Share Transfers Agreed/Cooling off period

[Ronniekirk]

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Surely BIDCO 1905 is more accurate

Cheat co would be more accurate

[Jack]

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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"

At the meeting there would have been a bit of chat about the date of the next meeting.

Chairman "Shall we meet in about 10 days time?"

"Sounds fine"

"OK I'll have my PA phone round and confirm diaries"

Bloomberg ask attendee about the next meeting to which the reply is 'In about 10 days'

Date not confirmed as Easter was forgotten about, PA looks for alternatives after Easter.

[Craig_in_Prague]

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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

'hopeful' of a meeting and nothing confirmed (not even for 22nd, other than mentioned on here from a bloomberg contact - It would be up on UKIO site surely?).

the 'earliest' BDO will learn of the meeting is today (hmmm... )

I'm an MP Ian Murray says its not a concern at the moment (despite them staring at the big L ?)

'Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place' (Lobbying? Will they even be allowed near them?)

It really feels like we're on the bus to the big L and are just a couple of stops to go.

[McSwanky]

Ms Budge, Sunday 6 April: "Right, you Lith muppets, get this agreement sorted tomorrow or I'M OUT"
UKIO, Monday 7 April: "....."
Ms Budge, Monday 7 April: "...."
Ms Budge, Tuesday 8 April: "...."
Ms Budge, Wednesday 9 April: "...."
Ms Budge, Thursday 10 April: "...."

That's gone well so far then. Maybe we'll hear from her today?

[greenpaper55]

Over at comedy gold they are talking about fan ownership and how they arrived at this point but one goes on to say

"I agree the sfa/spfl should do more. Disagree about foreign being a problem. Vlad's willingness to take on the OF (and stand up to the sfa, media etc) was because he was from elsewhere.

Also think the "bought success" thing is a Hibs myth to make themselves feel better. We didn't buy 2nd place as Rangers spent way more and we didn't need all the cash to get third or beat gretna and hibs in cup finals.

The real issue with Vlad's spending was he could have used the money better and achieved much more.

If having agreed debt (with a payment plan in place until the credit crunch hit) is financial doping then almost every club is guilty, including barca, man utd and Hibs of course".

Agreed debt !, not sure the Lithuanian pensioners agreed to anything and they never bought success by the way, deluded to a man.

[marti1875]

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'hopeful' of a meeting and nothing confirmed (not even for 22nd, other than mentioned on here from a bloomberg contact - It would be up on UKIO site surely?).

the 'earliest' BDO will learn of the meeting is today (hmmm... )

I'm an MP Ian Murray says its not a concern at the moment (despite them staring at the big L ?)

'Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place' (Lobbying? Will they even be allowed near them?)

It really feels like we're on the bus to the big L and are just a couple of stops to go.

I was thinking the exact same in regards to BDO wanting to make a personal address (ie: beg, grovel) at the meeting whenever it does indeed even take place. Why on earth would they be allowed to basically gatecrash a meeting in Lithuania seems weird to me.

[Craig_in_Prague]

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I was thinking the exact same in regards to BDO wanting to make a personal address (ie: beg, grovel) at the meeting whenever it does indeed even take place. Why on earth would they be allowed to basically gatecrash a meeting in Lithuania seems weird to me.

and having read the report from the creditors meeting last month, BDO filling them with all the info. that the ground would be very unlikely to turn into residential units due to factories/hazards/hooliganism etc.... and value of land is less than reality etc..... they really are trying their all here - And now they want to hang around a creditors meeting to try and influence a decision.
makes you sick to be honest,
I understand they are trying to get the CVA through and you can partly admire their efforts in a tough case.... But it seems it's now bullying & resorting to any sort of tactics.
Rather unprofessional in truth.

[Sanger]

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At the meeting there would have been a bit of chat about the date of the next meeting.

Chairman "Shall we meet in about 10 days time?"

"Sounds fine"

"OK I'll have my PA phone round and confirm diaries"

Bloomberg ask attendee about the next meeting to which the reply is 'In about 10 days'

Date not confirmed as Easter was forgotten about, PA looks for alternatives after Easter.

22nd is the earliest it is likley to take place. BJ/BDO dragging this one out as other have pointed out and not really been telling the truth which is what they have been doing alll along.

[Sanger]

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I was thinking the exact same in regards to BDO wanting to make a personal address (ie: beg, grovel) at the meeting whenever it does indeed even take place. Why on earth would they be allowed to basically gatecrash a meeting in Lithuania seems weird to me.

Think BDO are in Lith lobbying creditors with the line £2.5m is all you will get and you are lucky to be getting that will all the horror stories around the impossible sale of Tynie for development.

[AltheHibby]

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If having agreed debt (with a payment plan in place until the credit crunch hit) is financial doping then almost every club is guilty, including barca, man utd and Hibs of course".

