Share Transfers Agreed/Cooling off period

[Keith_M]

Bit of a misnomer here, technically should be MM. Mainstream media.:wink:


Oh, OK, it was that simple.


Thanks :greengrin

[Mr White]

Bit of a misnomer here, technically should be MM. Mainstream media.:wink:

Did it not start out as Mainstream Scottish Media last summer during the death throes of the currant buns?

[joe breezy]

Sorry to be a dimwit but...what does MSM stand for?




:greengrin

Moneyless Scoundrels Marooned

[Sanger]

http://www.insolvencynews.com/article/15461/corporate/hearts-administration-update

An article from Insolvency News ( top shelf mag. for some posters on here :greengrin )


Last paragraph is interesting.

" Ukio Bankas ........ will only accept an offer for the Club and stadium that meets its valuation of the Land. "

I wonder if the land valuation could be the £ 6,800,000 which the Bank has security for and the Liths have seen all this coming at the end of last year.

As for the £ 255.68 p thats maybe for their history !

That's the key here. Nobody is coming close to an offer in the CVA that meets the value of the land. Quickly move to liquidation do not pass go!

[Billy Whizz]

That's the key here. Nobody is coming close to an offer in the CVA that meets the value of the land. Quickly move to liquidation do not pass go!

Hence the reason Hibs aren't selling derby tickets yet

[jacomo]

That's the key here. Nobody is coming close to an offer in the CVA that meets the value of the land. Quickly move to liquidation do not pass go!

Still confidently predicting this by Thursday or Friday this week?

[Billy Whizz]

Still confidently predicting this by Thursday or Friday this week?

Lets make sure Thursday/Friday is a joint celebration for Hibs. Qualification against Malmo and Hearts going pop

[Andy74]

That's the key here. Nobody is coming close to an offer in the CVA that meets the value of the land. Quickly move to liquidation do not pass go!

If that was going to be the case would they not just have decided that when they saw the value of the bids the other week instead of moving on to the see the colour of the money?

[Sanger]

Hence the reason Hibs aren't selling derby tickets yet

We''ll cerainly get a clear steer from BDO preparing the ground letting them down gently. They don't want mass crying again a la Dens!


If that was going to be the case would they not just have decided that when they saw the value of the bids the other week instead of moving on to the see the colour of the money?

Think the Massone bid is almost acceptable to them but of course they have to sell the club as a going concern. If he can show concretely how he is going to fund club then he is the preferred bidder. But this is unlikely as well the fit person stuff. So it is over to liquidation.

[Treadstone]

Did it not start out as Mainstream Scottish Media last summer during the death throes of the currant buns?

Possible, i also seen it described as SMSM. Mind you that was from Celtic fans. Look how they spell Celtc

http://img383.imageshack.us/img383/5981/celtcao2.jpg

[Fat Penlon]

Someone better get a move on and sort this mess out! The fixture list pullouts are being printed in this weekends papers. A total waste if they are all wrong. SPFL are making a rod for their own back by not sorting this out sooner.

[jacomo]

Possible, i also seen it described as SMSM. Mind you that was from Celtic fans. Look how they spell Celtc

http://img383.imageshack.us/img383/5981/celtcao2.jpg

That display is both loathsome and funny in equal measure. Celtc - never as classy as they'd have you believe.

[therealgavmac]

Someone better get a move on and sort this mess out! The fixture list pullouts are being printed in this weekends papers. A total waste if they are all wrong. SPFL are making a rod for their own back by not sorting this out sooner.

:faf:

[HFC 0-7]

That's the key here. Nobody is coming close to an offer in the CVA that meets the value of the land. Quickly move to liquidation do not pass go!

just because the CVA doesnt amount to the value of security doesnt mean liquidation, I could see FOH looking to seperate the club from stadium, sell stadium to satisfy the secured creditor then go for a CVA for the rest of the club.

[Bostonhibby]

That display is both loathsome and funny in equal measure. Celtc - never as classy as they'd have you believe.

Thread hijack but what the hell I will have a go same as last time this legendary banner came up.

"celtc, as good at litricy as we are at dentastry"

[Sanger]

just because the CVA doesnt amount to the value of security doesnt mean liquidation, I could see FOH looking to seperate the club from stadium, sell stadium to satisfy the secured creditor then go for a CVA for the rest of the club.
Rest of club worth sweet FA and then where do they play? Suppose rent somewhere. It's a strategy I have suggested on here earlier. But the renting and leaving Tynie possibly a bridge to far for FOH.

[HFC 0-7]

Rest of club worth sweet FA and then where do they play? Suppose rent somewhere. It's a strategy I have suggested on here earlier. But the renting and leaving Tynie possibly a bridge to far for FOH.

I think the hoardes would go for the selling of tynie seperately from the club if it meant a CVA was possible and staying in the top flight rather than the newco route. IMO a CVA in that instance would probably go through as liquidation without Tynie wouldnt produce much money. I suppose it all comes down to whether they can propose a CVA to UBIG given everything is frozen and whether Ukio would accept the CVA for the remainder of their debt that isnt secured and make an example of them.

[Kato]

I think the Hearts fans deserve some credit recently. The quiet, dignified manner at which they have protested against, amongst other things, being lied to by David Southern about a share issue scam, seeing one of their hero's being duped into fronting said scam, being urged by David Southern to buy, probably, worthless season tickets hours before they went into administration, being lied to by David Southern re their financial status as being "self-suffcient" and being lied to by a local journalist re claims of a million being handed over by their main sponsor. They have protested against these things, haven't they?

[Sanger]

I think the hoardes would go for the selling of tynie seperately from the club if it meant a CVA was possible and staying in the top flight rather than the newco route. IMO a CVA in that instance would probably go through as liquidation without Tynie wouldnt produce much money. I suppose it all comes down to whether they can propose a CVA to UBIG given everything is frozen and whether Ukio would accept the CVA for the remainder of their debt that isnt secured and make an example of them.
The club is worthless and the FOH and Bob's bid are essentially for the Stadium. FOH plans are to stay there and Bob wants to sell and use the proceeds to part fund a new stadium. I don't think the selling the stadium and giving the money to Ukio/UBIG is in their plans.

[clerriehibs]

We''ll cerainly get a clear steer from BDO preparing the ground letting them down gently. They don't want mass crying again a la Dens!



Think the Massone bid is almost acceptable to them but of course they have to sell the club as a going concern. If he can show concretely how he is going to fund club then he is the preferred bidder. But this is unlikely as well the fit person stuff. So it is over to liquidation.

Surely it's not good enough for the creditors to agree a CVA though

[The Falcon]

A few minor corrections.:greengrin

UKIO have a fixed charge on the stadium, plus (possibly) a floating charge on the rest of the assets. UBIG also, possibly, have a floating charge on the assets.
.

Would that include £10m pound man Jason Holt?

[Just Alf]

Now that they've raided the bairns piggy banks the Yams are now trying to get the bairns to PAY to be a mascot on match days... £250-£350 a pop!

http://www.heartsfc.co.uk/articles/20130723/matchday-mascot-experience-available-to-purchase_2241384_3325696

oh ma sides!..... how low can these guys go?

:lolyam:

[Kato]

Now that they've raided the bairns piggy banks the Yams are now trying to get the bairns to PAY to be a mascot on match days... £250-£350 a pop!

http://www.heartsfc.co.uk/articles/20130723/matchday-mascot-experience-available-to-purchase_2241384_3325696

oh ma sides!..... how low can these guys go?

:lolyam:


That's low but I'm confident they won't be sticking at that.

[Twa Cairpets]

Now that they've raided the bairns piggy banks the Yams are now trying to get the bairns to PAY to be a mascot on match days... £250-£350 a pop!

http://www.heartsfc.co.uk/articles/20130723/matchday-mascot-experience-available-to-purchase_2241384_3325696

oh ma sides!..... how low can these guys go?

:lolyam:
"After considerable research..."
Meaning
"We couldn't believe how meekly you craven muppets have rolled over and allowed yourselves to be Lockeyed on time after time we thought here's another way to fleece you shamelessly"

[ancient hibee]

The club is worthless and the FOH and Bob's bid are essentially for the Stadium. FOH plans are to stay there and Bob wants to sell and use the proceeds to part fund a new stadium. I don't think the selling the stadium and giving the money to Ukio/UBIG is in their plans.


As the stadium can't be sold without the secured creditor's sayso-nothing much is going to happen then.

[JoeTortolanoFanClub]

Now that they've raided the bairns piggy banks the Yams are now trying to get the bairns to PAY to be a mascot on match days... £250-£350 a pop!

http://www.heartsfc.co.uk/articles/20130723/matchday-mascot-experience-available-to-purchase_2241384_3325696

oh ma sides!..... how low can these guys go?

:lolyam:

That will net them about £5k in total in a season. I wonder what the cost will be to their reputation. Or perhaps they are past caring. Desperate.

[weecounty hibby]

That will net them about £5k in total in a season. I wonder what the cost will be to their reputation. Or perhaps they are past caring. Desperate.
Seriously though, what reputation? The reputation for stealing money from their own charities and fans. Or the reputation for screwing UK and Lithuanian taxpayers. Or the reputation for bumping creditors both big and small. Or the reputation for repeatedly employing known sex offenders. Or the reputation for being the thickest bunch of football fans on Earth. Or the reputation for being the smuggest fans on Earth for no real reason. Or the reputation for being the most deluded fans on the planet

[hibbymac]

Now that they've raided the bairns piggy banks the Yams are now trying to get the bairns to PAY to be a mascot on match days... £250-£350 a pop!

http://www.heartsfc.co.uk/articles/20130723/matchday-mascot-experience-available-to-purchase_2241384_3325696

oh ma sides!..... how low can these guys go?

:lolyam:

Ridiculous, .... we only charge £139 :rolleyes:

[big gogs]

regarding the sale of tynecastle,once the stadium is sold and the administrators get paid from the sale,the bill must be half a million at present,,anybody hearts are owe money to will receive a smaller payment,if anything at all. I stand to be corrected on this.the only winners will be b.d.o. and us.

[Dunderhall]

I think the Hearts fans deserve some credit recently. The quiet, dignified manner at which they have protested against, amongst other things, being lied to by David Southern about a share issue scam, seeing one of their hero's being duped into fronting said scam, being urged by David Southern to buy, probably, worthless season tickets hours before they went into administration, being lied to by David Southern re their financial status as being "self-suffcient" and being lied to by a local journalist re claims of a million being handed over by their main sponsor. They have protested against these things, haven't they?
They could do well to look at the spin FoH have slowly spun them over time

Originally it started as own the club debt free, pledges go towards funding club going forward.
Club owned by the supporters etc.

A few are starting to realise now they are effectively funding the capital, under unknown conditions attached, to buy the club for someone(s) and buy it back from someone(s) unknown. Hard to imagine the loan not being secured.
After some unknown period the pledges of those remaining may go to the club as revenue.
Nobody from the board of FoH will take a salary, but nothing mentioned about the board of Hearts who are appointed by ... guess who.

All done by drip feeding in small amounts.
Transparent, really?

Hopefully none of it will matter anyway.

[brog]

Ay
I think the Hearts fans deserve some credit recently. The quiet, dignified manner at which they have protested against, amongst other things, being lied to by David Southern about a share issue scam, seeing one of their hero's being duped into fronting said scam, being urged by David Southern to buy, probably, worthless season tickets hours before they went into administration, being lied to by David Southern re their financial status as being "self-suffcient" and being lied to by a local journalist re claims of a million being handed over by their main sponsor. They have protested against these things, haven't they?

