Share Transfers Agreed/Cooling off period

[Crazyhorse]

May I be the first to say I have no idea what the hell is going on. :confused:

You are in the silent-ish majority like me...

[Ozyhibby]

Don't think the next vote needs to be 'in attendance' so an abstention would be a NO?

[The Falcon]

The main bulk of the 13% would I assume be HMRC. They have £1.9m out of £27m = approx 8%. Apologies re your prior post, I read it that Valnetas was accepting half of PBS ( rather than the value ) & I thought I'd missed something earlier in this small thread!

What about UBIG's £8.2m? I thought if they abstained its counted as a no?

[rcarter1]

May I be the first to say I have no idea what the hell is going on. :confused:

I second that.. :greengrin

[Leithenhibby]

Could ubig agree and not demand a huge price for the shares?

I feel this is their (ubig) jewel in the crown. They may want a kings ransom for them...

[bathhibby]

just realized it's conditional, that means it's not officially "signed off" so in turn that means the 30 day cooling off period can't commence yet?
It's conditional on them getting the UBIG shares which are subject to their liquidators who act on behalf if the Lithuanian Tax Payer. UBIG own the PBS - the only real asset so they won't give that up for sweeties - they'll get the max for the swindled Tax Payers

[Leithenhibby]

It's conditional on them getting the UBIG shares which are subject to their liquidators who act on behalf if the Lithuanian Tax Payer. UBIG own the PBS - the only real asset so they won't give that up for sweeties - they'll get the max for the swindled Tax Payers

This please..... :wink:

[Golden Bear]

I feel this is their (ubig) jewel in the crown. They may want a kings ransom for them...

Enter Bob Jamieson


The devil incarnate or hawrts saviour?

[Gus Fring]

Enter Bob Jamieson


The devil incarnate or hawrts saviour?

one and the same surely?

[Greenworld]

Don't think the next vote needs to be 'in attendance' so an abstention would be a NO?

Does that mean if they don't vote or vote no the second stage fails

[greenpaper55]

Sorry if this has been posted already but from this it seems there is still a way to go, what about his fat smug face ?.

http://www.bbc.co.uk/sport/0/football/25154126

[Leishy1995]

Pledge to the Stop, Jambos. Rightly Tease the Ogres fund. In a bid to buy the shares


SJRTO for short.

[weonlywon6-2]

It wasn't a surprise really, there's still a long way to go before they're out of trouble, don't get frustrated- just sit back and enjoy what's to come.


Like what ??

[Gingertosser]

So, if I'm reading this right .....

Ukio have accepted the £2.5m bid to cover their claim on the stadium
(still not sure exactly how much of that BDO will take)

UBIG are now saying "if you want us to vote for this then we want money for our shares"
(will that be about the same amount, it would seem thats why the begging bowl is out again)

will they be able to cobble another £2.5m together by February ?

[jacomo]

It's conditional on them getting the UBIG shares which are subject to their liquidators who act on behalf if the Lithuanian Tax Payer. UBIG own the PBS - the only real asset so they won't give that up for sweeties - they'll get the max for the swindled Tax Payers

Nope, UKIO, the dead bank, own the PBS.

[TonyStokeprano]

I'm just happy I didn't pay a tenner to find this out. champagne and cigars I've been hearing, Deary dear lets face it people no one on this board has a clue what's going on, it's all just guess work.

P.s I've got 5 million pounds waiting for one lucky member just pm me your bank details sort code expiry date etc and the winner will be announced in the next week

[Leithenhibby]

Nope, UKIO, the dead bank, own the PBS.

You sure about that? just that another poster said that UBIG owned it :confused:

[CropleyWasGod]

You sure about that? just that another poster said that UBIG owned it :confused:

Neither own it.

HMFC (IA) own it, subject to a security held by UKIO.

[Elephant Stone]

Nope, UKIO, the dead bank, own the PBS.

Did this happen today?

[CropleyWasGod]

I'm just happy I didn't pay a tenner to find this out. champagne and cigars I've been hearing, Deary dear lets face it people no one on this board has a clue what's going on, it's all just guess work.

P.s I've got 5 million pounds waiting for one lucky member just pm me your bank details sort code expiry date etc and the winner will be announced in the next week

:rolleyes:

[Leithenhibby]

Neither own it.

HMFC (IA) own it, subject to a security held by UKIO.

Cheers.

And can you confirm that the shares are "worthless" :wink:

[Thecat23]

I'm just happy I didn't pay a tenner to find this out. champagne and cigars I've been hearing, Deary dear lets face it people no one on this board has a clue what's going on, it's all just guess work.

P.s I've got 5 million pounds waiting for one lucky member just pm me your bank details sort code expiry date etc and the winner will be announced in the next week

The £10 folk give is for the running of the site and added bonus of info before it becomes public knowledge. Some people do know more than others so that's also wrong.

You are coming across a bit of an arse to be honest. Unless you are at the wind up and haven't added a smiley face. If so I take this back.

[CropleyWasGod]

Cheers.

And can you confirm that the shares are "worthless" :wink:

The shares are worth what FOH are prepared to pay for them. :greengrin

[Leithenhibby]

The shares are worth what FOH are prepared to pay for them. :greengrin

Can anybody else step in at this stage and make it a bidding war! :aok:

UBIG could play hard ball though...........

[KdyHby]

UBIG are now saying "if you want us to vote for this then we want money for our shares"
(will that be about the same amount, it would seem thats why the begging bowl is out again)

will they be able to cobble another £2.5m together by February ?

Aren't UBIG's shares frozen?

[jacomo]

Neither own it.

HMFC (IA) own it, subject to a security held by UKIO.

Ok, sure. But anyhow it's UKIO that would receive any money from FoH for the PBS, not UBIG.

[Weststandwanab]

The shares are worth what FOH are prepared to pay for them. :greengrin Or what A. N. Other would pay for them!


Aren't UBIG's shares frozen? They are currently.

[CropleyWasGod]

Ok, sure. But anyhow it's UKIO that would receive any money from FoH for the PBS, not UBIG.

Yup.:agree:

[Gingertosser]

Aren't UBIG's shares frozen?

Until February..... at the earliest

[Leithenhibby]

Until February..... at the earliest

That's a nice, "positive" :greengrin

[CropleyWasGod]

Until February..... at the earliest

Not necessarily.

It's not in UBIG's power to unfreeze the shares. They were frozen by the Lithuanian Courts.

[Leithenhibby]

Not necessarily.

It's not in UBIG's power to unfreeze the shares. They were frozen by the Lithuanian Courts.


Please say it could be longer. :wink:
This is got to be the highest hurdle they have to jump next year?

[TonyStokeprano]

The £10 folk give is for the running of the site and added bonus of info before it becomes public knowledge. Some people do know more than others so that's also wrong.

You are coming across a bit of an arse to be honest. Unless you are at the wind up and haven't added a smiley face. If so I take this back.

Yeah I'm at the wind up, I don't have 5 million pound for one lucky member.

[Weststandwanab]

Not necessarily.

It's not in UBIG's power to unfreeze the shares. They were frozen by the Lithuanian Courts.Absolutely spot on. If they drag their feet BDO may simply run out of money and we all know what would happen then......

[CropleyWasGod]

Please say it could be longer. :wink:
This is got to be the highest hurdle they have to jump next year?

It could be.

It could happen on Monday.

It is almost outwith their control.

[Islington Hibs]

I don't know what is going to happen but it seems pretty clear they are going to get out of this early next year. The hurdles are being slowly but surely cleared. If so they have got away with murder and they are very lucky that the principal that 'you own a pound and you have a probelm you own £30m and Lithuania has problem.'

There are many possible outcomes from this. The most likely (but not certain) is they are relegated. Not certain because, like it or not Hearts have a divine self belief/ delusion (we could learn a lesson) and a couple of wins and they will really put pressure on Killie. Further Killie could go into admin themselves. So hearts relegation is likely but far from a certainty in my view.

If Hearts go down they will probably come straight back up (via the play offs) but with little cash. With FoH running them there is likely to acrimony, poor leadership and mediocrity. Fan groups sound nice but committees don't work in my view, especially undercapitalised ones) However it is likely FoH will flounder as I doubt the direct debits will flow through. At that point it is very possible some 'businessman' will seize the opportunity and buy them for a song (however badly FoH do they will only have very modest millions of debt by then with the rest written off). Like it or not they remain a decent franchise and a new owner could be anyone from some rich Saudi princeling to some third rate car salesman in Linlithgow. We just don't know.

What is for sure unless they can find their princeling there purchase 'success' is over, although not their arrogance I suspect.

[Thecat23]

Yeah I'm at the wind up, I don't have 5 million pound for one lucky member.

That did make me smile! :greengrin

[Thecat23]

I couldn't care if they survive or not now. As if they do they really will be piss poor and the fair weather fans will disappear. Hearts to me have already died in the shape and form we have grown to know.

They will be bottom 6 no doubt if they do come right back up. To me it could be a lot funnier watching them take a few doings and struggling than going pop altogether. :greengrin

[Hermit Crab]

From KB. Words fail me.

Ripping off charities with no recrimination.

:verysmug:

We should start charging marie curie to stand in the enclosures from now on aswell.

60/40 split plz.

[Hibs7]

From KB. Words fail me.

Ripping off charities with no recrimination.

:verysmug:

We should start charging marie curie to stand in the enclosures from now on aswell.

60/40 split plz.

Just the sort of thing I expect from a bunch of inbred Neanderthals ... I hope they rot in hell !

[GlenrothesHibee]

From KB. Words fail me.

Ripping off charities with no recrimination.

:verysmug:

We should start charging marie curie to stand in the enclosures from now on aswell.

60/40 split plz.

Thats why we love them :rolleyes:

[Pretty Boy]

Tbh i lost interest in this whole situation quite a while ago.

Getting any kind of credible info has been nigh on on impossible. That's no disrespect to guys like CWG and Caversham etc, they done a fantastic job of explaining complex accounting laws and procedures to dummies like me but pretty much everything that was going on in Lithuania was impossible to predict and it looks like the admins across there just want rid of the Hearts 'problem' asap.

Let Hearts fans have their wee bit of fun. They won't be out of admin for a while yet and will have to learn what it's like to deal with the realities of the financial climate in Scottish football these days. Too many of the younger generation of Hearts fans have never known them live within their means and they'll get bored of shelling out cash to watch a team that's a true reflection of their situation soon enough. I hope that many of the older generation of Hearts fans are a bit more humble about this situation, they should be embarrassed really, ripping off charities and local businesses isn't big or clever. I doubt it though. The Mercer, Robinson and Romanov years seems to have warped them into a shower of arrogant, ignorant and shameless erseholes.

Anyway what happens will happen. I'm a Hibs supporter and i'll be concentrating my energies on backing Hibs. Let those ***** worry about and deal with their own mess.

[PapillonVert]

Absolutely spot on. If they drag their feet BDO may simply run out of money and we all know what would happen then......

Presumably BDO are also dependent on the CVA going through in February (and the £2.5 million being there) before they can take their fees.

Anyone know if they have been paid anything at all for their efforts so far?

[Joy Zipper]

'you owe a pound and you have a probelm you owe £30m and Lithuania has problem.'


Sorted that for you. There is a (not too) subtle difference.

[HibbySpurs]

Tbh i lost interest in this whole situation quite a while ago.

Getting any kind of credible info has been nigh on on impossible. That's no disrespect to guys like CWG and Caversham etc, they done a fantastic job of explaining complex accounting laws and procedures to dummies like me but pretty much everything that was going on in Lithuania was impossible to predict and it looks like the admins across there just want rid of the Hearts 'problem' asap.

Let Hearts fans have their wee bit of fun. They won't be out of admin for a while yet and will have to learn what it's like to deal with the realities of the financial climate in Scottish football these days. Too many of the younger generation of Hearts fans have never known them live within their means and they'll get bored of shelling out cash to watch a team that's a true reflection of their situation soon enough. I hope that many of the older generation of Hearts fans are a bit more humble about this situation, they should be embarrassed really, ripping off charities and local businesses isn't big or clever. I doubt it though. The Mercer, Robinson and Romanov years seems to have warped them into a shower of arrogant, ignorant and shameless erseholes.

Anyway what happens will happen. I'm a Hibs supporter and i'll be concentrating my energies on backing Hibs. Let those ***** worry about and deal with their own mess.

:agree:
:top marks:flag:

[oneone73]

Tbh i lost interest in this whole situation quite a while ago.

Getting any kind of credible info has been nigh on on impossible. That's no disrespect to guys like CWG and Caversham etc, they done a fantastic job of explaining complex accounting laws and procedures to dummies like me but pretty much everything that was going on in Lithuania was impossible to predict and it looks like the admins across there just want rid of the Hearts 'problem' asap.

Let Hearts fans have their wee bit of fun. They won't be out of admin for a while yet and will have to learn what it's like to deal with the realities of the financial climate in Scottish football these days. Too many of the younger generation of Hearts fans have never known them live within their means and they'll get bored of shelling out cash to watch a team that's a true reflection of their situation soon enough. I hope that many of the older generation of Hearts fans are a bit more humble about this situation, they should be embarrassed really, ripping off charities and local businesses isn't big or clever. I doubt it though. The Mercer, Robinson and Romanov years seems to have warped them into a shower of arrogant, ignorant and shameless erseholes.

Anyway what happens will happen. I'm a Hibs supporter and i'll be concentrating my energies on backing Hibs. Let those ***** worry about and deal with their own mess.

Well said

[TonyStokeprano]

:troll::rules:

A troll because I replied to someone calling me an arse ?? No bother mate. People are allowed an opinion, my opinion is that some posters not all like to exaggerate how much inside info they have. If that offends anyone feel free to ban me.

[Benny Brazil]

I'm just happy I didn't pay a tenner to find this out. champagne and cigars I've been hearing, Deary dear lets face it people no one on this board has a clue what's going on, it's all just guess work.

P.s I've got 5 million pounds waiting for one lucky member just pm me your bank details sort code expiry date etc and the winner will be announced in the next week

So your happy to use this site but not happy to help pay for its upkeep? Strange.

[SteveHFC]

CVA conditionally agreed :fuming: ;-)

[Ozyhibby]

2nd meetings taking a while?

[Aldo]

CVA conditionally agreed :fuming: ;-)

Stevie I think that was always going to be the case... I wanted them wiped out but heay ho they will be in Admin until Feb. remember what BDO said as well about them only have enough money until March.

They are rooked with no money and are in Admin. There is still the 30 day cooling off period. A lot can happen in that time.

O and for all you smug yams looking in enjoy your new found saviours for the time being..., it won't always be like this.

Remember this - you will always be the club with no shame.... Youve ripped into the heart if your community, stole from your own and robbed a charity (use) of their monies. Enjoy

[Heisenberg]

2nd meetings taking a while?

Jamie Borthwick ‏@jamiekborthwick (https://twitter.com/BBCBMcLauchlin) 51s (https://twitter.com/jamiekborthwick/status/406404603354562561) Members agree to the CVA with 100% in favour. Second stage of Hearts exiting administration is complete #heartscva (https://twitter.com/search?q=%23heartscva&src=hash)

[greenginger]

Jamie Borthwick ‏@jamiekborthwick (https://twitter.com/jamiekborthwick) 51s (https://twitter.com/jamiekborthwick/status/406404603354562561) Members agree to the CVA with 100% in favour. Second stage of Hearts exiting administration is complete #heartscva (https://twitter.com/search?q=%23heartscva&src=hash)

I take it that would be 100% of those voting not every share holder.

