Share Transfers Agreed/Cooling off period

[Waxy]

They could very well get liquidated.
But do they go to division three or the lowland league?

[gegs70]

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According to Barry, in this mornings EEN.

FOH bid £2M and £3.75m working capital.
Caravan Bob £1.8M and £3.2M.
Massone £4M and £0.

If those figures are accurate, only Massone's bid would come close to satisfying any CVA. By accepting any of the others, the creditors would be subsidising hearts operating costs this season.

GGTTH

Is the working capital is this the money they asume will run the club for a cple of seasons? If so FOH will rely on promises from supporters to be made each month.

Does this include tyncastle in the bids? Im sure if admin sold seperately it would make much more?

[Hibercelona]

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Ah, the ancient Chinese philosophy. Jambos are living in interesting times, are they not?


From my window I see the sunshine, I hear the the birdies singing in the trees. It's a beautiful day ...

Looks like 3 yams in a tree to me.

Snarfing money off "wee teams" just to prolong their inevitable doom. Vultures!

[--------]

Aw, gonnae no be nasty to the nice birdies?

When you compare a vulture to a Yam, it's the vulture who has grounds for legal action, not the Yam.

[Hibs07p]

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Is the working capital is this the money they asume will run the club for a cple of seasons? If so FOH will rely on promises from supporters to be made each month.

Does this include tyncastle in the bids? Im sure if admin sold seperately it would make much more?

I don't have a clue. One of our resident experts, CWG appears to be the "on call advisor" this morning. What is obvious though is that the first 2 bids are more beneficial to the debtors than the creditors. Something far wrong if that scenario was accepted, which I don't believe they will.

GGTTH

[Geo_1875]

I should have said the Massone bid is the most advantageous to the creditors and BDO. Cash for running costs shouldn't be of interest to them.

[BarneyK]

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I should have said the Massone bid is the most advantageous to the creditors and BDO. Cash for running costs shouldn't be of interest to them.

Wouldn't forcing the sale of Tynie be more advantageous compared to a £4 million CVA?

[--------]

Nasty carrion-devouring scavenger:



Nice birdie:



The Yams:

[Geo_1875]

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Wouldn't forcing the sale of Tynie be more advantageous compared to a £4 million CVA?

Probably but I'm only comparing the bids on the table. Could all be ***** though as these are figures quoted by BAnderson.

[Sanger]

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Surely if the Massone bid is £5 miliion then that doesn't mean the Liths will be getting £5 million? Do you not have to take into account the other creditors and BDO? Plus the Lithuanian side is two separate (albeit connected) debts?

at best the Liths in total get £4.5m from the unpopular liquidation of Tynie. This way they are not seen as killing the club. In a CVA their proportion of the debt is the amount their debt exceeds the assets they are secured on which will make them 90% of the creditors. So £5m gives them £4.5m and leaves Massone with the knife in his hands!

[HibeeMG]

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at best the Liths in total get £4.5m from the unpopular liquidation of Tynie. This way they are not seen as killing the club. In a CVA their proportion of the debt is the amount their debt exceeds the assets they are secured on which will make them 90% of the creditors. So £5m gives them £4.5m and leaves Massone with the knife in his hands!

But will they really care how they look? It's not as if it will affect any business of theirs in this country.

[Hibs07p]

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at best the Liths in total get £4.5m from the unpopular liquidation of Tynie. This way they are not seen as killing the club. In a CVA their proportion of the debt is the amount their debt exceeds the assets they are secured on which will make them 90% of the creditors. So £5m gives them £4.5m and leaves Massone with the knife in his hands!

Would BDO's fees be subtracted first from any sum offered towards a CVA, or would they receive them from the creditors?

GGTTH

[God Petrie]

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at best the Liths in total get £4.5m from the unpopular liquidation of Tynie. This way they are not seen as killing the club. In a CVA their proportion of the debt is the amount their debt exceeds the assets they are secured on which will make them 90% of the creditors. So £5m gives them £4.5m and leaves Massone with the knife in his hands!

Argh you're getting soft on your previous "liquidation now" stance and seem to be favouring Massone.

[Spike Mandela]

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at best the Liths in total get £4.5m from the unpopular liquidation of Tynie. This way they are not seen as killing the club. In a CVA their proportion of the debt is the amount their debt exceeds the assets they are secured on which will make them 90% of the creditors. So £5m gives them £4.5m and leaves Massone with the knife in his hands!

you sound like you have changed your tune. Weren't you 100% sure they would get liquidated.

[Waxy]

I think the plan is to liquidate once the SPFL is underway.
They then will have a better chance of not being thrown out.

[Hibercelona]

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But will they really care how they look? It's not as if it will affect any business of theirs in this country.

Precisely.

I have a feeling that the yam's "Lithuania love-in" is about to come to an abrupt end.

[Liberal Hibby]

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you sound like you have changed your tune. Weren't you 100% sure they would get liquidated.

Given they are likely to get at least £7 m for Tynie on the open market for redevelopment, then unless they come up with a couple of mill more then liquidation is surely still favourite.

[hibs0666]

Based on these bids it looks like the yams debt after administration will be somewhere around £8 million except, this time around, they'll actually be paying interest.

[Sanger]

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you sound like you have changed your tune. Weren't you 100% sure they would get liquidated.

