Share Transfers Agreed/Cooling off period

[itslegaltender]

A hostile receiver! great news! Jambogeddon back on.

[CropleyWasGod]

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Makes sense though is a very small % if thats case. Templeton's fee was reported as £700,000 so the £12k due would be less than 2%. The only certainty is the Yams cheated again.

Maybe they paid some, and that's all that's unpaid. Or maybe it was a flat sum agreed?

It's a football debt, though, so Stenny have a good chance of getting it back.

[s.a.m]

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Cant be bothered looking back through the pages of this thead but was that not the administrator appointed months ago when it first came to light?

Certainly remember chuckling at the 'imaginative' name at the time!!

Looks like it:

http://sport.stv.tv/football/clubs/h...-in-lithuania/

[EK_Hibs]

So what does this mean in terms of the frozen shares now?
Are they now unfrozen? Anyone know?

[monktonharp]

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So what does this mean in terms of the frozen shares now?
Are they now unfrozen? Anyone know?

nope. I know virtually nowt about how this works, but they wont reveal the new admins(for ubig) for 30 days, sure I read that somewhere and our better informed chaps confirmed? also, is there not also a "cooling off" period with respect to a cva?

[EK_Hibs]

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nope. I know virtually nowt about how this works, but they wont reveal the new admins(for ubig) for 30 days, sure I read that somewhere and our better informed chaps confirmed? also, is there not also a "cooling off" period with respect to a cva?

BBC have already claimed today the UBIG Administrators are UAB Insolvensa....as initially intended in July.

[monktonharp]

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BBC have already claimed today the UBIG Administrators are UAB Insolvensa....as initially intended in July.

never trust the bbc as being gospel 30 day thing does apply though. possibly a period that is reqd, before they can defrost? cooling off? stop sweating before the storm arrives?

[greenginger]

I think there is 30 days to appeal the appointment, so 30 days before the admin. is definitely known.

[brog]

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Maybe they paid some, and that's all that's unpaid. Or maybe it was a flat sum agreed?

It's a football debt, though, so Stenny have a good chance of getting it back.

Yep, I had similar thoughts. Will agents count as a football debt? If yes could HW uni also claim as a footy debt? Update, I tried a quick reconciliation & it looks like agents are in there but HW are not.

[Ross4356]

BBCBMcLauchlin ‏@BBCBMcLauchlin 6m
Thursday 31st Oct is when Hearts should find out future of parent company UBIG. Bankruptcy administrator has been appointed#bbcsportscot

[s.a.m]

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I think there is 30 days to appeal the appointment, so 30 days before the admin. is definitely known.

Haven't they already appealed it?

[#FromTheCapital]

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BBCBMcLauchlin ‏@BBCBMcLauchlin 6m
Thursday 31st Oct is when Hearts should find out future of parent company UBIG. Bankruptcy administrator has been appointed#bbcsportscot

They don't have a future. Wonder what he's referring to here?

[Gus Fring]

Shares are still frozen, appointing an administrator doesn't change that as far as I know? My understanding is the administrator will be there to figure out what's happened at UBIG and how much it's all worth etc but that until such times as the lith authorities are satisfied nothing dodgy has been happening then nothing will be getting sold on or liquidated.

It's entirely possible, theoretically, that the Admin gets in and discovers UBIG have been up to all sort of illegal shenanigans and that Hearts played a vital part in all of this. Or it could be that nothing untoward happened at all and Hearts shares will be given to BDO in exchange for a bag of jelly babies and half a roll of sellotape. We all know which is the most likely outcome.

[Bostonhibby]

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Yep, I had similar thoughts. Will agents count as a football debt? If yes could HW uni also claim as a footy debt? Update, I tried a quick reconciliation & it looks like agents are in there but HW are not.

Pity, would be a real difficult one for HWU if they actually had to go to the trouble of finally doing something about collecting money from the yam.

[greenginger]

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Shares are still frozen, appointing an administrator doesn't change that as far as I know? My understanding is the administrator will be there to figure out what's happened at UBIG and how much it's all worth etc but that until such times as the lith authorities are satisfied nothing dodgy has been happening then nothing will be getting sold on or liquidated.

It's entirely possible, theoretically, that the Admin gets in and discovers UBIG have been up to all sort of illegal shenanigans and that Hearts played a vital part in all of this. Or it could be that nothing untoward happened at all and Hearts shares will be given to BDO in exchange for a bag of jelly babies and half a roll of sellotape. We all know which is the most likely outcome.

....and discovers UBIG have been up to all shorts of illegal shenanigans ! I think that's a certainty.


Have a read at what UBIG were up to in Bosnia.

http://www.lrytas.lt/verslas/rinkos-...nko-dvynys.htm


Money laundering on an industrial scale, Drug money, terrorists etc, bribing whole governments etc.

[PapillonVert]

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It's entirely possible, theoretically, that the Admin gets in and discovers UBIG have been up to all sort of illegal shenanigans and that Hearts played a vital part in all of this. Or it could be that nothing untoward happened at all and Hearts shares will be given to BDO in exchange for a bag of jelly babies and half a roll of sellotape. We all know which is the most likely outcome.

Actually, Bajillions, I don't know at all which is the likely outcome. It seems to me that ProudCheatsRUs are making a stonking job of distancing themselves from all the bad stuff whilst simultaneously claiming that all the good things happened irrespective of the financial doping. And the MSM are lapping it up.

