Share Transfers Agreed/Cooling off period

[Dashing Bob S]

This thread has been marvelous entertainment and I wouldn't have changed a word. Preferred outcome for me was always fan ownership and living within their means. Will lead to more frustration and bitterness, and far less unity than a Newco Hearts working through the divisions.

Budge has already moved to dampen Yam expectations, but it sends out a grim signal of failure. They no longer have patience in their DNA, even less than other football fans.

Her tight budgets will cause major discord within two or three months at the PBS.

[Keith_M]

Glad to see this thread back, despite its detractors.


On the point of when they come out of Admin, the situation at Dunfermline could be one to judge it by. AFAIK, it was about 3 months from an agreement being made until they were officially declared as leaving Admin.

It may not be that long in their case, who knows, but it does mean it's still not defnite that they'll avoid another 15 point penalty.

So, what we need now is for The Rangers to announce Administration, with the associated 25 points deduction, and we'll be favourites for the Championship next season

[Jack]

Question?

When people are saying "Court needs to approve" is this a Lithuanian court releasing the shares or, a Scottish court approving the exit from administration or, both?

Or maybe even the Court of King Caracticus?

Sorry ;-( I'm just passing by ;-)

[ALF TUPPER]

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Question?

When people are saying "Court needs to approve" is this a Lithuanian court releasing the shares or, a Scottish court approving the exit from administration or, both?

Or maybe even the Court of King Caracticus?

Sorry ;-( I'm just passing by ;-)

rofl@rolf

[sidjames]

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This thread has been marvelous entertainment and I wouldn't have changed a word. Preferred outcome for me was always fan ownership and living within their means. Will lead to more frustration and bitterness, and far less unity than a Newco Hearts working through the divisions.

Budge has already moved to dampen Yam expectations, but it sends out a grim signal of failure. They no longer have patience in their DNA, even less than other football fans.

Her tight budgets will cause major discord within two or three months at the PBS.

A tight budget eh! Just in the door and she has a clothing allowance. Russian hats out ladies underwear in.

[Weststandwanab]

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Question?

When people are saying "Court needs to approve" is this a Lithuanian court releasing the shares or, a Scottish court approving the exit from administration or, both?

Or maybe even the Court of King Caracticus?

Sorry ;-( I'm just passing by ;-)

At the risk of flack, both.

The Second will be straight forward when the papers are presented to The Court of Session in Edinburgh.

The first now it seems to have all gone quiet on that n tat is a prerequisite for the second.

[Mikey09]

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At the risk of flack, both.

The Second will be straight forward when the papers are presented to The Court of Session in Edinburgh.

The first now it seems to have all gone quiet on that n tat is a prerequisite for the second.

So.... Have the lith courts released the shares or not??? What would be the reasons in not doing so??

[Weststandwanab]

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So.... Have the lith courts released the shares or not??? What would be the reasons in not doing so??

I do not know but would imagine if they had been released they would have been paraded online by F. O. H. and BDO would have filed papers at the court of session to exit Admin.

If the ownership of the shares are in dispute because of a criminal offence such as money laundering then they may be "evidence" and therefore still with the courts in lithland.

[Hibs07p]

Is the microwave on yet?

GGTTH

[Spike Mandela]

They've got over 2 months to tie up the loose ends before it becomes a real problem so wouldn't get too excited.



Edit: sure Bajillions mentioned that Vlad's arrest, then non arrest(convenient) seemed to unfreeze the shares.

[Weststandwanab]

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They've got over 2 months to tie up the loose ends before it becomes a real problem so wouldn't get too excited.



Edit: sure Bajillions mentioned that Vlad's arrest, then non arrest(convenient) seemed to unfreeze the shares.

Can you explain the "over two months" ? Please

[Eyrie]

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Can you explain the "over two months" ? Please

Presumably a reference to the Yams facing a fifteen point penalty if they're still in administration at the start of next season.

[Weststandwanab]

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Presumably a reference to the Yams facing a fifteen point penalty if they're still in administration at the start of next season.

Indeed you may be correct.

However no news from Lithlland and the longer that is the case ......

[EK_Hibs]

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Indeed you may be correct.

However no news from Lithlland and the longer that is the case ......

Wait, let me guess.... 'the big L'...?

[Spike Mandela]

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Presumably a reference to the Yams facing a fifteen point penalty if they're still in administration at the start of next season.

Correct. Whilst obviously the sooner the administration is over the sooner they can start signing players but I was just trying to explain the relative quiet and lack of urgency as they had two months before any further penalty kicked in.

[jacomo]

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Wait, let me guess.... 'the big L'...?

Typical Diet Huns. Similar, but ultimately a smaller story in every way.

Craig 'leather document wallet' Levein has way more self-regard than talent, however. Budgie best keep him on a tight leash or he'll lead them back to ruin faster than Sally.

[Greenworld]

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Glad to see this thread back, despite its detractors.


On the point of when they come out of Admin, the situation at Dunfermline could be one to judge it by. AFAIK, it was about 3 months from an agreement being made until they were officially declared as leaving Admin.

It may not be that long in their case, who knows, but it does mean it's still not defnite that they'll avoid another 15 point penalty.

So, what we need now is for The Rangers to announce Administration, with the associated 25 points deduction, and we'll be favourites for the Championship next season

Its hibs we would still blow it

[StevieC]

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Edit: sure Bajillions mentioned that Vlad's arrest, then non arrest(convenient) seemed to unfreeze the shares.

Was it not the case that he was arrested in Russia but they failed to secure extradition to Lithuania?

If that were the case then wouldn't he still be classed as "wanted for questioning" in Lithuania (in the eyes of the court)?

