Share Transfers Agreed/Cooling off period

[jacomo]

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

'I've had dealings with him. He's done everything he'd said he'd do. What makes you think he'd skip bail?'

[greenpaper55]

Jackson speaks http://www.edinburghnews.scotsman.co...deal-1-3368801

[hibeesdude]

wheres baj for an update/opinion - not seen him comment in a few days?

[Bleeds green]

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Jackson speaks http://www.edinburghnews.scotsman.co...deal-1-3368801

Not once in that article is there a statement from Jackson???

'Jackson speaks'??!!

[Deansy]

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Where to BDO expect the cash to come from ?

The Tynecastle Kitty is empty, I don't think Budge will put money in until the ink is 100% dry on everything, that only leaves the Lith admin.to hand over some of cash gathered in Lithuania.

Not very likely.

Bear in mind the subject-matter - realistically, they've been skint for the last 30+ years but have still managed to continue on a level way way above their historical standard. They'll find money somewhere because when it comes to the 'Brown-envelope' payment system, they're the 'Go to' guys !!

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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.

After the 'Liquidation-threat', THAT comes next in their collective pant-fillers !!. It's highly unlikely Vlad chose 'The Muppets' as the ONLY one of his businesses to run honestly. The question is though, how will the SFA deal with it - as justice sees fit or 'The rangers way' ??

[Hermit Crab]

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Jackson speaks http://www.edinburghnews.scotsman.co...deal-1-3368801

That just wind and pish from our friend Barry

[jacomo]

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Jackson speaks http://www.edinburghnews.scotsman.co...deal-1-3368801

If BDO pay me £100k I promise I'll say nice things about the Jambos and even email the SPFL, SFA and the Lithuanian administrators on their behalf. It's only a token payment, after all.

[Keith_M]

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Jackson speaks http://www.edinburghnews.scotsman.co...deal-1-3368801

I believe he does, but apparently not in that article.


Read the second comment, somebody has really ripped Banderson

[Waxy]

Doubt anyone will put a penny into them whilst the threat of liquidation looms large. This is cash that would be lost. As not a penny has gone in to help the situation it all points to a newco being formed.

[jacomo]

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I believe he does, but apparently not in that article.


Read the second comment, somebody has really ripped Banderson

Yes, although the quote is attributed to I am an MP, is it not?

[Weststandwanab]

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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.

As close a I am to being the Pope.

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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?

Perfect timing.

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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!

No chance it will be 18h April 214.

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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?

Precisely.

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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!

New Owner singular maybe/maybe not.

[Shore Thing]

All this talk of money laundering, misappropriation and embezzlement reminds me of a certain car wash...

[greenginger]

http://www.yelp.co.uk/biz/gorgie-launderette-edinburgh

Gorgie Launderette still in business .

[Kato]

A couple of weeks ago the UKIO shares were "in the bag" (with some provisions) and the UBIG shares were the problem.

Now the UBIG shares are "in the bag" (with some provisions) and the UKIO shares are the problem.

They are getting the runaround, Mike Reid stylee.

They only have left in exitence imho, no way are the shares going to released to them and if they are the timescales, cancelled meetings, court sanctions (and back to the start again) will see them run of gas (i.e. money).

Then all that's left over the next couple of years is for Vlad's trial to reveal their sticky fingered habits and they will be stripped of his whole legacy, leaving only those memories of employing sex-offenders, ripping off charities, stealing tax payers money etc etc.

Weird wee club.

[joe breezy]

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That just wind and pish from our friend Barry

That article is the most resigned to Hearts are bust as I've ever seen. If the Lithuanians are seriously saying could we get a better deal of course the answer is yes.

Put the land up for sale and they'll get £10 million plus.

The game's up the pole.

[Just Alf]

Deleted.... Wrong thread and I'm too tired (too much travelling) sorry :-/

[Hermit Crab]

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That article is the most resigned to Hearts are bust as I've ever seen. If the Lithuanians are seriously saying could we get a better deal of course the answer is yes.

Put the land up for sale and they'll get £10 million plus.

The game's up the pole.

I'm not sure I think they will get through this.

[PapillonVert]

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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.

Don't know anything about Russian and Lithuanian criminal law, but I would imagine there could be the small matter of a formal extradition procedure to go through before Vlad sets physical foot on Lithuanian soil again.

Also, from what I've read, the Russian judiciary is in the pay and under the control of the local Mafia and crime lords (not independent in other words) and so could be Vlad is never extradited at all.

All complete conjecture on my part. No sources in Russia, Lithuania or anywhere else.

[Jim44]

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You mean the SPFL, not the Liths

Sorry about that, I wrote that in a hurry this morning as a I was running out the door.

[PapillonVert]

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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.

Although surely another sign that the "self-sufficient ones" are still not living within their means!

[s.a.m]

Scotsman ‏@TheScotsman 14m #football Andrew Smith is hosting a live webchat on the future of #Hearts. Get involved here: http://bit.ly/1mYqsV3

[Moulin Yarns]

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Scotsman ‏@TheScotsman 14m #football Andrew Smith is hosting a live webchat on the future of #Hearts. Get involved here:

http://bit.ly/1mYqsV3

The usual quality of "journalism" apparently Bob Jamieson bid £15milion, not Munro

[CropleyWasGod]

Has any comment been made on the suggestion that the UBIG shares in Hearts are still frozen by the Lithuanian Courts, and that there may therefore be a difficulty in transferring them?


I have heard that but no-one I have spoken to involved in the process has intimated that is actually the case.



But have they denied it? My point being... no-one seems to have asked the question.


When you ask them what has to be gone through, they never mention this share freeze.



Perhaps the question should be asked explicitly. It is important.

I will ask then.

We shall see

[Moulin Yarns]

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Has any comment been made on the suggestion that the UBIG shares in Hearts are still frozen by the Lithuanian Courts, and that there may therefore be a difficulty in transferring them?


I have heard that but no-one I have spoken to involved in the process has intimated that is actually the case.



But have they denied it? My point being... no-one seems to have asked the question.


When you ask them what has to be gone through, they never mention this share freeze.



Perhaps the question should be asked explicitly. It is important.

I will ask then.

We shall see

Well, now we will see what they say about frozen shares.

[Joy Zipper]

"Now there could be a difficulty. According to my source, a newco Hearts in the fourth tier - which is where it would have to play, with the precendent set, as you say - could not afford to play at Tynecastle. I wouldn't be surprised if a rent deal was struck with Livingston in that scenario."

Nice.

[Newry Hibs]

[QUOTE=PapillonVert;3963740][QUOTE=Dashing Bob S;3963464]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.

Don't know anything about Russian and Lithuanian criminal law, but I would imagine there could be the small matter of a formal extradition procedure to go through before Vlad sets physical foot on Lithuanian soil again.

Also, from what I've read, the Russian judiciary is in the pay and under the control of the local Mafia and crime lords (not independent in other words) and so could be Vlad is never extradited at all.

All complete conjecture on my part. No sources in Russia, Lithuania or anywhere else.

You are Banderson and I claim my £5.

[AltheHibby]

PV, I dont think Agent Vlad can be extradited as I am sure the Russians wont extradite their citizens.

[mim]

Would a newco be able to buy Tynecastle in the first place?

[CropleyWasGod]

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Well, now we will see what they say about frozen shares.

The extent to which they pussyfoot around the question is breathtaking.

Just ask the f'ing question and let's move on.

[CropleyWasGod]

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Would a newco be able to buy Tynecastle in the first place?

If they had the cash, and the best offer.