Share Transfers Agreed/Cooling off period

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

Are they certain to even get a points deduction next season?

Or will that be another decision "bottled"?

If they, or UBIG, go into administration or liquidation, yes.

[21.05.2016]

This quote is hidden because you are ignoring this member. Show Quote

Well I've just walked past slim castle and there are folk blasting their car horns in delight at this... Jokers I think they now believe that's it all is Rosie again.

Good. If this adds more fuel to their "everything is fabulous" fantasy world then thats good as far as i'm concerned. The more the muppets deluded themselves, the harder reality will hit them. Hearts WILL suffer. Yes, their SPL status has been saved by the skin of their teeth but justice will be served, they will not emerge from this unscathed.


Enjoy it for now jambos

[Saorsa]

This quote is hidden because you are ignoring this member. Show Quote

For those seething with outrage that they apparently haven't been punished, please arm yourself with the facts before bursting any more blood vessels.

Until a court appoints an administrator. The parent company UBIG are not as yet in administration.

Administration and likely liquidation WILL follow soon, it's now just a formality.

The liquidators will want something for the 79% of Hearts shares owned by UBIG.

Also the stadium is in serious danger, not to mention the tens of millions in debt owed to UBIG which the liquidators are hardly going to walk away from.

Today alters nothing. They're ****ed.

I'm well aware they're still donald ducked, I just want tae see them hammered with everything possible before they go pop.

[Treadstone]

This quote is hidden because you are ignoring this member. Show Quote

i tried to read it one day, got about 14 posts in on the first page and was bored to tears. if i had the time which i dont i could trawl through the entire thing and come up with a few belting quotes from folks that claim to be in the "know"

being honest its one of the biggest weeks in our clubs history and all folk are banging on about is hearts. give it up and get behind your own team.

i couldnt give a toss what happens to them.

Is someone forcing you to read the thread and post on it ?

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

Ah, CWG, you're back. Refreshed and ready for a summertime frenzy of financial fun at the PBS, I presume?

It's becoming an annual event, this close-season stuff. Beats the crap on telly

[poolman]

This quote is hidden because you are ignoring this member. Show Quote

Please close this thread. It's gone on long enough and it's clear they aren't going down. In fact they will dodge admin if a owner is comes in soon and gets the club for sweets.

Simple thing is not to read it if you don't want to

I want to read it

[Andy74]

This quote is hidden because you are ignoring this member. Show Quote

For those seething with outrage that they apparently haven't been punished, please arm yourself with the facts before bursting any more blood vessels.

Until a court appoints an administrator. The parent company UBIG are not as yet in administration.

Administration and likely liquidation WILL follow soon, it's now just a formality.

The liquidators will want something for the 79% of Hearts shares owned by UBIG.

Also the stadium is in serious danger, not to mention the tens of millions in debt owed to UBIG which the liquidators are hardly going to walk away from.

Today alters nothing. They're ****ed.

I know, but it would have been good fun adding immediate relegation to the list.

[East Stander]

This news is dissappointing, although they may end up still getting a 15 point deduction next season I really cannot see this making much of a difference. We all expect them to have a really poor team but reality is they are unlikely to pay wages that are less than the other clubs apart from Celtic, Aberdeen & us, ultimately they will be able to sign better players than the likes of Partick, St.Mirren, Kilmarnock etc and the 15 points will be recouped. Yes, the huge sums they are due could be an issue but I have no doubt they will squirm a way out of this.

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

This news is dissappointing, although they may end up still getting a 15 point deduction next season I really cannot see this making much of a difference. We all expect them to have a really poor team but reality is they are unlikely to pay wages that are less than the other clubs apart from Celtic, Aberdeen & us, ultimately they will be able to sign better players than the likes of Partick, St.Mirren, Kilmarnock etc and the 15 points will be recouped. Yes, the huge sums they are due could be an issue but I have no doubt they will squirm a way out of this.

How will they do that with no money?

And what are they going to do when the UBIG administrator knocks on their door?

[Jones28]

Delaying the inevitable. Not that I care, us Hibbies have got better things to think about this week

[Cropley10]

Correct decision by SPL.

However WHEN insolvency is confirmed then they will start next season -15 points.

They will then have a season of real frustration and almost certainly go down.

They will then have to get out of SFL1 at the same time as the Hun.

