Share Transfers Agreed/Cooling off period

[CropleyWasGod]

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[/B]

This is crux of the matter. The rest is just piss and wind. Hearts are running out of time. What the Doncaster's of this world have to decide is: can they let them participate this season under these circumstances?

It's also bulldust. The media keep repeating the line that the shares will somehow be defrosted when UBIG goes into administration. I can't see why that follows.

[Seveno]

Bryan Jackson was just on Reporting Scotland referring to UBIG as a bank and that they were trying to talk to the current Directors.

Do BDO know what they are doing ?

[Bostonhibby]

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Would appear to be so as my friend admitted for both him and his three mates who signed up it was very much a " knee jerk" thing .
Seems too that few wives are not happy with "throwing good money after bad " ( my pals wife's comment !!!!!!!!!!!)

Brother in Law is a yam blowhard who rarely attends games but is definitely a believer, like most of rhe cardigan ironning types the decision was made for him by his trouser wearing good lady, a much loved Hibby who is a season ticket holder. Their children will be brought up Hibbies, she's decided and he's been told. Its what that typw of yam allow to happen to them.

[CropleyWasGod]

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Bryan Jackson was just on Reporting Scotland referring to UBIG as a bank and that they were trying to talk to the current Directors.

Do BDO know what they are doing ?

Possibly camera-fright. This is what is on the BBC website, from BJ:-

"Further discussions will now take place with the bidders and also with the legal representatives of the administrators of AB Ukio Bankas,"

That makes sense.

[HIBERNIAN-0762]

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Bryan Jackson was just on Reporting Scotland referring to UBIG as a bank and that they were trying to talk to the current Directors.

Do BDO know what they are doing ?

That's what i was thinking, are they just tagging the yams along? he said that the 3 bids were nowhere near what is required to buy them, plus they have to deal with the Liths as well.

Why not just relegate the cheating B******S now!

[Dunderhall]

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That's what i was thinking, are they just tagging the yams along? he said that the 3 bids were nowhere near what is required to buy them, plus they have to deal with the Liths as well.

Why not just relegate the cheating B******S now!

The bit in bold, did he really say that at this stage.

[Seveno]

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Possibly camera-fright. This is what is on the BBC website, from BJ:-

"Further discussions will now take place with the bidders and also with the legal representatives of the administrators of AB Ukio Bankas,"

That makes sense.

That is a millions miles away from what he was saying on RS. He was talking about UBIG and getting hold of the 50% of the shares.

[Gus Fring]

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That's what i was thinking, are they just tagging the yams along? he said that the 3 bids were nowhere near what is required to buy them, plus they have to deal with the Liths as well.

Why not just relegate the cheating B******S now!

Relegation isn't a punishment option. It's a consequence of becoming a newco. Rangers weren't "relegated". They essentially left the structure and re-entered in SFL3.

[Islington Hibs]

Who knows what will happen but frankly if the Lithuanians refuse a CVA DBO will threaten them with getting virtually nothing back. Tynecastle is only valuable with planning permission and you can bet the council/ Salmond will not allow that. We have to make sure the council and our dear first Minister don't play foul. There are virtually no other assets. Totally unfair, if this happens, as they are cheating runts but I suspect you could get the whole thing for £3 or 4 million. The question is does one of their 400,000 fans have £4m? FoH are a non runner so its really down to who this 3rd bid is?

[Springbank]

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Who knows what will happen but frankly if the Lithuanians refuse a CVA DBO will threaten them with getting virtually nothing back. Tynecastle is only valuable with planning permission and you can bet the council/ Salmond will not allow that. We have to make sure the council and our dear first Minister don't play foul. There are virtually no other assets. Totally unfair, if this happens, as they are cheating runts but I suspect you could get the whole thing for £3 or 4 million. The question is does one of their 400,000 fans have £4m? FoH are a non runner so its really down to who this 3rd bid is?

It would get planning for a supermarket

[Onion]

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It was the Scandinavian Jambos that withdrew.

