Share Transfers Agreed/Cooling off period

[Corstorphine Hibby]

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What has happened to young full back Craig Thomson in all of this? Is he still at Kanuas or did he have his contract cancelled?

(I'm saying this not to start another tiresome done-to-death witch hunt against him, just genuinely curious as to what became of him.)

I've heard that he's offered to work for free as a physiotherapist for the Hearts youth team.

[The Green Goblin]

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The Wilson signing adding too their costs and not in interest of creditors Sidney has been busy reading up BDO Have broken rules.

Your last couple of posts caught my interest. Are you Peter Mullen's character in Alfonso Cuaron's film "Children of Men"?

[ScottB]

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I've heard that he's offered to work for free as a physiotherapist for the Hearts youth team.

Nah he's joining as Head of Social Media...

[HibeeMG]

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Your last couple of posts caught my interest. Are you Peter Mullen's character in Alfonso Cuaron's film "Children of Men"?

It only took a few seconds but when I remembered, I laughed.

[HUTCHYHIBBY]

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Been busy today has Sidney i have written to council demanding under freedom off information act how much the yams are behind in commercial rates for the PBS and HWU. Also letter complaining about BDO.

Letters also posted to SFA And Doncaster and Regan regards the Wilson Signing.

Sidney takes no **** yam fuds

I'm always a bit wary of folk that talk about themselves in the 3rd person. ;-)

[HibeeMG]

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I'm always a bit wary of folk that talk about themselves in the 3rd person. ;-)

HibeeMG agrees with this

[Sanger]

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You sure about that? I thought that secured creditors could only vote in a CVA to the extent that their debt is unsecured. UKIO have a fixed charge on the property, and a floating charge on the assets, so their debt is fully secured. UBIG, if it's valid, have a floating charge, and so are fully secured as well.

Academic, sure, because the secured creditors are not bound by the results of the vote. They still have, effectively, final say on whether the deal goes through. If the shares are available

That is the regulation concerning CVAs.

The position of secured investors is outlined here showing that secured investors get a vote in round one based on how much the value of their debt exceeds the value of the assets the debt is secured on.

http://www.purnells.co.uk/limited-co...creditors.html

[Springbank]

Interesting!! My "mole" inside FoH gave me my standard regular update on their finances and business model just now:

No-one won last nights EuroMillions so Fridays jackpot is £22m. They've got Friday then (in the unlikely event of not winning that) they'll still have next Tuesday's draw before the 12 July bdo deadline.

So close...

[s.a.m]

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Interesting!! My "mole" inside FoH gave me my standard regular update on their finances and business model just now:

No-one won last nights EuroMillions so Fridays jackpot is £22m. They've got Friday then (in the unlikely event of not winning that) they'll still have next Tuesday's draw before the 12 July bdo deadline.

So close...

[lord bunberry]

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Interesting!! My "mole" inside FoH gave me my standard regular update on their finances and business model just now:

No-one won last nights EuroMillions so Fridays jackpot is £22m. They've got Friday then (in the unlikely event of not winning that) they'll still have next Tuesday's draw before the 12 July bdo deadline.

So close...

I would love to win that and announce that I was a jambo and was going to save hearts, then at the last minute tell them they were getting nowt.

[TornadoHibby]

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So how do you establish the realisable value of the assets without realising them?

And here's me thinking that you were the accountant too!??!

In reality, I imagine by independant or otherwise objective valuation (of assets and liabilities until realised or proven respectively) for the purposes of decision making in insolvency situations before asset disposals are completed would be the way it's done!

[Bristolhibby]

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Your last couple of posts caught my interest. Are you Peter Mullen's character in Alfonso Cuaron's film "Children of Men"?

Yea, I picked up on that too. He takes a dull one to the face with a breeze block. Ouch!

J

[The Falcon]

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And here's me thinking that you were the accountant too!??!

In reality, I imagine by independant or otherwise objective valuation (of assets and liabilities until realised or proven respectively) for the purposes of decision making in insolvency situations before asset disposals are completed would be the way it's done!

Alternatively you can follow the Rangers/Sevco template.........

[YehButNoBut]

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And here's me thinking that you were the accountant too!??!

In reality, I imagine by independant or otherwise objective valuation (of assets and liabilities until realised or proven respectively) for the purposes of decision making in insolvency situations before asset disposals are completed would be the way it's done!

That cleared it up for me.

[GloryGlory]

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I see the new season kicks off on August 10th - 6 weeks away. Surely if an East Sevco want to be part of it they need to apply now to Div 3. This time last year there was at least Team 12 in the fixtures.

I wouldn't want to be any of the teams that would be 'rewarded' by a sudden promotion this close to the start of the season whteher it was because there is HOMFC at all or a newco.

Neither would I want to be the SPL finance director, if they have accepted the yams' request for an advance of next season's TV money.

