Share Transfers Agreed/Cooling off period

[clerriehibs]

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Now that would be good. Muddling through the close season in admin. Start the next season on minus 15, play terribly, Get out of admin, gates tail off. Admin number two that summer.

and still people would say that they've got off free or are getting away with it.

That's because thus far, they have.

I don't know a single yam who doesn't reckon that "it was all worth it".

Until such time most of them are wailing that it WASN'T all worth it, they are getting away with it.

[lapsedhibee]

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That's because thus far, they have.

I don't know a single yam who doesn't reckon that "it was all worth it".

Until such time most of them are wailing that it WASN'T all worth it, they are getting away with it.

If they're still saying it was worth it when the padlocks are on The Pink Wongadome, will you still be saying they got away with it?

[Mikey]

Hearts fans seem keen to get clarification from BDO and/or FOH regarding the Kaunas Regional Court ruling. But as we all know, they won't ask!

So let's do it for them

Barry Anderson is in contact with both groups. Perhaps someone who has him on Twitter could give him a prod. It's two really simple questions.......

1. Did BDO know that the Kaunas Regional Court would block any sale of UKIO assets until the first quarter of 2014?

2. Does the delay cause them a problem?

Shouldn't take long to get the answers...............

[JeMeSouviens]

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The ruling is -15 points or a third of last seasons total, whichever is highest. If hearts had went into admin last season like they should have, they would've been deducted 18 points.

I'm sure there was talk of the punishment being changed to automatic relegation, but haven't heard anything about that in a while.

I think it changed again following the league merger to a straightforward -15 per season for an insolvency event or continuing insolvency event, -25 for a second, separate insolvency event within 5 years of the first one.

[JeMeSouviens]

And goal difference doesn’t come into it in knockout competitions, so if you are going to suffer a heavy loss, better not have it in the league.

Like goal difference is going to come into it.

[greenginger]

http://translate.google.co.uk/transl...en-US:official

Another announcement From Ukio Bankas, the previous staff can't any more money until the new creditor committee is elected. And, there are more on going legal challenges re the ranking of the various creditors.

Keep it messy !

[Coco Bryce]

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I think it changed again following the league merger to a straightforward -15 per season for an insolvency event or continuing insolvency event, -25 for a second, separate insolvency event within 5 years of the first one.

Yes I was under the impression this was the case also, but as nobody seemed to mention on here, I just thought I must have dreamt it.

[Ozyhibby]

Accepted wisdom over on kickback is that this delay is only for Lithuanian based assets. Any chance that this could be correct?

[Bostonhibby]

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Hearts fans seem keen to get clarification from BDO and/or FOH regarding the Kaunas Regional Court ruling. But as we all know, they won't ask!

So let's do it for them

Barry Anderson is in contact with both groups. Perhaps someone who has him on Twitter could give him a prod. It's two really simple questions.......

1. Did BDO know that the Kaunas Regional Court would block any sale of UKIO assets until the first quarter of 2014?

2. Does the delay cause them a problem?

Shouldn't take long to get the answers...............

1. Allisbarry responding on behalf of FOH/BDO - It was always a possibility but as we are allowed to ignore bad things we decided to ignore it, if we acknowledged the risk was a real one how would we have been able to justify appealing to fans for new funds?

When it hit the fan we expected the Kaunus courts to be persuaded to treat us as a big team should be treated, so taking into account our war record and the fact that we have our own memorial at haymarket along with a brass plate nailed outside our stadium, we were pretty confident that we could do the same. We also have Independent Ian and Lord George Foulkes doing the politics for us. After all if a UK MP and a member of the House of Lords were happy to bump their own tax payers surely two world political giants could pull off the same stunt here.

2. Allisbarry - these are not delays, they are opportunities for us to plan for the future - Rudi has been over at least twice.

[greenginger]

http://www.edinburghnews.scotsman.co...bber-1-3229217


Sounds like Rudi is still about making up for lack of Yam wages.

[jacomo]

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Accepted wisdom over on kickback is that this delay is only for Lithuanian based assets. Any chance that this could be correct?

Oh aye, that'll be the case. I'm sure the Lithuanian authorities will wave through disposal of foreign assets before they've had a chance to go through the books properly.

Is that today's comfort blanket for the Yams?

[brog]

I see they continue to perpetrate the myth that they only have 14 first team outfield players. I had a quick look at the excellent London Yams site & 17 different outfield players have started league games alone. They are following the standard dictum of if you tell a lie, make it a big one & keep repeating it! Mind you we've not heard too much from self-sufficient Southern for a while. They're shameless!