[Zondervan]

Haha!

So all those with so-called inside information from Lithuania were just kidding us on.

Well done lads!!

[TonyStokeprano]

So your happy to use this site but not happy to help pay for its upkeep? Strange.

to be fair i rarely use the site and dont have enough posts to become a private member anyway. Its not the money im talking about its a tounge in cheek dig at peoples inside info or lack of it. Anything else pal ?

[SmashinGlass]

Jamie Borthwick ‏@jamiekborthwick (https://twitter.com/BBCBMcLauchlin) 51s (https://twitter.com/jamiekborthwick/status/406404603354562561) Members agree to the CVA with 100% in favour. Second stage of Hearts exiting administration is complete #heartscva (https://twitter.com/search?q=%23heartscva&src=hash)

Interesting wording used there. Second stage complete, assumes first stage is a formality. The reality is anything but.....

[Craig_in_Prague]

UBIG abstain again, with all other shareholders in favour. 30 day cool off period now begins. #heartscva

[SmashinGlass]

Haha!

So all those with so-called inside information from Lithuania were just kidding us on.

Well done lads!!

This is far from over. In fact the way I see it, it's only just begun...

[bighairyfaeleith]

if ubig abstain then they haven't agreed to sell the shares, how does this play out?

[Aldo]

to be fair i rarely use the site and dont have enough posts to become a private member anyway. Its not the money im talking about its a tounge in cheek dig at peoples inside info or lack of it. Anything else pal ?

Well if your no happy with what you read on here don't bother. Go and read elsewhere??

No wonder folk don't want to post stuff cos folk like yourself come along and diss them at every opportunity.

No info is 100%.

I really do wonder sometimes I really do.

[Craig_in_Prague]

Stage 5 is completing deal in required timescale.
Retweeted by Foundation of Hearts
Expand Reply Retweet Favorite More
Heart of Midlothian ‏@JamTarts 8m
Stage 4 is sale and purchase agreement
Retweeted by Foundation of Hearts
Expand Reply Retweet Favorite More
Heart of Midlothian ‏@JamTarts 9m
Stage 3 is securing shares from UBIG.
Retweeted by Foundation of Hearts
Expand Reply Retweet Favorite More
Heart of Midlothian ‏@JamTarts 9m
Stage 2 is members meeting today. 50% of votes in favour requires.
Retweeted by Foundation of Hearts
Expand Reply Retweet Favorite More
Foundation of Hearts ‏@The_FoH 9m
CVA - first stage passed at 87% of vote.
Expand Reply Retweet Favorite More
Heart of Midlothian ‏@JamTarts 10m
BREAKING: 87% of creditors vote in favour of CVA.
Retweeted by Foundation of Hearts

please god, let something go wrong here-on in !

FFS :(

[QMU-1875]

They can now sign players in January? Hahaha this is unbelievable!

[JimBHibees]

They can now sign players in January? Hahaha this is unbelievable!

No they cant they are still in administration and will be until Feb 14.

[TonyStokeprano]

Well if your no happy with what you read on here don't bother. Go and read elsewhere??

No wonder folk don't want to post stuff cos folk like yourself come along and diss them at every opportunity.

No info is 100%.

I really do wonder sometimes I really do.

Why would folk be bothered about what i think about their information, I'm a nickname on a computer screen if they're scared of that they should man up a bit, i really do wonder sometimes i really do.

[bighairyfaeleith]

They can now sign players in January? Hahaha this is unbelievable!

no they can't, they are still in admin and unlikely to be out in the next few weeks

[flash]

They can now sign players in January? Hahaha this is unbelievable!

It's unbelievable because it isn't true. The hysteria on here is embarrassing.

[Aldo]

Why would folk be bothered about what i think about their information, I'm a nickname on a computer screen if they're scared of that they should man up a bit, i really do wonder sometimes i really do.

But childish there with the wee repeat thing is it not :-D

[GlasgowHibee]

I'm still very confused by all of this - share issue in particular. Looking for a quick answer, now that the CVA has been agreed, does this mean it's set in stone that they'll be out of administration and also is liquidation only a wish now?

[DaveF]

But childish there with the wee repeat thing is it not :-D


Why would folk be bothered about what i think about their information, I'm a nickname on a computer screen if they're scared of that they should man up a bit, i really do wonder sometimes i really do.

We did all this last week, so let's concentrate on the mass hysteria of the CVA going through. Please :agree:

[SteveHFC]

SteveHFC, since you're obviously reading this thread, I want you to know that you are a fool.

From kickback :faf:

[IFONLY]

They can now sign players in January? Hahaha this is unbelievable! what part of transfer embargo don't you understand no matter what they cant sign players until Feb 2014

[QMU-1875]

no they can't, they are still in admin and unlikely to be out in the next few weeks

Says on twitter cooling off period has begun

[Aldo]

We did all this last week, so let's concentrate on the mass hysteria of the CVA going through. Please :agree:

Seeing you said please (I'll think about it??) :-D

[Craig_in_Prague]

I'm still very confused by all of this - share issue in particular. Looking for a quick answer, now that the CVA has been agreed, does this mean it's set in stone that they'll be out of administration and also is liquidation only a wish now?

I know theres a lot of posts going on, but the post earlier on the stages is quite clear no?

Stage 5 is completing deal in required timescale.
Stage 4 is sale and purchase agreement
Stage 3 is securing shares from UBIG.
Stage 2: 100% pass
Stage 1: CVA - first stage passed at 87% of vote.

So, until UBIG have their own creditors meeting (late January), we probably won't know what will happen with the shares until then I guess?

Jackson: "This is a good result but we have some way to go before the deal is concluded"

[weonlywon6-2]

Tbh i lost interest in this whole situation quite a while ago.

Getting any kind of credible info has been nigh on on impossible. That's no disrespect to guys like CWG and Caversham etc, they done a fantastic job of explaining complex accounting laws and procedures to dummies like me but pretty much everything that was going on in Lithuania was impossible to predict and it looks like the admins across there just want rid of the Hearts 'problem' asap.

Let Hearts fans have their wee bit of fun. They won't be out of admin for a while yet and will have to learn what it's like to deal with the realities of the financial climate in Scottish football these days. Too many of the younger generation of Hearts fans have never known them live within their means and they'll get bored of shelling out cash to watch a team that's a true reflection of their situation soon enough. I hope that many of the older generation of Hearts fans are a bit more humble about this situation, they should be embarrassed really, ripping off charities and local businesses isn't big or clever. I doubt it though. The Mercer, Robinson and Romanov years seems to have warped them into a shower of arrogant, ignorant and shameless erseholes.

Anyway what happens will happen. I'm a Hibs supporter and i'll be concentrating my energies on backing Hibs. Let those ***** worry about and deal with their own mess.


I hear what you are saying but i dont think any hearts fan gives a toss what has happened.In the big scheme of things they have got of lightly and even if they do get relegated they will get decent money in through season tickets to buy players

[Gus Fring]

if ubig abstain then they haven't agreed to sell the shares, how does this play out?

it is possible UBIG's admin doesn't feel he has enough information to vote either way. They can't do anything just now anyway


They can now sign players in January? Hahaha this is unbelievable!

They aren't out of admin yet so no, they can't. The ban on signing players in January is a fixed ban, it will not be lifted. The earliest Hearts can sign players is February 1st and that is only if they are out of Admin by then which is still unlikely despite today's events.

All thats happened today is their CVA has been agreed.
No shares have been transferred
FOH don't own hearts yet
Hearts are still in administration
They can't sign players
They are still on -3 points.

The thing to keep an eye on now is UBIG. Why did they abstain from both votes today? Are they up to something? Are they just not in a position to do so? UBIG are Hearts majority shareholder, the ball is in their court now. UKIO have given up there leverage.

[Leithenhibby]

UBIG abstain again, with all other shareholders in favour. 30 day cool off period now begins. #heartscva

Wrong, ubig meeting scheduled for the end of Jan 2014, IF, it takes place and FoH have the money, let alone the option to buy the shares (still frozen) then the 30 days kick in...


They can now sign players in January? Hahaha this is unbelievable!

No they can't......... :wink:

[Craig_in_Prague]

Adomonis of Ukio admins: "I should admit the fact that our decision has a substantial part of emotion in it" #heartscva

WTF?

Pathetic.

[Craig_in_Prague]

Wrong, ubig meeting scheduled for the end of Jan 2014, IF, it takes place and FoH have the money, let alone the option to buy the shares (still frozen) then the 30 days kick in...



No they can't......... :wink:

I was only copying what STV reported.

[stevejordan]

Can someone who understands what all this means please let us know i for one dont have a clue what is going on.

[TonyStokeprano]

We did all this last week, so let's concentrate on the mass hysteria of the CVA going through. Please :agree:

Not a problem

[Dashing Bob S]

It's unbelievable because it isn't true. The hysteria on here is embarrassing.

Yep.

1. UKIOS, according to all sources, were always going to approve the CVA. This has simply been ratified today.

2. But it means little until UBIG also approve the CVA.

3. UBIG currently have their shares frozen by the Lithuanian government - so are not in a position to approve/reject the CVA.

4. Indications are, were they/when/if they are in a position to do so, they will be a lot less sympathetic than UKIOS.

The CVA is only really 'approved' subject to 2, 3 & 4, so behind the yam semantics, it is not approved at all.

What we shall see now is a wildly optimistic crowing from Gorgie, with spokespersons for FOH and the Scottish media talking about a 'timetable for the exit of administration' which they can't possibly know, as this is, and has always been, subject to the on-going investigations by the Lithuanian authorities, which may result in the unfreezing of UBIG shares, and, also, a positive decision on the CVA made by UBIG administrators.

If the investigations are concluded swiftly, and UBIG admins sympathetic to Hearts plight, FOH will claim it as a great victory. (Then they will **** themselves, quickly realising that they have an unworkable business model to finance an SPL club). If they drag on, and/or the UBIG admins are hostile to the CVA, there will be grumblings this winter at how they are being 'pushed to the brink of extinction' by anonymous foreigners.

Either way, it remains completely out of their hands. Basically, today was a pretty meaningless vote other than a symbolic 'bread-and-circuses' morale boost for the Jambos. The December fixture card, and (hopefully, though we don't know) on-going protracted investigations by the the Lithuanian government and/or a hostile UBIG admin, should tarnish that gloss somewhat.

[Thecat23]

Can someone who understands what all this means please let us know i for one dont have a clue what is going on.

Same here mate but I think I've just guessed it...... Bruce Willis is a ghost.

[Aldo]

Some trolling getting done in here like. PB's been quoted quite a bit in Brokeback... They are back to their jovial ways 1902 5-1 blah blah.

But as I've earlier said they will always be the club that robbed charities and local business's and didn't pay their way.., cheated their way to this and that.

For you all looking in .... Still a long way to go for the club with no shame.

C'mon uncle Boab get yur finger oot and scupper their plans.

[Leithenhibby]

I was only copying what STV reported.

Cool, but to be fair, have the media covered this story in-depth :cb

[Dashing Bob S]

it is possible UBIG's admin doesn't feel he has enough information to vote either way. They can't do anything just now anyway



They aren't out of admin yet so no, they can't. The ban on signing players in January is a fixed ban, it will not be lifted. The earliest Hearts can sign players is February 1st and that is only if they are out of Admin by then which is still unlikely despite today's events.

All thats happened today is their CVA has been agreed.
No shares have been transferred
FOH don't own hearts yet
Hearts are still in administration
They can't sign players
They are still on -3 points.

The thing to keep an eye on now is UBIG. Why did they abstain from both votes today? Are they up to something? Are they just not in a position to do so? UBIG are Hearts majority shareholder, the ball is in their court now. UKIO have given up there leverage.

My money is on their hands being tied by the frozen shares. I'm sure they would be happy to react, either positively, or negatively if they could. However, as you perhaps suggest, they might be playing a longer ball game, which could only involve the PBS, as Hearts sole real asset.

[Craig_in_Prague]

Cool, but to be fair, have the media covered this story in-depth :cb

Their complete lack of grasping the real issues since day 1, has been really disgusting.

They all appeared to have painted a positive story on everything that has happened.

Yet as we are right now, nothing has changed. No shares!

[Aldo]

My money is on their hands being tied by the frozen shares. I'm sure they would be happy to react, either positively, or negatively if they could. However, as you perhaps suggest, they might be playing a longer ball game, which could only involve the PBS, as Hearts sole real asset.

I think that there might be a number of other parties wanting to get their grubby paws on the shares as as your rightly mentioned Bob it's their only real asset.

UBIG probably know this and there might even be a bidding war In which we know the FOH won't be able to bid anymore in cos they are rooked.

[leggeto]

It is still a case of tick tock for me

[Thecat23]

Guys cheer up, It's friday, we're Hibs fans, we're no them, we haven't robbed anyone, we can hold our heads high, we don't don't cheating.

Really hope I make it onto jobbieback with this :greengrin

[Leithenhibby]

Their complete lack of grasping the real issues since day 1, has been really disgusting.

They all appeared to have painted a positive story on everything that has happened.

Yet as we are right now, nothing has changed. No shares!

Spot on, nothing has changed today and HMFC may take this as a victory, but make no mistake, it ain't over by a country mile.......... Pleasing.


It is still a case of tick tock for me

Aye :wink:

[Aldo]

Guys cheer up, It's friday, we're Hibs fans, we're no them, we haven't robbed anyone, we can hold our heads high, we don't don't cheating. Really hope I make it onto jobbieback with this :greengrin

This

They are going to have a super dooper to get them out of relegation come feb with

Craig Gordon, Stewart, Bouzid, Bawsack Naysmith and others signing.

[Geo_1875]

Jamie Borthwick ‏@jamiekborthwick (https://twitter.com/BBCBMcLauchlin) 51s (https://twitter.com/jamiekborthwick/status/406404603354562561) Members agree to the CVA with 100% in favour. Second stage of Hearts exiting administration is complete #heartscva (https://twitter.com/search?q=%23heartscva&src=hash)

I assume the 100% is not including UBIG and Vlad's mother-in-law or whoever it is that has the 15% that was transferred out?

[Thecat23]

BBCBMcLauchlin ‏@BBCBMcLauchlin (https://twitter.com/BBCBMcLauchlin)1m (https://twitter.com/BBCBMcLauchlin/status/406414044888055808)
Hearts administrator Bryan Jackson tells BBC Scotland it will be March or April before club exits administration

[Hermit Crab]

This

They are going to have a super dooper to get them out of relegation come feb with

Craig Gordon, Stewart, Bouzid, Bawsack Naysmith and others signing.

Rudolf Hess skacel signing for them again I see. He's 34 now. No kicked a ball for a year.

[leggeto]

Spot on, nothing has changed today and HMFC may take this as a victory, but make no mistake, it ain't over by a country mile.......... Pleasing.



Aye :wink:

but things are looking up for them now,when they exit admin next month they'll be able to sigh that German super kid jurgen döun

[weonlywon6-2]

Tbh i lost interest in this whole situation quite a while ago.

Getting any kind of credible info has been nigh on on impossible. That's no disrespect to guys like CWG and Caversham etc, they done a fantastic job of explaining complex accounting laws and procedures to dummies like me but pretty much everything that was going on in Lithuania was impossible to predict and it looks like the admins across there just want rid of the Hearts 'problem' asap.

