Share Transfers Agreed/Cooling off period

[greenginger]

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I think the Bloomberg report referred specifically to UBIG's assets, but it did cross my mind that the transfer of that 29.9% from UBIG to Ukio might not have stuck - it certainly hadn't been recorded at Companies House last time I looked.

The shares were originally put up as (worthless) security for UBIG's debt back in December 2012, but that doesn't mean they were transferred at that time, and of course UBIG's assets were later frozen, so they can't have been transferred after the court order. It all depends on the timing.

The Ukio Bankas share holding is not noted on the last AR01 filed in august 2012.

They are noted in the last set of Accounts filed by HOMFC in April 2013.

Hope that clears things up.

[Moulin Yarns]

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Threats of not getting planning permission and Edinburgh establishment pressurising any developers/builders not to get involved. In Robinson era sale of Tynie was a root to avoiding liquidation and carrying on as the "Hearts". Easy sale and development of Tynie means The Liquidation root is probable. to keep Hearts alive The Edinburgh establishment supported the former but not the latter.

here is how it works. A developer is looking for prime real estate, they see the 4 or 5 acres at Gorgie and start negotiations with CofEC. Cooncil is duty bound to look at potential Economic Benefit of development.

[Sanger]

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here is how it works. A developer is looking for prime real estate, they see the 4 or 5 acres at Gorgie and start negotiations with CofEC. Cooncil is duty bound to look at potential Economic Benefit of development.

Email the Liths if you have not already!

[greenginger]

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here is how it works. A developer is looking for prime real estate, they see the 4 or 5 acres at Gorgie and start negotiations with CofEC. Cooncil is duty bound to look at potential Economic Benefit of development.

No, before anyone goes near the Council , the site should be leveled, the steelwork cut up and sold for scrap, and the top soil put in a spoil heap.

Then speak to the Council about development potential.

[jgl07]

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If someone bought Tynie and left it empty for a couple of years, it would become such an eyesore/death trap (yes - even worse than now!) that they'll have no problem getting permission.

That's pretty well what happened with Powderhall. First the dog racing people were kicked out, the a year later the speedway team were evicted.

A three years down the line, planning permission was given to demolish the stadium and build housing on the site. This was despite it being on the flood plain.

[Deansy]

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If someone bought Tynie and left it empty for a couple of years, it would become such an eyesore/death trap (yes - even worse than now!) that they'll have no problem getting permission.

The Muppets might turn it into a shrine - probably best if Liquidation's announced at say, 9am then demolition to commence no later than 10am.

[GreenLake]

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here is how it works. A developer is looking for prime real estate, they see the 4 or 5 acres at Gorgie and start negotiations with CofEC. Cooncil is duty bound to look at potential Economic Benefit of development.

The Cooncil has a history of looking at the folds in their colon.

[BIGK]

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I ken a man, he's in charge o the world.

I, but I ken his dad!

[Joe6-2]

What's happening to this thread?!

[steakbake]

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The Muppets might turn it into a shrine - probably best if Liquidation's announced at say, 9am then demolition to commence no later than 10am.

Weren't they going to form a 10,000 man human chain around the stadium to protect it from the bulldozer?

Anyhow, I reckon they'll end up saving their club following some Goonies style exploits to find Vlad's lost treasure stashed on his old submarine starring Foulkes as Chunk and Hammil as Sloth.

[Phil D. Rolls]

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What's happening to this thread?!

Much the same as is happening to Hearts.

[Caversham Green]

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The Ukio Bankas share holding is not noted on the last AR01 filed in august 2012.

They are noted in the last set of Accounts filed by HOMFC in April 2013.

Hope that clears things up.

It's described in those accounts as a 'share pledge agreement' between Ukio and UBIG. That suggests to me that the shares hadn't actually been transferred at that point and the court order blocking sale of the shares could cast some doubts on the ownership. Of course, it might all be academic given the circumstances of all three companies, but it could be another wee twist in the comedy.

[greenginger]

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It's described in those accounts as a 'share pledge agreement' between Ukio and UBIG. That suggests to me that the shares hadn't actually been transferred at that point and the court order blocking sale of the shares could cast some doubts on the ownership. Of course, it might all be academic given the circumstances of all three companies, but it could be another wee twist in the comedy.

In the BDO statements it notes the list of share holders ,including Ukio Bankas , as being " Registered Shareholders ".

It also mentions that the merricks who handed over their Christmas money for the 2012 issue are not included.

[down-the-slope]

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It's described in those accounts as a 'share pledge agreement' between Ukio and UBIG. That suggests to me that the shares hadn't actually been transferred at that point and the court order blocking sale of the shares could cast some doubts on the ownership. Of course, it might all be academic given the circumstances of all three companies, but it could be another wee twist in the comedy.

