Share Transfers Agreed/Cooling off period

[Bostonhibby]

This quote is hidden because you are ignoring this member. Show Quote

Thought he had been kicked off kickback?

He's a famous writer of wordy ingratiating drivel, so he is out there in the ether somewhere, maybe even on here now in one if his any guises..............as long as his ma lets him.

[Ozyhibby]

This quote is hidden because you are ignoring this member. Show Quote

The Lithuanians who have the security over Tyne (i.e. the land) have a sum in mind which they believe that land is worth if it is sold on the open market.

The bidders need to satisfy not only the creditors via a CVA but also the holders of the security over the land. They (the Lithuanians) hold the aces because they hold the security over the land. If that's the only money-realisable asset (it seems to be so) then they are due all the money that comes from realising that asset (assuming it is less than the total they are owed = more than likely). Their debt (£15m) has to be paid first before anyone is paid because they are secured creditors.

So, if you are the secured creditor, you need to get as much from the bidders as you could get from an open market sale of the land.

The Lithuanians think the land is worth £5m (+++++++ depending on whose valuation you believe) on the open market, all of which (minus expenses) would go to them. Leaving SFA for the other creditors with zero.

The current offers are for the club + assets as a going concern with very small amounts for a CVA.

From the secured creditors POV these are rubbish offers because they believe they could realise more through a liquidation even though they might not get all their cash back.

The liquidators of the secured creditors are under a legal obligation to get the best possible price for the secured assets. If FoH and the other party can't meet their requirements in this regards, the secured creditor can force a liquidation in order to sell the secured asset (Tynie/land) and get some of their money back.

I think.

From the secured creditors point of view, if they accept a cva then they have to share some of the money with the unsecured creditors or they will reject the cva?
But if the proceed to liquidation they will repossess the PBS and get to keep the proceeds themselves?
Is that about right?

[Treadstone]

This quote is hidden because you are ignoring this member. Show Quote

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.

Does #allisbathgate know this ?

[worcesterhibby]

This quote is hidden because you are ignoring this member. Show Quote

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.

Sounds like a "SMART" idea

[PapillonVert]

This quote is hidden because you are ignoring this member. Show Quote

From the secured creditors point of view, if they accept a cva then they have to share some of the money with the unsecured creditors or they will reject the cva?
But if the proceed to liquidation they will repossess the PBS and get to keep the proceeds themselves?
Is that about right?

My non-financial expert PoV FWIW, why would a secured creditor accept a CVA if it could get more from a liquidation? As was said previously by Ginandtonic (sic) on behalf of the Lithuanians, "the bidders need to up their offers by millions" (or words to that effect).

In other words, as I understand it, the bidders need to come up with substantially more than they have so far to avoid liquidation.

[Pretty Boy]

This quote is hidden because you are ignoring this member. Show Quote

Does #allisbathgate know this ?

I'd be surprised if he does.

Firstly because the Scotsman seems nothing more than a vehicle for Hearts to tell supporters what they want to hear. Secondly because no formal moves have started yet, I found out somewhat due to a slip of the tongue.

The holding company of the developer in question also has a diverse portfolio of businesses and the main development income now comes from abroad so unlikely they would be overly concerned about upsetting the yams in the short term.

This quote is hidden because you are ignoring this member. Show Quote

Sounds like a "SMART" idea

Close but no cigar.

[Fat Penlon]

Can anyone (maybe sergey) remind me of what happened to Kaunas FC when Romanov stopped using other people's money to fund them?

[Sergey]

This quote is hidden because you are ignoring this member. Show Quote

Can anyone (maybe sergey) remind me of what happened to Kaunas FC when Romanov stopped using other people's money to fund them?

They resigned from A-Lyga and turned to amateur status and plied their trade in what's best described as ' Lithuanian Pub League' matches. Still amateur to this day. From what I've been told, they'll fold completely in the coming months.

His other club, MTZ RIPO withdrew from the Belarus league during the 2012 season leaving the league in turmoil and they also went amateur. They re-branded (can't remember new name) and are now resigned to history.

Good things do come in three's, don't they?

