Share Transfers Agreed/Cooling off period

[JeMeSouviens]

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Not really. They could sell Tynecastle to a house builder and still sell Hearts to FoH through a CVA. Job done.

They could, but even without Tiny, they still need the Biddies to put up the cash for football debt, working capital and ground rent. Without Tiny, that would be an unsecured loan to a bunch of fannies. Tricky.

[Gus Fring]

It's entirely possible this "bid" isn't a bid at all. It's the house builder saying "if you liquidate we'll give you £4m just for the land, that mob are only giving you £2.5m for the whole kit and caboodle"

[Ozyhibby]

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They could, but even without Tiny, they still need the Biddies to put up the cash for football debt, working capital and ground rent. Without Tiny, that would be an unsecured loan to a bunch of fannies. Tricky.

:-)

[Weststandwanab]

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Can they actually submit a bid for the site? Would they not have to submit a CVA (same as FoH)?

They can.

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Not if they're not buying the club they wouldn't. I may he wrong on that though.

You are quite correct

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Would that not be a pretty ***** wind up for them to do against their own fans?

Surely more likely to be a hibs fan at the wind up if anyone?

It was not me.

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Not really. They could sell Tynecastle to a house builder and still sell Hearts to FoH through a CVA. Job done.

That would be an excellent outcome.

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It's entirely possible this "bid" isn't a bid at all. It's the house builder saying "if you liquidate we'll give you £4m just for the land, that mob are only giving you £2.5m for the whole kit and caboodle"

Now If was advising Housebuild Co that is the way I would do it.

[Glesgahibby]

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Could UBIGs administrators propose an amendment to proposed cva?
Or if cva is knocked back could FOH be advised on what UBIG would accept?
The reason I ask is even although FOH are preferred bidder UBIG will be aware there is other interested parties.They will also be aware as quoted by one of ukios admin team"the tenacity of the fans"that saving the club without the stadium could be a last resort for FOH and would at least generate some cash for UBIG.
Basically let ukio have there security"tynecastle" and make an offer for what's left in order to avoid liquidation and the long road back as a newco.

Sorry for re posting my earlier post but,,
This or something close to this is now my prediction

[Famous Fiver]

I might not be up to speed but is today the day of a meeting about CVA? If this is the case, is it here or in Lithuania? They are a couple of hours ahead of us so if they are anything like Edinburgh's public services they'll be in the pub by now. Anybody got any news?

[Moulin Yarns]

I'm sure it's tomorrow.

[andrew70]

CVA Meeting put back until the 29th - according to Bathgate on twitter

[jonty]

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CVA Meeting put back until the 29th - according to Bathgate on twitter

#Hearts creditors' meeting tomorrow has been adjourned at the request of Ukio Bankas & UBIG (via @stuart_bathgate).

[hibbymick]

It would seem this property developer has put a spanner in the works

[Judas Iscariot]

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It would seem this property developer has put a spanner in the works

It definately has

[Bostonhibby]

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It would seem this property developer has put a spanner in the works

but how? cannae see it myself, they are a big team, they have got independent Ian, Fannies, biddies, diddies and didnaes, then there's the war, their own personal battalion, Fatty Foulkes....................... and what about that brass plate on the front of the stadium?

No property developer could ever get past all that.

[#FromTheCapital]

Stuart Bathgate ‏@stuart_bathgate 13mUbig administrators want more time to assess the situation. CVA can still be agreed next Friday. Cooling-off period of 30 days would follow.

[southsider]

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It would seem this property developer has put a spanner in the works

Bulldozers 1 up after 20 mins. Looking good. Anything that upsets that pr*ck Murray is fine by me.

[Leithenhibby]

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Stuart Bathgate ‏@stuart_bathgate 13mUbig administrators want more time to assess the situation. CVA can still be agreed next Friday. Cooling-off period of 30 days would follow.

