Share Transfers Agreed/Cooling off period

[Kato]

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must set alarm bells ringing for the yam.

You would imagine.

If the Hearts fans in my work are anything to go by they are happy sitting about in a puddle of their own "5-1, 1902" flavoured pish.

Idiots, yes - but they don't stand a chance given the lies there own people are spinning them.

[NYHibby]

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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!

This is correct. Most press release quotes are made up by the person writing the press release not the named individual.

[Jdawg]

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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:-
Point 2.

.

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.

As as soon as liquidator appointed PBS can be sold. In a liquidation it's sold as it is and no warranty or indemnity required as it's a commercial premises.

Locked straight away as asset is in the hands of the liquidator

[EdinMike]

[Brunswickbill]

from Sickbag today

The lack of communication is a worry. We were all led to believe Monday was D day yet it came and went without the ukio meeting and no mention if that was even planned for the same day.

We can only hope paperwork and last minute niggles are being ironed out, but I do have a nagging feeling the goalposts have been moved since they agreed the cVa in principal last November.

The real people who are ITK have kept quiet for almost the whole of the admin process, let's just hope we don't have much longer being kept in the dark and this meeting goes through by end of the month.



Perfect example of Mushroom management. Keep them in the dark and feed them sh*t

[monktonharp]

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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

also, Lithuania will need an embassy, if we are independent. a brand new purpose built embassy, a mile from the city centre, with no problem getting planning permission. oh the irony.

[jakeshibs]

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also, Lithuania will need an embassy, if we are independent. a brand new purpose built embassy, a mile from the city centre, with no problem getting planning permission. oh the irony.

that would be great ha ha

[Dashing Bob S]

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Nice.

Nice at tea time, Bob.


C'mon, eh.

I do beg your pardon, but you must be fully aware of the risks incurred going on a thread relating to Hearts around meal times. 'You've only done it to yourself.'

[Kato]

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I do beg your pardon, but you must be fully aware of the risks incurred going on a thread relating to Hearts around meal times. 'You've only done it to yourself.'

Point taken.

[Springbank]

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also, Lithuania will need an embassy, if we are independent. a brand new purpose built embassy, a mile from the city centre, with no problem getting planning permission. oh the irony.

Tynecastle would make for an excellent location for a Lithuanian embassy, a hat factory and a grubby little office for ukip and the bnp (at notorious section N of their pokey ground)

[monktonharp]

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Tynecastle would make for an excellent location for a Lithuanian embassy, a hat factory and a grubby little office for ukip and the bnp (at notorious section N of their pokey ground)

some of these new build places need to conform with outside influences, but those from outwith their thoughts may help to pay the initial start up costs. eventually, any trouble makers will be emptied oot, as this area will be classed as quite exclusive. They could have plans to share the building(s) with Estonia, Latvia for example.

[Criswell]

Re Lord Foulkes of Leakstaines. Wasn't he going to have a meeting with the Lithuainian Ambassador to make a special pleading? Question is, when he fetched up at the Embassy, reeking of booze and dressed like a tramp, did he even get into the building?

[GlasgowHibee]

What a shock... not.


Bryan Jackson, of Hearts’ administrators BDO, has returned from Lithuania without confirmation of when Ukio Bankas’ pivotal creditors meeting will take place.
Ann Budge’s BIDCO 1874 company have tabled a £2.5 million offer for Ukio’s 29.9 per cent shareholding in the club and their security over Tynecastle Stadium, but it must be ratified by creditors of the fallen bank.
If the transfer of shares is not confirmed, Hearts are effectively guaranteed to face liquidation. However, a date for the meeting which will decide the fate of the capital club has not yet been pencilled in.
BDO remain hopeful the meeting will take place next week. To that end, Jackson will return to Vilnius next Monday.
The earliest BDO are expected to learn the pivotal date is today, but that entirely depends on the progression of high-level talks continuing in Lithuania.

http://www.scotsman....-week-1-3372917

[s2hart]

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What a shock... not.


Bryan Jackson, of Hearts’ administrators BDO, has returned from Lithuania without confirmation of when Ukio Bankas’ pivotal creditors meeting will take place.
Ann Budge’s BIDCO 1874 company have tabled a £2.5 million offer for Ukio’s 29.9 per cent shareholding in the club and their security over Tynecastle Stadium, but it must be ratified by creditors of the fallen bank.
If the transfer of shares is not confirmed, Hearts are effectively guaranteed to face liquidation. However, a date for the meeting which will decide the fate of the capital club has not yet been pencilled in.
BDO remain hopeful the meeting will take place next week. To that end, Jackson will return to Vilnius next Monday.
The earliest BDO are expected to learn the pivotal date is today, but that entirely depends on the progression of high-level talks continuing in Lithuania.

http://www.scotsman....-week-1-3372917

Is this why Bajillions has been quiet for the past week? I enjoy reading his insiders mood updates from the pink bus shelter!

