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  1. #61
    Coaching Staff Craig_in_Prague's Avatar
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    Quote Originally Posted by SingHibs View Post
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    The Lithuanian state were the effective creditor. If Hearts were wound up only real asset was the ground. The ground would be pretty worthless without building permission. Edinburgh establishment had closed ranks to make that building permission difficult to obtain. The Lithuanians would rather take 4 million than gamble on getting the ground and not being able to sell it because of a lack of building permission.
    you sure it was 4M ? could be right, I always thought it was more like 1.5 - 2M.

    Shame they never had the balls to fight the process and take the risk of the asset (ground) instead.


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  3. #62
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    Quote Originally Posted by jacomo View Post
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    Absolutely no comparison.

    Where are the creditors banging down our door? Who was due money from Hibs but didn't get it? When did we spend cash we didn't have and deliberately avoid our bills?

    HMFC is tarnished and will be for a long time. They were on their knees before Vlad because of reckless overspending.
    And when did we use that cash to field players that were way, way above our historic level ?. I also don't recall us calling ourselves a 'Big team' or us suddenly becoming 'Famous' ??

  4. #63
    @hibs.net private member jacomo's Avatar
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    Quote Originally Posted by Deansy View Post
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    And when did we use that cash to field players that were way, way above our historic level ?. I also don't recall us calling ourselves a 'Big team' or us suddenly becoming 'Famous' ??

    I've no problem with any club having ambition. I don't think we should all just know our place and never aim higher.

    But - here's the crucial bit - don't make anyone else pay for it. Hibs got into massive debt around 2002/2003, up to c.£18m, just like Hearts. But we cut our cloth and suffered, while they carried on as if the world owed them something.

    They can stick their 5-1. Our cup wins aren't tainted by cheating.

  5. #64
    @hibs.net private member sleeping giant's Avatar
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    They also signed Beattie on the Friday , he scored in the semi and they couldn't pay the players wages the following week.

    Brutal club.
    They know it too.
    No Eternal Reward Shall Forgive Us Now For Wasting The Dawn

  6. #65
    First Team Breakthrough since90plustwo's Avatar
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    Interesting they owed key sports management £23,000. This is the football agency John Colquhoun founded and had a number of players on his books from hearts.

  7. #66
    Quote Originally Posted by EastCoastHibs View Post
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    Interesting they owed key sports management £23,000. This is the football agency John Colquhoun founded and had a number of players on his books from hearts.
    He's getting his money back now.!

  8. #67
    Coaching Staff Craig_in_Prague's Avatar
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    Quote Originally Posted by sleeping giant View Post
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    They also signed Beattie on the Friday , he scored in the semi and they couldn't pay the players wages the following week.

    Brutal club.
    They know it too.
    Would have to disagree.

    Spoke to many Yams over the last few years; they don't get it, at all (even the more intelligent ones - and yes, they exist).

  9. #68
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    Quote Originally Posted by Craig_in_Prague View Post
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    Would have to disagree.

    Spoke to many Yams over the last few years; they don't get it, at all (even the more intelligent ones - and yes, they exist).
    I work beside a very intelligent hearts fan - he claims Budge repaid all the debt.

  10. #69
    @hibs.net private member Jack Hackett's Avatar
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    Quote Originally Posted by sleeping giant View Post
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    They also signed Beattie on the Friday , he scored in the semi and they couldn't pay the players wages the following week.

    Brutal club.
    They know it too.
    I'm of the opinion that they paid Beattie his whole contract up-front in readies. Anyone with half a brain would have insisted on that, considering how widely known their financial problems were at that time.

  11. #70
    Coaching Staff Craig_in_Prague's Avatar
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    Quote Originally Posted by Danderhall Hibs View Post
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    I work beside a very intelligent hearts fan - he claims Budge repaid all the debt.
    "all the debt" lol
    ask him to elaborate!

    they had to pay their footballing debts as part of the process, but that was rather small compared to the overall debt they had.

