Share Transfers Agreed/Cooling off period

[The Green Goblin]

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Stank from the off imho.

Maybe more of a whiff of antique Brut aftershave. All very harmless nonsense if he is and no offence given that I can recall. Agree that a change of script might help his case...

[Pedantic_Hibee]

More to the point, has Sidney ever had a reply to any of his letters?

[monktonharp]

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http://www.15min.lt/naujiena/aktualu...tuva-59-359548


Vlad says he is going back to Lithuania at the end of the month.

Might be good news if he fights his corner and all the dirty washing gets an airing.

is that Ingin' Joanny, at the back o' Vlad?

today's EEN report mentions FoH preparing a Second bid. Have they not all submitted 2nd bids previously on advice from the Administrators? sure I read that somewhere.

[Kato]

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today's EEN report mentions FoH preparing a Second bid. Have they not all submitted 2nd bids previously on advice from the Administrators? sure I read that somewhere.

Yeah, they're going to buy Hibs as well and form a merger of both clubs. The brand new team will be called Heart of Midlothian and will play at (a debt free) Tynecastle.

[Jack]

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Whoa, whoa, whoa, boys! Have I missed something? Are you really accusing Sidney of being an undercover yam? Hibernian's great man of letters? I've not felt my belief system shaken like this since Nessie told me there's no Santa.

Hibernian's great man of letters lol

Its just that the letters are not always in the right order!

[CB_NO3]

BDO look to be a bunch of highland dancers. First of all they ask Hearts fans to shift 3000 season tickets to keep the club going till January, they done that and sold out their allocation for the derby yet there is still a funding gap. They were confident in getting out this mess then back tracked and said liquidation is very much a possibility still. They obviously know a lot more than they are letting on but they are taking the Hearts fans for a ride while charging 600 quid an hour.

FOH are desperate to buy the club, yet cancelled August DDs. I find that bizzare to say the least. Surely getting as much dosh as possible into the coffers would be their number one aim. Do they know more than they are letting on?

[Bostonhibby]

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Whoa, whoa, whoa, boys! Have I missed something? Are you really accusing Sidney of being an undercover yam? Hibernian's great man of letters? I've not felt my belief system shaken like this since Nessie told me there's no Santa.

Agree, I am hoping our greatest ever wordsmith is not punted, I was hoping he would last until at least Burns Night when he could enlighten us with a few pohums of his own for the occasion. If the yams go pop earlier I am sure Sindey will have played his part and have some words for us.

[Hibby Kay-Yay]

The more this drags on the more likely liquidation becomes.

[Hibbyradge]

FOH promised not to collect until they had a bid accepted.

I agree they could have had a handy amount collected if they'd actioned the D/Ds earlier, but they couldn't go back on their word.

Or else they'd look unprofessional. ..

[#FromTheCapital]

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FOH promised not to collect until they had a bid accepted.

I agree they could have had a handy amount collected if they'd actioned the D/Ds earlier, but they couldn't go back on their word.

Or else they'd look unprofessional. ..

They also promised to refund any payments minus a small admin charge if they were not successful. Contradicting themselves.

Looks unprofessional

[CropleyWasGod]

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BDO look to be a bunch of highland dancers. First of all they ask Hearts fans to shift 3000 season tickets to keep the club going till January, they done that and sold out their allocation for the derby yet there is still a funding gap. They were confident in getting out this mess then back tracked and said liquidation is very much a possibility still. They obviously know a lot more than they are letting on but they are taking the Hearts fans for a ride while charging 600 quid an hour.

FOH are desperate to buy the club, yet cancelled August DDs. I find that bizzare to say the least. Surely getting as much dosh as possible into the coffers would be their number one aim. Do they know more than they are letting on?

You've got your facts a bit muddled.

BDO asked for the ST money to enable Hearts to make it until the start of the season. Having done that, they now get TV money and everything else that goes along with trading.

They were never "confident in getting out this mess". They have always stressed the difficulties in the share ownership.

And they are not charging £600 per hour.

[brog]

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You've got your facts a bit muddled.

BDO asked for the ST money to enable Hearts to make it until the start of the season. Having done that, they now get TV money and everything else that goes along with trading.

