UKIO declared bankrupt

[pivotno1]

sorry geoff that was meant as a reply to rudis post

[portobellojambo1]

Vlad does not own the shares in Hearts. UBIG own the shares and UBIG are still trading.

 

See in terms of the above Geoff, does the content of this link not suggest otherwise, or is the reporter incorrect. The 4th paragraph of the article in this attachment suggests that something may have happened which we were unaware of, and holdings we thought were held by UBiG appear to have possibly reverted to UKIO Bankas, and as such are now held by the bankruptcy administrator:

 

http://www.bloomberg...ator-named.html

[Fxxx the SPFL]

Just saw on a vilnus website that the Lithuanian Prime Minsiter is worried that the Ukio Bankus affair could damage their chances of attaining Euro adoption in 2015. this could either be a good or bad outcome for us they hopefully might write off the debt or may want to be seen as fiscally tough and call in as much of the debt as possible.

 

[Geoff Kilpatrick]

 

 

See in terms of the above Geoff, does the content of this link not suggest otherwise, or is the reporter incorrect. The 4th paragraph of the article in this attachment suggests that something may have happened which we were unaware of, and holdings we thought were held by UBiG appear to have possibly reverted to UKIO Bankas, and as such are now held by the bankruptcy administrator:

 

http://www.bloomberg...ator-named.html

I think this goes back to the collateral pledged by UBIG pre Ukio collapse in a bid to ward off bankruptcy.

 

The first thing the bankruptcy administrator is going to investigate is the myriad of inter-company loans between the two and we all suspect UBIG are goosed too. It would be better for us in terms of any deal to be dealing with the Lithuanian government, on the proviso that we have an interested party to cut a deal.

[Geoff Kilpatrick]

Just saw on a vilnus website that the Lithuanian Prime Minsiter is worried that the Ukio Bankus affair could damage their chances of attaining Euro adoption in 2015. this could either be a good or bad outcome for us they hopefully might write off the debt or may want to be seen as fiscally tough and call in as much of the debt as possible.

The Euro might not exist by 2015 in any case.