    HMRC - 1.9M - shafted
    Heriot Watt - probably shafted for 150k
    Council, 91k
    their OWN charities, shafted

    and well, 1.5/2m settlement of huge debts to Lithuania - they should be humbled and ashamed, forever.

    yet they still pipe up every time hibs loan a player! as if that's cheating! paying a club for a player as per agreed terms!!

  12. #71
    First Team Regular EastCalderHibby's Avatar
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    Quote Originally Posted by Deansy View Post
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    And when did we use that cash to field players that were way, way above our historic level ?. I also don't recall us calling ourselves a 'Big team' or us suddenly becoming 'Famous' ??
    but they are famous........................ just not anything yuo would want to shout about.............**** OF THE EARTH

  13. #72
    @hibs.net private member GreenLake's Avatar
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    Quote Originally Posted by Craig_in_Prague View Post
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    you sure it was 4M ? could be right, I always thought it was more like 1.5 - 2M.

    Shame they never had the balls to fight the process and take the risk of the asset (ground) instead.
    I thought that too, where did this 4m figure come from?

  14. #73
    After it was pointed out to Hearts fans that as far as the creditors were concerned, there was no difference between Hearts and Rangers (i.e. they got screwed) a thread was started on Kickback in which it was agreed that as soon as the dust settled, the fans would all get together and pay off the smaller creditors. This, they explained, was what set them apart from rangers fans. There were pats on the back all round, the word integrity was was overused and the thread quietly died away.

    Since they are now handing over cash for the new stand, players wages, etc. I can only assume that they have already paid off the creditors. Probably don't like to boast about it.

  15. #74
    @hibs.net private member Kato's Avatar
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    Quote Originally Posted by Mellow Hibee View Post
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    After it was pointed out to Hearts fans that as far as the creditors were concerned, there was no difference between Hearts and Rangers (i.e. they got screwed) a thread was started on Kickback in which it was agreed that as soon as the dust settled, the fans would all get together and pay off the smaller creditors. This, they explained, was what set them apart from rangers fans. There were pats on the back all round, the word integrity was was overused and the thread quietly died away.

    Since they are now handing over cash for the new stand, players wages, etc. I can only assume that they have already paid off the creditors. Probably don't like to boast about it.
    Can the thread be bumped?

  16. #75
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    Quote Originally Posted by SingHibs View Post
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    And of course the £70m they bumped the Lithuanians for if you count all the debt for equity and debt forgiveness schemes Romanov came up with. The money came from the investment company who borrowed from Ukio Bankas bank who were bailed out by the Lithuanian state or in other words the Lithuanian people.
    This reply was the reason for my:

    People in Glass Houses Quote.

    If it is terrible to rip off Lithuanian people, surely it is worse to be ripping off Scottish people.

    The Bank of Scotland is a Scottish Bank therefore the Scottish people?????

    If I'm wrong I apologise unreservedly!

  17. #76
    @hibs.net private member Mr White's Avatar
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    Quote Originally Posted by where'stheslope View Post
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    This reply was the reason for my:

    People in Glass Houses Quote.

    If it is terrible to rip off Lithuanian people, surely it is worse to be ripping off Scottish people.

    The Bank of Scotland is a Scottish Bank therefore the Scottish people?????

    If I'm wrong I apologise unreservedly!
    Ok then I'll bite. How much did HBoS lose from hibs and in what way were any people ripped off, regardless of their nationality?

    My answer would be nothing as they agreed to a modest discount on a long term mortgage in return for early re-payment.

    In hearts situation, their debt to Lithuanian institutions was left unpaid save for £2.5m in the CVA (so after default on the outstanding amount) out of more than £60m if my understanding is correct (£28m debt at time of administration plus the debt forgiveness and equity swaps)

    To attempt to compare the 2 situations is frankly laughable.
    Last edited by Mr White; 29-03-2017 at 07:02 PM.