How will they prove that 'Hearts' as opposed to individuals like Romanov played a vital role?

[Leithenhibby]

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Actually, Bajillions, I don't know at all which is the likely outcome. It seems to me that ProudCheatsRUs are making a stonking job of distancing themselves from all the bad stuff whilst simultaneously claiming that all the good things happened irrespective of the financial doping. And the MSM are lapping it up.

How will they prove that 'Hearts' as opposed to individuals like Romanov played a vital role?

I think it's the directors of the club that will carry the can. I'm lost to how they could pin anything on "them"..

[greenginger]

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I think it's the directors of the club that will carry the can. I'm lost to how they could pin anything on "them"..

There's a thousand page thread on Kickback slagging Rangers F C ( Deceased ) for all the financial crimes that went on in Govan.

Never once do they blame directors and not the Club.

[Dashing Bob S]

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Actually, Bajillions, I don't know at all which is the likely outcome. It seems to me that ProudCheatsRUs are making a stonking job of distancing themselves from all the bad stuff whilst simultaneously claiming that all the good things happened irrespective of the financial doping. And the MSM are lapping it up.

How will they prove that 'Hearts' as opposed to individuals like Romanov played a vital role?

Well, I would suspect, that being accountants, they would look at the transfer of monies over the years between Hearts and the other companies in the UBIG group. Hearts didn't get the money to pay those players from thin air, it came from the other companies in the group (and in some cases went from Hearts to them). So where did the UBIG money that funded Hearts come from? How much did board members of the club know?

This long-running fiasco may well be about to take the very nasty turning that some were long anticipating.

Whatever happens, it won't be good for them.

[Leithenhibby]

I found this old footie mag from Sep 1986 and just wanted to share!.....

In the Money.jpg

[inglisavhibs]

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Maybe they paid some, and that's all that's unpaid. Or maybe it was a flat sum agreed?

It's a football debt, though, so Stenny have a good chance of getting it back.

Stenny are not due any money from Hearts. They took their case to the league and were paid in full.I was at the game tonight with their board and asked the question.

[PatHead]

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Stenny are not due any money from Hearts. They took their case to the league and were paid in full.I was at the game tonight with their board and asked the question.

Serious question- Who paid the bill though?

[lapsedhibee]

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Serious question- Who paid the bill though?

I know STF, through an intermediary, settled some of the charity debts - could he have paid football debts as well?

[inglisavhibs]

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Serious question- Who paid the bill though?

I didn't ask but they were paid a good while ago. I think when Stenny went to the league, Hearts had a choice of paying up or the money being taken off their TV payments.

[Gus Fring]

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Actually, Bajillions, I don't know at all which is the likely outcome. It seems to me that ProudCheatsRUs are making a stonking job of distancing themselves from all the bad stuff whilst simultaneously claiming that all the good things happened irrespective of the financial doping. And the MSM are lapping it up.

How will they prove that 'Hearts' as opposed to individuals like Romanov played a vital role?

Hearts also convinced us lot in the media that they weren't going in to Admin and that the share issue was genuine. Whether it was 'Hearts' or just the bad man that run them, if the company was used at any part of any nefarious activity then the lithuanian authorities will keep the shares frozen until the investigation has been completed. The best way to think about why all the assets are frozen is it's like a crime scene, nobody touches anything and nothing leaves the room until the Police have gone over it with a fine tooth comb. The assets are all potential evidence and it's very unlikely the lith authorities will be rushed because some ****my wee robbing club in Scotland is in administration and would quite like to be sold to the fans.

Hearts fans think that Vladimir Romanov is like the lith equivalent of Fred Goodwin, he done some bad stuff but he'll never face justice.

In reality he's their equivalent of Bernie Madoff.

[clerriehibs]

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Hearts also convinced us lot in the media that they weren't going in to Admin and that the share issue was genuine. Whether it was 'Hearts' or just the bad man that run them, if the company was used at any part of any nefarious activity then the lithuanian authorities will keep the shares frozen until the investigation has been completed. The best way to think about why all the assets are frozen is it's like a crime scene, nobody touches anything and nothing leaves the room until the Police have gone over it with a fine tooth comb. The assets are all potential evidence and it's very unlikely the lith authorities will be rushed because some ****my wee robbing club in Scotland is in administration and would quite like to be sold to the fans.

Hearts fans think that Vladimir Romanov is like the lith equivalent of Fred Goodwin, he done some bad stuff but he'll never face justice.

In reality he's their equivalent of Bernie Madoff.

you were surely never convinced ... ?

[Weststandwanab]

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you were surely never convinced ... ?

Easily convinced me thinks.

[Dashing Bob S]

Just hearing that they have agreed a CVA.










Forthwith, their new designation will be: Charity Violating A-r-s-e-holes.

[Leithenhibby]

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There's a thousand page thread on Kickback slagging Rangers F C ( Deceased ) for all the financial crimes that went on in Govan.

Never once do they blame directors and not the Club.

For any football fan they go hand in hand, but I'm wondering how the authorities would pin anything on "Them"

The SPFL/SFL, yes, they will have their wee rule book and I'm sure will use it when the time is right...
Newco will go ballistic if not

Still so much to be said and done......

[PatHead]

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Just hearing that they have agreed a CVA.










Forthwith, their new designation will be: Charity Violating A-r-s-e-holes.

Are you serious with the CVA or is it a play on words? If so, who is the source?