Share Transfers Agreed/Cooling off period

[jakeshibs]

I am now completely confused, what are we waiting on for them to get the big L?
I want them to turn the machine off so I can get on and celebrate. if the shares are frozen surely BDO know this and will not fit with their time lines so pull the plug and get on with it.....

[Craig_in_Prague]

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I am now completely confused, what are we waiting on for them to get the big L?
I want them to turn the machine off so I can get on and celebrate. if the shares are frozen surely BDO know this and will not fit with their time lines so pull the plug and get on with it.....

For UKIO to vote no on the CVA - NO meeting scheduled
Courts not ratifying the release of shares - May not come to that stage.
Cash to run out - See 1st sentence

Patience. Good things come to those who wait.

[jakeshibs]

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For UKIO to vote no on the CVA - NO meeting scheduled
Courts not ratifying the release of shares - May not come to that stage.
Cash to run out - See 1st sentence

Patience. Good things come to those who wait.

Thank you very much, in your opinion what time scale are we looking at?

[jacomo]

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have they ethanol containers not been decommissioned

Would love to know the story BDO have tried to weave for the Lithuanians...

'Sorry guys, the situation re: Tynecastle looks bleak. If you sell it for redevelopment there will be riots and anyhow the whole site's liable to explode any minute. Basically it's worth nothing. But - you won't believe this - I've found someone who will pay £2.5m (less my deductions obviously). I'd take it and run if I were you."

[Craig_in_Prague]

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Thank you very much, in your opinion what time scale are we looking at?

My personal opinion is worth little - but due to the cash running out at the PBS, I would imagine by end of April / early May, we'll be finally at the end of this movie.
If UKIO creditors do happen to meet post Easter (22nd according to some), then say no to the 2.5M offer, then immediately it's the big L.
If there's no meeting and no real sign of that happening soon, then one would imagine the cash will indeed run out and BDO will close the curtains.
FOH have taken UBIG shares as a 100% done deal, there might be a spanner in the works still on that one to come.

If we want to run a book on this, I'll take 19.05 - big L

;-)

[Brunswickbill]

Hibs net has provided a lot of good info on the administration processes so far, which as time goes by, has been shown to be correct. Can any of our experts shed some light on the liquidation process as it appears to be becoming more certain as time progresses - death by a thousand delays. Some questions that spring to my mind:-


1. The last game of the Yams' season is 10 May and let's assume that the 2014/15 season starts on 9 August. That's 13 weeks by my reckoning. It's already been pointed out on this thread that the Sevco liquidation was built into the CVA which expedited that liquidation process. Any liquidation of the Yams will be more complex. Can any experts outline what the process would be and what would be a likely time scale. In particular could it be completed, including agreeing to re-enter league2, within 13 weeks?


2. What would be the situation with the PBS? How long would it take to secure a sale? Would the liquidator be able to let the Yams play on in the stadium or would it be locked pending a sale?


3. What are the likely implications for SPFL for organising the leagues?


I presume that these questions will have been fully discussed at PBS and SPFL and one would have expected that our respected friends in the media and our western neighbours would have asked these and even more searching questions of the powers that be.


Any knowledgeable response would be appreciated.

[The Falcon]

Another Bawsack Classic Comment

Posted by Hagar the Horrible (3,444 posts)

"This is where there need to be somebody at the SFA and indeed the SPFL, for a start because we want to go into Fans ownership, them evry help should be given to those clubs to follow suit,nothing has been done to assist the fans. and more so when it comes to foreign owners that majority share holdings should not be held by companies not registered in the UK. this will protect this sort of thing and delays putting the club at further risk, also its should stop foreign sugar daddies giving unfair advantage by financially doping a club where success is bought rather than gained."

You really have to wonder.

Update..He gets a little criticism but mainly for the "foreign" part and retorts

"You are all missing the point I am clumsily trying to make , if Vlad has set up a company in the UK, we would find it easier to get out of the mess with admins in two countries with 2 sets of working ethics. I am also thankful to Vlad but do we or the game in this country need another one???? What I am saying is, there should be a ban on the companies that own clubs should not be registered abroad."

There you have the average Yam in a nutshell. Nothing whatsoever with overspending or thievery. A legal technicality.

[Bostonhibby]

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Another Bawsack Classic Comment

Posted by Hagar the Horrible (3,444 posts)

"This is where there need to be somebody at the SFA and indeed the SPFL, for a start because we want to go into Fans ownership, them evry help should be given to those clubs to follow suit,nothing has been done to assist the fans. and more so when it comes to foreign owners that majority share holdings should not be held by companies not registered in the UK. this will protect this sort of thing and delays putting the club at further risk, also its should stop foreign sugar daddies giving unfair advantage by financially doping a club where success is bought rather than gained."

You really have to wonder.

Come on own up, has to be wun ov us wot dun it? Well done on lasting so long undercover over there

[leggeto]

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Would love to know the story BDO have tried to weave for the Lithuanians...

