Share Transfers Agreed/Cooling off period

[Ozyhibby]

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No mention of a Plan B should the shares not be unfrozen before the cash runs out.

What happens then, do FOH spend their DD money in propping up Hearts in administration in the hope of a change of fortune or do they cut their losses and allow liquidation to take place.

Assuming the latter, will the (old) Biddie be willing to purchase the assets (including Tynecastle) from the receiver (as with SEVCO) and start at the bottom of the League system?

Alternatively will FOH just purchase the club name and badge from the receiver and start up groundsharing somewhere?

To keep the name and record and SFA membership, this would presumably require the football debts to be paid off in any option?

If they go to liquidation because the shares are still frozen then I would think that would rule out any asset sale as well.
Surely they can't just liquidate the company then sell all the assets?
If they have to newco then it will have to be without the stadium, the SFA share, the SPFL share or even the name and badge as they all form part of the assets that are frozen. Or am I talking mince?

[Weststandwanab]

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#createhistory (in about five years' time, assuming you've satisfied Ann Budge)

Really Budgie must be a game old Bird !

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Again, she could rightly say "none of my business, guv. I'm buying the shares from FOH. Their internal doings are their's alone."

I agree and wonder what that sort of comment from Budgie would do for the diddies

[Gus Fring]

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If they go to liquidation because the shares are still frozen then I would think that would rule out any asset sale as well.
Surely they can't just liquidate the company then sell all the assets?

If the company is liquidated then everything ceases to be owned by anyone. It is all sold off to the highest bidder and the money is used to pay back the creditors with the first £6.8m going straight to UKIO. If the FOH/Budge want any of what's left they would have to bid on it like everyone else.

[Weststandwanab]

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If the company is liquidated then everything ceases to be owned by anyone. It is all sold off to the highest bidder and the money is used to pay back the creditors with the first £6.8m going straight to UKIO. If the FOH/Budge want any of what's left they would have to bid on it like everyone else.

The Jambo Doomsday Scenario - bring it on.

[CropleyWasGod]

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If they go to liquidation because the shares are still frozen then I would think that would rule out any asset sale as well.
Surely they can't just liquidate the company then sell all the assets?
If they have to newco then it will have to be without the stadium, the SFA share, the SPFL share or even the name and badge as they all form part of the assets that are frozen. Or am I talking mince?

Hearts assets aren't frozen, UBIG's are.

So they will be sold off in the way Bajillions says.

[jacomo]

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Really Budgie must be a game old Bird !

I understand she met I am an MP and liked what she saw. Each to their own.

I agree and wonder what that sort of comment from Budgie would do for the diddies

She's imposed this deal on them to safeguard her cash. Hence the 'clarifications' in recent days to explain that, actually, Ann Budge is going to own and run the club if they get the CVA approved. A few months' back, she was part of FoH - now it appears she is not.

[Ozyhibby]

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Hearts assets aren't frozen, UBIG's are.

So they will be sold off in the way Bajillions says.

So if it wasn't for the fact a new club starts at the bottom in Scotland we would already be talking about liquidation?

[brog]

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Read the comments after all problems solved with major investor coming in at Christmas and we are all fantasists and sergei has been misleading us all this time gives me the dry boak. Unless they move Christmas to march methinks they are the deluded ones.

Just to remind everyone of the reality that Yams went into administration 8 months, or 2/3 of a year ago today! It's astonishing that all those Yams who initially derided our Tick Tock scenario, then expected to be out of admin & ahead of us by Xmas, continue to describe us as fantasists! Fantasy is a purpose-built 40,000 seater stadium, not an asbestos ridden hovel & fantasy is signing up World Cup stars rather than waiting for a 34 year old hasbeen to finish his shift at the Brauhaus before pulling on the famous turd coloured jersey. You really couldn't make it up!

[southsider]

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If the company is liquidated then everything ceases to be owned by anyone. It is all sold off to the highest bidder and the money is used to pay back the creditors with the first £6.8m going straight to UKIO. If the FOH/Budge want any of what's left they would have to bid on it like everyone else.

