Share Transfers Agreed/Cooling off period

[Joe6-2]

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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!

Can meeting go ahead if only a provisional date?

[Mikey]

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Can meeting go ahead if only a provisional date?

No.

After the last delay in November/December we were told the meeting would probably take place in Q1 of 2014. At which point the Yams assumed that meant early January (meaning they would be out of admin during the transfer window and would stock up on players they couldn't afford) but so far we've heard nothing.

[weonlywon6-2]

at what point do they have to be out of admin to avoid a points deduction next season,anyone know???

[nribs]

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at what point do they have to be out of admin to avoid a points deduction next season,anyone know???

Is there a thought that if they are still in admin they may try and make the point that they shouldn't be punished again as it's still the same admin process they are going through?

[CropleyWasGod]

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at what point do they have to be out of admin to avoid a points deduction next season,anyone know???

The start of the season

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[greenginger]

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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.

If/when Mrs Budge gets her feet under the desk at the PBS I am certain Brian Cormack will be brought in as an FoH rep. director, maybe Garry Halliday as well.

Cormack is not going to let his opportunity slip by telling Budge to use her own money to bridge any funding gap.

There is something that has not seemed quite right from the time Mackie and Ford quit FoH last November to the sudden change from Budge being FoH funder in chief to being outright Yam owner.

Did it take Budge a year plus to decide the original FoH plan was not to her liking ? More than likely she just let the Merricks get their pledges up and running before announcing the real plan.

My suspicious mind tells me Cormack has been party to this plan for a long time, but it has been kept quiet until it is too late for any Plan B.

I would love to know if there was any business connection between Budge and Cormack before the Great Fan Movement was put in motion. Anyone know of any links ?

I am sure the Fannies would be interested !

[Saorsa]

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Is there a thought that if they are still in admin they may try and make the point that they shouldn't be punished again as it's still the same admin process they are going through?

It disnae matter what sort of pathetic point they try tae make because it'll be wrong. If they're still in admin come the start of next season they'll get the points deduction, it's the rules and they'll pay the penalty. Any garbage they come out with will make nae difference.

[weonlywon6-2]

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The start of the season

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cheers,hoping it was sooner than that

[Matty_Jack04]

Could someone explain to me how the FOH can be sorting out the CVA to take control of the club and then announce that in actual fact bidco will be running things for several years but the same CVA proposal stands? I'm not quite grasping this part

[CropleyWasGod]

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Could someone explain to me how the FOH can be sorting out the CVA to take control of the club and then announce that in actual fact bidco will be running things for several years but the same CVA proposal stands? I'm not quite grasping this part

It would appear, although nothing has been confirmed, that FOH will buy the shares through the CVA. Almost immediately, the shares will be transferred to BIDCO. They will operate the company until the Diddies can afford to. ...

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[Eyrie]

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It would appear, although nothing has been confirmed, that FOH will buy the shares through the CVA. Almost immediately, the shares will be transferred to BIDCO. They will operate the company until the Diddies can afford to. ...

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That would be never then.

Budge has a good track record as a businesswoman, so she will run the Yams within their budget which will hinder their chances of promotion. And the longer they stay in the "Championship", the more DDs will be cancelled and the harder it will be for the remaining Save Hearts In Trouble members to raise enough money to buy her out. After all, why should they give a multi-millionaire their hard earned money when their club is already safe?

[Matty_Jack04]

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It would appear, although nothing has been confirmed, that FOH will buy the shares through the CVA. Almost immediately, the shares will be transferred to BIDCO. They will operate the company until the Diddies can afford to. ...

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Thanks CWG, are the admins in Lithuanian going to stand for that? What I mean is with ubig abstaining is there a possibility that the public knowledge that budge being wealthier and heading bidco that it could endanger the CVA agreement?

[CropleyWasGod]

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Thanks CWG, are the admins in Lithuanian going to stand for that? What I mean is with ubig abstaining is there a possibility that the public knowledge that budge being wealthier and heading bidco that it could endanger the CVA agreement?

One can live in hope ;-)

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[Weststandwanab]

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No.