And it should work out in the end, more time to get a clearer picture

Stuart Bathgate ‏@stuart_bathgate 16m
@ClaireHammond Not to worry. Week's delay should work in HMFC favour if anything. Gives Ubig administrators time to get clearer picture.

Why would it be in their favour?.....

[hibbymick]

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Stuart Bathgate ‏@stuart_bathgate 13mUbig administrators want more time to assess the situation. CVA can still be agreed next Friday. Cooling-off period of 30 days would follow.

Theres a can o worms been opened, im convinced

[andrew70]

@stuart_bathgate: @ClaireHammond Not to worry. Week's delay should work in HMFC favour if anything. Gives Ubig administrators time to get clearer picture.

Bathgate's latest tweet. I love how this idiot and his partner in crime Banderson haven't got a clue what they are on about yet everything is deemed a positive...

[Hibercelona]

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And it should work out in the end, more time to get a clearer picture

Stuart Bathgate ‏@stuart_bathgate 16m
@ClaireHammond Not to worry. Week's delay should work in HMFC favour if anything. Gives Ubig administrators time to get clearer picture.

Why would it be in their favour?.....

Are they taking pictures of the stadium to flog off to Hearts fans before they knock it down?

[MB62]

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CVA Meeting put back until the 29th - according to Bathgate on twitter

Which was the date for their shareholders meeting apparently, which would then have required a 30 day cooling off period for any accepted CVA so they will now be in to January at the earliest, assuming there are no more hitches of course.

[Leithenhibby]

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Theres a can o worms been opened, im convinced

I sure would like to think your right, but lets try and keep a lid on it...

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Are they taking pictures of the stadium to flog off to Hearts fans before they knock it down?

This has been the best thread in football forum history............

[greenginger]

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It would seem this property developer has put a spanner in the works

Surely not this one ?




http://www.morstonassets.com/about-us/our-team/

[Scònaldò]

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It definately has

Definitely?

[Mikey]

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@stuart_bathgate: @ClaireHammond Not to worry. Week's delay should work in HMFC favour if anything. Gives Ubig administrators time to get clearer picture.

Bathgate's latest tweet. I love how this idiot and his partner in crime Banderson haven't got a clue what they are on about yet everything is deemed a positive...

Indeed. Why would these organisations, who are supposed to be going to roll over and accept whatever BDO offers them, need an extra week?

There's only one reason....................

[green glory]

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Indeed. Why would these organisations, who are supposed to be going to roll over and accept whatever BDO offers them, need an extra week? There's only one reason....................

Is that the distant sound of JCBs starting so hear?

Vroom vrooom!

[andrew70]

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Indeed. Why would these organisations, who are supposed to be going to roll over and accept whatever BDO offers them, need an extra week?

There's only one reason....................

It certainly goes against the notion that everything was all set to be agreed and the meeting was just a formality.

I hope there is only one reason but I'll let it play out before I get too excited. The Lithuanians have surely got to make them pay?

[green.and.white]

The delayed meeting surely indicates that they plan to reject FOH's bid?

Other parties involved who have indicated to the Liths that they will guarantee over 2.5 million maybe needing another week to sort out the structure from their end?

[green glory]

This possibly adds a bit weight to the possibility discussed previously about a developer now offering more for the site of the maroon piggery than FOH.

[Glesgahibby]

UBIGs administrators calling for a time out ?
no Shirley not,they have to toe the line with the UKIO admins
I'll say it again "tynecastle is going,going,gone!"

[hibbymick]

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Surely not this one ?




http://www.morstonassets.com/about-us/our-team/

[Onceinawhile]

Not convinced this changes too much. It wasn't going to be fully approved until next Friday anyway at the shareholders meeting. If it's approved next week the cooling off period would end just before January...

That is, unless the bid for tynie separately has been made in which case happy days. Seems strange that the ukio admin requested a delay not ubig?

Suggests to me there may be some truth in it.

I'd find relegation and losing Tynecastle much more palatable than just relegation.