Share Transfers Agreed/Cooling off period

[CropleyWasGod]

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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

And who should foot the bill for those clubs that would lose income by not having home games against Hearts?

I think the clubs, who are the SPFL after all, will be happy to advance the money.

[s.a.m]

Brian Marjoribanks ‏@DMMarjoribanks · 38m
Vladimir Romanov faces charges of "misappropriation and embezzlement". Lithuanian law provides for imprisonment up to 7 years. 1/2

Brian Marjoribanks ‏@DMMarjoribanks · 35m
But a spokesman for Mr Romanov's fallen business empire in Lithuania says: "It might be that the list of his doings is not finished yet."

[Spike Mandela]

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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!

With the current bravehearts love in I am 100% certain they will get it. Always was the fallback plan imo and the Gretna precedent will make it a foregone conclusion. Wouldn't surprise me if calls were made by Doncaster to BDO saying"just give us a ring if it gets tight mate". Puts a slight dent in the FoH budget for next season though.

[jgl07]

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And who should foot the bill for those clubs that would lose income by not having home games against Hearts?

I think the clubs, who are the SPFL after all, will be happy to advance the money.

I doubt very much that they will be 'happy' to hand over cash to the crooks. I would see it more as reluctantly they will hand over some money to avoid a worse fate of having an uncompleted season.

[Hermit Crab]

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Brian Marjoribanks ‏@DMMarjoribanks · 38m
Vladimir Romanov faces charges of "misappropriation and embezzlement". Lithuanian law provides for imprisonment up to 7 years. 1/2

Brian Marjoribanks ‏@DMMarjoribanks · 35m
But a spokesman for Mr Romanov's fallen business empire in Lithuania says: "It might be that the list of his doings is not finished yet."

Could this cause problem for the gorge tramps in getting a deal done?

[CB_NO3]

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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.

The Lithuanian government wont release any 'frozen' shares surely until the trial is done and dusted. As someone else says, that could potentially take years. They would have to investigate backlogs of dodgy transactions, money laundering involving 3 or 4 different countries, different types of organisations from football clubs, basketball clubs, to banks in the UK, banks in the baltic states, metal plants in Bosnia and so on.

I see what you mean though, if he was never found then the 'frozen' shares might have never ever got released.

[Moulin Yarns]

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I doubt very much that they will be 'happy' to hand over cash to the crooks. I would see it more as reluctantly they will hand over some money to avoid a worse fate of having an uncompleted season.

Let them limp over the line, then they get the parachute payment for relegation.

[CropleyWasGod]

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I doubt very much that they will be 'happy' to hand over cash to the crooks. I would see it more as reluctantly they will hand over some money to avoid a worse fate of having an uncompleted season.

Ok, maybe "happy" isn't the right word. "Well-advised" would be better.

[Dashing Bob S]

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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.

If he is being charged and a date set for a trial, they will have a complete case against him. If any of the evidence (ie: the assets, meaning the shares) were tampered with, his lawyers will be all over it. Also, they will appeal at every juncture. This case could run for months and months.

It could also bring worse news for Hearts. The money they were using to underwrite their crazy spending will inevitably be shown to be dirty. This would put the football authorities in this country in a terrible position. If they won points, prizes and prize money through cash earned through drugs/ human trafficking/ financial corruption, where does that leave sporting integrity? There is also the position of officers of the club during Vlad's tenure. They too, might be liable to prosecution.

On a completely different matter, I'm convinced that the local national and national politicians who were keen to assist and facilitate Vlad's ownership of Hearts are above reproach and took no remuneration for their consultancy roles. They will be as glad as anybody to see him in the dock, testifying to his full involvement with Hearts.

[Mikey]

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With the current bravehearts love in I am 100% certain they will get it. Always was the fallback plan imo and the Gretna precedent will make it a foregone conclusion. Wouldn't surprise me if calls were made by Doncaster to BDO saying"just give us a ring if it gets tight mate". Puts a slight dent in the FoH budget for next season though.

I've been saying for some time that they'll see out the season, even if it takes an advance of their "prize money". Mid May is when they'll liquidate if things haven't improved.

[jdships]

OK lets say they get paid " up front" . It just means that that money won't be there come the start of next season - cash flow problems
again ?
Remember the old cliche " You can only sell the family silver once " !!
Remember too - Mrs B hasn't signed anything yet it's still all " perhaps/maybe "

[jacomo]

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OK lets say they get paid " up front" . It just means that that money won't be there come the start of next season - cash flow problems
again ?
Remember the old cliche " You can only sell the family silver once " !!
Remember too - Mrs B hasn't signed anything yet it's still all " perhaps/maybe "

Everything has consequences. Surviving this season just starts a whole new round of problems for the maroon ones.

[Sergey]

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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.

I asked my contact to translate the article and the third paragraph reads:

Irena Janulionienė states: "there were dissenters among the creditors and the decision might be challenged in court...."

[Hibernia&Alba]

Why are they still in hiding on Hunchback? Are they afraid of Hibby trolls, or are the shameless yins actually feeling embarrassed?

[Hermit Crab]

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I asked my contact to translate the article and the third paragraph reads:

Irena Janulionienė states: "there were dissenters among the creditors and the decision might be challenged in court...."