Eventually if Massone takes charge. In the next few weeks if he does not. Did not think anybody would come in with £5m upfront on the table. But the question is as I poised before does 5 star really have the money and what are the conditions they have laid down for the bid. BDO saying none of the bids acceptable. Probability wise I am still going 70% certainty of liquidation now against 100% later! Sit back and enjoy the ride!

[CropleyWasGod]

C'mon guys, a lot of you are basing your thoughts on what Barry Anderson says the bids are. That's not the most reliable of evidence.

As for the Record, I have my doubts about that amount too.

Get yerselves over to the Private Members' Forum. Here endeth the advert.

[Treadstone]

The beyond parody Ian 'I'm an MP' Murray latest Twitter offering.

Ian Murray MP ‏@IanMurrayMP38m
“@AcanthusHome: Acanthus Decorating Sale! Paint, paper, fabrics & lighting - over 50% off items! pic.twitter.com/7A0TTjFUn6” gr8 local business.

[Part/Time Supporter]

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C'mon guys, a lot of you are basing your thoughts on what Barry Anderson says the bids are. That's not the most reliable of evidence.

As for the Record, I have my doubts about that amount too.

Get yerselves over to the Private Members' Forum. Here endeth the advert.

Barry's numbers most likely include all sorts of caveats and conditions of the "we'll pay you x now, y later and z if Hearts stay up / win the cup / qualify for Europe" variety. That was the impression I took when Jackson explained why the bids as made this week would not be acceptable to the Lithuanians.

For context, the offer made by the Blue Knights for Rangers included a payment of £2M if Rangers reached the quarter finals of the Champions League.

No, really.

[Treadstone]

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Barry's numbers most likely include all sorts of caveats and conditions of the "we'll pay you x now, y later and z if Hearts stay up / win the cup / qualify for Europe" variety. That was the impression I took when Jackson explained why the bids as made this week would not be acceptable to the Lithuanians.

For context, the offer made by the Blue Knights for Rangers included a payment of £2M if Rangers reached the quarter finals of the Champions League.

No, really.

Damn you PTS. Got me thinking, who were the last Scottish team to do it ? Dundee Utd - 1984. I'm away to check.

[Hibercelona]

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The beyond parody Ian 'I'm an MP' Murray latest Twitter offering.

Ian Murray MP ‏@IanMurrayMP38m
“@AcanthusHome: Acanthus Decorating Sale! Paint, paper, fabrics & lighting - over 50% off items! pic.twitter.com/7A0TTjFUn6” gr8 local business.

Ian Black will be chuffed about that. Over 50% off his work tools.

[The Falcon]

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Argh you're getting soft on your previous "liquidation now" stance and seem to be favouring Massone.

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you sound like you have changed your tune. Weren't you 100% sure they would get liquidated.

Thats my worry.

And as CWG said £x would go to the secured and £y would go towards a CVA. Allisbarry has Massone bidding £4m, not £5m, which would reduce the pot to both parties considerably, less BDO's fees. And the new owner also picks up any cash that BDO has raised? Is that right?

I also assume that "working capital" does not benefit the creditors 1p but benefits Hearts greatly.

[CropleyWasGod]

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Barry's numbers most likely include all sorts of caveats and conditions of the "we'll pay you x now, y later and z if Hearts stay up / win the cup / qualify for Europe" variety. That was the impression I took when Jackson explained why the bids as made this week would not be acceptable to the Lithuanians.

For context, the offer made by the Blue Knights for Rangers included a payment of £2M if Rangers reached the quarter finals of the Champions League.

No, really.

Yeah. The £5m quoted may be a headline figure, but only if all of the above etc etc.

[Hibernia Na Eir]

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I think the plan is to liquidate once the SPFL is underway.
They then will have a better chance of not being thrown out.

certainly would be the Hearts way. More clubs going in administration will no doubt follow the same jammy routes in future.

[Sanger]

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Given they are likely to get at least £7 m for Tynie on the open market for redevelopment, then unless they come up with a couple of mill more then liquidation is surely still favourite.

I've seen a valuation of £4.5m tops for Tynie. It's a buy and hold when property prices are falling in Edinburgh and plenty of more attractive sites and empty new builds. £7m way to high.

[Part/Time Supporter]

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Damn you PTS. Got me thinking, who were the last Scottish team to do it ? Dundee Utd - 1984. I'm away to check.

Huns in 92/93 played in the (first ever) Champions League groups, which were 2 groups of 4 with the winners progressing to the final. Huns finished second to Sauzee's Marseille.

[greenginger]

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Barry's numbers most likely include all sorts of caveats and conditions of the "we'll pay you x now, y later and z if Hearts stay up / win the cup / qualify for Europe" variety. That was the impression I took when Jackson explained why the bids as made this week would not be acceptable to the Lithuanians.

For context, the offer made by the Blue Knights for Rangers included a payment of £2M if Rangers reached the quarter finals of the Champions League.

No, really.

Why would the Liths. be interested in any way ,shape or form, in the amount the new owners are going to put in to run the Club after they have retied back to Lithland with a few pennies in exchange for the £ 70 odd million Ukio Bankas are down on the deal when Vlad decided to buy Hearts.

The Liths should play hardball. FOH are in this to save Hearts so tell them its £ 2million for the Club and a 2 year lease on the ground and then it goes on the open market. Plenty time to establish the true possibilities for the site and time for FOH to raise cash for the purchase price or to have sold their cream of Scottish youth to Chelsea, PSG or whoever.