Share Transfers Agreed/Cooling off period

[gorgie greens]

as in cases with all animals,surely the decent thing is to put it out of its misery and pain and kill it.

[Sanger]

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Spot on !

No.

End game, in my opinion, that the Flounderingation of Hearts offer will be rejected

Clearly Ukiio's going over Romanov and co. Hearts are seen as innocent party just as Ukio is. They are not going to punished for Romanov's fraud. The CVA will be accepted as better than nothing. If you are owed £300m in total in total and £70m from one creditor it is is easier to get £2.5m upfront than hang on for years to get £8m or so. hearts will off course go down and will struggle to be financed and probably spend a few years in the championship given their finances and Rangers being in the same league as them next season. Time we all faced up to what is actually go to happen to them and move on.

[Pete]

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Clearly Ukiio's going over Romanov and co. Hearts are seen as innocent party just as Ukio is. They are not going to punished for Romanov's fraud. The CVA will be accepted as better than nothing. If you are owed £300m in total in total and £70m from one creditor it is is easier to get £2.5m upfront than hang on for years to get £8m or so. hearts will off course go down and will struggle to be financed and probably spend a few years in the championship given their finances and Rangers being in the same league as them next season. Time we all faced up to what is actually go to happen to them and move on.

One minute you speak sense then the next you speak like redskin.

Me trust um private board.

[Joy Zipper]

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Don't be silly.
The report will become public knowledge when Mr Crops decides it will become public knowledge.

Neither an hour sooner nor later.

Brilliant !

[StevieC]

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The only people that have been able to help Hearts this season have been us - we've probably kept them going another month with the League Cup semi. Sadly, Celtic will probably deny us the opportunity to help them out gain, in the Scottish Cup.

It's Hibs .. so Ross County will deny us that opportunity.

[CropleyWasGod]

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Don't be silly.
The report will become public knowledge when Mr Crops decides it will become public knowledge.

Neither an hour sooner nor later.

Ha.....I wish :-)

I'm actually in Spain just now, so not on the ball. I will get an alert if there is anything new on Hearts CH record.....but that goes to my work email. ...and I ain't checking that while I'm on holiday :-)

[fat freddy]

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Clearly Ukiio's going over Romanov and co. Hearts are seen as innocent party just as Ukio is. They are not going to punished for Romanov's fraud. The CVA will be accepted as better than nothing. If you are owed £300m in total in total and £70m from one creditor it is is easier to get £2.5m upfront than hang on for years to get £8m or so. hearts will off course go down and will struggle to be financed and probably spend a few years in the championship given their finances and Rangers being in the same league as them next season. Time we all faced up to what is actually go to happen to them and move on.

Revisionist!...but its hard to disagree...despite what usually happens when companies go bust and the assets are stripped to pay the creditors, football clubs appear to be exempt from the usual rules....as much fun as this thread has been i have a nagging suspicion that cwg, sergey, bajillions, cg, gg and all the other experts who have brought us a wealth of knowledge regarding the administration process may have to face up to the fact that football clubs are immune to the usual legal procedures with regards to actually dying...hearts in particular remind me of a suicidal rasputin...no matter how much they try to kill themselves, they just wont die...i will add that i live in the hope that i am utterly wrong and my misgivings are based on the fear that they escape proper punishment for their mismanagement.

[Spike Mandela]

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Clearly Ukiio's going over Romanov and co. Hearts are seen as innocent party just as Ukio is. They are not going to punished for Romanov's fraud. The CVA will be accepted as better than nothing. If you are owed £300m in total in total and £70m from one creditor it is is easier to get £2.5m upfront than hang on for years to get £8m or so. hearts will off course go down and will struggle to be financed and probably spend a few years in the championship given their finances and Rangers being in the same league as them next season. Time we all faced up to what is actually go to happen to them and move on.

So, basically what all the 'non experts' said would happen from the get go?

[Geo_1875]

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Revisionist!...but its hard to disagree...despite what usually happens when companies go bust and the assets are stripped to pay the creditors, football clubs appear to be exempt from the usual rules....as much fun as this thread has been i have a nagging suspicion that cwg, sergey, bajillions, cg, gg and all the other experts who have brought us a wealth of knowledge regarding the administration process may have to face up to the fact that football clubs are immune to the usual legal procedures with regards to actually dying...hearts in particular remind me of a suicidal rasputin...no matter how much they try to kill themselves, they just wont die...i will add that i live in the hope that i am utterly wrong and my misgivings are based on the fear that they escape proper punishment for their mismanagement.