4 of us from London Hibs were out golfing today & had a very similar conversation. David Southern has, IMO, so far had an easy ride from the media & the football authorities. As you say, he presided over a fraudulent share issue, he stated Yams were self sufficient a week or 2 before they went bust & yet he has never been held accountable. Before someone comes on & tells us there's nothing SPFL can do surely a charge of bringing the game into disrepute is available as a minimum. As we Hibs fans know that action has been taken in the past for much minor misdemeanours.

[CropleyWasGod]

Ay

4 of us from London Hibs were out golfing today & had a very similar conversation. David Southern has, IMO, so far had an easy ride from the media & the football authorities. As you say, he presided over a fraudulent share issue, he stated Yams were self sufficient a week or 2 before they went bust & yet he has never been held accountable. Before someone comes on & tells us there's nothing SPFL can do surely a charge of bringing the game into disrepute is available as a minimum. As we Hibs fans know that action has been taken in the past for much minor misdemeanours.

Is DS a director? If he is, he could be held accountable for the bit in bold under the law. Even if he isn't, and he was complicit in it, he could be in trouble.

[CyberSauzee]

Ay

4 of us from London Hibs were out golfing today & had a very similar conversation. David Southern has, IMO, so far had an easy ride from the media & the football authorities. As you say, he presided over a fraudulent share issue, he stated Yams were self sufficient a week or 2 before they went bust & yet he has never been held accountable. Before someone comes on & tells us there's nothing SPFL can do surely a charge of bringing the game into disrepute is available as a minimum. As we Hibs fans know that action has been taken in the past for much minor misdemeanours.


Is DS a director? If he is, he could be held accountable for the bit in bold under the law. Even if he isn't, and he was complicit in it, he could be in trouble.

The SPFL is becoming a laughing stock by not taking any action against this farcical 'institution' and their representatives. They have lied and lied and are clearly incapable of running a club in an honest fashion. Minor leagues in England require a bond from clubs with a questionable financial record (i.e. a chance of going bust) before they take part in any league fixtures. Doncaster has just given himself a pay-rise, but does he have any intelligence to suggest to a club like Hearts that they must provide some capital up front before they even kick a ball come 3rd August?

[mutley]

What I can't understand is the yams that bought shares don't seem to care that they were ripped off.
If this had happened at ER we would probably have torn the place apart to get our shares by now.

[sidneyhibbie]

Sidney speaks now listen:not worth they are doomed its over Bye Bye Cheats my letters have assisted in their demise:aok: feel the pain yams.

[Jack]

Sidney speaks now listen:not worth they are doomed its over Bye Bye Cheats my letters have assisted in their demise:aok: feel the pain yams.

Its about time you started copying these letters up here and the replies you get.

[CyberSauzee]

Sidney speaks now listen:not worth they are doomed its over Bye Bye Cheats my letters have assisted in their demise:aok: feel the pain yams.

CyberSauzee wants to know what your tipple is tonight Sidney?

[SmashinGlass]

Sidney speaks now listen:not worth they are doomed its over Bye Bye Cheats my letters have assisted in their demise:aok: feel the pain yams.

I'm assuming you didn't heed last night's advice to put down your drink and retire?....

[HUTCHYHIBBY]

Sidney is becoming a legend in his own lunchtime!

[FranckSuzy]

Can anyone photoshop this to read 'I Love Sidney'?

10691

[Dunderhall]

What I can't understand is the yams that bought shares don't seem to care that they were ripped off.
If this had happened at ER we would probably have torn the place apart to get our shares by now.
They do, however to start kicking off would be an admission of culpability.
That isn't going to happen.
The amount of Yams with 20:20 hindsight wrt Romanov is remarkable.

[Dunderhall]

CyberSauzee wants to know what your tipple is tonight Sidney?
Dunderhall says Sidney isn't drinking this.

10692

[Hibbyradge]

He's got form.

http://images.betterworldbooks.com/116/Sidney-s-Letters-to-William-E-Channing-Whitaker-Daniel-9781168977465.jpg

http://c381946.r46.cf1.rackcdn.com/9781145468122.jpg

[Pedantic_Hibee]

We're all aware that Sidney is a Jambo on the wind-up, eh?

[Hibbyradge]

We're all aware that Sidney is a Jambo on the wind-up, eh?

:agree: I'm still impressed though.

He's managed to wean himself off open letters and is writing imaginary ones instead.

[HibbyRod]

We're all aware that Sidney is a Jambo on the wind-up, eh?

I'm pretty much in your camp PH! :greengrin

[Leithenhibby]

We're all aware that Sidney is a Jambo on the wind-up, eh?

I did wonder! "noted" :wink:

[kdhibees1]

Dunderhall says Sidney isn't drinking this.

10692
An appropriately shaped teabag for Sidney - The Yam on the dram.

[GlasgowHibee]

Just out of interest, what happens if these cretins get liquidated during the season?

[The Green Goblin]

We're all aware that Sidney is a Jambo on the wind-up, eh?

Even if that's true, he has been funny (imho). His posts have been pretty harmless and amusing. His alter-ego might not like you calling him a yam though. I would brick up my letterbox if I was you. There'll be a letter on the way. :greengrin

[clerriehibs]

We're all aware that Sidney is a Jambo on the wind-up, eh?

It's not much of a wind-up, if true; there's no antagonism towards anything hibs related whatsoever. If anything, he's just doing his bit to keep this thread simmering.

[Bill Milne]

I was told by Jumbo mates at the races yesterday that St Johnstone are operating cash only turnstiles for Hertz first game. This is, presumably, to avoid Hertz retaining ticket money to use to run their club!!

[Off the bar]

I was told by Jumbo mates at the races yesterday that St Johnstone are operating cash only turnstiles for Hertz first game. This is, presumably, to avoid Hertz retaining ticket money to use to run their club!!

very sensible of them!

[CropleyWasGod]

I was told by Jumbo mates at the races yesterday that St Johnstone are operating cash only turnstiles for Hertz first game. This is, presumably, to avoid Hertz retaining ticket money to use to run their club!!

You made this up.

Hearts are not at the races.

[ano hibby]

You made this up.

Hearts are not at the races.


:greengrin

[Bill Milne]

:greengrin

Only in the sense of the Marx Brothers film!!

[Bostonhibby]

Even if that's true, he has been funny (imho). His posts have been pretty harmless and amusing. His alter-ego might not like you calling him a yam though. I would brick up my letterbox if I was you. There'll be a letter on the way. :greengrin

Do you mean like the two Andy Gorams? I did wonder if he might be wee shaun lawson giving himself a cheap thrill thinking he is conning us all:greengrin but on reflection there is every chance Sydney is just Sidney and should be treated as such, for a while longer anyway.:wink:

[Springbank]

The last person in Scottish football who talked about himself inthe third person was probably Lorenzo Amoruso.

"I think Lorenzo have good game today" etc

Good on u Sydney for bringing this back, I say

[brog]

Is DS a director? If he is, he could be held accountable for the bit in bold under the law. Even if he isn't, and he was complicit in it, he could be in trouble.

I would like to think that would happen but I hae ma doots! He is Managing Director but unsure if he is a director of the club. It was interesting to re-read the press release on his appointment in 2010, in amongst the usual guff DS states he is " going to improve Hawrts off field situation ". How's that one going David? Oh, & at that time Yams were advertising tickets for the visit of Oldco, schadenfreude indeed!

[CropleyWasGod]

I would like to think that would happen but I hae ma doots! He is Managing Director but unsure if he is a director of the club. It was interesting to re-read the press release on his appointment in 2010, in amongst the usual guff DS states he is " going to improve Hawrts off field situation ". How's that one going David? Oh, & at that time Yams were advertising tickets for the visit of Oldco, schadenfreude indeed!

You're underestimating the power of Sidney.

[OrdHibby]

I've second hand information that FoH want to purchase the club leaving the debt and some bint will buy the PBS with her resent windfall. She'll lease it back for a small fee, loss interest most likely, then sell the PBS at a profit once a new stadium/village is built in the Ratho area. I hope this is garbage but this is something the council in partnership with a certain ex-hun chairman have been scheming.
***** first post but i haven't read this anywhere so thought i'd pass on the info.

GoodToBe

[joe breezy]

I've second hand information that FoH want to purchase the club leaving the debt and some bint will buy the PBS with her resent windfall. She'll lease it back for a small fee, loss interest most likely, then sell the PBS at a profit once a new stadium/village is built in the Ratho area. I hope this is garbage but this is something the council in partnership with a certain ex-hun chairman have been scheming.
***** first post but i haven't read this anywhere so thought i'd pass on the info.

GoodToBe

interesting first post...

It's 'ooh to be' not 'good to be'

[OrdHibby]

interesting first post...

It's 'ooh to be' not 'good to be'

it was originally GOOD to be , sounded like OHH to be and it stuck.

Still sing GOOD TO BE as do my bairns

[Hibbyradge]

I've second hand information that FoH want to purchase the club leaving the debt and some bint will buy the PBS with her resent windfall. She'll lease it back for a small fee, loss interest most likely, then sell the PBS at a profit once a new stadium/village is built in the Ratho area. I hope this is garbage but this is something the council in partnership with a certain ex-hun chairman have been scheming.
***** first post but i haven't read this anywhere so thought i'd pass on the info.

GoodToBe

Oh, it's garbage alright, but please keep posting any interesting titbits you pick up secondhand. :aok:

[Moulin Yarns]

I was told by Jumbo mates at the races yesterday that St Johnstone are operating cash only turnstiles for Hertz first game. This is, presumably, to avoid Hertz retaining ticket money to use to run their club!!

Perth Saints also have cash gate for Euro tie. Not unusual as they only get 2500 fans.

[OrdHibby]

Oh, it's garbage alright, but please keep posting any interesting titbits you pick up secondhand. :aok:

I truely hope it is. I got the imfo from a mate who got this from a gorgay associate.

[brog]

You're underestimating the power of Sidney.

Brog could never do that! :wink:

[Keith_M]

it was originally GOOD to be , sounded like OHH to be and it stuck.

Still sing GOOD TO BE as do my bairns

B*ll*x, it's ALWAYS been Ooh To Be. I even remember when we nicked it off the Gooners :wink:

[Just Alf]

I truely hope it is. I got the imfo from a mate who got this from a gorgay associate.

It's cool.... DM only put the stadium into the application as a sweetener to the council, there's not even actual plans for one, it's just a offer to have that area "zoned" for possible future use as a stadium..... the bottom line is that DM and the council have no money for it in any case.

PS. It didn't help the overall application :greengrin

[Aldo]

B*ll*x, it's ALWAYS been Ooh To Be. I even remember when we nicked it off the Gooners :wink:

This. It's never been good.

[OrdHibby]

This. It's never been good.


Not to fifers i suppose but its always been GOOD to be a Hibby

[Liberal Hibby]

Not to fifers i suppose but its always been GOOD to be a Hibby

When you're in a hole...

[Kojock]

It's always been Ooh to be. There is a song It's Good To Be a Hibee written by Billy McKenzie and is on the compilation CD of Hibs Songs.

[Aldo]

Not to fifers i suppose but its always been GOOD to be a Hibby

???? I have been going to see Hibs a long time and when that song started its always been Ooh

FACT ENDOF

PS what the flying F has staying in Fife have to do with it?

