Share Transfers Agreed/Cooling off period

[Hermit Crab]

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

Where's your ambition, man? Is there no way we could relegate them on 2 Jan?

Would be nice but I reckon there's no chance unfortunately.

[Onion]

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

Where's your ambition, man? Is there no way we could relegate them on 2 Jan?

After Wed's horror, the very last team we want to play again is the Yams. If they get relegated it will be in spite of us rather than because so let's just leave it to the proper football teams to sort them out

[#FromTheCapital]

Take it there's no been much happening since the CVA announcement then? Sadly I don't think there's much chance of liquidation anymore. They'll prob stay in admin for a while yet until the UBIG shares problem is resolved. But ultimately I think it will be resolved, it's just a matter of when. They'll still struggle with FoH in charge and with the (hopefully) inevitable relegation. But in a few years they'll be back with a considerably better outlook and lower debt. Only problem they'll be left with will be their crumbling stadium and no funds to improve it unless god decides to do them a favour by lobbing a metior at it.

[SloopJB]

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

Take it there's no been much happening since the CVA announcement then? Sadly I don't think there's much chance of liquidation anymore. They'll prob stay in admin for a while yet until the UBIG shares problem is resolved. But ultimately I think it will be resolved, it's just a matter of when. They'll still struggle with FoH in charge and with the (hopefully) inevitable relegation. But in a few years they'll be back with a considerably better outlook and lower debt. Only problem they'll be left with will be their crumbling stadium and no funds to improve it unless god decides to do them a favour by lobbing a metior at it.

I have heard suggestions that the FOH is a cashless front to secure the club and will hand over everything in a debt for equity to those that fronted the money in the first place.
They are very optimistic.

Just sayin.

[bawheid]

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

Only problem they'll be left with will be their crumbling stadium and no funds to improve it unless god decides to do them a favour by lobbing a metior at it.

He tried that in December 1999 but the damn thing got caught in the back of the net.

[andrew70]

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

He tried that in December 1999 but the damn thing got caught in the back of the net.

^^^^ best post i've seen on here for ages.

[Jones28]

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

He tried that in December 1999 but the damn thing got caught in the back of the net.

[greenginger]

http://translate.googleusercontent.c...VHATOwz-RJqhng

Hope this keeps the shares in the freezer for a few years.

[Geo_1875]

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

http://translate.googleusercontent.c...VHATOwz-RJqhng

Hope this keeps the shares in the freezer for a few years.

"Republic of Srpska in Banja Luka"

Come on. Now they're just inventing countries.

[SaulGoodman]

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

"Republic of Srpska in Banja Luka"

Come on. Now they're just inventing countries.

It's actually an Anagram of '5-1 **** the hibs'

[Part/Time Supporter]

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

"Republic of Srpska in Banja Luka"

Come on. Now they're just inventing countries.

Banja Luka is a city. Republic Srpska is the government for the Serbian bits of Bosnia.

[Geo_1875]

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

Banja Luka is a city. Republic Srpska is the government for the Serbian bits of Bosnia.

So you say!!!

[Sanger]

Bloomberg:

Ukio Bankas Seeks 1.3b Litai Damages From Ex-Owners, Directors

Romanov has repeatedly denied wrongdoing; prosecutors in July began international search for Romanov, who left Lithuania in May, BNS news service reported

Some Ukio loans went to now also bankrupt Ukio Banko Investicine Grupe, through which Romanov controlled 79% of Scottish soccer club Heart of Midlothian

Lithuanian state deposit insurance, which borrowed money from govt for Ukio bankruptcy, is largest creditor

I think the fact that they are going after the directors/owners for the Lita 1.3 bn (£300 million) which is the rough cost of the bailout to make the depositors of Ukio whole. To me it means that the they are not going to hold Hearts responsible for the scam (although Bloomberg points out the Ukio’s loans went to UBIG and then on to Hearts something I have always maintained) and that will not punish what they see as an innocent party for Romanov’s £70 million Hearts scams. That to me leads me to believe that they will accept the CVA and at least obtain some of the money that Romanov blew.

[cabbageandribs1875]

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

One more reason why we need a top 6 finish.

the 4th league game against hertz would be at ER therefore they wouldn't get any more cash from a 4th game with us, unfortunately that would also mean us having to finish in the bottom 6

[Sergey]

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

98) Options BFW Nov 05 2013 14:37:56
Ukio Bankas Seeks 1.3b Litai Damages From Ex-Owners, Directors 91) ☆
it to insolvency
• NOTE: Romanov has repeatedly denied wrongdoing; prosecutors in July began
international search for Romanov, who left Lithuania in May, BNS news service
reported
• NOTE: Some Ukio loans went to now also bankrupt Ukio Banko Investicine Grupe,
through which Romanov controlled 79% of Scottish soccer club Heart of
Midlothian
• NOTE: Lithuanian state deposit insurance, which borrowed money from govt for
Ukio bankruptcy, is largest creditor
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Bryan Bradley in Vilnius at +44-20-7330-7500 or
[email protected]
To contact the editor responsible for this story:
Balazs Penz at +36-1-475-1191 or
[email protected]

I might be missing something subliminal here, but where does that Bloomberg statement state that Adomis of the Ukio administrator is going to accept a CVA? As far as I'm aware, a CVA hasn't even been presented.