[Caversham Green]

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You sure about that? I thought that secured creditors could only vote in a CVA to the extent that their debt is unsecured. UKIO have a fixed charge on the property, and a floating charge on the assets, so their debt is fully secured. UBIG, if it's valid, have a floating charge, and so are fully secured as well.

Academic, sure, because the secured creditors are not bound by the results of the vote. They still have, effectively, final say on whether the deal goes through. If the shares are available

Re this and subsequent...

It used to be the case that a secured creditor would not get a vote in a CVA because they could deal with the assets and security separately and it was up to them to ensure that the debt didn't exceed the value of the assets. I thought that was still the case but according to the link posted by desantos0773 (and by another poster previously) that was changed very recently (2003 ) and now any debt that exceeds the asset value does fall into a CVA vote. I think this could create more problems than it solves because a valuation is always spurious unless it's tested on the market and that leaves the allocation of secured/unsecured debt open to challenge from whichever side it suits.

One point about the Purnells link - It describes specific circumstances that don't match the Yams case, so I'm on the fence again, but my legs are dangling on the Purnells side.

[CropleyWasGod]

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Re this and subsequent...

It used to be the case that a secured creditor would not get a vote in a CVA because they could deal with the assets and security separately and it was up to them to ensure that the debt didn't exceed the value of the assets. I thought that was still the case but according to the link posted by desantos0773 (and by another poster previously) that was changed very recently (2003 ) and now any debt that exceeds the asset value does fall into a CVA vote. I think this could create more problems than it solves because a valuation is always spurious unless it's tested on the market and that leaves the allocation of secured/unsecured debt open to challenge from whichever side it suits.

One point about the Purnells link - It describes specific circumstances that don't match the Yams case, so I'm on the fence again, but my legs are dangling on the Purnells side.

... and that may be very important in this case. If a bidder says £xm for the secured creditors, and y pence/£ for the unsecured, the arguments between the UKIO and UBIG reps might take a while. Which would be nice.

Cheers for the clarification.

[StevieC]

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That cleared it up for me.

I think it means .. they guess.

[CropleyWasGod]

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I think it means .. they guess.

What it means is.... " we are professionals, and we can therefore use big long technical words that nobody else understands... which then justifies us charging you minions enormous amounts of money, 'cos you think we must know what we're talking about."

[jacomo]

What happened to Fish? Is he bailing them out or what?

[Coco Bryce]

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What happened to Fish? Is he bailing them out or what?

What happened to his thread? I take it he got fed up with the abuse

Heard he was hoping to raise half a marillion £s tae

[Saorsa]

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What happened to his thread? I take it he got fed up with the abuse

Heard he was hoping to raise half a marillion £s tae

It's in the dugout

[Waxy]

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What happened to his thread? I take it he got fed up with the abuse

Heard he was hoping to raise half a marillion £s tae

I know it's petty and cruel and i'm taking it out on the wrong things,but i never fed my fish last night.You know who to blame.

[green glory]

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What happened to Fish? Is he bailing them out or what?

Fish is a Hibby. I wouldn't suggest otherwise to his face that's for sure.

[Pedantic_Hibee]

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I know it's petty and cruel and i'm taking it out on the wrong things,but i never fed my fish last night.You know who to blame.

F*****g LOL!!!!!!!!!

[greenginger]

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... and that may be very important in this case. If a bidder says £xm for the secured creditors, and y pence/£ for the unsecured, the arguments between the UKIO and UBIG reps might take a while. Which would be nice.

Cheers for the clarification.

Yeah, but Ukio Bankas was appointed Security Trustee when the debt was split and I thought it allowed Ukio, now through their Admin. to split the cake as he sees fit.

No doubt everything will end up with Ukio Bankas so I can't see anyone fighting over the offer.

Just hope the Merricks try and get the HOMFC carcass on the cheap and that really p!sses off the admin. who consigns the lot to the mincer.

[CropleyWasGod]

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Yeah, but Ukio Bankas was appointed Security Trustee when the debt was split and I thought it allowed Ukio, now through their Admin. to split the cake as he sees fit.

No doubt everything will end up with Ukio Bankas so I can't see anyone fighting over the offer.

Just hope the Merricks try and get the HOMFC carcass on the cheap and that really p!sses off the admin. who consigns the lot to the mincer.

You're probably right, of course. But, we pedants like to fight over every line. It helps to bump up the fees.

[Keith_M]

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....

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....

Am I the only one a bit confused / suspicious?





Would the REAL Cropley the Accountant please stand up!

[CropleyWasGod]

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Am I the only one a bit confused / suspicious?





Would the REAL Cropley the Accountant please stand up!

Um.... I was hoping this wouldn't cause a stir.

The paranoid me says he's a Yam Troll, on a mission to discredit me. I'd say that there are much easier ways of doing that.

The rational me says that he is a disciple of the greatest left-peg I have ever seen in a Hibs shirt.

[Eternal Hibbie]

This morning's Record -

"Fresh fears for Hearts as season ticket sales hit the buffers"

Excellent, big team my ass.


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