Share Transfers Agreed/Cooling off period

[CropleyWasGod]

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Do we know how much the securities in favour of UKIO and/or UBIG are yet? And would this be excluded from any CVA vote? Also the Novikovas £100k is that not income from an asset that should be covered by the "floating charge"?

apologies in advance .


It must rankle with a lot of these smaller guys/ public bodies owed money that HMFC are sitting on £1m and they wont get their money.

One thing that has been clarified for me today is that UBIG have no security; all of their debt can "vote" in the CVA. UKIO's debt, insofar as it is unsecured (ie all but £6.8m), has a vote. They are roughly the same, about £8m.

Not sure about the Novikovas money. Think UKIO, as the sole secured creditor, will get that.

[sidneyhibbie]

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Am I missing something here ? They owe the police £18,500, is that going to be paid ? If it's not how can the possibly play any more home games ?

I Have already written to the police to highlight this fact no reply so far i intend to send a recorded delivery letter to them tomorrow demanding an answer and another letter to HWU

[Sanger]

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At £189k thus far, certainly not a waste of effort

My thinking now is that UBIG will get shafted, and that only UKIO will get anything, whether by a CVA or liquidation. Up until today, I wasn't sure about the security situation, but now that BDO have clarified it, I can't see any way of UBIG getting anything.

Ask me again tomorrow....

They are one and the same: the Lithuanian state and its people.

[bighairyfaeleith]

how much does it cost to police a game, anyone know how many games 18k equates to?

[Wat Dabney]

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But they are getting money for current work. That's the issue. Refusing to do any more games would be a daft decision commercially. They know that they'll get paid for these ones, so why would they turn it down?

...but do the police make money from football games? Does policing football games not just get in the way of catching criminals and keeping the public safe?

[The Falcon]

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One thing that has been clarified for me today is that UBIG have no security; all of their debt can "vote" in the CVA. UKIO's debt, insofar as it is unsecured (ie all but £6.8m), has vote. They are roughly the same, about £8m.

Not sure about the Novikovas money. Think UKIO, as the sole secured creditor, will get that.

Thanks

[70hibby]

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they ram their war hero stuff down our throats and yet we see they steal from "their own".

Oo I know a song about that:

You steal from your own,
You steal from your own,
You cheating bassas's,
You steal from your own.

[Iggy Pope]

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how much does it cost to police a game, anyone know how many games 18k equates to?

Does not sound like much. I would imagine any single game involving them and HIBERNIAN / celtic. / zombies / sheep would run past that figure.
The real figure must have got lost in lots of knuckles.

The NHS is interesting too.
One on site ambulance is a must every game. No ambulance = no game.
FACT I believe.

[Eternal Hibbie]

Now that the scale of the debt has been disclosed and the mismanagement and deceit laid bare I wonder what our widely regarded tightwad Rod makes of it all.

[LeithBoozy]

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Look it was all fair and above board, Rodders got almost 100% of the votes.Ask anyone who was at the AGM. Would I lie to you.

[clerriehibs]

Taking out a loan, to pay players, that was never going to be repaid (they had their eye on the admin finishing line) ... that is in no way self-sufficient.

SURELY grounds for the SPFL to launch them, as the SPL reserved the right to revise their adjudication after their investigation.

[Wat Dabney]

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Where's my statue?

[Glory Lurker]

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Where's my statue?

[21.05.2016]

What is the likliest outcome of tomorrows meeting between hearts and the SPFL?

[SMAXXA]

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90.7k due to the council plus another 2.6k for flats

Only £56 for TNT though - must have been that planning application.

Was the TNT for the explosives, maybe planning an insurance job blowing up tyni

[CropleyWasGod]

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What is the likliest outcome of tomorrows meeting between hearts and the SPFL?

It's the SFA.

[Iggy Pope]

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Where's my statue?