Would BDO get their money before UKIO ?

[jacomo]

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Just to remind everyone of the reality that Yams went into administration 8 months, or 2/3 of a year ago today! It's astonishing that all those Yams who initially derided our Tick Tock scenario, then expected to be out of admin & ahead of us by Xmas, continue to describe us as fantasists! Fantasy is a purpose-built 40,000 seater stadium, not an asbestos ridden hovel & fantasy is signing up World Cup stars rather than waiting for a 34 year old hasbeen to finish his shift at the Brauhaus before pulling on the famous turd coloured jersey. You really couldn't make it up!

If The Famous manage to avoid liquidation they'll dismiss us all as bitter deluded Hobos and crow about how wrong we were.

Just remember the immortal line - "we owe it to ourselves". If this were a fair and just world, it would become their epitaph.

[Weststandwanab]

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So if it wasn't for the fact a new club starts at the bottom in Scotland we would already be talking about liquidation?

I think that would have been a distinct possibility.

[CropleyWasGod]

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Would BDO get their money before UKIO ?

BDO wouldn't be the liquidator.

The liquidator would get their fees before UKIO.

[Gus Fring]

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So if it wasn't for the fact a new club starts at the bottom in Scotland we would already be talking about liquidation?

Yes. That, and that there's no guarantee who would get what. Tesco (or anyone) could buy the stadium and demolish it and anyone could buy the football side of things. It would all depend on who bid the most.

[Seveno]

I had my usual Monday football chat with a Jambo colleague and asked what he thought of this Budge woman. His reply was 'Well you will know more about it than me' so I went through the frozen share issue with him and the European-wide fraud investigation into the Romanov empire. As I explained each scenario, his eyes just glazed over only for him to awaken when I got to the bit about FoH taking them out of Admin only to the hand them over to a previously unknown multi-millionaire at a knock down price. He instantly understood that the Liths would not be at all happy with that scenario.

It was mildly amusing, given that he is a decent guy, but somewhat sad on the basis that he has spent 30 years in the Financial Services business and is one of the smarter Yams.

[Mikey09]

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Oi! Some of us "guests" are just too lazy to log in (until 2 mins ago so I could reply to this!)
Ps just noticed you said "some", so I'm withdrawing my mock indignation!

They know who they are porty.......

[Gettin' Auld]

Everytime i see the name 'Budgie' it reminds me of this (One for our more erm experienced posters) - http://www.youtube.com/watch?v=xIsgH2zLcnM

Not exactly a catchy singalong number though.

[CropleyWasGod]

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Everytime i see the name 'Budgie' it reminds me of this (One for our more erm experienced posters) - http://www.youtube.com/watch?v=xIsgH2zLcnM

Not exactly a catchy singalong number though.

Hey Budgie

[EH6 Hibby]

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BDO wouldn't be the liquidator.

The liquidator would get their fees before UKIO.

Would BDO get their fees before the liquidator? Can't imagine there would be much left after both companies take their fees.

[brog]

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Just to remind everyone of the reality that Yams went into administration 8 months, or 2/3 of a year ago today! It's astonishing that all those Yams who initially derided our Tick Tock scenario, then expected to be out of admin & ahead of us by Xmas, continue to describe us as fantasists! Fantasy is a purpose-built 40,000 seater stadium, not an asbestos ridden hovel & fantasy is signing up World Cup stars rather than waiting for a 34 year old hasbeen to finish his shift at the Brauhaus before pulling on the famous turd coloured jersey. You really couldn't make it up!

Just for your amusement, 3 excellent quotes from a Yam roaster/poster 2 days before they went into admin!! He's no doubt still accusing us of being delusional!
JamieThomas, on 16 Jun 2013 - 13:53, said:

Haud on, we're actually favourites to go down?

JamieThomas, on 16 Jun 2013 - 17:07, said:

I'll give you 6/4 that we'll be just fine next season.

