HMFC-TILL-I-DIE Posted August 12, 2013 Share Posted August 12, 2013 Just heard on the radio that Ukio Bankas have agreed to a CVA one down one to go and we are out of admin not saying they have agreed to it butthey voted for a CVA good new on the park and good news off of it Link to comment Share on other sites More sharing options...
Beats Posted August 12, 2013 Share Posted August 12, 2013 Anyone catch that on Radio Scotland about Ukio saying they would accept a cva? Link to comment Share on other sites More sharing options...
Footballfirst Posted August 12, 2013 Share Posted August 12, 2013 Just listening to Sportsound. At a creditors meeting today it seems that the Ukio administrator voted in favour of proceeding towards a CVA, while UBIG didn't vote. I would suggest that it is a positive step forwards. Link to comment Share on other sites More sharing options...
Back to 2005 Posted August 12, 2013 Share Posted August 12, 2013 Sounds promising. Link to comment Share on other sites More sharing options...
Alwaysinourshadows Posted August 12, 2013 Share Posted August 12, 2013 Good news but why would UBIG not vote? Link to comment Share on other sites More sharing options...
Brandt Posted August 12, 2013 Share Posted August 12, 2013 Feck me! thats a turn up! Amazing if true! Link to comment Share on other sites More sharing options...
Footballfirst Posted August 12, 2013 Share Posted August 12, 2013 Good news but why would UBIG not vote? Possibly because they are in limbo waiting to see if there are any objections against the administrator being appointed. Link to comment Share on other sites More sharing options...
HMFC-TILL-I-DIE Posted August 12, 2013 Author Share Posted August 12, 2013 Feck me! thats a turn up! Amazing if true! its on sportsound now Link to comment Share on other sites More sharing options...
Roberto Rajio Posted August 12, 2013 Share Posted August 12, 2013 Yahoo! Link to comment Share on other sites More sharing options...
Chester™ Posted August 12, 2013 Share Posted August 12, 2013 Remind me, was the majority of the debt and the floating charge not with Ukio B rather than UBIG? Link to comment Share on other sites More sharing options...
jamboceej Posted August 12, 2013 Share Posted August 12, 2013 Why can you not listen to sportsound online anymore? Link to comment Share on other sites More sharing options...
HMFC-TILL-I-DIE Posted August 12, 2013 Author Share Posted August 12, 2013 Remind me, was the majority of the debt and the floating charge not with Ukio B rather than UBIG? its with Ukio b they own tynie so its them that we realy need to please with this CVA Link to comment Share on other sites More sharing options...
DETTY29 Posted August 12, 2013 Share Posted August 12, 2013 Remind me, was the majority of the debt and the floating charge not with Ukio B rather than UBIG? Yep. Link to comment Share on other sites More sharing options...
Chester™ Posted August 12, 2013 Share Posted August 12, 2013 Why can you not listen to sportsound online anymore? You can: http://www.bbc.co.uk/sport/0/scotland/21267690'>http://www.bbc.co.uk/sport/0/scotland/21267690 You have to go through this route first: http://www.bbc.co.uk/sport/0/scotland/ Link to comment Share on other sites More sharing options...
Beats Posted August 12, 2013 Share Posted August 12, 2013 Its off now. Talking about Fenlon now Link to comment Share on other sites More sharing options...
Footballfirst Posted August 12, 2013 Share Posted August 12, 2013 Let's not get too carried away yet. Ukio have not agreed a CVA, but have agreed that BDO should proceed with negotiating a CVA. Link to comment Share on other sites More sharing options...
Chester™ Posted August 12, 2013 Share Posted August 12, 2013 its with Ukio b they own tynie so its them that we realy need to please with this CVA Super do. That seems to be a big step then. Link to comment Share on other sites More sharing options...
ToadKiller Dog Posted August 12, 2013 Share Posted August 12, 2013 Another step in the right direction . Link to comment Share on other sites More sharing options...
jamboceej Posted August 12, 2013 Share Posted August 12, 2013 You can: http://www.bbc.co.uk...otland/21267690 You have to go through this route first: http://www.bbc.co.uk/sport/0/scotland/ Great, cheers. Link to comment Share on other sites More sharing options...
rudi Posted August 12, 2013 Share Posted August 12, 2013 Good news but why would UBIG not vote? Are they not objecting going into administration? Link to comment Share on other sites More sharing options...
rudi Posted August 12, 2013 Share Posted August 12, 2013 Let's not get too carried away yet. Ukio have not agreed a CVA, but have agreed that BDO should proceed with negotiating a CVA. Will that mean that a price has been agreed? Link to comment Share on other sites More sharing options...