The crux of the story looks to be that the creditors of the bank are after 1.3 billion Lith Litas.

[Geo_1875]

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

I might be missing something subliminal here, but where does that Bloomberg statement state that Adomis of the Ukio administrator is going to accept a CVA? As far as I'm aware, a CVA hasn't even been presented.

The crux of the story looks to be that the creditors of the bank are after 1.3 billion Lith Litas.

1.3 billion Lith Litas = ???

[stokesmessiah]

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

1.3 billion Lith Litas = ???

£316m roughly

[Geo_1875]

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

£316m roughly

So they're going to try to sue absent directors of UKIO for £300m+ yet they'll let a £6m+ asset go for peanuts? Can't see it myself.

[Sergey]

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

1.3 billion Lith Litas = ???

This is actually yesterday's news and I'm not sure if it's 1.2 billion Litas or 1.2 billion US$ as this translated article states both: http://translate.googleusercontent.c...HyyGVZE2TWR-xw

This bit is pleasing:

"Applicant status will allow us to actively participate in the study and the basis for the suspects property ownership restrictions. In turn, this opens the way to search for a specific prosecutor to arrest assets. In other words, cooperation with law enforcement takes on the form and content and we will be much easier to arrest the former shareholders and managers of the property in order to ensure the bank's creditors and minority shareholders' interests ", - said the bank BAB An insolvency administrator Amber Adomonis.

I don't see the PBS and/or the UBIG shares changing hands any time soon, if indeed at all.

[Weststandwanab]

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

Not wishing to speak for desantos but is his post headline perhaps sarcastic?

It is and he/she, in my opinion, types a lot of sense.

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

So they're going to try to sue absent directors of UKIO for £300m+ yet they'll let a £6m+ asset go for peanuts? Can't see it myself.

Neither can I.

[Leishy1995]

http://www.birminghammail.co.uk/spor...m-city-6275309

Does anyone think Birmingham has something in common with our neighbours

[Dashing Bob S]

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

It is and he/she, in my opinion, types a lot of sense.

Neither can I.

I'm in that club - they are toast.

[SloopJB]

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

You're correct, they'll be hit with another penalty if still in admin at end of his season.

New rules might be in place by then.http://www.lawinsport.com/blog/adam-...JhdGlvbiI7fQ==

[Radium]

User Actions
Following

Barry Anderson‏@BarryAnderson_8

#Hearts' administrators BDO have sent a CVA proposal to creditors for £2.5m sale of club to @The_FoH. Creditors' meeting on 22 Nov. #HMFC

[Kato]

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

User Actions
Following

Barry Anderson‏@BarryAnderson_8

#Hearts' administrators BDO have sent a CVA proposal to creditors for £2.5m sale of club to @The_FoH. Creditors' meeting on 22 Nov. #HMFC

Oooooh, juicy news from Barry Fandanderson.

'Mon, the Lithuanian Creditor's Association. Do the right thing, you owe to yourselves.

[Spike Mandela]

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

User Actions
Following

Barry Anderson‏@BarryAnderson_8

#Hearts' administrators BDO have sent a CVA proposal to creditors for £2.5m sale of club to @The_FoH. Creditors' meeting on 22 Nov. #HMFC

How could anyone owed £15m, with a security on a stadium for £6.8m POSSIBLY resist the offer of £2.5m? Yet we all know ultimately it will happen because the whole business of administration in football is ****ing corrupt.

[EuanH78]

Hmmm pbs is surely worth significantly more than that alone?

[Arch Stanton]

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

It doesn't necessarily, if someone decides to buy Tynie as a football stadium and rent it to them.

Except that landlords tend to want references these days.

[Spike Mandela]

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

Hmmm pbs is surely worth significantly more than that alone?

Yeah, like Ibrox and Murray park was worth £1.5m and East End Park was worth £150,000.

[Famous Fiver]

Did the mad Italian not make an offer of £4 Mill which fell at the first fence. And how much did the gaga pensioner from Peebles bid? Sure it was at least 2.5 Mill. So how do BDO get the lot, lock stock and barrel for £2.5Mill?