[Kato]

This quote is hidden because you are ignoring this member. Show Quote

Who sponsors Hearts again Quite happy for his football club to take their cash ....

Is that the million quid they gave them you're talking about?

[justlikebrazil]

This quote is hidden because you are ignoring this member. Show Quote

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.

Is it possible for a property developer to make contact with the Lithuanians outwith BDO and make a bid for Tynecastle

[hibees 7062]

This quote is hidden because you are ignoring this member. Show Quote

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.

Just one PB ?

[Pretty Boy]

This quote is hidden because you are ignoring this member. Show Quote

Just one PB ?

1 that i'm aware off, there may be more in that area. There's certainly plenty in Edinburgh.

Ugly, ugly buildings (the ones near Tynecastle).

[hibees 7062]

This quote is hidden because you are ignoring this member. Show Quote

1 that i'm aware off, there may be more in that area. There's certainly plenty in Edinburgh.

Ugly, ugly buildings (the ones near Tynecastle).

I thought it was the brothers that built all over gorgie . This would be right up their street and they wouldnd give a F about heartz

[The Green Goblin]

This quote is hidden because you are ignoring this member. Show Quote

Thought he had been kicked off kickback?

Imagine being a yam roaster so bad that even Kickback launch you....

[Jack]

This quote is hidden because you are ignoring this member. Show Quote

Ugly, ugly buildings (the ones near Tynecastle).

You're very good at not revealing your sources, that doesn't cut down the number at all!

[Hibs07p]

If it's the builders I'm thinking about, their website is decked out in nice colours. I worked on one of their developments in Muirston Place around 1987/88.

GGTTH

[monktonharp]

This quote is hidden because you are ignoring this member. Show Quote

I wonder if the Lithuanians have someone already in the background who is not interested in the football club but just getting a hold of the land?

Hence the hint about millions more being needed and the underlying hint of those millions being forthcoming tout de suite - or else.

Just wondered. After all, if you were only interested in the land, why pfaff around with the administrators of HMFC and all this 'going concern' nonsense rather than go straight to the Lithuanians who are the real decision makers and let them know you are ready to buy and pay x amount if it's a liquidation sale? Tactically, you would also want to see the liquidation in process asap hence the pressure on BDO to move things along.

That way the Lithuanians can force FoH and Massone either to come up with a much better offer prontissimo or they proceed straight to liquidation.

Not much reason to hang around whilst BDO and FoH count the pennies and halfpennies in the kiddies' piggybanks and try to sell half-stale buns for ten a penny and still be millions short when you could get your hands on some real cash through a liquidation sale.

the Chinese, biggest population in the world as everyone knows, are buying up land ,properties , etc all over the place. Edin. quarter mile for example. alright, it's virtually built but what's to stop them gettin' a finger in the pie buying up disused premises next? someone mentioned a lot of money sloshing around, a few pages back but when it comes to a lot of money sloshing around, there are some very intelligent, business people with a lot of clout in the ever growing Chinese community in the whole of the UK.

[Pretty Boy]

This quote is hidden because you are ignoring this member. Show Quote

You're very good at not revealing your sources, that doesn't cut down the number at all!

The PM board is your friend.

[bingo70]

This quote is hidden because you are ignoring this member. Show Quote

the Chinese, biggest population in the world as everyone knows, are buying up land ,properties , etc all over the place. Edin. quarter mile for example. alright, it's virtually built but what's to stop them gettin' a finger in the pie buying up disused premises next? someone mentioned a lot of money sloshing around, a few pages back but when it comes to a lot of money sloshing around, there are some very intelligent, business people with a lot of clout in the ever growing Chinese community in the whole of the UK.

Saw on the news that the Chinese are trying to improve relations with the UK so once Ian Murray mp and George foulkes have a word with their heid honcho there'll no be a Chinese bulldozer in site

[hibees 7062]

This quote is hidden because you are ignoring this member. Show Quote

If it's the builders I'm thinking about, their website is decked out in nice colours. I worked on one of their developments in Muirston Place around 1987/88.

GGTTH

Me to , dont you think tiny is right up their street ?

