Share Transfers Agreed/Cooling off period

[Geo_1875]

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...is sufficient punishment for HMFC (IA).
Looking ahead to the BDO deadline on "the glorious 12th of July" for bids for HMFC (IA), the SFA notice of complaint served on HMFC (IA), and the reply to the SFA within 7 days, and subsequent hearing to be heard on the 18th of July. The noises coming from BDO about newco scenarios doesn't bode well for their forthcoming meeting with the SFA. I'm sure the SFA will be looking for guarantees that HMFC (IA) will be able to complete their fixtures, ( unless that is something only the SPFL will decide on ) in the coming season. If the admins can't give that assurance, I think the SFA will suspend their membership for a year. Any reason why that will / won't happen?

GGTTH

Because they're an big establishment team who have been "punished" enough and the football authorities need them in the top league or we're all doomed, doomed I tell you.

[CropleyisGod]

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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!

Clearly as I am still God and the real accountant 'was' God then I outrank him even though he knows more Even as God I can't get my head round GodisCropley (if there is one) although I still think I outrank GodwasCropley . I think we might need to invoke more deities, Alex was that good a player!

I'll shut up now because we have Yams to keep up to date with reality...

[Geo_1875]

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FOH are 2,000 short of the target they had for funding, must have been all the Hibs fans who pledged.

http://www.bbc.co.uk/sport/0/football/23181096

Foundation of Hearts confident they will meet bid deadline

The fans' group aiming to buy Hearts insist they will meet the 12 July deadline set by administrators. The Foundation of Hearts also said they had two options to finance their bid.

Foundation chairman Ian Murray MP claimed that almost 4,000 fans have converted pledges of support into direct debits - 2,000 short of their target. "We are nearly there and the Foundation will select the most appropriate route," he said.

Murray, the Labour member for Edinburgh South, added: "Should we be able to hit our own target for pledges we will in a position to draw down substantial capital to confirm a viable bid to take Hearts into the ownership of the people that matter most, the supporters."

The two funding options for the consortium remain confidential until after the deadline, but the group say both rely on securing as much financial support from individual fans as possible, coupled with partnerships with businesses.

Former Hearts captain Dave McPherson has also backed the Foundation's efforts. "I want to offer my complete support," he said. "I hope the Foundation can secure the very final pledges requires to make the sort of bid to the administrators that they consider most appropriate to the future of this club."

How dare they put his photo in the article without a warning to the reader. I nearly brought my lunch back up. He really is a typical jambo.

[Geo_1875]

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Clearly as I am still God and the real accountant 'was' God then I outrank him even though he knows more Even as God I can't get my head round GodisCropley (if there is one) although I still think I outrank GodwasCropley . I think we might need to invoke more deities, Alex was that good a player!

I'll shut up now because we have Yams to keep up to date with reality...

Isn't that always the way?

[Dunderhall]

Trevor Birch in todays EEN. (removed yam consoling parts)

BDO’s Trevor Birch today insisted it was back to ‘business as normal’ at Hearts – but warned that the administration process at the club could still take until the turn of the year to complete.

In that respect it has been straightforward and the cash which has been generated now gives us the opportunity to sit down with the interested parties and gets us through to August when the SPL will deliver the first tranche of their money. That, with a fair wind, could take us through to Christmas.

We have got to be realistic though, these sales don’t happen quickly.

The eventual sale of the club will not be an easy process given that UBIG, who along with sister company Ukio Bankas, own 79 per cent of Hearts shares and are owed £10million by the Gorgie side, claim they are insolvent, while Ukio Bankas, who are owed £15m, are in administration.
That means there is no one person for BDO to communicate with when it comes to the transfer of the shares they hold in Hearts. Birch believes there are three or four serious bidders around the table but reckons the process of taking over the club could be drawn out.

He suggested that, in the worst-case scenario, Hearts could just be emerging from administration in time for the January transfer window but is hoping that it will prove to be a much quicker process.
That, however, all depends on matters in Lithuania being resolved over the course of the next few weeks. And Birch admitted: “I would like to think that we would be out of administration by the window in January, but you just can’t call it.
“It may be quicker. If the administrator is appointed over there quickly then they might say ‘there is absolutely no value, go and sell the shares’ and the interested party is in a position to move quickly, then it could all happen sooner than we think.
“The earliest it could happen is three months because of the process of the administration of the CVA.

At best guess, it is going to be three or four months and then you build in the difficulties in trying to deliver the shares.
The problem is that, unlike in England, where you can set up a newco and buy the assets of a company that has gone into administration and then the football league transfer the membership to the newco, you don’t then need to deal with the owner, it bypasses the owner. “But here 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.

