Share Transfers Agreed/Cooling off period

[StevieC]

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so HMRC as a creditor will agree 2p in the pound ?

HMRC, as an unsecured creditor, will get the same as every other unsecured creditor.

[Jonnyboy]

I confess I've not been following this thread religiously so forgive me if this question has already been asked.

On what possible basis can BDO seriously consider that FOH's direct debit scheme forms a sound basis for continued survival?

I know my question is kinda rhetorical but I've asked it anyway

[CropleyWasGod]

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I confess I've not been following this thread religiously so forgive me if this question has already been asked.

On what possible basis can BDO seriously consider that FOH's direct debit scheme forms a sound basis for continued survival?

I know my question is kinda rhetorical but I've asked it anyway

In some ways, it's not for them to judge.

It's up to the funders to assess whether the scheme is sufficient to enable them to be repaid.

[The Tubs]

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I confess I've not been following this thread religiously so forgive me if this question has already been asked.

On what possible basis can BDO seriously consider that FOH's direct debit scheme forms a sound basis for continued survival?

I know my question is kinda rhetorical but I've asked it anyway

That's what I'd like to understand. Perhaps BDO have given UKIO some kind of assurance that, via the direct debit, they'll be able to pay for the only asset there is: the ground the stadium's built on. Would my wild speculation have any grounding in the reality of business deals and solid rationality?

[Jonnyboy]

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In some ways, it's not for them to judge.

It's up to the funders to assess whether the scheme is sufficient to enable them to be repaid.

Is it not BDO's duty to ensure ongoing stability as part of the deal?

[CropleyWasGod]

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Is it not BDO's duty to ensure ongoing stability as part of the deal?

It's part of their duty to rescue it as a Going Concern. Of course, that means that they have to have one eye on the immediate future of the company, but they can't hold its hand once it's out of admin.

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That's what I'd like to understand. Perhaps BDO have given UKIO some kind of assurance that, via the direct debit, they'll be able to pay for the only asset there is: the ground the stadium's built on. Would my wild speculation have any grounding in the reality of business deals and solid rationality?

The direct debits aren't paying for the stadium, though. They are paying for Working Capital this season (and next, IIRC). After that, they are to be used to repay the individuals who buy the shares.

[Aldo]

I have it on good authority that we've had a few 'guests' on here this evening and they are not taking too kindly to some of the comments made by some and in fact some quotes are being copied and pasted onto Brokeback.

So I will apologise now if this offends anyone but

For our guests from Brokeback and Yams alike. Not nice getting conned or for want of a better word robbed of money especially when your a charity or a small local business.

He took your money for shares by deception/fraud yet you are all still to ****ing thick to get it into your stupid little heads to realise what has happened.

You in my eyes will always be cheating, charity robbing ****bags and -Your Battalion (god rest their souls) will be Turning in their graves at the thought of your club robbing a poppy charity. To think it sort of symbolises them.

So get your cut a paste ready and slag away cos if I'm getting to you - Great.

Get it right up you you charity robbing low life's.

You have no shame.

Rant over.

[Jonnyboy]

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It's part of their duty to rescue it as a Going Concern. Of course, that means that they have to have one eye on the immediate future of the company, but they can't hold its hand once it's out of admin.

Cheers CWG. Just the thought of them paying such a small price for such major cheating turns my stomach.

Will The Rangers be pissed if Hertz don't face a similar punishment to them or is that just wishful thinking on my part?

[CropleyWasGod]

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Cheers CWG. Just the thought of them paying such a small price for such major cheating turns my stomach.

Will The Rangers be pissed if Hertz don't face a similar punishment to them or is that just wishful thinking on my part?

Rangers weren't punished, remember

If Hearts exit administration via the CVA, it's a different scenario to Rangers.

However, when has the truth mattered to the OF? Of course they'll be a tad miffed.

[SteveHFC]

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I have it on good authority that we've had a few 'guests' on here this evening and they are not taking too kindly to some of the comments made by some and in fact some quotes are being copied and pasted onto Brokeback.

So I will apologise now if this offends anyone but

For our guests from Brokeback and Yams alike. Not nice getting conned or for want of a better word robbed of money especially when your a charity or a small local business.

