Share Transfers Agreed/Cooling off period

[Aldo]

They out buying cigars and putting bubbly in the fridge.

Some reckon this place will be a hoot and we've back-pedalled and are happy with CVA.

They all think everything will be fine and debt free

[RIP Bestie]

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FoH twitter a few minutes ago.

Hey thanks for this. You're a star man. Oops

[Hermit Crab]

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They out buying cigars and putting bubbly in the fridge.

Some reckon this place will be a hoot and we've back-pedalled and are happy with CVA.

They all think everything will be fine and debt free

Let them think that. They can't be debt free.

[Aldo]

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Let them think that. They can't be debt free.

We know that. Funny thing if they agree the CVA but don't give them the stadium and sell it to a property developer. (Can this be done??)

[CropleyWasGod]

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We know that. Funny thing if they agree the CVA but don't give them the stadium and sell it to a property developer. (Can this be done??)

No.

If there is a CVA, FOH own the company and hence its assets.

[Spike Mandela]

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We know that. Funny thing if they agree the CVA but don't give them the stadium and sell it to a property developer. (Can this be done??)

No.

If they get the CVA through, irrespective of any debt they still have to pay to pay off, they will have shed approximately £25m in debt. Not a bad day in anyones book.

[Aldo]

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No. If there is a CVA, FOH own the company and hence its assets.

CWG cheers didn't think they could but got confused.... Shame really.

When you think of it though the Liths aren't getting much after BDO takes their fees.

(Really hoping it's pull the plug time- thee best Xmas present ever)

[HoboHarry]

Thanksgiving here today in the USA. Hoping for a Christmas Day day feeling tomorrow. Dare to dream........

[Aldo]

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No. If they get the CVA through, irrespective of any debt they still have to pay to pay off, they will have shed approximately £25m in debt. Not a bad day in anyones book.

That's the most annoying thing bout it all. £25 million dodging their dues and fleecing the taxman.

Club with no shame right enough.

Cheers for that guys

[Gus Fring]

BDO hadn't heard if the meeting was going ahead as of lunchtime today. They tried to find out this morning and got no reply. UKIOs admin is cooperating but contact with UBIGS admin has been very minimal.

PS. This "debt free" rubbish shows just how thick their support is. There is currently no outcome that leaves Hearts "debt free". They'll still have football debt to pay and then they have to pay back the loans that are allowing FOH to buy them in the first place.

[Golden Bear]

Heh heh!

Breaking news from the Beeb

[JeMeSouviens]

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Heh heh!

Breaking news from the Beeb

is what?

Ah right, nothing we didn't know already ...

BBCBMcLauchlin ‏@BBCBMcLauchlin 2m

Hearts will NOT be in a position to exit administration until at least February next year. More soon on BBC Scotland#newsdrive

[portycabbage]

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Heh heh!

Breaking news from the Beeb

Listening to that also, admin til february at least as UBIG shares can't be sold till after they have their own creditors meeting. Hardy-******g-har, GIRFUY!

[matty_f]

I am past caring. Either outcome looks like it'll provide hilarity for us so I'm just going to roll with it and enjoy the show.

[Golden Bear]

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is what?

I missed the start of the news snippet but the jist of it is that nothing can possibly happen until the end of February.

[JollyGreenGiant]

@BBCBMcLauchlin: Hearts will NOT be in a position to exit administration until at least February next year. More soon on BBC Scotland#newsdrive

[the_ginger_hibee]

Hahaha....so the shares were 'frozen'? Maybe not frozen due to investigation but they are still unable to be moved on!

What will the kickback reaction be to this? They dismissed Sergeys claim that this would happen quite strongly!

What will they say now?

[Winston Ingram]

@BBCBMcLauchlin: Hearts parent company UBIG hold 50% share in club and these cannot be assigned or sold until creditors meeting in Lithuania#bbcsportscot

[Mellow Hibee]

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Listening to that also, admin til february at least as UBIG shares can't be sold till after they have their own creditors meeting. Hardy-******g-har, GIRFUY!

Yams better get their aprons on to bake their way till February (at least). I'm assuming that no-one is going to put any working capital in until there's more certainty.

No sure what will happen with the BDO fees either.

[portycabbage]

http://www.bbc.co.uk/sport/0/football/25144366

Sorry if that's not a link, computer numpty alert!

[Aldo]

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Hahaha....so the shares were 'frozen'? Maybe not frozen due to investigation but they are still unable to be moved on! What will the kickback reaction be to this? They dismissed Sergeys claim that this would happen quite strongly! What will they say now?

Still a bit of arrogance amongst them...

[CropleyWasGod]

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@BBCBMcLauchlin: Hearts parent company UBIG hold 50% share in club and these cannot be assigned or sold until creditors meeting in Lithuania#bbcsportscot

And, lest we forget, it's not in the UBIG admin's power to unfreeze them. That remains with the Lithuanian Government.

[greenginger]

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BDO hadn't heard if the meeting was going ahead as of lunchtime today. They tried to find out this morning and got no reply. UKIOs admin is cooperating but contact with UBIGS admin has been very minimal.

PS. This "debt free" rubbish shows just how thick their support is. There is currently no outcome that leaves Hearts "debt free". They'll still have football debt to pay and then they have to pay back the loans that are allowing FOH to buy them in the first place.

I don't like the sound of , " Ukio admin. is cooperating "............... that sounds like he has accepted the FoH offer.

[Gus Fring]

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I don't like the sound of , " Ukio admin. is cooperating "............... that sounds like he has accepted the FoH offer.

He has.

[Pete]

If I was a jambo I would prefer liquidation as it's as it's probably the only honourable outcome. By starting again I could at least hold my head high.

Administration and a CVA is the ultimate embarrassment and I certainly wouldn't be celebrating.

Don't pray for an easy life, pray for the strength to endure a difficult one - Bruce Lee.

[the_ginger_hibee]

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Still a bit of arrogance amongst them...

Shock.

What a(nother) twist this is! How long can the comedy train churn for?

I want 'I'm an MPs' thoughts on this and how FoH, BDO etc. didn't at least forecast this and more importantly how they will continue from here?

Pass the popcorn...

[CropleyWasGod]

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He has.

For sure?

[JeMeSouviens]

I quite like the sound of them putting it to a Lithuanian Creditors' Meeting. Sounds like fun.

[Gus Fring]

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For sure?

Nothings official until the meeting obviously but they've indicated to BDO they plan to accept.

[the_ginger_hibee]

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For sure?

Its also in the CVA proposal doc that Ukio will accept the CVA - (according to Kickback though )