**** that is good!

[nonshinyfinish]

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Thanks guys i am trying my best every letter and Email i send is a nuclear bomb fired into the PBS my relentless pursuit of justice will continue till the bitter end

Sidney/Sydney/Sindey...anyone else starting to think that he Disney exist?

[HFC 0-7]

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At £189k thus far, certainly not a waste of effort

My thinking now is that UBIG will get shafted, and that only UKIO will get anything, whether by a CVA or liquidation. Up until today, I wasn't sure about the security situation, but now that BDO have clarified it, I can't see any way of UBIG getting anything.

Ask me again tomorrow....

How would ukio get anything from a CVA? From my understanding a cva can't be passed until Ukio's security is satisfied, unless they are proposing a cva for the club without Tynie? All the bids have been less than the security so will ukio not get everything and nothing left to even try the cva?

[SloopJB]

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It's the SFA.

Yeah, that's what I think the outcome will be too.

[Coco Bryce]

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Where's my statue?

Class.

[CropleyWasGod]

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How would ukio get anything from a CVA? From my understanding a cva can't be passed until Ukio's security is satisfied, unless they are proposing a cva for the club without Tynie? All the bids have been less than the security so will ukio not get everything and nothing left to even try the cva?

They won't. BDO have said there will be nothing for unsecured creditors.

So, for the CVA to pass, it will have to be Pars-style, nil/£.

[monktonharp]

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The original HMFC was founded in 1874 and incorporated in 1903 about a month earlier than Hibs. That 1874 incarnation, however, folded in March 1905 and started as a Newco in April 1905. If you recall the Rangers fiasco in that, in Scots Law, the corporate entity is inseperable from the club then this incarnation of the Yams is the original Sevco. The yams proudly claim titles won in 1895 1897 and Cups won in 1894,1899 and 1904 (yes, they went bust a year after winning a Scottish Cup, spooky or what?) whilst claiming Sevco are a new start with no history.


*Yes we folded in 1891 but we were not an incorporated body at the time so we were able to pick up where we left off.

ooooer! and yet, they insist on listing our problems about that period, in their match programme, every derby day doon gorgie way. they do have a tendancy to gloss over wee things that might otherwise put a more honest picture on things.

[jeffers]

Thanks CWG for responding to my query re policing costs. I'm not alone in appreciating the factual information you and others provide on their financial affairs.

I suppose it was wishful thinking on my part that the police would refuse to cover their subsequent games, but I wasn't aware that they were a profit making organisation ? I, probably incorrectly, thought they would just charge a club what it cost them to provide officers for the match and no more.

[CyberSauzee]

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It does seem somewhat strange that the UBIG debt has been reduced. I'd guess that it's the share money and part of their ST proceeds that's been hived off.

I'll see what I can find out about the Lith companies on the list.

And don't forget the £400k they received from HunNewCo for Lee Wallace back in February. £1.1M for the share fraud, the Wallace money and a combination of advance season ticket sales and SPL TV and prize money is enough to get circa £2M hived off to UBIG, and onwards to whatever Vlad's BVI company was called at the time.

[SuperAllyMcleod]

Hearts? Who are Hearts? Never heard of them!

[SaulGoodman]

Cringe.

This should be posted frequently when they die.

[nonshinyfinish]

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Cringe.

This should be posted frequently when they die.

The depths of delusion that they plumb would scare the s*** out of Jacques Cousteau.

[Treadstone]

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What is the likliest outcome of tomorrows meeting between hearts and the SPFL?

Signing ban from 1st September to 31st December.

[CyberSauzee]

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I'm intrigued by all the kaunas based companies that are owed money by hearts, how long have these companies been submitting invoices for hundreds of thousands?

What are these bills for?
Who are the directors of these companies?

I suspect I know the answers but would be good to get some proof

Don't forget that convicted nonces that are still on a club's books cannot possibly be expected to house themselves when they are loaned out to another club in the Empire. Far better to make sure that local Kaunas companies are paid over the odds to help convicted sex offenders.

As you say, who are the directors - cohorts of the Great Leader one suspects?