Let Hearts fans have their wee bit of fun. They won't be out of admin for a while yet and will have to learn what it's like to deal with the realities of the financial climate in Scottish football these days. Too many of the younger generation of Hearts fans have never known them live within their means and they'll get bored of shelling out cash to watch a team that's a true reflection of their situation soon enough. I hope that many of the older generation of Hearts fans are a bit more humble about this situation, they should be embarrassed really, ripping off charities and local businesses isn't big or clever. I doubt it though. The Mercer, Robinson and Romanov years seems to have warped them into a shower of arrogant, ignorant and shameless erseholes.

Anyway what happens will happen. I'm a Hibs supporter and i'll be concentrating my energies on backing Hibs. Let those ***** worry about and deal with their own mess.


I hear what you are saying but i dont think any hearts fan gives a toss what has happened.In the big scheme of things they have got of lightly and even if they do get relegated they will get decent money in through season tickets to buy players

[Aldo]

BBCBMcLauchlin ‏@BBCBMcLauchlin (https://twitter.com/BBCBMcLauchlin)1m (https://twitter.com/BBCBMcLauchlin/status/406414044888055808) Hearts administrator Bryan Jackson tells BBC Scotland it will be March or April before club exits administration

Ha ha. Sounds bout right.

[Leithenhibby]

BBCBMcLauchlin ‏@BBCBMcLauchlin (https://twitter.com/BBCBMcLauchlin)1m (https://twitter.com/BBCBMcLauchlin/status/406414044888055808)
Hearts administrator Bryan Jackson tells BBC Scotland it will be March or April before club exits administration





Stand at ease, Guys :wink:

[CB_NO3]

Has anything actually changed from about 10 days ago that we didn't really know about? I dont think it has. We knew the Ukio admin team were going to accept the CVA. It was reported last week on here. Its now upto FOH to get hold of the UBIG shares.

Why did the UBIG admin team abstain their vote and not just accept the CVA and get away from the whole situation? Sounds to me they obviously want some cash for them. I reckon a few hundred grand will do it tbh. My question is, can anyone bid for these shares?

[Treadstone]

Jamie Borthwick ‏@jamiekborthwick (https://twitter.com/jamiekborthwick)33m (https://twitter.com/jamiekborthwick/status/406409120364113920)
Adomonis of Ukio admins: "I should admit the fact that our decision has a substantial part of emotion in it" #heartscva (https://twitter.com/search?q=%23heartscva&src=hash)

:greengrin I'm sure the Lithuanian taxpayer will be delighted.

[Bishop Hibee]

BBCBMcLauchlin ‏@BBCBMcLauchlin (https://twitter.com/BBCBMcLauchlin)1m (https://twitter.com/BBCBMcLauchlin/status/406414044888055808)
Hearts administrator Bryan Jackson tells BBC Scotland it will be March or April before club exits administration[FONT=helvetical
[/FONT]

The truth is out there. More twists and turns to come I'd bet. Mon the UBIG!

[Weststandwanab]

My money is on their hands being tied by the frozen shares. I'm sure they would be happy to react, either positively, or negatively if they could. However, as you perhaps suggest, they might be playing a longer ball game, which could only involve the PBS, as Hearts sole real asset. The frozen shares and the PBS are the crucial parts to this jigsaw and any outcome.


Guys cheer up, It's friday, we're Hibs fans, we're no them, we haven't robbed anyone, we can hold our heads high, we don't don't cheating.

Really hope I make it onto jobbieback with this :greengrin Me too.


BBCBMcLauchlin ‏@BBCBMcLauchlin (https://twitter.com/BBCBMcLauchlin)1m (https://twitter.com/BBCBMcLauchlin/status/406414044888055808)
Hearts administrator Bryan Jackson tells BBC Scotland it will be March or April before club exits administration


By which time it is possible BDO will have ran out of money ! FOH fund their operations without knowing if the C.V.A. will be delivered ?


Rudolf Hess skacel signing for them again I see. He's 34 now. No kicked a ball for a year. He has pulled a few pints though !

[jacomo]

Yep.

1. UKIOS, according to all sources, were always going to approve the CVA. This has simply been ratified today.

2. But it means little until UBIG also approve the CVA.

3. UBIG currently have their shares frozen by the Lithuanian government - so are not in a position to approve/reject the CVA.

4. Indications are, were they/when/if they are in a position to do so, they will be a lot less sympathetic than UKIOS.

The CVA is only really 'approved' subject to 2, 3 & 4, so behind the yam semantics, it is not approved at all.

What we shall see now is a wildly optimistic crowing from Gorgie, with spokespersons for FOH and the Scottish media talking about a 'timetable for the exit of administration' which they can't possibly know, as this is, and has always been, subject to the on-going investigations by the Lithuanian authorities, which may result in the unfreezing of UBIG shares, and, also, a positive decision on the CVA made by UBIG administrators.

If the investigations are concluded swiftly, and UBIG admins sympathetic to Hearts plight, FOH will claim it as a great victory. (Then they will **** themselves, quickly realising that they have an unworkable business model to finance an SPL club). If they drag on, and/or the UBIG admins are hostile to the CVA, there will be grumblings this winter at how they are being 'pushed to the brink of extinction' by anonymous foreigners.

Either way, it remains completely out of their hands. Basically, today was a pretty meaningless vote other than a symbolic 'bread-and-circuses' morale boost for the Jambos. The December fixture card, and (hopefully, though we don't know) on-going protracted investigations by the the Lithuanian government and/or a hostile UBIG admin, should tarnish that gloss somewhat.

Why would they be? UBIG stand to get nothing other than possibly what they can get from selling their shares.

UKIO had a real motive to reject the CVA if they thought they could sell the PBS to someone else for more money. Now they've accepted the proposal from FoH, why would UBIG stand in the way?

[CropleyWasGod]

Why would they be? UBIG stand to get nothing other than possibly what they can get from selling their shares.

UKIO had a real motive to reject the CVA if they thought they could sell the PBS to someone else for more money. Now they've accepted the proposal from FoH, why would UBIG stand in the way?

UBIG have some power.

Had they rejected the CVA, and the company had gone into liquidation, UBIG would have got nothing. In the CVA situation, they may get some cash out of selling the shares.

Cash is always the motive. :agree:

[carnoustiehibee]

Guys cheer up, It's friday, we're Hibs fans, we're no them, we haven't robbed anyone, we can hold our heads high, we don't don't cheating.

Really hope I make it onto jobbieback with this :greengrin

Not now, you just told me Bruce Willis is a ghost in die hard

[matty_f]

UBIG have some power.

Had they rejected the CVA, and the company had gone into liquidation, UBIG would have got nothing. In the CVA situation, they may get some cash out of selling the shares.

Cash is always the motive. :agree:

Yep, those shares are worth a lot more this afternoon than they are this morning.

[jacomo]

UBIG have some power.

Had they rejected the CVA, and the company had gone into liquidation, UBIG would have got nothing. In the CVA situation, they may get some cash out of selling the shares.

Cash is always the motive. :agree:

Yes, possibly an auction will develop between Jamieson and FoH, possibly not. I have no idea what's going on with that.

But - either way - I can't see why UBIG would reject a CVA now.

[Thecat23]

Not now, you just told me Bruce Willis is a ghost in die hard

I was talking about Moonlighting sorry! :greengrin

[Kato]

Cash is always the motive. :agree:

Except when the UKIO admin allow "emotions" to get in the way of cash apparently.

[The_Sauz]

Taken from the BBC website
"Whilst the journey is not over yet and there is much work to be done, we can move forward with a degree of optimism that Heart of Midlothian can have a future we can be very proud of," added Murray.
They really have no shame :fuming:

[Aldo]

Taken from the BBC website They really have no shame :fuming:

They never have done and never will do.

Just shows you the sort of folk the majority of them really are.

[jacomo]

Taken from the BBC website
They really have no shame :fuming:

Hot, salty tears of pride no doubt rolling down I am an MP's puffy cheeks right now. So proud.

http://www.scotsman.com/sport/football/spfl/hearts-list-of-creditors-in-full-1-3024802

[The_Sauz]

They never have done and never will do.

Just shows you the sort of folk the majority of them really are.

If that Murray had been my local MP, I would be at his office first thing asking him why they can make a statement like this, considering all the common folk that have have had their money stolen from heart Of Midlothian Football Club over the last 10 years! I'm sure all the Aluminium workers in Bosnia will sleep easy now knowing that their pension fund has went to good use :brickwall

[Aldo]

If that Murray had been my local MP, I would be at his office first thing asking him why they can make a statement like this, considering all the common folk that have have had their money stolen from heart Of Midlothian Football Club over the last 10 years! I'm sure all the Aluminium workers in Bosnia will sleep easy now knowing that their pension fund has went to good use :brickwall

BL the yams on Brokeback are in denial re charities etc.

For them looking in Lady Haig Poppy. Nuff said there then.

Yip and the above mate ... They have no shame.

[PapillonVert]

UBIG have some power.

Had they rejected the CVA, and the company had gone into liquidation, UBIG would have got nothing. In the CVA situation, they may get some cash out of selling the shares.

Cash is always the motive. :agree:

CWG, can you explain exactly what someone offering for the shares will get? I know, "the shares", but what exactly does a purchaser stand to gain from buying these shares?

Ta.

[cabbageandribs1875]

http://news.bbcimg.co.uk/media/images/70954000/jpg/_70954009_8795241.jpg








"Whilst the journey is not over yet and there is much work to be done, we can move forward with a degree of optimism that Heart of Midlothian can have a future we can be very proud of," added Murray.


does this grunt wae the smarmy coupon think he's some kind of stand-up comic or sommit

[Crazyhorse]

My money is on their hands being tied by the frozen shares. I'm sure they would be happy to react, either positively, or negatively if they could. However, as you perhaps suggest, they might be playing a longer ball game, which could only involve the PBS, as Hearts sole real asset.

Can I just clarify. Does today mean that FOH have the PBS for £2.5m? BUT Ubig can still sell the shares to someone else? And the talk of property developers in with last minute offers was rubbish?:confused:

[CropleyWasGod]

CWG, can you explain exactly what someone offering for the shares will get? I know, "the shares", but what exactly does a purchaser stand to gain from buying these shares?

Ta.

They have control of the company, which effectively means the assets.

[CropleyWasGod]

Can I just clarify. Does today mean that FOH have the PBS for £2.5m? BUT Ubig can still sell the shares to someone else? And the talk of property developers in with last minute offers was rubbish?:confused:

No.

If the CVA is completed, FOH will own the shares in the company.

It is the company that will own the PBS.

[Pretty Boy]

Jamie Borthwick ‏@jamiekborthwick (https://twitter.com/jamiekborthwick)33m (https://twitter.com/jamiekborthwick/status/406409120364113920)
Adomonis of Ukio admins: "I should admit the fact that our decision has a substantial part of emotion in it" #heartscva (https://twitter.com/search?q=%23heartscva&src=hash)

:greengrin I'm sure the Lithuanian taxpayer will be delighted.

The Hearts saga is merely a single snowflake on the tip of the iceberg when it comes to unravelling the UKIO mess.

By emotion what he mean is he was delighted to be able to try and wash his hands of an insignificant Scottish football team that is more bother than it is worth for relatively little effort.

[Aldo]

"Whilst the journey is not over yet and there is much work to be done, we can move forward with a degree of optimism that Heart of Midlothian can have a future we can be very proud of," added Murray. does this grunt wae the smarmy coupon think he's some kind of stand-up comic or sommit

Politicians - eh never far away from controversy. Happy that his club never played rent or rates or whatever it is for months on end.

Wonder if he would back up one of his constitutes with such vigour if they were skint and didn't pay up??

[Dashing Bob S]

No.

If the CVA is completed, FOH will own the shares in the company.

It is the company that will own the PBS.

IF UBIG are both willing and able to play ball. :devil:

[blindsummit]

Except when the UKIO admin allow "emotions" to get in the way of cash apparently.

This!

Spolier alert, there's a big rant coming, so look away of you don't want to get bored :greengrin

I cannot for the life of understand why the UKIO and UBIG Admins would give a flying fig for the survival of a piddling Scottish Football Club, given the large scale criminal shafting of the Lithuanian public. And yet, the survival of the Football Club seems to have won their hearts (no pun intended) and minds, rather than reclaiming the maximum sum of money for their creditors by a land sale.

Let's not forget that Hearts were no innocent victims here. Hearts were Vlad and Vlad was Hearts and millions of pounds flowed in, out, through and around Hearts in a decidely dodgy way. I just don't get it, I really don't. Are cheating Football Clubs always going to be able to dodge the true consequences of their actions? Why are they a special case in Company law and Society at large? And what possible reason can any other club have for living within the rules when the see vermin like Hearts and Sevco getting away with legalised fraud in racking up huge debts and then just dumping them and carrying on as if nothing had happened? There are real world consequences to their debt dumping, real businesses are harmed and real people lose their jobs.

Why would the Lithuanians be so accomodating here? They should be nailing Hearts to the wall and maximising the return to the Lithuanian public by liquidating them. Not getting all soppy and letting them live to cheat another day.

I had high hopes that because the Lithuanian Government and non UK administrators were involved that this one would have been done properly, but alas it seems that, no matter the country, Administration is a joke. And BDO are no different or any better than Duff & Phelps in the Sevco case. They want large football admin fees, so rather than protecting creditors, they will always seek to help clubs squirm out of their social responsibilites.

I'm a bit peeved. Can you tell? :greengrin

[The_Sauz]

BL the yams on Brokeback are in denial re charities etc.

For them looking in Lady Haig Poppy. Nuff said there then.

Yip and the above mate ... They have no shame.
Aldo
Those clowns are in total denial to everything that's happened in the last 10 years....not just charities etc!

[Aldo]

Aldo Those clowns are in total denial to everything that's happened in the last 10 years....not just charities etc!

Aye yur right... Silly me.

[Crazyhorse]

No.

If the CVA is completed, FOH will own the shares in the company.

It is the company that will own the PBS.

So UBIG (50%) or whoever can buy their shares, the woman with shares in Switzerland (15%?), and FOH will all own the company which will own the PBS after/if the CVA is agreed?

[CropleyWasGod]

So UBIG (50%) or whoever can buy their shares, the woman with shares in Switzerland (15%?), and FOH will all own the company which will own the PBS after/if the CVA is agreed?

FOH will own all the shares. That's what their offer is based on.

[SmashinGlass]

FOH will own all the shares. That's what their offer is based on.

Taking out of the equation that the shares are frozen at present, I wonder how they propose to get their mitts on the missing 21% :confused:

[Ozyhibby]

Taking out of the equation that the shares are frozen at present, I wonder how they propose to get their mitts on the missing 21% :confused:

Where does it say the shares are frozen?

[CropleyWasGod]

Taking out of the equation that the shares are frozen at present, I wonder how they propose to get their mitts on the missing 21% :confused:

Fair point.

From memory, once 75% has been obtained, the holder can make an offer for the remaining 25%. (or maybe that's 90%?)

No matter... it would be interesting to see which shareholders voted today to approve the sale. ie whether the 21% were represented at all.

[Mikey]

Where does it say the shares are frozen?

Your question was answered on the PM board, albeit in the post just before yours.

They're frozen. End of. FACT :greengrin

[CropleyWasGod]

Where does it say the shares are frozen?

In some file in a Lithuanian Court. :greengrin

[PapillonVert]

They have control of the company, which effectively means the assets.

Which are?

and follow-up q: I though UBIG was being liquidated or is in admin but anyway under legal measures and so (sorry for being obtuse) I am not clear why it would be worth buying the shares. Why would they not be seized to meet any claims?

[Ozyhibby]

Your question was answered on the PM board, albeit in the post just before yours.