You are correct that football clubs, and hertz in particular, are treated differently from "normal" businesses.

If I'd run a company in the manner that hertz have been run, not only by Vlad but other directors and management, there would have been criminal charges.

[HibbyDave]

It's always darkest just before the dawn.

















Mon the Liths!

[jacomo]

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Clearly Ukiio's going over Romanov and co. Hearts are seen as innocent party just as Ukio is. They are not going to punished for Romanov's fraud. The CVA will be accepted as better than nothing. If you are owed £300m in total in total and £70m from one creditor it is is easier to get £2.5m upfront than hang on for years to get £8m or so. hearts will off course go down and will struggle to be financed and probably spend a few years in the championship given their finances and Rangers being in the same league as them next season. Time we all faced up to what is actually go to happen to them and move on.

You have cried wolf about an unavoidable, impending liquidation for them many times on this thread. Sorry, but will take your predictions with a hefty bucket of salt.

I neither have inside knowledge nor expertise on Hearts' situation. But, whatever happens, it's hard to see how they can get back to where they were and stay at Tynecastle in the long term. Even if FoH get everything they want, they end up with a club odds-on for relegation and a crumbling stadium that's not fit for purpose.

[leggeto]

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Revisionist!...[/B]but its hard to disagree...despite what usually happens when companies go bust and the assets are stripped to pay the creditors, football clubs appear to be exempt from the usual rules....as much fun as this thread has been i have a nagging suspicion that cwg, sergey, bajillions, cg, gg and all the other experts who have brought us a wealth of knowledge regarding the administration process may have to face up to the fact that football clubs are immune to the usual legal procedures with regards to actually dying...hearts in particular remind me of a suicidal rasputin...no matter how much they try to kill themselves, they just wont die...i will add that i live in the hope that i am utterly wrong and my misgivings are based on the fear that they escape proper punishment for their mismanagement.

yip, I said at the start they could fall into a berrel of shiete and climb out smelling of roses

[WhileTheChief..]

Take a quick look at the league table if you think they are getting away with it!

If you remember back to before all this started most folk on here were predicting administration, nothing else.

Hearts were telling us it would never happen as they owed the cash to themselves.

It's only because admin came about so easily that everyone started wanting liquidation.

Hearts are trying to paint this as a victory of sorts if they exit admin but to me the damage is done.

Whatever happens next its in the history books that they were in admin and a season or 2 of life in the lower leagues is probably better than any of us could have dreamed of when this all kicked off years ago.

Personally I'm enjoying watching them get stronger after every defeat and it fills me with pride the way they are preparing for the Championship.

[Biggie]

Whilethechief - I dont buy that....I want accountability.....£30+M !!!...people losing their jobs, 2 cups won whilst not paying players, knowing they had no intention of paying ANYTHING back.....sorry mate I want more than a poxy 15 point deduction......life in the lower leagues...big deal.
I want BLOOD.
I get grief daily from the yam supporting family I have.....I've said my day will come and I want it.

[hibs0666]

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So, basically what all the 'non experts' said would happen from the get go?

A lot of people said that they would get away with it and come out of this smelling of roses. Instead they are coming out of this - at best - smelling of it smelling of sphincter ooze with a club destined for a spell in a lower league, carrying a multi-million debt with a ground that is fit for purpose only in Divison 3.

[leggeto]

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Whilethechief - I dont buy that....I want accountability.....£30+M !!!...people losing their jobs, 2 cups won whilst not paying players, knowing they had no intention of paying ANYTHING back.....sorry mate I want more than a poxy 15 point deduction......life in the lower leagues...big deal.
I want BLOOD.
I get grief daily from the yam supporting family I have.....I've said my day will come and I want it.

go on biggie take no prisoners

[Sanger]

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You have cried wolf about an unavoidable, impending liquidation for them many times on this thread. Sorry, but will take your predictions with a hefty bucket of salt.

I neither have inside knowledge nor expertise on Hearts' situation. But, whatever happens, it's hard to see how they can get back to where they were and stay at Tynecastle in the long term. Even if FoH get everything they want, they end up with a club odds-on for relegation and a crumbling stadium that's not fit for purpose.

