Share Transfers Agreed/Cooling off period

[Saorsa]

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The CVA has yet to be approved by the UKIO creditors.

I said a few pages back that UBIG's approval would be the easiest of the 3 hurdles to clear. If that does happen next week, there are 2 more difficult jobs to deal with.

The last one still being the one that will IMO put a spoke in their wheel, if it disnae happen before that.

[greenpaper55]

The dafties over THERE think that they will be out of admin by the derby and they will play gonzo !!! they need help.

[Craig_in_Prague]

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The dafties over THERE think that they will be out of admin by the derby and they will play gonzo !!! they need help.

Some keep writing 'a deal has been agreed'

Wtf

[CropleyWasGod]

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Suppose I asked for that.

After I posted that, I had a quick search for the new SPFL rules on administration and I can see that they mention losing 15 points on entering administration for a first offence.

I just saw your post and automatically assumed that they would be imposing minus 15 points purely because they were imposing the same points deduction for each season that a team remains in administration.

That didn't make a lot of sense, hence my question!

It counts as the same administration, so the penalty is the same.

If it happens again (within 5 years, I think) the penalty is 25 points.

[Saorsa]

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The dafties over THERE think that they will be out of admin by the derby and they will play gonzo !!! they need help.

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Some keep writing 'a deal has been agreed'

Wtf

all good stuff, make it much mair fun when it disnae happen.

[Dashing Bob S]

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So if the meeting goes ahead is it plain sailing for the yams?

If the meeting goes ahead, it depends on the status of the meeting. The UBIG creditors really have to talking about the Yams, be passing motions about share transfer, and probably even have to have the shares unfrozen by the Lith courts or a specific date for this happening very, very, very soon.

So it would be down to the status of the shares.

But this is finally getting exciting! Next Friday will be the big reveal!

[Kato]

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Maybe the ones that arranged the meeting don't want it to attract too much attention for any number of reasons.

- Vlad will send representatives.
- The meeting is not above board.
- People who should be there were not invited.
- Local people would be up in arms if they knew what was going on.
- These guys might investigate http://www.stt.lt/en/
- yada yada yada

Whatever happens it all sounds like a right barrel of laughs.

As to the bit in bold. I wonder if Vlad has "representatives" here in Edinburgh. I can't imagine, given the average machinations a mafioso would employ, he hasn't got dirt on locals. The odd councillor or three, press guys, employees, club grandees: that's the sort those types target.

[Hibernianinc]

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Maybe the ones that arranged the meeting don't want it to attract too much attention for any number of reasons.

- Vlad will send representatives.
- The meeting is not above board.
- People who should be there were not invited.
- Local people would be up in arms if they knew what was going on.
- These guys might investigate http://www.stt.lt/en/
- yada yada yada

Hmmm.

All very shady. Well, we shall see, whatever happens, end game appears to be afoot...

[Thecat23]

Guys it's a win, win for us. They come out admin but are totally brass. Yep brass!! Debt free, nope not quite. The days of hearts spending big are long gone. They will be poor and that's the best they can hope for. So if they think years of getting pumped and infighting is great fire away.

On the other hand they go tits up and we wave goodbye! Let the good times roll because that lot are finished no matter what way we look at it.

Do find it rather funny that there is a so called "meeting" right before a derby and one where we could send them down. Mmm coincidence?

[leggeto]

It will probably be good news for them,time to crawl out that barrel of shi@te and have a Rosie smell about them,but hope no

[GreenLake]

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Whatever happens it all sounds like a right barrel of laughs.

As to the bit in bold. I wonder if Vlad has "representatives" here in Edinburgh. I can't imagine, given the average machinations a mafioso would employ, he hasn't got dirt on locals. The odd councillor or three, press guys, employees, club grandees: that's the sort those types target.

They said at the Ukio meeting there were a couple of strange oversees private trust representatives trying to get in and they were suspected as being agents of Vlad.

Wouldn't it be funny if on the 3rd of May, the situation was coming to a climax with the Police outside Tynie ready to arrest Southern and the FedEx man being waited on for a last minute delivery of the shares, with just 7 minutes to go.