Not saying it makes any difference to the process for securing shares, just saying it didn't sound like he got off with anything.

[Keith_M]

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Was it not the case that he was arrested in Russia but they failed to secure extradition to Lithuania?

If that were the case then wouldn't he still be classed as "wanted for questioning" in Lithuania (in the eyes of the court)?

Not saying it makes any difference to the process for securing shares, just saying it didn't sound like he got off with anything.

I think that pretty much sums it up, he's still a wanted man.


He had previously given up his Russian citizenship for his failed attempt to become a politician in Lithuania. That was a problem for him, as he could have been extradited from Russia, but he managed to convince a court that he had an application in progress to regain his Citizenship, meaning he couldn't be extradited. They fell for it.

[southern hibby]

Every day they are I'n admin is a day they cannot sign players unless they have permission from the SFA, to do so.
What I cannot understand is why have they not started selling season tickets yet. Also until they actually get the shares, how long is budge expected to go taking the chance of financing them with the possibility of no shares arriving. We have read that the money has been sent to lith for them, but has it? Let's be honest you really cannot believe anything that they say.

Not sure why but I have a gut instinct that this saga has a chapter or three left I'n it. GGTTH

[Famous Fiver]

Southern

I'm with you on this one. Plenty of twists and turns left yet but even if they escape further sanction we can enjoy Potter destroying them,.

Slow death or the big L. Tough one.

[greenginger]

I'm still out of the country and a bit short on info. but I would'nt think the lack of the Yam shares would stop Jackson trying to exit them from admin.

" There is an agreement in place for the shares to be purchased at an fixed price and the shares will be delivered as soon as some unfortunate details are sorted overseas M'Lud ". Please rubber stamp this piece of paper.

Jackson is a desparado, the legal rules of administration are there to be bent for his own ego's sake.

The whole admin. was a farce, a pittance for the secured creditor, £ 1 million in fees for BDO, nowt for the ordinary creditors and Yam hero status for Jackson.

[brog]

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I'm still out of the country and a bit short on info. but I would'nt think the lack of the Yam shares would stop Jackson trying to exit them from admin.

" There is an agreement in place for the shares to be purchased at an fixed price and the shares will be delivered as soon as some unfortunate details are sorted overseas M'Lud ". Please rubber stamp this piece of paper.

Jackson is a desparado, the legal rules of administration are there to be bent for his own ego's sake.

The whole admin. was a farce, a pittance for the secured creditor, £ 1 million in fees for BDO, nowt for the ordinary creditors and Yam hero status for Jackson.

A pretty succinct summary GG. I remember posting months ago that the only thing certain in this whole desperate saga was that BDO were the only guaranteed winners. To somehow convince people that The UKIO Bankas Investment Group were not related to, em UKIO Bankas, was worthy of Comical Ali.

[Weststandwanab]

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Every day they are I'n admin is a day they cannot sign players unless they have permission from the SFA, to do so.
What I cannot understand is why have they not started selling season tickets yet. Also until they actually get the shares, how long is budge expected to go taking the chance of financing them with the possibility of no shares arriving. We have read that the money has been sent to lith for them, but has it? Let's be honest you really cannot believe anything that they say.

Not sure why but I have a gut instinct that this saga has a chapter or three left I'n it. GGTTH

I agree plenty more action in this gig.

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Southern

I'm with you on this one. Plenty of twists and turns left yet but even if they escape further sanction we can enjoy Potter destroying them,.

Slow death or the big L. Tough one.

Careful quoting the big L on here - unless you me Levien

[greenginger]

I see from Companies House web site Hearts have satisfied the floating charge held by Ukio bankas. ( 14/5/2014 )

Does that mean Budge has handed over the £ 2.5 million to the Liths ? What about BDO's fees ? , have they been calculated and deducted or will Jackson have to go cap in hand to the Ukio admin. and ask for his money ?

[GreenLake]

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I see from Companies House web site Hearts have satisfied the floating charge held by Ukio bankas. ( 14/5/2014 )

Does that mean Budge has handed over the £ 2.5 million to the Liths ? What about BDO's fees ? , have they been calculated and deducted or will Jackson have to go cap in hand to the Ukio admin. and ask for his money ?

They owe it to themselves

[greenginger]

http://www.lrytas.lt/-13996397611398...-milijonai.htm


Don't know if this has been posted ,but its a report on the sale of the Ukio Bankas interests in Hearts.

The Ukio admin says they got £ 2.4 million less " administative expenses " of £ 325,000, net £ 2.075 million.

Presume the extra £ 100,00 has been kept back for the UBIG shares.

BDO only getting £ 325,000 ? poor return by their standard .

[eggbamyasi]

Why are they still in admin ? Should they not be out by now ? And what is stopping them doing so ? And why is there no media coverage of the fact there still in admin ? Mildly confused as to reason , anyone shed any light on it please

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[Oscar T Grouch]

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Why are they still in admin ? Should they not be out by now ? And what is stopping them doing so ? And why is there no media coverage of the fact there still in admin ? Mildly confused as to reason , anyone shed any light on it please

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Pretty sure it took 3 months for Dumfy to exit admin after everything was settled. Just a matter of time, tying up loose ends and the such.

[Coco Bryce]

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http://www.lrytas.lt/-13996397611398...-milijonai.htm


Don't know if this has been posted ,but its a report on the sale of the Ukio Bankas interests in Hearts.

The Ukio admin says they got £ 2.4 million less " administative expenses " of £ 325,000, net £ 2.075 million.

Presume the extra £ 100,00 has been kept back for the UBIG shares.

BDO only getting £ 325,000 ? poor return by their standard .

Yams have even stitched them up