They're frozen. End of. FACT :greengrin

Good. Some reassurance required.
Is it likely they will be unfrozen in time for FoH to take control?

[JeMeSouviens]

Which are?

and follow-up q: I though UBIG was being liquidated or is in admin but anyway under legal measures and so (sorry for being obtuse) I am not clear why it would be worth buying the shares. Why would they not be seized to meet any claims?

The assets are Tiny, the players' registrations, the brand (toxic as it is), the SFA & SPFL memberships. If they don't buy the shares they don't own Hearts! UBIG's and Ukio's liquidators both have the power to sell their assets to recover money for their creditors. They both have shareholdings in Hearts and (subject to freezing issues which I'm not convinced are in force any longer since UBIG's offishul move to liquidation) both have the power to sell them.

[CropleyWasGod]

Which are?

and follow-up q: I though UBIG was being liquidated or is in admin but anyway under legal measures and so (sorry for being obtuse) I am not clear why it would be worth buying the shares. Why would they not be seized to meet any claims?

The main assets of HMFC are its stadium, its playing squad, and its brand.

As for the UBIG situation. It is in admin, and one of its assets is its shareholding in HMFC. The administrator has a duty to realise that asset for as much as is possible, in order to maximise the return to its own shareholders. Hence why I think that they didn't reject the CVA, as the CVA route gives them a chance of some cash for those shares.

[Crazyhorse]

The main assets of HMFC are its stadium, its playing squad, and its brand.

As for the UBIG situation. It is in admin, and one of its assets is its shareholding in HMFC. The administrator has a duty to realise that asset for as much as is possible, in order to maximise the return to its own shareholders. Hence why I think that they didn't reject the CVA, as the CVA route gives them a chance of some cash for those shares.

That makes things a bit clearer for me. Seems like a coherent strategy. I suppose the risk for them is if they ask for too much the whole thing collapses and they get nothing.

[Ozyhibby]

The main assets of HMFC are its stadium, its playing squad, and its brand.

As for the UBIG situation. It is in admin, and one of its assets is its shareholding in HMFC. The administrator has a duty to realise that asset for as much as is possible, in order to maximise the return to its own shareholders. Hence why I think that they didn't reject the CVA, as the CVA route gives them a chance of some cash for those shares.

I'm no longer buying this 'administrator has a duty to do his best by the creditors' as it does not happen in real life.

[CropleyWasGod]

That makes things a bit clearer for me. Seems like a coherent strategy. I suppose the risk for them is if they ask for too much the whole thing collapses and they get nothing.

They would get nothing in a liquidation anyway.

[CropleyWasGod]

I'm no longer buying this 'administrator has a duty to do his best by the creditors' as it does not happen in real life.

In UK law, that is not the primary duty of an administrator.

In Lithuanian law, an administrator is akin to our liquidator. In other words, it is their primary duty.

[CropleyWasGod]

The assets are Tiny, the players' registrations, the brand (toxic as it is), the SFA & SPFL memberships. If they don't buy the shares they don't own Hearts! UBIG's and Ukio's liquidators both have the power to sell their assets to recover money for their creditors. They both have shareholdings in Hearts and (subject to freezing issues which I'm not convinced are in force any longer since UBIG's offishul move to liquidation) both have the power to sell them.

I don't think that is relevant.

It's a Court-based process.

[Pete]

Can we stop all this "yam" stuff and start calling them by their real name please.

The cheats.

[RIP Bestie]

Fair point.

From memory, once 75% has been obtained, the holder can make an offer for the remaining 25%. (or maybe that's 90%?)

No matter... it would be interesting to see which shareholders voted today to approve the sale. ie whether the 21% were represented at all.
CWG I'm confused. Have they done a Houdini act and got away with this with nothing more than a 15 point penalty? I know that could mean relegation and a struggle to come straight back up, but is that the extent of what's going to happen to them? Can they sign out of contract over 21 year old players come February? Or is there a chance this could all still crumble around their ears?

[Aldo]

Can we stop all this "yam" stuff and start calling them by their real name please. The cheats.

Ha ha. Post of the day for me.

Top Marks!!

[Gus Fring]

CWG I'm confused. Have they done a Houdini act and got away with this with nothing more than a 15 point penalty? I know that could mean relegation and a struggle to come straight back up, but is that the extent of what's going to happen to them? Can they sign out of contract over 21 year old players come February? Or is there a chance this could all still crumble around their ears?

The transfer embargo is in place until the 1st of February regardless of when they leave admin. If they are still in admin after February 1st (which BDO have confirmed is very likely to be the case) then the embargo will continue until such times as a court confirms they are no longer in administration.

[CropleyWasGod]

CWG I'm confused. Have they done a Houdini act and got away with this with nothing more than a 15 point penalty? I know that could mean relegation and a struggle to come straight back up, but is that the extent of what's going to happen to them? Can they sign out of contract over 21 year old players come February? Or is there a chance this could all still crumble around their ears?

In essence, there's not a lot that has changed after today. If the vote had gone the other way, yes, that would have been goodnight.

All that has happened of significance today is that UKIO have decided that they're happy with what is on offer. I have to say that that surprised me, but I am assuming that they have done their homework.

The ball is still, as it was anyway, in UBIG's court. They have some negotiating to do over how much they will accept for their shares. Shares that they can't actually sell yet.

The situation of signing players hasn't changed at all. Hearts are still in administration, and look as if they will be so for some months yet.

[jacomo]

CWG I'm confused. Have they done a Houdini act and got away with this with nothing more than a 15 point penalty? I know that could mean relegation and a struggle to come straight back up, but is that the extent of what's going to happen to them? Can they sign out of contract over 21 year old players come February? Or is there a chance this could all still crumble around their ears?

They can't sign anyone until they come out of administration. BDO reckon that won't be til March or April, which if true means they really won't be signing anyone this season, unless there are any free agents happy to wait until then to get a deal.

[Leith Mo]

In view of today's events it is imperative that they are reminded of the true facts: aside from a lot of other things, the one that really winds them up is exactly what the banner says:

"LEST WE FORGET HMFC DID NOT PAY FOR THEIR POPPIES"

I have emailed Hibs again today asking for the Banner to come home as agreed in the Club's previous email to me. It shall fly with pride at the next Derby....a commodity those SC** know nothing of.

The Club with no Shame indeed

[GreenLake]

cva hearts

[bighairyfaeleith]

In view of today's events it is imperative that they are reminded of the true facts: aside from a lot of other things, the one that really winds them up is exactly what the banner says:

"LEST WE FORGET HMFC DID NOT PAY FOR THEIR POPPIES"

I have emailed Hibs again today asking for the Banner to come home as agreed in the Club's previous email to me. It shall fly with pride at the next Derby....a commodity those SC** know nothing of.

The Club with no Shame indeed

Why did the stewards take that down by the way?

Sent from my HUAWEI U8815 using Tapatalk 2

[Dashing Bob S]

It's all down to two elements now:

1. The Lithuanian authorities who have frozen the UBIG shares pending their investigations. Presumably these investigations relate to financial fraud across the Romanov empire. How extensive those investigations are, and when they will be concluded, is anybody's guess. However -and I might be wrong here- there is apparently a limitation on how long the government can freeze those shares? Assuming there are no more twists in the tale as unearthed by those investigations (and remember, that Hearts directors of this era were part of this group of companies and had money paid into and removed from these accounts by other companies) then:

2. The decision of the UBIG admins. It seems that they would vote for a CVA on the basis that 'something is better than nothing' but there may be some strategy to realize the full value of the Hearts assets (the PBS).

Hearts still face the race against time scenario - hoping that this business is concluded and that the CVA is in place and they exit admin before they run out off money.

THEN

They get to proceed with this totally unworkable business plan, devised and adminstered by clowns over morons with sky-high expectations.

[Leith Mo]

Why did the stewards take that down by the way?

Sent from my HUAWEI U8815 using Tapatalk 2

Email from CLub gave following reason for removal of banner:

"In the build up towards the game on Wednesday night we held a number of planning meetings internally and also with our partners, including Police Scotland.


The Club had become aware that our fans were intent on displaying banners at the game, some of which would likely relate to the current financial situation at Heart of Midlothian FC, whilst this in itself would not be a reason to exclude banners, we do have to make an assessment of the impact of any banner displayed and consider the likely negative impact.

Our Club has a very good relationship with Poppy Scotland and a decision was taken that any banners that bore the name or could link Poppy Scotland and the current situation at Heart of Midlothian FC would not be permitted to be displayed during this match, this is the reason that you were not permitted to put the banner up.

Whether you agree or disagree with this decision it was taken in the interests of the reputation of Poppy Scotland and our Club."

[PapillonVert]

The main assets of HMFC are its stadium, its playing squad, and its brand.

As for the UBIG situation. It is in admin, and one of its assets is its shareholding in HMFC. The administrator has a duty to realise that asset for as much as is possible, in order to maximise the return to its own shareholders. Hence why I think that they didn't reject the CVA, as the CVA route gives them a chance of some cash for those shares.

I am trying to unravel all this.

The stadium is subject to the security in favour of Ukio which they have now accepted a reduced sum for via the proposed CVA. I understand that the playing "assets" and the brand name will, in theory at least, also have a value, although probably nominal at best.

I am trying to think from the POV of a potential purchaser, however, and the old "what's in for me?" question keeps coming up as to why someone would want to buy the shares to get their mitts on these assets.

Even if they did get the stadium via purchasing the company, they would presumably have to realise more than the security's worth to get any money themselves? Am I right in thinking, therefore, that the CVA offer from the Fannies would fall if a 3rd party managed to purchase the shares?

That might make sense. So, someone offering even slightly more than the Fannies might end up with Tynie (although again Ukio would have to play ball and not insist on realising the full value of the security - which I believe is north of £6million or thereabouts).

Confused - not half! :greengrin

[Weststandwanab]

Fair point.

From memory, once 75% has been obtained, the holder can make an offer for the remaining 25%. (or maybe that's 90%?)

No matter... it would be interesting to see which shareholders voted today to approve the sale. ie whether the 21% were represented at all. 90%


In some file in a Lithuanian Court. :greengrinThey are indeed.


It's all down to two elements now:

1. The Lithuanian authorities who have frozen the UBIG shares pending their investigations. Presumably these investigations relate to financial fraud across the Romanov empire. How extensive those investigations are, and when they will be concluded, is anybody's guess. However -and I might be wrong here- there is apparently a limitation on how long the government can freeze those shares? Assuming there are no more twists in the tale as unearthed by those investigations (and remember, that Hearts directors of this era were part of this group of companies and had money paid into and removed from these accounts by other companies) then:

2. The decision of the UBIG admins. It seems that they would vote for a CVA on the basis that 'something is better than nothing' but there may be some strategy to realize the full value of the Hearts assets (the PBS).

Hearts still face the race against time scenario - hoping that this business is concluded and that the CVA is in place and they exit admin before they run out off money.

THEN

They get to proceed with this totally unworkable business plan, devised and adminstered by clowns over morons with sky-high expectations. Great Points.

[CropleyWasGod]

I am trying to unravel all this.

The stadium is subject to the security in favour of Ukio which they have now accepted a reduced sum for via the proposed CVA. I understand that the playing "assets" and the brand name will, in theory at least, also have a value, although probably nominal at best.

I am trying to think from the POV of a potential purchaser, however, and the old "what's in for me?" question keeps coming up as to why someone would want to buy the shares to get their mitts on these assets.

Even if they did get the stadium via purchasing the company, they would presumably have to realise more than the security's worth to get any money themselves? Am I right in thinking, therefore, that the CVA offer from the Fannies would fall if a 3rd party managed to purchase the shares?

That might make sense. So, someone offering even slightly more than the Fannies might end up with Tynie (although again Ukio would have to play ball and not insist on realising the full value of the security - which I believe is north of £6million or thereabouts).

Confused - not half! :greengrin

2 questions in there:-

1. if they buy the company, they have an asset (PBS) which they paid £2.5m for. In other words, if they want to make money by selling it, that's their minimum price.

2. I don't think that another bidder for the shares can be entertained at this stage.

[Pretty Boy]

Can we stop all this "yam" stuff and start calling them by their real name please.

The cheats.

They really don't like that.

Interestingly a lot of them crowing away about how the poppy money was paid so they didn't rip off any charities.

Can someone confirm when the £30K+ owed to the Big Hearts Foundation was paid? Thought not.

[green glory]

@BBCthomasmcg: .@JamTarts Hearts fans may be asked for funds before end of season, says administrator http://t.co/vqcKLqIP3O http://t.co/TYSWK6n8En

Softening them up for more piggy bank raiding.

History repeats itself.

[Pretty Boy]

@BBCthomasmcg: .@JamTarts Hearts fans may be asked for funds before end of season, says administrator http://t.co/vqcKLqIP3O http://t.co/TYSWK6n8En

Softening them up for more piggy bank raiding.

History repeats itself.

Another year with no Christmas or summer holiday for Jimmy and Jemima Jambos children. Shame.

Scaffs.

[Ozyhibby]

It's all down to two elements now:

1. The Lithuanian authorities who have frozen the UBIG shares pending their investigations. Presumably these investigations relate to financial fraud across the Romanov empire. How extensive those investigations are, and when they will be concluded, is anybody's guess. However -and I might be wrong here- there is apparently a limitation on how long the government can freeze those shares? Assuming there are no more twists in the tale as unearthed by those investigations (and remember, that Hearts directors of this era were part of this group of companies and had money paid into and removed from these accounts by other companies) then:

2. The decision of the UBIG admins. It seems that they would vote for a CVA on the basis that 'something is better than nothing' but there may be some strategy to realize the full value of the Hearts assets (the PBS).

Hearts still face the race against time scenario - hoping that this business is concluded and that the CVA is in place and they exit admin before they run out off money.

THEN

They get to proceed with this totally unworkable business plan, devised and adminstered by clowns over morons with sky-high expectations.

While I agree that they are going to struggle as they have no way of borrowing, significant costs maintaining their stadium and have not lived within their means for 30 years, I don't see what is fundamentally wrong with their business plan?
I also think they will get the shares from Ubig IF they become unfrozen.
Everything else I agree with.

[Waxy]

The timing of this is more likely designed to get the yams all warm and fuzzy for the November and early december paydays.
If you haven't given us yer dough then why not?
Yams are about to bring out the begging bowl of begging bowls i reckon.

[SmashinGlass]

@BBCthomasmcg: .@JamTarts Hearts fans may be asked for funds before end of season, says administrator http://t.co/vqcKLqIP3O http://t.co/TYSWK6n8En

Softening them up for more piggy bank raiding.

History repeats itself.

The admins should really be getting hauled over the coals here. If they need a further injection of funds, then they are not running the club using a viable business model. If they're running an admin whilst incurring what would be losses in any other line of business, trading would cease. It's sickening

[greenpaper55]

So they might be skint by the end of February , maybe they will have a share issue....?.

[down-the-slope]

Hearts: More cash from fans may be required, says administrator


Hearts may ask fans for more funds if the club runs out of money before the end of the season, according to administrator Bryan Jackson.

But Jackson needs to acquire the majority shareholding from UBIG, a process likely to take several months (http://www.bbc.co.uk/sport/0/football/25144366) , and only has funds to last until March.
"There's nowhere else for me to go if we run into difficulties," he said.
"We'll just have to take that as we go. The cash flow is fluent, it can change

[jgl07]

While I agree that they are going to struggle as they have no way of borrowing, significant costs maintaining their stadium and have not lived within their means for 30 years, I don't see what is fundamentally wrong with their business plan?