Excellent news.

[jacomo]

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It could also bring worse news for Hearts. The money they were using to underwrite their crazy spending will inevitably be shown to be dirty. This would put the football authorities in this country in a terrible position. If they won points, prizes and prize money through cash earned through drugs/ human trafficking/ financial corruption, where does that leave sporting integrity? There is also the position of officers of the club during Vlad's tenure. They too, might be liable to prosecution.

I have thought for a while that there is worse news to come for Hearts. They have been massively overplaying their hand by trying to claim they were victims in all of this, because if evidence comes to light of HMFC laundering money for the Romanov empire, the backlash will be even fiercer.

Even the Huns will be able to claim moral superiority over them - imagine that!

[jacomo]

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Statement from Ian (I'm an MP) Murray

Apologies for not posting this earlier but there has been difficulties getting on to Kickback this afternoon. Just shows you how important a service it provides. We are obviously disappointed that both creditors meetings for UKIO and UBIG did not take place. However, the positive news about the UBIG creditors meeting agreeing the transfer of their 50% shareholding in Hearts is a significant step forward. This should not be underestimated. We understand that lengthy discussions have taken place between Hearts Administrators, BDO, and the lawyers administrating Ukio Bankas. The outcome of these discussions were positive and it is hoped that a Ukio creditors meeting will take place before the end of next week (Easter). It has transpired that there was not to be a formal Ukio creditors meeting today so nothing has been delayed or postponed. The date will be set shortly. We are working on the information as we receive it.

We have taken a huge step towards delivering the Creditors Voluntary Agreement (CVA) today and, to use a football analogy, we would have taken this result before the game. However, we do appreciate how frustrating this is for the supporters and for everyone connected to the Club. We would have wanted a final conclusion. One major hurdle has been cleared with one to go.

We will continue to work closely with BDO and BIDCO to get this deal over the line as quickly as possible and thank all the supporters for their continued patience at this time.

Tonight Hearts is much closer to being out of administration than it was yesterday. It is a considerable achievement to have got this far. We thank BDO and the teams at UKIO Bankas and UBIG for their sterling efforts and look forward to a positive outcome as soon as possible. I, and FoH, will provide as much information as we can in the coming days.

In my more charitable moments, I dismiss JKB as representing the lunatic fringe and living-with-mammy keyboard warriors only, and not representative of the wider Yambo nation.

Seems this is not the case...

[Dashing Bob S]

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I've been saying for some time that they'll see out the season, even if it takes an advance of their "prize money". Mid May is when they'll liquidate if things haven't improved.

It's a logical step in some ways, but if they pull the plug then it gives them very little time to get the Newco up and running for next season, especially if they lose the PBS. They can't afford a season in limbo.

It's more than possible that there might be some deal to smooth a Newco passage into the lower leagues throughout this process though!

[Dashing Bob S]

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I have thought for a while that there is worse news to come for Hearts. They have been massively overplaying their hand by trying to claim they were victims in all of this, because if evidence comes to light of HMFC laundering money for the Romanov empire, the backlash will be even fiercer.

Even the Huns will be able to claim moral superiority over them - imagine that!

Yes, this is where I've been at. As far as they've fallen already, they haven't potentially hit the bottom yet.

[TRC]

Anyone else get the feelung that this is all just a stalling tactic, theg are really just getting the house in order for liquidation asking the spfl for assurances that the will go to l2?

[Waxy]

They could be stripped of all honours won during his time.

[Dashing Bob S]

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Anyone else get the feelung that this is all just a stalling tactic, theg are really just getting the house in order for liquidation asking the spfl for assurances that the will go to l2?

Yes.

[CropleyWasGod]

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They could be stripped of all honours won during his time.

Not a chance, I'm afraid. The precedent was set by the Rangers case.

[dangermouse]

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MacKay says that their dignity is intact? Maybe to a guy who will do anything to be heard, like GM. But the last time I looked, going bankrupt, losing your stadium and name, not to mention cheating people out of money, isn't what I'd call dignity.

Is Sergey not sailing her up the West coast?

[Mikey]

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Is Sergey not sailing her up the West coast?

It's no coincidence that Sergey was sailing yesterday and Vlad was caught the same day. He may be able to steer a submarine round the Baltic but he can't dodge Sergey's sonar in the Channel.

[CB_NO3]

Now Vlad has been released according to Jamie Borthwick on twitter. 5 minutes after the evening news publish it on their website lol.

[SmashinGlass]

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It's no coincidence that Sergey was sailing yesterday and Vlad was caught the same day. He may be able to steer a submarine round the Baltic but he can't dodge Sergey's sonar in the Channel.

[Hermit Crab]

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Now Vlad has been released according to Jamie Borthwick on twitter. 5 minutes after the evening news publish it on their website lol.

Brown envelopes changing hands again?

[greenginger]

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Brown envelopes changing hands again?

Or Lord Foukesass has spoken up for him and given him a character reference and checked his business background.

[CyberSauzee]

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I asked my contact to translate the article and the third paragraph reads:

Irena Janulionienė states: "there were dissenters among the creditors and the decision might be challenged in court...."

The jungle drums are ringing loud and clear from where I am. Kupendeza