  18. #77
    @hibs.net private member Bostonhibby's Avatar
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    Quote Originally Posted by Mr White View Post
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    Ok then I'll bite. How much did HBoS lose from hibs and in what way were any people ripped off, regardless of their nationality?

    My answer would be nothing as they agreed to a modest discount on a long term mortgage in return for early re-payment.

    In hearts situation, their debt to Lithuanian institutions was left unpaid save for £2.5m in the CVA (so after default on the outstanding amount) out of more than £60m if my understanding is correct (£28m debt at time of administration plus the debt forgiveness and equity swaps)

    To attempt to compare the 2 situations is frankly laughable.
    Oh the irony, mercer's takeover attempts were substantially backed by bank of Scotland money.

    Was never going to be his own and hearts only had debts themselves in those days.

    "I did not need any persuasion to play for such a great club, the Hibs result is still one of the first I look for"

    Sir Matt Busby

  19. #78
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    Quote Originally Posted by where'stheslope View Post
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    This reply was the reason for my:

    People in Glass Houses Quote.

    If it is terrible to rip off Lithuanian people, surely it is worse to be ripping off Scottish people.

    The Bank of Scotland is a Scottish Bank therefore the Scottish people?????

    If I'm wrong I apologise unreservedly!
    I think you need to be specific about what it is you think Hibs did wrong. I think you are speculating and stirring an empty pot. There is so much wrong with your argument it is impossible to know where to start. But you go on believing that Hibs did something underhanded, you're entitled.

  20. #79
    @hibs.net private member Kato's Avatar
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    Quote Originally Posted by where'stheslope View Post
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    This reply was the reason for my:

    People in Glass Houses Quote.

    If it is terrible to rip off Lithuanian people, surely it is worse to be ripping off Scottish people.

    The Bank of Scotland is a Scottish Bank therefore the Scottish people?????

    If I'm wrong I apologise unreservedly!
    Surely it's just poor to rip people off? Their were plenty Scottish people ripped off, knowingly, by Hearts and Bosnian people and Lithuanian people and more nationalities to boot.

    Hibs had debt mostly in the form of mortgages. Do you have a mortgage? If so and you want to strike a deal with your lender go along and ask them what lump sum they'd be willing to accept. They will strike a deal with you and you'd end up paying less than you would have if you'd allowed the mortgage to run it's full term. The Bank of Scotland is owned by the Lloyds Group btw and is as Scottish as Scotch Tape.

    Your attitude smells btw, like this http://ask.metafilter.com/83906/Brewing-up-a-stink

  21. #80
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by where'stheslope View Post
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    This reply was the reason for my:

    People in Glass Houses Quote.

    If it is terrible to rip off Lithuanian people, surely it is worse to be ripping off Scottish people.

    The Bank of Scotland is a Scottish Bank therefore the Scottish people?????

    If I'm wrong I apologise unreservedly!
    The Bank of Scotland is hardly owned by the Scottish people.

    The bank made a conscious commercial decision to come to an arrangement with Hibs and STF. That's no rip off in my book.

    Sent from my SM-A510F using Tapatalk

  22. #81
    @hibs.net private member jacomo's Avatar
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    Quote Originally Posted by where'stheslope View Post
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    This reply was the reason for my:

    People in Glass Houses Quote.

    If it is terrible to rip off Lithuanian people, surely it is worse to be ripping off Scottish people.

    The Bank of Scotland is a Scottish Bank therefore the Scottish people?????

    If I'm wrong I apologise unreservedly!

    You are talking absolute pony, I'm afraid.

  23. #82
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    Quote Originally Posted by Mr White View Post
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    Ok then I'll bite. How much did HBoS lose from hibs and in what way were any people ripped off, regardless of their nationality?

    My answer would be nothing as they agreed to a modest discount on a long term mortgage in return for early re-payment.