'Sorry guys, the situation re: Tynecastle looks bleak. If you sell it for redevelopment there will be riots and anyhow the whole site's liable to explode any minute. Basically it's worth nothing. But - you won't believe this - I've found someone who will pay £2.5m (less my deductions obviously). I'd take it and run if I were you."

I wonder if they only found out about the tanks causing a risk when the built the stands and started putting the away fans in it to protect their own,*****

[down-the-slope]

http://www.gva.co.uk/research/Econom...eview-Q1-2014/

Nice to see that every indicator in the economy & property sector is on an upward trend in terms of demand and prices....

Hope that the Creditors in Lithuanian know that its a great time to own land / property in the Capital with such an improving picture

[Glesgahibby]

Time is ticking and SPFL,SFA,BDO,FOH and mrs Budge all have to be,by now examining worst case scenarios.its clear they cannot rumble on through the close season without financial donations.
It really is last chance saloon as far as the cva being rubber stamped.
The question of how easy it is to defrost the shares has never properly been approached by any of the above mentioned organisations.
The fact no UKIO creditors meeting has ever been confirmed past or present(remember the 30 day notice quotes?)
The complete black out of media/spin/begging bowl from BDO is unusual but speaks volumes.
There is now 30 days left til there last game of the season,I think all they can do now is make sure they get that far and then pull the plug.
What would happen next is up for debate

[Sergey]

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Time is ticking and SPFL,SFA,BDO,FOH and mrs Budge all have to be,by now examining worst case scenarios.its clear they cannot rumble on through the close season without financial donations.
It really is last chance saloon as far as the cva being rubber stamped.
The question of how easy it is to defrost the shares has never properly been approached by any of the above mentioned organisations.
The fact no UKIO creditors meeting has ever been confirmed past or present(remember the 30 day notice quotes?)
The complete black out of media/spin/begging bowl from BDO is unusual but speaks volumes.
There is now 30 days left til there last game of the season,I think all they can do now is make sure they get that far and then pull the plug.
What would happen next is up for debate

They're going to require circa £400k to simply get to the seasons end with little or no income.

That's their most pressing concern.

[Glesgahibby]

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They're going to require circa £400k to simply get to the seasons end with little or no income.

That's their most pressing concern.

Yip,
question is,how do BDO rally the troops for one more push without giving the game away?
Its very apparent now the odds are heavily stacked in favoure of liquidation,surely even the most gullible yam must see that now.

[brog]

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I think Ewing Grahame is a freelancer, his articles turn up in various papers. He was unusually good during the Hun saga. There's a small echo of that in this article:

"Should Hearts be forced into liquidation then they could emulate Rangers – who suffered the same fate in 2012 – by forming a new club, playing out of Tynecastle and beginning life in the bottom tier, but BDO remains optimistic that a deal can be done to maintain their unbroken lineage."

Not many hacks will admit that the old Huns' lineage broke.

That would be their unbroken lineage since 1905 then??

[cad]

I thought they were into the SPFL for an early handout for money they are due

[jacomo]

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http://www.gva.co.uk/research/Econom...eview-Q1-2014/

Nice to see that every indicator in the economy & property sector is on an upward trend in terms of demand and prices....

Hope that the Creditors in Lithuanian know that its a great time to own land / property in the Capital with such an improving picture

'We would have got away with it if it wasn't for that pesky property-led economic recovery!'

[Phil D. Rolls]

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Time is ticking and SPFL,SFA,BDO,FOH and mrs Budge all have to be,by now examining worst case scenarios.its clear they cannot rumble on through the close season without financial donations.
It really is last chance saloon as far as the cva being rubber stamped.
The question of how easy it is to defrost the shares has never properly been approached by any of the above mentioned organisations.
The fact no UKIO creditors meeting has ever been confirmed past or present(remember the 30 day notice quotes?)
The complete black out of media/spin/begging bowl from BDO is unusual but speaks volumes.
There is now 30 days left til there last game of the season,I think all they can do now is make sure they get that far and then pull the plug.
What would happen next is up for debate

Worst case scenario for Mrs Budge is that the deal goes through and she spends years trying to deal with the expectations of those knuckle draggers. They've been pampered for so long they'll take it ill out if antibody tells them they can't have what they want.

[Glesgahibby]

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I thought they were into the SPFL for an early handout for money they are due

100 grand,think they need a tad more than that

[Jack]

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I've got general rule of thumb with any main stream media. Unless it's a quote from a named individual i always regard it as bollocks

Thats a dodgy rule to have!

In my time I've written a few press releases which included direct quotes I'd made up. It would then be seen by the media folk. Only sometimes after that would the person who [never] made the quote agree that's what they said before it was released!

[lord bunberry]

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Yip,
question is,how do BDO rally the troops for one more push without giving the game away?
Its very apparent now the odds are heavily stacked in favoure of liquidation,surely even the most gullible yam must see that now.

You give them way way to much credit.