After the last delay in November/December we were told the meeting would probably take place in Q1 of 2014. At which point the Yams assumed that meant early January (meaning they would be out of admin during the transfer window and would stock up on players they couldn't afford) but so far we've heard nothing.

If they are to make Q1 this year the meeting will need to be arranged, and appropriate notice given, in the next ten days.

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That would be never then.

Budge has a good track record as a businesswoman, so she will run the Yams within their budget which will hinder their chances of promotion. And the longer they stay in the "Championship", the more DDs will be cancelled and the harder it will be for the remaining Save Hearts In Trouble members to raise enough money to buy her out. After all, why should they give a multi-millionaire their hard earned money when their club is already safe?

I have to agree with this being a likely outcome providing the big L is avoided.

[Bostonhibby]

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That would be never then.

Budge has a good track record as a businesswoman, so she will run the Yams within their budget which will hinder their chances of promotion. And the longer they stay in the "Championship", the more DDs will be cancelled and the harder it will be for the remaining Save Hearts In Trouble members to raise enough money to buy her out. After all, why should they give a multi-millionaire their hard earned money when their club is already safe?

An important point and the reason my family yam happily announced he'd cancelled his DD before xmas because by then, in his mind "they" had already saved the club for the fans. I couldn't really be bothered talking to him about it because of his starting point in the debate.

[The Falcon]

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If they are to make Q1 this year the meeting will need to be arranged, and appropriate notice given, in the next ten days.

I have to agree with this being a likely outcome providing the big L is avoided.

Would I be right in thinking that even if the meeting takes place, and they give the plan the proverbial rubber stamp, it is only then the process will hit the Lithuanian courts? And by some of the posts, in particular referring to Pompey, this may prove to be the most difficult, not to say lengthy, process to overcome?

[jacomo]

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That would be never then.

Budge has a good track record as a businesswoman, so she will run the Yams within their budget which will hinder their chances of promotion. And the longer they stay in the "Championship", the more DDs will be cancelled and the harder it will be for the remaining Save Hearts In Trouble members to raise enough money to buy her out. After all, why should they give a multi-millionaire their hard earned money when their club is already safe?

Indeed. Why would the fans pay someone else to be in charge?

[Weststandwanab]

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Would I be right in thinking that even if the meeting takes place, and they give the plan the proverbial rubber stamp, it is only then the process will hit the Lithuanian courts? And by some of the posts, in particular referring to Pompey, this may prove to be the most difficult, not to say lengthy, process to overcome?

I have no knowledge of Lithuanian law but based on similar laws here you are correct any decision to surrender the frozen shares would need court approval and as such could be subject to objections by creditors. I would imagine if there are any suspicions of illegalities then it could easily be delayed or, as is the case with Portsmouth, still frozen - now more than two years later.

Remember that 28 days notice period of any creditors meeting needs to be given so, at best, the rubber stamp could be used at the earliest by 25th March and only after that happened could they Lithuanian Admins apply for a court date to do attempt to do what I describe above.

I would wager now it would be April at the earliest before a Lithuanian Court will hear the arguments as to why the fridge door should be opened.

Any takers ?

After all that there would be a 28 day cooling off period before the C.V.A. takes effect and that could be in May.

I still say the big L has nowhere near been defeated yet.

[lapsedhibee]

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I still say the big L has nowhere near ben defeated yet.

I'm sure I saw a picture of Satchel making a sign for it, on his forehead, and he knows what's what so there must still be a good chance.

[Jack]

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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.

I'm English and will be voting for an independent Scotland, a big YES from me. My political leanings are probably left of centre with absolutely no alignment to any party. Indeed I wouldn't trust any party and have found most politicians to be ****holes who are only interested in themselves.

Cardownie is probably distancing himself from Tynecastle at the moment as part of his political self preservation. I would suggest his previous yamrants ahead of the last election caused much more damage than he thought.

No matter that a sizeable proportion of the electorate are able to separate the SNP from the independence vote I reckon the SNP will not want one of their main figureheads attracting any sort of publicity that may detract from their raison d'être.

Bare in mind too that this figurehead was previously a figurehead for the pro-union Labour Party.

I might not be the only one who thinks his defection to the SNP was as a flag of convenience to further personal ambitions.

