Share Transfers Agreed/Cooling off period

[clerriehibs]

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Relax and enjoy the relegation party. All they've got to celebrate is shafting people, HMRC, banks, businesses and charities out of over £28m. Never stop reminding them of that.

Double that and half again.

[Phil D. Rolls]

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[Kato]

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Is that the French version of Gesundheit?

Ask someone on nevergettheirprideback, they have all the answers.

[wazoo1875]

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Well that's me freaked right out, cheers!! :-o

[Ronniekirk]

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What does all this mean ?

It's Life Spock but not as we know it

[Spike Mandela]

Another anniversary date nears.......

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

[Kaiser1962]

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Another anniversary date nears.......

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

It is worth remember the similarities between the situations of Vladimir Romanov and Vladimir Antonov, and that of their respective playthings, UKIO Bank and Snoras Bank. Antonov is currently on trial I believe and the assets of Snoras remain frozen. The Lithuanian authorities have previous and I fail to see how (or why) Romanov and UKIO could be treated any differently.

[tomf]

If it really is green lights all the way after Friday's meeting I guess that Hearts will exit aministration very soon and can get moving on selling their season tickets; they can start buying players again, they can even get big nose back I imagine, they can start looking at the plans to build that new stand (the slope and angle of the tiered seating to reflect a certain facial feature of you know who). They can face a season in the lower division in order to rebuild. They might have to consider a new management team of course to match their ambitions but they will be prepared to live within their means and face a season winning without Craig. They will be debt free and stronger for the experience.

I presume that one of the green lights is that the vote at the meeting automatically overturns the court ruling on the frozen shares and assets of Hearts and that everyone involved can move on to beating that bunch of financial miscreants from the West to the title.

I just think it is a little bit ironic that all of those lights are going to have to be green for it all to work out. It's a good thing they have nothing against the colour green.

[JollyGreenGiant]

So it only needs rubber stamped, they have been given the green light, blah blah blah #allisbarry

[GreenLake]

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So it only needs rubber stamped, they have been given the green light, blah blah blah #allisbarry

They are marching on with their heads above the clouds.

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[Kato]

I'm pretty neutral as to whether they get the liquidizer or not. Watching the flumps turn on each other over the next couple of seasons will be just as entertaining. That's "if" they have the Green Light/Rubber Stamp. I say "if" because never have so many flumps waffled as much crap to each other and believed it as that lot do and the whole thing could be a load of old cobblers. .

[Dashing Bob S]

The party I feel most sorry for in all this unseemly mess is the rubber stamp.

His replacement by the green light has been both ruthless and callous.

It seems like he's joined the fax machine, the million-pound box of stand planning applications and Larry Kingston on the pile of broken down machinery.

[PatHead]

I still want them dead now. Not wriggling away..............dead.

[hibees 7062]

The administrator in charge of Heart of Midlothian’s largest creditor has told STV he believes the deal to transfer shares in the club to the new owners will be given the green light next week

Gintaras Adomonis of Valnetas UAB, the firm overseeing the bankruptcy of Vladimir Romanov’s collapsed Ukio Bankas, confirmed a meeting of the creditors of the bank will convene on Friday.

[Joe6-2]

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The party I feel most sorry for in all this unseemly mess is the rubber stamp.

His replacement by the green light has been both ruthless and callous.

It seems like he's joined the fax machine, the million-pound box of stand planning applications and Larry Kingston on the pile of broken down machinery.

[Jack]

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The administrator in charge of Heart of Midlothian’s largest creditor has told STV he believes the deal to transfer shares in the club to the new owners will be given the green light next week

Gintaras Adomonis of Valnetas UAB, the firm overseeing the bankruptcy of Vladimir Romanov’s collapsed Ukio Bankas, confirmed a meeting of the creditors of the bank will convene on Friday.

All hail STV for actually speaking to someone, other than our own experts, who might know whats going on. Here's hoping it catches on.

[Ronniekirk]

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The administrator in charge of Heart of Midlothian’s largest creditor has told STV he believes the deal to transfer shares in the club to the new owners will be given the green light next week

Gintaras Adomonis of Valnetas UAB, the firm overseeing the bankruptcy of Vladimir Romanov’s collapsed Ukio Bankas, confirmed a meeting of the creditors of the bank will convene on Friday.

Strange Green Lights over Midlothian It's all a bit Alien to me ,Have we not been here before only to find out that UFO s don't actually Exist

[Sergey]

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The administrator in charge of Heart of Midlothian’s largest creditor has told STV he believes the deal to transfer shares in the club to the new owners will be given the green light next week

Gintaras Adomonis of Valnetas UAB, the firm overseeing the bankruptcy of Vladimir Romanov’s collapsed Ukio Bankas, confirmed a meeting of the creditors of the bank will convene on Friday.

Lets analyse what exactly is said in the STV report.

The creditors meeting held on the 28th of March will be the meeting of Ukio Bankas creditors, not UBIG.

Old news - I knew this on Friday and the UBIG administrators informed moi only this morning that there is no meeting planned.

“It is considered that the creditors of Ukio Bankas will approve the deal of Hearts sale to BIDCO. There are no reasons to believe in any other decision as no alternatives have been proposed to be included in the agenda.

Hmm - not sure about the 'no alternatives' statement - there are other alternatives. Selling the real estate at market value is the most obvious one.