[jonty]

???? I have been going to see Hibs a long time and when that song started its always been Ooh

FACT ENDOF

PS what the flying F has staying in Fife have to do with it?
Fife Folk ken whits goan oan :agree:

[HUTCHYHIBBY]

:idea: Any chance of starting a new thread for Hibs related song lyric arguments?

[Aldo]

Fife Folk ken whits goan oan :agree:

Aye anyway they deid yet?

Thot we'd better get back in subject?

[PatHead]

Aye anyway they deid yet?

Thot we'd better get back in subject?

Still on life support but they could take a turn for the worse when bidders are asked to show the colour of their money tomorrow. FoH with 200 Globe bottles and the promise of the proceeds of Ligalong with Gary won't cut the mustard.

[Treadstone]

Barry and the EEN twitter accounts have tweeted that the person posting under the name Barry Anderson, in the Pie and Bovril forums (http://www.pieandbovril.com/forum/index.php/user/47113-barry-anderson/), is not the REAL Barry! :faf:

Had a wee look and particularly liked the prediction for the league in May 2014.

01) Celtic
02) Motherwell
03) ICT
04) Hibernian
05) Aberdeen
06) St Johnstone
-----------------------
07) Dundee Utd
08) Ross County
09) Kilmarnock
10) St Mirren
11) Partick Thistle

[Springbank]

Barry and the EEN twitter accounts have tweeted that the person posting under the name Barry Anderson, in the Pie and Bovril forums (http://www.pieandbovril.com/forum/index.php/user/47113-barry-anderson/), is not the REAL Barry! :faf:

Had a wee look and particularly liked the prediction for the league in May 2014.

01) Celtic
02) Motherwell
03) ICT
04) Hibernian
05) Aberdeen
06) St Johnstone
-----------------------
07) Dundee Utd
08) Ross County
09) Kilmarnock
10) St Mirren
11) Partick Thistle

Callous jambos

Denying cash strapped Killie a bottom six post split fixture

That could kill Kilmarnock, if the rumours are to believed that Killie are touch and go

Does mr Doncaster have a view on the impact of hearts not finishing the season on his other member clubs? 2 games against Morton is better than one game against hearts

[Keith_M]

Not to fifers i suppose but its always been GOOD to be a Hibby


Naw mate, you're thinking of the song 'it's good to be Gay', which I presume was written by a Hearts fan on account of the fact they're unnaturally obsessed with the topic.

[Phil MaGlass]

Just a quickie, what will happen to hertz if they are liquidated before the season starts or are liquidated after it starts, and what will happen to the league if they are liquidated before/after season begins?

[Aldo]

They need to make a decision and fast. Imagine a team sitting 2nd after beating the Yams 3 times then bang they go pop and all results are void.

The powers that be are playing a very dangerous game IMHO.

The yams will start the season but will they finish it??

[blackpoolhibs]

It's always been Ooh to be. There is a song It's Good To Be a Hibee written by Billy McKenzie and is on the compilation CD of Hibs Songs.

We're really buzzin so bring your cousin. :faf:

[portycabbage]

Just a quickie, what will happen to hertz if they are liquidated before the season starts or are liquidated after it starts, and what will happen to the league if they are liquidated before/after season begins?

Noticed that the official site is missing one league fixture - the 3rd derby at the PBS on 29/3/14! Just surprised they put the other two up.:greengrin

[Juice-Terry]

We're really buzzin so bring your cousin. :faf:

Superb line!

[Hibercelona]

Barry and the EEN twitter accounts have tweeted that the person posting under the name Barry Anderson, in the Pie and Bovril forums (http://www.pieandbovril.com/forum/index.php/user/47113-barry-anderson/), is not the REAL Barry! :faf:

Had a wee look and particularly liked the prediction for the league in May 2014.

01) Celtic
02) Motherwell
03) ICT
04) Hibernian
05) Aberdeen
06) St Johnstone
-----------------------
07) Dundee Utd
08) Ross County
09) Kilmarnock
10) St Mirren
11) Partick Thistle

:tee hee:

[Phil MaGlass]

Noticed that the official site is missing one league fixture - the 3rd derby at the PBS on 29/3/14! Just surprised they put the other two up.:greengrin

Aye noticed that a few days ago masel.Ah well looks like we might be losing some points then.

[Ozyhibby]

http://m.stv.tv/sport/football/clubs/hearts/233941-hearts-administrator-expects-bidders-to-exit-the-race-to-buy-the-club/

[Onion]

They need to make a decision and fast. Imagine a team sitting 2nd after beating the Yams 3 times then bang they go pop and all results are void.

The powers that be are playing a very dangerous game IMHO.

The yams will start the season but will they finish it??

And the Yams know that. All they have to do is play the first few games and they will assume the powers that be will do all they can to help them through the season, as the alternatives are utterly horrendous for the SPL. That will include the pre-payment of TV money, delay or removal of any o/s SPL/SFA fines, rearrangement of fixtures to maximise the Yams income/cash flow, and leniency when it comes to financial discipline/accounting.

[poolman]

I've second hand information that FoH want to purchase the club leaving the debt and some bint will buy the PBS with her resent windfall. She'll lease it back for a small fee, loss interest most likely, then sell the PBS at a profit once a new stadium/village is built in the Ratho area. I hope this is garbage but this is something the council in partnership with a certain ex-hun chairman have been scheming.
***** first post but i haven't read this anywhere so thought i'd pass on the info.

GoodToBe



I heard this as well

She's gonna knock down Ratho and build a whole new village complete with a mega hotel and new shiny stadium equipped with it's own painted steps and 50 watt light bulbs :agree:

[Spike Mandela]

http://m.stv.tv/sport/football/clubs/hearts/233941-hearts-administrator-expects-bidders-to-exit-the-race-to-buy-the-club/

Still sticking to the line that once UBIG officially enters administration that BDO will then start discussing transfer of shares, no mention of assets frozen due to criminal investigation. General reporting still seems to give impression CVA is a given. Is their something our ITK guys are missing?

[jgl07]

Still sticking to the line that once UBIG officially enters administration that BDO will then start discussing transfer of shares, no mention of assets frozen due to criminal investigation. General reporting still seems to give impression CVA is a given. Is their something our ITK guys are missing?

Go back a year and a CVA was nailed on for Rangers according to the Scottish press.

[CropleyWasGod]

Go back a year and a CVA was nailed on for Rangers according to the Scottish press.

C'rect.

Dealing with Spike's theme, this has become another "if you repeat it often enough, it becomes the truth". One media outlet says something,and the rest think "oh, they must know what they're talking about", and repeat it.

I have yet to see anything to convince me that UBIG's entering administration will magically defrost the shares.

[Spike Mandela]

Go back a year and a CVA was nailed on for Rangers according to the Scottish press.
:agree:


That's true.

Just doesn't seem to be any dissenting voice in the MSM at all suggesting that monies offered might not be enough to satisfy creditors. Reading between the lines I get the feeling our media think 'Johnny Foreigner' will accept anything they are given and should be grateful for it.

[Prof. Shaggy]

Naw mate, you're thinking of the song 'it's good to be Gay', which I presume was written by a Hearts fan on account of the fact they're unnaturally obsessed with the topic.

If it's the TRB you're thinking of, you might mean "Sing if you're glad to be gay".

And I think it's a whole lot more ironic than you give it credit for.:agree:

[HibbySpurs]

:agree:


That's true.

Just doesn't seem to be any dissenting voice in the MSM at all suggesting that monies offered might not be enough to satisfy creditors. Reading between the lines I get the feeling our media think 'Johnny Foreigner' will accept anything they are given and should be grateful for it.

:agree:Agree....

Seem to recall the MSM last year saying right up until the 11th hour that HMRC would 100% play ball with the Rangers CVA... Right up to the point that HMRC openly said a day or so before the vote that errrrr, no we wont and they went pop amid much dragging of knuckles and gnashing of one tooth against gums from the residents of Govan.......:greengrin


If someone said to me, I'll give you £2M for your debt and I could realise say £6M for the one large liquitable asset anyway I know which way I would be jumping (especially if I was bankrupt myself).....:cb

[Ozyhibby]

:agree:Agree....

Seem to recall the MSM last year saying right up until the 11th hour that HMRC would 100% play ball with the Rangers CVA... Right up to the point that HMRC openly said a day or so before the vote that errrrr, no we wont and they went pop amid much dragging of knuckles and gnashing of one tooth against gums from the residents of Govan.......:greengrin


If someone said to me, I'll give you £2M for your debt and I could realise say £6M for the one large liquitable asset anyway I know which way I would be jumping (especially if I was bankrupt myself).....:cb

I wouldn't even forgive Hibs that level of debt.

[Sanger]

:agree:


That's true.

Just doesn't seem to be any dissenting voice in the MSM at all suggesting that monies offered might not be enough to satisfy creditors. Reading between the lines I get the feeling our media think 'Johnny Foreigner' will accept anything they are given and should be grateful for it.


Tell them to read Insolvency News!

[clerriehibs]

:agree:Agree....

Seem to recall the MSM last year saying right up until the 11th hour that HMRC would 100% play ball with the Rangers CVA... Right up to the point that HMRC openly said a day or so before the vote that errrrr, no we wont and they went pop amid much dragging of knuckles and gnashing of one tooth against gums from the residents of Govan.......:greengrin


If someone said to me, I'll give you £2M for your debt and I could realise say £6M for the one large liquitable asset anyway I know which way I would be jumping (especially if I was bankrupt myself).....:cb

True - but this time around, hmrc's share of the debt isn't big enough for an effective vote. It is all down to the Lithuanian take on matters.

[Spike Mandela]

Deadline has passed and no word of any bidder dropping out yet.:cb

[HibbySpurs]

True - but this time around, hmrc's share of the debt isn't big enough for an effective vote. It is all down to the Lithuanian take on matters.


Aye, I know mate, was just using HMRC v the Huns as a case in point :-)

[Spike Mandela]

Radio Scotland reporting only FoH met the deadline but expecting other two bidders to put in late bids tonight.

What's the point of a deadline then?:confused:

[Keith_M]

Radio Scotland reporting only FoH met the deadline but expecting other two bidders to put in late bids tonight.

What's the point of a deadline then?:confused:


IIRC, there were about 40 deadlines during Rangers Administration.

[Sanger]

Radio Scotland reporting only FoH met the deadline but expecting other two bidders to put in late bids tonight.

What's the point of a deadline then?:confused:
Bob's warden just finishing off the letter now saying he has the money.

[HUTCHYHIBBY]

Bob's warden just finishing off the letter now saying he has the money.

Hope his name isnae sidney!

[CropleyWasGod]

IIRC, there were about 40 deadlines during Rangers Administration.

That's how really big teams do things.


Radio Scotland reporting only FoH met the deadline but expecting other two bidders to put in late bids tonight.

What's the point of a deadline then?:confused:

Think BDO said "close of business" today. They do work long hours, the wee souls. :greengrin

[sidneyhibbie]

Tell them to read Insolvency News!


I Have said for weeks that the big L Is on the way BDO Are just stringing the yams along the 7k season tickets *****ed away is the final nail the house of cards will implode very very soon.:na na:

[PatHead]

SSN mentioned an improved offer by FoH, Anyone know what it is?

[Lucius Apuleius]

I Have said for weeks that the big L Is on the way BDO Are just stringing the yams along the 7k season tickets *****ed away is the final nail the house of cards will implode very very soon.:na na:

Wow. You ever thought of writing a book? Prophets, Seers and Sages through the Ages? Sidney's Almanac?

[CropleyWasGod]

SSN mentioned an improved offer by FoH, Anyone know what it is?

