Share Transfers Agreed/Cooling off period

[silverhibee]

:lolyam::brokenyam::titanic:



:banana::nanafunk::nanasplit::nanawave:

[Mon Dieu4]

i see in their fundraising event one of the lots is a Christian Nade shirt(not making this up haha) Shirley they would get more money from a rag and bone man with that amount of material

[FranckSuzy]

i see in their fundraising event one of the lots is a Christian Nade shirt(not making this up haha) Shirley they would get more money from a rag and bone man with that amount of material

is it this one? :greengrin

http://i687.photobucket.com/albums/vv233/FranckSuzy/Decorated%20images/HMFC2vAFc1_14022009_Pict0088-1-1.jpg

[Franck Stanton]

i see in their fundraising event one of the lots is a Christian Nade shirt(not making this up haha) Shirley they would get more money from a rag and bone man with that amount of material

Might buy this, was thinking of getting a new 4-man tent for the summer anyway :wink:

[matty_f]

The een story said the fans need to generate £10k/ day to keep them alive. Like any fundraising they'll get a good initial response but people will pay up early, after that it'll fall off and they'll struggle to get anywhere close to that.


Which is a shame.

[--------]

The cake song if anybody disnae ken the words or tune :greengrin no sure if this should have gone on this thread or the :hilarious thread


http://www.youtube.com/watch?v=f1gfZwejPv8


My, Dan, I DID enjoy listening to that lovely piece of popular music.

I feel ill. :ill:

[SloopJB]

Chick saying on the radio that Rangers offered to pay £500,000 early and Vlad refused the offer

[Kaiser1962]

Question is: what the hell is that for? HMRC bills will not be that big. Is Romanov trying to suck some cash out of them?

:dunno:

I am not sure but their previous costs over the last 35 months of published accounts make staggering reading. Given that Feditupthem stated that their wages for the cup final team were £8m it would mean last season they had made no headway into their wage bills. The three years accounts prior to this gave them a monthly wage bill of £734k and, while I accept they will have reduced this already this season it will still be wedge and they have two pay days till dec 19th. Worryingly for them their running costs appear to be just over £600k although included in this figure is some £140k interest which dosent appear to actually change hands. Their income averages out at £660k per month but, as we all know, the bulk of that will be ST money which they have already spent.

I think the amounts that are being raised by the fans is chickenfeed by comparison.

[PatHead]

Chick saying on the radio that Rangers offered to pay £500,000 early and Vlad refused the offer

If either he or Green told me it was Saturday I would have to check. Wouldn't believe a word that comes out of either of them. If they are offering 500k how much are the actually due?

[SloopJB]

If either he or Green told me it was Saturday I would have to check. Wouldn't believe a word that comes out of either of them. If they are offering 500k how much are the actually due?

I think they owe £800,000
Rangers offered £500,000 as a final payment to save themselves £300,000

[Spike Mandela]

I think they owe £800,000
Rangers offered £500,000 as a final payment to save themselves £300,000

Oppurtunistic bassas:greengrin

[MSK]

Chick saying on the radio that Rangers offered to pay £500,000 early and Vlad refused the offerWas it not take £500,000 now & we call it quits ....but Vlad wants £800,000 or so ... ?

[MSK]

I think they owe £800,000
Rangers offered £500,000 as a final payment to save themselves £300,000


Was it not take £500,000 now & we call it quits ....but Vlad wants £800,000 or so ... ?:agree:

[BarneyK]

Was it not take £500,000 now & we call it quits ....but Vlad wants £800,000 or so ... ?

Vlad wants £800k because that's what they're due. Nowt changes with those Sevco bassas :greengrin

[MSK]

Vlad wants £800k because that's what they're due. Nowt changes with those Sevco bassas :greengrinTrue :greengrin

[Mikey]

Well they now know the money's there to pay the first tax bill. They just have to accept it from Rangers.

[--------]

More bad news for them.

WONGA have withdrawn their shirt sponsorship deal ....








.... on the grounds that having their name associated with a bunch of grasping mercenary money-grabbers who'd rob bairns' piggy-banks and rip the fillings out of their grannies' teeth to line their own pockets is bringing their own loan-shark operation into disrepute.