Death by a thousand cuts.

[Gus Fring]

Another text "They were told this was the only option by the lawyers, they were told anything else would have been overturned quickly in court"

I should state, this person works at Hampden and is reasonably high up. Can't say who for obvious reasons. I'll also state that I rarely believe this "I've got a source" nonsense when it's posted but it's not something I can prove.

[Twa Cairpets]

This quote is hidden because you are ignoring this member. Show Quote

This news is dissappointing, although they may end up still getting a 15 point deduction next season I really cannot see this making much of a difference. We all expect them to have a really poor team but reality is they are unlikely to pay wages that are less than the other clubs apart from Celtic, Aberdeen & us, ultimately they will be able to sign better players than the likes of Partick, St.Mirren, Kilmarnock etc and the 15 points will be recouped. Yes, the huge sums they are due could be an issue but I have no doubt they will squirm a way out of this.

And you base this on....?
Wages are paid on (or not, as the case may be) on the basis of what your budget is. Even the brightest outlook for Hearts leaves them with a hugely reduced available wage bill.

Why are so many on this thread now turning incontinent?

Hearts are dead, they just don't know it yet.

[brydekirk]

This quote is hidden because you are ignoring this member. Show Quote

Can I be the first to say (and not mean it) that I'll not be back.

Can I be first to say, why take it out on hibs ?

[Stevie Reid]

This quote is hidden because you are ignoring this member. Show Quote

This news is dissappointing, although they may end up still getting a 15 point deduction next season I really cannot see this making much of a difference. We all expect them to have a really poor team but reality is they are unlikely to pay wages that are less than the other clubs apart from Celtic, Aberdeen & us, ultimately they will be able to sign better players than the likes of Partick, St.Mirren, Kilmarnock etc and the 15 points will be recouped. Yes, the huge sums they are due could be an issue but I have no doubt they will squirm a way out of this.

This season Hearts only managed to finish 14 points clear of a Dundee team that finished 24 points behind the actual First Division champions, and only found out that they would be playing in the SPL ridiculously late on in the close season.

Partick Thistle are coming up as champions of a very competitive 2012-13 First Division (with only one point less than Ross County had last year), and Hearts are most likely to have a much weaker playing squad than this season. Starting with minus 15 points, if it happens, will leave them a mammoth task to stay up.

[weonlywon6-2]

Todays outcome is only delaying the inevitable.they are still have ahuge financial problem which will come and bite them on the ass

[HFC 0-7]

This quote is hidden because you are ignoring this member. Show Quote

Jamie Borthwick has his eye on the ball

Jamie Borthwick @jamiekborthwick
Interesting bit of precedence from Feb last year. SPL confirmed no 'sporting sanctions' until court appointed administrators to Rangers.

Jamie Borthwick @jamiekborthwick
"A notice of the intention to appoint administrators alone does not trigger the sporting sanctions..."

Jamie Borthwick @jamiekborthwick
"...it is the actual appointment of administrators which does."

This is not over and anyone who thinks it is, is kidding themselves. Once something actually happens at UBIG the SPL will​ be right back on this

his second tweet is not correct. Apparently a notice to appoint administrators is enough according to the rules.]

the lodging of a Notice of Intention to Appoint an
Administrator or Notice of Appointment of an
Administrator at the Court in accordance with paragraph
29 of Schedule B1 to the Insolvency Act,

[Boyle89]

What a farce. UBIG ask to be placed on the insolvency list but the SPL say they aren't. Seriously jst die already!

[Treadstone]

This quote is hidden because you are ignoring this member. Show Quote

Another text "They were told this was the only option by the lawyers, they were told anything else would have been overturned quickly in court"

I should state, this person works at Hampden and is reasonably high up. Can't say who for obvious reasons. I'll also state that I rarely believe this "I've got a source" nonsense when it's posted but it's not something I can prove.

Tell us what they had with their cuppas.

[Part/Time Supporter]

This quote is hidden because you are ignoring this member. Show Quote

Another text "They were told this was the only option by the lawyers, they were told anything else would have been overturned quickly in court"

I should state, this person works at Hampden and is reasonably high up. Can't say who for obvious reasons. I'll also state that I rarely believe this "I've got a source" nonsense when it's posted but it's not something I can prove.

Fair enough (both points).