They were never "confident in getting out this mess". They have always stressed the difficulties in the share ownership.

And they are not charging £600 per hour.

You're being a tad disingenuous here Crops. Of course the average rate is nowhere near £600 but the Partner, I'm assuming Bryan Jackson, had charged 150 hours at £658 through July 19 = £89,535. Although I'm sure BJ never said the actual words highlighted above, their level of confidence was much higher prior to the joke bids being received. It was at that point & after the reaction from Lithuania, as I'm sure you noted in a prior post, that BJ suddenly came out & reminded everyone that a CVA may not happen & that liquidation remained a distinct possibility. As I've mentioned a few times previously I do think BDO have allowed their role to be somewhat blurred between being saviour of Yams & getting the best deal for creditors. The nonsense when they regurgitated Foulkes' statement re PBS valuation & ability to build on the land was possibly the prime example. If both aims coincide then fine but if not then the latter must take precedence.
Meanwhile BDO's fees must now be £300,000 + while 24 members of staff at Yam FC are working for nothing. It's the rich wot gets the pleasure!

[Pedantic_Hibee]

I'm sure Bryan Jackson said himself that he can't help but foster an attachment to the club he's administrating on. Conflict of interest there my Beetlejuiced friend.

[CropleyWasGod]

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[/B]You're being a tad disingenuous here Crops. Of course the average rate is nowhere near £600 but the Partner, I'm assuming Bryan Jackson, had charged 150 hours at £658 through July 19 = £89,535. Although I'm sure BJ never said the actual words highlighted above, their level of confidence was much higher prior to the joke bids being received. It was at that point & after the reaction from Lithuania, as I'm sure you noted in a prior post, that BJ suddenly came out & reminded everyone that a CVA may not happen & that liquidation remained a distinct possibility. As I've mentioned a few times previously I do think BDO have allowed their role to be somewhat blurred between being saviour of Yams & getting the best deal for creditors. The nonsense when they regurgitated Foulkes' statement re PBS valuation & ability to build on the land was possibly the prime example. If both aims coincide then fine but if not then the latter must take precedence.
Meanwhile BDO's fees must now be £300,000 + while 24 members of staff at Yam FC are working for nothing. It's the rich wot gets the pleasure!

It's a pedantic point, sure, but the poster I was replying to said "BDO are charging £600 an hour". That is the kind of thing where Hibs.net myths take hold, and I wanted to nail it before it did.

As for their "level of confidence", of course they have to express confidence at that point. If they didn't, they wouldn't be doing their job properly. However, my point stands that they didn't ever say they would get out of the "mess".

Indeed, Trevor Birch also said at the outset that it was as bad a football insolvency as he'd ever seen.

[Kojock]

Statement by BDO 30th July

“Liquidation is always a possibility when a business is in administration, but we are confident that we can work with the bidders to produce an outcome that saves the club and provides an acceptable return to the creditors of Ukio Bankas. I believe that we are making progress towards a constructive solution and hopefully all parties will recognise that the best value will be realised by selling the club as a going concern.”

[lapsedhibee]

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Statement by BDO 30th July

“Liquidation is always a possibility when a business is in administration, but we are confident that we can work with the bidders to produce an outcome that saves the club and provides an acceptable return to the creditors of Ukio Bankas. I believe that we are making progress towards a constructive solution and hopefully all parties will recognise that the best value will be realised by selling the club as a going concern.”

I'd be just as happy as BeetleJuice to tell tall tales for £600 an hour like what BDO are charging.

[CB_NO3]

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You've got your facts a bit muddled.

BDO asked for the ST money to enable Hearts to make it until the start of the season. Having done that, they now get TV money and everything else that goes along with trading.

They were never "confident in getting out this mess". They have always stressed the difficulties in the share ownership.

And they are not charging £600 per hour.

Ok I dont know the exact figure but they are due alot of cash. Well if they survived to the start of the season they will survive till January as they can trade via ticket sales and so on, pretty sure everyone is due TV money in August too. As the other poster says BDO were confident at one stage. Maybe it was a lie to sell season tickets, who knows? The fact is they have chopped and changed their minds to suit themselves and there is nout the Hearts fans can do about it. Music to my ears.