:flag:

[SloopJB]

Was it not take £500,000 now & we call it quits ....but Vlad wants £800,000 or so ... ?

yes, I said that in a later post.
I'm the one with the 'Hector' avatar.

[The_Sauz]

Chick saying on the radio that Rangers offered to pay £500,000 early and Vlad refused the offer

So this must be a lie http://www.dailymail.co.uk/sport/football/article-2187829/Rangers-confirm-settled-debts-Scottish-clubs.html

:fibber:

[BarneyK]

Well they now know the money's there to pay the first tax bill. They just have to accept it from Rangers.

It may come to that, but they'll then have to find that £300k elsewhere as they've presumably budgeted for it. Shame :na na:

[mayo hibee]

What a shower of pricks this new team 'The Rangers' are toying with Hearts with that 500k offer.

****ing hilarious though.

[Kojock]

Well they now know the money's there to pay the first tax bill. They just have to accept it from Rangers.

Vlads no that daft if he comes out and says he has accepted Sevcos kind offer then the Jumbo muppets will stop buying shares and throwing their savings at the lost cause. If the share money falls short he gives Chuckie a call and says he will accept it. Win win for Vlad.

[Hibiza]

any more for sevco1 and sevco 2. :flag:

[tamig]

So this must be a lie http://www.dailymail.co.uk/sport/football/article-2187829/Rangers-confirm-settled-debts-Scottish-clubs.html

:fibber:
It's not a lie. They're not due the next Wallace instalment until January.

[The_Sauz]

At the bottom of this article http://www.express.co.uk/posts/view/356576/Rangers-to-pay-Jelavic-debt Hertz money is due in January!
Not sure if he should take the £500000 and pay the first tax debt, or wait until an Iceberg comes along and pockets the £800000 :greengrin

[iwasthere1972]

any more for sevco1 and sevco 2. :flag:

Sevco West

Sevco East

[The_Sauz]

It's not a lie. They're not due the next Wallace instalment until January.

So what debt did he pay then :confused:

[Lucius Apuleius]

Well if we are opening whiskys for it, I can see the Dalmore 40 year old being opened soon. Just hoped it happens before I go back to naija or it will be a G&T due to an absence of decent malts. :-)

[Part/Time Supporter]

So what debt did he pay then :confused:

The debt that was due for payment (or past due) when old RFC went bust.

[God Petrie]

Well if we are opening whiskys for it, I can see the Dalmore 40 year old being opened soon. Just hoped it happens before I go back to naija or it will be a G&T due to an absence of decent malts. :-)

Wait until the first of January for the 40 year old ;)

[--------]

What a shower of pricks this new team 'The Rangers' are toying with Hearts with that 500k offer.

****ing hilarious though.



No, not really.

They're simply offering to settle the outstanding debt early for a reduction in the total owed.

You could look on it as an offer of ready cash for Hearts to ease their immediate problems; Hearts may not be around to be paid in January. Rangers pay them the cash now when they need it urgently; Hearts agree to a reduction in the debt.

"Quid pro quo, Clarice ..."

Ironic that the club they've been imitating for as long as I can remember are so 'sympathetic' to their predicament now.

:devil:

[Kaiser1962]

It's not a lie. They're not due the next Wallace instalment until January.

As much as I enjoy the Yam suffering the fact that this players fee is still outstanding is nothing short of scandalous. T + C of Sevco's participation should have been that all outstanding football debts (at least!) should have been paid in full before a ball was kicked. Chuckie saying they are "debt free" when that is clearly, like everything else the balloon utter, is nonsense.

When green is bragging openly about there being £10m in the bank yet they cant settle their debts.

Although I would add the caveat that perhaps we cant believe any of the pair of them.