[hibbypostie]

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According to Kickback (admittedly, not the most reliable of sources) there's seemingly a comment in today's Sun that mentions that the date of the meeting is being announced today.

I'm not sure if this is the case, but I'm not aware (yet) of any confirmed date.

there was a small bit in todays sun saying BDO would be told the date of the UKIO meeting today
not seen any date mentioned though

[GreenLake]

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the chances are high that investors would not want to buy a property for fear of the continuing bullying, institutions of political pressure.

LOL !!

What, more kicking of Russian hats ?

The impression the HMFC establishment crooks are giving potential foreign investors is not beneficial for economic recovery. Is Scotland really a place where hooligans and corrupt politicians can bully investors from obtaining a fair market price for their assets?

[Dashing Bob S]

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The impression the HMFC establishment crooks are giving potential foreign investors is not beneficial for economic recovery. Is Scotland really a place where hooligans and corrupt politicians can bully investors from obtaining a fair market price for their assets?

Drunken jakeys in Russian hats crying silver tears of pride and breek-stained overweight politico's are hardly likely to deter investors who can sniff cash as well as pish.

[Kato]

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The impression the HMFC establishment crooks are giving potential foreign investors is not beneficial for economic recovery. Is Scotland really a place where hooligans and corrupt politicians can bully investors from obtaining a fair market price for their assets?

Not exactly the impression to give during the year of the referendum, yet Alex Salmond and Ian Murray seem happy to get behind this.

[Kato]

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Drunken jakeys in Russian hats crying silver tears of pride and breek-stained overweight politico's are hardly likely to deter investors who can sniff cash as well as pish.

Nice.

Nice at tea time, Bob.


C'mon, eh.

[Glesgahibby]

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You give them way way to much credit.

I don't think there club/newco/Phoenix/yamco will get any credit in the near future
as for the deluded yams,they must feel it inside

[Onion]

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Yip,
question is,how do BDO rally the troops for one more push without giving the game away?
Its very apparent now the odds are heavily stacked in favoure of liquidation,surely even the most gullible yam must see that now.

Would agree with you if it wasn't for the incredibly upbeat statements from FOH, Ian the MP and BDO. They could not have been more positive about the progress made on Monday (huge steps forward, half way their etc). If BIG L was looking likely, last Monday was the perfect opportunity/time to change the tone of the message.

[Glesgahibby]

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Would agree with you if it wasn't for the incredibly upbeat statements from FOH, Ian the MP and BDO. They could not have been more positive about the progress made on Monday (huge steps forward, half way their etc). If BIG L was looking likely, last Monday was the perfect opportunity/time to change the tone of the message.

FOH spinning yarns of meeting has just begun must set alarm bells ringing for the yam.
BDO have said nowt after Monday,again the yam must be deaf with the ringing in his napper

[Kato]

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Would agree with you if it wasn't for the incredibly upbeat statements from FOH, Ian the MP and BDO. They could not have been more positive about the progress made on Monday (huge steps forward, half way their etc). If BIG L was looking likely, last Monday was the perfect opportunity/time to change the tone of the message.

Got to keep those Direct debits coming in and stop Budgie from getting nervy.

Remember, it's only a few weeks ago that they were half-way there because they "had" the UKIO shares and the UBIG ones were the sticking point. Now it's the other way around but it's just "technical issues" and they're "waiting for that rubber stamp".

Truth is they haven't got any shares so far, not one share has changed ownership from Lithuania to the FoH.

Next week they'll be the brink of finding out about news the could lead to a meeting that if, things go Hearts way, will be taking a huge step towards Hearts, maybe, getting hold of shares that would lead to FULL FAN OWNERSHIP - if the proposed meeting takes place and if the Lithuanians see sense and if it's rubber stamped and if there are no further delays and if the shares are passed over quickly and that's taking into account a 20 day cooling off period and ratification by the Lithuanian court.

In other words they are waffling whilst they tread water whilst trying to appear up-beat. Magicians (and con-men ) call it "misdirection".

George Orwell wouldn't have proposed people being so stupid as to actually believe such guff, but here we are.

[PapillonVert]

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Would agree with you if it wasn't for the incredibly upbeat statements from FOH, Ian the MP and BDO. They could not have been more positive about the progress made on Monday (huge steps forward, half way their etc). If BIG L was looking likely, last Monday was the perfect opportunity/time to change the tone of the message.

I'm beginning to wonder if the BDO/FoH/BidCo strategy is to organise a meeting, any kind of meeting, with anyone connected with UKIO (or is it UBIG - so many twists and turns it's hard to keep up) in Lithuania, and then claim they have an agreement "in principle" for the transfer of the required shares.

FoH can then use this as an excuse to release some of the war chest and BDO can start selling season tickets.

Forget the need for Court ratification - that legal requirement will be conveniently glossed over as the famous "rubber stamp" formality. Even if the truth is, it isn't.....

Although it has to be said that HMFC wouldn't recognise a "principle" if it came up and hit them between the eyes.