Share Transfers Agreed/Cooling off period

[Jim44]

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I would be shocked and stunned if they go against the advice of the admin. They will get it through.
It's all down to the frozen shares now.

If the shares are still frozen, what's the point of UBIG giving their blessing next week? Is it possible that freezer was 'faulty' and the shares have defrosted to the point where they can be moved on?

[CropleyWasGod]

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If the shares are still frozen, what's the point of UBIG giving their blessing next week? Is it possible that freezer was 'faulty' and the shares have defrosted to the point where they can be moved on?

I can give my blessing to you buying my house if I want.

However, if there is an inhibition on the sale of the house, you can't have it.

[Weststandwanab]

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If the shares are still frozen, what's the point of UBIG giving their blessing next week? Is it possible that freezer was 'faulty' and the shares have defrosted to the point where they can be moved on?

So they appear to the Famous to being "helpful" and when the big L looms they can hold their hands up and say "It wasnae us"

In Lithuanian obviously.

[ehf]

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Despite the gallows humour of some of KBs diehards (let's take inflatable Scottish Cups, haw haw), the Yam on the street will finally appreciate the full horror of their demise on Sunday.

My guess is that nothing will shut the Hibs fans up. The game is an irrelevance, what's more significant is that they team they ended forever will be there to wave them off on their great adventure.

Disagree with that; all they need to do to shut us up is to beat us, and they almost certainly will.

[Leithenhibby]

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Disagree with that; all they need to do to shut us up is to beat us, and they almost certainly will.

Much!

We will do them I'm sure, as sure as I can be...............

[Killiehibbie]

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I can give my blessing to you buying my house if I want.

However, if there is an inhibition on the sale of the house, you can't have it.

Would your creditors allow me to buy it for a fraction of its value?

[Ozyhibby]

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Disagree with that; all they need to do to shut us up is to beat us, and they almost certainly will.

Your a cheery soul. :-)
Although my own confidence is at new low going into this derby I'm still hopefull.

[Waxy]

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Disagree with that; all they need to do to shut us up is to beat us, and they almost certainly will.

Naaaaaaaaaaah

[Onion]

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Rubber Stamps all round! Good to see Barry has given up on the idea of sourcing his own material though.

[Phil D. Rolls]

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So they appear to the Famous to being "helpful" and when the big L looms they can hold their hands up and say "It wasnae us"

In Lithuanian obviously.

Nobody kicks a dead dog.

[Ozyhibby]

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Would your creditors allow me to buy it for a fraction of its value?

Yes. Houses that have been repossessed are usually sold on at a fraction of the value. The bank are not lying when they say they don't want to repossess your house. And when they do they want shot of it as quick as possible.

[Killiehibbie]

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Yes. Houses that have been repossessed are usually sold on at a fraction of the value. The bank are not lying when they say they don't want to repossess your house. And when they do they want shot of it as quick as possible.

Is this not usually at auction on the open market?

[Ozyhibby]

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Is this not usually at auction on the open market?

Not always.

[CropleyWasGod]

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Would your creditors allow me to buy it for a fraction of its value?

Whether they did or not, if there's an inhibition on it, you can't.

(BTW, the UBIG creditors aren't being asked if they want to sell the PBS at a fraction of its worth.)

[angus hibee]

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I would be a lot happier if someone could get positive confirmation that the UBIG shares are still frozen.

Is it possible our 'experts' have missed something. It has been a fairly mild winter.

[GreenLake]

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Whether they did or not, if there's an inhibition on it, you can't.

(BTW, the UBIG creditors aren't being asked if they want to sell the PBS at a fraction of its worth.)

There is nothing else on the agenda than the CVA, according to Gintaras, making it look like there isn't an option to auction off the PBS and raise £22 million less the amount the market has fallen in the last few years.

[Geo_1875]

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There is nothing else on the agenda than the CVA, according to Gintaras, making it look like there isn't an option to auction off the PBS and raise £22 million less the amount the market has fallen in the last few years.

I find it hard to believe that they have scheduled a meeting simply to rubber-stamp the FoH CVA offer. Is this a full creditors meeting?

[Phil D. Rolls]

Samuel Goldfish asks:

Can you really categorise this as a delay when it's part of the process and probably came as a shock to nobody other than the journo writing that article for the Scotsman?


Fed up with their ridiculous headlines tbh. They just about never ever match the gist of the content these days.

Well Sam it depends. Y'see it's all down to how you define "delay".

if you expected to be out of admin by the start of this season, you might well see this as a delayed meeting.

Likewise, if you thought you'd be signing players in January, it's also a delay.

However, if you were under the impression that Mrs. Budge would be in charge by the end of March, then delay is maybe a bit too strong.

I prefer to use the expression "hold up".

Its all about perspective. And on a positive note, if you didn't expect to be out of administration before next season, Christmas has come early.

But not for your kids. Don't you feel guilty about telling them your family is Jewish now?

I suppose it's how you define guilt. Your club is Cattle Trucked by the way.

[HUTCHYHIBBY]

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I can give my blessing to you buying my house if I want.

However, if there is an inhibition on the sale of the house, you can't have it.

Ah, takes me back to my Registers of Scotland days @ MBH!