Given that we know nothing about the original offer, other than what's been guessed at, I'll guess it's "guess plus 10%".

:cb

[YehButNoBut]

SSN mentioned an improved offer by FoH, Anyone know what it is?

Looking at this thread on Keekback some were worried after watching Jackson's interview on STV earlier that the FOH bid could have been too low and they may have been forced to drop out, so it may be that they have upped it just to make sure they are not kicked out of the process.

Some of them seem to think that the Massone bid may be the closest to being the preferred bidder, although they get a hard time for not supporting the FOH bid.

Link below to thread & STV interview (in case anyone missed it earlier)

http://www.hmfckickback.co.uk/index.php?/topic/130691-jackson-interview-expects-bidder-to-exit-process/

http://sport.stv.tv/football/clubs/hearts/233941-hearts-administrator-expects-bidders-to-exit-the-race-to-buy-the-club/

Interesting part of the STV interview where Jackson says that the fans have given & given & given & there will come a time when they cannot give any more.

If he believes that is the case then how can he accept the fans funding FOH is anything but a short term solution & cannot be accepted as proof of funding long term.

[cabbageandribs1875]

And the Yams know that. All they have to do is play the first few games and they will assume the powers that be will do all they can to help them through the season, as the alternatives are utterly horrendous for the SPL. That will include the pre-payment of TV money, delay or removal of any o/s SPL/SFA fines, rearrangement of fixtures to maximise the Yams income/cash flow, and leniency when it comes to financial discipline/accounting.



this, unfortunately

not pleasing :(

[OrdHibby]

SSN mentioned an improved offer by FoH, Anyone know what it is?

Two more have pledged bringing another £20 to the table.

[jacomo]

Just a quickie, what will happen to hertz if they are liquidated before the season starts or are liquidated after it starts, and what will happen to the league if they are liquidated before/after season begins?


Looking at this thread on Keekback some were worried after watching Jackson's interview on STV earlier that the FOH bid could have been too low and they may have been forced to drop out, so it may be that they have upped it just to make sure they are not kicked out of the process.

Some of them seem to think that the Massone bid may be the closest to being the preferred bidder, although they get a hard time for not supporting the FOH bid.

Link below to thread & STV interview (in case anyone missed it earlier)

http://www.hmfckickback.co.uk/index.php?/topic/130691-jackson-interview-expects-bidder-to-exit-process/

http://sport.stv.tv/football/clubs/hearts/233941-hearts-administrator-expects-bidders-to-exit-the-race-to-buy-the-club/

Interesting part of the STV interview where Jackson says that the fans have given & given & given & there will come a time when they cannot give any more.

If he believes that is the case then how can he accept the fans funding FOH is anything but a short term solution & cannot be accepted as proof of funding long term.

That Brian Jackson interview should be pretty chilling to any Yam.

If the money for the 7,000 STs sold before admin is gone, are they going to honour those STs and let them in anyhow? Or ask them to pay again. Presumably there's a big crossover between ST Holders and FOH pledgers, so if they say the season tickets are void they might just cancel their DDs to FoH sooner rather than later.

No way the SPFL can expect them to fulfil their fixtures next season though - no bidder has enough working capital to see them through it seems.

[essexhibee]

The idea of a club being run on pledges is ridiculous. What will happen when a number of the pledgers realise they can't afford what they are pledging and pull out?

Ridiculous idea that will never work surely.

[Ozyhibby]

That Brian Jackson interview should be pretty chilling to any Yam.

If the money for the 7,000 STs sold before admin is gone, are they going to honour those STs and let them in anyhow? Or ask them to pay again. Presumably there's a big crossover between ST Holders and FOH pledgers, so if they say the season tickets are void they might just cancel their DDs to FoH sooner rather than later.

No way the SPFL can expect them to fulfil their fixtures next season though - no bidder has enough working capital to see them through it seems.

It sounds like (I can't seem to view it on my phone.) the focus of the interview is on the working capital part of the bid which you would think would be least important to the lithunians. Could this be because the football authorities have set a deadline for BDO to show that Hearts will be able to complete their fixtures.
There has been total silence on the subject from the SPFL but useless as they are I don't believe for a minute they are doing nothing.
Also, how many days to the derby? Would tickets not normally be on sale by now?

[Fat Penlon]

Looking at this thread on Keekback some were worried after watching Jackson's interview on STV earlier that the FOH bid could have been too low and they may have been forced to drop out, so it may be that they have upped it just to make sure they are not kicked out of the process.

Some of them seem to think that the Massone bid may be the closest to being the preferred bidder, although they get a hard time for not supporting the FOH bid.

Link below to thread & STV interview (in case anyone missed it earlier)

http://www.hmfckickback.co.uk/index.php?/topic/130691-jackson-interview-expects-bidder-to-exit-process/

http://sport.stv.tv/football/clubs/hearts/233941-hearts-administrator-expects-bidders-to-exit-the-race-to-buy-the-club/

Interesting part of the STV interview where Jackson says that the fans have given & given & given & there will come a time when they cannot give any more.

If he believes that is the case then how can he accept the fans funding FOH is anything but a short term solution & cannot be accepted as proof of funding long term.

Some people on here wonder why others question the ability of BDO to do the right thing for the creditors or even question their integrity. Is it any wonder people doubt them when Brian Jackson still refers to UBIG as a bank in today's video! He even manages to talk about their 50% of the shares without mentioning that even if they are in admin in 2-3 weeks they as an asset of UBIG will still be frozen by the courts in Lithuania!

TOSSER!

[The Green Goblin]

I Have said for weeks that the big L Is on the way BDO Are just stringing the yams along the 7k season tickets *****ed away is the final nail the house of cards will implode very very soon.:na na:

Welcome back....

[OrdHibby]

The idea of a club being run on pledges is ridiculous. What will happen when a number of the pledgers realise they can't afford what they are pledging and pull out?

Ridiculous idea that will never work surely.

Everything in scottish football is ridiculous. The authorities have stood back and allowed this lot to make a mockery of the game in Scotland, or should that be an even BIGGER mockery. Where does this leave Morton ? Do they care ? Do they ****.
Imagine however a scenario where The Rangers had finished 2nd behind Partick Thistle last season, do you think we'd still be in this predicament ?

The authorities in the country have to go alone with the gorgay mutants.

Rant over.

GOOD To Be

[clerriehibs]

That Brian Jackson interview should be pretty chilling to any Yam.

If the money for the 7,000 STs sold before admin is gone, are they going to honour those STs and let them in anyhow? Or ask them to pay again. Presumably there's a big crossover between ST Holders and FOH pledgers, so if they say the season tickets are void they might just cancel their DDs to FoH sooner rather than later.

No way the SPFL can expect them to fulfil their fixtures next season though - no bidder has enough working capital to see them through it seems.

Surely, while the club is the same legal entity as it was before admin, and if it's flogged as a going concern, then STs must be honoured? They'll only become worthless in the event of liquidation, no?

[H18sry]

If FOH are not given preferred status, does all the money that has been collected get returned :confused:

[AndyM_1875]

If FOH are not given preferred status, does all the money that has been collected get returned :confused:

Minus an Admin charge , yes

[Onion]

That Brian Jackson interview should be pretty chilling to any Yam.

If the money for the 7,000 STs sold before admin is gone, are they going to honour those STs and let them in anyhow? Or ask them to pay again. Presumably there's a big crossover between ST Holders and FOH pledgers, so if they say the season tickets are void they might just cancel their DDs to FoH sooner rather than later.

No way the SPFL can expect them to fulfil their fixtures next season though - no bidder has enough working capital to see them through it seems.

Of couse they will. Like all other creditors, they'll get a full refund of 8p in the £ :aok:

[bingo70]

Minus an Admin charge , yes

How can it? It's been given to the administrators to spend to keep the club afloat and has now been spent.

I think the original plan was to refund the payments if the bid failed but that changed when they went into admin.

[H18sry]

How can it? It's been given to the administrators to spend to keep the club afloat and has now been spent.

I think the original plan was to refund the payments if the bid failed but that changed when they went into admin.

So what have the other bidders invested to keep them afloat :titanic: does the fact that they are using FOH cash not give them an unfair advantage when preffered bidder status is announced.

[Part/Time Supporter]

If FOH are not given preferred status, does all the money that has been collected get returned :confused:

FOH haven't collected any money from fans (yet).


How can it? It's been given to the administrators to spend to keep the club afloat and has now been spent.

I think the original plan was to refund the payments if the bid failed but that changed when they went into admin.


So what have the other bidders invested to keep them afloat :titanic: does the fact that they are using FOH cash not give them an unfair advantage when preffered bidder status is announced.

FOH haven't put any funds into Hearts.

They're offering to buy Hearts out of administration, with up front capital from a few investors. Then they are proposing to fund ongoing cash deficits with these pledges from fans.

[H18sry]

FOH haven't collected any money from fans (yet).





FOH haven't put any funds into Hearts.

They're offering to buy Hearts out of administration, with up front capital from a few investors. Then they are proposing to fund ongoing cash deficits with these pledges from fans.

What about all the bake sales and functions they have been holding and the charity football match they had last week that has raised money for FOH ?

[Dalkeith]

According to some ITK over the road FOH was the lowest of the 3 bids and less than half the value of the highest bid

"Despite FoH knowing all that, their bid was a distant third out of three, and less than half the top bid. That's makes me nervous that perhaps (just perhaps) they are trying to be a bit too clever, and that they may risk losing the chance to buy Hearts, in an unsuccessful attempt to save a few quid."

[Part/Time Supporter]

What about all the bake sales and functions they have been holding and the charity football match they had last week that has raised money for FOH ?

I was referring to the bank account pledges.

As far as I am aware most of the "charity" fundraising over the last month or so has been providing funds to Hearts directly, rather than FOH.

[TrinityHibs]

If we're getting 15K at say an average of £12 tonight that's £180,000. Just think what a difference that would have made to our pink pals if they had a game as well. Never mind some Borders ream gave them a couple of hundred quid so #allisbarry

[down-the-slope]

Happy Thursday :greengrin

Nice bouncy Euro game to look forward too at ER

Down at Gorgie its just a day for brown envelope opening by BDO to see if any of the 3 Bidders actually do have a pot to pee in


:cb

[Bostonhibby]

If FOH are not given preferred status, does all the money that has been collected get returned :confused:

They are going to give it to the Jamesie cotter type yam from the Inch so he can block book buses to get the 400,000 to Elgin and Peterhead.

[joe breezy]

I wonder when the SPFL take a moment to think about the implications of hearts being bust by Christmas? Season starts soon...

[Part/Time Supporter]

I wonder when the SPFL take a moment to think about the implications of hearts being bust by Christmas? Season starts soon...

This is one of the bigger red herrings in this situation.

1. There was no provision in the SPL rules for the board to make a "you must put up £x before the season to guarantee your fixtures".

2. Even if there were such a provision in the SPFL rules, as there was in the SFL rules in relation to Livingston, it would be highly controversial for it to be used.

3. If they did make such a demand of a club in administration and they were unable to comply, it would severely reduce the likelihood of that club surviving insolvency.

If Hearts are unable to fulfil their fixtures, or have to apply for a share transfer to a new Hearts company, then the SPFL will make a decision. Not before.

[CropleyWasGod]

Some people on here wonder why others question the ability of BDO to do the right thing for the creditors or even question their integrity. Is it any wonder people doubt them when Brian Jackson still refers to UBIG as a bank in today's video! He even manages to talk about their 50% of the shares without mentioning that even if they are in admin in 2-3 weeks they as an asset of UBIG will still be frozen by the courts in Lithuania!

