Share Transfers Agreed/Cooling off period

[Geo_1875]

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Budge does not get a mention in the Times Rich List and it goes down to folks with a miserable £ 47 million.

The company sold for £40m she got £25m. Don't know how much she's got left. Hopefully had a whack invested in RBS.

[Iggy Pope]

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As I am sure you know a M.O.U. has no legal basis otherwise it would be a contract.

With a M.O.U. either, or any, party can walk away with probably no consequence.

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Except the legal fees for doing so !

I have been party to 17, 9 of which did not happen for various reasons and not 1 was challenged legally by any party

Just stating facts but on the same wave length.

I get battered by some of the expertise on this thread and I am grateful that there are people out there willing to share their considerable nous, but is anyone listening to you?

[Ozyhibby]

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I get battered by some of the expertise on this thread and I am grateful that there are people out there willing to share their considerable nous, but is anyone listening to you?

I am

[CropleyWasGod]

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I am

Me too.

The collective intelligence on this board, on a range of subjects, is staggering at times.

And watch that turning up on Kickback :-)





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[Iggy Pope]

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I am

Good show. I thought for a minute he was maybe banging at the door of an empty hoose.

[Weststandwanab]

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£ 2.5 million for the real estate could cost Bidco 1874, 4% Stamp Duty Land Tax which is £ 100,000.

But, seeing as she is buying HOMFC shares for £1 , it might just be the share transaction value that is taxed.

Looks like the tax-man will get shafted again.

H.M.R.C. are not getting shafted they can, if the so wish, attempt to collect Stamp Duty at 0.5% of the transaction value which I presume is £1. On the other hand 0.5% of £50,000 is probably worth collecting....just.

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There are people a lot wealthier than that who are not on that list.

Indeed there are even in Edinburgh.

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Budge is quite high profile so if she had the dosh she would be in it.

I will try again the £40m sale price will be reduced by Legal costs, Capital Gains Tax on the Capital Profit, and the borrowings she had to buy out her partner prior to the sale of the Company all of which will equate to a lot less than £25m.

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Is it just me or does the fact that FOH seem to make 99% of their communications by Twitter, make them seem incredibly unprofessional ? In my experience, well run organisations use Twitter as a marketing tool to spread the word/vibe about new products…they don't use it to convey financial and strategic information….amateurs

Excuse the pun but tweeting is cheap.

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I've just read through the FoH Tweets from earlier today and there's one belter when the FoH were asked about the creditors meeting. "The end of March" was the reply.

Given today is the 21st February and 30 days notice has to be given, they really are hanging on every word from a statement that was made by the UBIG admins when pressed by BDO at approximately the time of the CVA meeting.

There is no immediate rush for this to be pushed through in Lithuania and the Ukio & UBIG administrators are under political pressure to call this right. It's also up to the members of the creditors committee to accept any proposal, not the administrators themselves.

To achieve end of March the notice that the freezer is opening needs to be in the next ten days.

[GRANTON_HIBS]

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She looks like Russell from Rules of Engagement.

She kinda does!!

[brog]

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I've just read through the FoH Tweets from earlier today and there's one belter when the FoH were asked about the creditors meeting. "The end of March" was the reply.

Given today is the 21st February and 30 days notice has to be given, they really are hanging on every word from a statement that was made by the UBIG admins when pressed by BDO at approximately the time of the CVA meeting.

There is no immediate rush for this to be pushed through in Lithuania and the Ukio & UBIG administrators are under political pressure to call this right. It's also up to the members of the creditors committee to accept any proposal, not the administrators themselves.

IIRC the original statement said the meeting was provisionally scheduled to be held by the end of March. I'm sure I posted at that time that from my experience of working in Eastern Europe, provisional meetings more often than not just did not happen. As you say they now have effectively one week to schedule the meeting otherwise we're into April!

[Mikey]

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IIRC the original statement said the meeting was provisionally scheduled to be held by the end of March. I'm sure I posted at that time that from my experience of working in Eastern Europe, provisional meetings more often than not just did not happen. As you say they now have effectively one week to schedule the meeting otherwise we're into April!

It won't be long before May starts getting a mention.

[Ronniekirk]

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IIRC the original statement said the meeting was provisionally scheduled to be held by the end of March. I'm sure I posted at that time that from my experience of working in Eastern Europe, provisional meetings more often than not just did not happen. As you say they now have effectively one week to schedule the meeting otherwise we're into April!

Over the past few weeks the implied messages coming out of Tynie is that April was likely to be the month before it was sorted .So will be interesting to see how long it takes for April to become May

[Jack Hackett]

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It won't be long before May starts getting a mention.