Club 9 are the ones with Bob Jamieson. Initially reported as a NewCo proposal, but I'm not so sure now.

Bid 3 may be the one that I feared.... the late runner, under the radar, a la Charlie Green.

The secret bidder is an Edinburgh Council and Alex Salmon consortium. Shhhh.

[CropleyWasGod]

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Who knows what will happen but frankly if the Lithuanians refuse a CVA DBO will threaten them with getting virtually nothing back. Tynecastle is only valuable with planning permission and you can bet the council/ Salmond will not allow that. We have to make sure the council and our dear first Minister don't play foul. There are virtually no other assets. Totally unfair, if this happens, as they are cheating runts but I suspect you could get the whole thing for £3 or 4 million. The question is does one of their 400,000 fans have £4m? FoH are a non runner so its really down to who this 3rd bid is?

You're missing the point. UKIO, and perhaps UBIG, are secured; the CVA is not their primary concern. They are more concerned with how much a bidder is prepared to pay THEM.

[ScottB]

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It would get planning for a supermarket

Doubtful, in the area there is a Scotmid, a LIDL and a Sainsbury's with a second LIDL and an Asda a bit further away.

It's unlikely another supermarket would be approved, or that one would seek to move into the area.


Flats are surely the obvious thing. I don't buy the dangerous area chat, there's a school next door!

[CropleyWasGod]

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The secret bidder is an Edinburgh Council and Alex Salmon consortium. Shhhh.

Safe hands then. Tynie will be a tram-shed.

[Sergey]

Latest tweet -

BBCBMcLauchlin @BBCBMcLauchlin

Angello Massone through 5stars football ltd make late bid for Hearts. Bid highest of the three made but working capital unclear#bbcsportscot

[Jack]

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Who knows what will happen but frankly if the Lithuanians refuse a CVA DBO will threaten them with getting virtually nothing back. Tynecastle is only valuable with planning permission and you can bet the council/ Salmond will not allow that. We have to make sure the council and our dear first Minister don't play foul. There are virtually no other assets. Totally unfair, if this happens, as they are cheating runts but I suspect you could get the whole thing for £3 or 4 million. The question is does one of their 400,000 fans have £4m? FoH are a non runner so its really down to who this 3rd bid is?

Nothing to do with Salmond.

Edinburgh Cooncil must have given Cala an indication that planning permissions would be granted when there was chat of the fat pie man flogging tynie to them.

The only issue would be the exploding exclusion zone. I can discount that for you as well as it only affects a small corner of the estate.

An indication of what's going on with the land may become clearer when the cooncil provide further details in relation to the old school building they have recently put up for sale as a redevelopment opportunity.

[judas]

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Who knows what will happen but frankly if the Lithuanians refuse a CVA DBO will threaten them with getting virtually nothing back. Tynecastle is only valuable with planning permission and you can bet the council/ Salmond will not allow that. We have to make sure the council and our dear first Minister don't play foul. There are virtually no other assets. Totally unfair, if this happens, as they are cheating runts but I suspect you could get the whole thing for £3 or 4 million. The question is does one of their 400,000 fans have £4m? FoH are a non runner so its really down to who this 3rd bid is?

I think you overestimate the Salmond factor.

For a start, what makes you so sure that the ground needs to be instantly liquidated to satisfy creditors? It could held as an asset.

It would also be almost impossible to deny planning permission on the land. On what grounds could an application be refused? It's not in a conservation zone. The stadium isn't a listed building. There are precedents for housing and retail use.

I would say the the council could protract the planning process but not prevent an outcome in which tynecastle could be demolished.

Salmond doesn't need to e embroiled in something like this at the present time. His experience with Trump was a big enough drag. I think e as far bigger fish to fry.

[CropleyWasGod]

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Latest tweet -

Jolly good.... that'll get the Yams revolting.

[lord bunberry]

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3 bids in for Hearts seemingly.

http://sport.stv.tv/football/clubs/h...adline-passes/

Administrators BDO have received three bids from potential buyers for Heart of Midlothian.