Does any other club operate on the assumption that supporters will pay both for season tickets and a monthly direct debit? It appears dodgy to me as a sustainable long-term business strategy.

The ticking time bomb for Hearts is the need to replace the old main stand. At some stage it will lose its safety certificate or at least be reduced significantly in capacity. Where will the cash come from for a replacement?

[Diclonius]

So how long before they're back to paying extortionate wages for players then?

I reckon June 2014. :agree:

[Dr Jimmy]

@BBCthomasmcg: .@JamTarts Hearts fans may be asked for funds before end of season, says administrator http://t.co/vqcKLqIP3O http://t.co/TYSWK6n8En

Softening them up for more piggy bank raiding.

History repeats itself.

I am surprised this is allowed/legal.
Surely BDO knew/had a good idea of how much money they had and were likely to get during the season.
Therefore they should know (+/- % fluctuation) how much they could spend to enable them to get the club through to the end of the season. Why did they not cut their cloth accordingly, instead of signing Wilson and keeping staffing levels and running costs at a level they clearly could not sustain without further (and not guaranteed!!) investment.
I may also add they are coming up short despite getting a bonus from the cup game with us and then Celtic!
BDO are in danger of making Duff & Phelps look professional.....!!!!!

[paul_hfc3]

A Jambo claims that it's in the Scotsman that quotes from the companies in the paper saying Lady Haig's claim even though they are listed a creditor, Hearts don't owe them money. Smell bull**** or is he correct?

[Spike Mandela]

In UK law, that is not the primary duty of an administrator.

In Lithuanian law, an administrator is akin to our liquidator. In other words, it is their primary duty.

Please oh please can we stop with these sham quotes CWG.

Their primary role is to make money for themselves which they seem rather good at.

Duff and Phelps and BDO have proved that any thought for getting the maximum return for creditors is just something they glibly give lip service to. Keeping the cheating companies as a going concern is clearly more profitable to them.

Ukio will be lucky to see half of the £2.5m once administrators fees and other things come off the CVA offer.

Ukio and Ubig's administrators will now be reaping every penny they can out of their administrations but the creditors, nevermind Hearts, will be the least of their worries just whatever makes them the most dosh out of this situation.

[joe breezy]

Please oh please can we stop with these sham quotes CWG.

Their primary role is to make money for themselves which they seem rather good at.

Duff and Phelps and BDO have proved that any thought for getting the maximum return for creditors is just something they glibly give lip service to. Keeping the cheating companies as a going concern is clearly more profitable to them.

Ukio will be lucky to see half of the £2.5m once administrators fees and other things come off the CVA offer.

Ukio and Ubig's administrators will now be reaping every penny they can out of their administrations but the creditors, nevermind Hearts, will be the least of their worries just whatever makes them the most dosh out of this situation.

Accountants / insolvency people = cowboys, the lot of them :cb

[jacomo]

A Jambo claims that it's in the Scotsman that quotes from the companies in the paper saying Lady Haig's claim even though they are listed a creditor, Hearts don't owe them money. Smell bull**** or is he correct?

Oh do keep up. :wink:

HMFC went into admin owing money for poppies.

Someone else then settled that particular debt, so poppy people are no longer out of pocket.

So it's true... Hearts don't owe them any money. But only because someone else was so embarrassed by this that they paid it instead of the club.

[SurferRosa]

Does any other club operate on the assumption that supporters will pay both for season tickets and a monthly direct debit? It appears dodgy to me as a sustainable long-term business strategy.

The ticking time bomb for Hearts is the need to replace the old main stand. At some stage it will lose its safety certificate or at least be reduced significantly in capacity. Where will the cash come from for a replacement?

Let`s wait and see how long it takes before FoH put the stadium and land up for sale with the prospect of full planning permission and no mention of blast zones or listed buildings. A 'community' stadium is then built in the West of Embra with Hearts putting up a good bit of the money due to the sale of their ground.

IF the FoH had got their hands on the Hearts 'brand' but not the stadium, i`d have said they would struggle and would find recovery very difficult. IMO, the fact they have secured their stadium is what will secure their future.

[davy malcolm]

It was tom farmer that paid that

Sent from my HTC One X+ using Tapatalk

[NadeAteMyLunch!]

Hearts debt

2 Sports Marketing Ltd £5,153
A1 Minibus & Coaches £100
ADT Fire£1,033
Ayr United FC£1,750
Arnold Clark Finance£6,764
Allan Dick£50
Alasdair Fraser£528
Ardue House Hotel£180
AllStar Business Solutions£100
Alexander Szaorari£9,100
AB Ukio Bankas£15,488,290
Baltic Clipper£497
Bank of Scotland (Merchant Services)£100
Bank of Scotland (Equipment Finance)£970
Beswicks Sports Ltd£3,000
BOC Gases£490
British Red Cross£76
BT£3,024
British Gas£580
BIG Hearts Community Trust£589
Bruce Rae Property Management£34,048
Business Line UAB£204,143
Cable & Wireless£2,198
James Calcer£1,411
Cameron Presentations£5,406
Campbell Medical Supplies£100
Janette Campbell£100
Cardiac Services£152
Charlie Irons Coaches£100
Chamic£100
Childcare Vouchers£100
B Ciocco£11,469
Citroen£5,232
Clearwater Technology£5,156
Clouds£6,870
Coerver Coaching Scotland£949
Concept Group£841
Copymade Ltd£100
Corona Energy Retail£29,729
The Insolvency Service£0
DJ Alexander£6,323
David Cameron£110
Miss Amal Daher£120
Dataserve UK£160
DC Lighting Services£652
DJB Fire & Safety Training£48
Outfield Harrison£1,816
Daisy Communications£1,474
Ensco 165 £509,464
Eamonn Collins£5,000
Edinburgh Chamber of Commerce£674
Elite Medicale£222
Ermington Associates£100
Egkijius Valiauga£863
Fife Imaging Associates£903
Fountain Court Apartments£100
Football Safety Officers£230
GF Capital Solutions£337
John Gibson£2,520
Glenham Property£100
Graeme Rankin Sports Mgmt.£12,000
Green Star Media£77
Greentech Sportsturf£1,056
G4S£12,057
GroupCall Ltd.£210
HM Revenue - VAT£0
HM Revenue£1,881,068
Hamilton & Brydie£144
Hectic Life£52
HBJ Gateley Wareing£100
Herriot Watt£145,655
Highlander Kilt Hire£430
Hitachi Capital£7
Holiday Inn Aberdeen£58
Homespring Ltd£499
Sven Housten£40
HoMFC Shareholder Association£5,030
Impact Signs£6,499
InterLax£234
Interface En£100
James Armstrong & Co£1,520
Johnston Carmichael£100
Jane Lofthouse Johnson£410
James Sandison£680
J Thomson Colour Printers£100
Kauno Futbolo£13,431
Key Sports Management£23,049
Korelita£52,610
KPMG Hungary£1,190
Lady Haigs Poppy Fund£185
Lietuvos Rytas£37
Livingston FC£282
Liverpool FC£46,625
Llyods TSB£17,165
Lex Autolease£1,159
Lochgreen Hotel£510
Lyco Direct Ltd.£1,822
Milson Capital Corp£1,223,989
Ian Maclennan£335
McCraes Battalion Trust£100
Dr Carrie McCrea£760
Tony McGill£19,625
Dr Scott McKie£700
McRae of Gorgie£560
Meridan Hospital£790
Dr Andrew Murray£250
Musselburgh Athletic FC£5,790
Michael Page International£100
NHS Lothian£75
NHS Fife £739
North Lanarkshire Council£100
Northgate Vechile Hire£100
Nuffield Health£4,645
OG Lawfirm£5,000
Orange£5,896
PHS Group£1,110
Pulsant Scotland£240
Paton Plant Ltd£3,290
Pendrich Height Services£6,552
Performing Right Society£13,995
Pitch International£4,746
PPL Sport & Leisure£1,325
PPL£4,133
Premier Sports£4,836
ProKit£100
ProAmica£34,899
Professor Ernest Schiders£2,410
Rapide Communication£176
Respublikos Investicija£62
Runos Vertimal£43
RWN Orthopaedics£100
Ryden Lettings£100
Rigby Taylor Ltd.£1,564
Robert Graeme Wilson£150
Spie Matthew£2,436
Spire Healthcare£3,118
Scottish Water£100
Steve Hutchison£3,430
Scottish Police Authority£18,585
Savills£20,602
Scottish Ambulance Services£2,454
Scomac Catering Equip.£100
Scottish Power (Stadium)£9,544
Scottish Power (Ticket Office)£5,467
Scottish Power (Admin Block)£1,254
Scottish Gas Business£347
Scrubbers Laundry£162
SDMS£411
Securevent Security£12,309
SFA£5,011
Shanks Waste Mgmt.£1,211
Scottish Hydro Electric£139
Jordan Shearer£90
Shred-it£457
Sky Business£100
Slaters£100
SNS Group£1,281
Spectator Seating£13,005
Speedy Power£100
Sportsmasters£1,648
Sporting ID£100
Sports Medicine Uraea AB£2,700
SRM Hearts£19,853
Scottish Power£100
St Andrews First Aid£364
Stenhousemuir FC£12,900
Stellar Football Ltd£5,750
Streamline Print Mgmt.£418
Superturas£26,636
Scottish Youth Football Assoc.£1,700
T.G Baker Sound£2,656
ThyssenKnapp Elevator£3,378
City of Edinburgh Council£90,715
City of Edinburgh Council (for flats)£2,631
The Edinburgh Clinic£557
Newspaper Licensing Agency£1,428
Talk Talk£5,548
The Rangers FC£1,410
Ticketmaster£33,112
TNT UK£8
TNT Post£56
Trichem£1,380
Technology Services Group£1,967
Turnstile Systems£810
UAB litcargus£1,166
UK Football Academy£228
Unum£2,300
UAB Ukio£8,151,497
Veecom Systems£3,525
Viola£290
Vodafone Connect£343
Wallace Brown/Langstane£956
Weatherseal£42
Western Saab£500
Dr David Whitaker£500
Scott Wilson£1,000
Yorkshire Clinic£2,562

NEVER LET THEM FORGET. THE TEAM WITH NO SHAME...

[greenpaper55]

Just been listening to Jackson and the fat MP, the fat one is still spinning the line of it's all over but Jackson is more realistic in his judgement stating that until they convince UBIG to part with the shares then the whole thing collapses. Now it may be that UBIg's shares are virtually worthless but that is not the point, if they are frozen due to legal challenges this adds up to a no yer not getting them to the cheats. They are also open to somebody playing the spite card just for the sake of it, if the cheats were part of the reason the UBIG shares are worthless why give the shares away for nowt ?, just a thought to keep the cheats awake at night !.

[brog]

I would just like to congratulate all associated with HMFC. Today, by your actions, your own charity, Big Hearts, was officially stiffed for £34,048.43. Well done, you must be very proud!

[paul_hfc3]

Oh do keep up. :wink:

HMFC went into admin owing money for poppies.

Someone else then settled that particular debt, so poppy people are no longer out of pocket.

So it's true... Hearts don't owe them any money. But only because someone else was so embarrassed by this that they paid it instead of the club.

Cheers mate!:thumbsup:
I know I know...sorry I was being lazy ha. Just wanted clarification rather than looking like an arse, all my mates are Jambos and its a difficult battle when your on your tod against 15 or so die hard Jambos. They've backed the "It was a glitch for the wages. Hearts official website said so."

[Ozyhibby]

Chat on Kickback is that FoH are now paying BDO's fees. Any confirmation?

[blindsummit]

I am surprised this is allowed/legal.
Surely BDO knew/had a good idea of how much money they had and were likely to get during the season.
Therefore they should know (+/- % fluctuation) how much they could spend to enable them to get the club through to the end of the season. Why did they not cut their cloth accordingly, instead of signing Wilson and keeping staffing levels and running costs at a level they clearly could not sustain without further (and not guaranteed!!) investment.
I may also add they are coming up short despite getting a bonus from the cup game with us and then Celtic!
BDO are in danger of making Duff & Phelps look professional.....!!!!!

Agreed. BDO's admission today that they will need more money is as frank an admission that they are CONTINUING to trade while insolvent as you can get. Something that is supposed to be verboten for Administrators! Once again, something stinks in the world of Football Admins.

BDO appear to have done a Duff & Phelps and "gone native". They are playing the role of Football Club owners and managers, instead of carrying out their statutory duties as administrators.

If they don't have the cash, then players should be getting released NOW! It should not matter to BDO if Hearts then have to play a bunch of 15 year old trialists, that's NOT THEIR CONCERN.

Honestly, I despair at the mockery of the law and morality that football has become.

I do hope that anyone supplying goods and services to Hearts is getting cash up front. And I wonder if the Police, HMRC, Edinburgh Council etc are getting stiffed again already??? Still, as long as the club survives eh, it's all good.

Reptiles.

[RIP Bestie]

In essence, there's not a lot that has changed after today. If the vote had gone the other way, yes, that would have been goodnight.

All that has happened of significance today is that UKIO have decided that they're happy with what is on offer. I have to say that that surprised me, but I am assuming that they have done their homework.

The ball is still, as it was anyway, in UBIG's court. They have some negotiating to do over how much they will accept for their shares. Shares that they can't actually sell yet.

The situation of signing players hasn't changed at all. Hearts are still in administration, and look as if they will be so for some months yet.
Thanks for this and all your other posts on this thread. They have been invaluable to my limited knowledge of this field and very much appreciated CWG

[brog]

I would just like to congratulate all associated with HMFC. Today, by your actions, your own charity, Big Hearts, was officially stiffed for £34,048.43. Well done, you must be very proud!

Following up on my own post! IIRC when oldco sank, various supporters' clubs made payments to small creditors who had received nothing in the liquidation. I remember a lady who had arranged face painting & possibly a florist getting paid. I guess I must have missed all the positive stories re the Yams fans doing something similar. Its a sad day when they can't even reach the moral heights of their big cousins!

[steakbake]

If we're saying that the LTs have been put under some emotional pressure, then this move: where the frozen shares must be bought - passes some of that weight elsewhere.

[CropleyWasGod]

Agreed. BDO's admission today that they will need more money is as frank an admission that they are CONTINUING to trade while insolvent as you can get. Something that is supposed to be verboten for Administrators! Once again, something stinks in the world of Football Admins.

BDO appear to have done a Duff & Phelps and "gone native". They are playing the role of Football Club owners and managers, instead of carrying out their statutory duties as administrators.

If they don't have the cash, then players should be getting released NOW! It should not matter to BDO if Hearts then have to play a bunch of 15 year old trialists, that's NOT THEIR CONCERN.

Honestly, I despair at the mockery of the law and morality that football has become.

I do hope that anyone supplying goods and services to Hearts is getting cash up front. And I wonder if the Police, HMRC, Edinburgh Council etc are getting stiffed again already??? Still, as long as the club survives eh, it's all good.

Reptiles.

TBF to Bryan Jackson, he didn't say that they will need more money. He said that, if they start to run out of money in March/April, they will need to go back to the fans. The administration is not insolvent yet. Were they, there could be only one way to go.

They may yet assess the situation in the light of the UBIG issues and decide to cut staff in order to ease the pressure. He said in the interview that the cash flow is fluid... that they have had some unexpected income, but that there could be some negative situations as well.

[Aldo]

Chat on Kickback is that FoH are now paying BDO's fees. Any confirmation?

Holy *****... They are making it up as they go along.

