Share Transfers Agreed/Cooling off period

[Dashing Bob S]

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And given that Ukio/UBIG/Vlad et al are currently subject to an investigation by the Lithuanian Financial Crimes Investigation Unit, I'd think it's highly unlikely that the shares/ground will be passed-on any time soon.

The decision of the transfer of shares isn't simply down to one person. There's many administrators and state controlled departments to agree and this won't be rushed through at the bequest of BDO.

Smashing! Righto, off out to Dofos to purchase a Persian cat, as an accessory to go with this Bond villain voice I seem to have acquired!

"I expect you to die, Mister Yam."

[hibbypostie]

Has there been any more info about the alleged 15% of hearts shares held by some firm in our pal Vlads name?

[bingo70]

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Has there been any more info about the alleged 15% of hearts shares held by some firm in our pal Vlads name?

No, it seems that all possible bad news for hearts is beingly completely ignored by most of the media.

[Pedantic_Hibee]

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Good point about the strips, did they ever come last week?

#allisverycargocontained

[Sergey]

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So would this stop (1)any sale of club(2)any sale of ground until these shares become available?

In simplistic terms, the ground and shares are akin to our 'Proceeds of Crime Act' and won't be dissolved until charges are brought and the case is resolved against Vlad and his merry bunch of cohorts. Given that Vlad is holed-up in Chechnya with an international arrest warrant in place, I don't see this sorting itself out in the foreseeable.

Years and not months by my reckoning.

[CropleyWasGod]

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In simplistic terms, the ground and shares are akin to our 'Proceeds of Crime Act' and won't be dissolved until charges are brought and the case is resolved against Vlad and his merry bunch of cohorts. Given that Vlad is holed-up in Chechnya with an international arrest warrant in place, I don't see this sorting itself out in the foreseeable.

Years and not months by my reckoning.

The ground, though, is owned by Hearts. In theory, that could be sold, as long as the proceeds went to UKIO.

It's the shares, though, that are un-sellable.

[carnoustiehibee]

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Good point about the strips, did they ever come last week?

Come out on Thursday apparently

[southsider]

So no way out or admin. until there is a court case for Vlad ? if they somehow survive but remain in admin they get a points deduction each season. Right ?

[Glesgahibby]

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No, it seems that all possible bad news for hearts is beingly completely ignored by most of the media.

No quotes or information from Lithuania
No questions regarding share/new shares to fans (fraud)
No questions on the real sum of debt
No sympathy for tax/council tax payers,student budgets,Lithuanian savers and normal run spl clubs
No remorse for not reporting this was going to happen
but plenty of yam mouth piecing and alsbarry delusion
However all of the above will not save them

[Glesgahibby]

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In simplistic terms, the ground and shares are akin to our 'Proceeds of Crime Act' and won't be dissolved until charges are brought and the case is resolved against Vlad and his merry bunch of cohorts. Given that Vlad is holed-up in Chechnya with an international arrest warrant in place, I don't see this sorting itself out in the foreseeable.

Years and not months by my reckoning.

Sergey,
i really think this is the case but it's nice to hear it from someone else.
The fact that vlads exit to a life on the run is going to help bring about liquidation
well that's just the best bit

[Glesgahibby]

It's a shame they never got there vlad statue.
we could have purchased it in the closing down sale.

[21.05.2016]

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He's just been appointed their new club captain

Wow, must have fought a lot of tough competition to be award that like

[greengnome]

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No we don't but since they have gone to all the bother of typing an article up about the Hearts one some publicity for the Hibs one wouldn't do much harm.

I believe Hellhammer has sorted this on the EEN post re the kids:

"The unique move has been made possible by the most desperate of circumstances."

No, not a unique move. Hibs have been running their Kicks for Kids scheme for years now.


Well done that person!!!!!

[Spike Mandela]

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In simplistic terms, the ground and shares are akin to our 'Proceeds of Crime Act' and won't be dissolved until charges are brought and the case is resolved against Vlad and his merry bunch of cohorts. Given that Vlad is holed-up in Chechnya with an international arrest warrant in place, I don't see this sorting itself out in the foreseeable.

Years and not months by my reckoning.

If this is the case why are BDO inviting bids for Hearts by 12th July?

[CB_NO3]

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If this is the case why are BDO inviting bids for Hearts by 12th July?

They are maybe hoping someone is going to pay 8 million for the club. That would probably be enough to buy Tynecastle and the old Ukios shares IMO. Can you see someone paying that? Nope, same here and even if they did there is still the 50% of shares with UBIG to be delt with and this is were Sergey could be right because the Lithuanians wont make them insolvent (even though they have applied) until they have delt with Vlad. I believe they want at least 7 years shoved up him.

[SHODAN]

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Wow, must have fought a lot of tough competition to be award that like

I would have thought they'd give it to Hamill or Stevenson. Both been there a lot longer, older and first team regulars.

