Share Transfers Agreed/Cooling off period

[GreenCastle]

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This is a game of PR. BDO were never going to talk of a Newco solution as long as there was cash to be pulled in through STs. Now that card has been played and they've bought a little time (and have the cash in the bank) they can start feeding the Yam mob with some home truths.

Next play is to start blaming Lithuanian bureaucracy for holding things up, delaying the process, needing more cash, blah blah. Easy to deflect blame onto those bad people in Lithuania - perfect scapegoats when it all goes tits up. Let the games begin

They had to be positive at the start to get the yams on side.

As soon as they have raised some money and given them a little more breathing space - the real truths are starting to emerge.

Many of the yams don't realise it's not what BDO do here in Edinburgh / UK....it's about events in Lithuania and that's the real wildcard situation we find ourselves in - the hard part to work out is the timing - this is still got quite a while to drag on - which in the yams case means more worry as other teams fans torment them and the media try and sell papers

Bottom line the club will continue to be a laughing stock in UK football

[Keith_M]

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Couldn't resist Everybody should have some similarity to your name so that nobody knows what's real or not.

Just wait until I post some financial revelation about that bunch of highland dancers that is totally left field

That's not funny! Change your name back right away!!!

[Waxy]

Looks like BDO can drop the newco bombshell now that they've taken in as much cash as they can.
Thats the jambo cash exhausted now.
Where are they going to get sufficient funds to get them through to the end of the season?
Has to be a buyer but no buyer would pay the amount the Liths want.
So it looks like it's the end.
Newco.
The lowland league.

[sidneyhibbie]

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This is a game of PR. BDO were never going to talk of a Newco solution as long as there was cash to be pulled in through STs. Now that card has been played and they've bought a little time (and have the cash in the bank) they can start feeding the Yam mob with some home truths.

Next play is to start blaming Lithuanian bureaucracy for holding things up, delaying the process, needing more cash, blah blah. Easy to deflect blame onto those bad people in Lithuania - perfect scapegoats when it all goes tits up. Let the games begin

Yes i like this idea So BDO Are pretending to be the good guys and string the yams along for every penny and once they have drained them dry of cash they start to blame the Lithuanians and as there hands are tied boom Liquidation.

[Keith_M]

Just a quick question.


Does anybody think the whole 'We Need 3,000 More Season Tickets' ploy was so that BDO would be able to get paid?



Maybe one of the many Cropleys could answer the question

[Lucius Apuleius]

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Just a quick question.


Does anybody think the whole 'We Need 3,000 More Season Tickets' ploy was so that BDO would be able to get paid?



Maybe one of the many Copleys could answer the question

I do like the idea of lots of Cropleys though.

[hibees 7062]

Has anyone told captain Danny yet ?

[TrickyNicky]

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Just a quick question.


Does anybody think the whole 'We Need 3,000 More Season Tickets' ploy was so that BDO would be able to get paid?



Maybe one of the many Copleys could answer the question

I can't get the image of all The Cropley's sitting around the table like The Waltons doing the math on Hearts CVA.

" Big Crop " ( AKA - JohnBoy ) signs off each night by writing on this thread, thus allowing us to sleep peacefully, knowing right from wrong!

[lapsedhibee]

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Does anybody think the whole 'We Need 3,000 More Season Tickets' ploy was so that BDO would be able to get paid?

Maybe one of the many Copleys could answer the question

CopleyWasGod is on the fence for that one, I think. Or it might be another of them (Copleys that is, not fences.)

[matty_f]

One potential spanner in the works is that when the Rangers went the newco route, they lost their SPL share and the vote went against that being transferred to newco.
Then The Rangers had to apply for SFL membership and they started at the bottom.

There is no SPL/SFL now - it's the SPFL so we have a different set of circumstances now. I don't know what happens now, who decides on the transfer of membership?

[Part/Time Supporter]

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One potential spanner in the works is that when the Rangers went the newco route, they lost their SPL share and the vote went against that being transferred to newco.
Then The Rangers had to apply for SFL membership and they started at the bottom.