[CropleyWasGod]

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If the meeting goes ahead, it depends on the status of the meeting. The UBIG creditors really have to talking about the Yams, be passing motions about share transfer, and probably even have to have the shares unfrozen by the Lith courts or a specific date for this happening very, very, very soon.

So it would be down to the status of the shares.

But this is finally getting exciting! Next Friday will be the big reveal!

And UKIO's approval, or otherwise, of the CVA. Don't discount that.

[inglisavhibs]

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The CVA has yet to be approved by the UKIO creditors.

I said a few pages back that UBIG's approval would be the easiest of the 3 hurdles to clear. If that does happen next week, there are 2 more difficult jobs to deal with.

That said, I would agree that, if it does go the way they want, BJ has done an excellent job.

Are the shares frozen due to criminal activity and if so are Hearts implicated? I know they were investigated for money laundering in Scotland but nothing was proved. I doubt all the UBIG assets will be unfrozen soon but the big question is whether the courts might somehow accept the release of the Hearts shares separately.

[Dashing Bob S]

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And UKIO's approval, or otherwise, of the CVA. Don't discount that.

I confess that I'm still struggling a bit to see why that should be as problematic...

[CropleyWasGod]

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Are the shares frozen due to criminal activity and if so are Hearts implicated? I know they were investigated for money laundering in Scotland but nothing was proved. I doubt all the UBIG assets will be unfrozen soon but the big question is whether the courts might somehow accept the release of the Hearts shares separately.

Who was investigated for money-laundering?

This is the report from last April on the freezing of the assets:-

http://www.bloomberg.com/news/2013-0...-s-assets.html

[CropleyWasGod]

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I confess that I'm still struggling a bit to see why that should be as problematic...

The UBIG creditors are being offered money for something that is, on paper, worthless. They should bite the hand off BDO for that. If they refuse, the CVA fails, and they get nothing.

On the other hand, the UKIO creditors are being offered sweeties for something that is, arguably, worth a lot more. If they refuse, the CVA fails and there is the potential to get more in a liquidation.

The first hurdle is, IMO, lower than the second. :)

[Liberal Hibby]

So let's take the best case scenario for the Yams:

Firstly, next Friday's meeting proves to be kosher and representatives of the Lith government banking insurance fund are in attendance

Next, they vote to accept the CVA and share transfer.

Next, the 30 day cooling off period has to pass

Next, the Lith Government reps have to agree to unfreeze the shares and set a date for a court hearing.

Next the court has to meet (although this could take place during the 30 day cooling off period)

That takes us at breakneck speed to the 1st May and much more likely until the end of May (at the earliest)

Then they have to draw up the various legal documents and guarantees that Budge will get her security and fans the eventual ownership of the club.

If I recall correctly for a reasonably straight forward administration Dunfermline took three months from actually formally agreeing the CVA to exiting admin (and came within a few hours of liquidation).

I can't see anyway for Hearts to exit admin before the start of next season if initial meetings are only being held now - and that's without the criminal investigations and asset freeze.

[KeithTheHibby]

Just passed the wonga dome literally 10 minutes ago, plenty suits and fancy motors leaving the place. Wonder what was going on?

[GreenLake]

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Just passed the wonga dome literally 10 minutes ago, plenty suits and fancy motors leaving the place. Wonder what was going on?

A meeting of the bored

[Springbank]

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The CVA has yet to be approved by the UKIO creditors.

I said a few pages back that UBIG's approval would be the easiest of the 3 hurdles to clear. If that does happen next week, there are 2 more difficult jobs to deal with.

That said, I would agree that, if it does go the way they want, BJ has done an excellent job.

The crux of his "excellent job" is similar to the rhetoric of Mussolini and others 90-100 years ago.

In summary, yes Mr AdminLith you could get upwards of £6m selling the land

But I have 6000-7000 blackshirts who pay money to FoH, they are hooligans (according to a recent google translation) and they will trash any development.

The weakness or inexperience of the AdminLith lies in the fact that, unlike most landowners, they don't take the view "as long as the readies are in my account, anything that happens to the land after that is someone else's problem"

I'd say that's Jackson's most impressive trick here. He's getting a £6m asset for £2.5m on the basis of shan threats
Not exactly a cause of admiration, dignity or pride, but impressive in a sleekit typically Jambo way

[Mixu62]

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Thing is the Hear7s fans have been right on everything from the start of the season. Here is the video evidence. Being a bitter Hobo I find it hard to take.

