Share Transfers Agreed/Cooling off period

[Springbank]

Terrible journalist but (on tonight's evidence) a decent salesman. He'll boost circulation in west Edinburgh on Wednesday by sounds of if, even though it'll be guff.

Seems hearts fans can add the DR to the list of "people who fleece the Famous" haha

[GreenLake]

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Terrible journalist but (on tonight's evidence) a decent salesman. He'll boost circulation in west Edinburgh on Wednesday by sounds of if, even though it'll be guff.

Seems hearts fans can add the DR to the list of "people who fleece the Famous" haha

The Daily Roaster

[Waxy]

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Keith Jackson from the Record is tweeting "news from Lithuania, things may not be that bad"

Who knows what that means.

It means all jambos buy our paper or read our website.

[Moulin Yarns]

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"Trailing on Twitter that there is Hearts news in tomorrow's Daily Ranger from Lithuiania. And its "not all bad". Whatever that means!!!!!!"

Something has rattled the cages over the road. Any guesses?

Misreading of this article?

http://www.dailyrecord.co.uk/news/sc...mpaign-3320146

[CyberSauzee]

http://m.scotsman.com/sport/football...ator-1-3360654

"It does seem there are one or two creditors who want more information or are not happy with the deal and think the property is worth more money and so on,” Jackson told BBC Scotland. “But that is not the reality. We have supplied all the information and we really don’t believe there could be a better deal. I don’t believe that trying to sell off the ground in any other way would benefit the creditors."

As CWG has pointed out on numerous occassions, the admins primary objetive is to save the business as a going concern, followed by getting the best deal for creditors. Here BJ is ignoring getting the best deal for creditors.

[Waxy]

I suppose he has to or football fans wont want them as administrators in future.

[Winston Ingram]

Here's Keith Jackson's article

http://www.dailyrecord.co.uk/sport/f...trator-3338926

[Weststandwanab]

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I suppose he has to or football fans wont want them as administrators in future.

Plenty more sharks in the IP sea

[QMU-1875]

Jackson from DR saying deal will be rubber stamped. Fact is that they will be saved and BDO have played a blinder, can't see anything else happening!

[Danderhall Hibs]

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Jackson from DR saying deal will be rubber stamped. Fact is that they will be saved and BDO have played a blinder, can't see anything else happening!

If Jackson says it then it must be true.

[Ronniekirk]

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Jackson from DR saying deal will be rubber stamped. Fact is that they will be saved and BDO have played a blinder, can't see anything else happening!

Well with all these different stories coming out we will just have to wait and see what is being said after the meeting on the 7th .Black Sabbath didn't happen and not taking for granted the big L will until it's official ,but Technical Details not being ironed out and incomplete paperwork not being ready to rubber stamp seem to the key that's holding back the green for go.

[matty_f]

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If Jackson says it then it must be true.

That Lith gadgie said there'd be no problems last week. He's a wind-up merchant imho (pun intended).

[Weststandwanab]

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Jackson from DR saying deal will be rubber stamped. Fact is that they will be saved and BDO have played a blinder, can't see anything else happening!

If the meeting goes ahead, if these two creditor banks change their minds about the £2.5m, if the Creditors rubber stamp the deal that would be major success.

Only then would they go to court and ask the Courts to unfreeze the shares which are part of an ongoing international Money Laundering case, exactly the same as Portsmouth with the same Administrators...........

Keep the faith.

[jakeshibs]

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Here's Keith Jackson's article

http://www.dailyrecord.co.uk/sport/f...trator-3338926

so is that it then, they have survived? I was really looking forward to the satisfaction of the big L, I want them to suffer.

[GlasgowHibee]

There's hardly been a single mention of the supposed "Frozen" shares in any media outlet, is this the next obstacle for them to overcome after it's been rubber stamped?

[dangermouse]

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How long before they come up with a Plan B?

Rangers had it built in to the proposed CVA throughout.

Is it already too late to get a Newco up and running in time for election to League Two (or Lowlands League)?

Will there be competition (Shoeless Bob, Massone, Hibs-net?) for the purchase of the club name and identity by FoH from the the liquidator?

Applications to join the Lowland League closed yesterday. At lunchtime I was aware that seven clubs had submitted applications for the four remaining places. I don't know the names of the teams that applied but I do know that the Famous were not one of them

[Jim44]

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If the meeting goes ahead, if these two creditor banks change their minds about the £2.5m, if the Creditors rubber stamp the deal that would be major success.

Only then would they go to court and ask the Courts to unfreeze the shares which are part of an ongoing international Money Laundering case, exactly the same as Portsmouth with the same Administrators...........

Keep the faith.

What I can't understand is that all the references to their getting a result I've read, in the media or in quotes from Jackson et al, have centred on the result of creditors' meetings. Our thread for months has had 'frozen shares' in it's title and continuous reference here to this 'fact'. We seem to assume that the 'frozen shares' is a major impasse to solving their problem but their lack of concern about the 'temperature' of the shares is unimportant or maybe a minor inconvenience. According to the 'other side' it would appear that a 'yes' on Monday from the creditors is the end of their most serious concerns.

[robinp]

So lets look at Jacks-hun's article. There are no actual quotes from the administrator of either UKIO or Hearts. We have a BDO source and a spokesmen.

Take away all the padding and opinion from Jackson and this is what we have:

The PR man for the administrator says:

So, most probably, the deal will have a “‘yes’ on April 7

He also contradicts himself somewhat:

We could not speak in the name of UBIG but as far as we know every major creditor is set to approve the deal during the creditors’ meeting on April 7.

“Siauliu Bank is the biggest creditor of UBIG and it has some alternative opinion towards the deal, but there are no known obstacles at a moment.

