Share Transfers Agreed/Cooling off period

[Ozyhibby]

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No but indirectly they are, in my eves, resposibile for helping hea7ts evade their debts. The whole system is just a bad joke and is about time people are held directly liable for their actions. Who is going to pay me back ? Or the charities ? Or the wee guy who fixed the lights ? Or the people in Lith who now have no savings ? With due respect as you know have most likely forgotten more about financial wrong doings than i shall ever know but i feel someone should carry the can for this whole mess so let the "fans" with the deepest pockets do so. I know this is not the law but the law can be, sir, as ass.

The shareholders of Hearts have lost everything. They have been wiped out. I'm not sure what else could be done?

[Bostonhibby]

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Some big babies on here today. If you're done with hibs because of the way this is panning out then you were probably on your way out anyway so tatty-bye.

This is like doing the crossbar challenge and hitting the post. We've lost nothing and had a laugh along the way. If you wanted them totally annihilated and are unhappy because it doesn't look like this will happen then you have to question how realistic you've been and how carried away you've got. Deals would probably have been done after liquidation to keep their ground and the only way they would be worse of is by two divisions.
They might get to officially keep their pots but they also get to keep their baggage of selling their soul, being cheats, thieves and doing nothing while those in charge basically condoned paedophilia. Liquidation would have given them a clean slate in that regard.

People also seemed driven by revenge. Not for me as I'm all about love for hibs and whatever they do is a side issue. I wonder how many on here advocate the death penalty?

The above is subject to them getting the actual shares, which might yet be a long way off. Time to chill, as it's always been.

Nae death penalty, liquidation was always enough.

[Ronniekirk]

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TBH, I have long given up trying to establish the truth of that. As has been said often enough, we only have limited info, and not enough to be certain either way. God bless our media.

BJ's statement this morning was very optimistic, as optimistic as he has been for a while. That would suggest they aren't a major problem. However, he also mentioned "hurdles" (plural)... which is at least one more than I had counted.

Mmmmm Hurdles ,and the commonwealth games acre coming up maybe hearts should enter some gone in the race as am sure they will clear them all ,now that all the big political hitters have used their influence .
But strange word to use ,as if all done and dusted and not expecting any hitches ,why use the word Hurdles .

[Keith_M]

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Is sergey about to shed any light on the shares? Are the frozen? Are they in the fridge? The microwave? Oven?

I think he's gone sailing with Sydney, Desantos and Alex Salmond in the English Channel

[Hamish]

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Actually, if the Yams come up at the expense of the New Huns, I could almost forgive them.

and what about if they come up at the expense of us

[MrSmith]

I'm trying to work this through slowly to gain perspective.

UBIG and UKIO have said yes to the shares and the CVA - is this correct?

If so, surely then the final hurdle would be to get it past Šiaulių bankas who now own UKIO?

I believe there to be an agreement to hand over but how can UKIO and or UBIG agree to this without the parent bank's approval?

[Sanger]

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You mean the Desantos that said the earliest possible date for a meeting of UKIO creditors was 22 April?

He did say that CVA was going to be accepted given there was no other serious interest in Tynie

[GreenLake]

I'm looking forward to the derby and witnessing the parade of disgrace. I want to see the scarf twirling little bitches gloating at their escape and displaying themselves in public for what they are - cheating *****. Imagine them celebrating a shameful episode in the history of their ****** little club like cheerleaders on an estrogen overdose while being relegated. From Champions League to Chumps League, from world cup stars to washed up spanners, from Vlad to Budge, from Ukio Bankas to Wonga, from 5.1 to no fun, from £50million Stadium to the piggery, from Big Hearts to poppy thieves, from the Heart and Soul of Edinburgh to the Arse and Hole of Edinburgh.

[Sanger]

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Desantos/Sanger.
Gonnae no take this the wrong way, but your posts have been up there with the weirdest on a forum. I dont know if you're a troll (not a good one), a yam on the wind up (again, not a good one), a Hibby with tiny elements of insight, a bizarre alter ego of Baj/Sergey or just maybe a bit "different".
Interesting in a Sidneyesque kind of way.

That's quite an achievement given what is posted here!

[One Day Soon]

This is one for CWG, Cav etc. Exactly how much debt has this CVA allowed the Yams to walk away from?

What is the total they will have ripped out of public bodies and therefore taxpayers?

How much will they have joy ridden from the private sector?

Are any charities out of pocket?

Have any of the politicians - Salmond, Murray etc said anything publicly at all about this behaviour or it's impact on those left fleeced? It really is extraordinary that an organisation can systematically milk public monies and then see Hearts fans who also happen to be politicians wade in with apparently no thought given to the debts left trailed behind.