There is no SPL/SFL now - it's the SPFL so we have a different set of circumstances now. I don't know what happens now, who decides on the transfer of membership?

The SPFL board. Any punishment attached to the transfer is entirely at their discretion.

[jacomo]

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http://www.hmfckickback.co.uk/index....ash-with-cash/

Where to begin. Seemingly they are covered in cash at Tynecastle, bathing in asses milk and the such. Never mind that the cash - an admirable amount as it may be - is flying out again immediately to service interest/pay wages etc etc (correct me if I'm wrong).

We will see what the future holds, but if it goes pop the delusion of some of these muppets is breathtaking.

Presumably the guy who started that thread is the same 'kiwidoug' who posts on the Scotsman site - he's a buffoon.

One of the replies has got it nearly right:

this thread makes us look like arrogant idiots

In fact, that entire forum makes the Yams look like arrogant idiots, but at least some recognition there.

[Jack]

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BDO are merely floating the possibility of the NewCo route. If they are unable to make a CVA work, they are entitled to sell off the assets for the benefit of the creditors. If the advert floating about earlier this week is genuine, then they have already started that process.

Anyone can start up that NewCo. It's not, though, in BDO's power to assess whether you are a fit and proper person; that's the SFA's call. BDO will make a sale on the best commercial terms.

Thank you and to CB_NO3 too.

I get the impression the sale of oldco by BDO to mewco is a foregone conclusion.

What if a newco(s) just says stuff it and starts again at say Murrayfield? And another one starts up in Livvy and an other and an other?

All oldcos assets are sold - OK

Newco(s) as independent companies don't have to deal with BDO, or am I missing something?

To answer my own question I suppose it would be up to the football authorities to select which one along with any other applications.

[Part/Time Supporter]

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Thank you and to CB_NO3 too.

I get the impression the sale of oldco by BDO to mewco is a foregone conclusion.

What if a newco(s) just says stuff it and starts again at say Murrayfield? And another one starts up in Livvy and an other and an other?

All oldcos assets are sold - OK

Newco(s) as independent companies don't have to deal with BDO, or am I missing something?

To answer my own question I suppose it would be up to the football authorities to select which one along with any other applications.

Getting way ahead of yourselves guys.

Most (if not all) of the buyers would only be interested on the basis of going through a CVA and being able to automatically retain the SPL place. Therefore BDO will continue to pursue the CVA route for at least the next month or two, as the cash raised allows them to continue trading.

BDO will only pursue the newco route if it continues to be impossible to secure the UBIG shares for sale and therefore a sale to a newco is the only way to raise funds for Ukio.

[Dunderhall]

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Presumably the guy who started that thread is the same 'kiwidoug' who posts on the Scotsman site - he's a buffoon.

One of the replies has got it nearly right:


In fact, that entire forum makes the Yams look like arrogant idiots, but at least some recognition there.

They are calling him a hibs troll now.
If only there was someone who could write a letter to complain.

[Dashing Bob S]

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This is a really good post i agree with your findings and this should be sorted before the season starts so they can be demoted properly

You agree, fair enough; but I want to know how Sidney feels about this.

[21.05.2016]

It makes me laugh that over on keekback they are going on about how they have such a "fantastic support" for raising funds.

1) they have done **** all till now to try stop this as they were far to busy living in Vlad fantasy world

2) their lack of protest or rallying has been remarkable!

3) they have not done anything exceptional, nothing any other set of fans wouldn't do in the same predicament, in fact they have done less than most sets of fans would do!



Fantastic support eh? hahahahahaa oh please, don't embarrass yourselves, your support is deluded, arrogant and completely pathetic

[Gus Fring]

I'm glad Birch has come out now and clarified that the assets are still frozen cos the media have been missing that since March. How many times have they told the world that Hearts are close to being bought and now it comes out that it was never possible.

I've also noticed a reduction in posts that say "Hearts will wiggle out of this".

[21.05.2016]

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I'm glad Birch has come out now and clarified that the assets are still frozen cos the media have been missing that since March. How many times have they told the world that Hearts are close to being bought and now it comes out that it was never possible.

