Share Transfers Agreed/Cooling off period

[Gettin' Auld]

Tick Tock, Tick Tock, Tick Tock.........KABOOM!!!

It's been a lengthy wait, but at long last it looks like the Grim Reaper is about to kick the front door in at the PBS ................. Oh Ya ****in' Dancer!!!

GIRUY Yams!!!

[bingo70]

Whats the process if it comes clear after the 7th theres no resolution imminent?

Liquidation on the 8th or is there likely to be further deadlines set after this?

[Ozyhibby]

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Whats the process if it comes clear after the 7th theres no resolution imminent?

Liquidation on the 8th or is there likely to be further deadlines set after this?

Usually, once a decision is made to liquidate, it happens that day.

[blackpoolhibs]

Maybe if STF bought the whole shambles, and saved it for the community. Then put Rod bloody Petrie in charge of it, perhaps then we'd have a chance of getting one over them now and again.

[Springbank]

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It's sellable.

It's only UBIG's assets that are frozen. Tynecastle is not an asset of UBIG, it is owned by HMFC.

Thanks - that explains it.
Cheers.

[GREEN WARLORD]

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Maybe if STF bought the whole shambles, and saved it for the community. Then put Rod bloody Petrie in charge of it, perhaps then we'd have a chance of getting one over them now and again.

Maybe if he didn't, they would just die.

[blackpoolhibs]

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Maybe if he didn't, they would just die.

Thats my favorite option.

[Mikey]

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Whats the process if it comes clear after the 7th theres no resolution imminent?

Liquidation on the 8th or is there likely to be further deadlines set after this?

They'll see out the season.

[bingo70]

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They'll see out the season.

Thats why i asked, other poster suggesting liquidation would happen immediately. Surely tge fact theyre a football club wouldnt make them above normal financial laws/processes?

[c31]

Why is there more than 50% of people who voted on this thread want these tramps to survive?

[Mikey]

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Thats why i asked, other poster suggesting liquidation would happen immediately. Surely tge fact theyre a football club wouldnt make them above normal financial laws/processes?

Liquidation will happen immediately, but BDO and the footballing authorities won't let it happen until the last game has been played. They'll make sure they limp along so the season is completed.

I've been saying this for some time now.

It's game on once the final whistle goes on the last day though

[CropleyWasGod]

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Thats why i asked, other poster suggesting liquidation would happen immediately. Surely tge fact theyre a football club wouldnt make them above normal financial laws/processes?

To be clear, if they announce liquidation, they have to stop trading immediately.

What Mikey is saying is that, in his opinion, they will make it to the end of the season before they make that call. It's one I share.

[Sergey]

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They'll see out the season.

I agree. They need circa £600k to get them to the seasons end then that's when the plug will be pulled. Nothing is going to be agreed in Lithuania between now and then and BDO (given their experience with Portsmouth) will probably already know the game is as good as over.

They're not just dealing with one face any more - as Adomonis isn't the one who has the final say-so. There's the good folks at the Lithuanian State Insurance Dept who hold the majority vote on the Ukio Bankas creditors committee and there's Vytautas Sinius and his team at Siauliu Bank who know the deal is wrong in too many ways. They are probably on both the creditors lists of UBIG and Ukio and will want every last Lita that is owed.

The Yams are way-way down the pecking-order in the broad scheme of things and an email from Pishy Breeks and the Lith ambassador will be laughed all the way from Kaunas to Vilnius and back.

Also, lest we forget, all of UBIG's assets are still frozen.

[CropleyWasGod]

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Why is there more than 50% of people who voted on this thread want these tramps to survive?

Because that's democracy?

[Weststandwanab]

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To be clear, if they announce liquidation, they have to stop trading immediately.

What Mikey is saying is that, in his opinion, they will make it to the end of the season before they make that call. It's one I share.

Indeed and they would have to consider returning the advance they received unless the got to the end of the last league game.

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Because that's democracy?

And because we want to see this suffering continue for the Famous,

[Jim44]

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Why is there more than 50% of people who voted on this thread want these tramps to survive?

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Because that's democracy?

It would be interesting to refresh the poll to see how much folk have changed their opinions.

[Jim44]

The Jambos are discussing the Celtic view of their situation - http://videocelts.com/2014/03/blogs/...f-liquidation?

[Mikey]

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It would be interesting to refresh the poll to see how much folk have changed their opinions.

I think people have different interpretations of "getting away with it". I wouldn't be too impressed with anything less than League 2 and losing the PBS but that still wouldn't be enough for some.

There will be a team called Hearts (well, referred to as Hearts by the MSM) playing in maroon in some league and in some stadium next season. That you can be pretty sure of.

