Share Transfers Agreed/Cooling off period

[Springbank]

:agree:

How many acres does the Wongadome site take up? I see that the completely independent council report estimated 12-16 acres for a new stadium site, but can't find any reference to the existing size. Befittingly big, obviously, but how big approximately? :dunno:

You couldn't make this up (it was tweeted by @twistedtartan round new year) the area of tynecastle is 0.7 ha

Easter road is much bigger as befits the stadium in the capital with the record attendance (while we're on the subject of size)

[LeithBoozy]

I still don't fully understand, If Locke gets found not guilty. They are self sufficient and only owe it to themselves. What does all this talk about creditors and liquidation mean. :confused:

[Springbank]

Evening News Sport ‏@edinburghsport 3m (https://twitter.com/edinburghsport/status/362158831532380160) Hearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk (http://t.co/7QULtLmmXD)


Former chairman George Foulkes said the blanket brush-off was akin to “horse trading” and warned that driving the club to extinction was a dysfunctional financial gamble.
He said: “I’m a big fan of Dad’s Army and as Lance-
Corporal Jones would say ‘Don’t panic!’. We are not at the stage of Private Fraser’s ‘We’re doomed’ and in my view this is all part of normal negotiating procedure.
“It’s the Foundation and the Massone bid which the Lithuanian administrators are using to try to get as much as they can out of the administration process. Now is the time for more people to come in and back the Foundation of Hearts.
“If there is a gap between what the Lithuanian administrator wants and what’s been offered, the Foundation will be more able to bridge that gap if more people get involved.”
He added: “The one thing the administrators have to realise is that if the club goes into liquidation they won’t get more, they will get less.
“The only people who can make profitable use of the asset is the football club. It’s not like the old situation [in 2004] when Cala Homes were willing to pay a huge amount of money to build flats.
“The property market has collapsed and the number of empty properties in Edinburgh enormous. There is an availability of land, particularly around Fountainbridge where you can find acres and acres of empty space, so liquidation will be a fire sale and is going to make less. They are better selling it as a going concern.”




:faf::faf::faf::faf: Foulkes ya ****in roaster

Just as well Lord Foulkes isn't an advisor to any serious property developers

They may gently point out to him that while land sold at the peak of the market is still financially stuck (the old tartan club site for example) you'll find dozens of examples in Edinburgh (sometimes right next door to stalled sites) where land deals are going through and construction is not far off 2006 levels in Edinburgh.

Where are these?

Try fountainbridge (former brewery site) student housing
Try fairmilehead - 277 homes
Try kirkliston - village doubling in size
Try murrayfield - old s&n hq
Try the lochend butterfly behind ER - lots underway and nearing completion

What do they have in common - land deals since 2010 where there is huge appetite fit land in Edinburgh if it is priced sensibly

[Hibernia&Alba]

Evening News Sport ‏@edinburghsport3m (https://twitter.com/edinburghsport/status/362158831532380160)Hearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk (http://t.co/7QULtLmmXD)


Former chairman George Foulkes said the blanket brush-off was akin to “horse trading” and warned that driving the club to extinction was a dysfunctional financial gamble.
He said: “I’m a big fan of Dad’s Army and as Lance-
Corporal Jones would say ‘Don’t panic!’. We are not at the stage of Private Fraser’s ‘We’re doomed’ and in my view this is all part of normal negotiating procedure.
“It’s the Foundation and the Massone bid which the Lithuanian administrators are using to try to get as much as they can out of the administration process. Now is the time for more people to come in and back the Foundation of Hearts.
“If there is a gap between what the Lithuanian administrator wants and what’s been offered, the Foundation will be more able to bridge that gap if more people get involved.”
He added: “The one thing the administrators have to realise is that if the club goes into liquidation they won’t get more, they will get less.
“The only people who can make profitable use of the asset is the football club. It’s not like the old situation [in 2004] when Cala Homes were willing to pay a huge amount of money to build flats.
“The property market has collapsed and the number of empty properties in Edinburgh enormous. There is an availability of land, particularly around Fountainbridge where you can find acres and acres of empty space, so liquidation will be a fire sale and is going to make less. They are better selling it as a going concern.”



:faf::faf::faf::faf: Foulkes ya ****in roaster

Auld pishy troosers has had a complete mental collapse because of all this. Reduced to wandering around Edinburgh mumbling to himself, carrying a Farmfoods carrier bag and drinking spirits at bus stops, telling strangers he used to be somebody important. Tragic. :lolyam:

[clerriehibs]

How in the name of **** did that halfwit get a peerage?!

:dunno:

It was actually an angry piss, ie pee rage.

[lapsedhibee]

You couldn't make this up (it was tweeted by @twistedtartan round new year) the area of tynecastle is 0.7 ha

Easter road is much bigger as befits the stadium in the capital with the record attendance (while we're on the subject of size)

0.7 ha is the size of the pitch, I guess, but what about the asbestos sheds and that? :dunno:

[Sergio sledge]

You couldn't make this up (it was tweeted by @twistedtartan round new year) the area of tynecastle is 0.7 ha

Easter road is much bigger as befits the stadium in the capital with the record attendance (while we're on the subject of size)

That'll be the size of the pitch, that's about 70m x 100m. Including stands etc, it'll be bigger than that.

[Springbank]

0.7 ha is the size of the pitch, I guess, but what about the asbestos sheds and that? :dunno:

Agh spot on

ER is 0.85ha for the pitch

No info on land take of the remainder im afraid

[Hibernia&Alba]

That'll be the size of the pitch, that's about 70m x 100m. Including stands etc, it'll be bigger than that.

Not for long :greengrin

[clerriehibs]

http://m.scotsman.com/sport/football/spfl/stuart-bathgate-hearts-liquidation-threat-is-real-1-3020961

A warning to the Lithuanians.

Is the photo attached to that story a photo-shop, a coincidence or a f&%ing brlliant hibee wind-up?!?!?

[Caversham Green]

Keep believing ya pish stained jakey.

10732

That picture's just crying out for a photoshopper to change the last four letters to 'lend'.

[Gettin' Auld]

That picture's just crying out for a photoshopper to change the last four letters to 'lend'.

:thumbsup:

[PapillonVert]

Surely the Lithuanians have months of untangling the UKIO/UBIG mess?

They may be tempted to postpone the recovery of this paltry amount if homfc can claim to expect a full season of trading, in the hope another, better suitor comes along?

I wonder if the Lithuanians have someone already in the background who is not interested in the football club but just getting a hold of the land?

Hence the hint about millions more being needed and the underlying hint of those millions being forthcoming tout de suite - or else.

Just wondered. After all, if you were only interested in the land, why pfaff around with the administrators of HMFC and all this 'going concern' nonsense rather than go straight to the Lithuanians who are the real decision makers and let them know you are ready to buy and pay x amount if it's a liquidation sale? Tactically, you would also want to see the liquidation in process asap hence the pressure on BDO to move things along.

That way the Lithuanians can force FoH and Massone either to come up with a much better offer prontissimo or they proceed straight to liquidation.

Not much reason to hang around whilst BDO and FoH count the pennies and halfpennies in the kiddies' piggybanks and try to sell half-stale buns for ten a penny and still be millions short when you could get your hands on some real cash through a liquidation sale.

[The Green Goblin]

http://m.scotsman.com/sport/football/spfl/stuart-bathgate-hearts-liquidation-threat-is-real-1-3020961

A warning to the Lithuanians.

That pish from the same man who tweeted in agreement with Ian (I'm an MP) Murray a few weeks back that in spite of everything, 5-1 made it all "worth it".

Complete roasters.

[cocopops1875]

It's alright! Hang off on the Doomsday predictions! The Hibs tickets are selling well and they're having a "Trial of Gary Locke" in the Gorgie Suite this coming Monday where tickets are £10 each!

#allisonceagainbarry...

Don't forget the Foo Fighters gig too

[clerriehibs]

I wonder if the Lithuanians have someone already in the background who is not interested in the football club but just getting a hold of the land?

Hence the hint about millions more being needed and the underlying hint of those millions being forthcoming tout de suite - or else.

Just wondered. After all, if you were only interested in the land, why pfaff around with the administrators of HMFC and all this 'going concern' nonsense rather than go straight to the Lithuanians who are the real decision makers and let them know you are ready to buy and pay x amount if it's a liquidation sale? Tactically, you would also want to see the liquidation in process asap hence the pressure on BDO to move things along.

That way the Lithuanians can force FoH and Massone either to come up with a much better offer prontissimo or they proceed straight to liquidation.

Not much reason to hang around whilst BDO and FoH count the pennies and halfpennies in the kiddies' piggybanks and try to sell half-stale buns for ten a penny and still be millions short when you could get your hands on some real cash through a liquidation sale.

good points, well made, I'll sleep better tonight!

[Matt92]

Evening News Sport ‏@edinburghsport3m (https://twitter.com/edinburghsport/status/362158831532380160)Hearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk (http://t.co/7QULtLmmXD)


Former chairman George Foulkes said the blanket brush-off was akin to “horse trading” and warned that driving the club to extinction was a dysfunctional financial gamble.
He said: “I’m a big fan of Dad’s Army and as Lance-
Corporal Jones would say ‘Don’t panic!’. We are not at the stage of Private Fraser’s ‘We’re doomed’ and in my view this is all part of normal negotiating procedure.
“It’s the Foundation and the Massone bid which the Lithuanian administrators are using to try to get as much as they can out of the administration process. Now is the time for more people to come in and back the Foundation of Hearts.
“If there is a gap between what the Lithuanian administrator wants and what’s been offered, the Foundation will be more able to bridge that gap if more people get involved.”
He added: “The one thing the administrators have to realise is that if the club goes into liquidation they won’t get more, they will get less.
“The only people who can make profitable use of the asset is the football club. It’s not like the old situation [in 2004] when Cala Homes were willing to pay a huge amount of money to build flats.
“The property market has collapsed and the number of empty properties in Edinburgh enormous. There is an availability of land, particularly around Fountainbridge where you can find acres and acres of empty space, so liquidation will be a fire sale and is going to make less. They are better selling it as a going concern.”




:faf::faf::faf::faf: Foulkes ya ****in roaster


Its not like the biggest and the best developers have ridden out the recession, are quickly recouping their share prices and are on the prowl for development sites given how dirt cheap they can get them. What better a place to get an absolute bargain, cut-price development than to buy from an institution on its knees run by administrators begging for money? It would also be great PR for them with such a high-profile development (e.g. Arsenals Highbury flat development).
Cala, Persimmon, Miller, Barrats, Hammerson and a host of Edinburgh development companies would be able to afford many millions more than any of the pathetic consortium's are currently bidding.