Anyway, looks like we are down to one bidder. Now upto the FOH to find some pennies. Looks like a loan from Anne Budge might be in order to save the club.

[YehButNoBut]

New story on BBC site saying that BBC Scotland has learned that fans' group the Foundation of Hearts are now in pole position to be handed preferred bidder status for the club.

http://www.bbc.co.uk/sport/0/football/23614393

Foundation of Hearts in pole position for preferred bidder status

Fans' group the Foundation of Hearts are now in pole position to be handed preferred bidder status for the club, BBC Scotland has learned.

The only other group who are in the running are Five Stars Football Ltd who are led by the former chairman of Livingston, Angelo Massone.

However they have still to supply proof of funding to administrator BDO.

A deadline has been set for them to provide this, along with details of who is backing their bid financially.

The Foundation of Hearts' chairman is Ian Murray MP.

BDO are looking to offer preferred bidder status possibly before the end of August, but any deal must be agreed with the major creditors of the club.

BBC Scotland has also learned that objections have been lodged in a Lithuanian court over the proposed liquidation of Hearts' parent company UBIG.

The Lithuanian investment company own 50% of Hearts shares and until the court makes a decision on the future of the company, no sale of Hearts can be completed.

Sources in Lithuania expect a decision from the courts on UBIG to be made before the end of September.

[clerriehibs]

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It's a pedantic point, sure, but the poster I was replying to said "BDO are charging £600 an hour". That is the kind of thing where Hibs.net myths take hold, and I wanted to nail it before it did.

As for their "level of confidence", of course they have to express confidence at that point. If they didn't, they wouldn't be doing their job properly. However, my point stands that they didn't ever say they would get out of the "mess".

Indeed, Trevor Birch also said at the outset that it was as bad a football insolvency as he'd ever seen.

They are charging that; just not 24hrs per day.

[Part/Time Supporter]

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New story on BBC site...

http://www.bbc.co.uk/sport/0/football/23614393

Only new information there is that confirmation of the UBIG insolvency is dragging on for longer than expected.

[CropleyWasGod]

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Only new information there is that confirmation of the UBIG insolvency is dragging on for longer than expected.

... which won't help

[Dashing Bob S]

Basically just tweeting this as I'm disgusted at the Huns pathetic attempts to hog the 'financial incompetence' headlines.


Gorgie rules.

[1875Sean]

Can anyone on here get a hand on that pic of the female hearts fan hanging out a romanov out banner out of her window?

[monktonharp]

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Yeah, they're going to buy Hibs as well and form a merger of both clubs. The brand new team will be called Heart of Midlothian and will play at (a debt free) Tynecastle.

oh, so I was right. this is now their 3rd bid

[johnrebus]

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Basically just tweeting this as I'm disgusted at the Huns pathetic attempts to hog the 'finan
cial incompetence' headlines.


Gorgie rules.

Scotland is nothing without the famous The Glasgow Rangers.


Rule Britannia

[TrinityHibs]

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Can anyone on here get a hand on that pic of the female hearts fan hanging out a romanov out banner out of her window?

Google images Gorgie Munter will get you there

[Dashing Bob S]

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Scotland is nothing without the famous The Glasgow Rangers.


Rule Britannia

Can't mention them in the same breath. After 'we' won WW2 we then gave the Germans all our money under the Marshall Plan, so that they could eclipse us economically - Petrie style- by building a new infrastructure.

[21.05.2016]

Can someone please explain to me exactly how the FoH is going to be able to financially run the club season after season. Are they completely reliant on supporters direct debits?


Sorry if this seems a stupid question but I still can't see how this is really workable.

[CropleyWasGod]

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Can someone please explain to me exactly how the FoH is going to be able to financially run the club season after season. Are they completely reliant on supporters direct debits?


Sorry if this seems a stupid question but I still can't see how this is really workable.

Here's the theory, I think.

The direct debits, for this season, are supposed to keep the club afloat this year.

As of next season, the club will trade "normally", and be self-sustainable. The DD's will then be used to pay off whoever (Ann Budge? Ronnie Corbett? Kurt Wallander?) is putting the money up to purchase the club.

[lapsedhibee]

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After 'we' won WW2

Ltyf