So he also says we do not act in the case of UBIG but we heard all creditors are in agreement to it, except the biggest creditor who have an "alternative opinion" towards the deal on offer for the Hearts shares.

Doesn't sound too rosey in my mind, what about you?

This reminds me of the EEN/Scotsman story that the Vlad Bank building in St Andrew Square has been sold.....except there is nothing of sorts in the story at all and it's a totally misleading headline!!

Edit: here is the Scotsman Story with the misleading headline!:
Bank sold to pay ex-Hearts owner Romanov’s debts

[Saorsa]

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What I can't understand is that all the references to their getting a result I've read, in the media or in quotes from Jackson et al, have centred on the result of creditors' meetings. Our thread for months has had 'frozen shares' in it's title and continuous reference here to this 'fact'. We seem to assume that the 'frozen shares' is a major impasse to solving their problem but their lack of concern about the 'temperature' of the shares is unimportant or maybe a minor inconvenience. According to the 'other side' it would appear that a 'yes' on Monday from the creditors is the end of their most serious concerns.

Read it all before in the papers and it's always turned out otherwise so I wouldnae panic. In the only other example of frozen shares in Lithuania the frozen shares still remain frozen in the Lithuanian legal process.

[haagsehibby]

To use Churchill's quote on Russia, the whole thing is "a riddle wrapped in a mystery inside an enigma" !!

[Keith_M]

Keith Jackson, two words to strike terror into the hearts of real journalists everywhere.


You do all know who wrote the "Craig Whyte, wealth off the radar" story don't you?

[magpie1892]

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Keith Jackson, two words to strike terror into the hearts of real journalists everywhere.


You do all know who wrote the "Craig Whyte, wealth off the radar" story don't you?

Media House wrote it.

[Stonewall]

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What I can't understand is that all the references to their getting a result I've read, in the media or in quotes from Jackson et al, have centred on the result of creditors' meetings. Our thread for months has had 'frozen shares' in it's title and continuous reference here to this 'fact'. We seem to assume that the 'frozen shares' is a major impasse to solving their problem but their lack of concern about the 'temperature' of the shares is unimportant or maybe a minor inconvenience. According to the 'other side' it would appear that a 'yes' on Monday from the creditors is the end of their most serious concerns.

The way I see it is that no-one on here actually knows whether unfreezing the shares is an issue or not. Assuming that our reading vis a vis the status of the shares is correct it seems strange to me that there has been no reference to the issue by BDO and no-one in the MSN has asked them the question. In these circumstances it would be a massive blow to BDO's professional reputation and credibility if they were to get the CVA agreed only for this issue to 'come out of the woodwork', apparently unforeseen, at the last minute and trigger the liquidation. What would BDO have to gain in a professional sense from doing this unless they had obtained credible advice from the Lithuanian side that it would not be an issue?

I don't know what conclusions to draw from this, I just don't get it.

[Elephant Stone]

[CropleyWasGod]

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The way I see it is that no-one on here actually knows whether unfreezing the shares is an issue or not. Assuming that our reading vis a vis the status of the shares is correct it seems strange to me that there has been no reference to the issue by BDO and no-one in the MSN has asked them the question. In these circumstances it would be a massive blow to BDO's professional reputation and credibility if they were to get the CVA agreed only for this issue to 'come out of the woodwork', apparently unforeseen, at the last minute and trigger the liquidation. What would BDO have to gain in a professional sense from doing this unless they had obtained credible advice from the Lithuanian side that it would not be an issue?

I don't know what conclusions to draw from this, I just don't get it.

BJ has consistently said that getting the shares will be the hardest part of his job.

Hibs.net has consistently said that getting the CVA agreed and the share transfer agreed have to come first, before the Lithuanian Courts are approached.

As for the "no-one in the MSN has asked them the question."..... as has often been said, do they know which questions have to be asked?

The question is not "unforeseen". It's there, and BDO know the answer. It just hasn't been asked by the MSM.

#Just Ask,Guys http://threedeevision.blogspot.co.uk/

[Waxy]

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Applications to join the Lowland League closed yesterday. At lunchtime I was aware that seven clubs had submitted applications for the four remaining places. I don't know the names of the teams that applied but I do know that the Famous were not one of them

When they go bust it will open up a new slot. I guess the newco Hurtz fc 1874 wil get first refusal. Is Saughton enclosure up to standard though?

[Mikey]

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Fact is that they will be saved and BDO have played a blinder, can't see anything else happening!

Based on what?

[Keith_M]

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Based on what?

He's a Hibby, it's based on years of being let down just when you think you're finally going to get what you wanted.

It's a natural pessimism ingrained into those of the green persuasion



Anyway, he's right, Hearts are going to be saved on Monday. Keith Jackson and Barry Anderson told me.

[God Petrie]

I'm getting bored of all this to be honest. Hurry up and die so I can get on with worrying about the only team in Edinburgh.

[Weststandwanab]

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What I can't understand is that all the references to their getting a result I've read, in the media or in quotes from Jackson et al, have centred on the result of creditors' meetings. Our thread for months has had 'frozen shares' in it's title and continuous reference here to this 'fact'. We seem to assume that the 'frozen shares' is a major impasse to solving their problem but their lack of concern about the 'temperature' of the shares is unimportant or maybe a minor inconvenience. According to the 'other side' it would appear that a 'yes' on Monday from the creditors is the end of their most serious concerns.

It was the reason why BJ and BDO could not get Portsmouth out with a C.V.A. and they then were Liquidated with the shares still frozen today.

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Read it all before in the papers and it's always turned out otherwise so I wouldnae panic. In the only other example of frozen shares in Lithuania the frozen shares still remain frozen in the Lithuanian legal process.

Exactly

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Based on what?

I agree once BJ signs the forms starting the big L.