HMFC-TILL-I-DIE Posted August 12, 2013 Author Share Posted August 12, 2013 Let's not get too carried away yet. Ukio have not agreed a CVA, but have agreed that BDO should proceed with negotiating a CVA. true but they have agreed that a CVA is there best option so there must be somthing in there that they like or they wouldnt have voted to go down the CVA route i know its early days but good news all the same tho surley???? Link to comment Share on other sites More sharing options...
iantjambo Posted August 12, 2013 Share Posted August 12, 2013 Christ, this has been a horrible weekend for the scoobydooers. Link to comment Share on other sites More sharing options...
The Gasman Posted August 12, 2013 Share Posted August 12, 2013 Let's not get too carried away yet. Ukio have not agreed a CVA, but have agreed that BDO should proceed with negotiating a CVA. Correct, it's really just confirmation of what's been happening anyway, good to hear, but not really changing anything. Link to comment Share on other sites More sharing options...
JAYEL Posted August 12, 2013 Share Posted August 12, 2013 Good news indeed. Hopefully the efforts of the fans to keep the club afloat has helped them make their decision. Link to comment Share on other sites More sharing options...
Gregory House M.D. Posted August 12, 2013 Share Posted August 12, 2013 Correct, it's really just confirmation of what's been happening anyway, good to hear, but not really changing anything. Well I take it as showing that Ukio's administrators believe that FoH will be able to offer an acceptable CVA Link to comment Share on other sites More sharing options...
loveofthegame Posted August 12, 2013 Share Posted August 12, 2013 Positive, but as another poster said, it is not a sign that they will accept what is on offer, just that they believe it is the way forward (which was always going to be the case). Link to comment Share on other sites More sharing options...
Jezza Posted August 12, 2013 Share Posted August 12, 2013 Great couple of days Link to comment Share on other sites More sharing options...
:shitwine: Posted August 12, 2013 Share Posted August 12, 2013 ******* massive if true. Link to comment Share on other sites More sharing options...
Brandt Posted August 12, 2013 Share Posted August 12, 2013 Good feelings all around at the moment. Pledge, pledge and pledge! Link to comment Share on other sites More sharing options...
HMFC-TILL-I-DIE Posted August 12, 2013 Author Share Posted August 12, 2013 Well I take it as showing that Ukio's administrators believe that FoH will be able to offer an acceptable CVA this is the way iam taking it...if Ukios didnt believe that they where going to get a good deal they wouldnt have voted to go down this route like i said theres soming in FOH bid that they liked other wise they would have been told where to go Link to comment Share on other sites More sharing options...
Francis Albert Posted August 12, 2013 Share Posted August 12, 2013 Are they not objecting going into administration? Someone has appealed against the appointment of the Ubig administrator - we don't know who or why. As a Ubig administrator is therefore not formally in place yet it is not surprising they haven't voted. I agree with others that Ukio's agreement to proceed with CVA discussions is hardly big news (though obviously preferable to the alternative!)and doesn't mean a price has been agreed. Also Ubig's vote in favour will be needed for a CVA to be approved. Link to comment Share on other sites More sharing options...
rudi Posted August 12, 2013 Share Posted August 12, 2013 Someone has appealed against the appointment of the Ubig administrator - we don't know who or why. As a Ubig administrator is therefore not formally in place yet it is not surprising they haven't voted. I agree with others that Ukio's agreement to proceed with CVA discussions is hardly big news (though obviously preferable to the alternative!)and doesn't mean a price has been agreed. Also Ubig's vote in favour will be needed for a CVA to be approved. Okay, ta. Link to comment Share on other sites More sharing options...
Hartley Jambo. Posted August 12, 2013 Share Posted August 12, 2013 Well I take it as showing that Ukio's administrators believe that FoH will be able to offer an acceptable CVA I'd love to think so, but think its a bit premature. Could they have said anything else, otherwise the game was over. I think it just reiterates they would prefer to go down this route, but it's still subject to an acceptable offer being agreed. Link to comment Share on other sites More sharing options...
Francis Albert Posted August 12, 2013 Share Posted August 12, 2013 this is the way iam taking it...if Ukios didnt believe that they where going to get a good deal they wouldnt have voted to go down this route like i said theres soming in FOH bid that they liked other wise they would have been told where to go On the other hand FoH may be told "you're heading in the right direction but you have a bit to go". I am not getting too carried away by the fact that Ukio have agreed to continue to consider a CVA - what was their alternative? Link to comment Share on other sites More sharing options...
Gregory House M.D. Posted August 12, 2013 Share Posted August 12, 2013 I'd love to think so, but think its a bit premature. Could they have said anything else, otherwise the game was over. I think it just reiterates they would prefer to go down this route, but it's still subject to an acceptable offer being agreed. If they thought they weren't going to get what they wanted we'd have been going into liquidation. There is no way they would drag it on and allow BDO to amass huge Administration fee's before just liquidating the club. They would do it now if they didn't believe they'd get the right price. Link to comment Share on other sites More sharing options...