Maybe the captaincy is a bit of a sweetener so he doesn't start forcing a move elsewhere?

[hibees 7062]

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Wow, must have fought a lot of tough competition to be award that like

Short straw

[YehButNoBut]

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No quotes or information from Lithuania
No questions regarding share/new shares to fans (fraud)
No questions on the real sum of debt
No sympathy for tax/council tax payers,student budgets,Lithuanian savers and normal run spl clubs
No remorse for not reporting this was going to happen
but plenty of yam mouth piecing and alsbarry delusion
However all of the above will not save them

Hearts fans don't seem to care, they all just seem so happy that they have got Danny Wilson, Billy Brown & the players have been partly paid.

Next for them is being debt free, escaping relegation by finishing above us.

Oh and us going bust as well.

I don't think any of them live in the real world.

[Glesgahibby]

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If this is the case why are BDO inviting bids for Hearts by 12th July?

I would guess the bids would be for shares not owned by ubig?
There is also no mention by BDO of the bid including the ground?

[21.05.2016]

You'd have thought they had just signed Messi the way the jambos are going on about this haha


Not a terrible player but certainly not the superstar the yams are making him out to be haha!

[YehButNoBut]

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I would have thought they'd give it to Hamill or Stevenson. Both been there a lot longer, older and first team regulars.

Maybe the captaincy is a bit of a sweetener so he doesn't start forcing a move elsewhere?

Read this on EEN, don't know if true or not but maybe he was made captain to make up for accepting even less money than he thought.

--------------------------------------------------------------------------------------------------------------------------------------------------------

Apparently he refused to be interviewed yesterday as part of the press conference announcing his signing and captaincy.

He is not happy that his 'agreed wage cut' is even less than he thought it would be.

[SHODAN]

Sadly this leaves Hearts with a semi decent back five of MacDonald, Hamill, Wilson, McGowan and McHattie.

I say SEMI decent but it's still irritating how that particular area is - as usual - the only one that isn't completely decimated, unlike their midfield (Ryan Stevenson and some "wonderkids") and their attack (David Smith, Dale Carrick and Billy King - 0 goals between them). I can see them trying their best to shut us out next derby.

[Dashing Bob S]

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Sadly this leaves Hearts with a semi decent back five of MacDonald, Hamill, Wilson, McGowan and McHattie.

I say SEMI decent but it's still irritating how that particular area is - as usual - the only one that isn't completely decimated, unlike their midfield (Ryan Stevenson and some "wonderkids") and their attack (David Smith, Dale Carrick and Billy King - 0 goals between them). I can see them trying their best to shut us out next derby.

Yes, the Yam survival strategy will be to shut up shop in all games and hope to scab a goal from a set piece, or hope a decent striker emerges from the ranks. But this assumes they'll make August. I doubt it.

[CropleyWasGod]

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If this is the case why are BDO inviting bids for Hearts by 12th July?

They have already acknowledged that share ownership is complicated, but they have to go through the process. At the end of it, if there are acceptable bids, but nothing to sell, the sale doesn't happen.

[CropleyWasGod]

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I would guess the bids would be for shares not owned by ubig?
There is also no mention by BDO of the bid including the ground?

No. The bids are for (probably all of ) the shares of the company; the ground is part of that.

[Ozyhibby]

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If this is the case why are BDO inviting bids for Hearts by 12th July?

This is where I'm struggling. BDO must know about the frozen assets and yet appear to be carrying on as if it's not a problem? Are they going to proceed all the way to the end of the process and then turn round to the prospective seller and say 'woops, we actually can't sell, sorry about that'.
It doesn't make sense that they have not acknowledged that there is a potential problem?

[CB_NO3]

Just out of interest does anyone have a list of secured and non secured creditors that Hearts are due cash too? Am guessing the only secured creditor is Ukio (which is obviously the Lith authorities now). Are UBIG a secured creditor? Just asking regarding a CVA thats all.

[CropleyWasGod]

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This is where I'm struggling. BDO must know about the frozen assets and yet appear to be carrying on as if it's not a problem? Are they going to proceed all the way to the end of the process and then turn round to the prospective seller and say 'woops, we actually can't sell, sorry about that'.
It doesn't make sense that they have not acknowledged that there is a potential problem?

Trevor Birch did last week.

Part of their job, to make the administration work, is to take possession of the shares. They will be trying to do that at the moment.

Any knowledgeable buyer will be aware of the share problems and they will be asking the same question.

[kdhibees1]

#allisverycomplicated

[CropleyWasGod]

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Just out of interest does anyone have a list of secured and non secured creditors that Hearts are due cash too? Am guessing the only secured creditor is Ukio (which is obviously the Lith authorities now). Are UBIG a secured creditor? Just asking regarding a CVA thats all.

There won't be a list published for some time now.

Nobody knows for certain whether UBIG are secured. That is something BDO will work on establishing.