[3pm]

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I think people have different interpretations of "getting away with it". I wouldn't be too impressed with anything less than League 2 and losing the PBS but that still wouldn't be enough for some.

There will be a team called Hearts (well, referred to as Hearts by the MSM) playing in maroon in some league and in some stadium next season. That you can be pretty sure of.

Happy with that. Just want them to fold though.

[Ronniekirk]

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I agree. They need circa £600k to get them to the seasons end then that's when the plug will be pulled. Nothing is going to be agreed in Lithuania between now and then and BDO (given their experience with Portsmouth) will probably already know the game is as good as over.

They're not just dealing with one face any more - as Adomonis isn't the one who has the final say-so. There's the good folks at the Lithuanian State Insurance Dept who hold the majority vote on the Ukio Bankas creditors committee and there's Vytautas Sinius and his team at Siauliu Bank who know the deal is wrong in too many ways. They are probably on both the creditors lists of UBIG and Ukio and will want every last Lita that is owed.

The Yams are way-way down the pecking-order in the broad scheme of things and an email from Pishy Breeks and the Lith ambassador will be laughed all the way from Kaunas to Vilnius and back.

Also, lest we forget, all of UBIG's assets are still frozen.

Thank goodness for those Pesky Frozen Assets ,nice to know some things don't change .lets hope that's still the case at the next Derby

[chrisski33]

Im so peeved they are facing liquidation but yet they are able to beat us. Im sick of this thread lol please hearts die and disappear!

[CropleyWasGod]

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The Jambos are discussing the Celtic view of their situation - http://videocelts.com/2014/03/blogs/...f-liquidation?

And they think we have green-tinted specs?

[GreenLake]

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There is another possibility, of course, that an open sale might result in a lower price. If AB is the only bidder, and she knows that, there's nothing to stop her buying it for even less.

That way, she wins, and UKIO lose out.

At an open sale the holder of the security can outbid the lowball bidder and "pay" itself the purchase price. The good bank which owns the Ukio/UBIG assets should want to make the PBS a flat pad and hold it to reap a significant profit in the future. That is what banks that are profitable do and they are in no rush. Ukio's and UBIG's assets have probably already been sold at a fraction of the cost and thus to some other bank that is looking to make fat banker profits over time (e.g. Sauliu Bank who are stable and not in financial stress?). The laugh might well be that the Yams and the PBS have already been shifted for a fraction of $2.5m to another private Lithuanian bank. Checkmate!

[CropleyWasGod]

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At an open sale the holder of the security can outbid the lowball bidder and "pay" itself the purchase price. The good bank which owns the Ukio/UBIG assets should want to make the PBS a flat pad and hold it to reap a significant profit in the future. That is what banks that are profitable do and they are in no rush. Ukio's and UBIG's assets have probably already been sold at a fraction of the cost and thus to some other bank that is looking to make fat banker profits over time (e.g. Sauliu Bank who are stable and not in financial stress?). The laugh might well be that the Yams and the PBS have already been shifted for a fraction of $2.5m to another private Lithuanian bank. Checkmate!

Sorry, no

UKIO, being in admin, can't buy new assets. Your scenario is too much like "we owe it to ourselves".

[jdships]

Cue the entry of Salmond with a " Political " plea to save a "Scottish Sporting Institution "
" You heard it here first "

Had a phone call from a friend who is an SNP "Insider" (Aberdeen ST holder) at 21.30 suggesting this could " seriously be on the cards " !!!

[Ozyhibby]

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Sorry, no

UKIO, being in admin, can't buy new assets. Your scenario is too much like "we owe it to ourselves".

And Ubig can't sell as they're frozen.

[GreenLake]

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Sorry, no

UKIO, being in admin, can't buy new assets. Your scenario is too much like "we owe it to ourselves".

Thanks CWG, for destroying my Monday fantasy!

[Danderhall Hibs]

I caught ten minutes of Radio Scotland when I was in the car tonight - it was either the boy from BDO (Bajillions or whatever his name is) or Ian Murray MP - he seemed to be saying the Lithuanians have no option but to take the £2.5m. If they don't they'll get nothing or some such.

[Ozyhibby]

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The Jambos are discussing the Celtic view of their situation - http://videocelts.com/2014/03/blogs/...f-liquidation?

That article is as bad as anything Banderson ever wrote.
No chance of any of it happening. And they mix up their Ukio's and Ubigs.

[Ozyhibby]

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Cue the entry of Salmond with a " Political " plea to save a "Scottish Sporting Institution "
" You heard it here first "

Had a phone call from a friend who is an SNP "Insider" (Aberdeen ST holder) at 21.30 suggesting this could " seriously be on the cards " !!!

People keep trying to associate Alex Salmond with this? He has shown zero interest so far. The political interference has come from the Labour party.