Justification will arrive soon enough.

JamieThomas, on 16 Jun 2013 - 17:20, said:

Ok. Hearts will not be in admin at this point next week. Or the week after.

Em, try 8 months after!!!

[Gettin' Auld]

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Hey Budgie

Hey Charlie Endell.

[brog]

Here's another classic from 5 years ago. Referring to the super stadium its good to see the failure to build it was all down to the global recession, rather than something to do with Hearts!

A spokesman for the club said: "Discussions are ongoing with Edinburgh City Council and we have good communications with the council regarding our stadium development proposals."
Delays to the planning process and the financial situation at Hearts have led to fears that the scheme, which will see the stadium capacity increase by 12,000, will never get off the ground.
Latest club accounts published in April showed that Hearts currently have debts of 30.48m.
Derek Watson, chairman of the Hearts Supporters' Trust, said: "There is still a reasonable amount of confidence that it will go ahead, but the timescale is still a bit up in the air because of the overall world financial situation, rather than something to do with Hearts.

[Dashing Bob S]

Just posting this to knock the SEVCO thread of the top, having put it there with my last post.

I had a major attack of guilt for my disloyalty to Hearts.

[Gus Fring]

Good ( ) thread over on nevergettingthesharesback.com comparing us to them and the bounce.

The mistake they make though is they claim to be a Hearts fan site when we all know that forum now exists solely so they can discuss their obsession with me and Sergey.

[Eyrie]

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Everytime i see the name 'Budgie' it reminds me of this (One for our more erm experienced posters) - http://www.youtube.com/watch?v=xIsgH2zLcnM

Not exactly a catchy singalong number though.

I think of this, and it is a catchy singalong number.

[truehibernian]

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Good ( ) thread over on nevergettingthesharesback.com comparing us to them and the bounce.

The mistake they make though is they claim to be a Hearts fan site when we all know that forum now exists solely so they can discuss their obsession with me and Sergey.

Have to confess B that I can't see the fascination to go onto kickback myself - I've never had the urge to, I'm a Hibs fan and like reading and posting on .net, not trawling through other sites, especially Hearts ones. Jeez I lived with a Hearts fan for years, I need no further proof that they are delusional, in all things in life

Plus you get more info on Hearts thanks to this site

Oh and the fan was female

[Sergey]

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Good ( ) thread over on nevergettingthesharesback.com comparing us to them and the bounce.

The mistake they make though is they claim to be a Hearts fan site when we all know that forum now exists solely so they can discuss their obsession with me and Sergey.

Oh, f'ing dear - I've just lost 15 minutes of my life reading through their guff. It's of little surprise that the club is staring into the abyss with trumpets like that as their faceless support.

Quotes such as:

A Welt wrote

Let's remember, that year, we reduced our loss and made a profit. Hibs increased their debt and made a second loss in a row of around £900,000, and that was despite half their team being loan signings.

That would be the exact same season that a further debt for equity swap took place that hid another substantial loss. Made a profit? I'll tell the jokes if you don't mind!

They also seem to have a fixation about my knob. Aren't they confusing me with one of their own players that was banished to Lithuania?

I think all on this forum know the difference between truth and slurs.

[CropleyWasGod]

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O

I think all on this forum know the difference between truth and slurs.

Yes, but we don't know the difference between your knob and Thomson's.




And, no, we don't really want to know.

[AltheHibby]

Wow, Baj and Sergey really are poster boys over there!

Still, if they're focussing on you they're not focussing on their, err, women!

[WeAreHibs]

Sent from my HTC One using Tapatalk

[Oscar T Grouch]

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Everytime i see the name 'Budgie' it reminds me of this (One for our more erm experienced posters) - http://www.youtube.com/watch?v=xIsgH2zLcnM

Not exactly a catchy singalong number though.

I liked that show, but every time I hear Budgie all I get is the opening riff of Breadfan going off in my heid :)