[Lucius Apuleius]

Wait until the first of January for the 40 year old ;)

Good thinking my son. Dont get home from naija till the third but it could wait a couple of days. :-)

[jabis]

Well if we are opening whiskys for it, I can see the Dalmore 40 year old being opened soon. Just hoped it happens before I go back to naija or it will be a G&T due to an absence of decent malts. :-)

i'm sure that must be past the sell-by date,send it to me and I'll check it out for you :agree: :greengrin

[HFC 0-7]

It's not a lie. They're not due the next Wallace instalment until January.

dont think they owe any money on the wallace deal. think they paid that aat a reduced amount do that they could pay wages. they are due money from the templeton deal in january and again in the summer. CG just offered Vlad 500K now and Vlad knocked it back.

chick Dung apparently got mixed up between templeton and wallace.

[iwasthere1972]

These tramps are really a bad advertisement for their well respected sponsors.


:singing: If you cannae spell it
Then here’s what it says
Wonga Pay Day Loans
Four Thousand Per Cent APR
Go online today
that’s what we say
It’s easy to use
With a loan slider bar

You’ve seen us on telly
I’m Betty she’s Joyce
There’s also auld Earl
He’s one of the boys
We’re all in our eighties
We love our wee job
We’re here to help you
Borrow a few bob

You can borrow the cash
To use as you like
Perhaps a telly
Or maybe a bike
You must pay us back
Within thirty one days
Or we’ll send round our heavies
They look like the Krays :singing:

[soda70]

These tramps are really a bad advertisement for their well respected sponsors.


:singing: If you cannae spell it
Then here’s what it says
Wonga Pay Day Loans
Four Thousand Per Cent APR
Go online today
that’s what we say
It’s easy to use
With a loan slider bar

You’ve seen us on telly
I’m Betty she’s Joyce
There’s also auld Earl
He’s one of the boys
We’re all in our eighties
We love our wee job
We’re here to help you
Borrow a few bob

You can borrow the cash
To use as you like
Perhaps a telly
Or maybe a bike
You must pay us back
Within thirty one days
Or we’ll send round our heavies
They look like the Krays :singing:

:thumbsup:

[Ozyhibby]

Bit disappointed they did not take the deal as it would a £300,000 hole in their accounts later.
They must be confident that they will make the payment to HMRC this week.
Can't see them making wages though. We must be at the point of point deductions by now?

[LeighLoyal]

Sevco zombie huns stiffing Yams :thumbsup:

[WindyMiller]

As much as I enjoy the Yam suffering the fact that this players fee is still outstanding is nothing short of scandalous. T + C of Sevco's participation should have been that all outstanding football debts (at least!) should have been paid in full before a ball was kicked. Chuckie saying they are "debt free" when that is clearly, like everything else the balloon utter, is nonsense.

When green is bragging openly about there being £10m in the bank yet they cant settle their debts.

Although I would add the caveat that perhaps we cant believe any of the pair of them.


Very few teams pay up front nowadays ( and yet Oor Rod always seems to get money up front :aok: ) , they all try to pay in instalments. So at the moment Sevco West aren't due to pay Sevco East until January for Wallace and next Summer for Templeton.

[cabbageandribs1875]

http://www.bbc.co.uk/sport/0/football/20281242

Hearts have rejected an offer from Rangers to renegotiate the terms of payment for defender Lee Wallace.

With Hearts under the threat of a winding-up order over a tax bill of almost £450,000, Rangers said they would hand over £500,000 now.
But Rangers wanted to close the deal with that gesture and Hearts owner Vladimir Romanov has dismissed it.



me thinks the mad one will be paying the 450K in the corridor leading to the court :agree:

[The_Sauz]

Lineup, Bookings (1) & Substitutions (3)

Blackburn Rovers



01 Robinson
03 Mn Olsson
16 Dann
27 Henley
31 G Hanley
10 Formica
13 Murphy
14 Ms Olsson (Nunes - 71' )
18 Etuhu
11 Rhodes
23 Rochina (Vukcevic - 61' )

Substitutes



34 Kean
02 Orr
06 Lowe
07 Nunes
12 Pedersen
33 Vukcevic
21 Nuno Gomes


Birmingham City



01 Butland
03 Murphy
04 Caldwell
23 Spector
30 Robinson
07 Burke
08 Mullins
12 Morrison Booked
15 Elliott
09 King
19 Zigic (Redmond - 75' )

Substitutes



13 Doyle
05 Pablo
27 Hancox
10 Ambrose
22 Redmond
32 Diop
11 Lovenkrands


Ref: Naylor
Att: 149,191 :panic: Hope they are having Yams collection

[The_Sauz]

Very few teams pay up front nowadays ( and yet Oor Rod always seems to get money up front :aok: ) , they all try to pay in instalments. So at the moment Sevco West aren't due to pay Sevco East until January for Wallace and next Summer for Templeton.