Whether the deluded idiots over the road like it or not, the administrators and current owners of the club do not give one single flying **** about Heart of Midlothian Football Club. In Lithuania (and everywhere else outside of the UK) they are absolute nobodies who these businessmen have no affiliation or feelings about. As soon as a good bid, even an unofficial approach comes in, boom, bye bye Hearts.
They will compare themselves to Rangers, except their fanbase is -20x and they have no valuable assets worth keeping as a footballing complex since they rent from a university and their stadium is crumbling around them.

I genuinely cannot see how keeping the club alive is in the best interest of their creditors who have already been shafted a few for millions.

[Springbank]

Its not like the biggest and the best developers have ridden out the recession, are quickly recouping their share prices and are on the prowl for development sites given how dirt cheap they can get them. What better a place to get an absolute bargain, cut-price development than to buy from an institution on its knees run by administrators begging for money? It would also be great PR for them with such a high-profile development (e.g. Arsenals Highbury flat development).
Cala, Persimmon, Miller, Barrats, Hammerson and a host of Edinburgh development companies would be able to afford many millions more than any of the pathetic consortium's are currently bidding.

Whether the deluded idiots over the road like it or not, the administrators and current owners of the club do not give one single flying **** about Heart of Midlothian Football Club. In Lithuania (and everywhere else outside of the UK) they are absolute nobodies who these businessmen have no affiliation or feelings about. As soon as a good bid, even an unofficial approach comes in, boom, bye bye Hearts.
They will compare themselves to Rangers, except their fanbase is -20x and they have no valuable assets worth keeping as a footballing complex since they rent from a university and their stadium is crumbling around them.

I genuinely cannot see how keeping the club alive is in the best interest of their creditors who have already been shafted a few for millions.

Bullseye

[Hank Schrader]

Anyone else notice Rollands comment on the latest EEN article? Stating that both Lithuanian admins would join forces to agree a deal with the preferred bidder and that Hearts would start the season debt free with a fully invested squad, albeit with minus 15 points. Yes, all this will happen by Saturday. :aok:

Does Rolland have a show on at this years Edinburgh Fringe Festival? I would be surprised if he didn't, the guy is absolutely hilarious.

[Treadstone]

Anyone else notice Rollands comment on the latest EEN article? Stating that both Lithuanian admins would join forces to agree a deal with the preferred bidder and that Hearts would start the season debt free with a fully invested squad, albeit with minus 15 points. Yes, all this will happen by Saturday. :aok:

Does Rolland have a show on at this years Edinburgh Fringe Festival? I would be surprised if he didn't, the guy is absolutely hilarious.

Season starts on Friday.:thumbsup:

[Hibee87]

Its not like the biggest and the best developers have ridden out the recession, are quickly recouping their share prices and are on the prowl for development sites given how dirt cheap they can get them. What better a place to get an absolute bargain, cut-price development than to buy from an institution on its knees run by administrators begging for money? It would also be great PR for them with such a high-profile development (e.g. Arsenals Highbury flat development).
Cala, Persimmon, Miller, Barrats, Hammerson and a host of Edinburgh development companies would be able to afford many millions more than any of the pathetic consortium's are currently bidding.

Whether the deluded idiots over the road like it or not, the administrators and current owners of the club do not give one single flying **** about Heart of Midlothian Football Club. In Lithuania (and everywhere else outside of the UK) they are absolute nobodies who these businessmen have no affiliation or feelings about. As soon as a good bid, even an unofficial approach comes in, boom, bye bye Hearts.
They will compare themselves to Rangers, except their fanbase is -20x and they have no valuable assets worth keeping as a footballing complex since they rent from a university and their stadium is crumbling around them.

I genuinely cannot see how keeping the club alive is in the best interest of their creditors who have already been shafted a few for millions.

One of your said compaines I work for, i dont think they plan to bid....however a quick chat with one of the devolpment directors puts a value on the land between 9 - 12 million, said around 10 mil would be his estimate of an acceptable bid.

[lapsedhibee]

One of your said compaines I work for, i dont think they plan to bid....however a quick chat with one of the devolpment directors puts a value on the land between 9 - 12 million, said around 10 mil would be his estimate of an acceptable bid.

£10m! That's only about a paragraph of work for that fiction writer that's got a soft spot for the yams (no, not Southern/Bathgate/Anderson - I mean Jakey Rolling).

She'll just buy it and give it back to them, or they'll owe it to herself, or somesuch. It looks like they're going to get away with everything Scot free.

[Seveno]

What I would like to know is ...... do our Admin guys have plans for additional servers to cope with the flood of posts when the Big L happens ?

[Coco Bryce]

They lot are going nowhere!

The FOH are coming back in with a much improved offer.

#allisbarry

[Hibernia&Alba]

What I would like to know is ...... do our Admin guys have plans for additional servers to cope with the flood of posts when the Big L happens ?

Back up generator is ready to go. The national grid is gonna light up like a Christmas tree :thumbsup:

[Treadstone]

That pish from the same man who tweeted in agreement with Ian (I'm an MP) Murray a few weeks back that in spite of everything, 5-1 made it all "worth it".

Complete roasters.

#allisbathgate

[AndyM_1875]

Anyone else notice Rollands comment on the latest EEN article? Stating that both Lithuanian admins would join forces to agree a deal with the preferred bidder and that Hearts would start the season debt free with a fully invested squad, albeit with minus 15 points. Yes, all this will happen by Saturday. :aok:

Does Rolland have a show on at this years Edinburgh Fringe Festival? I would be surprised if he didn't, the guy is absolutely hilarious.

Rolland really is a prize plum and a :trumpet: of epic proportions.

Another roaster of epic propertions is Falkirk Jambo, a slavering gibbering buffoon of a man.

[AinsterHibs]

Rolland really is a prize plum and a :trumpet: of epic proportions.

Another roaster of epic propertions is Falkirk Jambo, a slavering gibbering buffoon of a man.

Not to mention wereheretostay and weefordy, complete cheese quavers - they bite at every opportunity.

[Makaveli]

I see Murray has the begging bowl out again for more pledges.

November 2012: "If we could harness 25,000 Hearts fans, and we think we can, paying £10 a month then that's £250,000 a month coming in."

July 2013: "The Foundation’s bid is by far the most transparent of the remaining two and has backing from around 5500 Hearts fans."


:lolyam:

[7062]

I see Murray has the begging bowl out again for more pledges.

November 2012: "If we could harness 25,000 Hearts fans, and we think we can, paying £10 a month then that's £250,000 a month coming in."

July 2013: "The Foundation’s bid is by far the most transparent of the remaining two and has backing from around 5500 Hearts fans."


:lolyam:

5500?? Is the number getting smaller? Thought they had over 6000.

[The Green Goblin]

5500?? Is the number getting smaller? Thought they had over 6000.


A mere fraction of the global interest they have the potential to harness. :faf:

[Makaveli]

5500?? Is the number getting smaller? Thought they had over 6000.

The 5500 figure is from today's Banderson article (http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-administration-battle-for-club-continues-1-3021343).

[McSwanky]

Here's an understatement:

5,500 < 25,000

[21.05.2016]

I see Murray has the begging bowl out again for more pledges.

November 2012: "If we could harness 25,000 Hearts fans, and we think we can, paying £10 a month then that's £250,000 a month coming in."

July 2013: "The Foundation’s bid is by far the most transparent of the remaining two and has backing from around 5500 Hearts fans."


:lolyam:

What happened to the 400,000 fanbase they claimed to have :confused: :ostrich::jamboclow

[7062]

The 5500 figure is from today's Banderson article (http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-administration-battle-for-club-continues-1-3021343).

On 18/07 they were 'on their way to 6,000'. Maybe that's where I got that number.

http://m.edinburghnews.scotsman.com/sport/football/hearts/hearts-administration-foundation-bid-best-murray-1-3006053

[greenpaper55]

Rolland really is a prize plum and a :trumpet: of epic proportions.

Another roaster of epic propertions is Falkirk Jambo, a slavering gibbering buffoon of a man.

I can beat that, remember thon VictorIan that used to back up Vlad at every opportunity, he must be in a straight jacket somewhere !.

[Sergey]

I can beat that, remember thon VictorIan that used to back up Vlad at every opportunity, he must be in a straight jacket somewhere !.

He did speak some pish :agree:

[Zondervan]

The EEN photographer credited with the photo is a Hibby. And a genius!

[HibbySpurs]

He did speak some pish :agree:

I always thought VictorIan had to be a Hibby at the wind up:greengrin

[Prof. Shaggy]

Why would they let them build a new school next to it if it was unsafe at all?

If a housing developer wasn't given permission to build by the council could they appeal this in the courts? Sounds to me like the council are trying to move the goalposts to suit their agenda.

They might even take it to the Local Authority Ombudsman.
:wink:

[21.05.2016]

"Sporting integrity is beyond purchase"

Exactly, that moral less, corrupt grotty little laughing stock of a club have cheated for years to gain advantage over other clubs playing within the rules and for that they deserve every punishment they get.

[jgl07]

The might even take it to the Local Authority Ombudsman.
:wink:

No you would appeal the refusal of the planning application to the secretary of state.

Most dubious refusals will be overturned on appeal.

[CyberSauzee]

He did speak some pish :agree:

He did like you though ;-)

[Prof. Shaggy]

No you would appeal the refusal of the planning application to the secretary of state.

Most dubious refusals will be overturned on appeal.

I know, but does the secretary of state attend games at ER? :greengrin

[Arch Stanton]

Wouldn't UKIO get it's best deal by selling the club as a going concern but keep hold of the ground?
They could offer a 2-year lease to the club as an interim measure. Since both the ground and the club have value then separating the two would get them a better return I'm sure.

[greenlex]

Wouldn't UKIO get it's best deal by selling the club as a going concern but keep hold of the ground?
They could offer a 2-year lease to the club as an interim measure. Since both the ground and the club have value then separating the two would get them a better return I'm sure.
Ukio will cease to exist at the end of the process so investing isnt in the remit.

[CropleyWasGod]

Wouldn't UKIO get it's best deal by selling the club as a going concern but keep hold of the ground?
They could offer a 2-year lease to the club as an interim measure. Since both the ground and the club have value then separating the two would get them a better return I'm sure.

They need cash. The sooner, the better.

[hibees 7062]

Rolland really is a prize plum and a :trumpet: of epic proportions.

Another roaster of epic propertions is Falkirk Jambo, a slavering gibbering buffoon of a man.

And Tristan . Larry , Curly and Mo :greengrin

[SunshineOnLeith]

They need cash. The sooner, the better.