TOSSER!

I have now watched it twice.

BJ doesn't call UBIG a bank. Twice, he refers to the "bank in Lithuania". And the "50%" he mentions is , as I heard it, the shares held by UKIO in UBIG.

[leithsansiro]

Slightly off-topic, but even the church recognises that the game is up for the Jambos and their pals...http://www.bbc.co.uk/news/business-23433955 :tsk tsk:

[joe breezy]

This is one of the bigger red herrings in this situation.

1. There was no provision in the SPL rules for the board to make a "you must put up £x before the season to guarantee your fixtures".

2. Even if there were such a provision in the SPFL rules, as there was in the SFL rules in relation to Livingston, it would be highly controversial for it to be used.

3. If they did make such a demand of a club in administration and they were unable to comply, it would severely reduce the likelihood of that club surviving insolvency.

If Hearts are unable to fulfil their fixtures, or have to apply for a share transfer to a new Hearts company, then the SPFL will make a decision. Not before.

Interesting, I thought they'd be finished before the season starts, makes it more fun I suppose...

[Platinum Scotty]

Slightly off-topic, but even the church recognises that the game is up for the Jambos and their pals...http://www.bbc.co.uk/news/business-23433955 :tsk tsk:

beat me to it..............its going to be interesting from the busines plan front, I appreciate that this isnt going to kick in straight away, but surely must focus some minds of anyone investing etc.............allgood!

[StevieC]

"Despite FoH knowing all that, their bid was a distant third out of three, and less than half the top bid. That's makes me nervous that perhaps (just perhaps) they are trying to be a bit too clever, and that they may risk losing the chance to buy Hearts, in an unsuccessful attempt to save a few quid."

They are not bidding half because they are trying "to be clever", they are bidding half because that is the best (estimate) they can bid on the pledges they've received.

[Dalkeith]

Massone Hearts bid goes through
Controversial former Livingston owner Angelo Massone has reportedly handed in a last minute bid for Hearts, just hours after fans’ favourite the Foundation of Hearts put in their proof of funding.
FoH were the only group to meet the 5pm deadline, but sources claim that Massone’s 9pm offer would give creditors twice as much cash as the FoH. (Edinburgh Evening News)

[Bad Martini]

They owe £25 million.

They have 400,000 fans.

All they need is £62.50 each and their problems are solved no? :rolleyes:

Simples :D

#allisbarry

ENDOF


[B]Massone......

ENDOF :thumbup::D:eek::D:cool::beer:


that is the best (estimate) they can bid on the pledges they've received.

:D

[HIBERNIAN-0762]

Massone Hearts bid goes through
Controversial former Livingston owner Angelo Massone has reportedly handed in a last minute bid for Hearts, just hours after fans’ favourite the Foundation of Hearts put in their proof of funding.
FoH were the only group to meet the 5pm deadline, but sources claim that Massone’s 9pm offer would give creditors twice as much cash as the FoH. (Edinburgh Evening News)

Can't see this happening to be honest, his track record speaks for its self, still one crook out and another one in, its the yam way forward.

[brog]

Massone Hearts bid goes through
Controversial former Livingston owner Angelo Massone has reportedly handed in a last minute bid for Hearts, just hours after fans’ favourite the Foundation of Hearts put in their proof of funding.
FoH were the only group to meet the 5pm deadline, but sources claim that Massone’s 9pm offer would give creditors twice as much cash as the FoH. (Edinburgh Evening News)

So Borders Boaby's bid of 100 used trainers never made the cut then? Another Club 9 success story!

[YehButNoBut]

Can't see this happening to be honest, his track record speaks for its self, still one crook out and another one in, its the yam way forward.

Scotsman reporting it here, seems to be taken from the Daily Mail.

http://www.scotsman.com/sport/football/latest/rumour-mill-hearts-rangers-celtic-hibs-1-3014092

[Saorsa]

They are not bidding half because they are trying "to be clever", they are bidding half because that is the best (estimate) they can bid on the pledges they've received.I keep reading about these pledges being part of the bid and I still find it odd as tae how these can be considered as part of any bid when they are in nae way guaranteed income, they could be cancelled at any time. How can they can be counted as a realistic part of any bid when that is the case?

[Dalkeith]

All 3 still in
http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-bids-three-groups-add-improved-offers-1-3014198

[jacomo]

I was referring to the bank account pledges.

As far as I am aware most of the "charity" fundraising over the last month or so has been providing funds to Hearts directly, rather than FOH.

Aren't the FoH DDs due to start next month? Unless they delay, there's a chance that FoH will be taking money from people's accounts without even being granted preferred bidder status.

[Bostonhibby]

Massone Hearts bid goes through
Controversial former Livingston owner Angelo Massone has reportedly handed in a last minute bid for Hearts, just hours after fans’ favourite the Foundation of Hearts put in their proof of funding.
FoH were the only group to meet the 5pm deadline, but sources claim that Massone’s 9pm offer would give creditors twice as much cash as the FoH. (Edinburgh Evening News)

A typical Yam response might be

How can this be true? We have a foundation with an MP and everything, we have pledges that will never end, some of them are even from hearts fans.

The man is nowhere near a big enough crook for the big team, never will be a dear leader - what countries population has he ever robbed FFS?

Where is he getting the money from? bound to be dirty money and its not as if he is borrowing it from himself.

Not a single promise about Champions Leagues, megasuperhotelstadium, splitting the OF, Christ I bet he doesn't even know how to put a planning application into cardboard boxes.

Absolutely no evidence that he can dance or captain a submarine. We should just say we want someone more Yam minded - we can do that, can't we Mr Murray MP sir? after all we are a big team who won the cup and a war.

Maybe we should have got together earlier to form a committee to vet candidates and say who we want and at what price, if that Cowell guy can do it on X Factor there's no reason why we can't, we are bigger than X Factor.

I am really hoping that we haven't done all that baking only to find that the new Mr Kipling is some lightweight in the international money laundering and financial crime world, just not hearts class, I can't see him lasting any where near as long as Vlad in the international hide and seek game with the cops and the gangsters.

Brilliant if the best £ bid for the creditors is Massone..the end is nigh

[Kojock]

All the relevant documentation has now been sent to Lithuania where it will be examined by administrators acting on behalf of Hearts’ main creditors

Looks like they have examined all three offers.

10699

Let me be the first to bring you an exclusive interview with the administrators


http://www.youtube.com/watch?v=x4Vp642ERhM

[Deansy]

On 'Sick-Bag', a thread 'FOH officially the only show in town' (taken from an article in 'The Scotsman') -

http://www.hmfckickback.co.uk/index.php?/topic/130710-foh-officially-the-only-show-in-town/

"I wonder how much the admins are allowed to intervene? For example if the CVA amount offered's twice as high but there's no proof of funding going forward, can they strike the bid on the basis it would be irresponsible to flog a business with no income to meet its outgoings for the next year?

Jackson seemed quite pointed in his interview yesterday that the bid's as much about the operating cash as it is the CVA money, seemed like it was a warning to Massone. Remember that if you total the first bids up, FOH offered more than a million more"

Yup, the Lithuanians will move 'Heaven & Earth' to save the little business that managed to waste (at least) a minimum of £60m of their money.

[Sanger]

Source of Debt
Debts Million
Comment
Link








Original
22
debt for equity swaps on two years to UBIG




2
Forgiven by UBIG on take over
http://news.bbc.co.uk/sport1/hi/football/teams/h/heart_of_midlothian/4570516.stm



8.8
Forgiven by Panama subsuduary company 2011




7.9
payment from FC Kaunas









Total converted/forgiven
40.7










Current debt
25










Total

And Lith admins will take £2m and some cakes!
65.7

[Scònaldò]

Is it the case that if the only bid on the table is, say for instance 2 million - the liths can either accept that bid or decline it and get nothing?

[CropleyWasGod]

Is it the case that if the only bid on the table is, say for instance 2 million - the liths can either accept that bid or decline it and get nothing?

No.

Rejecting an offer in that way would lead to liquidation. In a liquidation, they would get their share of whatever the market paid for the assets.

[Saorsa]

Is it the case that if the only bid on the table is, say for instance 2 million - the liths can either accept that bid or decline it and get nothing?They winnae get nothing, they have the security on the piggery.

[Scònaldò]

No.

Rejecting an offer in that way would lead to liquidation. In a liquidation, they would get their share of whatever the market paid for the assets.

Ahh, thank god their is people like you on here so people like me can understand this mobs situation.

I thank you.

[leithsansiro]

Massone Hearts bid goes through
Controversial former Livingston owner Angelo Massone has reportedly handed in a last minute bid for Hearts, just hours after fans’ favourite the Foundation of Hearts put in their proof of funding.
FoH were the only group to meet the 5pm deadline, but sources claim that Massone’s 9pm offer would give creditors twice as much cash as the FoH. (Edinburgh Evening News)

:agree: I'm backing Massone all the way. He certainly meets my main criteria for investors in Hearts, in that he's clearly a crook only interested in asset stripping. Go for Angelo!!

[poolman]

:agree: I'm backing Massone all the way. He certainly meets my main criteria for investors in Hearts, in that he's clearly a crook only interested in asset stripping. Go for Angelo!!


http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-bids-three-groups-add-improved-offers-1-3014198

[Technofob]

:agree: I'm backing Massone all the way. He certainly meets my main criteria for investors in Hearts, in that he's clearly a crook only interested in asset stripping. Go for Angelo!!

That could catch on....#goforangelo!!!

[Dunderhall]

STV news
(http://sport.stv.tv/football/clubs/hearts/234036-administrators-receive-improved-offers-for-hearts-after-deadline/)

STV has learned that BDO still have concerns about all three bids but are satisfied with the documentation they have received so far. Administrator Bryan Jackson has forwarded the details of all three offers to Ukio Bankas' administrators in Lithuania and expects to hold discussions with them on Thursday afternoon.

[HUTCHYHIBBY]

STV news
(http://sport.stv.tv/football/clubs/hearts/234036-administrators-receive-improved-offers-for-hearts-after-deadline/)

Well done! post no. 25000 on the thread!

[#FromTheCapital]

STV news
(http://sport.stv.tv/football/clubs/hearts/234036-administrators-receive-improved-offers-for-hearts-after-deadline/)

"A CVA at Hearts still hinges on former parent company UBIG entering administration in Lithuania.
The holding company is expected to have a court-appointed insolvency process confirmed some time in August.
At that moment BDO would be able to start negotiating to release UBIG's 50% shareholding in Hearts."

They can negotiate all they want but there's nae chance of the shares being unfrozen while UBIG are under criminal investigation

[Sanger]

"A CVA at Hearts still hinges on former parent company UBIG entering administration in Lithuania.
The holding company is expected to have a court-appointed insolvency process confirmed some time in August.
At that moment BDO would be able to start negotiating to release UBIG's 50% shareholding in Hearts."

They can negotiate all they want but there's nae chance of the shares being unfrozen while UBIG are under criminal investigation


essentailly the Lith government are the adminsitrators. They will laugh the bids out of town but may sanction the sale of Tynie in a liquidation sale and put the proceeds in trust until the Romanov swindle is unbundled.

[Waxy]

They still hanging by a fingernail? Just go newco ya bunch o stupid yams. You know you have to.

[Scònaldò]

..that makes you realise how lucky you are to be a hibby.

New bucket seats to make our UEFA compliant stadium look even better than it is.