As far as we know, UBIG’s creditors meeting is planned at the end of the next week, but it is still to be confirmed.

hibs.net are one step ahead of you on this one Adomonis/Borthwick - We know only too well that a date is yet to be confirmed.

We believe that the creditors of UBIG will also approve the deal during the meeting and it will be green lights all the way

Belief and fact aren't the same thing - I'd also like to know who the 'we' are - 'believe' what the creditors of UBIG will do isn't within your control.

If the approval by the creditors of Ukio Bankas and UBIG is on hand, the process will move forward as soon as possible.

So we have a "as far as we know" a "we believe" and an "if" in the report that was written by a Jambo journalist who's relative robbed the Willie Bauld Charity for £10k.

Other than Banderson and Borthwick, no other info is being reported.

Maybe the Lithuanian press is where to garner the real facts of the matter...or on here!

[Ronniekirk]

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I still want them dead now. Not wriggling away, dead.

If they are dead how can they wriggle away

[PatHead]

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If they are dead how can they wriggle away

Sorted the original post -

[greenginger]

http://www.scotsman.com/sport/footba...ship-1-3352250


Scotsman catching up with Hibs.net


" UBIG creditors meeting not on Friday as previously claimed "

[Peevemor]

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http://www.scotsman.com/sport/footba...ship-1-3352250


Scotsman catching up with Hibs.net


" UBIG creditors meeting not on Friday as previously claimed "

Are UBIG not their largest creditor?

[Stonewall]

Can someone answer me this?

If UKIO agree to the CVA and the money for the transfer of the shares is paid across, what happens if it subsequently proves impossible to get the UBIG shares defrosted?

Is there not a very real danger that Hearts would then go into liquidation and the money be lost to foh?

Unless:

1. There is a condition on the sale to the effect that all bids are off if the UBIG shares can't be released by a certain date. I wouldn't be happy about this if I were the UKIO admins and I knew market value for the sale of the pbs could be obtained.

2. BDO and foh are 99.9% sure that the share transfer will be waved through by the UBIG liquidators and Lithuanian courts within a very short time frame.

3. Hearts can limp on in administration until such time as the shares are released.

[Peevemor]

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Can someone answer me this?

If UKIO agree to the CVA and the money for the transfer of the shares is paid across, what happens if it subsequently proves impossible to get the UBIG shares defrosted?

Is there not a very real danger that Hearts would then go into liquidation and the money be lost to foh?

Unless:

1. There is a condition on the sale to the effect that all bids are off if the UBIG shares can't be released by a certain date. I wouldn't be happy about this if I were the UKIO admins and I knew market value for the sale of the pbs could be obtained.

2. BDO and foh are 99.9% sure that the share transfer will be waved through by the UBIG liquidators and Lithuanian courts within a very short time frame.

3. Hearts can limp on in administration until such time as the shares are released.

From what I remember, the FOH offer is conditional on their getting hold of both the UKIO and UBIG shares.

[Ronniekirk]

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From what I remember, the FOH offer is conditional on their getting hold of both the UKIO and UBIG shares.

The budgie hasn't uttered a cheap fae that beak of hers for a while .So there are iether unforeseen problems and she doesn't want to impart bad news till after team are relegated or BJ with added impetus of her legal team and some business sweeteners along the way are working frantically behind the scenes to .get the deal pushed through by her stated deadline which was end of April.she knows Memorandums of Understanding are Nae use .whether the shares get unfrozen in that timescale or a definite date agreed when that bit can happen I don't know but if she doesn't have that all signed sealed delivered and unfrozen by them surely it has to be Liquidation

[marti1875]

Apologies in advance if i may have missed something here but.....is it really so simple as say they agree to the shares handover at this meeting and they just hand them over?? Does it not need to get the OK from the courts before any shares can change hands?

[greenginger]

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Are UBIG not their largest creditor?

No, Ukio Bankas owed £ 15.48 million, UBIG owed £ owed £ 8.15 million by the Yams.

UBIG probably owe the £ 8.15 million and a hell of a lot more to Ukio Bankas but that' a different story.

UBIG are the largest shareholder.

[Craig_in_Prague]

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Apologies in advance if i may have missed something here but.....is it really so simple as say they agree to the shares handover at this meeting and they just hand them over?? Does it not need to get the OK from the courts before any shares can change hands?

Question is even more relevant with the UBIG shares; given they need them for majority control.

Despite all the good information on here, the UBIG shares remain a bit unclear IMO and we are certainly nearing the end game, one way or another this will be clear in a matter of weeks.

[Ronniekirk]

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Question is even more relevant with the UBIG shares; given they need them for majority control.

Despite all the good information on here, the UBIG shares remain a bit unclear IMO and we are certainly nearing the end game, one way or another this will be clear in a matter of weeks.

Once we relegate them fans will be Seething .will be interesting to see how they deal with things in aftermath of this as recrimination and blame and guilt and sense of loss as it's another nail in their coffin .if there is potential good news they will need to talk it up to placate the 400,000 hordes descending on Tynie looking for answers

[NOLA]

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http://www.scotsman.com/sport/footba...ship-1-3352250


Scotsman catching up with Hibs.net


" UBIG creditors meeting not on Friday as previously claimed "

also claims that meeting is at the end of next week, barry must of gotten his meetings mixed up