The first part of his post is valid though, they could sell the two parts separately and leave whoever buys the club with the problem of finding a ground. If they could then quickly agree a groundshare with someone they could, at least on the face of it, fulfill their fixtures.

[CropleyWasGod]

The first part of his post is valid though, they could sell the two parts separately and leave whoever buys the club with the problem of finding a ground. If they could then quickly agree a groundshare with someone they could, at least on the face of it, fulfill their fixtures.

Not getting you.

He said "Wouldn't UKIO get it's best deal by selling the club as a going concern but keep hold of the ground? "

Firstly, UKIO don't own the ground. Secondly, they wouldn't want it. They want cash.

Or have I misunderstood your point?

[robinp]

The first part of his post is valid though, they could sell the two parts separately and leave whoever buys the club with the problem of finding a ground. If they could then quickly agree a groundshare with someone they could, at least on the face of it, fulfill their fixtures.

But who in their right mind is going to pay multiple millions for a club with no ground to play their ganes and a circa £500k season rent to then find.

[clerriehibs]

When BDO have to call it a day and announce homfc have to be liquidated, is that it? Do the doors close immediately?

[CropleyWasGod]

When BDO have to call it a day and announce homfc have to be liquidated, is that it? Do the doors close immediately?

The company has to cease trading, so yes.

[PatHead]

Some of them really don't get it do they? Kickback-Ugly American, on 30 July 2013 - 02:30 AM, said:A century of tradition
A rabid fan base
Biggest club in the 14th largest metro area in the UK
A dedicated effort by the supporters to buy the club and invest in it
A stadium as atmospheric as any in Britain

It will take some years, but I still see glory days for us again. Provided FoH get a hold of the club, some time in my lifetime, hopefully in the next decade, Hearts will finish top of the table in the top tier.

I really don't have that much doubt about this, actually.

[soproni1]

Some of them really don't get it do they? Kickback-Ugly American, on 30 July 2013 - 02:30 AM, said:A century of tradition
A rabid fan base
Biggest club in the 14th largest metro area in the UK
A dedicated effort by the supporters to buy the club and invest in it
A stadium as atmospheric as any in Britain

It will take some years, but I still see glory days for us again. Provided FoH get a hold of the club, some time in my lifetime, hopefully in the next decade, Hearts will finish top of the table in the top tier.

I really don't have that much doubt about this, actually.


Surely this guy is not for real

[Hibs07p]

Trying to find the SPFL rules and regulations regarding the pinkies across the road starting a season in administration and then being liquidated. All there is is this http://www.spfl.co.uk/ , a website under construction. What rules are hertz covered by? After the rebranding last week you would think it would be all systems go, but apparently not.

GGTTH

[SunshineOnLeith]

Not getting you.

He said "Wouldn't UKIO get it's best deal by selling the club as a going concern but keep hold of the ground? "

Firstly, UKIO don't own the ground. Secondly, they wouldn't want it. They want cash.

Or have I misunderstood your point?

I've probably made a hash of it due to posting from a phone but, forgiving the point of who owns the place, the statement that the two can be separated is correct. No way they'd hold it as an investment or lease it back to the club though. But a property developer might prefer to acquire solely the land as an asset, rather than having to go through the hassle of dealing with winding up the club etc.

The company could then be sold, probably for a remarkably similar amount as BDO's fees, to FoH. Thereby avoiding a Newco scenario.

Essentially: security gets called in, tynecastle is sold, remaining company gets sold to the foundation, livi/SRU/us get a nice payday through a groundshare.

[Springbank]

Some of them really don't get it do they? Kickback-Ugly American, on 30 July 2013 - 02:30 AM, said:A century of tradition
A rabid fan base
Biggest club in the 14th largest metro area in the UK
A dedicated effort by the supporters to buy the club and invest in it
A stadium as atmospheric as any in Britain

It will take some years, but I still see glory days for us again. Provided FoH get a hold of the club, some time in my lifetime, hopefully in the next decade, Hearts will finish top of the table in the top tier.

I really don't have that much doubt about this, actually.

I took a Londoner relative of mine to a derby at Tynecastle.

He thought it was a weird pokey little stadium, like Fratton Park - the kind of grounds that remind you why football had to change. He didn't know whether to be nostalgic or to duck to avoid all the asbestos...and that was from the corner of the Roseburn next to the Wheatfield :)

[Arch Stanton]

Not getting you.

He said "Wouldn't UKIO get it's best deal by selling the club as a going concern but keep hold of the ground? "

Firstly, UKIO don't own the ground. Secondly, they wouldn't want it. They want cash.

Or have I misunderstood your point?

Agreed that UKIO administrators wouldn't want the ground - getting the biggest return for the creditors is their remit - why would they want to rush getting their hands on cash?

And "keep hold of the ground" was just a clumsy way of saying that the two would be sold separately.

[CropleyWasGod]

I've probably made a hash of it due to posting from a phone but, forgiving the point of who owns the place, the statement that the two can be separated is correct. No way they'd hold it as an investment or lease it back to the club though. But a property developer might prefer to acquire solely the land as an asset, rather than having to go through the hassle of dealing with winding up the club etc.

The company could then be sold, probably for a remarkably similar amount as BDO's fees, to FoH. Thereby avoiding a Newco scenario.

Essentially: security gets called in, tynecastle is sold, remaining company gets sold to the foundation, livi/SRU/us get a nice payday through a groundshare.

It's feasible, but a couple of points get in the way.

1. UBIG would want their pound of flesh as well, so it wouldn't just be BDO's fees that would be paid through a sale of the company. I don't think FOH (or at least their backers) would be keen on paying that much for just the club's name.

2. there still remains the issue of the frozen assets.


Agreed that UKIO administrators wouldn't want the ground - getting the biggest return for the creditors is their remit - why would they want to rush getting their hands on cash?

And "keep hold of the ground" was just a clumsy way of saying that the two would be sold separately.

They wouldn't necessarily be rushing, but they have to get it in as quickly as possible. Like BDO, they have to be mindful of their own costs racking up.

[Arch Stanton]

But who in their right mind is going to pay multiple millions for a club with no ground to play their ganes and a circa £500k season rent to then find.

It's not such a mind boggling concept for a company to lease premises - sometimes selling the premises to a lease-back company to achieve this.

If anyone buys Hearts they will effectively be buying two things - the club and the ground. All I was saying that the UKIO administrators may get better value by selling separately. I'm not making a big deal over this but I reckon it is a possibility.

[Liberal Hibby]

It's not such a mind boggling concept for a company to lease premises - sometimes selling the premises to a lease-back company to achieve this.

If anyone buys Hearts they will effectively be buying two things - the club and the ground. All I was saying that the UKIO administrators may get better value by selling separately. I'm not making a big deal over this but I reckon it is a possibility.

But the club has next to no value outside of the stadium. IIRC Rangers were 'bought' for £1 - that is crest, goodwill, history etc.

[Arch Stanton]

But the club has next to no value outside of the stadium. IIRC Rangers were 'bought' for £1 - that is crest, goodwill, history etc.

True - but what about the club as a going concern in the SPL? That'd be worth more than a pound - 2 quid at least surely!

[PatHead]

Maybe missed it in all the posts but is there a deadline on when revised bids have to be submitted?

[Mon Dieu4]

The infighting on Brokeback just now over the Foundation of Yams is quality Haha

[sidneyhibbie]

Any one got any ideas who else i can send letters ? my endless personal pursuit of justice must be continued until the day the PBS Is closed down and the yam fuds are doomed.

Sidney.:hnet:

[Dashing Bob S]

Some of them really don't get it do they? Kickback-Ugly American, on 30 July 2013 - 02:30 AM, said:A century of tradition
A rabid fan paedophile base
Biggest club in the 14th largest metro area in the UK
A dedicated effort by the supporters to buy the club and invest in it
A stadium as atmospheric as any in Britain

It will take some years, but I still see glory days for us again. Provided FoH get a hold of the club, some time in my lifetime, hopefully in the next decade, Hearts will finish top of the table in the top tier.

I really don't have that much doubt about this, actually.

Fixed it for him.

[lapsedhibee]

Any one got any ideas who else i can send letters ? my endless personal pursuit of justice must be continued until the day the PBS Is closed down and the yam fuds are doomed.

Sidney.:hnet:

Sorry, I've lost track a bit. Has Sidney written to David Southern specifically about his lies?

[Mon Dieu4]

Any one got any ideas who else i can send letters ? my endless personal pursuit of justice must be continued until the day the PBS Is closed down and the yam fuds are doomed.

Sidney.:hnet:

How about Sidney writes to Westminster just to make sure Ian Murray is doing all the foundation nonsense in his own time and not taxpayers like he says

seems to have lots of free time, even for a MP

[kdhibees1]

FOH delay the direct debits until September until they are satisfied they can reach an agreement. - http://ow.ly/i/2Ki3E/original

More like they know the end is nigh!!!

[Dashing Bob S]

FOH delay the direct debits until September until they are satisfied they can reach an agreement. - http://ow.ly/i/2Ki3E/original

More like they know the end is nigh!!!

I think they've thrown in the towel. They don't have the money to satisfy the Lithuanians, and they (correctly) won't go to Massone in a pact.

[Hermit Crab]

FOH delay the direct debits until September until they are satisfied they can reach an agreement. - http://ow.ly/i/2Ki3E/original

More like they know the end is nigh!!!

Do you really think that's the case??

[Hermit Crab]

FOH delay the direct debits until September until they are satisfied they can reach an agreement. - http://ow.ly/i/2Ki3E/original

More like they know the end is nigh!!!

Is there a real chance that liquidation will come before then?

[Sergey]

FOH delay the direct debits until September until they are satisfied they can reach an agreement. - http://ow.ly/i/2Ki3E/original

More like they know the end is nigh!!!

What do FoH really expect to get? As I read it, they've 5500 folks pledging an average of circa £20 a skull - everything going well, that's income of only £110k per month. Given that the season ticket money has been spent, this whole 'movement' hasn't a hope in hell of keeping the club afloat.

Surely BDO and the Lith admins will tell them to bolt.

[kdhibees1]

Is there a real chance that liquidation will come before then? I am assuming so. Bit strange is not, to delay bids a whole month given their financial woes. I would be very worried if I was a yam!

[Dunderhall]

Any one got any ideas who else i can send letters ? my endless personal pursuit of justice must be continued until the day the PBS Is closed down and the yam fuds are doomed.

Sidney.:hnet:

Have you tried Sindey Crosbie (http://www.urbandictionary.com/define.php?term=The%20Sindey%20Crosby)?

[Keith_M]

Any one got any ideas who else i can send letters ? my endless personal pursuit of justice must be continued until the day the PBS Is closed down and the yam fuds are doomed.