[brog]

Chat on Kickback is that FoH are now paying BDO's fees. Any confirmation?

No. F of H will not pay BDO. In their statement of July 19 they ( BDO ) said it is not our intention to draw a fee until it has been agreed with the secured creditor ( ie the administrators of ABUB ).
Assuming ABUB is UKIO they may now be looking to get their fee but it comes out of the £2.5m paid, which makes UKIO's acceptance even more baffling.

[HIBERNIAN-0762]

Infuriating listening to that turd Murray say two massive hurdles have been cleared :confused:

Really? what a crock of Tom Tit!

[Jim44]

It wasn't a surprise really, there's still a long way to go before they're out of trouble, don't get frustrated- just sit back and enjoy what's to come.


Agreed. BDO's admission today that they will need more money is as frank an admission that they are CONTINUING to trade while insolvent as you can get. Something that is supposed to be verboten for Administrators! Once again, something stinks in the world of Football Admins.

BDO appear to have done a Duff & Phelps and "gone native". They are playing the role of Football Club owners and managers, instead of carrying out their statutory duties as administrators.

If they don't have the cash, then players should be getting released NOW! It should not matter to BDO if Hearts then have to play a bunch of 15 year old trialists, that's NOT THEIR CONCERN.

Honestly, I despair at the mockery of the law and morality that football has become.

I do hope that anyone supplying goods and services to Hearts is getting cash up front. And I wonder if the Police, HMRC, Edinburgh Council etc are getting stiffed again already??? Still, as long as the club survives eh, it's all good.

Reptiles.

On your last point, I couldn't give a toss if the idiots who have already been shafted by the thieves have gone back for more punishment. They deserve to lose more for their stupidity. For CVA read licence to steal legally.

[brog]

Hearts: More cash from fans may be required, says administrator


Hearts may ask fans for more funds if the club runs out of money before the end of the season, according to administrator Bryan Jackson.

But Jackson needs to acquire the majority shareholding from UBIG, a process likely to take several months (http://www.bbc.co.uk/sport/0/football/25144366) , and only has funds to last until March.
"There's nowhere else for me to go if we run into difficulties," he said.
"We'll just have to take that as we go. The cash flow is fluent, it can change

Fluent in what? Presumably double Dutch & double dealing!! I guess this is a BBC error rather than a Freudian slip from the undertaker!

[PapillonVert]

Chat on Kickback is that FoH are now paying BDO's fees. Any confirmation?

Maybe BDO are getting to squeaky bum time whereby they are putting in the hours to try and salvage something and the outstanding bill is so high that they need something going towards it to ensure that they don't end up massively out of pocket?

If what they're saying on KB is correct, I guess that that might be the reason. BDO fed up of putting in the time and effort and want to see some cash now before they incur more fees.

However, someone needs to remind me of the basis on which FoH is holding the money - wasn't it on the basis that it wouldn't be touched until the CVA was agreed?

Conditional CVA doesn't meet that condition IMO.

[CropleyWasGod]

Fluent in what? Presumably double Dutch & double dealing!! I guess this is a BBC error rather than a Freudian slip from the undertaker!

I heard it as "fluid".

Like slime.

[Pretty Boy]

Following up on my own post! IIRC when oldco sank, various supporters' clubs made payments to small creditors who had received nothing in the liquidation. I remember a lady who had arranged face painting & possibly a florist getting paid. I guess I must have missed all the positive stories re the Yams fans doing something similar. Its a sad day when they can't even reach the moral heights of their big cousins!

Yep. When the moral heights of Rangers are something to aspire to you know you have problems.

[Aldo]

Quality from a roaster over the road

buzzbomb
Today, 15:26
Does Ian Murray remind anyone else of Robbo.. ?Mannerisms, speech etc

Answers on a postcard please ladies and gents!!

[Mellow Hibee]

No. F of H will not pay BDO. In their statement of July 19 they ( BDO ) said it is not our intention to draw a fee until it has been agreed with the secured creditor ( ie the administrators of ABUB ).
Assuming ABUB is UKIO they may now be looking to get their fee but it comes out of the £2.5m paid, which makes UKIO's acceptance even more baffling.

It sounds like it has been put into the CVA agreement as a clause, which makes sense from the UKIO perspective.

Perhaps the fees are expected to be around £500,000 if all goes well. UKIO wanted around £3M but agreed to take £2.5 with FOH paying the fees so if it goes on and on they still end up with £2.5M.

It makes their acceptance of £2.5M a bit more realistic.

[Gus Fring]

"[Hearts Fans] know the right thing to do cancel Christmas for your kids, give the money to me" - Bryan Jackson

Also note at the start of that video he confirms there is no Plan B and that UBIG's shares aren't guaranteed.

if anyone still doubts my info, or anyone else when they say this is far from over, give that video a watch and tell that if you were a Hearts fan you wouldn't stick the champagne back in the fridge for the time being.

This is far from over no matter how much Hearts fans think it is.


http://www.bbc.co.uk/sport/0/football/25156354

[Ozyhibby]

No. F of H will not pay BDO. In their statement of July 19 they ( BDO ) said it is not our intention to draw a fee until it has been agreed with the secured creditor ( ie the administrators of ABUB ).
Assuming ABUB is UKIO they may now be looking to get their fee but it comes out of the £2.5m paid, which makes UKIO's acceptance even more baffling.

They are saying it was one of the conditions they had to agree to last night to push things through?

[HoboHarry]

TBF to Bryan Jackson, he didn't say that they will need more money. He said that, if they start to run out of money in March/April, they will need to go back to the fans. The administration is not insolvent yet. Were they, there could be only one way to go.

They may yet assess the situation in the light of the UBIG issues and decide to cut staff in order to ease the pressure. He said in the interview that the cash flow is fluid... that they have had some unexpected income, but that there could be some negative situations as well.
That's not what I heard him saying. I interpreted his comments as being that there could be minuses - such as the DD's dropping off. With Christmas coming up that's a certainty both before and after. I imaging their budget planning includes all the DD's as they currently stand.

[Gus Fring]

That's not what I heard him saying. I interpreted his comments as being that there could be minuses - such as the DD's dropping off. With Christmas coming up that's a certainty both before and after. I imaging their budget planning includes all the DD's as they currently stand.

The direct debits are not currently being used to finance Hearts and they will never be at Bryan Jackson's disposal. They are only to be used when FOH have control.

[HoboHarry]

The direct debits are not currently being used to finance Hearts and they will never be at Bryan Jackson's disposal. They are only to be used when FOH have control.
Ah ok, fair enough....

[PapillonVert]

"[Hearts Fans] know the right thing to do cancel Christmas for your kids, give the money to me" - Bryan Jackson

Also note at the start of that video he confirms there is no Plan B and that UBIG's shares aren't guaranteed.

if anyone still doubts my info, or anyone else when they say this is far from over, give that video a watch and tell that if you were a Hearts fan you wouldn't stick the champagne back in the fridge for the time being.

This is far from over no matter how much Hearts fans think it is.


http://www.bbc.co.uk/sport/0/football/25156354


Interesting, Mr. B.

I have been intrigued all along by the attitude of the UBIG side. Leaving aside whatever dastardly and nefarious scandals and schemes might be uncovered by the investigations going on there, are we right to assume that an estimate of February 2014 for the resolution of all the issues surrounding UBIG, not least the frozen shares, might be more than merely wildly optimistic? And that BDO know this?

Hence the suggestion that the fans might have to be prepared to stump up even more cash in March next year in order to keep the circus limping on? Preparing the ground for the inevitable?

[Mikey]

This is far from over no matter how much Hearts fans think it is.




Correct. It's not going to take much of a delay for them to find themselves still in Administration in July and starting their Championship campaign on -15 points.

The one big decision that's still to be made is in the hands of the Lithuanian government. If they choose to keep the shares frozen while investigations continue then there's no resolution.

[Mellow Hibee]

Correct. It's not going to take much of a delay for them to find themselves still in Administration in July and starting their Championship campaign on -15 points.

The one big decision that's still to be made is in the hands of the Lithuanian government. If they choose to keep the shares frozen while investigations continue then there's no resolution.

I'm not doubting this, but the only place I've ever heard it mentioned is on here. The news today appears to be that UBIG have conditionally agreed to transfer the shares subject to a creditors meeting. BDO haven't mentioned the need to unfreeze shares and none of the papers that I've seen have mentioned it. Is there any link for this?

[Mikey]

I'm not doubting this, but the only place I've ever heard it mentioned is on here. The news today appears to be that UBIG have conditionally agreed to transfer the shares subject to a creditors meeting. BDO haven't mentioned the need to unfreeze shares and none of the papers that I've seen have mentioned it. Is there any link for this?

Link for what? To say that the shares are frozen?

[Mellow Hibee]

Link for what? To say that the shares are frozen?

Yeah, I've never seen anything about it.

[Mikey]

Yeah, I've never seen anything about it.

http://www.bloomberg.com/news/2013-04-12/hearts-sale-plan-derailed-as-lithuania-freezes-romanov-s-assets.html

[Mellow Hibee]

http://www.bloomberg.com/news/2013-04-12/hearts-sale-plan-derailed-as-lithuania-freezes-romanov-s-assets.html

Cheers Mikey. That's pretty unambiguous and from a good source. Surprised that more yams aren't asking for answers.

:aok:

[Aldo]

Quite a few yams are of the opinion the shares were 'unfrozen' as soon as Administrators were appointed.

How wrong. Someone should post a link on Brokeback and watch the reaction.

[Mikey]

Cheers Mikey. That's pretty unambiguous and from a good source. Surprised that more yams aren't asking for answers.

:aok:

Tell the truth. You're not really, are you :greengrin

[Mellow Hibee]

Tell the truth. You're not really, are you :greengrin

:greengrin

Thought that the second I posted!

[PapillonVert]

Chat on Kickback is that FoH are now paying BDO's fees. Any confirmation?

I have just been watching the Bryan Jackson interview on the BBC. Now, something potentially interesting about his body language has occurred to me.

If you notice, he appears very uncomfortable in what he is saying, in particular when he is not speaking he is continually swallowing heavily.

If there are any psychologists out there and people who can read body language, I wonder what their assessment of this is. I once read that a sign of someone not quite telling the truth is that they start swallowing quite heavily as they know that what they are saying is not true and their body language is giving away their discomfort at what they are saying.

I am not saying anything, just that that man did not appear comfortable in that interview. Could be, of course, that he is just a very nervous type.

[WindyMiller]

Fluent in what? Presumably double Dutch & double dealing!! I guess this is a BBC error rather than a Freudian slip from the undertaker!


Maybe a typo, meant to say effluent.

[Aldo]

I have just been watching the Bryan Jackson interview on the BBC. Now, something potentially interesting about his body language has occurred to me. If you notice, he appears very uncomfortable in what he is saying, in particular when he is not speaking he is continually swallowing heavily. If there are any psychologists out there and people who can read body language, I wonder what their assessment of this is. I once read that a sign of someone not quite telling the truth is that they start swallowing quite heavily as they know that what they are saying is not true and their body language is giving away their discomfort at what they are saying. I am not saying anything, just that that man did not appear comfortable in that interview. Could be, of course, that he is just a very nervous type.

Well well. Seconds after you posted this it appeared on Brokeback courtesy of Scott_Jambo.

Enjoy looking in. The club with no shame!

[Jack]

I have just been watching the Bryan Jackson interview on the BBC. Now, something potentially interesting about his body language has occurred to me.

If you notice, he appears very uncomfortable in what he is saying, in particular when he is not speaking he is continually swallowing heavily.

If there are any psychologists out there and people who can read body language, I wonder what their assessment of this is. I once read that a sign of someone not quite telling the truth is that they start swallowing quite heavily as they know that what they are saying is not true and their body language is giving away their discomfort at what they are saying.

I am not saying anything, just that that man did not appear comfortable in that interview. Could be, of course, that he is just a very nervous type.

Its not really possible to analyse body language from a 30 second clip. A lot of the observing would need to be done before the cameras rolled, or went live, and looking for differences.

I've been swallowing quite a bit this afternoon as a result of eating a side of smoked salmon for lunch, I know shear greed, but I'm as thirsty as hell. I'm lying, lying down for a wee nap lol.

[Craig_in_Prague]

I have just been watching the Bryan Jackson interview on the BBC. Now, something potentially interesting about his body language has occurred to me.

If you notice, he appears very uncomfortable in what he is saying, in particular when he is not speaking he is continually swallowing heavily.

If there are any psychologists out there and people who can read body language, I wonder what their assessment of this is. I once read that a sign of someone not quite telling the truth is that they start swallowing quite heavily as they know that what they are saying is not true and their body language is giving away their discomfort at what they are saying.

I am not saying anything, just that that man did not appear comfortable in that interview. Could be, of course, that he is just a very nervous type.

Choking on a pint?

See what you mean though and glad I seen that, still cash flow concerns and ultimately the shares from Ubig, not sure the yams are safe yet.

[CropleyWasGod]

I have just been watching the Bryan Jackson interview on the BBC. Now, something potentially interesting about his body language has occurred to me.

If you notice, he appears very uncomfortable in what he is saying, in particular when he is not speaking he is continually swallowing heavily.

If there are any psychologists out there and people who can read body language, I wonder what their assessment of this is. I once read that a sign of someone not quite telling the truth is that they start swallowing quite heavily as they know that what they are saying is not true and their body language is giving away their discomfort at what they are saying.

I am not saying anything, just that that man did not appear comfortable in that interview. Could be, of course, that he is just a very nervous type.

I used to work with BJ, albeit many years go. I also got the feeling that he was nervous and, no, he doesn't strike me as the nervous type.

He hinted that the UBIG shares are a stumbling block. IMO, the reason he doesn't say that their freezing might scupper the whole deal is PR.

It needs someone in the media to ask the question directly. :rolleyes:

[blindsummit]

TBF to Bryan Jackson, he didn't say that they will need more money. He said that, if they start to run out of money in March/April, they will need to go back to the fans. The administration is not insolvent yet. Were they, there could be only one way to go.

They may yet assess the situation in the light of the UBIG issues and decide to cut staff in order to ease the pressure. He said in the interview that the cash flow is fluid... that they have had some unexpected income, but that there could be some negative situations as well.

CWG, I have the greatest respect for you and your excellent summations and commentary. I'm just so awash with cynicism now when it comes to Footbal Clubs and Administration, that I'm afraid I automatically assume the worst. The whole Sevco debacle was a real eye opener, and I'm afraid nothing that is happening with Hearts has convinced me that the system does anything to protect creditors, and in particular taxpayers.

[CropleyWasGod]

CWG, I have the greatest respect for you and your excellent summations and commentary. I'm just so awash with cynicism now when it comes to Footbal Clubs and Administration, that I'm afraid I automatically assume the worst. The whole Sevco debacle was a real eye opener, and I'm afraid nothing that is happening with Hearts has convinced me that the system does anything to protect creditors, and in particular taxpayers.

The "system" is nowhere near perfect, of course it isn't. However, it's only when someone has been stiffed in an insolvency or, as in this case, it's in the public eye (and the taxpayer has been stiffed, that the apparent unfairness of it becomes an issue.

It's an area that has been tinkered with, and overhauled, many times over the years. Better minds than mine have struggled with improving things, and failed. For the moment, IMO, it's probably as good as we can get..... without going down the road of banning credit or (opening a can of worms here) discouraging "enterprise".

In the particular business of football, the Financial Fair Play Rules are trying to address things, but in Hearts and Rangers cases they are too late.

The floor is open.....