[Ozyhibby]

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Oh aye, that'll be the case. I'm sure the Lithuanian authorities will wave through disposal of foreign assets before they've had a chance to go through the books properly.

Is that today's comfort blanket for the Yams?

Appears to be. They had one poster asking reasonable questions last night but they have shouted him down now and called him a Hobo a couple of times, he's now given up.
Someone else posted about it only being Lithuanian based assets and it was accepted right away as being correct.

[green.and.white]

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http://www.edinburghnews.scotsman.co...bber-1-3229217


Sounds like Rudi is still about making up for lack of Yam wages.

[Bostonhibby]

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Accepted wisdom over on kickback is that this delay is only for Lithuanian based assets. Any chance that this could be correct?

Who knows, in their heads anything is possible.

This episode is a crime that has cost Lithuanian voters money as well as embarrassing their politicians more than once so I would expect them to be harder in their scrutiny and treatment of foreign based assets and criminals. That way the ordinary Lithuanian voter and victim at least have the illusion of tough action being taken.

Similarly if there is a prospect of any money coming back they would presumably have no problem hammering whoever or whatever the foreign based asset is since they are the ones who have had the benefit of the stolen money - in many cases they were the means by which the crimes were committed.

It might be that there is uncertainty in Lithuanian law about the treatment of foreign held assets but I doubt they would treat them any lighter than home based ones, doesn't make sense, if yamshares were to be treated differently why weren't they already unfrozen? Pie in the sky.

[Mr White]

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http://www.edinburghnews.scotsman.co...bber-1-3229217


Sounds like Rudi is still about making up for lack of Yam wages.

[Kojock]

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http://www.edinburghnews.scotsman.co...bber-1-3229217


Sounds like Rudi is still about making up for lack of Yam wages.

And if we really need another reason to detest him, then here it is.

14.jpg

[Peevemor]

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Who knows, in their heads anything is possible.

This episode is a crime that has cost Lithuanian voters money as well as embarrassing their politicians more than once so I would expect them to be harder in their scrutiny and treatment of foreign based assets and criminals. That way the ordinary Lithuanian voter and victim at least have the illusion of tough action being taken.

Similarly if there is a prospect of any money coming back they would presumably have no problem hammering whoever or whatever the foreign based asset is since they are the ones who have had the benefit of the stolen money - in many cases they were the means by which the crimes were committed.

It might be that there is uncertainty in Lithuanian law about the treatment of foreign held assets but I doubt they would treat them any lighter than home based ones, doesn't make sense, if yamshares were to be treated differently why weren't they already unfrozen? Pie in the sky.

Exactly. UBIG have assets in various countries - whether they're in Scotland or the Balkans, they'll all be dealt with by the same people (who have yet to be appointed).

[Gus Fring]

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Accepted wisdom over on kickback is that this delay is only for Lithuanian based assets. Any chance that this could be correct?

The wisdom is backed up by "The media haven't reported it" and "BDO/FOH haven't said anything about it" both of which are nonsense. The media didn't mention the frozen assets, in fact they actively ignored them and if BDO/FOH really thought this wasn't an issue, how hard would it be for either to release a statement saying "It's not a problem, lithuanian assets only"

[Springbank]

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http://www.edinburghnews.scotsman.co...bber-1-3229217


Sounds like Rudi is still about making up for lack of Yam wages.

I clicked that link and fell about laughing

Post of the Week!

[Geo_1875]

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And if we really need another reason to detest him, then here it is.

14.jpg

I pity the fool that tries to wind people up by doing the loser sign.......................and uses the wrong hand.

[Leithenhibby]

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I pity the fool that tries to wind people up by doing the loser sign.......................and uses the wrong hand.

10/10 :-)

[Gus Fring]

A mate said to me once about Skacel that he's not a Hearts fan, he's a Hibs hater and I think he has a point. If you look at his career he's only ever used them to get himself into the shop window whilst taking an overinflated wage. He then does a runner at the first sign of any trouble and is incapable of performing anywhere else. Even when he was at Dundee United he was more interested in winding Hibs fans up than he was putting in a shift for them.

Hearts fans don't realise that for the vast majority of us 5-1 doesn't hurt anymore. It's the epitome of what their club achieved when they were at the height of their cheating powers. They cling to it because that's all they have left.

I'm proud that everything Hibs have ever achieved has been done honestly and in a fashion that shows sporting integrity. Hearts fans are never able to say that about their club.