Joint administrators Bryan Jackson and Trevor Birch set Friday, July 12, as a deadline for interested parties to submit their proposals to buy Hearts.

The club, which is in debt to the tune of £25m, entered administration on June 19 and BDO will now assess the bids to establish which could deliver a CVA. Fan-backed Foundation of Hearts submitted their offer on Thursday, having gained monthly contributions from more than 5000 supporters of the Tynecastle side. STV understands the two bids received on Friday include one from an American-backed group and another unnamed bidder who has not previously been revealed in the media.

Mr Jackson said he would hold further discussions with bidder and the administrators of Ukio Bankas and was "unable to put timescale on announcing preferred bidder."

Hearts' ownership is complex, with insolvent bank Ukio Bankas having a claim to 29.9% of the company, plus Tynecastle Stadium. Ukio is owed £10m by Hearts.
Meanwhile the club's former holding company, UBIG, has 50% of the shareholding and is owed £10m. UBIG has declared insolvency in Lithuania but bankruptcy practitioners have yet to be appointed to the firm.

Until the insolvency process begins at UBIG, the assets are frozen and the 50% shareholding in Hearts cannot be obtained by BDO to sell as part of the CVA.
Meanwhile the capital club also announced season ticket sales had passed the 10,000 mark, having bought over 3,000 briefs in the past three weeks.

Was one of them from from sergey

[ScottB]

Surely Massone would fail a fit and proper person test?

[greenginger]

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Was one of them from from sergey

He said he was going to bid just to get a letter of reply to frame.


May'be he has gone in as Massone & Sergey and Co.

[yeezus.]

I was down at Portcullis House meeting my MP a few weeks back, I saw Murray and if he wasn't with two constituents I was gonna shout something at him... mind you given the amount of armed police standing about it may have been a bad idea.

[lord bunberry]

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He said he was going to bid just to get a letter of reply to frame.


May'be he has gone in as Massone & Sergey and Co.

He's probably been given preffered bidder status.

[YehButNoBut]

BBC site confirms Massone involved in bid.

http://www.bbc.co.uk/sport/0/football/23295172

Former Livingston owner of Angelo Massone is involved in one of the three groups who are bidding for control of Hearts, BBC Scotland has learned.

Fans' group the Foundation of Hearts, HMFC Ltd, who are financed by American investors, and Five Stars Football Ltd are believed to be bidding.

And Italian Massone is listed as a director of Five Stars Football Ltd. BDO will now assess the bids in detail before making a final decision on who should be the preferred bidder, probably within a four-to-six-week timescale.

During that time, offers can be amended after due diligence is completed and only then will preferred bidder status be announced.

Five Stars Football Ltd have made the largest cash offer for the club but it is unclear how much working capital they have at their disposal.

Massone left Livingston in July 2009 with the club having been placed in administration.

[Waxy]

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Surely Massone would fail a fit and proper person test?

It's a vast improvement though.

[Waxy]

Hasn't every club he's been to gotten liquidated?

[Dunderhall]

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Surely Massone would fail a fit and proper person test?

As I understand it, it is the club itself undertaking an investigation into the new owner in order to deem fit and proper or not. There isn't a defined test as such.

Its a cop out from the football authorities from taking any responsibility should something go wrong subsequently.
Its not clear what part Massone plays in the bid anyway.

[CropleyWasGod]

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Hasn't every club he's been to gotten liquidated?

In Scotland, IIRC, there has only been Livi. And they weren't liquidated.

[Viva_Palmeiras]

What do the 5 stars represent?

*****,
*****,
glorious *****!

[steviehibsleith]

Is this the same Five Star Football Massone leads. Hope so - Taken from business check

Business Overview


Five Stars Football Limited is an Active business incorporated in Scotland on 11th June 2012. Their business activity has not been recorded. Five Stars Football Limited is run by 1 current members. It has no share capital. It is not part of a group.


The company has not yet filed accounts. Five Stars Football Limited's risk score was amended on 13/06/2012.