I'm concerned that they may not have considered the "is UBIG actually a group undertaking of HMFC?" issue yet. As the legal advice may have just focused on the issue of whether UBIG's declaration amounted to an insolvency event, and not got past that point when they decided it didn't.

[Part/Time Supporter]

This quote is hidden because you are ignoring this member. Show Quote

his second tweet is not correct. Apparently a notice to appoint administrators is enough according to the rules.]

the lodging of a Notice of Intention to Appoint an
Administrator or Notice of Appointment of an
Administrator at the Court in accordance with paragraph
29 of Schedule B1 to the Insolvency Act,

You're misunderstanding that rule. In Scotland, the only way to express a notice of intention to appoint an administrator is to make a court filing. UBIG haven't done that - they have made a filing with a Lithuanian Govt. department.

[Gus Fring]

This quote is hidden because you are ignoring this member. Show Quote

his second tweet is not correct. Apparently a notice to appoint administrators is enough according to the rules.]

the lodging of a Notice of Intention to Appoint an
Administrator or Notice of Appointment of an
Administrator at the Court in accordance with paragraph
29 of Schedule B1 to the Insolvency Act,

I believe that a "Notice of Intention to Appoint an Administrator" is a document that needs to be filed as part of the process in the UK but the equivelant hasn't been done in UBIG's case yet?

Could be wrong, I'm sure CavershamGreen or CWG will clarify

[Hermit Crab]

This quote is hidden because you are ignoring this member. Show Quote

Correct decision by SPL.

However WHEN insolvency is confirmed then they will start next season -15 points.

They will then have a season of real frustration and almost certainly go down.

They will then have to get out of SFL1 at the same time as the Hun.

Death by a thousand cuts.

You are if course assuming der Hun will win division 2

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

I believe that a "Notice of Intention to Appoint an Administrator" is a document that needs to be filed as part of the process in the UK but the equivelant hasn't been done in UBIG's case yet?

Could be wrong, I'm sure CavershamGreen or CWG will clarify

Think PTS already has.

That said, I am not clued up on the Lith equivalent. My guess is that the legal advice to the SPL is that it hasn't been, therefore there is no "event" yet.

[HibeeMG]

This quote is hidden because you are ignoring this member. Show Quote

I believe that a "Notice of Intention to Appoint an Administrator" is a document that needs to be filed as part of the process in the UK but the equivelant hasn't been done in UBIG's case yet?

Could be wrong, I'm sure CavershamGreen or CWG will clarify

Even so, surely somebody at UBIG had to apply to put themselves on that list.

I'm just playing devils advocate as I actually think the right decision was made. It will also turn out to be the more painful process for them too.

[blackpoolhibs]

This quote is hidden because you are ignoring this member. Show Quote

Can I be first to say, why take it out on hibs ?

Can i be first to say WHOOSH.

[MacBean]

This quote is hidden because you are ignoring this member. Show Quote

Fair enough (both points).

I'm concerned that they may not have considered the "is UBIG actually a group undertaking of HMFC?" issue yet. As the legal advice may have just focused on the issue of whether UBIG's declaration amounted to an insolvency event, and not got past that point when they decided it didn't.

The BBC quotes seem to point that they have ruled that if UBIG do go under then Hearts will suffer - sorry cant post a link.

[Treadstone]

This quote is hidden because you are ignoring this member. Show Quote

Can i be first to say WHOOSH.

[Part/Time Supporter]

This quote is hidden because you are ignoring this member. Show Quote

The BBC quotes seem to point that they have ruled that if UBIG do go under then Hearts will suffer - sorry cant post a link.

That's more than likely to be the case, but HMFC would no doubt still argue against it.

[GreenCastle]

Would have been very funny if they had been put down.

However the next few weeks / months / season are going to be very interesting to see where this all leads - as there is still no clear solution to the massive money problems they have and something is going to seriously give soon - I feel that will be a points deduction at the start of next season that gives all the 11 other clubs a big advantage right from the start and the yams playing catch up.

As as previous poster pointed out - going down would have brought about the siege mentality and longer term may have made them stronger.

Now they are going slowly deteriorate both on and off the pitch and allows us to hopefully beat them a few more times before they completely run dry next year with no Cup Final money etc / Europe money and exiting players fees.

The interesting this is going to be if it all goes wrong before the start of the season or mid season - how that's going to look on the SPL and those in charge.