[jonny]

"[Hearts Fans] know the right thing to do cancel Christmas for your kids, give the money to me" - Bryan Jackson

Also note at the start of that video he confirms there is no Plan B and that UBIG's shares aren't guaranteed.

if anyone still doubts my info, or anyone else when they say this is far from over, give that video a watch and tell that if you were a Hearts fan you wouldn't stick the champagne back in the fridge for the time being.

This is far from over no matter how much Hearts fans think it is.


http://www.bbc.co.uk/sport/0/football/25156354

I don't pretend to know too much about the whole situation but after having a read of this article I think they are in real trouble. The CVA thing is nothing more than a PR trick to keep the morale of the fans up so they can squeeze more cash out of them. It says they dont have enough money to get into March... Will we see another fire sale in January? The supporters (who in fairness have pulled together and put a lot of money into the black hole to keep it going this long) can only give so much, these are working guys and girls and it's now a time of year when folk are traditionally skint trying to give their families what they can at Christmas.
I'm in the camp that would prefer they didnt disappear completely but I really cant see any other outcome.

[brog]

I have just been watching the Bryan Jackson interview on the BBC. Now, something potentially interesting about his body language has occurred to me.

If you notice, he appears very uncomfortable in what he is saying, in particular when he is not speaking he is continually swallowing heavily.

If there are any psychologists out there and people who can read body language, I wonder what their assessment of this is. I once read that a sign of someone not quite telling the truth is that they start swallowing quite heavily as they know that what they are saying is not true and their body language is giving away their discomfort at what they are saying.

I am not saying anything, just that that man did not appear comfortable in that interview. Could be, of course, that he is just a very nervous type.

TBF to him he became more relaxed the further it went. At the beginning he looked like Nixon saying "there will be no whitewash in the White House"! I think once he was able to actually start telling the truth re the situation he became more confident though I'm not sure the Yams will find his "jokes" re Xmas that funny. Oh & he did say "fluent", maybe an illustration of how nervous he was.

[thebakerboy]

Just had a roaster on my FB saying what a great day for Hearts , but pointed out to him that Bryan Jackson just asked them on the BBC to cancel Christmas and give him the money to keep them going (wearing a Hearts tie I think) till after February. I have always been under the idea that the administrator is supposed to protect the creditors and not the debtors but it seems (as with oldco/newco/sevco) this does not apply in football. By the way he has replied that FOH will take control and with no debt will have enough money to see them till the end of the season . They do live in cloud cuckoo land.

[clerriehibs]

I don't pretend to know too much about the whole situation but after having a read of this article I think they are in real trouble. The CVA thing is nothing more than a PR trick to keep the morale of the fans up so they can squeeze more cash out of them. It says they dont have enough money to get into March... Will we see another fire sale in January? The supporters (who in fairness have pulled together and put a lot of money into the black hole to keep it going this long) can only give so much, these are working guys and girls and it's now a time of year when folk are traditionally skint trying to give their families what they can at Christmas.
I'm in the camp that would prefer they didnt disappear completely but I really cant see any other outcome.


That doesn't make sense though.

An administrator tries to balance between the best deal for creditors and keeping the company going if at all possible.

An administrator doesn't squeeze as much money as he can out of customers just to keep the money pouring into a 3rd party with the expectation that the company in admin is going to fold anyway. In that scenario, he sees nothing from the 3rd party, so why bother? Unless the administrator isn't on a fixed cost contract,, of course, and then I can see why he'd want to keep it going as long as possible (although probably not 'professional' behaviour).

[Skol]

I am genuinely confused.

CVA agreed in principle which is great and wipes off a large chunk of debt and delivers 30% of shares - after cooling off

UBIG shares of 50% not delivered and presumably UBIG can demand more cash for these. What if they dont roll over and demand a sizeable sum. Are FOH happy to hand over the cash for a minority shareholding ?

What about the 15% held by Vlads niece/daughter or whoever she is. At present Hearts can only count on 35% shares max (Ukio plus those that didnt sell out to VLAD) and Jackson didnt sound all that positive about securing the 50% and spoke of needing more funding post March which indicates he doesnt think things are done and dusted.

We seem to be seeing all these problems to be overcome while hearts fans are rejoicing

[Jonnyboy]

I have just been watching the Bryan Jackson interview on the BBC. Now, something potentially interesting about his body language has occurred to me.

If you notice, he appears very uncomfortable in what he is saying, in particular when he is not speaking he is continually swallowing heavily.

If there are any psychologists out there and people who can read body language, I wonder what their assessment of this is. I once read that a sign of someone not quite telling the truth is that they start swallowing quite heavily as they know that what they are saying is not true and their body language is giving away their discomfort at what they are saying.

I am not saying anything, just that that man did not appear comfortable in that interview. Could be, of course, that he is just a very nervous type.

Well spotted J. The part I found particularly interesting, though it was on the STV news at six, was when he laughed and said something like "folk are getting ahead of themselves, they're even talking about new signings" The laugh gives an insight into what he thinks of that particular nonsense :agree:

[Weststandwanab]

Accountants / insolvency people = cowboys, the lot of them :cb Do you know a good solicitor ?


Let`s wait and see how long it takes before FoH put the stadium and land up for sale with the prospect of full planning permission and no mention of blast zones or listed buildings. A 'community' stadium is then built in the West of Embra with Hearts putting up a good bit of the money due to the sale of their ground.

IF the FoH had got their hands on the Hearts 'brand' but not the stadium, i`d have said they would struggle and would find recovery very difficult. IMO, the fact they have secured their stadium is what will secure their future. I disagree in the sense that if the secure the stadium I think that is what will bring them down as they will not be able to maintain it without the annual great Jambo bake off !"


"[Hearts Fans] know the right thing to do cancel Christmas for your kids, give the money to me" - Bryan Jackson

Also note at the start of that video he confirms there is no Plan B and that UBIG's shares aren't guaranteed.

if anyone still doubts my info, or anyone else when they say this is far from over, give that video a watch and tell that if you were a Hearts fan you wouldn't stick the champagne back in the fridge for the time being.

This is far from over no matter how much Hearts fans think it is.


http://www.bbc.co.uk/sport/0/football/25156354 I quite agree only the start of the end game.

[Bostonhibby]

Well spotted J. The part I found particularly interesting, though it was on the STV news at six, was when he laughed and said something like "folk are getting ahead of themselves, they're even talking about new signings" The laugh gives an insight into what he thinks of that particular nonsense :agree:

Difficult one to sum up, looked very shifty I agree, if I were some form of yam front man here, all I could reasonably think of to say is "ALLISBARRY" buy more shares as soon as we offer them and as soon you work out how to open the piggy bank/your wifes' or carers purse.

Truth be told the last thing you want on an exit administration or not arrangement is something in between - i.e a conditional CVA, that just tells me that it would have been better to do nothing in the first place.

Frozen shares - they are the future, for the foreseeable future. Let the yam rejoice for the time being. Turkeys heading towards xmas :greengrin

[Waxy]

William hill currently have Hearts at 1/7 to finish bottom.
Only a minor miracle will keep them up, relegation seems a certainty.Unlikely they'll come straight back up and could spend a number of years in the championship.
If the FOH gets the club they'll be run from a biscuit tin and will have no choice but to sell tynecastle and use the money towards a ground elsewhere.
Watch how the FOH and Hearts fans start upping the value of the land when it's time to sell.right now it's "worth nothing and no one can build on it",in a few year it'll change to of course you can build houses, they built a school there ffs, it's worth millions"

Ach.Going down.

[leggeto]

so how much of the debt have they wiped off then

[PapillonVert]

Well well. Seconds after you posted this it appeared on Brokeback courtesy of Scott_Jambo.

Enjoy looking in. The club with no shame!


Thought he was our Sergey? Outed after 13,000 posts or something Or is that another Scott Jambo?

I can't keep up! Honestly.

[CB_NO3]

As I said about 5 hours ago, nothing has changed from 2 weeks ago. We knew the Ukio admin team were accepting the CVA. That was in black and white. The UBIG shares are the problem, but in all honestly I think the FOH will get them for a few hundred grand. Thats just my opinion though.

[PapillonVert]

Well spotted J. The part I found particularly interesting, though it was on the STV news at six, was when he laughed and said something like "folk are getting ahead of themselves, they're even talking about new signings" The laugh gives an insight into what he thinks of that particular nonsense :agree:

Maybe we need to look at his earlier interviews and see if the same body language is apparent.

He just seemed a bit uncomfortable to me in that interview.

[Gus Fring]

Text from my source

"Tense atmosphere this morning. Nobody is saying much. There's no smiles and no impression of confidence"

From me this morning. Maybe there's something in this. I'm curious why, if there's money to last until March, BJ is asking for fans to cancel their kids Xmas again? I was also told money was getting tight last week.

Theres more to this than he's letting on, I'm sure of it.

[Dashing Bob S]

From me this morning. Maybe there's something in this. I'm curious why, if there's money to last until March, BJ is asking for fans to cancel their kids Xmas again? I was also told money was getting tight last week.

Theres more to this than he's letting on, I'm sure of it.

Jackson singled out the cup ties with Hibs and Celtic as unexpected revenue boosters and has more than hinted that they need more of the same in order to get to the point in time where they expect UBIG to be in the position to make a decision.

With that in mind, the two biggest games in the history of Hearts could be the forthcoming cup games against Celtic and ICT. To get that extra little tickle of cash he's suggested might need to get through this period, progress in one or both competitions would seem to be essential.

C'MON THE TIC AND THE CALEY JAGS!!

[EK_Hibs]

From me this morning. Maybe there's something in this. I'm curious why, if there's money to last until March, BJ is asking for fans to cancel their kids Xmas again? I was also told money was getting tight last week.

Theres more to this than he's letting on, I'm sure of it.

I thought the 'kids Christmas' comment was merely tongue in cheek, nothing more.

The ****bos will be coming out of administration in February or March at the latest which is disappointing, But on a brighter note they will definitely be getting relegated this season. :)

[PapillonVert]

From me this morning. Maybe there's something in this. I'm curious why, if there's money to last until March, BJ is asking for fans to cancel their kids Xmas again? I was also told money was getting tight last week.

Theres more to this than he's letting on, I'm sure of it.

Look at that man's face during his interview today on the BBC, Bajillions, that man is nervous.

[jacomo]

I have just been watching the Bryan Jackson interview on the BBC. Now, something potentially interesting about his body language has occurred to me.

If you notice, he appears very uncomfortable in what he is saying, in particular when he is not speaking he is continually swallowing heavily.

If there are any psychologists out there and people who can read body language, I wonder what their assessment of this is. I once read that a sign of someone not quite telling the truth is that they start swallowing quite heavily as they know that what they are saying is not true and their body language is giving away their discomfort at what they are saying.

I am not saying anything, just that that man did not appear comfortable in that interview. Could be, of course, that he is just a very nervous type.

He's given quite a few TV interviews and press conferences since he started working with Hearts and has always looked and sounded assured. He certainly didn't today, his nervousness might explain the odd joke he made about being responsible for cancelling Christmas.

I would guess that something's up.

[Bostonhibby]

From me this morning. Maybe there's something in this. I'm curious why, if there's money to last until March, BJ is asking for fans to cancel their kids Xmas again? I was also told money was getting tight last week.

Theres more to this than he's letting on, I'm sure of it.

But surely he isn't going to lose sight of who he is meant to act for and what his priorities are meant to be? Or is "independent" Brian replacing "independent" ian who has mostly disappeared recently?

Brians role should be quite simple really-trouser a hefty fee for shutting them down or doing a swift hospital pass to the next owner. Its not that difficult.if it was a manufacturing business with a similar financial record they'd have wound it up and earned their fee months ago.

[jacomo]

From me this morning. Maybe there's something in this. I'm curious why, if there's money to last until March, BJ is asking for fans to cancel their kids Xmas again? I was also told money was getting tight last week.

Theres more to this than he's letting on, I'm sure of it.

There's a scenario unfolding here where Hearts are not out of admin by March, and the FoH Diddie money goes towards meeting monthly running costs rather than repaying the peeps who are stumping up the £2.5m offer. Ouch.

[gorgie greens]

I have just been watching the Bryan Jackson interview on the BBC. Now, something potentially interesting about his body language has occurred to me.

If you notice, he appears very uncomfortable in what he is saying, in particular when he is not speaking he is continually swallowing heavily.

If there are any psychologists out there and people who can read body language, I wonder what their assessment of this is. I once read that a sign of someone not quite telling the truth is that they start swallowing quite heavily as they know that what they are saying is not true and their body language is giving away their discomfort at what they are saying.

I am not saying anything, just that that man did not appear comfortable in that interview. Could be, of course, that he is just a very nervous type.

you can tell he's lying as you can see his lips moving

[Pete]