Gregory House M.D. Posted August 12, 2013 Share Posted August 12, 2013 On the other hand FoH may be told "you're heading in the right direction but you have a bit to go". I am not getting too carried away by the fact that Ukio have agreed to continue to consider a CVA - what was their alternative? Liquidate the club and stop BDO's cut growing? Link to comment Share on other sites More sharing options...
Beats Posted August 12, 2013 Share Posted August 12, 2013 If they thought they weren't going to get what they wanted we'd have been going into liquidation. There is no way they would drag it on and allow BDO to amass huge Administration fee's before just liquidating the club. They would do it now if they didn't believe they'd get the right price. Pretty sure if no CVA is agreed BDO get nowt. Link to comment Share on other sites More sharing options...
Francis Albert Posted August 12, 2013 Share Posted August 12, 2013 Liquidate the club and stop BDO's cut growing? I don't believe they can liquidate the club while it is in administration - the whole point of administration is that it prevents your creditors liquidating you. I don't know what the context of this vote was but I suspect it was just a routine part of the process asking the creditors to note BDO's progress. Link to comment Share on other sites More sharing options...
Gregory House M.D. Posted August 12, 2013 Share Posted August 12, 2013 Pretty sure if no CVA is agreed BDO get nowt. Surely can't be right? Link to comment Share on other sites More sharing options...
Francis Albert Posted August 12, 2013 Share Posted August 12, 2013 Pretty sure if no CVA is agreed BDO get nowt. They will, like Duff and Phelps with Rangers, be paid from the proceeds of liquidation. Link to comment Share on other sites More sharing options...
Gregory House M.D. Posted August 12, 2013 Share Posted August 12, 2013 I don't believe they can liquidate the club while it is in administration - the whole point of administration is that it prevents your creditors liquidating you. I don't know what the context of this vote was but I suspect it was just a routine part of the process asking the creditors to note BDO's progress. If they said they wouldn't agree a CVA the administrators would be left no choice. Link to comment Share on other sites More sharing options...
Clerry Jambo Posted August 12, 2013 Share Posted August 12, 2013 Strange that this news hasn't reached the mega mega mega thread on losers.net, normally they're on the ball......NOT Link to comment Share on other sites More sharing options...
Don Dan Posted August 12, 2013 Share Posted August 12, 2013 Step by Step. Never mind this Tick Tock crap from the Hobbits. It's a slow process but I feel we will get there. Link to comment Share on other sites More sharing options...
Francis Albert Posted August 12, 2013 Share Posted August 12, 2013 If they said they wouldn't agree a CVA the administrators would be left no choice. The process would proceed until a formal vote on a CVA proposal was held. They can't move to liquidate us now - that is whole the point of administration! Agreed if they told BDO there were no circumstances they would vote for a CVA that might speed the process up, but I think celebrating the fact they haven't done so is a bit desperate TBH. Link to comment Share on other sites More sharing options...
Barney Rubble Posted August 12, 2013 Share Posted August 12, 2013 Excellent , cant wait to inform my hobo colleagues tomorrow ( i might embellish it a little to maximise the agony for them ) . Link to comment Share on other sites More sharing options...
Hartley Jambo. Posted August 12, 2013 Share Posted August 12, 2013 If they thought they weren't going to get what they wanted we'd have been going into liquidation. There is no way they would drag it on and allow BDO to amass huge Administration fee's before just liquidating the club. They would do it now if they didn't believe they'd get the right price. Today was the creditors meeting I think, they had to say something either way because of that. If the creditor meeting hadn't happened then I don't think you would have heard anything from them IMO. I don't think it changes any thing in the big picture, just keeps the admin process proceeding as is. They are already on record as saying a CVA and keeping the club as a going concern is their preferred option. I don't think today is new news or changes the ongoing negotiation process. The previous CVA package was rejected, another one needs to be submitted for review. Link to comment Share on other sites More sharing options...
Hibs Nil Posted August 12, 2013 Share Posted August 12, 2013 Someone has appealed against the appointment of the Ubig administrator - we don't know who or why. Thrashing Bob? Mikey? Link to comment Share on other sites More sharing options...
Beats Posted August 12, 2013 Share Posted August 12, 2013 They will, like Duff and Phelps with Rangers, be paid from the proceeds of liquidation. Fair enough. Must have imagined that being said. Link to comment Share on other sites More sharing options...
Francis Albert Posted August 12, 2013 Share Posted August 12, 2013 Today was the creditors meeting I think, they had to say something either way because of that. If the creditor meeting hadn't happened then I don't think you would have heard anything from them IMO. I don't think it changes any thing in the big picture, just keeps the admin process proceeding as is. They are already on record as saying a CVA and keeping the club as a going concern is their preferred option. I don't think today is new news or changes the ongoing negotiation process. Yes. It would be interesting to know what exactly the creditors were voting on. I suspect something like "to accept BDO's interim report and note the intention to proceed towards making a CVA proposal". I doubt BDO gave them the opportunity to vote for liquidation! Link to comment Share on other sites More sharing options...
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