A brand new 200k striker.

A European night ahead of us.

Hearts are ****ed.

Anyone got anything else to add?

[God Petrie]

..that makes you realise how lucky you are to be a hibby.

New bucket seats to make our UEFA compliant stadium look even better than it is.

A brand new 200k striker.

A European night ahead of us.

Hearts are ****ed.

Anyone got anything else to add?

5-1 1902 forever in their shadows tho

[jgl07]

That could catch on....#goforangelo!!!

http://www.youtube.com/watch?v=RRLQs0w4ExY

[Andy74]

..that makes you realise how lucky you are to be a hibby.

New bucket seats to make our UEFA compliant stadium look even better than it is.

A brand new 200k striker.

A European night ahead of us.

Hearts are ****ed.

Anyone got anything else to add?

Had a wee look over there and their current focus is on compiling a list of articles about Hibs players getting arrested and so on.

From a team who have employed their share of sex offenders and who have had recent players done for drink driving and coke use its fairly desperate.

[Bad Martini]

..that makes you realise how lucky you are to be a hibby.

New bucket seats to make our UEFA compliant stadium look even better than it is.

A brand new 200k striker.

A European night ahead of us.

Hearts are ****ed.

Anyone got anything else to add?


Now you ask... Here's all we don't have....

No employees on the register...
No owner/former owner captured on YouTube slapping our players in the puss
No asbestos at Easter Road
No hole in the roof
No begging emails for players wages each month
No stupid Russian hats or talk of submarines and such like
No failed planning permission for stadium development
No linkage with Satan as a 'celebrity fan'
No chance of our failing to exist when the season kicks off next week
No laughing stock of football tag attached to us for five plus years of sheep like following and abject stupidity
No beautiful people adverts
No mandatory cake sales to pay staff wages
No players picked by fax machine
No silly claims of Brazilian word cup stars not materialising
No revolving door of managers in less than a decade
No liquidators
No maroon
No daft explayers leaving us and making a gig of themselves with shirt numbers for a team that will soon cease to be
No flats on our pitch
No failure to beat our local rivals at the last time of asking when it might be the last time ever
No gorgie
No Foulkes, Salmond or Corbett
No lack of hope for the future as our rivals hang on by a thread with nothing more than b list celebs making silly hand gestures and in the process calling us fannies under their breaths

.... There's more. :D

[clerriehibs]

Now you ask... Here's all we don't have....

No employees on the register...
No owner/former owner captured on YouTube slapping our players in the puss
No asbestos at Easter Road
No hole in the roof
No begging emails for players wages each month
No stupid Russian hats or talk of submarines and such like
No failed planning permission for stadium development
No linkage with Satan as a 'celebrity fan'
No chance of our failing to exist when the season kicks off next week
No laughing stock of football tag attached to us for five plus years of sheep like following and abject stupidity
No beautiful people adverts
No mandatory cake sales to pay staff wages
No players picked by fax machine
No silly claims of Brazilian word cup stars not materialising
No revolving door of managers in less than a decade
No liquidators
No maroon
No daft explayers leaving us and making a gig of themselves with shirt numbers for a team that will soon cease to be
No flats on our pitch
No failure to beat our local rivals at the last time of asking when it might be the last time ever
No gorgie
No Foulkes, Salmond or Corbett
No lack of hope for the future as our rivals hang on by a thread with nothing more than b list celebs making silly hand gestures and in the process calling us fannies under their breaths

.... There's more. :D

no Wonga (although there's a fair amount of wonga)

[Glesgahibby]

..that makes you realise how lucky you are to be a hibby.

New bucket seats to make our UEFA compliant stadium look even better than it is.

A brand new 200k striker.

A European night ahead of us.

Hearts are ****ed.

Anyone got anything else to add?
Hibs fan wins bbc sports personality of the year (NAP):agree:

[jacomo]

..that makes you realise how lucky you are to be a hibby.

New bucket seats to make our UEFA compliant stadium look even better than it is.

A brand new 200k striker.

A European night ahead of us.

Hearts are ****ed.

Anyone got anything else to add?

Even Nike can't totally screw up the inherent rightness of green.

Not even Prada could make maroon acceptable or desirable.

[Sweet Left Peg]

Now you ask... Here's all we don't have....

No employees on the register...
No owner/former owner captured on YouTube slapping our players in the puss
No asbestos at Easter Road
No hole in the roof
No begging emails for players wages each month
No stupid Russian hats or talk of submarines and such like
No failed planning permission for stadium development
No linkage with Satan as a 'celebrity fan'
No chance of our failing to exist when the season kicks off next week
No laughing stock of football tag attached to us for five plus years of sheep like following and abject stupidity
No beautiful people adverts
No mandatory cake sales to pay staff wages
No players picked by fax machine
No silly claims of Brazilian word cup stars not materialising
No revolving door of managers in less than a decade
No liquidators
No maroon
No daft explayers leaving us and making a gig of themselves with shirt numbers for a team that will soon cease to be
No flats on our pitch
No failure to beat our local rivals at the last time of asking when it might be the last time ever
No gorgie
No Foulkes, Salmond or Corbett
No lack of hope for the future as our rivals hang on by a thread with nothing more than b list celebs making silly hand gestures and in the process calling us fannies under their breaths

.... There's more. :D

No comparison!

[BH Hibs]

[QUOTE=Bad Martini;3686570]Now you ask... Here's all we don't have....

No employees on the register...
No owner/former owner captured on YouTube slapping our players in the puss
No asbestos at Easter Road
No hole in the roof
No begging emails for players wages each month
No stupid Russian hats or talk of submarines and such like
No failed planning permission for stadium development
No linkage with Satan as a 'celebrity fan'
No chance of our failing to exist when the season kicks off next week
No laughing stock of football tag attached to us for five plus years of sheep like following and abject stupidity
No beautiful people adverts
No mandatory cake sales to pay staff wages
No players picked by fax machine
No silly claims of Brazilian word cup stars not materialising
No revolving door of managers in less than a decade
No liquidators
No maroon
No daft explayers leaving us and making a gig of themselves with shirt numbers for a team that will soon cease to be
No flats on our pitch
No failure to beat our local rivals at the last time of asking when it might be the last time ever
No gorgie
No Foulkes, Salmond or Corbett
No lack of hope for the future as our rivals hang on by a thread with nothing more than b list celebs making silly hand gestures and in the process calling us fannies under their breaths

.... There's more. :D[/QUOTE
No Hearts in Europe :flag:

[kdhibees1]

Now you ask... Here's all we don't have....

No employees on the register...
No owner/former owner captured on YouTube slapping our players in the puss
No asbestos at Easter Road
No hole in the roof
No begging emails for players wages each month
No stupid Russian hats or talk of submarines and such like
No failed planning permission for stadium development
No linkage with Satan as a 'celebrity fan'
No chance of our failing to exist when the season kicks off next week
No laughing stock of football tag attached to us for five plus years of sheep like following and abject stupidity
No beautiful people adverts
No mandatory cake sales to pay staff wages
No players picked by fax machine
No silly claims of Brazilian word cup stars not materialising
No revolving door of managers in less than a decade
No liquidators
No maroon
No daft explayers leaving us and making a gig of themselves with shirt numbers for a team that will soon cease to be
No flats on our pitch
No failure to beat our local rivals at the last time of asking when it might be the last time ever
No gorgie
No Foulkes, Salmond or Corbett
No lack of hope for the future as our rivals hang on by a thread with nothing more than b list celebs making silly hand gestures and in the process calling us fannies under their breaths

.... There's more. :D

No flour left in Gorgie!

[matty_f]

Less than no points.

[Eternal Hibbie]

No Hearts :):):)

Sent from my GT-I9300 using Tapatalk 2

[Lix]

(BN) Lithuanian Court Names Administrator for Hearts Owner, VZ S
ays


+------------------------------------------------------------------------------+


Lithuanian Court Names Administrator for Hearts Owner, VZ Says
2013-07-25 14:10:21.349 GMT




By Bryan Bradley
July 25 (Bloomberg) -- A Lithuanian court today started
bankruptcy proceedings against UBIG, the company controlled by
investor Vladimir Romanov and the majority owner of Heart of
Midlothian soccer club in Scotland, Verslo Zinios reported.
The district court in Kaunas appointed firm Insolvensa UAB
as UBIG’s administrator, the business newspaper reported, citing
a spokeswoman for the court. The decision can be appealed with
10 days, the newspaper said.
So is this the 'right' or the 'wrong' administrator?:confused:

Thought reports said 3 weeks til this happened, although I remember reading today was d day.

should get interesting now...

[Part/Time Supporter]

(BN) Lithuanian Court Names Administrator for Hearts Owner, VZ Says
+------------------------------------------------------------------------------+
Lithuanian Court Names Administrator for Hearts Owner, VZ Says
2013-07-25 14:10:21.349 GMT

By Bryan Bradley

July 25 (Bloomberg) -- A Lithuanian court today started bankruptcy proceedings against UBIG, the company controlled by investor Vladimir Romanov and the majority owner of Heart of Midlothian soccer club in Scotland, Verslo Zinios reported.

The district court in Kaunas appointed firm Insolvensa UAB as UBIG’s administrator, the business newspaper reported, citing a spokeswoman for the court. The decision can be appealed with 10 days, the newspaper said.

So is this the 'right' or the 'wrong' administrator?:confused:

Thought reports said 3 weeks til this happened, although I remember reading today was dday.

should get interesting now...

That's a different firm from the one liquidating Ukio (Valentas).

[green glory]

That's a different firm from the one liquidating Ukio (Valentas).

A little mud in the water can't be a bad thing?

[HFC 0-7]

No.

Rejecting an offer in that way would lead to liquidation. In a liquidation, they would get their share of whatever the market paid for the assets.

Couple of things, if they rejected it would BDO give the bidders another shot to see if they can come up with more dosh?

Lastly, the way I see it is that there isnt going to be a CVA as any bids less than the secured amount goes straight to Ukio so nothing left in the pot for a CVA? or, are these 2 million etc bids split, 1 million for secured creditor and 1 million for CVA?

[jgl07]

Couple of things, if they rejected it would BDO give the bidders another shot to see if they can come up with more dosh?

Lastly, the way I see it is that there isnt going to be a CVA as any bids less than the secured amount goes straight to Ukio so nothing left in the pot for a CVA? or, are these 2 million etc bids split, 1 million for secured creditor and 1 million for CVA?
Clearly there will not be a CVA until the size of the bid exceeds the value of the PBS as development site.

Then it will have to satisfy the administrators for UKIOS and UBIG. That all assumes that the Lithuanian Courts remove the embargo on the sale of UBIG assets.

That will probably take months if not years?

[Deansy]

Now you ask... Here's all we don't have....

No employees on the register...
No owner/former owner captured on YouTube slapping our players in the puss
No asbestos at Easter Road
No hole in the roof
No begging emails for players wages each month
No stupid Russian hats or talk of submarines and such like
No failed planning permission for stadium development
No linkage with Satan as a 'celebrity fan'
No chance of our failing to exist when the season kicks off next week
No laughing stock of football tag attached to us for five plus years of sheep like following and abject stupidity
No beautiful people adverts
No mandatory cake sales to pay staff wages
No players picked by fax machine
No silly claims of Brazilian word cup stars not materialising
No revolving door of managers in less than a decade
No liquidators
No maroon
No daft explayers leaving us and making a gig of themselves with shirt numbers for a team that will soon cease to be
No flats on our pitch
No failure to beat our local rivals at the last time of asking when it might be the last time ever
No gorgie
No Foulkes, Salmond or Corbett
No lack of hope for the future as our rivals hang on by a thread with nothing more than b list celebs making silly hand gestures and in the process calling us fannies under their breaths

.... There's more. :D

No Yam recently won 'WIMBLEDON' !!!!

