Share Transfers Agreed/Cooling off period

[Jack]

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Stevie, the SPFL dumped a lot of the Stadium Requirements that had previously been part of the SPL Membership Criteria.

I know, for instance, there is no longer ANY requirement for a minimum number of seats (previously 6k). I don't claim to have any idea about all the new rules but, it may be that they don't have the same strict rules on ground sharing as the SPL.

I actually think the most likely scenario is renting Murrayfield. I honestly don't think the SRU would play hard ball with them regarding rent levels and they already have everything in place for football matches. it would be much cheaper than maintaining their own stadium and they would obviously have the potential for much higher attendances, because of both the size and location of the stadium

Tend to agree about Murrayfield.

Edinburgh Rugby play there in front of 3-5,000 crowds. Probably similar to what the massive FAMOUS could expect in lower leagues.

[Deansy]

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I see they are looking at players to recruit for their big adventure (in the lowland league)

http://www.edinburghnews.scotsman.co...stle-1-3373409

£200 ??!! - words fail me !!

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What kind of rent would they need to pay to groundshare? Could Livi or Dunfermline realy take getting played on every week?

Could/would Livi or Dunfermline take the financial-risk of renting to someone with an abysmal credit-history ?. A security-deposit would also cause problems for 'Skint Fc'.

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Oh Dear!! http://www.scotsman.com/news/scotlan...cted-1-3373913

Shocker - another story about Vlad in 'The Scotsman' but, like the previous 4-5 ones, comments aren't welcome - there's a common-theme developing here !. Is it the case the editors are worried that Lith-creditors might read what supporters of the club (laughably and arrogantly, offering £2.5m for the £70m+ of Lith-money they squandered !) really think of their 'Sweet Prince' who's put their club into the mess it's in ??. Or is it just the case their system would crash due to the sheer volume of messages of support ??

[Sammy7nil]

"A hearing on Tuesday was closed to both the press and the public, but it was reported that he (Vladamir) add*ressed the judge, Elena Pospelova, from a metal cage."

[GreenLake]

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This is a direct quote from an email they (Law firm, Tark Grunte Sutkiene, advising Ūkio Bankas) sent me when I enquired as a potential "new bidder"

"Please be informed that the current offer is on-going the approval procedure by Ūkio
Bankas creditors and it is expected it will be approved within the upcoming
days"

I have until tomorrow at 10 am Central European Tiime to submit my offer. So looks like as we suspect BDO right out of the picture and creditors still mulling over alterantives but BIDCO looks like being accepted.

Make it a good one.

[greenginger]

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This is a direct quote from an email they (Law firm, Tark Grunte Sutkiene, advising Ūkio Bankas) sent me when I enquired as a potential "new bidder"

"Please be informed that the current offer is on-going the approval procedure by Ūkio
Bankas creditors and it is expected it will be approved within the upcoming
days"

I have until tomorrow at 10 am Central European Tiime to submit my offer. So looks like as we suspect BDO right out of the picture and creditors still mulling over alterantives but BIDCO looks like being accepted.

BDO right out of the picture, but BIDCO looks like being accepted ....

BIDCO's offer is to step into FoH 's shoes once the CVA is complete.

Unless BIDCO have made a separate offer, which I very much doubt.

[Sanger]

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BDO right out of the picture, but BIDCO looks like being accepted ....

BIDCO's offer is to step into FoH 's shoes once the CVA is complete.

Unless BIDCO have made a separate offer, which I very much doubt.

It's the offer from Budge for £2.5m whatever legal guise that
May be under.

[Jim44]

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This is a direct quote from an email they (Law firm, Tark Grunte Sutkiene, advising Ūkio Bankas) sent me when I enquired as a potential "new bidder"

"Please be informed that the current offer is on-going the approval procedure by Ūkio
Bankas creditors and it is expected it will be approved within the upcoming
days"

I have until tomorrow at 10 am Central European Tiime to submit my offer. So looks like as we suspect BDO right out of the picture and creditors still mulling over alterantives but BIDCO looks like being accepted.

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BDO right out of the picture, but BIDCO looks like being accepted ....

BIDCO's offer is to step into FoH 's shoes once the CVA is complete.

Unless BIDCO have made a separate offer, which I very much doubt.

I'm a bit confused by all this myself. To my wee brain, this sounds like good news for them and their CVA will likely go ahead, unless the so-called frozen shares definitely come in to play ( nobody has come up with the definitive information on these shares and their importance.)

[Moulin Yarns]

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BDO right out of the picture, but BIDCO looks like being accepted ....

BIDCO's offer is to step into FoH 's shoes once the CVA is complete.

Unless BIDCO have made a separate offer, which I very much doubt.