I've also noticed a reduction in posts that say "Hearts will wiggle out of this".

The media have been woeful throughout this entire thing.

[jacomo]

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It makes me laugh that over on keekback they are going on about how they have such a "fantastic support" for raising funds.

1) they have done **** all till now to try stop this as they were far to busy living in Vlad fantasy world

2) their lack of protest or rallying has been remarkable!

3) they have not done anything exceptional, nothing any other set of fans wouldn't do in the same predicament, in fact they have done less than most sets of fans would do!



Fantastic support eh? hahahahahaa oh please, don't embarrass yourselves, your support is deluded, arrogant and completely pathetic

They saved professional football for the world, according to Jack Alexander.

With the profits they are going to make from next year's World Cup, I am surprised FIFA hasn't authorised a special dispensation of £50m or so to bail Hearts out.

[Saorsa]

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The media have been woeful throughout this entire thing.

Allisbarry#

[Part/Time Supporter]

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I'm glad Birch has come out now and clarified that the assets are still frozen cos the media have been missing that since March. How many times have they told the world that Hearts are close to being bought and now it comes out that it was never possible.

I've also noticed a reduction in posts that say "Hearts will wiggle out of this".

Did he? From the quotes I have seen he only referred to the inability to contact anyone in charge at UBIG due to their strange "are they in administration or not?" situation.

eg quoted today in EEN:

But here [Scotland] you have to keep the same company and therefore you have to be able to deliver the shares, so you are going to UBIG and saying ‘will you sell the shares’ but at the moment there is nobody to speak for UBIG because they are in an insolvency process but they don’t yet have an administrator.

Until the administrators are appointed, we can’t do anything and, according to the lawyer acting for our administrators over there, that could be the end of July or even August before they are appointed. That is the real wrinkle in the process for us right now because it should be straightforward.

[Treadstone]

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Getting way ahead of yourselves guys.

Most (if not all) of the buyers would only be interested on the basis of going through a CVA and being able to automatically retain the SPL place. Therefore BDO will continue to pursue the CVA route for at least the next month or two, as the cash raised allows them to continue trading.

For all their (many) faults FoH will be the only one of current interested parties who would still be there if it was a Newco. I'd hesitate to call them buyers though more freeloaders.

[Treadstone]

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Did he? From the quotes I have seen he only referred to the inability to contact anyone in charge at UBIG due to their strange "are they in administration or not?" situation.

He did on SSN.

[Haymaker]

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He did on SSN.

Yep, said something about having to wait for those shares to be available when admin is confirmed.

[Geo_1875]

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Why staggering? If a CVA doesn't work, it's the ONLY route to preserve a "Hearts".

If they have changed their tune in the past 2 weeks, it's probably in the light of the realisation that the frozen shares really are going to be a major issue.

Surely you mean create a new club called "Hertz".

[The Green Goblin]

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You agree, fair enough; but I want to know how Sidney feels about this.

. So do I. Does Bob though?

[CropleyWasGod]

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CopleyWasGod is on the fence for that one, I think. Or it might be another of them (Copleys that is, not fences.)

Beat it

[CropleyWasGod]

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Surely you mean create a new club called "Hertz".

I do. Without getting into the whole "same club" argument, I meant what I said. If it's not a CVA, a Newco is the only way to preserve what some would call "Hearts".

[CropleyWasGod]

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Thank you and to CB_NO3 too.

I get the impression the sale of oldco by BDO to mewco is a foregone conclusion.

What if a newco(s) just says stuff it and starts again at say Murrayfield? And another one starts up in Livvy and an other and an other?

All oldcos assets are sold - OK

Newco(s) as independent companies don't have to deal with BDO, or am I missing something?

To answer my own question I suppose it would be up to the football authorities to select which one along with any other applications.

I agree with PTS that it's too early to start assuming it's a Newco. The whole process of the CVA route has to be exhausted first.

However, in the scenario of a Newco....... there would only be one place in the SPFL up for grabs. It would be up to each NewCo to make a case for their admission to the SPFL. Along with Spartans, Gala, Hutchie Vale or whoever else fancied it.