[Hibs07p]

This quote is hidden because you are ignoring this member. Show Quote

Me to , dont you think tiny is right up their street ?

Definitely, and agreed, they wouldn't give a *****, to turn a profit. Their online portfolio is quite impressive too.

GGTTH

[sidneyhibbie]

This quote is hidden because you are ignoring this member. Show Quote

If it's the builders I'm thinking about, their website is decked out in nice colours. I worked on one of their developments in Muirston Place around 1987/88.

GGTTH

Details please ? i think a letter should be sent.

[Hibs07p]

This quote is hidden because you are ignoring this member. Show Quote

Details please ? i think a letter should be sent.

Sidney, Hibs07p believes he should see the quality of your correspondence previously sent, before he can reveal his knowledge of building developers, that allegedly might have an interest, in purchasing Tinnie.

GGTTH

[monktonharp]

This quote is hidden because you are ignoring this member. Show Quote

I thought it was the brothers that built all over gorgie . This would be right up their street and they wouldnd give a F about heartz

I am now inTEAGUED as to what's next, unless it was approaching MILLER time, but surely no Edin. based developer would have the HART to take on a project like Tynie?

[HUTCHYHIBBY]

This quote is hidden because you are ignoring this member. Show Quote

the Chinese, biggest population in the world as everyone knows, are buying up land ,properties , etc all over the place. Edin. quarter mile for example. alright, it's virtually built but what's to stop them gettin' a finger in the pie buying up disused premises next? someone mentioned a lot of money sloshing around, a few pages back but when it comes to a lot of money sloshing around, there are some very intelligent, business people with a lot of clout in the ever growing Chinese community in the whole of the UK.

Certainly seems to be a Far East invasion taking place in the Slateford area recently.

[jae]

This quote is hidden because you are ignoring this member. Show Quote

I am now inTEAGUED as to what's next, unless it was approaching MILLER time, but surely no Edin. based developer would have the HART to take on a project like Tynie?

AM A wee bit sure a certain developer was linked with a rumoured takeover a wee while back.

[green glory]

This quote is hidden because you are ignoring this member. Show Quote

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.

Smart's ?

[Kaiser1962]

This quote is hidden because you are ignoring this member. Show Quote

They resigned from A-Lyga and turned to amateur status and plied their trade in what's best described as ' Lithuanian Pub League' matches. Still amateur to this day. From what I've been told, they'll fold completely in the coming months.

His other club, MTZ RIPO withdrew from the Belarus league during the 2012 season leaving the league in turmoil and they also went amateur. They re-branded (can't remember new name) and are now resigned to history.

Good things do come in three's, don't they?

His diversification into football has not really went well. Is that accurate?

[IndieHibby]

Apologies if the answer to this question has been posted previously (believe me - I do try to keep up, but this story is the gift that is too generous!);
what mileage is there in the stories which went about recently about planning permission on Tynecastle? Can the land be sold on the open market or are there 'restrictions'?

[Just Alf]

This quote is hidden because you are ignoring this member. Show Quote

Apologies if the answer to this question has been posted previously (believe me - I do try to keep up, but this story is the gift that is too generous!);
what mileage is there in the stories which went about recently about planning permission on Tynecastle? Can the land be sold on the open market or are there 'restrictions'?

It's ok, this keeps coming up.

In the sales particulars for the old school (which is right next door to the ethanol tanks) The council have stated
McFarlan Smith are no longer an issue (due to changes in use etc within the plant)
The ethanol tanks from british distillers do still come into play, although this impact may be reduced ( last I heard from an employee only one of the tanks are in use.)

For the school, the development can be offices (max 3 floors and something like 200 staff), retail outlets or storage.... This is more strict than the stadium which is further away. The plans showing the zoning impact on the stadium indicate it just the north west corner that's actually impacted.
On iPad so don't have it to hand but I have a map which I'll post later that shows the current position.

One other thing to add is that BD actively want to move their operation out to the site at Addiewell so all the above could disappear as an issue... That's why BD had agreed to move and finance half the costs when the yams were talking about redevelopment.... If the buyers of the school and the stadium were to share costs (unless they end up being the same company :D ) then they could relatively easily make all this go away!