As for Labour lining up behind the yams I'll say this. The Pee'r of the Realm can't help himself, rent a gob. And there's Ian "Don't you know I'm a MP? Murray. TBH before this, no, nobody knew he was a MP apart from his mum. I would suggest the advice he took before taking this 'independent' role was at best ill -conceived.

Hope this clears things up monktonharp :-)

[Mikey]

I'm sure there's a Scottish Independence thread somewhere else

[Weststandwanab]

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I'm English and will be voting for an independent Scotland, a big YES from me. My political leanings are probably left of centre with absolutely no alignment to any party. Indeed I wouldn't trust any party and have found most politicians to be ****holes who are only interested in themselves.

Cardownie is probably distancing himself from Tynecastle at the moment as part of his political self preservation. I would suggest his previous yamrants ahead of the last election caused much more damage than he thought.

No matter that a sizeable proportion of the electorate are able to separate the SNP from the independence vote I reckon the SNP will not want one of their main figureheads attracting any sort of publicity that may detract from their raison d'être.

Bare in mind too that this figurehead was previously a figurehead for the pro-union Labour Party.

I might not be the only one who thinks his defection to the SNP was as a flag of convenience to further personal ambitions.

As for Labour lining up behind the yams I'll say this. The Pee'r of the Realm can't help himself, rent a gob. And there's Ian "Don't you know I'm a MP? Murray. TBH before this, no, nobody knew he was a MP apart from his mum. I would suggest the advice he took before taking this 'independent' role was at best ill -conceived.

Hope this clears things up monktonharp :-)

What a fantastic post.

May I, as a Yes voting Scot, thank you for voting Yes ?

[CyberSauzee]

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Thanks CWG, are the admins in Lithuanian going to stand for that? What I mean is with ubig abstaining is there a possibility that the public knowledge that budge being wealthier and heading bidco that it could endanger the CVA agreement?

You've hit the nail on the head MJ. And that's why BJ is in Lith land.

[Dashing Bob S]

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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.

National or party political concerns have never prevented SC from jumping on a bandwagon and it's a bit of stretch to suggest that this leopard has changed his spots and embraced noble restraint for the common good, simply because he's ditched Labour for the SNP.

I reckon he's scented disaster from the off in this one.

[The Informer]

http://i60.tinypic.com/27xp5hg.jpg

It's a LOAN, NOT an investment

So it's a pledge of £1,000 per fan for the next five years.

There's a cat in hells chance of that happening.

'Tynecastle No More' - 'Premiership No More' -

8,000 prayer mats required soon.

Granny Budge will have sussed the FOH throbbers and will sell her shares to anybody in a couple of years from now to get her loan back.

It will all end in tears.

[Mikey]

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http://i60.tinypic.com/27xp5hg.jpg

It's a LOAN, NOT an investment

So it's a pledge of £1,000 per fan for the next five years.

There's a cat in hells chance of that happening.

'Tynecastle No More' - 'Premiership No More' -

8,000 prayer mats required soon.

Granny Budge will have sussed the FOH throbbers and will sell her shares to anybody in a couple of years from now to get her loan back.

It will all end in tears.

Welcome

Haven't you got a match to go to

[CropleyWasGod]

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http://i60.tinypic.com/27xp5hg.jpg

It's a LOAN, NOT an investment

So it's a pledge of £1,000 per fan for the next five years.

There's a cat in hells chance of that happening.

'Tynecastle No More' - 'Premiership No More' -

8,000 prayer mats required soon.

Granny Budge will have sussed the FOH throbbers and will sell her shares to anybody in a couple of years from now to get her loan back.

It will all end in tears.

Who's Ian Mcleod? (apart from irrelevant )

And, are you saying that 8,000 of them are going to embrace a new owner from an Islamic republic??

[Killiehibbie]

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The start of the season

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When date this season end and next season start?

[Mikey]

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Who's Ian Mcleod? (apart from irrelevant )

I was wondering that too. Perhaps just someone else who has extremely shiny buttons on his jacket and gets a free scran at hospitality every fortnight

[CropleyWasGod]

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When date this season end and next season start?

The last whistle of the last game, and the first whistle of the first game

Not very helpful, I know, but them's the rules.