[Sergey]

That's a different firm from the one liquidating Ukio (Valentas).

It was always going to be a different firm - I never had any doubts.

[CropleyWasGod]

Couple of things, if they rejected it would BDO give the bidders another shot to see if they can come up with more dosh?

Lastly, the way I see it is that there isnt going to be a CVA as any bids less than the secured amount goes straight to Ukio so nothing left in the pot for a CVA? or, are these 2 million etc bids split, 1 million for secured creditor and 1 million for CVA?

1. if the bids are miles away from what the Liths want, there's no point in giving them another shot. It would be a waste of money.

2. the bidders will have to specify how much is for the secured creditor(s), and how much for the unsecured through the CVA. So, in theory, someone could bid £1m for each.

[jacomo]

A typical Yam response might be

How can this be true? We have a foundation with an MP and everything, we have pledges that will never end, some of them are even from hearts fans.

The man is nowhere near a big enough crook for the big team, never will be a dear leader - what countries population has he ever robbed FFS?

Where is he getting the money from? bound to be dirty money and its not as if he is borrowing it from himself.

Not a single promise about Champions Leagues, megasuperhotelstadium, splitting the OF, Christ I bet he doesn't even know how to put a planning application into cardboard boxes.

Absolutely no evidence that he can dance or captain a submarine. We should just say we want someone more Yam minded - we can do that, can't we Mr Murray MP sir? after all we are a big team who won the cup and a war.

Maybe we should have got together earlier to form a committee to vet candidates and say who we want and at what price, if that Cowell guy can do it on X Factor there's no reason why we can't, we are bigger than X Factor.

I am really hoping that we haven't done all that baking only to find that the new Mr Kipling is some lightweight in the international money laundering and financial crime world, just not hearts class, I can't see him lasting any where near as long as Vlad in the international hide and seek game with the cops and the gangsters.

Brilliant if the best £ bid for the creditors is Massone..the end is nigh

Massone has said that his plan would see Hearts playing at Tynecastle for the next millennium - this is the kind of reasoned, highly practical promise that will get the Yams clamouring for him.

[hibees 7062]

:agree: I'm backing Massone all the way. He certainly meets my main criteria for investors in Hearts, in that he's clearly a crook only interested in asset stripping. Go for Angelo!!

Can we get banners and Tshirts made with this on them ?

[Sanger]

10 days would take them into new season. Although the Admins of Ukio/UBIG can still reject the pathetic offers unless Massone has capital or another way of funding club from Dec to end if season. Think admins would take Massone offer. BDO have then to decide if Massone can keep club going.

[Dashing Bob S]

Massone has said that his plan would see Hearts playing at Tynecastle for the next millennium - this is the kind of reasoned, highly practical promise that will get the Yams clamouring for him.

He's definitely shaping up to be the people's choice.

[Phil D. Rolls]

Massone has said that his plan would see Hearts playing at Tynecastle for the next millennium - this is the kind of reasoned, highly practical promise that will get the Yams clamouring for him.

Can he sail a submarine?

[Jack]

... and mind folks.

The next time you meet a jambo let them know about the 15,000+ tickets sold and with a big grin on your face say LOADSA MONEY - CAUSE WE ARE SO MUCH RICHER THAN YOUW

[--------]

Massone has said that his plan would see Hearts playing at Tynecastle for the next millennium - this is the kind of reasoned, highly practical promise that will get the Yams clamouring for him.


A Thousand-Year Reich?

The last one didn't last very long.

[Tollhouse Hibee]

So if they cant make a decision for 2 weeks, which then starts the season, do they just get to play in the SPFL without giving any assurances they will survive.

I wonder when Doncaster is going to grow a set of balls and actually make a statement on this, or has he been to busy re-branding us to match england??

[Leishy1995]

@STVSport: Hearts majority shareholder UBIG enters bankruptcy in Lithuania http://t.co/KlYSJUBeAt

[Keith_M]

@STVSport: Hearts majority shareholder UBIG enters bankruptcy in Lithuania http://t.co/KlYSJUBeAt


Oh good, that makes everything OK then.

[Leishy1995]

Oh good, that makes everything OK then.

I don't actually know what it means. Was hoping someone would explain the possibilities

[matty_f]

Should Hearts get another 15 point penalty now that their parent company has suffered an insolvency event?

[WhileTheChief..]

Hearts have told the SPFL that if they are not allowed to sign players they won't have enough of a squad to fulfil fixtures.

They are basically threatening to throw the league into chaos unless they are allowed to sign some players.

Supposedly Naysmith, Webster and Boyd are all ready to sign.

[Ozyhibby]

Should Hearts get another 15 point penalty now that their parent company has suffered an insolvency event?

It's the only way we are safe with Pat in charge. :-)

[green glory]

Should Hearts get another 15 point penalty now that their parent company has suffered an insolvency event?

No, I think they should get it just cos it'd be funny.

[#FromTheCapital]

Hearts have told the SPFL that if they are not allowed to sign players they won't have enough of a squad to fulfil fixtures.

They are basically threatening to throw the league into chaos unless they are allowed to sign some players.

Supposedly Naysmith, Webster and Boyd are all ready to sign.

Where did you hear this?

[chrisski33]

Who cares about hearts lets worry about hibs!

[Heisenberg]

Hearts have told the SPFL that if they are not allowed to sign players they won't have enough of a squad to fulfil fixtures.

They are basically threatening to throw the league into chaos unless they are allowed to sign some players.

Supposedly Naysmith, Webster and Boyd are all ready to sign.

They've got a full u20 squad to choose from...

[Leishy1995]

Who cares about hearts lets worry about hibs!

Me because what happens to our rivals is very important.

[clerriehibs]

Hearts have told the SPFL that if they are not allowed to sign players they won't have enough of a squad to fulfil fixtures.

They are basically threatening to throw the league into chaos unless they are allowed to sign some players.

Supposedly Naysmith, Webster and Boyd are all ready to sign.

Isn't that all the SPFL need to say "well, cheerio then"?

[Cabbage East]

Who cares about hearts lets worry about hibs!

You, since you came into a clearly marked thread about Hearts.

[21.05.2016]

Hearts have told the SPFL that if they are not allowed to sign players they won't have enough of a squad to fulfil fixtures.

They are basically threatening to throw the league into chaos unless they are allowed to sign some players.

Supposedly Naysmith, Webster and Boyd are all ready to sign.

Well the SPFL should grow a backbone and not let themselves be held to ransom by hearts!

[WhileTheChief..]

A mate of Naysmith.

Yeah the SPFL should boot them out now, but can / will they?

[Sanger]

I don't actually know what it means. Was hoping someone would explain the possibilities

It just means that the administrators of Ukio & UBIG can now jointly reject the joke CVAs and move straight to liquidation!

[BH Hibs]

Hearts have told the SPFL that if they are not allowed to sign players they won't have enough of a squad to fulfil fixtures.

They are basically threatening to throw the league into chaos unless they are allowed to sign some players.

Supposedly Naysmith, Webster and Boyd are all ready to sign.

Tell them to **** off then :bye::bye:

[StevieC]

Who cares about hearts lets worry about hibs!

Why view (and post on) a Hearts related thread then???? :confused:

[Andy74]

A mate of Naysmith.

Yeah the SPFL should boot them out now, but can / will they?

IF they are allowed to sign players at any stage it won't include players of the age of Naysmith so a very pointless exercise if they are hanging around waiting to sign. Best they can hope for is under 21 players from January.

[The Falcon]

It just means that the administrators of Ukio & UBIG can now jointly reject the joke CVAs and move straight to liquidation!


OR.......

one of the oft mentioned reasons that a sale could not take place was that UBIG did not have an administrator appointed. Now they do.

[WhileTheChief..]

Their argument is that they only have 20 players, 3 of which are goalies.

If they have a couple of injuries at any stage they then don't have enough players to make up a match day squad.

What can the league do other than allow some sort of concession?

[Hermit Crab]

@bbcscotfoot: Hearts: Lithuanian court declares parent company UBIG insolvent
http://t.co/4hhT9smX6g

[Gus Fring]

@bbcscotfoot: Hearts: Lithuanian court declares parent company UBIG insolvent
http://t.co/4hhT9smX6g

There is nothing to suggest at this stage that the assets will suddenly be unfrozen. The reason they were frozen in the first place was to stop them being sold off in an attempt to hide any wrongdoing. This doesn't change that. I expect nothing else from Brian Mclauchlin though, he's the one who told us just before the League Cup Final that Hearts were on the verge of being sold to a fans group.

He's a fat lying yam roaster, a slightly less mistaken Barry Anderson

[CropleyWasGod]

Should Hearts get another 15 point penalty now that their parent company has suffered an insolvency event?

We wish

Short answer is "naw". IIRC, the parent company provisions were introduced to prevent a club hiding behind its parent's insolvency, by shifting debt around.

[SHODAN]

Hearts have told the SPFL that if they are not allowed to sign players they won't have enough of a squad to fulfil fixtures.

They are basically threatening to throw the league into chaos unless they are allowed to sign some players.

Supposedly Naysmith, Webster and Boyd are all ready to sign.

So basically, what there's saying is "we demand that you don't punish us for cheating by signing players on inflated wages we can't afford and instead allow us to continue cheating by signing players on inflated wages we can't afford."

I think the SPFL's response will be something like this..

http://www.youtube.com/watch?v=gvdf5n-zI14

[Spike Mandela]

Their argument is that they only have 20 players, 3 of which are goalies.

If they have a couple of injuries at any stage they then don't have enough players to make up a match day squad.

What can the league do other than allow some sort of concession?

So three sanctions open to SFA after Hearts entering insolvency.

1. Fine.........Bryan Jackson " any financial penalty could be fatal for Hearts"

2. Extended registration embargo.........."hearts won't be able to fulfil fixtures"

3. Censure

Administrators playing a good game for the cheats I'll give them that.

I would like to think the SFA wouldn't be fooled by this blatant attempt at manipulating their sanction but I'm not so sure. An extended embargo should really be the order of the day as per Dunfermline(they can sign U 21s after all) but I have a feeling that a piddly little fine of £50k or so wouldn't be that damaging to Hearts currently as they would find a way to pay it so they might be backtracking there.

The SFA will find a punishment that isn't a punishment, that is their way.

[7062]

Their argument is that they only have 20 players, 3 of which are goalies.

If they have a couple of injuries at any stage they then don't have enough players to make up a match day squad.

What can the league do other than allow some sort of concession?

Let them play youth players. In theory, could a team not field a 15 year old if they thought he was good enough?

In their case though it would be a case of having to field him cos they've no other option.

[Stevie Reid]

New:Hearts' parent company insolvent (http://www.bbc.co.uk/sport/0/football/23462274)
Hearts' parent company UBIG is declared insolvent by a Lithuanian court, clearing the way for a sale of the club.


The heading on BBC's SPFL page.

[ballengeich]

1. Fine.........Bryan Jackson " any financial penalty could be fatal for Hearts"

2. Extended registration embargo.........."hearts won't be able to fulfil fixtures"



So they don't have any money to pay a fine, but do have money to pay additional players. Anyone see an inconsistency?