Agreed debt !, not sure the Lithuanian pensioners agreed to anything and they never bought success by the way, deluded to a man.

The way it's going over there I expect BJ's defence to the creditors to be along the lines of 'I swear oan me maw's life thit a big boy done it an' ran away'.

Their denial of basic facts is brathtaking, and well up to the Comical Ali and Bill Clinton levels of denial.

[Deansy]

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Surely BIDCO 1905 is more accurate

It'll be something subtle, unassuming and non-controversial - 'Hearts of Edinburgh', 'Edinburgh Utd', 'Real Edinburgh', 'Heartcelona' etc.

[greenginger]

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and having read the report from the creditors meeting last month, BDO filling them with all the info. that the ground would be very unlikely to turn into residential units due to factories/hazards/hooliganism etc.... and value of land is less than reality etc..... they really are trying their all here - And now they want to hang around a creditors meeting to try and influence a decision.
makes you sick to be honest,
I understand they are trying to get the CVA through and you can partly admire their efforts in a tough case.... But it seems it's now bullying & resorting to any sort of tactics.
Rather unprofessional in truth.

BDO showed their dishonesty back in November when they allowed Ukio Bankas to vote as an " un-connected creditor " at the CVA meeting.

That was the vote that defeated the HMRC vote against. Ukio Bankas were definitely a connected creditor and it should have been the Big L. for Christmas.

[Phil D. Rolls]

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Over at comedy gold they are talking about fan ownership and how they arrived at this point but one goes on to say

"I agree the sfa/spfl should do more. Disagree about foreign being a problem. Vlad's willingness to take on the OF (and stand up to the sfa, media etc) was because he was from elsewhere.

Also think the "bought success" thing is a Hibs myth to make themselves feel better. We didn't buy 2nd place as Rangers spent way more and we didn't need all the cash to get third or beat gretna and hibs in cup finals.

The real issue with Vlad's spending was he could have used the money better and achieved much more.

If having agreed debt (with a payment plan in place until the credit crunch hit) is financial doping then almost every club is guilty, including barca, man utd and Hibs of course".

Agreed debt !, not sure the Lithuanian pensioners agreed to anything and they never bought success by the way, deluded to a man.

Why don't they just face the facts, instead of these increasingly convoluted explanations of why they have done nothing wrong? Oscar Pistorious has a more plausible explanation for his actions than they do.

[The Falcon]

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Think BDO are in Lith lobbying creditors with the line £2.5m is all you will get and you are lucky to be getting that will all the horror stories around the impossible sale of Tynie for development.

They have an office in Lithuania.

I learned that on here.

[greenginger]

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Think BDO are in Lith lobbying creditors with the line £2.5m is all you will get and you are lucky to be getting that will all the horror stories around the impossible sale of Tynie for development.

Do the Lith. creditors know they are paying for BDO to hang around and pester them ?

[The Falcon]

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Do the Lith. creditors know they are paying for BDO to hang around and pester them ?

Can BDO justify their costs to the Lithuanian creditors as it is they who are ultimately paying for all this? Or can the creditors challenge and say something along the lines of

trying to save the company was never a financially viable option given the obstacles that were in place and the Yams should never have been allowed to start this season, the same obstacles that were in place with Portsmouth so you should have known. It was your decision therefore you pay.

[JeMeSouviens]

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

Yes, I believe they did. Trevor Birch was cheered onto the pitch at the end of BDO's stint there.

http://www.portsmouth.co.uk/sport/po...ival-1-5991674

[greenginger]

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Can BDO justify their costs to the Lithuanian creditors as it is they who are ultimately paying for all this? Or can the creditors challenge and say something along the lines of

trying to save the company was never a financially viable option given the obstacles that were in place and the Yams should never have been allowed to start this season, the same obstacles that were in place with Portsmouth so you should have known. It was your decision therefore you pay.

The fault was with Adomonis or what ever the Ukio Bankas administrator was called. Employing a " Celebrity Administrator " like Jackson.

If they wanted any return for the creditors it should have been the Big L. last summer.

Having said that, land values have risen greatly since then.

[The Falcon]

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The fault was with Adomonis or what ever the Ukio Bankas administrator was called. Employing a " Celebrity Administrator " like Jackson.

If they wanted any return for the creditors it should have been the Big L. last summer.

Having said that, land values have risen greatly since then.

At least that will warm the creditors hearts..........

[Glesgahibby]

Here's a wee puzzler?
If at the start of the season,hertz/bdo had 3000 + season tickets and an avarege walk up of 2/3000? per game at there disposal then why?
1)would they struggle to complete the season as some premier teams don't average 4000 per game?
2)would an administrator/BDO do a worse job than say Inverness,Patrick thistle,st mirren and Ross county?
Add to this donations from yams,and other clubs(as above)who have lower season tickets sales(even after the 7000 st money went AWOL)?
could it be there's been some porkys told regarding attendances?