It would be handy to know what his SPFL or SFA insider has to say on the begging bowl coming out for the remaining cash!

Thanks to our knowledgable people and keep up the good work, we know where to come for the truth.

[bingo70]

So bdo were lying to the lithuanians about needing a decision on monday in order to bully them into making a rushed decision?

[Moulin Yarns]

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What a shock... not.


Bryan Jackson, of Hearts’ administrators BDO, has returned from Lithuania without confirmation of when Ukio Bankas’ pivotal creditors meeting will take place.
Ann Budge’s BIDCO 1874 company have tabled a £2.5 million offer for Ukio’s 29.9 per cent shareholding in the club and their security over Tynecastle Stadium, but it must be ratified by creditors of the fallen bank.
If the transfer of shares is not confirmed, Hearts are effectively guaranteed to face liquidation. However, a date for the meeting which will decide the fate of the capital club has not yet been pencilled in.
BDO remain hopeful the meeting will take place next week. To that end, Jackson will return to Vilnius next Monday.
The earliest BDO are expected to learn the pivotal date is today, but that entirely depends on the progression of high-level talks continuing in Lithuania.

http://www.scotsman....-week-1-3372917

OK, the big question now is.....

How come BJ doesn't know when /if the meeting is happening, but he hopes it is next week, when Desantos has it from his contacts on the ground in Lithuania (Bloomberg), that it was on the 18th, then shifted to the 22nd because somebody pointed out it was Easter weekend??

Second Question, this is the first time I've seen the name of Bidco referred to as "BIDCO 1874"

[Waxy]

Bidco, kinda reminds me of sevco.

[lapsedhibee]

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this is the first time I've seen the name of Bidco referred to as "BIDCO 1874"

Daubing "1874" on all the documentation will certainly convince me that The The Famous, or whatever the eventual phoenix company calls itself, will still be the same club after liquidation as before.

[God Petrie]

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Daubing "1874" on all the documentation will certainly convince me that The The Famous, or whatever the eventual phoenix company calls itself, will still be the same club after liquidation as before.

Personally I'm surprised they didn't go with BIDCO 1914

[Weststandwanab]

I think you will find they will go with Newco
.

[greenpaper55]

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I think you will find they will go with Newco
.

I wish they would just go.

[Onion]

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Personally I'm surprised they didn't go with BIDCO 1914

We define them. BIDCO1902/5-1

[Ronniekirk]

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I think you will find they will go with Newco
.

Or Youngco

[#FromTheCapital]

"Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place."

They surely wouldn't need to do this if it was a foregone conclusion. If this happens I hope the creditors are smart enough not to believe the bull**** BDO will be feeding them.

[Onion]

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"Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place."

They surely wouldn't need to do this if it was a foregone conclusion. If this happens I hope the creditors are smart enough not to believe the bull**** BDO will be feeding them.

Exactly what I thought when read that. Definitely sounds 50/50 at best.

[Weststandwanab]

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I wish they would just go.

Like Sevco and The Rangers, Hearts are not going to go "The Famous will just support a Newco of some identity and play the martyrdom card

[Ronniekirk]

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"Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place."

They surely wouldn't need to do this if it was a foregone conclusion. If this happens I hope the creditors are smart enough not to believe the bull**** BDO will be feeding them.

Says hopeful ,why would they want to hear more lies from this mob ,they have already Sussex out they are being bullied and short changed.
Maybe we should be allowed a hibs .net delegation led by Sergey to give the counter arguments in the interests of balance and sporting integrity . And show them in their true colours

[The Falcon]

Does anybody know if BDO went to these lengths to preserve the company at Portsmouth FC?

[greenginger]

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"Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place."

They surely wouldn't need to do this if it was a foregone conclusion. If this happens I hope the creditors are smart enough not to believe the bull**** BDO will be feeding them.

Hope he brushes up on his Lithuanian, and I don't suppose he will start with ,

" Right you lot, you had better listen as I cost £ 500/hour and your paying ......."

[Springbank]

Surely BIDCO 1905 is more accurate