Sidney.:hnet:



Sidney's shrink?

[ginger_rice]

The infighting on Brokeback just now over the Foundation of Yams is quality Haha

Care to summarize for us as I refuse to even click on links to that festering ******* hole.

[StevieC]

It's not such a mind boggling concept for a company to lease premises - sometimes selling the premises to a lease-back company to achieve this.

If anyone buys Hearts they will effectively be buying two things - the club and the ground. All I was saying that the UKIO administrators may get better value by selling separately. I'm not making a big deal over this but I reckon it is a possibility

.. but what about the club as a going concern in the SPL? That'd be worth more than a pound - 2 quid at least surely!

For the club and stadium to be seperated wouldn't that need to involve liquidation? And liquidation would result in them losing their SPFL status?

To start selling assets, as a going concern, I would assume that a CVA would need to be agreed? It might well be that BDO could get enough in the pot from splitting assets to satisfy a CVA but would that not mean Hearts without a stadium? If if they dont have a stadium, why pay a couple of million towards a CVA? Just liquidate and start a couple of divisions lower with a clean slate?

[Mon Dieu4]

Care to summarize for us as I refuse to even click on links to that festering ******* hole.

If you don't give money you are not a real fan, aye you are, no your no, you are a bawbag and a roaster, yer ma is a roaster

FoH marketing and PR is shocking, do you want Alastair Campbell to do the PR, your ma is a roaster etc Haha

[Dashing Bob S]

Care to summarize for us as I refuse to even click on links to that festering ******* hole.

Odd sensible Yam contends that they are totally ****ed. Shouted down by hate mob of rapid paedos, who say world domination is only a heartbeat away.

[ginger_rice]

The way things are going it would appear the John Collins famous quote about them being a Sunday League Pub Team are about to come to pass :greengrin

[Dunderhall]

FOH delay the direct debits until September until they are satisfied they can reach an agreement. - http://ow.ly/i/2Ki3E/original

More like they know the end is nigh!!!
To be fair I think they have always said they would do that, wasn't July's payment the same?

The bit I don't get is they could have had extra upfront capital, so why turn it down?
OK there is the admin of returning it, but surely you would prefer the capital.

Maybe they don't see newco as that bad an option?

[kdhibees1]

To be fair I think they have always said they would do that, wasn't July's payment the same?

The bit I don't get is they could have had extra upfront capital, so why turn it down?
OK there is the admin of returning it, but surely you would prefer the capital.

Maybe they don't see newco as that bad an option?
It's another guessing game being played here by FOH. I just don't think it makes sense at such a crucial time for them as you mentioned. All very complex - the Yams way of working.

[MyJo]

To be fair I think they have always said they would do that, wasn't July's payment the same?

The bit I don't get is they could have had extra upfront capital, so why turn it down?
OK there is the admin of returning it, but surely you would prefer the capital.

Maybe they don't see newco as that bad an option?

Heart of Westlothian sharing a stadium in livingston in EoS league. :aok:

[StevieC]

To be fair I think they have always said they would do that

I think they'd said that any money taken would be returned if they were unsuccesful. I suspect that, as others have suggested, they know that they don't have enough and are postponing rather than the costly route of refunding. Also, the longer that they hang in there the more chance of the league starting and the higher the chance of them being allowed to continue in the SPFL after it all implodes.

[Arch Stanton]

For the club and stadium to be seperated wouldn't that need to involve liquidation? And liquidation would result in them losing their SPFL status?

To start selling assets, as a going concern, I would assume that a CVA would need to be agreed? It might well be that BDO could get enough in the pot from splitting assets to satisfy a CVA but would that not mean Hearts without a stadium? If if they dont have a stadium, why pay a couple of million towards a CVA? Just liquidate and start a couple of divisions lower with a clean slate?

Yes, it probably causes more problems than it solves. But I reckon that a bid less than the value of Tynecastle would not be countenanced and I wondered if there were other possibilities.

[EuanH78]

I think they'd said that any money taken would be returned if they were unsuccesful. I suspect that, as others have suggested, they know that they don't have enough and are postponing rather than the costly route of refunding. Also, the longer that they hang in there the more chance of the league starting and the higher the chance of them being allowed to continue in the SPFL after it all implodes.

Cwg has already stated that it if liquidated they will cease trading immediately. I dont see how they could continue in the league after that, , whateverthe governing body might like

[The Green Goblin]

Some of them really don't get it do they? Kickback-Ugly American, on 30 July 2013 - 02:30 AM, said:A century of tradition
A rabid fan base
Biggest club in the 14th largest metro area in the UK
A dedicated effort by the supporters to buy the club and invest in it
A stadium as atmospheric as any in Britain

It will take some years, but I still see glory days for us again. Provided FoH get a hold of the club, some time in my lifetime, hopefully in the next decade, Hearts will finish top of the table in the top tier.

I really don't have that much doubt about this, actually.


He is right about the bit in bold though.

[HUTCHYHIBBY]

Any one got any ideas who else i can send letters ? my endless personal pursuit of justice must be continued until the day the PBS Is closed down and the yam fuds are doomed.

Sidney.:hnet:

Jim'll Fix It...... Nah, maybe no eh! :guesswho:

[Dashing Bob S]

I'm still torn between wanting them liquidated before the start of the new season, and having them stagger on in some form, and face the humiliation of implosion en route, followed by liquidation. Decisions, decisions....

[JollyGreenGiant]

I'm still torn between wanting them liquidated before the start of the new season, and having them stagger on in some form, and face the humiliation of implosion en route, followed by liquidation. Decisions, decisions....

Lets just see them die asap for me! This waiting game is doing my head in.

[StevieC]

Cwg has already stated that it if liquidated they will cease trading immediately. I dont see how they could continue in the league after that, , whateverthe governing body might like

The league chairmen would just need to vote to transfer their share to the Newco. That's what they tried to do with Rangers, but the majority voted against (after fan pressure). If a majority voted in favour of a transfer then they may be allowed to complete the season (unless the rules now prevent it).

[Sergey]

I'm still torn between wanting them liquidated before the start of the new season, and having them stagger on in some form, and face the humiliation of implosion en route, followed by liquidation. Decisions, decisions....

Me too, Bob.

Them starting the season in a moribund state, reliant on fans pledges which will undoubtedly peter-out once the internal squabbles and bickering within FoH really kick-in, and upon implosion, they're kicked-out of the SPL. Divisions...divisions

[s.a.m]

I'm struggling with that one myself, Bob. Instant fun and fireworks, or a protracted, slow-burn, gift-that-keeps-giving scenario?

On balance, I think I'm going to have to go for the more cautious 'bird in the hand is worth two in the bush' approach, and opt for instant extermination. You just never know. :coffee:

[Seveno]

The company has to cease trading, so yes.

Will be get any warning so that we can rush down and watch the padlocks going on ?

[lapsedhibee]

Odd sensible Yam contends that they are totally ****ed. Shouted down by hate mob of rapid paedos, who say world domination is only a heartbeat away.

Blimey, are there subsections of paedos over there? Slow, lingering, festering, grooming-for-years types, and then this other mob you mention? Committee meetings in The Fiddlers' Arms, chips out of the Rapido on the way home, that sort of thing?

[Kato]

But who in their right mind is going to pay multiple millions for a club with no ground to play their ganes and a circa £500k season rent to then find.

FoH are the trumpe.., sorry "bidders" who'd do that - if they are that silly. I hope they succeed.

[clerriehibs]

Any one got any ideas who else i can send letters ? my endless personal pursuit of justice must be continued until the day the PBS Is closed down and the yam fuds are doomed.

Sidney.:hnet:


You'll have to start sharing your replies, I think, to fuel the fires of imaginative suggestions.

[Mr White]

You'll have to start sharing your replies, I think, to fuel the fires of imaginative suggestions.

He'd need his own postcode if he started getting replies.

[Dunderhall]

I think they'd said that any money taken would be returned if they were unsuccesful. I suspect that, as others have suggested, they know that they don't have enough and are postponing rather than the costly route of refunding. Also, the longer that they hang in there the more chance of the league starting and the higher the chance of them being allowed to continue in the SPFL after it all implodes.
On the pledge part of the FoH site, it says the current date for DDs will be 2nd Aug with the caveat that if they are still in negotiations then "an appropriate date will be decided".
It looks like the timing is down to the minimum 3 working days notification under the DD guarantee scheme.

I don't think there is much to be read into the timing at this point unfortunately, the pledgers agree to pay any refund costs so they are covered that way as well.
It makes the decision not to take the payments strange to me.

I'm not arguing they may know the game's up for the current bid, just I don't see this as an indication of it.

[clerriehibs]

If you don't give money you are not a real fan, aye you are, no your no, you are a bawbag and a roaster, yer ma is a roaster

FoH marketing and PR is shocking, do you want Alastair Campbell to do the PR, your ma is a roaster etc Haha


And the ground is now only worth £2m .. I'd say the ground is worth negative money myself, but it's the land that developers will be after ... and certainly not for only £2m!!!

[Joy Zipper]

He is right about the bit in bold though.

Brilliant!

[s.a.m]

He'd need his own postcode if he started getting replies.

:greengrin

[Gus Fring]

I said weeks ago that FOH are unlikely to start taking Direct Debits. If they had taken the money out of peoples bank accounts on friday as planned and they didn't get control of Hearts or it drags on and on then people would be demanding refunds. That would be a massive pain to refund so many people. My guess is they know nothing is going to come of it but don't want to be the ones that give the game away.

[MyJo]

I'm struggling with that one myself, Bob. Instant fun and fireworks, or a protracted, slow-burn, gift-that-keeps-giving scenario?

On balance, I think I'm going to have to go for the more cautious 'bird in the hand is worth two in the bush' approach, and opt for instant extermination. You just never know. :coffee:?

If they implode this week then the league will have to carry on but with HoMFC unable to honour fixtures so every Hearts game would be recorded as a 3-0 victory for the opposition.

Im warming to the idea of seeing the table at the end of the season with Hearts on -15 points and a -114 goal difference :greengrin

[Spike Mandela]

Me too, Bob.

Them starting the season in a moribund state, reliant on fans pledges which will undoubtedly peter-out once the internal squabbles and bickering within FoH really kick-in, and upon implosion, they're kicked-out of the SPL. Divisions...divisions

Why is Bryan Jackson all over the radio today stating he is still 'optimistic' of a deal be done with a bidder if it seems so inevitable that liquidation looms? Might UKIO do a deal if the bidders stump up a little bit more?

[Gus Fring]

Why is Bryan Jackson all over the radio today stating he is still 'optimistic' of a deal be done with a bidder if it seems so inevitable that liquidation looms? Might UKIO do a deal if the bidders stump up a little bit more?