They (NewHuns) are due them (MiniHuns) £300000 in January with another payment of £500000 in July....for what player, nobody seems to know!












































or care :greengrin

[hibees 7062]

I'm away to ardnamurchan this morning, I've packed a bottle of macallan 15 to help me enjoy the peace and quiet and obviously the demise of the jamtards.

I'll try to stay sober long enough to find that "bothy on the knoydart" though :greengrin

Why :confused:

[hibees 7062]

Sergey has asked us to keep his info to the PM board and we'll respect that.

IMO private membership is worth every penny anyway but it's even better when we get wee snippets of info like this :greengrin

£10 a year is hardly a massive sum of money to keep this site running smoothly and every penny that we raise ends up going back to Hibs in some form or other.

I've said it before but it works out at less than 3p per day to support the site. :thumbsup:

Perhaps we should look at a payment plan :tee hee:

Im in :greengrin

[Famous Fiver]

John Robertson stated on Sportsound today that the share issue has no connection with the 1.75 million( and the rest) tax case despite Feduptaeth backteeth admitting yesterday that it was.

How gullible are these people?

[blackpoolhibs]

John Robertson stated on Sportsound today that the share issue has no connection with the 1.75 million( and the rest) tax case despite Feduptaeth backteeth admitting yesterday that it was.

How gullible are these people?

They really are the thickest of the thick. You couldn't make any of this up, the average jambo is an idiot and needs help to make basic things like tea or toast.

Even the most stupid person in the world would think twice about going back to the place they are continually kicked straight in the baws, but then again you have to understand just who we are dealing with here. :lolyam::lolyam::lolyam::lolyam:

[Baldy Foghorn]

John Robertson stated on Sportsound today that the share issue has no connection with the 1.75 million( and the rest) tax case despite Feduptaeth backteeth admitting yesterday that it was.

How gullible are these people?

The wee fatty claimed he would only take the ambassador role, if the Club were totally transparent with him and the fans.....

Surely the wee dumpling has not been hoodwinked.....:cb

[cam75]

How do I upload a photo from iPhone ?

[jgl07]

John Robertson stated on Sportsound today that the share issue has no connection with the 1.75 million( and the rest) tax case despite Feduptaeth backteeth admitting yesterday that it was.

How gullible are these people?

He may be right there.

The £1.75 million tax assessment could be around £4 million with penalty charges and interest. A £2 million share issue will be nowhere near enough to cover that.

They have more pressing issues than that one including the £500,000 tax bill and the November wages both due next Friday. The club could be six feet under by the time that tax case is resolved.

[Jim44]

Robertson is being deified over on KB just now. Some are suggesting that he should replace McGlib immediately. Is Blobby the new Super Ally. :-)

[clerriehibs]

Bit disappointed they did not take the deal as it would a £300,000 hole in their accounts later.
They must be confident that they will make the payment to HMRC this week.
Can't see them making wages though. We must be at the point of point deductions by now?

They'll all have been told to voluntarily suspend wages demands so the spl won't be interested.

[Kaiser1962]

Very few teams pay up front nowadays ( and yet Oor Rod always seems to get money up front :aok: ) , they all try to pay in instalments. So at the moment Sevco West aren't due to pay Sevco East until January for Wallace and next Summer for Templeton.

My point was really that Rangers went bust and one of the conditions of "Sevco West" being allowed to remain within the SFL was that they paid up the "football debt".
Given the previous of rangers FC (not paying for wallace, selling jelevic before they have even paid for him) I would have thought it prudent to make sure this was settled. Although it also highlights the Yam stupidity in not receiving payment for Wallace and then giving them tick for Templeton whilst hitting the financial buffers themselves.

As you allude to, I cant imagine Rod falling for that one.