Remember that BDO are also the court appointed administrators for Ukio Bankas, I think???????????

In other words what Desantos said doesn't seem to make sense about BDO being out of the picture. Also the Bidco bid is to BDO in the UK, not Tarkus in Lithuania.

[BH Hibs]

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Remember that BDO are also the court appointed administrators for Ukio Bankas, I think???????????

In other words what Desantos said doesn't seem to make sense about BDO being out of the picture. Also the Bidco bid is to BDO in the UK, not Tarkus in Lithuania.

Can't follow him with a map and compass.

[Waxy]

How can BDO be out the picture when they are meant to be doing this on behalf of BIDCO? I'm more confused than normal, and i'm normally confused lots.

[Craig_in_Prague]

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How can BDO be out the picture when they are meant to be doing this on behalf of BIDCO? I'm more confused than normal, and i'm normally confused lots.

not to mention, for creditors to accept anything, is there not meant to be a formal meeting set in advance for them to attend, to then vote? Can't see that has happened.

[Geo_1875]

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How can BDO be out the picture when they are meant to be doing this on behalf of BIDCO? I'm more confused than normal, and i'm normally confused lots.

They're meant to be doing it on behalf of the creditors.

[Keith_M]

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...... So looks like as we suspect BDO right out of the picture and creditors still mulling over alterantives but BIDCO looks like being accepted.

Have you any idea how nonsensical that sounded? You just posted two completely contradictory statements.


"BDO right out of the picture"

"still mulling over alterantives but BIDCO looks like being accepted"

[Jim44]

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Have you any idea how nonsensical that sounded? You just posted two completely contradictory statements.


"BDO right out of the picture"

"still mulling over alterantives but BIDCO looks like being accepted"

That's ITK experts for you.

[#FromTheCapital]

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Have you any idea how nonsensical that sounded? You just posted two completely contradictory statements.


"BDO right out of the picture"

"still mulling over alterantives but BIDCO looks like being accepted"

Quite a lot of desantos posts don't make any sense. Not sure if that's because of bad grammar or maybe it's just because he doesn't actually have a clue???

[Deansy]

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This is a direct quote from an email they (Law firm, Tark Grunte Sutkiene, advising Ūkio Bankas) sent me when I enquired as a potential "new bidder"

"Please be informed that the current offer is on-going the approval procedure by Ūkio
Bankas creditors and it is expected it will be approved within the upcoming
days"

I have until tomorrow at 10 am Central European Tiime to submit my offer. So looks like as we suspect BDO right out of the picture and creditors still mulling over alterantives but BIDCO looks like being accepted.

Used-car sales ploy to get rid of an old rust-bucket ?? - "I already have a buyer but if you ........"

[JeMeSouviens]

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Remember that BDO are also the court appointed administrators for Ukio Bankas, I think???????????

In other words what Desantos said doesn't seem to make sense about BDO being out of the picture. Also the Bidco bid is to BDO in the UK, not Tarkus in Lithuania.

The Ukio admin are Valnetas (although I think they may be a BDO company or linked in some way).

I think desantos is saying that BDO UK, i.e. Jackson and Birch, are outside the decision making process, which is currently the creditors of Ukio (mainly the govt bank bail out fund) doing some mulling ... but it's likely to be a round of green lights and rubber stamps when it comes.

So, onto the courts for ratification?

[Pedantic_Hibee]

Desantos should be banned from appearing on this thread. Spouts mair pish than Rowley Birkin QC.

[Hank Schrader]

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Desantos should be banned from appearing on this thread. Spouts mair pish than Rowley Birkin QC.

[ehf]

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Quite a lot of desantos posts don't make any sense. Not sure if that's because of bad grammar or maybe it's just because he doesn't actually have a clue???

Pile of keech; Ukio's lawyers would not reply to some random email from a "potential biddder". They would only treat such approach seriously if it came from a credible source, eg through another firm of lawyers, or accountants.

[Moulin Yarns]

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Pile of keech; Ukios's lawyers would not reply to some random email from a "potential biddder". They would only treat such approach seriously if it came from a credible source, eg through another firm of lawyers, or accountants.

Aye, but, Desantos knows people, and has contacts where it matters.

[Greenworld]

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This is a direct quote from an email they (Law firm, Tark Grunte Sutkiene, advising Ūkio Bankas) sent me when I enquired as a potential "new bidder"

"Please be informed that the current offer is on-going the approval procedure by Ūkio
Bankas creditors and it is expected it will be approved within the upcoming
days"

I have until tomorrow at 10 am Central European Tiime to submit my offer. So looks like as we suspect BDO right out of the picture and creditors still mulling over alterantives but BIDCO looks like being accepted.

