Share Transfers Agreed/Cooling off period

[Hermit Crab]

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Jamie Borthwick from STV saying Vlad has been arrested in Moscow. That could be even more delays for Hearts if there is a criminal investigation about to start?

He will mysteriously perish in the hands of the KGB

[greenginger]

http://www.lrytas.lt/-13968738571396...%85-hearts.htm

Article from Lith. press on the UBIG share " agreement " from yesterday.

Third paragraph is worth noting.

" According to her ( UBIG Admin. ) the transaction will take place if not appealed the creditors meeting minutes. She hinted that the meeting was conflicting transaction. "

So all not quite done and dusted either.

[CropleyWasGod]

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The BBC and Maclaughlin in his update from lith last night on sport sound said that ukio owned tyne castle.

I thought our ITK chaps were sure Hertz(IA) still owned the stadium.

#moreincorrectreporting

They do.

[Off the bar]

http://www.bbc.co.uk/sport/0/football/26935230

Hearts administrators BDO are trying to establish if money due to be handed out at the end of the season can be paid to the club now.
BDO have approached the Scottish Professional Football League as they seek to raise cash to help Hearts fulfil their fixtures.
Relegation was confirmed on Saturday but Hearts will still be due a share of Scottish Premiership monies.
It is believed BDO only have enough money to keep Hearts going until April.
However, if extra funds can be found it is hoped full agreement over Anne Budge's proposed takeover can be finalised by the time the season ends.
Creditors of major shareholder UBIG have agreed to transfer their 50% holding to BIDCO, the Budge-backed vehicle for future fan control of Hearts.
But no deal has yet been reached regarding the 29% shares held by Ukio Bankas, which holds a charge on Tynecastle Stadium.
With the Premiership now splitting in two, Hearts have five fixtures remaining against their fellow bottom-six sides. The Tynecastle outfit's next match is against Ross County on 19 April.

[CropleyWasGod]

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http://www.bbc.co.uk/sport/0/football/26935230

Hearts administrators BDO are trying to establish if money due to be handed out at the end of the season can be paid to the club now.
BDO have approached the Scottish Professional Football League as they seek to raise cash to help Hearts fulfil their fixtures.
Relegation was confirmed on Saturday but Hearts will still be due a share of Scottish Premiership monies.
It is believed BDO only have enough money to keep Hearts going until April.
However, if extra funds can be found it is hoped full agreement over Anne Budge's proposed takeover can be finalised by the time the season ends.
Creditors of major shareholder UBIG have agreed to transfer their 50% holding to BIDCO, the Budge-backed vehicle for future fan control of Hearts.
But no deal has yet been reached regarding the 29% shares held by Ukio Bankas, which holds a charge on Tynecastle Stadium.
With the Premiership now splitting in two, Hearts have five fixtures remaining against their fellow bottom-six sides. The Tynecastle outfit's next match is against Ross County on 19 April.

Since when?

[Off the bar]

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Since when?

From the ever reliable Brian McLauchlin

[HIBERNIAN-0762]

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http://www.bbc.co.uk/sport/0/football/26935230

Hearts administrators BDO are trying to establish if money due to be handed out at the end of the season can be paid to the club now.
BDO have approached the Scottish Professional Football League as they seek to raise cash to help Hearts fulfil their fixtures.
Relegation was confirmed on Saturday but Hearts will still be due a share of Scottish Premiership monies.
It is believed BDO only have enough money to keep Hearts going until April.
However, if extra funds can be found it is hoped full agreement over Anne Budge's proposed takeover can be finalised by the time the season ends.
Creditors of major shareholder UBIG have agreed to transfer their 50% holding to BIDCO, the Budge-backed vehicle for future fan control of Hearts.
But no deal has yet been reached regarding the 29% shares held by Ukio Bankas, which holds a charge on Tynecastle Stadium.
With the Premiership now splitting in two, Hearts have five fixtures remaining against their fellow bottom-six sides. The Tynecastle outfit's next match is against Ross County on 19 April.

Remarkable arrogance.

Why do they think they are entitled to this money now?

Utter desperation here and if the SPFL have any hee haws they will tell them to eff off.

What a bloody cheek!

[Technofob]

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They do.

Thanks for that.

As has been said many times on here,these guys are primarily sports reporters but there is no excuse for getting the basics wrong time and again.

[jacomo]

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Since when?

At yesterday's meeting? Isn't this what they are all getting excited about?

Following that story, it then says that Ukio are expected to meet 'by the end of next week' - so not specifically Friday, but the Easter holiday will surely put a spanner in the works.

[jacomo]

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Remarkable arrogance.

Why do they think they are entitled to this money now?

Utter desperation here and if the SPFL have any hee haws they will tell them to eff off.

What a bloody cheek!

It's the Gretna precedent. BDO will say they can't complete the season without it, and I imagine SPFL will advance them the money on that basis.

[greenginger]

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Remarkable arrogance.

Why do they think they are entitled to this money now?

Utter desperation here and if the SPFL have any hee haws they will tell them to eff off.

What a bloody cheek!

Football debts in the region of £ 535,000. How much is the final payment to the bottom club in the league ?

Maybe £ 535,000.15 .....

[brog]

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Has a figure been set for the football related debts for football related debts for Hearts?

I was talking to Andy Driver's former flatmate and he reckons he was due around £135,000 in unpaid wages from Hearts.

Those sort of figures will be a lot to carry for any Newco in League Two or the Lowland League.

I think CWG confirmed already, total football debts are £535,000 & Andy Driver is shown as £114k of that total!

[CropleyWasGod]

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At yesterday's meeting? Isn't this what they are all getting excited about?