[S.sct]

John Robertson stated on Sportsound today that the share issue has no connection with the 1.75 million( and the rest) tax case despite Feduptaeth backteeth admitting yesterday that it was.

How gullible are these people?

He's as deluded as the punters...

[Kaiser1962]

They'll all have been told to voluntarily suspend wages demands so the spl won't be interested.

Surely they have still failed to meet their contractual obligations, voluntarily or not?

[greenginger]

He's as deluded as the punters...


John Robertson could'nt run a Heart's Pub in Gorgie Road.

Ideal choice to oversee the share offer scam ! :agree:

[WindyMiller]

He's as deluded as the punters...



http://t3.gstatic.com/images?q=tbn:ANd9GcTz5Z8iJLonLH7HWff5Ef9mg8bwIs8FH i-SUtM2uUHrKudnlhpQ

[Springbank]

If hearts go bust tonight, and scores against them are voided, guess who that would send straight to the top of the league (clue: hiberni-n)

Oh and we'd get a bye in the special relationship cup at their expense too

[stoneyburn hibs]

Robertson is being deified over on KB just now. Some are suggesting that he should replace McGlib immediately. Is Blobby the new Super Ally. :-)

Please get him in before the cup tie as nothing would please me more if he is the manager when we put them oot.

[Sas_The_Hibby]

Oh and we'd get a bye in the special relationship cup at their expense too

All this merriment AND the league and cup double in the bag - it doesn't get better than this! :greengrin

[green glory]

He he.

[clerriehibs]

Surely they have still failed to meet their contractual obligations, voluntarily or not?

Maybe, to the letter of the law, but remember this is the SPL we are talking about, who make it up as they go along. If no-one at swyney is complaining, they'll let it go.

[Ozyhibby]

Maybe, to the letter of the law, but remember this is the SPL we are talking about, who make it up as they go along. If no-one at swyney is complaining, they'll let it go.

The rules were changed so that the players did not have to make a complaint. It's up to Hearts to notify the SPL they have not paid within a couple of days.

[LeighLoyal]

Not sympathising or making excuses for the Yams, but Sevco thickoes need to consider that Hearts tax bill of £2m doesn't really compare to the late Rangers FC's (RIP) £90m. I think Vlad will pay up also, unlike that zombie filth in Govan.

[clerriehibs]

Not sympathising or making excuses for the Yams, but Sevco thickoes need to consider that Hearts tax bill of £2m doesn't really compare to the late Rangers FC's (RIP) £90m. I think Vlad will pay up also, unlike that zombie filth in Govan.

No need for comparisons. Gorgie or Govan, filth is filth. Sevco have their own thread on hibs.net, no need to use them on this thread to put the gorgie filth in a better light.

[LeighLoyal]

No need for comparisons. Gorgie or Govan, filth is filth. Sevco have their own thread on hibs.net, no need to use them on this thread to put the gorgie filth in a better light.




The Govan variety filth stink a lot more. £2m aint £90m. Doesn't mean the Gorgie mob don't stink of course. :greengrin

[euansdad]

Must be a Hun thing

[clerriehibs]

The Govan variety filth stink a lot more. £2m aint £90m. Doesn't mean the Gorgie mob don't stink of course. :greengrin

fth and I hope they die.

[eebsie]

Good to see Rangers, in their new guise, trying to cash in on Hearts problems by trying to renege on the original deal and get Wallace on the cheap.

[euansdad]

Missed this whats happened?

[Ringothedog]

Good to see Rangers, in their new guise, trying to cash in on Hearts problems by trying to renege on the original deal and get Wallace on the cheap.

Its not Wallace its Templeton

[CropleyWasGod]

Its not Wallace its Templeton

According to the BBC, it's Wallace.

http://www.bbc.co.uk/sport/0/football/20281242

I find it strange if it is true. By taking the £500k now, they could pay off HMRC and buy themselves some time.

[Ringothedog]

According to the BBC, it's Wallace.

http://www.bbc.co.uk/sport/0/football/20281242

I find it strange if it is true. By taking the £500k now, they could pay off HMRC and buy themselves some time.