[Sergey]

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They have an office in Lithuania.

I learned that on here.

They actually have three offices in Lithuania

Re this assumed date of the 18th/22nd - this is mere supposition as there's no date being discussed. I've probably got better contacts than the geezer at Bloomberg with several being pivotal creditors of Ukio Bankas. As and when a date is muted, they would know in advance of the alleged Bloomberg journalist.

Where he's (allegedly) getting his information is anyone's guess - as a guess is all it seems to be.

[Phil D. Rolls]

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Here's a wee puzzler?
If at the start of the season,hertz/bdo had 3000 + season tickets and an avarege walk up of 2/3000? per game at there disposal then why?
1)would they struggle to complete the season as some premier teams don't average 4000 per game?
2)would an administrator/BDO do a worse job than say Inverness,Patrick thistle,st mirren and Ross county?
Add to this donations from yams,and other clubs(as above)who have lower season tickets sales(even after the 7000 st money went AWOL)?
could it be there's been some porkys told regarding attendances?

Cant have been, the fans have been magnificent etc etc etc.

[scoopyboy]

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'hopeful' of a meeting and nothing confirmed (not even for 22nd, other than mentioned on here from a bloomberg contact - It would be up on UKIO site surely?).

the 'earliest' BDO will learn of the meeting is today (hmmm... )
I'm an MP Ian Murray says its not a concern at the moment (despite them staring at the big L ?)

'Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place' (Lobbying? Will they even be allowed near them?)

It really feels like we're on the bus to the big L and are just a couple of stops to go.

The highlighted part made me laugh, it means absolutely nothing.

The earliest I can have my next pint of cider is today.

I cannot have my next pint of cider yesterday or the day before because it wouldn't be my next one.

I may not however have my next pint of cider today, tomorrow or Sunday but the earliest I can have it is today.

Getting back to BDO and following my cider logic the earliest they can learn about the creditor's meeting is today because they never knew about it yesterday but it could be they won't learn about it until tomorrow, next week or next month. Completely meaningless but across the city they are getting excited about it.

[Geo_1875]

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The highlighted part made me laugh, it means absolutely nothing.

The earliest I can have my next pint of cider is today.

I cannot have my next pint of cider yesterday or the day before because it wouldn't be my next one.

I may not however have my next pint of cider today, tomorrow or Sunday but the earliest I can have it is today.

Getting back to BDO and following my cider logic the earliest they can learn about the creditor's meeting is today because they never knew about it yesterday but it could be they won't learn about it until tomorrow, next week or next month. Completely meaningless but across the city they are getting excited about it.

Is there some sort of subliminal message in your post? I can feel a terrible thirst building up.

[Craig_in_Prague]

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Is there some sort of subliminal message in your post? I can feel a terrible thirst building up.

haha - I don't even drink cider (very rarely), but now I'm choking on one.
Sun is shining and it's friday.
The earliest I can get that 1st pint is about 4.30pm :)

[God Petrie]

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The highlighted part made me laugh, it means absolutely nothing.

The earliest I can have my next pint of cider is today.

I cannot have my next pint of cider yesterday or the day before because it wouldn't be my next one.

I may not however have my next pint of cider today, tomorrow or Sunday but the earliest I can have it is today.

Getting back to BDO and following my cider logic the earliest they can learn about the creditor's meeting is today because they never knew about it yesterday but it could be they won't learn about it until tomorrow, next week or next month. Completely meaningless but across the city they are getting excited about it.

The earliest I can have a threesome with Natalie Portman and Beyoncé is today but I have more time tomorrow if they're reading.

[greenpaper55]

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The earliest I can have a threesome with Natalie Portman and Beyoncé is today but I have more time tomorrow if they're reading.

Sorry, they asked me first !.

[Phil D. Rolls]

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The earliest I can have a threesome with Natalie Portman and Beyoncé is today but I have more time tomorrow if they're reading.

[Moulin Yarns]

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Yes was on the Bloomberg news pages. That's what UKIO told Bloomberg as well before they realised it was Easter Friday now 22nd at the earliest. Ukio obviously doing some more due dilligence on value of Tynie and other bids.

Ukio Tell Bloomberg the meeting is on the 18th, then change it to the 22nd

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They actually have three offices in Lithuania

Re this assumed date of the 18th/22nd - this is mere supposition as there's no date being discussed. I've probably got better contacts than the geezer at Bloomberg with several being pivotal creditors of Ukio Bankas. As and when a date is muted, they would know in advance of the alleged Bloomberg journalist.

Where he's (allegedly) getting his information is anyone's guess - as a guess is all it seems to be.

BDO state in the Scotsman (I know!!) that they don't know when the meeting will be.

In Sergey I trust.

[crewetollhibee]

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Surely BIDCO 1905 is more accurate

TESCO 2014 sounds better.