Love how the yams end get's progressively emptier as that video plays. Where are they all?

[GreenLake]

http://www.scotsman.com/sport/footba...opes-1-3348802

[Hero76]

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http://www.scotsman.com/sport/footba...opes-1-3348802

Basically BAnderson getting his pal to back him up so its not just him that looks like a right cock come the 28th.

[lord bunberry]

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http://www.scotsman.com/sport/footba...opes-1-3348802

So ubig are transferring the shares direct to budgie?

[marti1875]

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http://www.scotsman.com/sport/footba...opes-1-3348802

Yet again they continually choose to ignore that fact that the shares are FROZEN by the courts!
My god, they make it sound oh so simple that all that happens is they agree to sell the shares for £50,000 and that's it, so easy!

it's unreal just how they ignore the fact that the shares are FROZEN.

[GreenLake]

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Yet again they continually choose to ignore that fact that the shares are FROZEN by the courts!
My god, they make it sound oh so simple that all that happens is they agree to sell the shares for £50,000 and that's it, so easy!

it's unreal just how they ignore the fact that the shares are FROZEN.

They might have a fix in with the Lithuanian courts too but regardless of how well they can game the system they will suffer a horrible drop in resources than what they were used to splurging on their players. The permanent stigma of cheats attached to them will not be attractive to rich investors other than the one or two wealthy and equally deluded yamsters. They will have to self-generate their funding and what would the massive amount they have raised this year so far buy them? Not much even if they could spend it!

Instead the impoverished jambos have to give their kids ramen noodles while paying off their saviour and Chairwoman/Owner, who dresses in regal purple, drives elite cars, feasts on fine wine and food while she moves her £millions around in offshore tax shelters.


Newco Hearts should be known from henceforth as the "bowels" because the next few years is going to have them sh***ng out everything they own for the cause!

But it was worth it 5.1 1902, CVA, etc. and we are just bitter hobo peg sellers who died.

[Pete]

There can have as many meetings and arrangements on any subject in any country but they can't hide from the truth.

The only honourable way out after refusing to honour your debts is liquidation and starting again from scratch. If it were hibs then I would insist on it. I would want a clean break from the baggage that the previous regime had left us with.

If I was in charge of hibs and was to be offered a cup final victory plus a permanent association with a culture of acceptance regarding the sexual abuse of minors I would turn it down flat. Even if it was a 5-1 victory. No thanks.

The hearts greats of the fifties are probably turning in their grave at all of this revelling at the expense of others.

Knowing what they know now, they would probably refuse to even cast eyes on the last two trophies they "won".

[Gettin' Auld]

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£19.02

[Weststandwanab]

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Yet again they continually choose to ignore that fact that the shares are FROZEN by the courts!
My god, they make it sound oh so simple that all that happens is they agree to sell the shares for £50,000 and that's it, so easy!

it's unreal just how they ignore the fact that the shares are FROZEN.

Indeed, maybe this will help

http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&u act=8&sqi=2&ved=0CDAQtwIwAA&url=http%3A%2F%2Fwww.y outube.com%2Fwatch%3Fv%3DevxEOXkxRIA&ei=MuUrU_aqAc GshQe6yYGYCQ&usg=AFQjCNF-PeVD0yUnGtFITjojiJwtwJiDQQ&bvm=bv.62922401,d.d2k

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There can have as many meetings and arrangements on any subject in any country but they can't hide from the truth.

The only honourable way out after refusing to honour your debts is liquidation and starting again from scratch. If it were hibs then I would insist on it. I would want a clean break from the baggage that the previous regime had left us with.

If I was in charge of hibs and was to be offered a cup final victory plus a permanent association with a culture of acceptance regarding the sexual abuse of minors I would turn it down flat. Even if it was a 5-1 victory. No thanks.

The hearts greats of the fifties are probably turning in their grave at all of this revelling at the expense of others.

Knowing what they know now, they would probably refuse to even cast eyes on the last two trophies they "won".

Great post.

[Www1875hfc]

With Hibs selling out all their allocation for the up coming derby.
Heard Hear7s have asked hibs for the cash already?

Whats the timescale for Hibs handing over said cash?