F ME!! If the huns just paid their outstanding transfer fees to the gorgie muppets then they would be debt free:greengrin

[essexhibee]

Vlad must have a plan in place to refuse that money....surely? :confused:

[CropleyWasGod]

Vlad must have a plan in place to refuse that money....surely? :confused:

Either to lend them the money, and then charge ridiculous amounts of interest..... which he'll never get.

OR, and this was my first thought.... to just let it go pop on Thursday.

[Famous Fiver]

CWG

I think this indicates Vlad wil stump up. There is no other explanation.

He gets the deluded to contribute £2 Mill, keeps them going, he trousers the Wallace money and his loss at the end of the season is £2.8 million less, (£2 mill from the unwashed and £800,000 from Sevco), when the plug is finally pulled.

Oh, and he gets the bulk of the proceeds of the sale of PBS, whether they go into administration first, or then liquidated, because whatever way you wrap it up he owns the title deeds.

Ok, he takes a hit but hecan rent the ground back to the new Hearts at a greatly inflated rent.

Del Boy couldn't have worked it better.

[Kaiser1962]

Either to lend them the money, and then charge ridiculous amounts of interest..... which he'll never get.

OR, and this was my first thought.... to just let it go pop on Thursday.

If he lets it go pop on Thursday, which will then be followed by the shortest liquidation in history, Vlad still gets his £800k does he not?

[CropleyWasGod]

CWG

I think this indicates Vlad wil stump up. There is no other explanation.

He gets the deluded to contribute £2 Mill, keeps them going, he trousers the Wallace money and his loss at the end of the season is £2.8 million less, (£2 mill from the unwashed and £800,000 from Sevco), when the plug is finally pulled.

Oh, and he gets the bulk of the proceeds of the sale of PBS, whether they go into administration first, or then liquidated, because whatever way you wrap it up he owns the title deeds.

Ok, he takes a hit but hecan rent the ground back to the new Hearts at a greatly inflated rent.

Del Boy couldn't have worked it better.

Fair shout, but do you think the fans will give anywhere near £2m?

[CropleyWasGod]

If he lets it go pop on Thursday, which will then be followed by the shortest liquidation in history, Vlad still gets his £800k does he not?

...yes, if the liquidator manages to screw Green's balls to the floor for long enough. :greengrin

Sorry, yes. RFC would be legally liable for the full £800k.

[Kaiser1962]

...yes, if the liquidator manages to screw Green's balls to the floor for long enough. :greengrin

Sorry, yes. RFC would be legally liable for the full £800k.

Both scenarios are agreeable.

[PatHead]

Three questions about Thursday

1. Is it a public hanging?
2. Where do you get tickets?
3. Is it set for a time or is it just in a queue?

Sorry 4th- when is the party?

[ScottB]

Vlad must have a plan in place to refuse that money....surely? :confused:

To me that says that his plan is to not give a toss about Hearts.

If he wanted to save them, why not take that life saving money now? If they hit the wall Rangers will still have to cough up the full £800k to the liquidators, which will go to UBIG. So more money for Vlad.


I'm sure the Brokebackers will be saluting his defiant standing up to Rangers cheeky move, but really it's a slap in the face to them. Fair play to Rangers though, yes they'd get a discount, but potentially this gesture could offer a stay of the hangman's noose and they didn't have to make it.

[greenginger]

CWG

I think this indicates Vlad wil stump up. There is no other explanation.

He gets the deluded to contribute £2 Mill, keeps them going, he trousers the Wallace money and his loss at the end of the season is £2.8 million less, (£2 mill from the unwashed and £800,000 from Sevco), when the plug is finally pulled.

Oh, and he gets the bulk of the proceeds of the sale of PBS, whether they go into administration first, or then liquidated, because whatever way you wrap it up he owns the title deeds.

Ok, he takes a hit but hecan rent the ground back to the new Hearts at a greatly inflated rent.

Del Boy couldn't have worked it better.

Or why not just get HMRC to close them down now.

Saves 7 months of massive wages, the Tax Bills disappear along with all the other stuff he is due, the Tax Tribunal becomes an irrelevance which he does not have to pay lawyers to lodge an appeal.