That's his job, he has to try his best to get the club sold as a going concern and shouldn't give up until liquidation is unavoidable. It's entirely possible at this stage that Hearts will still be sold. Just because liquidation is the most likelydoesn't mean it will eventually come to pass.

[SmashinGlass]

Why is Bryan Jackson all over the radio today stating he is still 'optimistic' of a deal be done with a bidder if it seems so inevitable that liquidation looms? Might UKIO do a deal if the bidders stump up a little bit more?

I personally think its to be expected. Everything he says will be caveated with the L word, however. I think he's trying to keep the roasters onside but knows deep down the clock is ticking

[Siralbertkidd]

I personally think its to be expected. Everything he says will be caveated with the L word, however. I think he's trying to keep the roasters onside but knows deep down the clock is ticking

Do you think Rudi knew? The L he kept showing us was for LIQUIDATION http://www.hibs.net/images/icons/icon6.png

[PapillonVert]

I'm still torn between wanting them liquidated before the start of the new season, and having them stagger on in some form, and face the humiliation of implosion en route, followed by liquidation. Decisions, decisions....

Oh, Roberto, what a dilemma right enough.

As a person of compassion, even towards the undeserving hoors of Gorgie, I would go for a quick death.

We must not let our personal feelings of Schadenfreude get the better of us. If we can help it......

[Springbank]

Blimey, are there subsections of paedos over there? Slow, lingering, festering, grooming-for-years types, and then this other mob you mention? Committee meetings in The Fiddlers' Arms, chips out of the Rapido on the way home, that sort of thing?

Hey, leave the Rapido chippy and pizzeria out of this - it's never a yam place, definite Hibee leanings!

And the pizzas are out of this world
:flag::flag:

[The Green Goblin]

Do you think Rudi knew? The L he kept showing us was for LIQUIDATION http://www.hibs.net/images/icons/icon6.png



Maybe...it would explain why he (along with all those other players who took millions out of Hearts) have been so prominent, involved and vocal in trying to save them recen..... oh..... hold on....:greengrin

[Spike Mandela]

Do you think Rudi knew? The L he kept showing us was for LIQUIDATION http://www.hibs.net/images/icons/icon6.png

Oh I can see it now, a 'Liquidation all over the world picture thread':greengrin

[rossc]

ian murray must have seen that it was all going to turn out like this from the start

makes you wonder what was in it for him

the previously unknown 1st term labour mp

[s.a.m]

ian murray must have seen that it was all going to turn out like this from the start

makes you wonder what was in it for him

the previously unknown 1st term labour mp

:greengrin
"and what was it that attracted you to millionaire Paul Daniels?"

[lapsedhibee]

ian murray must have seen that it was all going to turn out like this from the start

makes you wonder what was in it for him

the previously unknown 1st term labour mp

You're porbally suggesting it was to do with his profile, but I never even once saw his profile - it was always full-frontal, full-on, full-fat face.

[Kato]

You're porbally suggesting it was to do with his profile, but I never even saw his profile - it was always full-frontal, full-on, full-fat face.

That's how roasters do it.

[PapillonVert]

ian murray must have seen that it was all going to turn out like this from the start

makes you wonder what was in it for him
the previously unknown 1st term labour mp

He is a politician.

His nature is to keep spouting the same old rubbish over and over again because he believes that the more often he says something, the more true it becomes and the more likely it is that ordinary people will believe it. No evidence to the contrary, certainly not incontrovertible fact, will ever convince him otherwise.

With the yams, he has the ideal "electorate". Gullible and desperate to believe.

[truehibernian]

ian murray must have seen that it was all going to turn out like this from the start

makes you wonder what was in it for him

the previously unknown 1st term labour mp

The hypocrisy the man shows is quite stunning - his latest tweets include praise for the Church for tackling payday loan companies whilst criticising lack of Government stance/movement on the issue (the BBC link he posts has a go at Wonga in particular).

Who sponsors Hearts again :wink: Quite happy for his football club to take their cash though eh :agree::aok: Not sure I heard him shout from the Tynie rooftops that it was a scandal they were taking Wonga's cash and proudly displaying them on their shirts........or am I mistaken :cb

First and only term mate, trust me. No Labour voter I know wants him representing them for another term (and I am/was one).

[Bostonhibby]

Any one got any ideas who else i can send letters ? my endless personal pursuit of justice must be continued until the day the PBS Is closed down and the yam fuds are doomed.

Sidney.:hnet:
Have you tried contacting one of their own? Wee Shaun Lawson. Always has something intelligent and drawn out to say. Available on all good websites and bound to have his finger on the pulse, or wherever it is all good yams put their finger.

[Paisley Hibby]

The league chairmen would just need to vote to transfer their share to the Newco. That's what they tried to do with Rangers, but the majority voted against (after fan pressure). If a majority voted in favour of a transfer then they may be allowed to complete the season (unless the rules now prevent it).

But it's all the one league organisation now so what share is it that would be transferred?

Whenever the Yams get liquidated, if the SPFL Chairmen then vote to keep a Yam Newco in the top league there will be riots in Govan. It would be much easier for the SPFL to bin them now and save all those shenanigans in a month or so's time.

[Ozyhibby]

Have you tried contacting one of their own? Wee Shaun Lawson. Always has something intelligent and drawn out to say. Available on all good websites and bound to have his finger on the pulse, or wherever it is all good yams put their finger.

Thought he had been kicked off kickback?

[Just Alf]

The league chairmen would just need to vote to transfer their share to the Newco. That's what they tried to do with Rangers, but the majority voted against (after fan pressure). If a majority voted in favour of a transfer then they may be allowed to complete the season (unless the rules now prevent it).

This is where I get confused (easily done!)

If the Liquidiser arrives at Tynie the Yams wouldn't have the keys to the place so won't be able to play there.

unless of course a Newco buys the Yams and the ground for the UKIO/UBIG Admins asking price and right now its been shown that the current bidders aren't at the races.

I think! :confused:

[lord bunberry]

:greengrin
"and what was it that attracted you to millionaire Paul Daniels?"

Classic mrs merton that was.

[YehButNoBut]

Looking at todays article in the EN, Massone still has not provided any proof that he has the capital to proceed with his bid, he has been given another 2 weeks to prove he has the cash or will be discounted from the bidding process.

Surely there was a deadline for this last week but BDO are obviously making it up as they go along.

So if Massone does drop out that leaves FoH with backing from around 5,500 Hearts fans, who have pledged money to run the club via a membership scheme if the FoH gains 
controls as the only show in town, and their bid is way below what the Lith admins will accept.

Doesn't sound good for them, does it. :greengrin

http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-angelo-massone-yet-prove-he-has-funding-1-3021320

[PapillonVert]

This is where I get confused (easily done!)

If the Liquidiser arrives at Tynie the Yams wouldn't have the keys to the place so won't be able to play there.

unless of course a Newco buys the Yams and the ground for the UKIO/UBIG Admins asking price and right now its been shown that the current bidders aren't at the races.

Possibilities for the Yams include homelessness, ground sharing with someone else, or renting back Tynie from the new owner at least temporarily. None a given.

Possibilities for the Yams: homelessness, ground-share or rent-back of Tynie (probably temporarily), none of which seems welcome IMO,

I think! :confused:

The Lithuanians who have the security over Tyne (i.e. the land) have a sum in mind which they believe that land is worth if it is sold on the open market.

The bidders need to satisfy not only the creditors via a CVA but also the holders of the security over the land. They (the Lithuanians) hold the aces because they hold the security over the land. If that's the only money-realisable asset (it seems to be so) then they are due all the money that comes from realising that asset (assuming it is less than the total they are owed = more than likely). Their debt (£15m) has to be paid first before anyone is paid because they are secured creditors.

So, if you are the secured creditor, you need to get as much from the bidders as you could get from an open market sale of the land.

The Lithuanians think the land is worth £5m (+++++++ depending on whose valuation you believe) on the open market, all of which (minus expenses) would go to them. Leaving SFA for the other creditors with zero.

The current offers are for the club + assets as a going concern with very small amounts for a CVA.

From the secured creditors POV these are rubbish offers because they believe they could realise more through a liquidation even though they might not get all their cash back.

The liquidators of the secured creditors are under a legal obligation to get the best possible price for the secured assets. If FoH and the other party can't meet their requirements in this regards, the secured creditor can force a liquidation in order to sell the secured asset (Tynie/land) and get some of their money back.

I think.

[Just Alf]

The Lithuanians who have the security over Tyne (i.e. the land) have a sum in mind which they believe that land is worth if it is sold on the open market.

The bidders need to satisfy not only the creditors via a CVA but also the holders of the security over the land. They (the Lithuanians) hold the aces because they hold the security over the land. If that's the only money-realisable asset (it seems to be so) then they are due all the money that comes from realising that asset (assuming it is less than the total they are owed = more than likely). Their debt (£15m) has to be paid first before anyone is paid because they are secured creditors.

So, if you are the secured creditor, you need to get as much from the bidders as you could get from an open market sale of the land.

The Lithuanians think the land is worth £5m (+++++++ depending on whose valuation you believe) on the open market, all of which (minus expenses) would go to them. Leaving SFA for the other creditors with zero.

The current offers are for the club + assets as a going concern with very small amounts for a CVA.

From the secured creditors POV these are rubbish offers because they believe they could realise more through a liquidation even though they might not get all their cash back.

The liquidators of the secured creditors are under a legal obligation to get the best possible price for the secured assets. If FoH and the other party can't meet their requirements in this regards, the secured creditor can force a liquidation in order to sell the secured asset (Tynie/land) and get some of their money back.

I think.

:thumbsup:

[Pretty Boy]

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.

[kdhibees1]

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.
http://img33.imageshack.us/edit_preview.php?l=img33/9920/xoq1.jpg&action=rotate

[Bostonhibby]

Thought he had been kicked off kickback?

He's a famous writer of wordy ingratiating drivel, so he is out there in the ether somewhere, maybe even on here now in one if his any guises..............as long as his ma lets him. :wink:

[Ozyhibby]

The Lithuanians who have the security over Tyne (i.e. the land) have a sum in mind which they believe that land is worth if it is sold on the open market.

The bidders need to satisfy not only the creditors via a CVA but also the holders of the security over the land. They (the Lithuanians) hold the aces because they hold the security over the land. If that's the only money-realisable asset (it seems to be so) then they are due all the money that comes from realising that asset (assuming it is less than the total they are owed = more than likely). Their debt (£15m) has to be paid first before anyone is paid because they are secured creditors.