And we all understand that a combination of legal complexities and potentially incomplete paper trails will add cost and more importantly TIME to unravelling it all.....

Tick Tock

[greenginger]

The HOMFC. registered of members was kept by Equiniti but they would not be willing to release information to bitter Hobos even if they are on the Creditors list for £ 17,165.00.

I dare say any transfer would have been done by HOMFC solicitors HBJ Gately Waring, who also ended up on the creditors list.

[grunt]

Update

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Hearts: Administrators delay Lithuania trip

HEARTS administrator Bryan Jackson has delayed his return to Lithuania as he continues to be unable to arrange a meeting with key creditors of Ukio Bankas.
Time is fast running down on Hearts’ ability to trade, and Jackson, of recovery experts BDO, had hoped to fly to Vilnius today to seek the agreement of the Ukio creditors to transfer their 29.9 per cent shareholding in the club.
However, as of last night, there was no news of a date for a meeting and Jackson has shelved his trip.

[#FromTheCapital]

Pleasing

[Onion]

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Update

That's not a good development for the Yams. The end is Nigh.

[CropleyWasGod]

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The HOMFC. registered of members was kept by Equiniti but they would not be willing to release information to bitter Hobos even if they are on the Creditors list for £ 17,165.00.

I dare say any transfer would have been done by HOMFC solicitors HBJ Gately Waring, who also ended up on the creditors list.

Pretty sure that a company's Register of Members is a public document, and that anyone can see it. Just running out of the door, but can check later.

[HIBERNIAN-0762]

Ho Ho that IS good news!

[grunt]

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Pretty sure that a company's Register of Members is a public document, and that anyone can see it.

Amusing FAQ on Companies House website.

http://www.companieshouse.gov.uk/inf...eholders.shtml

"You can only look at Register if you're asking for a "proper purpose"".
"What's a "proper purpose" then?"
"That's for us to know and you to find out".

[Brunswickbill]

The earliest we will know the date of the next meeting of UKIO creditors is today, or was it last Friday?

[Sergey]

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Update

That pretty much cements what I've been told and it sort of blows away the 18th/22nd April dates that have been circulated.

[Phil D. Rolls]

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Update

Hobo rag, there will be repercussions.....SCUD!!!.....ouch what was that for.......it wasn't JKB that caused this mess.....DOOOFFF!!!.........ugh, yer barred......THWACKA THWACKA SKLEET.....ehhhh 5-1?

[emerald green]

What does this mean for HOMFC (IA)? Out with the begging bowl again perhaps?

[Phil D. Rolls]

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The earliest we will know the date of the next meeting of UKIO creditors is today, or was it last Friday?

For those watching in Kickbackvision, pay no attention to the padlocks on the gates, they are there to protect the Famous from marauding Hobos.

For everyone else on Planet Earth, Bargain Hunt follows, and I have to say at £0.51, that fax machine looks like a real bobby dazzler.

[Phil D. Rolls]

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What does this mean for HOMFC (IA)? Out with the begging bowl again perhaps?

New companies, old badges, reclaiming football for the people, isn't it? Small boys (NOT NOW RON!!!), jumpers for goal posts, Mothers Pride on the table (THIS IS YOUR LAST WARNING!!!), Batman on TV, Saturday morning pictures, hmm, isn't it?.. (YOU'RE FIRED YOU NONCE!!!).

[Onion]

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What does this mean for HOMFC (IA)? Out with the begging bowl again perhaps?

Can't see how BDO can go back to the well, unless they've a firm date for this crucial meeting and firm assurances that the rest of the process will go without a hitch. IMHO the eleventh hour has past, the final orders bell has rung at the last chance saloon and the fat lady has entered stage left.

[emerald green]

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New companies, old badges, reclaiming football for the people, isn't it? Small boys (NOT NOW RON!!!), jumpers for goal posts, Mothers Pride on the table (THIS IS YOUR LAST WARNING!!!), Batman on TV, Saturday morning pictures, hmm, isn't it?.. (YOU'RE FIRED YOU NONCE!!!).

[emerald green]

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Can't see how BDO can go back to the well, unless they've a firm date for this crucial meeting and firm assurances that the rest of the process will go without a hitch. IMHO the eleventh hour has past, the final orders bell has rung at the last chance saloon and the fat lady has entered stage left.

Thanks for that, as I'm no expert on these matters. It doesn't look good for them though, if things keep dragging on. Time will tell. They must be keeking themselves now I would have thought.