Hearts debt

2 Sports Marketing Ltd £5,153
A1 Minibus & Coaches £100
ADT Fire£1,033
Ayr United FC£1,750
Arnold Clark Finance£6,764
Allan Dick£50
Alasdair Fraser£528
Ardue House Hotel£180
AllStar Business Solutions£100
Alexander Szaorari£9,100
AB Ukio Bankas£15,488,290
Baltic Clipper£497
Bank of Scotland (Merchant Services)£100
Bank of Scotland (Equipment Finance)£970
Beswicks Sports Ltd£3,000
BOC Gases£490
British Red Cross£76
BT£3,024
British Gas£580
BIG Hearts Community Trust£589
Bruce Rae Property Management£34,048
Business Line UAB£204,143
Cable & Wireless£2,198
James Calcer£1,411
Cameron Presentations£5,406
Campbell Medical Supplies£100
Janette Campbell£100
Cardiac Services£152
Charlie Irons Coaches£100
Chamic£100
Childcare Vouchers£100
B Ciocco£11,469
Citroen£5,232
Clearwater Technology£5,156
Clouds£6,870
Coerver Coaching Scotland£949
Concept Group£841
Copymade Ltd£100
Corona Energy Retail£29,729
The Insolvency Service£0
DJ Alexander£6,323
David Cameron£110
Miss Amal Daher£120
Dataserve UK£160
DC Lighting Services£652
DJB Fire & Safety Training£48
Outfield Harrison£1,816
Daisy Communications£1,474
Ensco 165 £509,464
Eamonn Collins£5,000
Edinburgh Chamber of Commerce£674
Elite Medicale£222
Ermington Associates£100
Egkijius Valiauga£863
Fife Imaging Associates£903
Fountain Court Apartments£100
Football Safety Officers£230
GF Capital Solutions£337
John Gibson£2,520
Glenham Property£100
Graeme Rankin Sports Mgmt.£12,000
Green Star Media£77
Greentech Sportsturf£1,056
G4S£12,057
GroupCall Ltd.£210
HM Revenue - VAT£0
HM Revenue£1,881,068
Hamilton & Brydie£144
Hectic Life£52
HBJ Gateley Wareing£100
Herriot Watt£145,655
Highlander Kilt Hire£430
Hitachi Capital£7
Holiday Inn Aberdeen£58
Homespring Ltd£499
Sven Housten£40
HoMFC Shareholder Association£5,030
Impact Signs£6,499
InterLax£234
Interface En£100
James Armstrong & Co£1,520
Johnston Carmichael£100
Jane Lofthouse Johnson£410
James Sandison£680
J Thomson Colour Printers£100
Kauno Futbolo£13,431
Key Sports Management£23,049
Korelita£52,610
KPMG Hungary£1,190
Lady Haigs Poppy Fund£185
Lietuvos Rytas£37
Livingston FC£282
Liverpool FC£46,625
Llyods TSB£17,165
Lex Autolease£1,159
Lochgreen Hotel£510
Lyco Direct Ltd.£1,822
Milson Capital Corp£1,223,989
Ian Maclennan£335
McCraes Battalion Trust£100
Dr Carrie McCrea£760
Tony McGill£19,625
Dr Scott McKie£700
McRae of Gorgie£560
Meridan Hospital£790
Dr Andrew Murray£250
Musselburgh Athletic FC£5,790
Michael Page International£100
NHS Lothian£75
NHS Fife £739
North Lanarkshire Council£100
Northgate Vechile Hire£100
Nuffield Health£4,645
OG Lawfirm£5,000
Orange£5,896
PHS Group£1,110
Pulsant Scotland£240
Paton Plant Ltd£3,290
Pendrich Height Services£6,552
Performing Right Society£13,995
Pitch International£4,746
PPL Sport & Leisure£1,325
PPL£4,133
Premier Sports£4,836
ProKit£100
ProAmica£34,899
Professor Ernest Schiders£2,410
Rapide Communication£176
Respublikos Investicija£62
Runos Vertimal£43
RWN Orthopaedics£100
Ryden Lettings£100
Rigby Taylor Ltd.£1,564
Robert Graeme Wilson£150
Spie Matthew£2,436
Spire Healthcare£3,118
Scottish Water£100
Steve Hutchison£3,430
Scottish Police Authority£18,585
Savills£20,602
Scottish Ambulance Services£2,454
Scomac Catering Equip.£100
Scottish Power (Stadium)£9,544
Scottish Power (Ticket Office)£5,467
Scottish Power (Admin Block)£1,254
Scottish Gas Business£347
Scrubbers Laundry£162
SDMS£411
Securevent Security£12,309
SFA£5,011
Shanks Waste Mgmt.£1,211
Scottish Hydro Electric£139
Jordan Shearer£90
Shred-it£457
Sky Business£100
Slaters£100
SNS Group£1,281
Spectator Seating£13,005
Speedy Power£100
Sportsmasters£1,648
Sporting ID£100
Sports Medicine Uraea AB£2,700
SRM Hearts£19,853
Scottish Power£100
St Andrews First Aid£364
Stenhousemuir FC£12,900
Stellar Football Ltd£5,750
Streamline Print Mgmt.£418
Superturas£26,636
Scottish Youth Football Assoc.£1,700
T.G Baker Sound£2,656
ThyssenKnapp Elevator£3,378
City of Edinburgh Council£90,715
City of Edinburgh Council (for flats)£2,631
The Edinburgh Clinic£557
Newspaper Licensing Agency£1,428
Talk Talk£5,548
The Rangers FC£1,410
Ticketmaster£33,112
TNT UK£8
TNT Post£56
Trichem£1,380
Technology Services Group£1,967
Turnstile Systems£810
UAB litcargus£1,166
UK Football Academy£228
Unum£2,300
UAB Ukio£8,151,497
Veecom Systems£3,525
Viola£290
Vodafone Connect£343
Wallace Brown/Langstane£956
Weatherseal£42
Western Saab£500
Dr David Whitaker£500
Scott Wilson£1,000
Yorkshire Clinic£2,562

NEVER LET THEM FORGET. THE TEAM WITH NO SHAME...

These people know the score. I'm sure they're all celebrating at the news of a potential CVA.


Never let them forget.

[Gus Fring]

I thought the 'kids Christmas' comment was merely tongue in cheek, nothing more.

The ****bos will be coming out of administration in February or March at the latest which is disappointing, But on a brighter note they will definitely be getting relegated this season. :)

As did I at first but the more I watch it the more it seems like a nervous laugh. It's definitely in context with the more serious claims of needing more money soon. It's a joke in poor taste IMO.

[GREEN WARLORD]

Hearts debt

2 Sports Marketing Ltd £5,153
A1 Minibus & Coaches £100
ADT Fire£1,033
Ayr United FC£1,750
Arnold Clark Finance£6,764
Allan Dick£50
Alasdair Fraser£528
Ardue House Hotel£180
AllStar Business Solutions£100
Alexander Szaorari£9,100
AB Ukio Bankas£15,488,290
Baltic Clipper£497
Bank of Scotland (Merchant Services)£100
Bank of Scotland (Equipment Finance)£970
Beswicks Sports Ltd£3,000
BOC Gases£490
British Red Cross£76
BT£3,024
British Gas£580
BIG Hearts Community Trust£589
Bruce Rae Property Management£34,048
Business Line UAB£204,143
Cable & Wireless£2,198
James Calcer£1,411
Cameron Presentations£5,406
Campbell Medical Supplies£100
Janette Campbell£100
Cardiac Services£152
Charlie Irons Coaches£100
Chamic£100
Childcare Vouchers£100
B Ciocco£11,469
Citroen£5,232
Clearwater Technology£5,156
Clouds£6,870
Coerver Coaching Scotland£949
Concept Group£841
Copymade Ltd£100
Corona Energy Retail£29,729
The Insolvency Service£0
DJ Alexander£6,323
David Cameron£110
Miss Amal Daher£120
Dataserve UK£160
DC Lighting Services£652
DJB Fire & Safety Training£48
Outfield Harrison£1,816
Daisy Communications£1,474
Ensco 165 £509,464
Eamonn Collins£5,000
Edinburgh Chamber of Commerce£674
Elite Medicale£222
Ermington Associates£100
Egkijius Valiauga£863
Fife Imaging Associates£903
Fountain Court Apartments£100
Football Safety Officers£230
GF Capital Solutions£337
John Gibson£2,520
Glenham Property£100
Graeme Rankin Sports Mgmt.£12,000
Green Star Media£77
Greentech Sportsturf£1,056
G4S£12,057
GroupCall Ltd.£210
HM Revenue - VAT£0
HM Revenue£1,881,068
Hamilton & Brydie£144
Hectic Life£52
HBJ Gateley Wareing£100
Herriot Watt£145,655
Highlander Kilt Hire£430
Hitachi Capital£7
Holiday Inn Aberdeen£58
Homespring Ltd£499
Sven Housten£40
HoMFC Shareholder Association£5,030
Impact Signs£6,499
InterLax£234
Interface En£100
James Armstrong & Co£1,520
Johnston Carmichael£100
Jane Lofthouse Johnson£410
James Sandison£680
J Thomson Colour Printers£100
Kauno Futbolo£13,431
Key Sports Management£23,049
Korelita£52,610
KPMG Hungary£1,190
Lady Haigs Poppy Fund£185
Lietuvos Rytas£37
Livingston FC£282
Liverpool FC£46,625
Llyods TSB£17,165
Lex Autolease£1,159
Lochgreen Hotel£510
Lyco Direct Ltd.£1,822
Milson Capital Corp£1,223,989
Ian Maclennan£335
McCraes Battalion Trust£100
Dr Carrie McCrea£760
Tony McGill£19,625
Dr Scott McKie£700
McRae of Gorgie£560
Meridan Hospital£790
Dr Andrew Murray£250
Musselburgh Athletic FC£5,790
Michael Page International£100
NHS Lothian£75
NHS Fife £739
North Lanarkshire Council£100
Northgate Vechile Hire£100
Nuffield Health£4,645
OG Lawfirm£5,000
Orange£5,896
PHS Group£1,110
Pulsant Scotland£240
Paton Plant Ltd£3,290
Pendrich Height Services£6,552
Performing Right Society£13,995
Pitch International£4,746
PPL Sport & Leisure£1,325
PPL£4,133
Premier Sports£4,836
ProKit£100
ProAmica£34,899
Professor Ernest Schiders£2,410
Rapide Communication£176
Respublikos Investicija£62
Runos Vertimal£43
RWN Orthopaedics£100
Ryden Lettings£100
Rigby Taylor Ltd.£1,564
Robert Graeme Wilson£150
Spie Matthew£2,436
Spire Healthcare£3,118
Scottish Water£100
Steve Hutchison£3,430
Scottish Police Authority£18,585
Savills£20,602
Scottish Ambulance Services£2,454
Scomac Catering Equip.£100
Scottish Power (Stadium)£9,544
Scottish Power (Ticket Office)£5,467
Scottish Power (Admin Block)£1,254
Scottish Gas Business£347
Scrubbers Laundry£162
SDMS£411
Securevent Security£12,309
SFA£5,011
Shanks Waste Mgmt.£1,211
Scottish Hydro Electric£139
Jordan Shearer£90
Shred-it£457
Sky Business£100
Slaters£100
SNS Group£1,281
Spectator Seating£13,005
Speedy Power£100
Sportsmasters£1,648
Sporting ID£100
Sports Medicine Uraea AB£2,700
SRM Hearts£19,853
Scottish Power£100
St Andrews First Aid£364
Stenhousemuir FC£12,900
Stellar Football Ltd£5,750
Streamline Print Mgmt.£418
Superturas£26,636
Scottish Youth Football Assoc.£1,700
T.G Baker Sound£2,656
ThyssenKnapp Elevator£3,378
City of Edinburgh Council£90,715
City of Edinburgh Council (for flats)£2,631
The Edinburgh Clinic£557
Newspaper Licensing Agency£1,428
Talk Talk£5,548
The Rangers FC£1,410
Ticketmaster£33,112
TNT UK£8
TNT Post£56
Trichem£1,380
Technology Services Group£1,967
Turnstile Systems£810
UAB litcargus£1,166
UK Football Academy£228
Unum£2,300
UAB Ukio£8,151,497
Veecom Systems£3,525
Viola£290
Vodafone Connect£343
Wallace Brown/Langstane£956
Weatherseal£42
Western Saab£500
Dr David Whitaker£500
Scott Wilson£1,000
Yorkshire Clinic£2,562

NEVER LET THEM FORGET. THE TEAM WITH NO SHAME...

:top marks

[Skol]

The scotsman article for tomorrow doesnt exactly tell the story like JKB are reading it and talks of possible stumbling blocks, delays and challemges

Does no one over there stop to think things through. Yes things have taken a step forward, but Jackson was letting off some huge warning signs in the interview, signs that are being ignored and in fact read as positives.

I would like to ask some questions on JKB to see what they start to say, but my ability to post over there is restricted due to a long standing ban on posting placed upon me in error which I refuse to acknowledge as it wasnt me in the first place and entirely their admin error (and I have an e-mail to prove it ! - oh the irony of an admin error !!!). However ,I might give in and throw a few cats amongst the pigeons

[StevieC]

There's a scenario unfolding here where Hearts are not out of admin by March, and the FoH Diddie money goes towards meeting monthly running costs rather than repaying the peeps who are stumping up the £2.5m offer. Ouch.

Season Tickets will be on sale in February, that'll get them through to the end of the season.

[Steve20]

I thought the 'kids Christmas' comment was merely tongue in cheek, nothing more.

The ****bos will be coming out of administration in February or March at the latest which is disappointing, But on a brighter note they will definitely be getting relegated this season. :)

It's not definite that they'll go down. They could make points up on Killie. Even if they don't make up the full points, there's a very high chance that Kilmarnock will go into admin themselves this season.

[weonlywon6-2]

I have just been watching the Bryan Jackson interview on the BBC. Now, something potentially interesting about his body language has occurred to me.

If you notice, he appears very uncomfortable in what he is saying, in particular when he is not speaking he is continually swallowing heavily.

If there are any psychologists out there and people who can read body language, I wonder what their assessment of this is. I once read that a sign of someone not quite telling the truth is that they start swallowing quite heavily as they know that what they are saying is not true and their body language is giving away their discomfort at what they are saying.

I am not saying anything, just that that man did not appear comfortable in that interview. Could be, of course, that he is just a very nervous type.


I think we are clutching at straws now

[gorgie greens]

I think we are clutching at straws now

could be right there,thing is going by how the voting went regarding what we thought or hoped the outcome would be to the severity of the punishment that they would get for there cheating,lies,theft and just being pond life,we can only hope that there is a god and they get whats due.
having followed this from the start and read every comment and view ,i think the diddies will drop over the next few months as they already (fans) think they will have the nose and a few others there plying there trade at swynie in the next couple of months and when that doesnt happen,the cold days n nights are here,xmas,and their thin squad picks up injuries and suspensions ,i can see them having to sell some player as well,things will be torid for a bit there,and you dont enjoy going to games when your team is not winning games.
time will tell but im hoping there will be a few more twists in this before the season is out and think we should start a save Killie fund till May time,i would happily pay £20/£30 per month if it ment Killie avoided admin till the end of the season and Hearts go down.

[Alfred E Newman]

I think we are clutching at straws now

Maybe not, if you read today's " Cancel Christmas " plea from Jackson in the morning papers!

http://www.express.co.uk/sport/football/445935/Christmas-cancelled-for-Hearts-fans

[Baker9]

From me this morning. Maybe there's something in this. I'm curious why, if there's money to last until March, BJ is asking for fans to cancel their kids Xmas again? I was also told money was getting tight last week.

Theres more to this than he's letting on, I'm sure of it.

It seems to be all about what happens after March. If the shares are still frozen and the money has run out in March or earlier, it is a dead club. Even if the shares are transferred it is a terminally ill club. It seems to have reached a point for where for the first time in the long running saga I actually understand what is happening. There is simply no viable future in the next 100 years for HMFC. I for one am a tiny bit sad about that.

What a massive longer term opportunity for Edinburgh Hibs FC!

[Weststandwanab]

Look at that man's face during his interview today on the BBC, Bajillions, that man is nervous. I think so too.


But surely he isn't going to lose sight of who he is meant to act for and what his priorities are meant to be? Or is "independent" Brian replacing "independent" ian who has mostly disappeared recently?

Brians role should be quite simple really-trouser a hefty fee for shutting them down or doing a swift hospital pass to the next owner. Its not that difficult.if it was a manufacturing business with a similar financial record they'd have wound it up and earned their fee months ago. So true.


There's a scenario unfolding here where Hearts are not out of admin by March, and the FoH Diddie money goes towards meeting monthly running costs rather than repaying the peeps who are stumping up the £2.5m offer. Ouch.That is distinctly possible.

[Booked4Being-Ugly]

It seems to be all about what happens after March. If the shares are still frozen and the money has run out in March or earlier, it is a dead club. Even if the shares are transferred it is a terminally ill club. It seems to have reached a point for where for the first time in the long running saga I actually understand what is happening. There is simply no viable future in the next 100 years for HMFC. I for one am a tiny bit sad about that.

What a massive longer term opportunity for Edinburgh Hibs FC!What a wee shame for them! :partyhibb

[Matty_Jack04]

But surely he isn't going to lose sight of who he is meant to act for and what his priorities are meant to be? Or is "independent" Brian replacing "independent" ian who has mostly disappeared recently?

Brians role should be quite simple really-trouser a hefty fee for shutting them down or doing a swift hospital pass to the next owner. Its not that difficult.if it was a manufacturing business with a similar financial record they'd have wound it up and earned their fee months ago.

He can't come across as a man willing to press the big shut down button or the yams won't pass over their hard earned when it's needed, he has to sell the club as a going concern which is why in his media dealings he doesn't come across independent as it's his only way of reaching supporters, so it's positive spin when possible. I think up to now he's been quite honest to be fair he's not filled anyone with false hope and he's been critical of FOH mouthing off, there's probably more to it than he's letting on but when you have press meetings and no one is asking the right questions you can't expect him to let these things be known, the club has a wee boost at the moment a big game coming all he's bothered in is shifting tickets and keep the feel good factor going as long a possible not bringing the yams crashing down to earth at the first oppertunity