Share Transfers Agreed/Cooling off period

[portycabbage]

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No. The legal requirements for annual accounts are trumped by the legal requirements of the administration. In other words, the submissions that BDO make to the Court are sufficient.

Interesting point, though, about the SFA's licensing requirements. Don't think we've had this precise situation before. The accounts are normally required as part of the Annual Return and, if the AR is late, the sanctions on the Club can include.....

Removing the club's licence to compete in UEFA competitions.

That would make a mockery of sporting integrity - imagine if the famous were unable to defend their Champions league title next season.

Perhaps I mean "champignons" league, given how they've kept themselves in the dark and been fed a lot of merde.

[Dashing Bob S]

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That would make a mockery of sporting integrity - imagine if the famous were unable to defend their Champions league title next season.

Perhaps I mean "champignons" league, given how they've kept themselves in the dark and been fed a lot of merde.

Britain will have many more Manchester City style false dawns, until we let big clubs like Hearts off the leash and restore their right to shaft the taxpayer, local businesses and charities in the name of Euro dominance.

[Famous Fiver]

IF and only IF this woman Budge takes over how will the 400,000 react to a period of austerity after the spend, spend spend, ( cheat, cheat, cheat) of Messrs Mercer, Robinson and Romanov? If she keeps the purse tight shut and they grace the nether regions Scottish football for a few years how many diddies will they be left with? Mrs Budge has two choices a) shore it up from her own resources or b) sell it. Who buys it? A good guy? I think not. Her pockets are not deep enough to satisfy our mutant neighbours' ambitions.

It is not going to get that far. TICK TOCK

[gorgie greens]

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IF and only IF this woman Budge takes over how will the 400,000 react to a period of austerity after the spend, spend spend, ( cheat, cheat, cheat) of Messrs Mercer, Robinson and Romanov? If she keeps the purse tight shut and they grace the nether regions Scottish football for a few years how many diddies will they be left with? Mrs Budge has two choices a) shore it up from her own resources or b) sell it. Who buys it? A good guy? I think not. Her pockets are not deep enough to satisfy our mutant neighbours' ambitions.

It is not going to get that far. TICK TOCK

To be fair dont think it will be much of a problem,someone already said that if they had 10000 diddies paying £50 a month they will be well on the way to recovery,and any team that has the backing of 400000 fans thats a measly £1.25 ea / month,now if any fan is not willing to part with just over 4 pence /day to save there beloved club what kind of fannies are they.
we all know the answer to the question of them paying for anything when they can swindle and cheat ,why pay for it

[jonty]

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To be fair dont think it will be much of a problem,someone already said that if they had 10000 diddies paying £50 a month they will be well on the way to recovery,and any team that has the backing of 400000 fans thats a measly £1.25 ea / month,now if any fan is not willing to part with just over 4 pence /day to save there beloved club what kind of fannies are they.
we all know the answer to the question of them paying for anything when they can swindle and cheat ,why pay for it

Massive IF in there.
Given that they've currently got 7800 diddies paying on average £16 a month, they're very, very, very far from that level of investment.

[AndyM_1875]

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IF and only IF this woman Budge takes over how will the 400,000 react to a period of austerity after the spend, spend spend, ( cheat, cheat, cheat) of Messrs Mercer, Robinson and Romanov? If she keeps the purse tight shut and they grace the nether regions Scottish football for a few years how many diddies will they be left with? Mrs Budge has two choices a) shore it up from her own resources or b) sell it. Who buys it? A good guy? I think not. Her pockets are not deep enough to satisfy our mutant neighbours' ambitions.

It is not going to get that far. TICK TOCK

Anne Budge is not planning to shore up Hearts and fund them from her own resources.
She is only looking to deliver them to the FoH in 5 years or so and get her ££ back.
It's not a donation she's making nor any sort of chuck money at Hearts plan. They will have to be self sufficient.

[Ozyhibby]

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Anne Budge is not planning to shore up Hearts and fund them from her own resources.
She is only looking to deliver them to the FoH in 5 years or so and get her ££ back.
It's not a donation she's making nor any sort of chuck money at Hearts plan. They will have to be self sufficient.

I can remember a self sufficient Hearts from when I was at Primary school. Almost makes me hope they survive. Almost.

[connerg]

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I can remember a self sufficient Hearts from when I was at Primary school. Almost makes me hope they survive. Almost.

Is that the Yo Yo team from the 70's that i remember? Oh such pleasure!!!

[brog]

There's a couple of interesting comments in today's DR. Firstly they say they have 350 new subscribers. This added to the 7,800 takes them within "touching distance" of their 8,000 target! Yamamathics!
Buried away however it states "BDO are no closer to finding out when the shares will be available. The creditors meeting in Lithuania must be scheduled at 30 days notice & that has yet to be pencilled in!" So, 20 March at the earliest then, at least 9 months in admin & next season getting ever closer. Plenty fun still to come!

