Share Transfers Agreed/Cooling off period

[CropleyWasGod]

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I think the BDO chaps enjoy running football clubs for a bit. Probably have their eyes on careers on that front in due course. Not exactly the point of court appointed administrators.

The point is to try and preserve the business as a going concern. They are still doing that. If and When that is no longer feasible, they will stop. If and when they succeed, they will stop.

[NadeAteMyLunch!]

Was impressed again with wee Januzaj in the Man Utd game this evening. Setting up a goal deep into extra time. Heard the commentator say at one point, "he's still so young but you really could play a game every day when you're 18". He's obviously not been briefed about the 2014 health and safety concerns.

[gorgie greens]

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They have got a home game next Wednesday against st mirren

A bit miffed at this fixture popping up,the thought of no paying punters for 6 weeks was most pleasing,mind you a wednesday night game against St Midden surely a full hoose,hopefully there will be some champions league game on that night and you can count the crowd on one hand,And hopefully Yogis boys will end there extra income from the cup run and you can start putting the for sale signs up.

[oconnors_strip]

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A bit miffed at this fixture popping up,the thought of no paying punters for 6 weeks was most pleasing,mind you a wednesday night game against St Midden surely a full hoose,hopefully there will be some champions league game on that night and you can count the crowd on one hand,And hopefully Yogis boys will end there extra income from the cup run and you can start putting the for sale signs up.

The majority of fans who will attend the match will be season ticket holders so hearts won't make much money from this game. They will give the usual higher attendance figure as per usual. It's probably actually going to cost the club more in the long run to host this game on a Wednesday night due to paying for security/staff/catering etc

[EK_Hibs]

I've not been following the latest goings on with those thieving shameless morons. What's the score with them now? Is liquidation still a goer or is that unlikely now? Anyone?

[The_Todd]

Exclusive in this morning's Scotsman: "Shares still frozen, but the rubber stamp will fix that. Probably. Maybe #Allverycomplex"

Is this some sort of magic rubber stamp they're all hoping on?

[Kaiser1962]

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Just to add to this, The administrators are duty-bound to maintain the club as a going concern, if they can't do that they will have no choice but to liquidate. Using next year's income to finance this year's operations is strong evidence that they are not a going concern.

The money from season tickets sold last year has lasted this far, but by their own admission it is now running out. If that happens before they can exit administration BDO's options are very limited.

It is also worth noting that they are operating at much reduced staffing levels who are working for much reduced wages. All that will change if/when they exit administration.

[Caversham Green]

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I've not been following the latest goings on with those thieving shameless morons. What's the score with them now? Is liquidation still a goer or is that unlikely now? Anyone?

Much depends on timing now. They need to get the deal done before BDO run out of cash, which they have predicted to be February /March. However, the timing of the deal is out of BDO's hands but can't happen until it's approved at a meeting which will take place at the end of February and until the Lithuanian court releases the shares, which remain frozen. The ever-reliable Barry Anderson (who has at last twigged that they are frozen) believes that to be a rubber stamp job, but hasn't put a timescale on it - it probably can't happen until after the UBIG meeting, so that takes us into March. If all that happens in time they can start the process of exiting administration - typically another 4-6 weeks.

Liquidation remains a distinct possibility IMHO.

[Onion]

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What makes this one so complicated is the Lithuanian connection and the legal machinations out there. Does everything just take longer or is there disagreement between parties that we are unaware of .With the current buns it was fairly obvious even to someone like me that Craig Whyte s job was to take them into liquidation as the debts were so huge and big tax case was too risky in the west coast the whole scenario was on the news constantly and almost the sole topic of debate .So like it or not you got more than a basic understanding of some issues .This one gets no coverage at all and you kind of just assume it's a forgone conclusion that at some point before end of March time the will get some sort of deal done via cva If liquidation was in the offing would there not be a bigger story brewing and some journalist would be on to it .? maybe that's why for so long there has been complacency with the yams .

PR is key to BDO getting Hearts out of Admin. If there is any suggestion in the press that liquidation looks inevitable, then the game is up for BDO. Yams will not renew STs, they will stop their DDs and the atmosphere around the club will collapse. BDO know this and will probably have briefed all the journos about the dangers of mentioning the L word.

[Bostonhibby]

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Was impressed again with wee Januzaj in the Man Utd game this evening. Setting up a goal deep into extra time. Heard the commentator say at one point, "he's still so young but you really could play a game every day when you're 18". He's obviously not been briefed about the 2014 health and safety concerns.

This kid is an exceptional prospect but as you say he is not yam class - doubt they would take him anyway as I am sure I read on yakback that their "special relationship" is with Liverpool.