So, if you are the secured creditor, you need to get as much from the bidders as you could get from an open market sale of the land.

The Lithuanians think the land is worth £5m (+++++++ depending on whose valuation you believe) on the open market, all of which (minus expenses) would go to them. Leaving SFA for the other creditors with zero.

The current offers are for the club + assets as a going concern with very small amounts for a CVA.

From the secured creditors POV these are rubbish offers because they believe they could realise more through a liquidation even though they might not get all their cash back.

The liquidators of the secured creditors are under a legal obligation to get the best possible price for the secured assets. If FoH and the other party can't meet their requirements in this regards, the secured creditor can force a liquidation in order to sell the secured asset (Tynie/land) and get some of their money back.

I think.

From the secured creditors point of view, if they accept a cva then they have to share some of the money with the unsecured creditors or they will reject the cva?
But if the proceed to liquidation they will repossess the PBS and get to keep the proceeds themselves?
Is that about right?

[Treadstone]

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.

Does #allisbathgate know this ?

[worcesterhibby]

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.

Sounds like a "SMART" idea :agree::aok:

[PapillonVert]

From the secured creditors point of view, if they accept a cva then they have to share some of the money with the unsecured creditors or they will reject the cva?
But if the proceed to liquidation they will repossess the PBS and get to keep the proceeds themselves?
Is that about right?

My non-financial expert PoV FWIW, why would a secured creditor accept a CVA if it could get more from a liquidation? As was said previously by Ginandtonic (sic) on behalf of the Lithuanians, "the bidders need to up their offers by millions" (or words to that effect).

In other words, as I understand it, the bidders need to come up with substantially more than they have so far to avoid liquidation.

[Pretty Boy]

Does #allisbathgate know this ?

I'd be surprised if he does.

Firstly because the Scotsman seems nothing more than a vehicle for Hearts to tell supporters what they want to hear. Secondly because no formal moves have started yet, I found out somewhat due to a slip of the tongue.

The holding company of the developer in question also has a diverse portfolio of businesses and the main development income now comes from abroad so unlikely they would be overly concerned about upsetting the yams in the short term.


Sounds like a "SMART" idea :agree::aok:

Close but no cigar.

[Fat Penlon]

Can anyone (maybe sergey) remind me of what happened to Kaunas FC when Romanov stopped using other people's money to fund them?

[Sergey]

Can anyone (maybe sergey) remind me of what happened to Kaunas FC when Romanov stopped using other people's money to fund them?

They resigned from A-Lyga and turned to amateur status and plied their trade in what's best described as ' Lithuanian Pub League' matches. Still amateur to this day. From what I've been told, they'll fold completely in the coming months.

His other club, MTZ RIPO withdrew from the Belarus league during the 2012 season leaving the league in turmoil and they also went amateur. They re-branded (can't remember new name) and are now resigned to history.

Good things do come in three's, don't they?

[Kato]

Who sponsors Hearts again :wink: Quite happy for his football club to take their cash ....
Is that the million quid they gave them you're talking about?

[justlikebrazil]

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.
Is it possible for a property developer to make contact with the Lithuanians outwith BDO and make a bid for Tynecastle :wink:

[hibees 7062]

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.

Just one PB ?

[Pretty Boy]

Just one PB ?

1 that i'm aware off, there may be more in that area. There's certainly plenty in Edinburgh.

Ugly, ugly buildings (the ones near Tynecastle).

[hibees 7062]

1 that i'm aware off, there may be more in that area. There's certainly plenty in Edinburgh.

Ugly, ugly buildings (the ones near Tynecastle).

I thought it was the brothers that built all over gorgie . This would be right up their street and they wouldnd give a F about heartz

[The Green Goblin]

Thought he had been kicked off kickback?


Imagine being a yam roaster so bad that even Kickback launch you....

[Jack]

Ugly, ugly buildings (the ones near Tynecastle).

You're very good at not revealing your sources, that doesn't cut down the number at all!

[Hibs07p]

If it's the builders I'm thinking about, their website is decked out in nice colours. I worked on one of their developments in Muirston Place around 1987/88.

GGTTH

[monktonharp]

I wonder if the Lithuanians have someone already in the background who is not interested in the football club but just getting a hold of the land?

Hence the hint about millions more being needed and the underlying hint of those millions being forthcoming tout de suite - or else.

Just wondered. After all, if you were only interested in the land, why pfaff around with the administrators of HMFC and all this 'going concern' nonsense rather than go straight to the Lithuanians who are the real decision makers and let them know you are ready to buy and pay x amount if it's a liquidation sale? Tactically, you would also want to see the liquidation in process asap hence the pressure on BDO to move things along.

That way the Lithuanians can force FoH and Massone either to come up with a much better offer prontissimo or they proceed straight to liquidation.

Not much reason to hang around whilst BDO and FoH count the pennies and halfpennies in the kiddies' piggybanks and try to sell half-stale buns for ten a penny and still be millions short when you could get your hands on some real cash through a liquidation sale. the Chinese, biggest population in the world as everyone knows, are buying up land ,properties , etc all over the place. Edin. quarter mile for example. alright, it's virtually built but what's to stop them gettin' a finger in the pie buying up disused premises next? someone mentioned a lot of money sloshing around, a few pages back but when it comes to a lot of money sloshing around, there are some very intelligent, business people with a lot of clout in the ever growing Chinese community in the whole of the UK.

[Pretty Boy]

You're very good at not revealing your sources, that doesn't cut down the number at all!

The PM board is your friend.

[bingo70]

the Chinese, biggest population in the world as everyone knows, are buying up land ,properties , etc all over the place. Edin. quarter mile for example. alright, it's virtually built but what's to stop them gettin' a finger in the pie buying up disused premises next? someone mentioned a lot of money sloshing around, a few pages back but when it comes to a lot of money sloshing around, there are some very intelligent, business people with a lot of clout in the ever growing Chinese community in the whole of the UK.

Saw on the news that the Chinese are trying to improve relations with the UK so once Ian Murray mp and George foulkes have a word with their heid honcho there'll no be a Chinese bulldozer in site

[hibees 7062]

If it's the builders I'm thinking about, their website is decked out in nice colours. I worked on one of their developments in Muirston Place around 1987/88.

GGTTH
Me to , dont you think tiny is right up their street ?

[Hibs07p]

Me to , dont you think tiny is right up their street ?

Definitely, and agreed, they wouldn't give a *****, to turn a profit. Their online portfolio is quite impressive too.

GGTTH

[sidneyhibbie]

If it's the builders I'm thinking about, their website is decked out in nice colours. I worked on one of their developments in Muirston Place around 1987/88.

GGTTH

Details please ? i think a letter should be sent.:aok:

[Hibs07p]

Details please ? i think a letter should be sent.:aok:

Sidney, Hibs07p believes he should see the quality of your correspondence previously sent, before he can reveal his knowledge of building developers, that allegedly might have an interest, in purchasing Tinnie.

GGTTH

[monktonharp]

I thought it was the brothers that built all over gorgie . This would be right up their street and they wouldnd give a F about heartz I am now inTEAGUED as to what's next, unless it was approaching MILLER time, but surely no Edin. based developer would have the HART to take on a project like Tynie?

[HUTCHYHIBBY]

the Chinese, biggest population in the world as everyone knows, are buying up land ,properties , etc all over the place. Edin. quarter mile for example. alright, it's virtually built but what's to stop them gettin' a finger in the pie buying up disused premises next? someone mentioned a lot of money sloshing around, a few pages back but when it comes to a lot of money sloshing around, there are some very intelligent, business people with a lot of clout in the ever growing Chinese community in the whole of the UK.

Certainly seems to be a Far East invasion taking place in the Slateford area recently.

[jae]

I am now inTEAGUED as to what's next, unless it was approaching MILLER time, but surely no Edin. based developer would have the HART to take on a project like Tynie?

AM A wee bit sure a certain developer was linked with a rumoured takeover a wee while back. :cb

[green glory]

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.

Smart's ?

[Kaiser1962]

They resigned from A-Lyga and turned to amateur status and plied their trade in what's best described as ' Lithuanian Pub League' matches. Still amateur to this day. From what I've been told, they'll fold completely in the coming months.

His other club, MTZ RIPO withdrew from the Belarus league during the 2012 season leaving the league in turmoil and they also went amateur. They re-branded (can't remember new name) and are now resigned to history.

Good things do come in three's, don't they?

His diversification into football has not really went well. Is that accurate?

[IndieHibby]

Apologies if the answer to this question has been posted previously (believe me - I do try to keep up, but this story is the gift that is too generous!);
what mileage is there in the stories which went about recently about planning permission on Tynecastle? Can the land be sold on the open market or are there 'restrictions'?

[Just Alf]

Apologies if the answer to this question has been posted previously (believe me - I do try to keep up, but this story is the gift that is too generous!);
what mileage is there in the stories which went about recently about planning permission on Tynecastle? Can the land be sold on the open market or are there 'restrictions'?

It's ok, this keeps coming up.

In the sales particulars for the old school (which is right next door to the ethanol tanks) The council have stated
McFarlan Smith are no longer an issue (due to changes in use etc within the plant)
The ethanol tanks from british distillers do still come into play, although this impact may be reduced ( last I heard from an employee only one of the tanks are in use.)

For the school, the development can be offices (max 3 floors and something like 200 staff), retail outlets or storage.... This is more strict than the stadium which is further away. The plans showing the zoning impact on the stadium indicate it just the north west corner that's actually impacted.
On iPad so don't have it to hand but I have a map which I'll post later that shows the current position.

One other thing to add is that BD actively want to move their operation out to the site at Addiewell so all the above could disappear as an issue... That's why BD had agreed to move and finance half the costs when the yams were talking about redevelopment.... If the buyers of the school and the stadium were to share costs (unless they end up being the same company :D ) then they could relatively easily make all this go away!

[Springbank]

I am now inTEAGUED as to what's next, unless it was approaching MILLER time, but surely no Edin. based developer would have the HART to take on a project like Tynie?

I hear Keepmoat are experts at demolishing old stadia, such as in Donnie

It's about time that one "Doncaster" in this whole sorry saga actually does something that does Scottish society a favour...

[IndieHibby]

For the school, the development can be offices (max 3 floors and something like 200 staff), retail outlets or storage.... This is more strict than the stadium which is further away. The plans showing the zoning impact on the stadium indicate it just the north west corner that's actually impacted.


Thanks for that. If I can paraphrase, what you are saying is that worst case scenario, the NW corner (of the land at Tynecastle) could be used for storage, retail, office etc while the remaining land could be used for anything (say, housing :wink:)?

mmmm..... A new flat/housing development plus a Tesco Express? :hilarious

This is gold dust. A typically deluded and verbally incontinent Yam I occasionally speak to is spouting loads of pish about the land not being available for development. This should shut his coupon up for a while...