[carnoustiehibee]

This is a quote from Keyser Soze about Barry Anderson

"The big trick the devil ever pulled was convincing the jambos everything would be ok"

[WindyMiller]

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Try not to spook them. They really believe they are going for a shower. A stampede could be messy.

This must be e real thread now!

You've invoked Godwin's Law.

[Caversham Green]

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I find it hard to believe that they have scheduled a meeting simply to rubber-stamp the FoH CVA offer. Is this a full creditors meeting?

My guess is that it's the first meeting of the creditors committee that was elected at the last full creditors meeting. If that is the case they are likely to consider the issues surrounding Ukio's demise very broadly and The Famous are unlikely to get much air time unless BDO have managed to get them fast-tracked.

I think the point of the administrator's comment was that there was no counter-proposal to the CVA on the agenda, however that may come during the meeting itself. Time will tell.

[Brunswickbill]

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Is it possible our 'experts' have missed something. It has been a fairly mild winter.

http://www.lithuaniatribune.com/3427...ets-201334278/

http://web.orange.co.uk/article/spor...rozen_by_court

[CropleyWasGod]

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My guess is that it's the first meeting of the creditors committee that was elected at the last full creditors meeting. If that is the case they are likely to consider the issues surrounding Ukio's demise very broadly and The Famous are unlikely to get much air time unless BDO have managed to get them fast-tracked.

I think the point of the administrator's comment was that there was no counter-proposal to the CVA on the agenda, however that may come during the meeting itself. Time will tell.

I'm coming round to that conclusion myself, Cav. The lack of public notice kinda confirms that. The UKIO admin is being a bit opaque when he says "creditors", when it's not really.

They may have a different way of doing things in Lithuania, of course, but for UK insolvencies, I've posted below what a CC normally does. (I know you know this, Cav... it's no for you. )

The principal functions of the committee are to sanction the exercise of certain of the trustee or liquidator’s powers and to fix his remuneration.

In addition to its statutory functions the committee may also serve to assist the trustee/ liquidator generally and act as a sounding board for him to obtain views on matters pertaining to the bankruptcy or liquidation.

[HappyAsHellas]

I'm somewhat confused by all the financial comings and goings in this sordid little maroon tinged saga. As I understand it the Fools of Hearts all pay £175 per annum which comes to 1.4 million, which at today's running costs covers the yams for about 3 months. This being the case does that mean that budgie will have to front £4.2 million along with the Fools just to have them running for a year?
On top of this I presume the creditors will want the £2 million up front for the PBS. So before buying another top player like Nade they'll have to fork out more than £6 million just to survive a year?
If this is the case, why do some people seem concerned about the big L? I gather some will view it as the icing on the cake but given that they'll be condemned to whist drives and tombola's to keep breathing for the next few seasons, what is all the fuss about?
Oh, the sad deluded fools over on Brokeback are discussing the board and the role of Fools in the appointment of the future board. One naive little moron actually posted that they "don't want to be run like amateurs" Oh, you couldn't make it up.....

[EK_Hibs]

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Is it possible our 'experts' have missed something. It has been a fairly mild winter.

I don't believe anyone's missed anything and we've probably gone over this already. But I remain concerned that the freezer will remain plugged in. The courts froze these shares but the courts also appointed administrators to do a job. Hence my concerns.

[CropleyWasGod]

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I'm somewhat confused by all the financial comings and goings in this sordid little maroon tinged saga. As I understand it the Fools of Hearts all pay £175 per annum which comes to 1.4 million, which at today's running costs covers the yams for about 3 months. This being the case does that mean that budgie will have to front £4.2 million along with the Fools just to have them running for a year?
On top of this I presume the creditors will want the £2 million up front for the PBS. So before buying another top player like Nade they'll have to fork out more than £6 million just to survive a year?
If this is the case, why do some people seem concerned about the big L? I gather some will view it as the icing on the cake but given that they'll be condemned to whist drives and tombola's to keep breathing for the next few seasons, what is all the fuss about?
Oh, the sad deluded fools over on Brokeback are discussing the board and the role of Fools in the appointment of the future board. One naive little moron actually posted that they "don't want to be run like amateurs" Oh, you couldn't make it up.....

I believe she's putting up £3.5m upfront. £2.5m for the purchase, and £1m for working capital.

Then a further £1.4m a season for 2 seasons.

[Leithenhibby]

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I believe she's putting up £3.5m upfront. £2.5m for the purchase, and £1m for working capital.

Then a further £1.4m a season for 2 seasons.

So, they'er quids in!....

[Brunswickbill]

http://www.hmsa.org.uk/news/4553935261
Q&A. With Iwasanmp should be entertaining if unenlightening.

[CropleyWasGod]

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I don't believe anyone's missed anything and we've probably gone over this already. But I remain concerned that the freezer will remain plugged in. The courts froze these shares but the courts also appointed administrators to do a job. Hence my concerns.

The issue is whether the administrator has the power to sell the assets.

He has "possession" of them, but that doesn't mean he "owns" them. Going back to my house analogy, I can have possession of it, and I might even own it, but I don't necessarily have the power to sell it.

Of course, we're all farting around here trying to get to the bottom of Lith law. It would be very handy if one of Her Majesty's Press would pick up a phone and bloody ask someone.