Liverpool, the only EPL club to be bumped for money by the yam.

[Peevemor]

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PR is key to BDO getting Hearts out of Admin. If there is any suggestion in the press that liquidation looks inevitable, then the game is up for BDO. Yams will not renew STs, they will stop their DDs and the atmosphere around the club will collapse. BDO know this and will probably have briefed all the journos about the dangers of mentioning the L word.

Exactly, although at the end of each positive statement issued by BDO, there's the wee "we're not 100% sure" disclaimer to cover their backsides.

[Geo_1875]

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Exclusive in this morning's Scotsman: "Shares still frozen, but the rubber stamp will fix that. Probably. Maybe #Allverycomplex"

Is this some sort of magic rubber stamp they're all hoping on?

I think they have the Rubber Stamp at the ready.

They've just misplaced the Ink Pad.

[Liberal Hibby]

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Much depends on timing now. They need to get the deal done before BDO run out of cash, which they have predicted to be February /March. However, the timing of the deal is out of BDO's hands but can't happen until it's approved at a meeting which will take place at the end of February and until the Lithuanian court releases the shares, which remain frozen. The ever-reliable Barry Anderson (who has at last twigged that they are frozen) believes that to be a rubber stamp job, but hasn't put a timescale on it - it probably can't happen until after the UBIG meeting, so that takes us into March. If all that happens in time they can start the process of exiting administration - typically another 4-6 weeks.

Liquidation remains a distinct possibility IMHO.

Isn't the meeting at the end of February a Ukio Bank meeting? UBIG are in the process of establishing a creditors committee 'in the first quarter'. Or have I got this wrong.

Anyway whatever they are getting perilously close to the season end in administration and a further 15 point deduction next season (if they survive).

[Glory Lurker]

A rubber stamp, yesterday:-

http://bowtielaw.files.wordpress.com...bber-stamp.jpg

[The Hibee Harp]

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Much depends on timing now. They need to get the deal done before BDO run out of cash, which they have predicted to be February /March. However, the timing of the deal is out of BDO's hands but can't happen until it's approved at a meeting which will take place at the end of February and until the Lithuanian court releases the shares, which remain frozen. The ever-reliable Barry Anderson (who has at last twigged that they are frozen) believes that to be a rubber stamp job, but hasn't put a timescale on it - it probably can't happen until after the UBIG meeting, so that takes us into March. If all that happens in time they can start the process of exiting administration - typically another 4-6 weeks.

Liquidation remains a distinct possibility IMHO.

Do the UBIG administrators have any input into the unfreezing of the shares, or is it likely that they would possibly agree to the sale and it would be passed over to the Lith courts?

Unless the Lith investigations have already looked into financial transactions involving Hearts I cannot see how they could allow any sale until such time as they had, nor could I see them fast-track a review of those transactions for the sake of a relatively small stake in a foreign country.

[jacomo]

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I've not been following the latest goings on with those thieving shameless morons. What's the score with them now? Is liquidation still a goer or is that unlikely now? Anyone?

Why not read through the last few pages of this thread? That should bring up to date with current thinking.

[Onion]

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Isn't the meeting at the end of February a Ukio Bank meeting? UBIG are in the process of establishing a creditors committee 'in the first quarter'. Or have I got this wrong.

Anyway whatever they are getting perilously close to the season end in administration and a further 15 point deduction next season (if they survive).

Just to be clear, if they're in Admin at the season end do they auto get the 15 pt penalty. Or is it only if they're in Admin at the start of the new season ?

[The Hibee Harp]

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Just to be clear, if they're in Admin at the season end do they auto get the 15 pt penalty. Or is it only if they're in Admin at the start of the new season ?

I think it is a grey area however given they used the end of last season as a cut-off point for avoiding relegation it would be interesting to see them argue that it should be the start of the season as a cut-off point should they come out of adminstration during the close season.

[Jack Hackett]

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Just to be clear, if they're in Admin at the season end do they auto get the 15 pt penalty. Or is it only if they're in Admin at the start of the new season ?

Nobody seems clear on this, but in the interest of sporting integrity, it would have to be the beginning of June as this was the date they used to avoid being relegated, because this was deemed the new season beginning

[Saorsa]

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Exclusive in this morning's Scotsman: "Shares still frozen, but the rubber stamp will fix that. Probably. Maybe #Allverycomplex"

Is this some sort of magic rubber stamp they're all hoping on?

The Magic Rubber Stamp, sounds like a fairy tale.