[CyberSauzee]

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There's a couple of interesting comments in today's DR. Firstly they say they have 350 new subscribers. This added to the 7,800 takes them within "touching distance" of their 8,000 target! Yamamathics!
Buried away however it states "BDO are no closer to finding out when the shares will be available. The creditors meeting in Lithuania must be scheduled at 30 days notice & that has yet to be pencilled in!" So, 20 March at the earliest then, at least 9 months in admin & next season getting ever closer. Plenty fun still to come!

Just read that brog!, here's the link for those that don't want to get their hands grubby.

http://www.dailyrecord.co.uk/sport/f...droves-3164974

EDIT - Just realised 30 days notice would actually make it the 22nd March

[jacomo]

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Just read that brog!, here's the link for those that don't want to get their hands grubby.

http://www.dailyrecord.co.uk/sport/f...droves-3164974

EDIT - Just realised 30 days notice would actually make it the 22nd March

Another over-the-shoulder portrait... and she does like purple doesn't she?

She will run the club for at least two years but has made it clear that plan will only succeed if FoH provide working capital.

This is close to genius - she gets to run the club but spend other people's money doing it.

[Geo_1875]

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This is close to genius - she gets to run the club but spend other people's money doing it.

It's how the last 3 Chairmen did it.

[Weststandwanab]

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Another over-the-shoulder portrait... and she does like purple doesn't she?



This is close to genius - she gets to run the club but spend other people's money doing it.

Is that not what that genius Mad Vlad did ?
No wait he spent other people's money that he owed to himself

[ACLeith]

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So, 20 March at the earliest then, at least 9 months in admin & next season getting ever closer. Plenty fun still to come!

The ides of March (15th) come round first. That date has previous for knives coming out

[Waxy]

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Another over-the-shoulder portrait... and she does like purple doesn't she?



This is close to genius - she gets to run the club but spend other people's money doing it.

Didn't she make her fortune with a partner? Who's to say it was budgie who was the brains of the partnership.

[shagpile]

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The ides of March (15th) come round first. That date has previous for knives coming out

Roman[ov] is never far away.

[Geo_1875]

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Didn't she make her fortune with a partner? Who's to say it was budgie who was the brains of the partnership.

Budge bought out her partners share when she retired. When the company was sold to Sopra, Budge was only the majority shareholder as she'd borrowed from the market to fund her buy-out.

[AltheHibby]

It also says the shares are to be transferred at the meeting. Oh no they're not.

[CropleyWasGod]

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Didn't she make her fortune with a partner? Who's to say it was budgie who was the brains of the partnership.

I don't think it's in any doubt that she is an astute businesswoman.

[Gus Fring]

Shamelessly lifting these from the Bajillions and Sergey obsession thread over there.

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Bryan Jackson is currently in Lithuania. You'd think he'd know it's a wasted trip.

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Bajillions' source hasn't confirmed this yet therefore it simply can't be true

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True. Sadly my source is less reliable. It's only Bryan's daughter.

Now I'll admit, I've heard nothing to this effect. But I await the imminent news of the shares being unfrozen and Hearts exiting administration.

According to them, exiting administration is a done deal, a formality. The shares aren't frozen and a legally binding agreement is in place to transfer them. Just a matter of time. So why is Bryan Jackson jetting off the other side of Europe (and billing Hearts for the priviledge) if everything is already sorted?

Or is he over there because in fact everything isn't as fine and dandy as Hearts' fans, the FOH and the Evening News would have us believe? Bryan couldn't possibly be over there because he needs to deal with this in person because getting the shares is still a massive problem, could he?

Or do you send the head honcho to oversee all rubber stamping? Is that how big teams/administration work?

[GreenLake]

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Shamelessly lifting these from the Bajillions and Sergey obsession thread over there.

Now I'll admit, I've heard nothing to this effect. But I await the imminent news of the shares being unfrozen and Hearts exiting administration.

According to them, exiting administration is a done deal, a formality. The shares aren't frozen and a legally binding agreement is in place to transfer them. Just a matter of time. So why is Bryan Jackson jetting off the other side of Europe (and billing Hearts for the priviledge) if everything is already sorted?

Or is he over there because in fact everything isn't as fine and dandy as Hearts' fans, the FOH and the Evening News would have us believe? Bryan couldn't possibly be over there because he needs to deal with this in person because getting the shares is still a massive problem, could he?

Or do you send the head honcho to oversee all rubber stamping? Is that how big teams/administration work?

Maybe he has to deliver some bill wads in a brown paper bag under an office table somewhere in Kaunas.