His securities and floating charge means he keeps the PBS , the transfer income due and probably even the name and history of HOMFC to sell or lease to a Maroon Sevco should one appear.

His biggest loss - they won't love him any more down Gorgie. :greengrin

[TrinityHibs]

Okay how do you get into the inner sanctum? I have been lured in by Sergey which is annoying as I deleted a thread at his personal request and will be very unhappy if I get the inside line just as the pink bubble pops. My wife thinks I am immature because I smirk about the position Hetrtz find themselves in but today she redeemed herself with you said Hearts are pointless but they're not they got 1 today.

[NotoriousLor]

His biggest loss - they won't love him any more down Gorgie. :greengrin

Can't believe they still do to be honest :confused:

[SloopJB]

Three questions about Thursday

1. Is it a public hanging?
2. Where do you get tickets?
3. Is it set for a time or is it just in a queue?

Sorry 4th- when is the party?
I heard on the radio that Hearts will request a delay to the hearing, while HMRC wont agree to it, they wont oppose it either which means Thursday is no more than ..... Thursday

[matty_f]

I heard on the radio that Hearts will request a delay to the hearing, while HMRC wont agree to it, they wont oppose it either which means Thursday is no more than ..... Thursday

They said they could ask to delay, not that they will.

[Baldy Foghorn]

I just want them dead and buried ASAP, sick of them......

100,000c at Cup Final Parade, do we think they will get more for the funeral procession........:cb

[Suburban Hibby]

I just want them dead and buried ASAP, sick of them......

100,000c at Cup Final Parade, do we think they will get more for the funeral procession........:cb

Absolutely- at least 100,001- I will go just to dance on their grave!!!

[Baldy Foghorn]

Absolutely- at least 100,001- I will go just to dance on their grave!!!

I would go too.....Do you want to do a gangham style gig with me, like Sparky and Spoony have been doing whilst celebrating goals? :greengrin

[essexhibee]

I will remember my 19th birthday for the rest of my life if those cheating arrogant mutants play their last game on 17th of November.

What a present it would be :greengrin

[ScottB]

I would go too.....Do you want to do a gangham style gig with me, like Sparky and Spoony have been doing whilst celebrating goals? :greengrin

Doing it Gangnam Style while Hearts die.

Imagine it haha thousands of Hibbies all doing it as one :D

[Baldy Foghorn]

Doing it Gangnam Style while Hearts die.

Imagine it haha thousands of Hibbies all doing it as one :D

Are you volunteering to co-ordinate that Scott?

[PatHead]

Aw naw. They are going to be saved.

Some fud on JKB has organised a pub quiz for Wednesday night so between that and the cake stand everything is rosy.

[jabis]

If he lets it go pop on Thursday, which will then be followed by the shortest liquidation in history, Vlad still gets his £800k does he not?

as the majority(sp at this time of night !) shareholder VR gets sod all if he accepts the offer,....as it goes to the club,....a few days from now,and VR claims the £800,000 as the major ceditor ........sorted !

[blackpoolhibs]

A simple conga next week at dens park will do me, :pray: the younger ones can do what they like. :wink:

[Suburban Hibby]

I would go too.....Do you want to do a gangham style gig with me, like Sparky and Spoony have been doing whilst celebrating goals? :greengrin

Just like State Street days, get it right round them!!!

[Baldy Foghorn]

Aw naw. They are going to be saved.

Some fud on JKB has organised a pub quiz for Wednesday night so between that and the cake stand everything is rosy.

A pub quiz for the yams, could be a very long night........No need to bring calculators for the winning points total......

[Geo_1875]

Aw naw. They are going to be saved.

Some fud on JKB has organised a pub quiz for Wednesday night so between that and the cake stand everything is rosy.

I might go along to that. Should be easy to win.

[Baldy Foghorn]

A simple conga next week at dens park will do me, :pray: the younger ones can do what they like. :wink:

Conga would be easier for me.........

[Hexham Hibee]

Look at the first ad at the foot of the page http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4635540/Its-political-football-for-angry-Elvis.html
Debt free within 36 months - great product placement!