Clearly early on the admins were going for the money as much as they could recover. But reading the latest report from Lithuania they taking the line I outlined above.

I was first with the Ukio bankas analysis from Bloomberg and exposed the full extent of what had been washed through Hearts. Financial situations change and the attitude of the creditors to what can be reasonably recovered and the effort to do so as well. We have to face up the actual situation now. I agree with your last comments.

[Biggie]

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go on biggie take no prisoners

I'm not going to mate, I'm sick of these *****

[JollyGreenGiant]

@jamiekborthwick: UBIG decision now delayed until Monday.

How many weeks has it been delayed now?

[WhileTheChief..]

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Whilethechief - I dont buy that....I want accountability.....£30+M !!!...people losing their jobs, 2 cups won whilst not paying players, knowing they had no intention of paying ANYTHING back.....sorry mate I want more than a poxy 15 point deduction......life in the lower leagues...big deal.
I want BLOOD.
I get grief daily from the yam supporting family I have.....I've said my day will come and I want it.

Actually, when you put it like that...

:)

[Baker9]

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Take a quick look at the league table if you think they are getting away with it!

If you remember back to before all this started most folk on here were predicting administration, nothing else.

Hearts were telling us it would never happen as they owed the cash to themselves.

It's only because admin came about so easily that everyone started wanting liquidation.

Hearts are trying to paint this as a victory of sorts if they exit admin but to me the damage is done.

Whatever happens next its in the history books that they were in admin and a season or 2 of life in the lower leagues is probably better than any of us could have dreamed of when this all kicked off years ago.

Personally I'm enjoying watching them get stronger after every defeat and it fills me with pride the way they are preparing for the Championship.

Spot on WTC.

[Andy74]

Whatever happened to their charge for not paying players on time?

[hibees 7062]

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I'm not going to mate, I'm sick of these *****

[Juice-Terry]

I think the suggestion has been made already, but it would be great if one of our financial wizzards would write a piece on the whole sordid affair - highlighting of course the financial and moral costs to all those who have been shafted by Hearts - and send it off to various news agencies, papers, tv companies, radio stations etc. in Lithuania. It would also be very good if the piece could include some figures relating to the real value of Tynecastle - as opposed to the paltry sum FoH are offering. Just a thought...can't hurt, can it?

[jacomo]

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I think the suggestion has been made already, but it would be great if one of our financial wizzards would write a piece on the whole sordid affair - highlighting of course the financial and moral costs to all those who have been shafted by Hearts - and send it off to various news agencies, papers, tv companies, radio stations etc. in Lithuania. It would also be very good if the piece could include some figures relating to the real value of Tynecastle - as opposed to the paltry sum FoH are offering. Just a thought...can't hurt, can it?

I am no financial wizard, but the story is something like this:

In 2003, Edinburgh's two big football clubs were in financial difficulties and actively considering a ground share in a new stadium in Straiton. The ground share never happened. But Hibs took responsibility for their situation and the football team suffered as a consequence. Hearts took no responsibility, sold out to a foreign businessman of dubious means, and didn't worry about who suffered the consequences.

[robinp]

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Pretty sure it will be lodged at Companies House before the meeting. Robin will be along to confirm or otherwise :-)

Sadly it will not be lodged on Companies House, there is no requirement to lodge the proposal with CH only a form afterwards with the outcome, if it's approved.

These reports always find their way into the public domain, even if they are not published on the IP's website. I would expect it to appear online somewhere very soon.

[GreenLake]

How did the Lithuanians deal with Vlad's other club in their own country, FBK Kaunus? Did they get exceptional debt forgiveness for being a football club?

[Sanger]

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How did the Lithuanians deal with Vlad's other club in their own country, FBK Kaunus? Did they get exceptional debt forgiveness for being a football club?

There was no value to extract from them. Building houses when the country was going through a financial crisis on a remtre sports field made the value of the stadium very low!

[clerriehibs]

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There was no value to extract from them. Building houses when the country was going through a financial crisis on a remtre sports field made the value of the stadium very low!

But you've been telling us they're doomed, rooked, goosed, a dead parrot etc etc, with no way out, for months, and now you're telling us that's all been so much hot air?

Brilliant.

[Gatecrasher]

Don't hate your enemies it affects your judgement
If the worst that happens to them is relegation and that's looking likely then no doubt we'll still get a good laugh.