He took your money for shares by deception/fraud yet you are all still to ****ing thick to get it into your stupid little heads to realise what has happened.

You in my eyes will always be cheating, charity robbing ****bags and -Your Battalion (god rest their souls) will be Turning in their graves at the thought of your club robbing a poppy charity. To think it sort of symbolises them.

So get your cut a paste ready and slag away cos if I'm getting to you - Great.

Get it right up you you charity robbing low life's.

You have no shame.

Rant over.

[The Tubs]

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The direct debits aren't paying for the stadium, though. They are paying for Working Capital this season (and next, IIRC). After that, they are to be used to repay the individuals who buy the shares.

Thanks Mr God.

How will they pay for the stadium? Do they have a mystery sugardaddy lined up? Maybe Jimmy Saville left something to them in his will.

[monktonharp]

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The direct debits aren't paying for the stadium, though. They are paying for Working Capital this season (and next, IIRC). After that, they are to be used to repay the individuals who buy the shares.

just a slight "aside" Crops, but what the hell will senior Tax officials be thinking now/ that they or their junior officials agreed fairly long term agreements for repayment of monies well overdue by Hmofc? they almost offered an olive branch, and certainly gave them so much slack it's unbelievable. Now, the organisation that is Hmofc has thumbed it's nose at the public purse, robbed us blind of nigh on 2m or thereabouts. they'll be laughing all the way to the bank,as they collect the DD money.

[Ozyhibby]

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Don't forget the 2m owed to HMRC -that will need to be paid

The only debt they will now have is about £0.5m in football debts and about £3m to whoever is funding the CVA.

[CropleyWasGod]

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just a slight "aside" Crops, but what the hell will senior Tax officials be thinking now/ that they or their junior officials agreed fairly long term agreements for repayment of monies well overdue by Hmofc? they almost offered an olive branch, and certainly gave them so much slack it's unbelievable. Now, the organisation that is Hmofc has thumbed it's nose at the public purse, robbed us blind of nigh on 2m or thereabouts. they'll be laughing all the way to the bank,as they collect the DD money.

At the time, I thought that HMRC played it correctly, and I probably still do.

Had they gone in with all guns blazing, demanding full payment, then the club would've been wound up immediately and they would've got zip. However, what HMRC did was allow them some leeway, and actually did get a little bit of blood out of the stone.

[kaimendhibs]

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I have it on good authority that we've had a few 'guests' on here this evening and they are not taking too kindly to some of the comments made by some and in fact some quotes are being copied and pasted onto Brokeback.

So I will apologise now if this offends anyone but

For our guests from Brokeback and Yams alike. Not nice getting conned or for want of a better word robbed of money especially when your a charity or a small local business.

He took your money for shares by deception/fraud yet you are all still to ****ing thick to get it into your stupid little heads to realise what has happened.

You in my eyes will always be cheating, charity robbing ****bags and -Your Battalion (god rest their souls) will be Turning in their graves at the thought of your club robbing a poppy charity. To think it sort of symbolises them.

So get your cut a paste ready and slag away cos if I'm getting to you - Great.

Get it right up you you charity robbing low life's.

You have no shame.

Rant over.

Just made the mistake of taking a look over there, only confirmed what I already knew. They are shameless vermin, true **** of the earth. Nothing us confirmed that they will get CVA, really can't wait till they get smashed in the pus by a huge dose if realism. Slime


Sent from my iphone

[monktonharp]

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At the time, I thought that HMRC played it correctly, and I probably still do.

Had they gone in with all guns blazing, demanding full payment, then the club would've been wound up immediately and they would've got zip. However, what HMRC did was allow them some leeway, and actually did get a little bit of blood out of the stone.

WE all now wish that blood had been drained, at the point of contact!

[K-Zazu]

Why are they so confident about getting a cva agreed?

[basehibby]

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Why are they so confident about getting a cva agreed?

Yeah - I was wondering that too! It seems to me that they're still pining their hopes on a long shot - that the Liths will accept a considerably smaller settlement for the CVA than they could get for the land sale (don't know the details but I'm gathering that the CVA is significantly less than half of the saleable value of the land?!?).