[CropleyWasGod]

OR.......

one of the oft mentioned reasons that a sale could not take place was that UBIG did not have an administrator appointed. Now they do.

... and the shares are still frozen.

[KWJ]

:cb
Let them play youth players. In theory, could a team not field a 15 year old if they thought he was good enough?

In their case though it would be a case of having to field him cos they've no other option.

How have other teams managed to do it? Hearts had a squad of 60+ not that long ago at all.

[brog]

Their argument is that they only have 20 players, 3 of which are goalies.

If they have a couple of injuries at any stage they then don't have enough players to make up a match day squad.

What can the league do other than allow some sort of concession?

Thats fine, to me they're saying they can't guarantee to fulfil their fixtures so they should be kicked out of the league. Luckily we now have a pyramid structure in place & the derby will happen in E of S against our U-20's! I think there would be uproar if they got away with this.

[The Falcon]

... and the shares are still frozen.

for now.................

[WhileTheChief..]

So basically, what there's saying is "we demand that you don't punish us for cheating by signing players on inflated wages we can't afford and instead allow us to continue cheating by signing players on inflated wages we can't afford."

I think the SPFL's response will be something like this..

http://www.youtube.com/watch?v=gvdf5n-zI14

Not what I'm saying mate, it's what Hearts are saying.

[CropleyWasGod]

for now.................

Do you think that the appointment of the administrator will persuade the Lith Government to unfreeze their assets?

[The Falcon]

Do you think that the appointment of the administrator will persuade the Lith Government to unfreeze their assets?

We are going to go round in circles because I am going to ask you if you are saying that it wont happen? The unfreezing I mean. And with you being a member of the dark profession you are going to a) sit on the fence or b) bill me then sit on the fence :greengrin. I have no idea what will happen but I am guessing that since UBIG not having an administrator appeared to be an obstacle and that obstacle is now removed so there is now someone to represent UBIG, therefore there is more chance now than there was two days ago for example, of UBIG's assets being disposed off.

[Prof. Shaggy]

Do you think that the appointment of the administrator will persuade the Lith Government to unfreeze their assets?

Isn't there a scenario in which the admins of both UB and UBIG try to do just that?
"We're short of x million Litas between us. These funny pink footballers in Edinburgh owe us £25 million of their Scottish pounds. We reckon we could get £3-4 million back if you let us sell the whole sorry mess to this nice gentleman from Italy. It's probably the best we can do."

[Gus Fring]

Isn't there a scenario in which the admins of both UB and UBIG try to do just that?
"We're short of x million Litas between us. These funny pink footballers in Edinburgh owe us £25 million of their Scottish pounds. We reckon we could get £3-4 million back if you let us sell the whole sorry mess to this nice gentleman from Italy. It's probably the best we can do."

You missed a bit off the end "Making the whole investigation into the dodgy dealings of said bank and investment group that much harder"

[CropleyWasGod]

We are going to go round in circles because I am going to ask you if you are saying that it wont happen? The unfreezing I mean. And with you being a member of the dark profession you are going to a) sit on the fence or b) bill me then sit on the fence :greengrin. I have no idea what will happen but I am guessing that since UBIG not having an administrator appeared to be an obstacle and that obstacle is now removed so there is now someone to represent UBIG, therefore there is more chance now than there was two days ago for example, of UBIG's assets being disposed off.

I was actually asking you because I thought you maybe had a different take:greengrin

I'm still not buying into the "we have an administrator. All is fine now." school of thought. That ball is in the Lith Government's court, not the UBIG administrator.

I will say that BJ CAN'T, at this moment, deal with the UBIG admin on the matter of the shares because the UBIG admin has no power over them.

That'll be a fiver please.... now help me get the splinters out my erse.


Isn't there a scenario in which the admins of both UB and UBIG try to do just that?
"We're short of x million Litas between us. These funny pink footballers in Edinburgh owe us £25 million of their Scottish pounds. We reckon we could get £3-4 million back if you let us sell the whole sorry mess to this nice gentleman from Italy. It's probably the best we can do."

... at which point the Lith Government might say. "No.... we think there's a lot more to be uncovered throughout the companies and their assets. Now go away and find us £250m".

[Gus Fring]

Just caught up on the thread. I've just been told the authorities have had no dialogue with Hearts or BDO about being allowed to sign new players. Minimum matchday squad is 14 I believe and the maximum is 18. No decision has been made about further punishments either. It's difficult to convey on a message board but the feeling I get from within the "corridors of power" just now is one of anger at Hearts. They still have to be able to make any punishment stick, though. The best thing they can do just now is step back and let Hearts/BDO get on with it.

[Spike Mandela]

Just caught up on the thread. I've just been told the authorities have had no dialogue with Hearts or BDO about being allowed to sign new players. Minimum matchday squad is 14 I believe and the maximum is 18. No decision has been made about further punishments either. It's difficult to convey on a message board but the feeling I get from within the "corridors of power" just now is one of anger at Hearts. They still have to be able to make any punishment stick, though. The best thing they can do just now is step back and let Hearts/BDO get on with it.

I wish posts had a 'like' option.:greengrin

[Ozyhibby]

Just caught up on the thread. I've just been told the authorities have had no dialogue with Hearts or BDO about being allowed to sign new players. Minimum matchday squad is 14 I believe and the maximum is 18. No decision has been made about further punishments either. It's difficult to convey on a message board but the feeling I get from within the "corridors of power" just now is one of anger at Hearts. They still have to be able to make any punishment stick, though. The best thing they can do just now is step back and let Hearts/BDO get on with it.

Why were they allowed to ask Livingston for a bond and not Hearts?

[CropleyWasGod]

Why were they allowed to ask Livingston for a bond and not Hearts?

Livingston were in the SFL at the time. Different organisation.

That said, the SPFL may go down that route. We don't know what has been discussed between them. I don't even know if they have that power.

[s.a.m]

Why were they allowed to ask Livingston for a bond and not Hearts?

Different league setup / different rules ?
Plus - clubs less likely to have the financial whereabouts or inclination to pursue legal action?

[HibeeMG]

Isn't there a scenario in which the admins of both UB and UBIG try to do just that?
"We're short of x million Litas between us. These funny pink footballers in Edinburgh owe us £25 million of their Scottish pounds. We reckon we could get £3-4 million back if you let us sell the whole sorry mess to this nice gentleman from Italy. It's probably the best we can do."

£25 million? Try £65 million!

These guys will know the full extent of the cost to the Lithuanian tax-payer of Romanov's time at Hearts.

[Sanger]

£25 million? Try £65 million!

These guys will know the full extent of the cost to the Lithuanian tax-payer of Romanov's time at Hearts.
Exactly - £2m and a few cakes will cut no ice with the Liths who picked up £200m bill for Romanov's exploits!

[Kaiser1962]

£25 million? Try £65 million!

These guys will know the full extent of the cost to the Lithuanian tax-payer of Romanov's time at Hearts.

The costs I get are as follows

Cost to aquire shares £4.3m; Losses over period £33.8m; debt forgiveness £18.7m; inter co transaction £3.9m and current debt (to UBIG and UKIO) £25m which totals £85.7m. There will be more debt but we dont know what that is and can only guess at this time.

The unknown is what Vlad's original deal did with the original debt but if you subtract the known two DFE swaps of £22m from the known losses of £33.8m it only leaves £11.8m, around £8m less than the debt of £19.6m at takeover.

Or is it not that simple?

[Hibbyradge]

I wish posts had a 'like' option.:greengrin

http://cultureslurp.com/wp-content/uploads/2011/09/Facebook-Like-Button.jpg

[Spike Mandela]

http://cultureslurp.com/wp-content/uploads/2011/09/Facebook-Like-Button.jpg

I want to 'like' this post but I can't.:greengrin

[rcarter1]

So they don't have any money to pay a fine, but do have money to pay additional players. Anyone see an inconsistency?

Belting point. :top marks

Let them sign as many players they want to.

Then fine them proper.

Then punt them.

[jacomo]

So they don't have any money to pay a fine, but do have money to pay additional players. Anyone see an inconsistency?

They're at it, obviously.

Next season poses all sorts of problematic scenarios, here's another one prompted by your post: say Hearts lose their first 4 or 5 games (even the derby! :wink:) and consider the campaign a write off in September. They may then start refusing to fulfill fixtures due to "injuries" - they forfeit the game but don't care because they are certs to be relegated anyway and are acting out of spite.

Given the lack of accountability and humility over by, it wouldn't surprise me if they start playing the victim card. Diet Huns, all the way.

[Prof. Shaggy]

You missed a bit off the end "Making the whole investigation into the dodgy dealings of said bank and investment group that much harder"

But does it really make it any harder? The point of freezing the assets, I assume, was to prevent VR from taking steps to protect or obscure his own position. Now that the admins are in place and have access to the documents...




... at which point the Lith Government might say. "No.... we think there's a lot more to be uncovered throughout the companies and their assets. Now go away and find us £250m".

Of course they might, and I hope they will, but I just wonder if the actual shares themselves help to uncover anything useful to them...


£25 million? Try £65 million!

These guys will know the full extent of the cost to the Lithuanian tax-payer of Romanov's time at Hearts.

Yes, of course they will, but it's far from certain they'll consider the remaining £40m as recoverable. When everything's said and done, they're going to get what a buyer is willing to pay...

All of the above in the interests of devil's advocacy, you understand!:greengrin

[Onion]

Hearts have told the SPFL that if they are not allowed to sign players they won't have enough of a squad to fulfil fixtures.

They are basically threatening to throw the league into chaos unless they are allowed to sign some players.

Supposedly Naysmith, Webster and Boyd are all ready to sign.

Ok, they can have their pick from our lot for starters.

[Onion]

So basically, what there's saying is "we demand that you don't punish us for cheating by signing players on inflated wages we can't afford and instead allow us to continue cheating by signing players on inflated wages we can't afford."

I think the SPFL's response will be something like this..

http://www.youtube.com/watch?v=gvdf5n-zI14

So they are in effect asking the SPFL to LEND them money to buy some players :crazy: Maybe all clubs could do this when they next are hit with a fine... see that money we owe you, tell you what... think we'll just use that to buy some more players instead... otherwise we're no playing :rolleyes:

[Sanger]

But does it really make it any harder? The point of freezing the assets, I assume, was to prevent VR from taking steps to protect or obscure his own position. Now that the admins are in place and have access to the documents...



Of course they might, and I hope they will, but I just wonder if the actual shares themselves help to uncover anything useful to them...



Yes, of course they will, but it's far from certain they'll consider the remaining £40m as recoverable. When everything's said and done, they're going to get what a buyer is willing to pay...

All of the above in the interests of devil's advocacy, you understand!:greengrin

They don't consider the other £40m recoverable or most of the £25m but they ain't going to accept £2m when they can get at least double selling Tynie.

[Prof. Shaggy]

They don't consider the other £40m recoverable or most of the £25m but they ain't going to accept £2m when they can get at least double selling Tynie.

With the respect that is due from someone whose knowledge and understanding of insolvency practice could be written on the back of a fag packet with a paint brush, that's not my point.

I'm trying to explore the issue raised by BDO that they can't resolve the issue of Hearts' ownership until UBIG's admin is appointed. Are there conditions in which an administrator can petition the Government's Financial Authorities to have these assets un-frozen and, possibly, disposed of through a CVA, and do BDO have any reason to expect this will happen?

[Alfred E Newman]

Am I the only one that is getting bored with this thread? We have just suffered one of the worst results in our history and this stuff is still on the 1st page.