He's already been mentioned as a target post admin...you know...when they're debt-free








I'll get my coat..........

[Dashing Bob S]

God I love this thread so much!

AND...as difficult as it is to imagine, I predict I'm going to love it even more over the next fortnight!

[Dashing Bob S]

There's something fishy about those shares. http://www.youtube.com/watch?v=bmTxB5nXlzk

[Sergey]

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It won't be long before May starts getting a mention.

June will see them 12 months into administration - that's a far cry from being out of admin by Christmas and debt free.

They're clinging to a creditors meeting that is outwith their control and the key players are holed-up in Lithuania/Bosnia/Russia/Ukraine.

Ironic that the Hearts players who gave their lives for the freedom of our country and their team, are now staring into the abyss, praying that Eastern Europe now rescues them from complete and utter annihilation.

Top banana.

[s.a.m]

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Just saw Mrs Budge driving away from the PBS car park 10 minutes ago.

No idea what she was doing there, but canny miss her in her £100K Bentley with the personalised plates.

Was it purple?

[greenginger]

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Was it purple?

No, it was a metallic blue/grey. At least the plate number was'nt 15

[greenginger]

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It won't be long before May starts getting a mention.

How long was it before Jackson said the money would run out ?

It was posted that they can't sell season tickets until they are out of admin. Budge won't open her purse until she gets her paws on the assets, that leaves FoH to keep the lights on.

Will they hand over their D. D. nest egg ?

[Sergey]

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How long was it before Jackson said the money would run out ?

It was posted that they can't sell season tickets until they are out of admin. Budge won't open her purse until she gets her paws on the assets, that leaves FoH to keep the lights on.

Will they hand over their D. D. nest egg ?

IIRC - it was the end of March, which is five weeks away on my calendar.

The FoH will have to keep the club afloat...which could go the same as that share issue they launched = supporters money never seen again.

I typed that with a touch of sadness

[Gus Fring]

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How long was it before Jackson said the money would run out ?

It was posted that they can't sell season tickets until they are out of admin. Budge won't open her purse until she gets her paws on the assets, that leaves FoH to keep the lights on.

Will they hand over their D. D. nest egg ?

As discussed before that's incredibly unlikely. Now that the FOH plan has been revealed to everyone it's clear they won't be able to use the money to fund the club until they have taken over. It would technically violate the terms of FOH agreement as well.

I assume the money situation is looking better given Mr Struggling has been given yet another reprieve.

[Ronniekirk]

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As discussed before that's incredibly unlikely. Now that the FOH plan has been revealed to everyone it's clear they won't be able to use the money to fund the club until they have taken over. It would technically violate the terms of FOH agreement as well.

I assume the money situation is looking better given Mr Struggling has been given yet another reprieve.

Its hard to see the financial logic now in keeping him on Do they really believe having him there is going to be the key driving force that can take them to the playoff position when he couldn't master mind holding on to the ball for two minutes at end of caley thistle game .

[#FromTheCapital]

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There's something fishy about those shares. http://www.youtube.com/watch?v=bmTxB5nXlzk

Comedy gold, Someone should edit that video so there's a hearts badge in place of the cat.

[The Harp Awakes]

While there is an MOU in place with UBIG to transfer the shares, I understand a key concern of BDO/FOH/BIDCO is that UBIG administrators may up their price. Apparently the transfer price is not cast in stone.

[monktonharp]

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After his electorate deserting him in the last election and the independence vote coming soon I imagine he's keeping as low a profile as possible. Indeed it is more likely the SNP have him bound and gagged, locked in a cupboard with two armed guards outside the door.

you'll have to explain that point a bit more, Jack. don't suggest that the coming referendum is a vote for the SNP or Cardownie. it is a simple : do you think Scotland should be an independent country? yes/no. so let's keep things simple and downright honest, despite your political leanings.

[HUTCHYHIBBY]

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She kinda does!!

I see what you did there!

[hibs0666]

Salmond is a heart's waannksttain, no?

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[hibs0666]

Canny beat chicken donner and skinny fries

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[monktonharp]

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Salmond is a heart's waannksttain, no?

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he may well be, but what's that got to do with the buses going up the mound?

[Weststandwanab]

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I get battered by some of the expertise on this thread and I am grateful that there are people out there willing to share their considerable nous, but is anyone listening to you?

I have no idea, what do you think ?

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I am

I appreciate that

[Leishy1995]

I thought billy brown wasn't getting paid or are even Hearts not that daft?

[Weststandwanab]

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I thought billy brown wasn't getting paid or are even Hearts not that daft?

Brown is not that daft.