominated as the
bankruptcy administrator of AB Ukio bankas.

Gintaras Adomonis, on behalf of bankruptcy administrator UAB "Valnetas",
12-06-2013


https://newsclient.omxgroup.com/cdsP...ssageId=692733
-0- Jun/12/2013 07:42 GMT

Published: 2013-06-12 09:42:04 CEST

Ukio Bankas AB Notification on material event The decision to start the bankruptcy proceedings against AB Ukio Bankas has come into force Kaunas, Lithuania, 2013-06-12 09:42 CEST (GLOBE NEWSWIRE) -- We hereby inform that on 7 June 2013 the Court of Appeal of Lithuania decided to leave unaltered the decision of Kaunas Regional Court dated 2 May 2013 in the civil case No. B2-1786-254/2013, according to which the bankruptcy proceedings against AB Ukio Bankas were started. Accordingly, on 7 June 2013 the court decision to start the bankruptcy proceedings has come into force. UAB "Valnetas", company code 135778275, address – Kestucio str. 58- 3, Kaunas, is nominated as the bankruptcy administrator of AB Ukio bankas. Gintaras Adomonis, on behalf of bankruptcy administrator UAB "Valnetas", 12-06-2013

This news release was distributed by GlobeNewswire, www.globenewswire.com – a NASDAQ OMX company

[rainman]

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the decision to start the bankruptcy proceedings against ab ukio bankas has come into force
ukio bankas ab
notification on material event

the decision to start the bankruptcy proceedings against ab ukio bankas has
come into force

kaunas, lithuania, 2013-06-12 09:42 cest (globe newswire) -- we hereby inform
that on 7 june 2013 the court of appeal of lithuania decided to leave unaltered
the decision of kaunas regional court dated 2 may 2013 in the civil case no.
B2-1786-254/2013, according to which the bankruptcy proceedings against ab ukio
bankas were started. Accordingly, on 7 june 2013 the court decision to start
the bankruptcy proceedings has come into force. Uab "valnetas", company code
135778275, address – kestucio str. 58- 3, kaunas, is nominated as the
bankruptcy administrator of ab ukio bankas.

Gintaras adomonis, on behalf of bankruptcy administrator uab "valnetas",
12-06-2013


https://newsclient.omxgroup.com/cdsp...ssageid=692733
-0- jun/12/2013 07:42 gmt

oaft!

[Dibben]

Here it comes... :-)

[bingo70]

Will that mean anything for hearts directly?

[Aldo]

If they are struggling to find a 100 grand what's gonnae happen with the wages this weekend??

O silly me they ARE self sufficient and

#allisbarry

[Sanger]

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Will that mean anything for hearts directly?

As UBIG main debtor of Ukio Bankas they will be declared insolvent/bankrupt very qyuickly kicking off points deduction. Ukio Bankas administrator will now try and maximise money it can recover and look for bid on Tynecastle/HMFC which it holds security on. They I should imagine open talks eith FOH to see the colour of their money and then move on to the real options!

[Aldo]

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Will that mean anything for hearts directly?

Where are the financial Bods when we need them. They better no be at work when we have questions to be answered ;-)

Ps sorry the man has answered the question.
Can it not be today cos I'm off on holiday the morn!!

[Saorsa]

[Aldo]

Brilliant. DIE DIE DIE

I ****ing hate the yams and want them dead ENDOF.

[CropleyWasGod]

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Where are the financial Bods when we need them. They better no be at work when we have questions to be answered ;-)

Work? Wossat? I have been on Hibs.net for the past 18 months.

I echo what Desantos said. The only slight addition I would make is that that process would already have been in play. The latest announcement merely confirms the bankruptcy of UKIO.

[Aldo]

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Work? Wossat? I have been on Hibs.net for the past 18 months.

I echo what Desantos said. The only slight addition I would make is that that process would already have been in play. The latest announcement merely confirms the bankruptcy of UKIO.

CWG thanks fur that. Gonnae have to get up a bit earlier to catch you oot??

Hopefully the SPL will be watching and hopefully ready to pounce

(Ps hopefully a nice wee present coming our way in the coming was if all is true)

[Andy74]

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Will that mean anything for hearts directly?

It depends what the admin come lloking for? They may keep the debt as it is so nothing at this stage.

I wish they'd hurry up with the UBIG bankruptcy though, That's your 15 point loss.

[#FromTheCapital]

[Peevemor]

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Will that mean anything for hearts directly?

Nah - all is still Barry in Edinburgh apparently.


http://www.ukiobank.co.uk/

[bingo70]

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As UBIG main debtor of Ukio Bankas they will be declared insolvent/bankrupt very qyuickly kicking off points deduction. Ukio Bankas administrator will now try and maximise money it can recover and look for bid on Tynecastle/HMFC which it holds security on. They I should imagine open talks eith FOH to see the colour of their money and then move on to the real options!

When you say very quickly do you think we're talking hours, days, weeks or months?

[Aldo]

What a total waste of money, time and effort on those steps. Tee hee

[CropleyWasGod]

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When you say very quickly do you think we're talking hours, days, weeks or months?

You can't always pin down the legal process.

For the UBIG insolvency, I would say weeks.

After that, it's up to the next SPL meeting to rule on the points deduction.

[Mixu62]

Warning to investers, jambo-coasters can go down as well as up!!

[Sanger]

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When you say very quickly do you think we're talking hours, days, weeks or months?

Days this week or start of next.

[Aldo]

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You can't always pin down the legal process.

For the UBIG insolvency, I would say weeks.

After that, it's up to the next SPL meeting to rule on the points deduction.

So at the moment once proceedings have started then once the SPL get confirmation of this then the deduction should be forth coming.

I did note that in the post the appeal was list on the 7th and therefore it came into force from that day and proceedings had commenced.

Tbh another problem, along with HMRC and wages looming, added to the list.

Can I ask that can they get a double points deduction, bankruptcy and no wages, from the SPL ??

[Sanger]

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You can't always pin down the legal process.

For the UBIG insolvency, I would say weeks.

After that, it's up to the next SPL meeting to rule on the points deduction.

Given the bank of Lithuanian had to carry out a full audit to take away Ukio Bankas banking license they will know exactly UBIG debts to Ukio bankas and given the UBIG will be declared insolvent 30 days from their request on 16 May 2013 that will be on 15 June 2013 which is a Saturday. So think insolvency/Bankruptcy will be declared officially by a court start of next week.


Must get on with some work now!

[Saorsa]

Any reaction on keechboak tae this news or is it still allisbarry

[Just Alf]

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Given the bank of Lithuanian had to carry out a full audit to take away Ukio Bankas banking license they will know exactly UBIG debts to Ukio bankas and given the UBIG will be declared insolvent 30 days from their request on 16 May 2013 that will be on 15 June 2013 which is a Saturday. So think insolvency/Bankruptcy will be declared officially by a court start of next week.


Must get on with some work now!

Hmm... I notice on the official notice above that the effective date is back dated.... in terms of UBIG I wonder if there's a possibility similar will happen to "back date" the insolvency to the date UBIG claimed they were insolvent? .... that would of course mean an 18 point reduction for the Yams

[blackpoolhibs]

Just seen 4 blokes with paint scrappers walking into tynecastle.

[Hibbyradge]

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Just seen 4 blokes with paint scrappers walking into tynecastle.

[Lucius Apuleius]

Please let it happen on page 176, my favourite number!!!

[brog]

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Nah - all is still Barry in Edinburgh apparently.


http://www.ukiobank.co.uk/

I love that, " you may be surprised at our services "!!!! That's one way of putting it!