Share Transfers Agreed/Cooling off period

[down-the-slope]

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It doesn't annoy me, infact I prefer that to individually replying to half a dozen posts. Isn't that the purpose of the multiquote feature?

for those who have a life outside of here - sometimes you are playing catch up and have replies / contributions to several posts....

Why is it annoying / an issue ?

[SuperAllyMcleod]

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It's a catch 22. Should the SPFL, one of Scottish Footballs governing bodies, issue an advance payment of monies that hertz would not be due should they fail to complete the season by entering liquidation? Or should they withhold that money and cause hertz to enter liquidation at which point they fail to be entitled to said money?

Anybody.... Help..... my head hurts.

I'm sure that I read somewhere today that ALL of the SPFL teams have received £690K this season so far. Therefore, there is no way that the SPFL have retained the football debt.

Like others have said, this debt will be paid by whoever picks up the Yams when they come out of admin.

[gorgie greens]

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The original Bloomberg article had a direct quote, which is often missing in our own media.

“Any sale or transfer” of UBIG’s shares in Hearts or its other property “is forbidden,” Gintare Putnikiene, a spokeswoman for the court in Kaunas said by phone today.

So how does this affect the CVA ,if they are unable to get the shares is that not the end of the road for them

[Elephant Stone]

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Is it really necessary to multi quote so many different posts? You do this on a regular basis and to be honest with you it's quite annoying.

Finally.

[CB_NO3]

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The original Bloomberg article had a direct quote, which is often missing in our own media.

“Any sale or transfer” of UBIG’s shares in Hearts or its other property “is forbidden,” Gintare Putnikiene, a spokeswoman for the court in Kaunas said by phone today.

So what would the process be if the Ukio administrator accepts the CVA? Would it then be up to BDO to apply to the Lithuanian courts to 'unfreeze' the shares?

[greenginger]

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So what would the process be if the Ukio administrator accepts the CVA? Would it then be up to BDO to apply to the Lithuanian courts to 'unfreeze' the shares?

I think it would be up to the UBIG administrator to petition the Court saying that the UBIG creditors have accepted a sum for these shares , please release them and let us conclude the deal.

How easy that would be is anybody's guess.

Of course they would only want the shares if Ukio approve their bit of the deal.

[CropleyWasGod]

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So what would the process be if the Ukio administrator accepts the CVA? Would it then be up to BDO to apply to the Lithuanian courts to 'unfreeze' the shares?

As GG says.

But remember that it's not the administrator's call. It's up to the creditors.

[GreenLake]

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So what would the process be if the Ukio administrator accepts the CVA? Would it then be up to BDO to apply to the Lithuanian courts to 'unfreeze' the shares?

I think even the Yams have talked about the share transfer needing to be "ratified" by the courts. Quite how they see that as any different from "unfrozen" I am not sure. Definitions seem to have a lot of leeway among different people and I myself used to think "ratification" was a term referring to the filling of Tynecastle on match days.

[CropleyWasGod]

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So how does this affect the CVA ,if they are unable to get the shares is that not the end of the road for them

Yes.

BJ has always said that the hardest part of his job will be to get the UBIG shares. Nobody in HM Press has asked him "why, Bryan? Why is that?"

[Springbank]

I've just emailedto

Gintare Putnikiene

to ask if the shares are still frozen (in the court's view) and to show them the news of Pat Munro's £15m bid.
Interesting that the Evening News have withdrawn the hyperlink about that story.
However, I had a paper copy so a wee pic was all it took to let Lithuania know about Pat's millions, compared to the ramshackle amateur FoH 2.5m

No brainer

[jacomo]

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for those who have a life outside of here - sometimes you are playing catch up and have replies / contributions to several posts....

Why is it annoying / an issue ?

Indeed. Sometimes you are playing catch up. But every single time? That's too much.

Bit like Sydney with his f***** letters... We were all happy to laugh along with the simpleton for a while, but it becomes boring.

[greenginger]

Amazing what former Yam directors get up to.


http://translate.googleusercontent.c...yrr6LRxSnSVM4Q

Fedatovas has been working for the Lith. government.

[jacomo]

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Yes.