They can claim they "wouldn't change it" and that's because if they did, they'd have nothing. On this side of Edinburgh we wouldn't swap the integrity of our club for a tainted Scottish Cup win.

[GreenLake]

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A mate said to me once about Skacel that he's not a Hearts fan, he's a Hibs hater and I think he has a point. If you look at his career he's only ever used them to get himself into the shop window whilst taking an overinflated wage. He then does a runner at the first sign of any trouble and is incapable of performing anywhere else. Even when he was at Dundee United he was more interested in winding Hibs fans up than he was putting in a shift for them.

Hearts fans don't realise that for the vast majority of us 5-1 doesn't hurt anymore. It's the epitome of what their club achieved when they were at the height of their cheating powers. They cling to it because that's all they have left.

I'm proud that everything Hibs have ever achieved has been done honestly and in a fashion that shows sporting integrity. Hearts fans are never able to say that about their club.

They can claim they "wouldn't change it" and that's because if they did, they'd have nothing. On this side of Edinburgh we wouldn't swap the integrity of our club for a tainted Scottish Cup win.

[MB62]

A wee question which hopefully you might be able to put some light on.

A CVA has been agreed in principle.
Say the offer from FOH is for £2.5m, from which BDO's fees are to be paid.
When does FOH take over paying BDO or does the money continue to be subtracted from the offer? say in 6 months - one years time or whenever.
If the later is the case, could it be possible that the £2.5m will be completely wiped out by BDO's fees and the Liths end up getting nowt, or worse still, if the money runs out totally, who pays BDO the difference

[Gus Fring]

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A wee question which hopefully you might be able to put some light on.

A CVA has been agreed in principle.
Say the offer from FOH is for £2.5m, from which BDO's fees are to be paid.
When does FOH take over paying BDO or does the money continue to be subtracted from the offer? say in 6 months - one years time or whenever.
If the later is the case, could it be possible that the £2.5m will be completely wiped out by BDO's fees and the Liths end up getting nowt, or worse still, if the money runs out totally, who pays BDO the difference

My understanding is that BDO's fees pre-CVA will be taken from the offer, BDO's fees post-CVA are to be taken from Hearts current cash flow.

[hibees 7062]

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I pity the fool that tries to wind people up by doing the loser sign.......................and uses the wrong hand.

Eejit

[JeMeSouviens]

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A wee question which hopefully you might be able to put some light on.

A CVA has been agreed in principle.
Say the offer from FOH is for £2.5m, from which BDO's fees are to be paid.
When does FOH take over paying BDO or does the money continue to be subtracted from the offer? say in 6 months - one years time or whenever.
If the later is the case, could it be possible that the £2.5m will be completely wiped out by BDO's fees and the Liths end up getting nowt, or worse still, if the money runs out totally, who pays BDO the difference

One of the conditions attached to the agreement in principle was that BDO's fees post agreement can be taken direct from HMFC, excluding next year's STs. So that should limit the fees deducted from the sale to the fees that had accrued up to the agreement.

In general though, if BDO think there's any danger they won't get paid, the liquidiser will be out faster than you can say, "where did I put that valuation report for Tiny?"

[hibees 7062]

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A mate said to me once about Skacel that he's not a Hearts fan, he's a Hibs hater and I think he has a point. If you look at his career he's only ever used them to get himself into the shop window whilst taking an overinflated wage. He then does a runner at the first sign of any trouble and is incapable of performing anywhere else. Even when he was at Dundee United he was more interested in winding Hibs fans up than he was putting in a shift for them.

Hearts fans don't realise that for the vast majority of us 5-1 doesn't hurt anymore. It's the epitome of what their club achieved when they were at the height of their cheating powers. They cling to it because that's all they have left.

I'm proud that everything Hibs have ever achieved has been done honestly and in a fashion that shows sporting integrity. Hearts fans are never able to say that about their club.

They can claim they "wouldn't change it" and that's because if they did, they'd have nothing. On this side of Edinburgh we wouldn't swap the integrity of our club for a tainted Scottish Cup win.

[MB62]

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My understanding is that BDO's fees pre-CVA will be taken from the offer, BDO's fees post-CVA are to be taken from Hearts current cash flow.

So the longer the CVA goes unconfirmed/signed and control handed over to FOH, the less money the Liths get from the £2.5m?
With it all being delayed again until the first quarter of next year, and then the time it takes for all the official paperwork and agreement, the Liths could really end up getting NOWT and FOH hand over their cash to BDO.