Of course there will be costs associated with the land sale such as that of demolishing the asbestos-ridden monstrosity that is Tynie, agent & management fees, and a necessary time delay before the asset could be realised. But my mental arithmetic STILL sees a considerable difference between the sums which have been banded about by FOH and the realisable value of the PBS which would surely force the admins to see to their 1st duty towards their creditors by knocking back the CVA.

There might be more to it that I'm not comprehending but it seems to me that their chances can only be 50/50 at best even if the Liths have agreed to consider a CVA as reports suggest.

[Eyrie]

Can someone clarify this for me?

The biddies are putting the cash up front to acquire the PBS and the poppy stealers, then the fannies are meant to pay them back using the Save Hearts In Trouble DD scheme. But what happens when the fannies cancel the DDs because they realise they're just paying some millionaire from their hardly earned giros?

The biddies will still have to be repaid, so will money be diverted from paying wages and bills for the repayments? Or will the club's operating budget be unaffected by the cancellations and the biddies are left owning the poppy stealers?

[rcarter1]

Assuming that Hearts slide out of this, and HMRC get didly, they will have robbed about 3.4 pence of taxes from each man, woman and child in the United Kingdom.

[CropleyWasGod]

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Can someone clarify this for me?

The biddies are putting the cash up front to acquire the PBS and the poppy stealers, then the fannies are meant to pay them back using the Save Hearts In Trouble DD scheme. But what happens when the fannies cancel the DDs because they realise they're just paying some millionaire from their hardly earned giros?

The biddies will still have to be repaid, so will money be diverted from paying wages and bills for the repayments? Or will the club's operating budget be unaffected by the cancellations and the biddies are left owning the poppy stealers?

The Biddies will have robust agreements in place to ensure that they get their cash.

[Eyrie]

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The Biddies will have robust agreements in place to ensure that they get their cash.

Thanks - that means there is still some hope of them lingering in the lower leagues for years.

Or even better, a second admin event

[#FromTheCapital]

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Why are they so confident about getting a cva agreed?

Because the most important (only secured) creditor has accepted the offer. All that remains now is for the UBIG admins to play ball and their shares to be unfrozen before they're home and dry.

[basehibby]

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Assuming that Hearts slide out of this, and HMRC get didly, they will have robbed about 3.4 pence of taxes from each man, woman and child in the United Kingdom.

Somewhat dwarfed by the likes of Fred the Shred's £10K per man/woman/child hit - but all the same -

....and by the way - They already HAVE robbed us cos HMRC will get nowt regardless - the poppy stealing bassas!

[CropleyWasGod]

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Assuming that Hearts slide out of this, and HMRC get didly, they will have robbed about 3.4 pence of taxes from each man, woman and child in the United Kingdom.

There is no chance of HMRC getting anything in this process, whether Hearts "slide out" or not.

[rcarter1]

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There is no chance of HMRC getting anything in this process, whether Hearts "slide out" or not.

Fair enough, its just Id feel better about my 3.4 pence if they didnt slide out..

[K-Zazu]

Something will go wrong for them somewhere just a feeling. How can they just get the shares unfrozen?

[Leithenhibby]

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Something will go wrong for them somewhere just a feeling. How can they just get the shares unfrozen?

Has that happened yet, no.

Do they (HMFC) have the money for the shares?
Will UBIG hold them to ransom over the shares?

More importantly. Do UBIG have the shares. Maybe, just maybe, the mad man has them tucked away safe...

[Moon unit]

Felt for ages that these slime balls will squirm out of all this with not 1 iota of guilt or shame !
Like most Sociopaths and psychopaths they will deny any wrong doing, blame everyone else and in true Jambo style be bullish, pompous and full of their own **** ... Remember they don't do Dignity!

[#FromTheCapital]

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Something will go wrong for them somewhere just a feeling. How can they just get the shares unfrozen?

I hope you're right but I just can't see it. If UBIG's admins accept the CVA then I don't know why the government would keep the shares frozen? IIRC The whole reason they were frozen in the first place was so that vlad couldn't gain anything more from UBIG's assets while he was under investigation. With him out the picture for now and Lithuanian administrators controlling UBIG then surely they will defrost the hearts shares.