The Magic Rubber Stamp
by
Barry Christian Anderson

[Onion]

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Do the UBIG administrators have any input into the unfreezing of the shares, or is it likely that they would possibly agree to the sale and it would be passed over to the Lith courts?

Unless the Lith investigations have already looked into financial transactions involving Hearts I cannot see how they could allow any sale until such time as they had, nor could I see them fast-track a review of those transactions for the sake of a relatively small stake in a foreign country.

Makes sense. Cannot see what incentive there is for the Lith courts to fast-track. Not as if the creditors are going to get anything out of it ! And the Admins/Courts are sitting on a piece of marketable Edinburgh real estate, so even the FOH £2.5M wouldn't be much of a loss.

[jacomo]

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A bit miffed at this fixture popping up,the thought of no paying punters for 6 weeks was most pleasing,mind you a wednesday night game against St Midden surely a full hoose,hopefully there will be some champions league game on that night and you can count the crowd on one hand,And hopefully Yogis boys will end there extra income from the cup run and you can start putting the for sale signs up.

Don't be too miffed, it is what it is.

There will be more twists and turns in this story, a midweek game against St Mirren really means nothing in the overall scheme of things. The result of the semi final probably will be important however.

[The_Todd]

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The Magic Rubber Stamp, sounds like a fairy tale.

The Magic Rubber Stamp
by
Barry Christian Anderson

[QMU-1875]

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Makes sense. Cannot see what incentive there is for the Lith courts to fast-track. Not as if the creditors are going to get anything out of it ! And the Admins/Courts are sitting on a piece of marketable Edinburgh real estate, so even the FOH £2.5M wouldn't be much of a loss.

But they still could have which is why their has been all this noise coming out recently? The liths aren't hibees like, they couldn't care less either way!

[CropleyWasGod]

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But they still could have which is why their has been all this noise coming out recently? The liths aren't hibees like, they couldn't care less either way!

They will care about the process of law.

[QMU-1875]

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They will care about the process of law.

Then why on earth is Barry Anderson and the rest of the Scottish media piping up then? Surely they wouldn't just come out with this "their saved" mantra if they hadn't actually heard something. I mean as difficult as it is to believe journalists are educated so surely they can figure out that it's Lithuanian law that sees these shares frozen and that because of this their is nothing hearts can do?

[The Hibee Harp]

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Then why on earth is Barry Anderson and the rest of the Scottish media piping up then? Surely they wouldn't just come out with this "their saved" mantra if they hadn't actually heard something. I mean as difficult as it is to believe journalists are educated so surely they can figure out that it's Lithuanian law that sees these shares frozen and that because of this their is nothing hearts can do?

Consider what was printed about Rangers before they went belly up. The majority of Scottish football 'journalists' report what they are feed by clubs.

[CropleyWasGod]

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Then why on earth is Barry Anderson and the rest of the Scottish media piping up then? Surely they wouldn't just come out with this "their saved" mantra if they hadn't actually heard something. I mean as difficult as it is to believe journalists are educated so surely they can figure out that it's Lithuanian law that sees these shares frozen and that because of this their is nothing hearts can do?

Anderson kicked off this story; the rest of the media are merely rehashing his.

To be fair to Anderson, he did say that the shares are frozen, a fact that no-one else has mentioned.

One common factor in this story, and the Rangers one, is that football journalists are being asked to write about stuff of which they have very little knowledge. In some ways that is unfair on them, but IMO they should also have the wit to ask the questions that are being asked publicly on fora like this.

Another common factor is that one should not always believe what journalists write, for the above reason if nothing else. Particularly Anderson... remember the "massive" sponsorship deal?

[The_Todd]

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Then why on earth is Barry Anderson and the rest of the Scottish media piping up then? Surely they wouldn't just come out with this "their saved" mantra if they hadn't actually heard something. I mean as difficult as it is to believe journalists are educated so surely they can figure out that it's Lithuanian law that sees these shares frozen and that because of this their is nothing hearts can do?

BAnderson was reporting in May that Hearts were not in imminent danger of administration. Why on earth are you basing your fact on his ramblings? He says a deal is done, FOH say the opposite. You choose to believe Banderson over FOH? Fair enough.

[Saorsa]

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BAnderson was reporting in May that Hearts were not in imminent danger of administration. Why on earth are you basing your fact on his ramblings? He says a deal is done, FOH say the opposite. You choose to believe Banderson over FOH? Fair enough.

He was also the first tae break the story of Wonga giving the yams a million up front, oh ma sides

Cannae believe anybody is using him as a 'credible source' for their argument or any other for that matter, many times they have had tae pull articles or change headlines when what they've put up has be exposed as a load of mince