[Geo_1875]

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Trevor Birch in todays EEN. (removed yam consoling parts)

BDO’s Trevor Birch today insisted it was back to ‘business as normal’ at Hearts – but warned that the administration process at the club could still take until the turn of the year to complete.

In that respect it has been straightforward and the cash which has been generated now gives us the opportunity to sit down with the interested parties and gets us through to August when the SPL will deliver the first tranche of their money. That, with a fair wind, could take us through to Christmas.

We have got to be realistic though, these sales don’t happen quickly.

The eventual sale of the club will not be an easy process given that UBIG, who along with sister company Ukio Bankas, own 79 per cent of Hearts shares and are owed £10million by the Gorgie side, claim they are insolvent, while Ukio Bankas, who are owed £15m, are in administration.
That means there is no one person for BDO to communicate with when it comes to the transfer of the shares they hold in Hearts. Birch believes there are three or four serious bidders around the table but reckons the process of taking over the club could be drawn out.

He suggested that, in the worst-case scenario, Hearts could just be emerging from administration in time for the January transfer window but is hoping that it will prove to be a much quicker process.
That, however, all depends on matters in Lithuania being resolved over the course of the next few weeks. And Birch admitted: “I would like to think that we would be out of administration by the window in January, but you just can’t call it.
“It may be quicker. If the administrator is appointed over there quickly then they might say ‘there is absolutely no value, go and sell the shares’ and the interested party is in a position to move quickly, then it could all happen sooner than we think.
“The earliest it could happen is three months because of the process of the administration of the CVA.

At best guess, it is going to be three or four months and then you build in the difficulties in trying to deliver the shares.
The problem is that, unlike in England, where you can set up a newco and buy the assets of a company that has gone into administration and then the football league transfer the membership to the newco, you don’t then need to deal with the owner, it bypasses the owner. “But here 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.

I hope they are not relying on the SPL for money. Or did nobody tell them?

[hibs0666]

Not content with giving the Bosch a good biff on the nose not once but twice, the yams have vanquished the pirates of the South China Sea. Strips are now on sale.

[CropleyWasGod]

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I hope they are not relying on the SPL for money. Or did nobody tell them?

Hmmm.... this is significant in some ways.

One of the things about the "asset sale" advert was the fact that it referred to an "SPL" club. For that, and other reasons, I was sceptical about whether it was genuine. However, if TB is using that term (albeit loosely), then I can understand that that loose talk may have found its way into the advert.

It's not very impressive, though.

[greengnome]

Originally Posted by Dunderhall
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Trevor Birch in todays EEN. (removed yam consoling parts)

BDO’s Trevor Birch today insisted it was back to ‘business as normal’ at Hearts – but warned that the administration process at the club could still take until the turn of the year to complete.

In that respect it has been straightforward and the cash which has been generated now gives us the opportunity to sit down with the interested parties and gets us through to August when the SPL will deliver the first tranche of their money. That, with a fair wind, could take us through to Christmas.

We have got to be realistic though, these sales don’t happen quickly.

The eventual sale of the club will not be an easy process given that UBIG, who along with sister company Ukio Bankas, own 79 per cent of Hearts shares and are owed £10million by the Gorgie side, claim they are insolvent, while Ukio Bankas, who are owed £15m, are in administration.
That means there is no one person for BDO to communicate with when it comes to the transfer of the shares they hold in Hearts. Birch believes there are three or four serious bidders around the table but reckons the process of taking over the club could be drawn out.

He suggested that, in the worst-case scenario, Hearts could just be emerging from administration in time for the January transfer window but is hoping that it will prove to be a much quicker process.
That, however, all depends on matters in Lithuania being resolved over the course of the next few weeks. And Birch admitted: “I would like to think that we would be out of administration by the window in January, but you just can’t call it.
“It may be quicker. If the administrator is appointed over there quickly then they might say ‘there is absolutely no value, go and sell the shares’ and the interested party is in a position to move quickly, then it could all happen sooner than we think.
“The earliest it could happen is three months because of the process of the administration of the CVA.

At best guess, it is going to be three or four months and then you build in the difficulties in trying to deliver the shares.
The problem is that, unlike in England, where you can set up a newco and buy the assets of a company that has gone into administration and then the football league transfer the membership to the newco, you don’t then need to deal with the owner, it bypasses the owner. “But here 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.





I hope they are not relying on the SPL for money. Or did nobody tell them?


Tranche of money......Fair winds.....!!!!!! This is definitely getting too technical for me....