What about all the small businesses that have had it tight in the last six years of recession? Paid all their taxes. For what? So that another business that happens to be a football club can pi5h it all down the drain and then get help from Hearts fans in public office?

[Cameron1875]

Why oh why did some posters on this site try to claim to be ITK and spreading the 'facts' about Hearts situation.

Turns out they were pretty much just as clueless about the situation as the rest of us but succeeding in getting loads of peoples hopes up. Now Hearts have stuck two fingers up at us an made this thread look bloody ridiculous.

Nice one lads.

[Kato]

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I'm looking forward to the derby and witnessing the parade of disgrace. I want to see the scarf twirling little bitches gloating at their escape and displaying themselves in public for what they are - cheating *****. Imagine them celebrating a shameful episode in the history of their ****** little club like cheerleaders on an estrogen overdose while being relegated. From Champions League to Chumps League, from world cup stars to washed up spanners, from Vlad to Budge, from Ukio Bankas to Wonga, from 5.1 to no fun, from £50million Stadium to the piggery, from Big Hearts to poppy thieves, from the Heart and Soul of Edinburgh to the Arse and Hole of Edinburgh.

This is a big day for them and their Establishment fans. Shows how no matter how you behave, you can just ignore all the criminality and theft then celebrate when everyone else gets shafted.

[SurferRosa]

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Budge may not want to move away too much from her business plan, but I am certain that, now that they have escaped the noose, there will be quite a number of rich Jambos who will be happy to invest considerable cash into their development.

IF there are, that would throw into doubt their pious notions of being "fan-owned" and led would it not. Rich jambos throwing money at them would lead them back into the mess of debt they`ve just fiddled themselves out of. As it is they still have around 6.5 million to pay back to Budgie.....wonder how their Direct Debits would cope with a few more million on top of that.

It would certainly be an interesting test for them if someone did want to pile tons of cash in and, in that case, why would the ordinary fan continue to pay his or her DD every month, because i sure wouldn`t.

[Kato]

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Why oh why did some posters on this site try to claim to be ITK and spreading the 'facts' about Hearts situation.

Turns out they were pretty much just as clueless about the situation as the rest of us but succeeding in getting loads of peoples hopes up. Now Hearts have stuck two fingers up at us an made this thread look bloody ridiculous.

Nice one lads.

Your own fault.

I don't feel silly at all. This thread has been a hoot but as far "hoping" for anything for Hearts that comes down to the individual. I domt want to see them happy at anything biut there is still plenty bad stuff comoing their way. You'll just have be patient.

[Cameron1875]

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Your own fault.

I don't feel silly at all. This thread has been a hoot but as far "hoping" for anything for Hearts that comes down to the individual. I domt want to see them happy at anything biut there is still plenty bad stuff comoing their way. You'll just have be patient.

My own fault that other people sprouted absolute nonsense?

The last two sentences in that post is just the exact drip-feed hinting that some of the 'ITK's have be posting.

[CropleyWasGod]

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I'm trying to work this through slowly to gain perspective.

UBIG and UKIO have said yes to the shares and the CVA - is this correct?

If so, surely then the final hurdle would be to get it past Šiaulių bankas who now own UKIO?

I believe there to be an agreement to hand over but how can UKIO and or UBIG agree to this without the parent bank's approval?

The creditors of both UBIG and UKIO have agreed to hand the shares over, and the creditors of UKIO (including Sialiu) have approved the CVA.

Sialiu had input in the process as owner/creditor of UKIO.

[Sanger]

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I think he's gone sailing with Sydney, Desantos and Alex Salmond in the English Channel

Give him a break - he's been on a ten year mission to end the Yams. Desantos came to the realisation the CVA would, and had it confrimed on Monday, be accepted some time ago but never gave up hope of it dragging on and the big L happening. Big difference between Ukio accepting the CVA and Hearts coming out of administraion. Still some way to go as Portsmouth found out.

[Keith_M]

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Give him a break - he's been on a ten year mission to end the Yams. Desantos came to the realisation the CVA would, and had it confrimed on Monday, be accepted some time ago but never gave up hope of it dragging on and the big L happening. Big difference between Ukio accepting the CVA and Hearts coming out of administraion. Still some way to go as Portsmouth found out.

My comment was intended in a humorous way. I give no apologies for not being as funny as I sometimes think I am.

[Saorsa]

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If you want to spend money you don't have you need someone to give you money they have. Nobody is lending to Scottish football anymore.

embezzle it,steal it, con folk. All seems perfectly acceptable.

[Greenworld]

Thats it they are safe jambos can now stop paying
their DD to FOH and spend a little on the wife and kids.

Happy days mrs budgie will now pay everything .

[Kaff]

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Is sergey about to shed any light on the shares? Are the frozen? Are they in the fridge? The microwave? Oven?