Following that story, it then says that Ukio are expected to meet 'by the end of next week' - so not specifically Friday, but the Easter holiday will surely put a spanner in the works.

More shoddy reporting, I'm afraid.

The shares are being transferred to FOH, not BIDCO. The CVA arrangement is with them.

If they can't get stuff like that right, how can we believe anything else they tell us?

[CropleyWasGod]

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It's the Gretna precedent. BDO will say they can't complete the season without it, and I imagine SPFL will advance them the money on that basis.

They have to be sensitive to other clubs as well. Those other clubs will lose income if HMFC don't play their games.

[greenginger]

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At yesterday's meeting? Isn't this what they are all getting excited about?

Following that story, it then says that Ukio are expected to meet 'by the end of next week' - so not specifically Friday, but the Easter holiday will surely put a spanner in the works.

But that decision is also open to appeal and the decision was seemly " conflicted " .

[jacomo]

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More shoddy reporting, I'm afraid.

The shares are being transferred to FOH, not BIDCO. The CVA arrangement is with them.

If they can't get stuff like that right, how can we believe anything else they tell us?

Yes, you're right of course.

But in reality this is a takeover by Ann Budge (with an understanding that the club will eventually pass back into the hands of FoH). That's how I read it.

[lapsedhibee]

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But you said the shares were not frozen yesterday?

They weren't. It was more like a year ago.

[brog]

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http://www.bbc.co.uk/sport/0/football/26935230

Hearts administrators BDO are trying to establish if money due to be handed out at the end of the season can be paid to the club now.
BDO have approached the Scottish Professional Football League as they seek to raise cash to help Hearts fulfil their fixtures.
Relegation was confirmed on Saturday but Hearts will still be due a share of Scottish Premiership monies.
It is believed BDO only have enough money to keep Hearts going until April.
However, if extra funds can be found it is hoped full agreement over Anne Budge's proposed takeover can be finalised by the time the season ends.
Creditors of major shareholder UBIG have agreed to transfer their 50% holding to BIDCO, the Budge-backed vehicle for future fan control of Hearts.
But no deal has yet been reached regarding the 29% shares held by Ukio Bankas, which holds a charge on Tynecastle Stadium.
With the Premiership now splitting in two, Hearts have five fixtures remaining against their fellow bottom-six sides. The Tynecastle outfit's next match is against Ross County on 19 April.

I think this is blackmail - advance us the money & we'll complete our fixtures, don't do it & we'll leave the League looking stupid. Of course they ( Yams ) really have no clout, if they don't complete their fixtures they have to pay SPFL back £830k, more football debt for the new owners!

[HUTCHYHIBBY]

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Bryan says nothing has changed on the frozen shares. UKIO creditors expected to meet on 18^th April. Even if they accept a further 20 day cooling off period takes you to 8^th May then apply to the court to unfreeze shares. I asked him the time frame for the latter and he says how long is a piece of string!

So even though more than one person works on the Lithuanian desk your "contact" is the oft mentioned Mr Bradley after all.

Cloak and Dagger at its most mysterious!

[Spike Mandela]

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Jamie Borthwick from STV saying Vlad has been arrested in Moscow. That could be even more delays for Hearts if there is a criminal investigation about to start?

Surely it's the opposite? If he has been arrested the trial can be started wheras before it couldn't. If he has been arrested at least the following trial would bring the frozen shares issue more clearly in to focus.

[CropleyWasGod]

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Yes, you're right of course.

But in reality this is a takeover by Ann Budge (with an understanding that the club will eventually pass back into the hands of FoH). That's how I read it.

Yeah, I know I'm being pedantic...but I have a real bee up my erse about the MSM just now.

[brog]

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I've added you to my list of ITK posters.
:-)

I'm honoured!! Sergey may even buy me a drink next time we meet now I've received the supreme accolade!!

[Ozyhibby]

BDO just the same as Vlad. If they don't have enough cash to finish the season then maybe they shouldn't have signed Danny Wilson or the crap guy from West Ham.
Still speculating to accumulate.
Still putting out a team they can't afford.
Hearts will never learn.

[jacomo]

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Yeah, I know I'm being pedantic...but I have a real bee up my erse about the MSM just now.

Fair enough - someone needs to pull them up because their editors seem to have given up the ghost.

[Sanger]

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But you said the shares were not frozen yesterday?

There's always a nit picker!

[BH Hibs]

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It's the Gretna precedent. BDO will say they can't complete the season without it, and I imagine SPFL will advance them the money on that basis.

Gretna didn't have a multi millionaire willing to step in to takeover. If they need more money she should foot the bill. SPFL should tell them to bolt

[jacomo]

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BDO just the same as Vlad. If they don't have enough cash to finish the season then maybe they shouldn't have signed Danny Wilson or the crap guy from West Ham.
Still speculating to accumulate.
Still putting out a team they can't afford.
Hearts will never learn.

How about the friendly against Wolfsburg which probably ended up costing them money?

Or the funds that have gone to FoH which they can't touch, while Tynecastle has failed to sell out all season?

[Sanger]

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So even though more than one person works on the Lithuanian desk your "contact" is the oft mentioned Mr Bradley after all.

Cloak and Dagger at its most mysterious!

There are others I speak to about the economy and finacial system. But Bryan was the one tailing Ukio.

[HUTCHYHIBBY]

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I'm honoured!! Sergey may even buy me a drink next time we meet now I've received the supreme accolade!!

Would he not just be buying it for himself? ;-)

[brog]

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Surely it's the opposite? If he has been arrested the trial can be started wheras before it couldn't. If he has been arrested at least the following trial would bring the frozen shares issue more clearly in to focus.

You would be looking at years before any trial can start, Yams don't have weeks!