[kdhibees1]

When the SPL will deliver the first ''tache''
Sealed with a loving kiss from Rodders, enclosed in the envelope is 7 pence!

[sidneyhibbie]

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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

Apart from kicking the odd Russian Hat around they followed mad vlad as if he was the Pied Piper even wanting to build a statue of in their words " The Great Man "

[BT58]

Foulkes talking to jim white
The way theyre talking ,foulkes is the great saviour
Hes talking to liths hes talking to ambassadors
Hes talking about cups (nae 5-1,1902 tho)
Hopefully the liths will tell him were to go
Bt

[Saorsa]

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Apart from kicking the odd Russian Hat around they followed mad vlad as if he was the Pied Piper even wanting to build a statue of in their words " The Great Man "

what dae you mean as if?

[greengnome]

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what dae you mean as if?

[kdhibees1]

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what dae you mean as if?

In yer Gorgie slums, in yer Gorgie slums. Ye's all loved mad Vlad, aye ye thought he was sweet. Now your club's gone tae the wall cause of his UKIO'S balance sheets..... In yer yer Gorgie slums!!!

[Saorsa]

anybody want tae take a guess at what the rats represent?

[greengnome]

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anybody want tae take a guess at what the rats represent?

Pishybreeks and the 400,000 mobilised faithful...?

[jdships]

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Yep, certainly inspired me, if I could invent any more half way credible names I'd make even more pledges, as one poster above says, they are a busted flush. The FOH were just way to slow to move unless of course they have got BDO to wait for them to catch up.

Absolutely !
OK they have/will have funds to buy the club but where is the money coming from to run the Hearts on a weekly basis ?
Season ticket money will be gone , part of the sponsorship money has gone
" Walk up" payers won't raise enough money to ensure cash flow so where is the " sugar daddy " coming from - Mr Murray MP perhaps
There is definately a hell of a lot of " spin" going on here !!!!

[Saorsa]

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Pishybreeks and the 400,000 mobilised faithful...?

Damn, I was hoping that would be tricky yin. almost right, swap mobilised faithful for roasters and you're bang on.

[Saorsa]

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Absolutely !
OK they have/will have funds to buy the club but where is the money coming from to run the Hearts on a weekly basis ?
Season ticket money will be gone , part of the sponsorship money has gone
" Walk up" payers won't raise enough money to ensure cash flow so where is the " sugar daddy " coming from - Mr Murray MP perhaps
There is definately a hell of a lot of " spin" going on here !!!!

is that the same as bull ****ting?

[greengnome]

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Damn, I was hoping that would be tricky yin. almost right, swap mobilised faithful for roasters and you're bang on.

Roasters... I stand corrected Sir....

[cabbageandribs1875]

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http://www.bbc.co.uk/sport/0/football/23181096


Q. why do most hertz fans look like wee cling-ons

Former Hearts captain Dave McPherson has also backed the Foundation's efforts. "I want to offer my complete support," he said. "I hope the Foundation can secure the very final pledges requires to make the sort of bid to the administrators that they consider most appropriate to the future of this club."

good old Donkey Dave, i reckon that's hertz saved now :(

[Waxy]

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Absolutely !
OK they have/will have funds to buy the club but where is the money coming from to run the Hearts on a weekly basis ?
Season ticket money will be gone , part of the sponsorship money has gone
" Walk up" payers won't raise enough money to ensure cash flow so where is the " sugar daddy " coming from - Mr Murray MP perhaps
There is definately a hell of a lot of " spin" going on here !!!!

I'd be happy if the foh get the club.
Huge downsizing would happen.
They'd probably end up a first division size club.

[sidneyhibbie]

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what dae you mean as if?

Anyone able to put yam tops on the rats

[Treadstone]

Think we are getting away from the real question here.

Was Cropley God ?

[HibbySpurs]

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Apart from kicking the odd Russian Hat around they followed mad vlad as if he was the Pied Piper even wanting to build a statue of in their words " The Great Man "

He is the "Great Man", just not for the yams

[kdhibees1]

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Anyone able to put yam tops on the rats

Not quite but best I can do....
The 'Trumpets Trumpeteer'

[Kaiser1962]

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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.

Wouldnt a Newco be very difficult to implement once the season is underway with Hearts in it? The longer its gone the worse it would be.

[HibbySpurs]

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Not quite but best I can do....
The 'Trumpets Trumpeteer'

That'll do nicely sir

[easty]

http://www.bbc.co.uk/news/uk-scotlan...-fife-23183207

Anyone got any suggestions for this? How about killed by Professor Plumanov in the Pink Wongadome with Financial Mismanagement???