Share Transfers Agreed/Cooling off period

[greenginger]

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Is the point that they have to be sure that the business exiting administration is stable? I think in a liquidation they wouldn't be required to give a toss about who was buying what, but when trying to keep it as a going concern they have to be sure the new owners will be able to keep it going?

And relying a bunch of muppets not to cancel their standing orders is a pillar of stability in the FoH offer ?

[Springbank]

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And relying a bunch of muppets not to cancel their standing orders is a pillar of stability in the FoH offer ?

Are Hearts fans loyal when results go poorly?
To put it one way, hearts began the 85/86 season poorly and finished it strongly (until the final ten mins or thereabouts)

The crowds in their games v Dundee that season tell you this...

They took 8000 to dens in may 1986
They had a crowd of 7900 at tynecastle in autumn 1985

They will disappear like snow off a formidable lady when results go wrong

[weecounty hibby]

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Are Hearts fans loyal when results go poorly?
To put it one way, hearts began the 85/86 season poorly and finished it strongly (until the final ten mins or thereabouts)

The crowds in their games v Dundee that season tell you this...

They took 8000 to dens in may 1986
They had a crowd of 7900 at tynecastle in autumn 1985

They will disappear like snow off a formidable lady when results go wrong

That can't be right. They sell out every game, all the time. Even when they're not playing Tynecastle is sold out just to watch the groundsman cutting the grass. Or as it is now some random punter who has volunteered to cut the grass. Or to watch someone painting the steps even.

[CropleyWasGod]

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Ignoring Massone's previous indiscretions in football matters, surely his £ 4 million bid for the CVA and Nil working capital is a more attractive offer than Club 9.

£ 1.8 million for a CVA and £ 3.2 million for working capital ( Buying the club by giving money to themselves is a new slant on Yamonomics )

If Massone wants to fund the club by covering new bank borrowing for them, or by simply reducing expenditure and cancelling season tickets, that should not be a factor in choosing a preferred bidder.

Or, am I missing something ?

BDO do have to have an eye on how the business is to be funded post-administration. If, in their opinion, there is little chance of it being adequately funded, they might take the view that they would be as well liquidating.

I reckon that part of their "proof of funding" work will be to establish just how Massone intends to fund the business. If he can satisfy them that he has reasonable plans (for example, not honouring ST's ) then he might just get the nod.

[LongshanksED]

Any idea of when BDO are gonna announce the preferred bidder or that lack of reasonable bids means liquidation and/or a firesale?

[Dunderhall]

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Any idea of when BDO are gonna announce the preferred bidder or that lack of reasonable bids means liquidation and/or a firesale?

They announced last Friday a week's deadline for bids to show proof of funding.
That may narrow down the bids so they enter further discussions only with those who have some potential, assuming the potential is there.

[sidneyhibbie]

Sidney has contacts who have told me that Massone has failed fit and proper person test he was told to get others to front his bid but wanted to be billy big baws so he is out, The shoe salesmans backers are out all that leaves is the foh who need to have a meeting to decide when the next meeting will be.

Because of this BDO Are out

its the BIG L Boys

Sidney.

[Cabbage East]

Sidney.

[Hibbyradge]

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Sidney has contacts who have told me that Massone has failed fit and proper person test he was told to get others to front his bid but wanted to be billy big baws so he is out, The shoe salesmans backers are out all that leaves is the foh who need to have a meeting to decide when the next meeting will be.

Because of this BDO Are out

its the BIG L Boys

Sidney.

Sid

Put down the Stella, leave the DMT alone and head to bed.

You'll thank me in the morning

[BigKev]

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Sidney has contacts who have told me that Massone has failed fit and proper person test he was told to get others to front his bid but wanted to be billy big baws so he is out, The shoe salesmans backers are out all that leaves is the foh who need to have a meeting to decide when the next meeting will be.

Because of this BDO Are out

its the BIG L Boys

Sidney.

BigKev loves Sidney's posts!

However I'd follow Hibbyradge's advice tonight if I were him.

[The Green Goblin]

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Sidney.

[SHODAN]

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Are Hearts fans loyal when results go poorly?
To put it one way, hearts began the 85/86 season poorly and finished it strongly (until the final ten mins or thereabouts)

The crowds in their games v Dundee that season tell you this...

They took 8000 to dens in may 1986
They had a crowd of 7900 at tynecastle in autumn 1985

They will disappear like snow off a formidable lady when results go wrong

They'll account non-attending ST holders in their attendances this season to perpetuate the myth. They always do.

[Geo_1875]

11,000 ST holders bumped, 7,000 walk-ups = 18,000 attendance although their capacity is a lot less

[Hibs07p]

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Any idea of when BDO are gonna announce the preferred bidder or that lack of reasonable bids means liquidation and/or a firesale?