Consequently, this means that the Lith admin would be mad (and/or criminally negligent) to refuse the market value (or £6.8M min) as a deal for CVA?

Check mate.

[Just Alf]

Thanks for that. If I can paraphrase, what you are saying is that worst case scenario, the NW corner (of the land at Tynecastle) could be used for storage, retail, office etc while the remaining land could be used for anything (say, housing :wink:)?

mmmm..... A new flat/housing development plus a Tesco Express? :hilarious

This is gold dust. A typically deluded and verbally incontinent Yam I occasionally speak to is spouting loads of pish about the land not being available for development. This should shut his coupon up for a while...

Consequently, this means that the Lith admin would be mad (and/or criminally negligent) to refuse the market value (or £6.8M min) as a deal for CVA?

Check mate.

:thumbsup:

here's the plan which shows current impacted area (the Yams have this info, they just keep brushing it under the carpet)

10748

[greenpaper55]

Bathgate at it again http://www.scotsman.com/sport/football/spfl/hearts-administration-clean-sale-needed-1-3022590

He has become the mouthpiece for the yams, he should stick to his beloved rugby as he knows nowt.

[--------]

Thanks for that. If I can paraphrase, what you are saying is that worst case scenario, the NW corner (of the land at Tynecastle) could be used for storage, retail, office etc while the remaining land could be used for anything (say, housing :wink:)?

mmmm..... A new flat/housing development plus a Tesco Express? :hilarious

This is gold dust. A typically deluded and verbally incontinent Yam I occasionally speak to is spouting loads of pish about the land not being available for development. This should shut his coupon up for a while...

Consequently, this means that the Lith admin would be mad (and/or criminally negligent) to refuse the market value (or £6.8M min) as a deal for CVA?

Check mate.


I would have thought that that would be the minimum price they should be looking for.

And then of course there's the question (which the administrators as far as I'm aware should definitely address) of how much more the buyer has in his kitty to actually run the club after he buys it?

Or am I wrong?

[IndieHibby]

:thumbsup:

here's the plan which shows current impacted area (the Yams have this info, they just keep brushing it under the carpet)

10748

:aok:

[sidneyhibbie]

:aok:

Letters to EDC Planning Department being sent today Sidney will uncover the facts about the PBS And out them.

Sidney.:hnet:

[robinp]

Letters to EDC Planning Department being sent today Sidney will uncover the facts about the PBS And out them.

Sidney.:hnet:

Robinp thinks Sidney is a good lad.

[hibs0666]

Letters to EDC Planning Department being sent today Sidney will uncover the facts about the PBS And out them.

Sidney.:hnet:

Sidney has been writing letters for weeks now. Does Sidney ever get a reply? :wink:

[Mac]

Sidney has been writing letters for weeks now. Does Sidney ever get a reply? :wink:

I think Sidney has paper and crayons along with maroon padding on the walls!!

[hibees 7062]

I am now inTEAGUED as to what's next, unless it was approaching MILLER time, but surely no Edin. based developer would have the HART to take on a project like Tynie?

:greengrin

[Sergey]

:thumbsup:

here's the plan which shows current impacted area (the Yams have this info, they just keep brushing it under the carpet)

10748

Wasn't there some sort of plans years ago that could pave the way for the possible purchase and relocation of the distillery? If so, that whole plot could be very lucrative with the hazard removed.

[lord bunberry]

Wasn't there some sort of plans years ago that could pave the way for the possible purchase and relocation of the distillery? If so, that whole plot could be very lucrative with the hazard removed.

If hearts are liquidated the hazard will be removed permanently

[sidjames]

So. In order to get the Plummets onside any developer should do the following.

Name the new development Tyncastle Park Estate. Roads should John Robertson Avenue, Inoorshadow Lane and so on. Number them all 15 (A, B and so on) Then they can start a Freedom of Housing group and can continue to sqaubble and waffle about taking it all over. A wee memorial to our great war saviours would be a nice touch. Maybe a giant poppy. Where they can reflect on past glories. Hubris come to mind and the fact that is is an anagram of Ur Hibis is a nice touch.

Just a thought:flag:

[Treadstone]

Bathgate at it again http://www.scotsman.com/sport/football/spfl/hearts-administration-clean-sale-needed-1-3022590

He has become the mouthpiece for the yams, he should stick to his beloved rugby as he knows nowt.

Beginning to look like a serialisation. "This week only in the Hootsman"

[MB62]

:thumbsup:

here's the plan which shows current impacted area (the Yams have this info, they just keep brushing it under the carpet)

10748

I hope this plan doesn't fall in to the hands of the Ukio Bankas administrators/liquidators. Can you imagine if somebody found an e-mail address or fax number for them? that could be a disaster for the Yams :wink: :greengrin

[Springbank]

So. In order to get the Plummets onside any developer should do the following.

Name the new development Tyncastle Park Estate. Roads should John Robertson Avenue, Inoorshadow Lane and so on. Number them all 15 (A, B and so on) Then they can start a Freedom of Housing group and can continue to sqaubble and waffle about taking it all over. A wee memorial to our great war saviours would be a nice touch. Maybe a giant poppy. Where they can reflect on past glories. Hubris come to mind and the fact that is is an anagram of Ur Hibis is a nice touch.

Just a thought:flag:

A becardiganed Neighbourhood Watch is a given, and condominium rules will include "no houses or flats to be numbered 07, 26, 62 or 70"

Jim Jefferies is lurking in the sales Portacabin just in case he gets a call

[Moulin Yarns]

Letters to EDC Planning Department being sent today Sidney will uncover the facts about the PBS And out them.

Sidney.:hnet:

What question is Sidney asking the CEC Planning Department?

Does Sidney know that there is no Planning Application to redevelop Tynecastle as anything other than a football stadium, not even by CALA?

[CB_NO3]

Its not really hard to get round it. If you bought the land, flatten the ground and tar mac it and run it as a private car park for a few years. Wait 3 or 4 years till land and house prices increase then build on it. By that time the council would all but grant you planning permission as they would rather have trendy flats on it rather than an ugly car park.

[sidneyhibbie]

Sidney has been writing letters for weeks now. Does Sidney ever get a reply? :wink:

Not yet but i am following up asking why they have not replied to me

[Ozyhibby]

Any reason why BDO have not published a report on all the debts Hearts had at the point they went into admin or is it too soon?
Also, have they given a guide as to who exactly gets to vote on the CVA proposal?

[Treadstone]

Not yet but i am following up asking why they have not replied to me

Have you ever written to the yams ? I am sure you know their address.

[Onion]

Its not really hard to get round it. If you bought the land, flatten the ground and tar mac it and run it as a private car park for a few years. Wait 3 or 4 years till land and house prices increase then build on it. By that time the council would all but grant you planning permission as they would rather have trendy flats on it rather than an ugly car park.

Exactly. All that rubbish about land values, lack of permission and rep damage. Anyone buying that land will make good money within a short time. Clearing the Yams out of Gorgie will immediately improve the area and land values .

[Benny Brazil]

Not yet but i am following up asking why they have not replied to me

Good man sidney - I admire your enthusiasm

[Just Alf]

Wasn't there some sort of plans years ago that could pave the way for the possible purchase and relocation of the distillery? If so, that whole plot could be very lucrative with the hazard removed.

There is...

The position is that the distillery WANT to move the function/tanks to Addiewell but can't afford to do it on their own.... the original agreement was for the Yams to pick up half the cost. They'd still keep the rest in place (no more moving ethanol in tankers through the streets of Gorgie tho!).

And just to be clear the separate issue with McFarlane Smith no longer exists.

[southsider]

Exactly. All that rubbish about land values, lack of permission and rep damage. Anyone buying that land will make good money within a short time. Clearing the Yams out of Gorgie will immediately improve the area and land values .

This is true as the prices on flats built near football grounds are always lower as who wants drunken weegies spewing up and peeing in their stairwell. Without PBS any builder could be on to make a tidy sum.

[sadtom]

Personally i've nae problem wi Bathgate, Anderson, Fatty Foulkes, Cardownie et al trying to save their club. So long as its not out the public purse or that they are getting preferential treatment compared to us.
Its funny that the hahahawrts support have 'played possum' for years only to wait for the ship to sink to start desperately thrashing about in the water. Cause that only attracts the sharks! :-)

[HUTCHYHIBBY]

Not yet but i am following up asking why they have not replied to me

A SAE with each letter should ensure a fuller bag for sidneys postie. Probably not a good idea to be there when he empties the contents through your letterbox though.

[Treadstone]

Personally i've nae problem wi Bathgate, Anderson, Fatty Foulkes, Cardownie et al trying to save their club. So long as its not out the public purse or that they are getting preferential treatment compared to us.
Its funny that the hahahawrts support have 'played possum' for years only to wait for the ship to sink to start desperately thrashing about in the water. Cause that only attracts the sharks! :-)

Me neither. However the abuse of their positions and lies is not on.
Foulkes : "I will be speaking to the Lithuanian ambassador".
Banderson : Too many but the "Wonga million" is the cherry on the cake.
Bathgate : Thinks he is is editing a fanzine in his last two columns.

[FranckSuzy]

Letters to EDC Planning Department being sent today Sidney will uncover the facts about the PBS And out them.

Sidney.:hnet:


Not yet but i am following up asking why they have not replied to me

FranckSuzy thinks Sidney must have cramp from all that w.....riting :wink:

[Dunderhall]

There is...

The position is that the distillery WANT to move the function/tanks to Addiewell but can't afford to do it on their own.... the original agreement was for the Yams to pick up half the cost. They'd still keep the rest in place (no more moving ethanol in tankers through the streets of Gorgie tho!).

And just to be clear the separate issue with McFarlane Smith no longer exists.
I'm sure the joint cost was £2M for the move.

£1M for a big increase in land value, and it would remove the hazard on the old school which is currently for sale. £500K each seems a decent option.


A SAE with each letter should ensure a fuller bag for sidneys postie. Probably not a good idea to be there when he empties the contents through your letterbox though.
Just to be clear Sidney, the SAE goes inside the letter.
Although the other option might be the only way to get a reply.

[CropleyWasGod]

Meeting of creditors to be held on 12 August.

Just been advised, and have BDO's report.

More anon.

Question... how does one attach a PDF here?

[Just Alf]

Meeting of creditors to be held on 12 August.

Just been advised, and have BDO's report.

More anon.

:partyhibb

[bingo70]

:partyhibb

Is this good news?

[Mikey]

Meeting of creditors to be held on 12 August.