[ACLeith]

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Roman[ov] is never far away.

and our famous posters are Brutes for us

[Glesgahibby]

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It also says the shares are to be transferred at the meeting. Oh no they're not.

When this meeting takes place???(who knows how long)28days notice required!
If the creditors rubber stamp sale of shares,
then they still have to apply for them to be defrosted and a court date is required(who knows how long)?? Days notice required.If the shares are defrossted there is then a 28day cooling off period.
if all of the above is rubber stamped,that's 56 days as of today plus everyday there is no date set for creditors meeting,plus everyday waiting on a court day.
And at the end of all that,the court might(I think they will)tell them to bolt!!

[PatHead]

Mr Baj? If he comes back from Lithuania and is no closer to a resolution on the shares and believes that they are unlikely to be resolved in the foreseeable future is he obliged to say? " Well I tried but it just isn't going to happen soon, the company cannot trade throughout the close season without income and I can't put season tickets up for sale as that scuppers the business plan". He then nips to Wickes to get some padlocks on a buy one get one free deal and gets a locksmith in.

Please say yes

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Shamelessly lifting these from the Bajillions and Sergey obsession thread over there.







Now I'll admit, I've heard nothing to this effect. But I await the imminent news of the shares being unfrozen and Hearts exiting administration.

According to them, exiting administration is a done deal, a formality. The shares aren't frozen and a legally binding agreement is in place to transfer them. Just a matter of time. So why is Bryan Jackson jetting off the other side of Europe (and billing Hearts for the priviledge) if everything is already sorted?

Or is he over there because in fact everything isn't as fine and dandy as Hearts' fans, the FOH and the Evening News would have us believe? Bryan couldn't possibly be over there because he needs to deal with this in person because getting the shares is still a massive problem, could he?

Or do you send the head honcho to oversee all rubber stamping? Is that how big teams/administration work?

[robinp]

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Shamelessly lifting these from the Bajillions and Sergey obsession thread over there.







Now I'll admit, I've heard nothing to this effect. But I await the imminent news of the shares being unfrozen and Hearts exiting administration.

According to them, exiting administration is a done deal, a formality. The shares aren't frozen and a legally binding agreement is in place to transfer them. Just a matter of time. So why is Bryan Jackson jetting off the other side of Europe (and billing Hearts for the priviledge) if everything is already sorted?

Or is he over there because in fact everything isn't as fine and dandy as Hearts' fans, the FOH and the Evening News would have us believe? Bryan couldn't possibly be over there because he needs to deal with this in person because getting the shares is still a massive problem, could he?

Or do you send the head honcho to oversee all rubber stamping? Is that how big teams/administration work?

I'm sure he's flying cheaply to Lithuania too!!

I wonder if they yam hoards know that he hasn't been dedicating all his time to their sorry plight and saving their precious shares from the freezer. Given that they are such a BIG team they will be mightily peed off! Before Christmas he was in Malta for a court hearing for a few days.

Not such a big team.

[Gus Fring]

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Mr Baj? If he comes back from Lithuania and is no closer to a resolution on the shares and believes that they are unlikely to be resolved in the foreseeable future is he obliged to say? " Well I tried but it just isn't going to happen soon, the company cannot trade throughout the close season without income and I can't put season tickets up for sale as that scuppers the business plan". He then nips to Wickes to get some padlocks on a buy one get one free deal and gets a locksmith in.

Please say yes

If he gets told the shares are unlikely to be transferred or unfrozen and he isn't able to find a legitimate way to sell the company as a going concern then the next stage should be liquidation. Administration shouldn't be used as an indefinite lifeline to keep a company afloat if it's inevitable it's not sustainable.

Cropleywasgod might be able to clarify it better than me if I've gotten it wrong though.

[Dashing Bob S]

There's very little that Jackson can do to get the Lithuanian courts to release the shares. I think if he's over in Lithuania, he'll be putting pressure on UKIOS/UBIG admins to try and be more aggressive in obtaining those shares.

Hearts fans will see his presence there as 'rubber stamping' the agreed deal, perhaps signing off on paperwork etc and be excited about the Budge era and movement to fan ownership.

We'll all tend see it as more desperate, last-ditch efforts to try and savage an unwinable situation, or at least put himself in the position where he can say "I gave it my best shot."

Which stance shall be vindicated?

Not much time before we know. This scheduling of the 'creditors meeting' will tell us a lot. No sense in having such a meeting if you don't have the shares...

[Ozyhibby]

You would hope the Evening News would be sending Barry over to Lithuania to cover this momentous occasion.

[Gus Fring]

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You would hope the Evening News would be sending Barry over to Lithuania permanently.

Fixed that for you

[Sergey]

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Shamelessly lifting these from the Bajillions and Sergey obsession thread over there.

Seemingly, I'm talking to myself if replying to you