Proof of funding to be in BDO's possession by tomorrow.

http://www.scotsman.com/sport/footba...ding-1-3010061

[Leishy1995]

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11,000 ST holders bumped, 7,000 walk-ups = 18,000 attendance although their capacity is a lot less

Might want to factor in the 400,000 hearts fans who live just in Gorgie that will pay to stand outside the stadium.

[Caversham Green]

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BDO do have to have an eye on how the business is to be funded post-administration. If, in their opinion, there is little chance of it being adequately funded, they might take the view that they would be as well liquidating.

I reckon that part of their "proof of funding" work will be to establish just how Massone intends to fund the business. If he can satisfy them that he has reasonable plans (for example, not honouring ST's ) then he might just get the nod.

I'm thinking Massone's plan might be to sell the club sans Tynie to FoH and let it out short term until they can build a new bellenddrome after which he will develop the land. Of course he might just chuck them out after a couple of years whether or not they've got a new home.

He doesn't need working capital for that and the fit and proper person thing wouldn't apply.

[clerriehibs]

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Proof of funding to be in BDO's possession by tomorrow.

http://www.scotsman.com/sport/footba...ding-1-3010061

What a slow-witted tosser that dave anderson is. Just has to be a relative of banderson. That toilet paper "report" that Edinburgh council paid something like £35k for and stank of "homfc supporter" was all part of his pathetic scheming, and now, having been 'encouraged' out of his council job, he has the time to associate with another ropey geezer. Surprised he's not in the massone camp to tell the truth.

[Treadstone]

Mon the Massone.
I can already see a Swynie car park hullabaloo with medals Mackay going bomberesque "Wherz ra deeds?" And "Let's starve him oot"

[Ozyhibby]

You would think that proof of funding should be included with the original bid so that all this faffing about could be avoided.

[LeithSqualk]

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Mon the Massone.
I can already see a Swynie car park hullabaloo with medals Mackay going bomberesque "Wherz ra deeds?" And "Let's starve him oot"

The pink hoose must be saved

[CropleyWasGod]

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I'm thinking Massone's plan might be to sell the club sans Tynie to FoH and let it out short term until they can build a new bellenddrome after which he will develop the land. Of course he might just chuck them out after a couple of years whether or not they've got a new home.

He doesn't need working capital for that and the fit and proper person thing wouldn't apply.

Would that constitute a transfer of licence, a la Sevco?

[Caversham Green]

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Would that constitute a transfer of licence, a la Sevco?

Possibly not. Massone buys the whole bunch, 'sells' the PBS to a new company and then passes the original company (the one that's only two years younger than Hibs and to all legal and logical intents is the football club) to FoH - for another fee of course.

[CropleyWasGod]

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Possibly not. Massone buys the whole bunch, 'sells' the PBS to a new company and then passes the original company (the one that's only two years younger than Hibs and to all legal and logical intents is the football club) to FoH - for another fee of course.

Ok, I follow.

You want to delete this, lest anyone over there gets any ideas?

[Caversham Green]

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Ok, I follow.

You want to delete this, lest anyone over there gets any ideas?

A fair point, but the arrangement would really just extend the comedy a bit longer. They all hate Massone - I believe FoH have spoken out against him, all of their 'pledges' would go to him by way of rent and then he'd chuck them out after a couple of years and they'd be in at least as bad a situation as they are now.

It's all good.

[Moulin Yarns]

Caversham and Cropley, what a double act, the new Morecambe and Wise

[CropleyWasGod]

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A fair point, but the arrangement would really just extend the comedy a bit longer. They all hate Massone - I believe FoH have spoken out against him, all of their 'pledges' would go to him by way of rent and then he'd chuck them out after a couple of years and they'd be in at least as bad a situation as they are now.

It's all good.

It's almost better.

Rock - give all your money to a guy you hate.

Hard place - don't give all your money to him. Club dies.

[Spike Mandela]

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Proof of funding to be in BDO's possession by tomorrow.

http://www.scotsman.com/sport/footba...ding-1-3010061

So, what timescale between proof of funding and naming of preferred bidder? Thursday or Friday perhaps?

[CropleyWasGod]

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So, what timescale between proof of funding and naming of preferred bidder? Thursday or Friday perhaps?

Wouldn't expect it that soon, TBH. BDO will have to do their own work on the "proof".

[Spike Mandela]

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Wouldn't expect it that soon, TBH. BDO will have to do their own work on the "proof".

Thought it might be as simple as statement from bank account(s) then a phonecall to said bank. Still I suppose BDO need to earn their £500 a minute fee.

[CropleyWasGod]

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Thought it might be as simple as statement from bank account(s) then a phonecall to said bank. Still I suppose BDO need to earn their £500 a minute fee.

... that's straight out of the David Murray book of Due Diligence.