    In hearts situation, their debt to Lithuanian institutions was left unpaid save for £2.5m in the CVA (so after default on the outstanding amount) out of more than £60m if my understanding is correct (£28m debt at time of administration plus the debt forgiveness and equity swaps)

    To attempt to compare the 2 situations is frankly laughable.
    Did the Lithuanians not agree to the CVA?

    Plus my only gripe with the statement was the fact it was bad for Lithuanians to lose money, but OK for Scots!

    I was not in any way comparing one against the other it was based on Nationality!

  24. #83
    @hibs.net private member Mr White's Avatar
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    Quote Originally Posted by where'stheslope View Post
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    Did the Lithuanians not agree to the CVA?

    Plus my only gripe with the statement was the fact it was bad for Lithuanians to lose money, but OK for Scots!

    I was not in any way comparing one against the other it was based on Nationality!
    They agreed to a CVA yes: so pennies in the pound after default. Nobody suggested their nationality made it better or worse, just that the bulk of the bumped debt was theirs to live with.

    You're at it if you're now trying to claim you weren't comparing the situations. Glass houses?

    Mind you having read through some of your other posts both tonight and in recent times, you're quite clearly at it.

  25. #84
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by where'stheslope View Post
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    Did the Lithuanians not agree to the CVA?

    Plus my only gripe with the statement was the fact it was bad for Lithuanians to lose money, but OK for Scots!

    I was not in any way comparing one against the other it was based on Nationality!
    Again.

    The Bank of Scotland is not "the Scottish people".

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  26. #85
    @hibs.net private member Kato's Avatar
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    Quote Originally Posted by where'stheslope View Post
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    Did the Lithuanians not agree to the CVA?

    Plus my only gripe with the statement was the fact it was bad for Lithuanians to lose money, but OK for Scots!

    I was not in any way comparing one against the other it was based on Nationality!

    Did Scots not lose out via Hearts tax scam when they were "loaning" players via Kaunas?

    Anyway which Scots lost out from the deal Hibs did with the Bank of Scotland?

  27. #86
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    Quote Originally Posted by Mr White View Post
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    They agreed to a CVA yes: so pennies in the pound after default. Nobody suggested their nationality made it better or worse, just that the bulk of the bumped debt was theirs to live with.

    You're at it if you're now trying to claim you weren't comparing the situations. Glass houses?

    Mind you having read through some of your other posts both tonight and in recent times, you're quite clearly at it.
    Not quite sure what your trying to say?

    I was only expressing an opinion!

  28. #87
    @hibs.net private member CropleyWasGod's Avatar
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    Quote Originally Posted by where'stheslope View Post
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    Not quite sure what your trying to say?

    I was only expressing an opinion!
    Opinions should be based on facts and evidence.

    The facts of the 2 situations are very different.

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  29. #88
    @hibs.net private member Mr White's Avatar
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    Quote Originally Posted by where'stheslope View Post
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    Not quite sure what your trying to say?

    I was only expressing an opinion!
    I'm saying you're trolling this site for a reaction. I'm not saying you're not a hibs fan, but your original point coupled with the subsequent back-tracking tells it's own story.

  30. #89
    @hibs.net private member Kato's Avatar
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    Quote Originally Posted by where'stheslope View Post
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    Not quite sure what your trying to say?

    Seems like you're not sure what you are trying to say.

  31. #90
    Quote Originally Posted by where'stheslope View Post
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    This reply was the reason for my:

    People in Glass Houses Quote.

    If it is terrible to rip off Lithuanian people, surely it is worse to be ripping off Scottish people.

    The Bank of Scotland is a Scottish Bank therefore the Scottish people?????

    If I'm wrong I apologise unreservedly!
    You're wrong. Nobody was ripped off. All money that Hibs/STF owed the BoS was paid back. The bit where the "deal" was done was on the interest payments that BoS could have expected to recieve as income had the contracts run their full term. By paying the loans of early BoS were potentially losing out on the interest they would have made, but balaced by the fact they have their money back.

    Like others, I don't know where you are going with this?

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