BJ has always said that the hardest part of his job will be to get the UBIG shares. Nobody in HM Press has asked him "why, Bryan? Why is that?"

It just hasn't come up?

[kdhibees1]

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for those who have a life outside of here - sometimes you are playing catch up and have replies / contributions to several posts....

Why is it annoying / an issue ?

Something to moan about, other than at the team??

[CropleyWasGod]

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It just hasn't come up?

[EastCalderHibby]

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The yams' tactic for negotiating with the SPFL over advanced payment.

www.youtube.com/watch?v=Z_JOGmXpe5I

that was quallity

[EastCalderHibby]

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Yet they didn't get rid of billy brown and assume still there picking up a wage .They keep wanting everyone else to bail them out .They could of sold more young players but didn't they know that the league will want them to complete fixtures and therefore help out it's emotional blackmail but this lot will stop at nothing .

they even tried to sign Skacel.jpg few weeks ago

[CropleyWasGod]

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I think even the Yams have talked about the share transfer needing to be "ratified" by the courts. Quite how they see that as any different from "unfrozen" I am not sure. Definitions seem to have a lot of leeway among different people and I myself used to think "ratification" was a term referring to the filling of Tynecastle on match days.

[EastCalderHibby]

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He seems to have an ever increasing list of health complaints A stroke last year and now hospitalised with serious heart problems. Would appear that his time is coming, one way or another....

it is true thou he does have a major hearts problem

[poolman]

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Yam fantasy nonsense IMO

Quite


Spot on.

It will be subject to tax and V.A.T. if it is deemed regular.

The are but donations increase income and therefore profits

That could be the case it shares were either issued/transferred from Bidco in exchange or the "donations".

F??k All

Last throw of the dice !

Just stop

[Ronniekirk]

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they even tried to sign Skacel.jpg few weeks ago

[Dashing Bob S]

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Yes.

BJ has always said that the hardest part of his job will be to get the UBIG shares. Nobody in HM Press has asked him "why, Bryan? Why is that?"

I don't believe its the incompetence of the mainstream media, though that has some effect, or even the low staffing levels. Print and television news media increasingly rely on sensation, which means infantilising people and drip-feeding them nonsense rather than any hard analysis of the situation. Sadly no newspaper will say: 'Hearts are liquidated, UKIOS will be stalled until the run out of cash, as the creditors know they will get more back from an asset sale, and even if this wasn't the case they could never obtain the UBIG shares from Kanuas court' as the story would be effectively over for them. They know the sentimentality of football fans, so far easier to manufacture this utter nonsense about a plucky Scottish club battling for survival against all odds.

Jackson and BDO are obliged to go through the process as professionally as they can, but I'm betting if you had a quiet drink with him a few years from now he'd tell you that to be successful they would have needed a massive game-changer, like the court action being suddenly dropped, or the main creditors not investigating the potential value of the PSB as an asset, or the Lithuanian admins putting the importance of Hearts above all other parts of the Romanov empire. Nothing like that has happened so far. BDO have dutifully stayed in the game (and they are being well paid to do so) but they've never had a winning hand.

[Sergey]

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I don't believe its the incompetence of the mainstream media, though that has some effect, or even the low staffing levels. Print and television news media increasingly rely on sensation, which means infantilising people and drip-feeding them nonsense rather than any hard analysis of the situation. Sadly no newspaper will say: 'Hearts are liquidated, UKIOS will be stalled until the run out of cash, as the creditors know they will get more back from an asset sale, and even if this wasn't the case they could never obtain the UBIG shares from Kanuas court' as the story would be effectively over for them. They know the sentimentality of football fans, so far easier to manufacture this utter nonsense about a plucky Scottish club battling for survival against all odds.

Jackson and BDO are obliged to go through the process as professionally as they can, but I'm betting if you had a quiet drink with him a few years from now he'd tell you that to be successful they would have needed a massive game-changer, like the court action being suddenly dropped, or the main creditors not investigating the potential value of the PSB as an asset, or the Lithuanian admins putting the importance of Hearts above all other parts of the Romanov empire. Nothing like that has happened so far. BDO have dutifully stayed in the game (and they are being well paid to do so) but they've never had a winning hand.