He's away checking his 10 year plan. Seems about as good as Rods 5 yr one.

[CropleyWasGod]

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This is one for CWG, Cav etc. Exactly how much debt has this CVA allowed the Yams to walk away from?

I have attached the BDO statement to creditors. That shows £28m of debt.

To that, you could (arguably) add the debt-forgiveness and debt-for-equity swaps. Others will be exact, but I'm sure that total was in the region of £22m.




RevisedStatementToCreditors.pdf

[Sanger]

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My comment was intended in a humorous way. I give no apologies for not being as funny as I sometimes think I am.

Two of them would be overboard by now - and they are not Sergey and myself!

[Saorsa]

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Lot of slashing of wrists on here this morning.
I don't think that the frozen shares will turn out to be a problem.
Let's look at where the two clubs are though. We are miles ahead of them in every aspect of the business.
Turning that advantage into superiority on the pitch is up to us and nothing to do with what happens to them.
Let focus on getting the 4 points we need to stay up and then start the rebuild over the summer.

If it's anything tae dae with those currently running this club you better no haud yer breath then, they fail miserably

[Kato]

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My own fault that other people sprouted absolute nonsense?

Your own fault for believing it or investing too much in it.

A wee tip. When reading anything on the net dispense regular pinches of salt.

The last two sentences in that post is just the exact drip-feed hinting that some of the 'ITK's have be posting.

Really? There is nothing specific in that post as I know nothing specific. If I knew any gossip I would probably choose not to post it.

What I meant in that last nbit is that they still face huge difficulties. The biggest of which is a variety of them are now going to be in charge of their club. Too many cooks spoil the broth goes the saying but when there are too many jambos their egos will ruin it for them. They will stumble over their own self-importance.

[CapitalGreen]

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Two of them would be overboard by now - and they are not Sergey and myself!

Any reason for the sudden change of username Desantos?

[Sanger]

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I have attached the BDO statement to creditors. That shows £28m of debt.

To that, you could (arguably) add the debt-forgiveness and debt-for-equity swaps. Others will be exact, but I'm sure that total was in in the region of £22m.




RevisedStatementToCreditors.pdf

Desantos's previous estimates put the total at arounfd £70 million:

Debts Millions	Comment	Link
22	debt for equity swaps over two years by UBIG 2008/2010	http://sport.stv.tv/football/clubs/h...necastle-club/
2	Forgiven by UBIG on take over	http://news.bbc.co.uk/sport1/hi/football/teams/h/heart_of_midlothian/4570516.stm
8.8	Forgiven by Panama subsuduary company 2011	http://sport.stv.tv/football/clubs/hearts/201686-mapping-hearts-finances-following-the-money-at-the-tynecastle-club/
7.9	payment from FC Kaunas 2010 - debt foregiveness	http://www.fm-base.co.uk/forum/scottish-football/81343-romanovs-battle-hearts-minds.html
40.7
28.5
69.2

[CropleyWasGod]

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Two of them would be overboard by now - and they are not Sergey and myself!

Arithmetic.

If there are 3 in the boat, and 2 are thrown out, that leaves 1.

[Sanger]

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I have attached the BDO statement to creditors. That shows £28m of debt.

To that, you could (arguably) add the debt-forgiveness and debt-for-equity swaps. Others will be exact, but I'm sure that total was in the region of £22m.




RevisedStatementToCreditors.pdf

Debts Millions	Comment	Link
22	debt for equity swaps over two years by UBIG 2008/2010	http://sport.stv.tv/football/clubs/h...necastle-club/
2	Forgiven by UBIG on take over	http://news.bbc.co.uk/sport1/hi/football/teams/h/heart_of_midlothian/4570516.stm
8.8	Forgiven by Panama subsuduary company 2011	http://sport.stv.tv/football/clubs/hearts/201686-mapping-hearts-finances-following-the-money-at-the-tynecastle-club/
7.9	payment from FC Kaunas 2010 - debt foregiveness	http://www.fm-base.co.uk/forum/scottish-football/81343-romanovs-battle-hearts-minds.html
40.7	Total forgiven/converted to equity
28.5	Current debt
69.2

[WHUHibs]

Just spoke to my contact and the one who advised me about the last statement before it was delivered.

It appears that the political persuasion came from the Lithuanian side to the bank based on there potential partnership with Alex Salmond. In addition to this there is another announcement tomorrow but he won't tell me what it is.

I did ask Sergey in a previous post to check the information when I first heard about it recently and unfortunately this was true. I thought it was bollocks based on the information provided on here but it seems that influences were being made behind the scenes that we were not aware of.

For all my fellow hibbies who said they want them to wallow in adjective failure for seasons to come,,I didn't I wanted them liquidated!