Just been advised, and have BDO's report.

More anon.

Question... how does one attach a PDF here?

Mail it to [email protected] if you can't.......... erm.......... get it up :greengrin

[CropleyWasGod]

10751

Here you go. Knock yourselves out.

[Mikey]

10751

Here you go. Knock yourselves out.

Pages 20-23, is that who they're due money to?

[Ozyhibby]

Anyone willing to summarise? Can't see it on my phone.

[CropleyWasGod]

Pages 20-23, is that who they're due money to?

Yes.


Anyone willing to summarise? Can't see it on my phone.

It's 45 pages long, so.... NAW. :greengrin

[Waxy]

Cant on my phone either. Much frustrations. Missing much juicyness. Spill please.

[Mikey]

They're due money to Lady Haig's Poppy Factory :Ummm:

EDIT - And McCrae's Battalion Trust.

[Ozyhibby]

It's 45 pages long, so.... NAW. :greengrin

Nightmare, going to have to walk all the way downstairs to check the PC. Hope your proud of yourself. :-)

[lord bunberry]

So. In order to get the Plummets onside any developer should do the following.

Name the new development Tyncastle Park Estate. Roads should John Robertson Avenue, Inoorshadow Lane and so on. Number them all 15 (A, B and so on) Then they can start a Freedom of Housing group and can continue to sqaubble and waffle about taking it all over. A wee memorial to our great war saviours would be a nice touch. Maybe a giant poppy. Where they can reflect on past glories. Hubris come to mind and the fact that is is an anagram of Ur Hibis is a nice touch.

Just a thought:flag:
Romanov loan would be a good name for a street

[bingo70]

They're due money to Lady Haig's Poppy Factory :Ummm:

EDIT - And McCrae's Battalion Trust.

And Liverpool so I'm guessing they must have 'paid' for Michael ngoo!!!!!

[Ozyhibby]

Tynecastle valued at £13m?
Interesting.

[Killiehibbie]

If Tynecastle has a book price of £13,750,000 how much is the land really worth?

[CropleyWasGod]

Tynecastle valued at £13m?
Interesting.

No. It is currently being valued/ has been valued by Jones Lasalle. The valuation has been omitted to avoid prejudicing any sales negotiation.

[Ozyhibby]

Owe Heriot watt £145k.
Also stiffed the red cross. Shameless.

[Barney McGrew]

Some interesting stuff in the creditors list.

£146k to Heriot Watt
£46 to Liverpool
£5k to Musselburgh Atheltic
£18k to the Police
£12k to Stenhousemuir
£90k to the Council

[Craig_in_Prague]

they owe the SFA ? lol

[Ozyhibby]

Lady haigs poppy factory in there as well.

[Mikey]

Owe Heriot watt £145k.
Also stiffed the red cross. Shameless.

The whole list is shameless. They were actively looking to sign more players while due all that money, some of it to charities and small businesses.

Absolutely disgusting.

[jonty]

90.7k due to the council plus another 2.6k for flats

Only £56 for TNT though - must have been that planning application.

[Ozyhibby]

90.7k due to the council plus another 2.6k for flats

Only £56 for TNT though - must have been that planning application.

Thought the council had said a much lower figure than that. Someone telling porkies?

[lord bunberry]

They have been collecting money for their big hearts charity and spending it on players wages, what a disgusting shameless bunch of cretins they are.

[Mikey]

Love to know how vermin.net has hold of this when the club website would be the first place for this to be listed on.

Because if you want the truth you know where to come :wink:

[MixuMac]

So they owe just short of £28.5m in total

[Springbank]

10751

Here you go. Knock yourselves out.

A useful thing to bookmark cheers

When any yams try to play the victim card I'll show them this - these people are the real victims, including macrae poppies et al

[Sergey]

The whole list is shameless. They were actively looking to sign more players while due all that money, some of it to charities and small businesses.

Absolutely disgusting.

Utter vermin - they've even trousered the poppy appeal monies.

That's truly beyond the pale.

[Mikey]

They have been collecting money for their big hearts charity and spending it on players wages, what a disgusting shameless bunch of cretins they are.

Yep, there are several charities listed.

Any thoughts on that Mr Bathgate??

[CropleyWasGod]

Because if you want the truth you know where to come :wink:

It is in the public domain. I got it from Companies House for £1.

Up yours, random dick :greengrin

[jgl07]

Money owed to The Rangers Football Club (c/o BDO) £1,410

Well they owe that one to themselves!

[scott7_0(Prague)]

10751

Here you go. Knock yourselves out.

I have remaned the PDF "46 shades of maroon" - this is so pornographic reading.

[CropleyWasGod]

By the way, guys, somewhere in there, BDO say that more creditors are expected to be added.

[Mikey]

By the way, guys, somewhere in there, BDO say that more creditors are expected to be added.

Get your name on the list and get your £1 back :aok:

[Ozyhibby]

Stenhousemuir F.C. £12k

[Mikey]

I wonder if the Scott Wilson owed £1000 is the same roaster who announces to everyone that it's another sold out Tynecastle (when you can clearly see lots of empty seats).

[Gatecrasher]

Utter vermin - they've even trousered the poppy appeal monies.

That's truly beyond the pale.

One of the main things they pride themselves on is the poppy fund etc and they even shafted them :yw:

[Springbank]

Stenhousemuir F.C. £12k

A pretty significant sum for a small maroon clad team in the lower divisions...



...as FoH may sometime find out the hard way

Contemptible club

[Andy74]

Always pretty disgusting when you see these lists and they have been trying to sign players.

[Lester B]

It is in the public domain. I got it from Companies House for £1.

Up yours, random dick :greengrin

The most perfect post on this entire thread!

Anyone notice Scrubbers Laundry Services? Do we know any famous Hearts fan who might need awkward stains removed from an item of clothing such as his breeks?

[Ozyhibby]

So the 'Big Hearts community trust' was actually collecting money for the club to spend on players?
Bit naughty.

[Cabbage East]

So included amongst the creditors are; various NHS boards, Edinburgh City Council, Police Scotland, Heriot Watt university, various charities including those affiliated to themselves, lower division football clubs, ordinary supporters. And all this while attempting to sign more players and actively increase their wage bill.

They are a vile, disgusting club and I hope that they die soon.

Also worth noting a couple of creditors on the last page there - Savills and one Scott Wilson :greengrin

[GloryGlory]

Yep, there are several charities listed.

Any thoughts on that Mr Bathgate??

Disgraceful.

Maybe I Murray MP and Lord FFSake can be prevailed upon to start a campaign to ensure that charities are refunded 100p in the £.

BTW, is there a figure for what is owed to HMRC? Looks like they have stiffed us taxpayers for £18k (polis), £90k (Cooncil) and £145k (HWU - an organisation that relies on public funding for a high amount of its annual income, so we'll end up picking up this one way or another).

Cooncillors also need to be questioned about why the Yams have been allowed to run up debts of £90k, when their credit rating must have been negative for quite some time now.

[wallmack]

the issued share cap is £146 million???? Is this the true value of the amount the Liths have been stiffed for?

[PapillonVert]

Total debt = £28.99 million.

Nothing left for the unsecured creditors after secured creditors (Ukio) taken care of.

As others have said, totally shameless depriving the public purse, other clubs, charities and small businesses of literally millions.

But, hey ho, 1-5, 1902, "it's all been worth it" and all that. Big team?

Edinburgh's Big Disgrace more like.


BTW, is there a figure for what is owed to HMRC? Looks like they have stiffed us taxpayers for £18k (polis), £90k (Cooncil) and

Think I saw £1.8 million mentioned somewhere.

[OrdHibby]

So the 'Big Hearts community trust' was actually collecting money for the club to spend on players?
Bit naughty.
Should HMRC not be investigating this. :cb

[Barney McGrew]

BTW, is there a figure for what is owed to HMRC?.

Just shy of £1.9m

[Caversham Green]

Noticeable that they owe UBIG £8m - down from the £10m that it was earlier in the year. So while they were stiffing charities and community football clubs and selling non-existent shares, Vlad and Sergey were raking back as much as they could. And UBIG are now insolvent, so there's no chance of raking it back as a preferential payment.

[Wing Half]

Shred-It (East Of Scotland) Ltd - £457.20

[KWJ]

Who are these guys that hearts are due over a half mil to? Ensco 396.

http://www.companieslist.co.uk/SC444523-ensco-396-limited

[PapillonVert]

Should HMRC not be investigating this. :cb

Should the SFO not be investigating the whole shameless bunch?

Self-sufficient? Aye, right. Never in a million years on these figures.


Noticeable that they owe UBIG £8m - down from the £10m that it was earlier in the year. So while they were stiffing charities and community football clubs and selling non-existent shares, Vlad and Sergey were raking back as much as they could. And UBIG are now insolvent, so there's no chance of raking it back as a preferential payment.

Possibly where the season ticket money vanished to perhaps?

[Ozyhibby]

Football debt £535k. There's a nice little hole in a newco balance sheet there.

[Darth Hibbie]

Noticeable that they owe UBIG £8m - down from the £10m that it was earlier in the year. So while they were stiffing charities and community football clubs and selling non-existent shares, Vlad and Sergey were raking back as much as they could. And UBIG are now insolvent, so there's no chance of raking it back as a preferential payment.


Paid for by the bogus share issue?

[Hank Schrader]

There was another document lodged at Companies House that day titled;

"NOTICE OF INSUFFICIENT PROPERTY FOR DISTRIBUTION TO UNSECURED CREDITORS OTHER THAN BY VIRTUE OF S176A(2)A"

Do any of our insolvency experts know why such a document would be lodged?

[Geo_1875]

There's a number of individuals named as owed £100.

Looks like they asked for their share money back too late.

[KWJ]

Think how old some of these debts must be as surely very few would've given them credit in the past couple years.

[Hank Schrader]

Who are these guys that hearts are due over a half mil to? Ensco 396.

http://www.companieslist.co.uk/SC444523-ensco-396-limited

Spotted that too, only incorporated on 7th March 2013. Registered office seems to be HBJ. Lot of debt to rack up in three months. :confused:

[Part/Time Supporter]

BTW, if folk are wondering why this document was released now, it was prepared in case Ukio had accepted any of the bids made last week (26 July). If they had accepted then they would have proceeded to a CVA vote within 14 to 28 days.

As it is, the meeting on 12 August will now just decide whether to appoint a creditors' committee, as the administrator doesn't yet have an agreed proposal for the creditors to consider.

[OrdHibby]

Should the SFO not be investigating the whole shameless bunch?

Self-sufficient? Aye, right. Never in a million years on these figures.

The SFO are as bent as Hawrts and the city of Edinburgh council