Time for a large gin for your Jambo neighbour to cheer himself up, Bob.

The above is 100% spot-on.

BTW - No creditors meeting agreed for the Ukio folks. The date previously quoted (by Desantosh) isn't correct.

[CropleyWasGod]

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I don't believe its the incompetence of the mainstream media, though that has some effect, or even the low staffing levels. Print and television news media increasingly rely on sensation, which means infantilising people and drip-feeding them nonsense rather than any hard analysis of the situation. Sadly no newspaper will say: 'Hearts are liquidated, UKIOS will be stalled until the run out of cash, as the creditors know they will get more back from an asset sale, and even if this wasn't the case they could never obtain the UBIG shares from Kanuas court' as the story would be effectively over for them. They know the sentimentality of football fans, so far easier to manufacture this utter nonsense about a plucky Scottish club battling for survival against all odds.

Jackson and BDO are obliged to go through the process as professionally as they can, but I'm betting if you had a quiet drink with him a few years from now he'd tell you that to be successful they would have needed a massive game-changer, like the court action being suddenly dropped, or the main creditors not investigating the potential value of the PSB as an asset, or the Lithuanian admins putting the importance of Hearts above all other parts of the Romanov empire. Nothing like that has happened so far. BDO have dutifully stayed in the game (and they are being well paid to do so) but they've never had a winning hand.

I wish I could agree with you about the media. It's affecting my previously-held trust in the media in general.

I do agree with you on the job BDO have done thus far. I know that there are misgivings on here about their integrity, but I keep thinking about BJ and TB saying how bad things were when they first took the job on. I honestly didn't think they would get this far (my earliest posts expected this to be a short admin followed by liquidation). That they have says a lot about their own actions, but also the (arguably) poor performance of their counterparts. That quiet drink would be very illuminating, I'm sure.

[Ronniekirk]

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Time for a large gin for your Jambo neighbour to cheer himself up, Bob.

The above is 100% spot-on.

BTW - No creditors meeting agreed for the Ukio folks. The date previously quoted (by Desantosh) isn't correct.

In Sergey We Trust

[Cabbage East]

Tip for those pished off with the pointless multiquotes followed by "I agree", "yes", etc. Add the guy to your ignore list.

[hibeerealist]

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Time for a large gin for your Jambo neighbour to cheer himself up, Bob.

The above is 100% spot-on.

BTW - No creditors meeting agreed for the Ukio folks. The date previously quoted (by Desantosh) isn't correct.

Nice words at this time f night Sergey, I can now sleep with a pleasing calm in the knowledge that there is virtually no chance the can wriggle out o this.

[Sergey]

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In Sergey We Trust

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Nice words at this time f night Sergey, I can now sleep with a pleasing calm in the knowledge that there is virtually no chance the can wriggle out o this.

I am scratching around for information - but no information is good information.

As far as I know - there is no meeting planned on the 22nd April.

I have no knowledge where that date emanated from. It's not from Lithuania.

[clerriehibs]

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I wish I could agree with you about the media. It's affecting my previously-held trust in the media in general.

I do agree with you on the job BDO have done thus far. I know that there are misgivings on here about their integrity, but I keep thinking about BJ and TB saying how bad things were when they first took the job on. I honestly didn't think they would get this far (my earliest posts expected this to be a short admin followed by liquidation). That they have says a lot about their own actions, but also the (arguably) poor performance of their counterparts. That quiet drink would be very illuminating, I'm sure.

Their counterparts being the administrators of UBIG and UKIO - or someone else?

[Ronniekirk]

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I am scratching around for information - but no information is good information.

As far as I know - there is no meeting planned on the 22nd April.

I have no knowledge where that date emanated from. It's not from Lithuania.

And the budge beak must be back on her perch in her cage as not a peep for ages since she threatened to walk away if deal wasn't done .We all knew she wouldn't but trying to put Liths under pressure like that could be a red rag to a bull .having showed her hand and had her bluff called what realistically is her next move and why isn't she now e mailing that magnificent loyal mutant support to update them and tell them all is well,just bear with me till we work out best timing to tell you it's the Big L and Sergey was right all along .