I right like they would tell you that by email dear god none
of what you say even makes remote sense.

[Moulin Yarns]

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The Ukio admin are Valnetas (although I think they may be a BDO company or linked in some way).

I think desantos is saying that BDO UK, i.e. Jackson and Birch, are outside the decision making process, which is currently the creditors of Ukio (mainly the govt bank bail out fund) doing some mulling ... but it's likely to be a round of green lights and rubber stamps when it comes.

So, onto the courts for ratification?

A quick look and I found this

UAB Valnetas is one of the most experienced companies in bankruptcy administration in Lithuania. The company pointed out that for Ūkio bankas bankruptcy administration it has invoked a team of lawyers (TARK GRUNTE SUTKIENE and AAA Baltic Service Company), auditors (BDO Auditas ir apskaita, UAB), and asset valuators (NEWSEC/Re&Solution).


So BDO are auitors for the Administrator of Ukio Bankas, does that not stink of conflict of interest somewhere? What does someone with their finger on the pulse think, Desantos?

Also Is NEWSEC the people to tell about the true value of the piggery?

[jakeshibs]

I am now more confused that ever, can someone explain what is now happening and what we are waiting for? I don't know if I should get ready to celebrate or not,

when is the BIG L coming or are they going to survive please let me have the last laugh for eternity!! Mon the Hibs!!

[Dashing Bob S]

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This is a direct quote from an email they (Law firm, Tark Grunte Sutkiene, advising Ūkio Bankas) sent me when I enquired as a potential "new bidder"

"Please be informed that the current offer is on-going the approval procedure by Ūkio
Bankas creditors and it is expected it will be approved within the upcoming
days"

I have until tomorrow at 10 am Central European Tiime to submit my offer. So looks like as we suspect BDO right out of the picture and creditors still mulling over alterantives but BIDCO looks like being accepted.

Option One: You've hit a new low in confused, attention-seeking pish.

Option Two: They think you are a muppet and are giving you the standard fob-off they issue to the hundreds of others who make such 'inquiries.'

Option Three: one and two above.

[JeMeSouviens]

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I am now more confused that ever, can someone explain what is now happening and what we are waiting for? I don't know if I should get ready to celebrate or not,

when is the BIG L coming or are they going to survive please let me have the last laugh for eternity!! Mon the Hibs!!

Here's the state of play ...

The muppets need to purchase UBIG's 49% stake in Hearts, Ukio's 29.9% stake in Hearts and Ukio to release the security they hold over Tiny.

The CVA was meant to agree that £2.5M would release the security, the Mysterious Memorandum of Understanding (MMoU) agreed a price for the shares.

To proceed with these agreements, the creditors of both UBIG and Ukio have to approve*.

UBIG's creditors have approved but it's open to appeal for another couple of weeks (and there was reported dissent at the creditors' meeting).

Ukio's creditors have yet to approve and haven't scheduled a meeting.

As things stand, BDO expect to run out of cash in a matter of weeks and would be forced to liquidate unless they can find more money somewhere. They can't put STs on sale and start using the money up front so the only way they could keep going in admin would be donations from Foundation of Muppets (may require amendment to FoM constitution), Budgie or direct-from-Muppet. You could see them doing that for a short term delay but unlikely if the hold up would run to months.

* they may also need court approval which may or may not be a formality.

[Keith_M]

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Option One: You've hit a new low in confused, attention-seeking pish.

Option Two: They think you are a muppet and are giving you the standard fob-off they issue to the hundreds of others who make such 'inquiries.'

Option Three: one and two above.

Maybe it's time for a new poll, get everybody's views.

[greenpaper55]

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Aye, but, Desantos knows people, and has contacts where it matters.

He must be wee Broony

[CropleyWasGod]

Okay, need to nail a few things here.

At this stage, there can be no "bids". That applies to the CVA process currently happening, as well as the PBS.

The CVA process involves FOH, not BIDCO or anyone else.

The PBS cannot be sold at this stage.

If the UKIO lawyer is involved in establishing "offers", my guess would be that they are gathering evidence, in order to advise the UKIO creditors of the acceptability or otherwise of the FOH bid.

[Mikey]

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This is a direct quote from an email they (Law firm, Tark Grunte Sutkiene, advising Ūkio Bankas) sent me when I enquired as a potential "new bidder"

"Please be informed that the current offer is on-going the approval procedure by Ūkio
Bankas creditors and it is expected it will be approved within the upcoming
days"

I have until tomorrow at 10 am Central European Tiime to submit my offer. So looks like as we suspect BDO right out of the picture and creditors still mulling over alterantives but BIDCO looks like being accepted.

You're going to have to explain the bit in bold because it makes no sense whatsoever to me.