[Monopolyguy]

Look at the first ad at the foot of the page http://www.thescottishsun.co.uk/scotsol/homepage/sport/spl/4635540/Its-political-football-for-angry-Elvis.html
Debt free within 36 months - great product placement!



There's now an advert about a 'Greener Scotland' and 'let's go Greener together' by the Scottish government. Someone must be on the the wind-up with the ads. :greengrin

[Mikey]

CWG

I think this indicates Vlad wil stump up. There is no other explanation.

He gets the deluded to contribute £2 Mill, keeps them going, he trousers the Wallace money and his loss at the end of the season is £2.8 million less, (£2 mill from the unwashed and £800,000 from Sevco), when the plug is finally pulled.

Oh, and he gets the bulk of the proceeds of the sale of PBS, whether they go into administration first, or then liquidated, because whatever way you wrap it up he owns the title deeds.

Ok, he takes a hit but hecan rent the ground back to the new Hearts at a greatly inflated rent.

Del Boy couldn't have worked it better.

Oh yes there is. Why take £500k now when you can let it all go pop on Thursday and still be owed the full £800k?

Every single penny he puts into Hearts from now on is a penny that he won't see again. They're on their own with this one.

[fatbloke]

I have just been in conversation with a real Ibrox insider. I cannot disclose his identity so please do not ask. He told me the following. Charles Green contacted Hearts and offered to pay tax bill of £450 grand or thereabouts and Mr Romanov refused the cash. Mr R is confident that the flumps will pay it and wants to keep the Sevco cash for a lated date. If this is true I have changed my stance and hope it goes bollocks skywards. Does anyone know or can anyone confirm any part of this claim?

BTW I am pissed so hope this makes sense.

[Archie70]

I think we should give Brokeback credit where its due.

They've managed to raise £2000 by digging deep, baking cakes, emptying kids piggy banks and having pub quizzes.

They only need £10 000 a day (every day) between now and the end of the season to survive.

So the £2000 hard earned cash will last them under 5 hours!

To simplify. Its just after 1 o'clock now. I'll set my alarm for 6 o'clock and wake up knowing their moneys been spent!

Keep up the good work Brokeback it's that type of attitude that helped you win World War 1.

GGTTH

PS If the team are at a loss what to do on Friday morning the could follow the example of their forefathers and go and sort out Tommy Taliban and Ally Queda!

[seanshow]

I have just been in conversation with a real Ibrox insider. I cannot disclose his identity so please do not ask. He told me the following. Charles Green contacted Hearts and offered to pay tax bill of £450 grand or thereabouts and Mr Romanov refused the cash. Mr R is confident that the flumps will pay it and wants to keep the Sevco cash for a lated date. If this is true I have changed my stance and hope it goes bollocks skywards. Does anyone know or can anyone confirm any part of this claim?

BTW I am pissed so hope this makes sense.

You are pissed as they were discussing the ins and outs of it on the radio this afternoon :greengrin

[Peevemor]

Brokeback's brilliant!

Reasonable opening post on this thread http://www.hmfckickback.co.uk/index.php?/topic/120310-back-of-a-cigarette-pack-maths/


Its november and we are struggling financially. We are looking to sell tickets for the next 3 games to cover current the immediate tax bill.

So, where are our potential revenue streams?

We will have a further 10 home games (should have at least).Not sure of exact season ticket sales, but say we sell 5000 for each @ £20, Thats £1m.
Given that wages are "over £4m" and we have 6 months to pay (including april) until we are liable to get next seasons season ticket money.
thats about £2.5m

Operating costs are about £1.5m.
Interest is about 700k..


Add in 500k of current tax bill and ignore the potential tax liability and we have £5m to pay by the end of april.
We have £1m of revenue to come in from tickets.

(I assume the share money will go to the big tax bill. - Can any lawyers let me know if its actually a legal obligation for Romanov to reinvest the Share money? Its not new shares, so people are buying shares from him AFAIK, so why are we to believe he wont say, thank you very much and take a couple of million?)

So, where is the missing £4m coming from?
Sale of assets? What assets?

Will merchandising, general fundraising and cup money cover £4m?

No.

Since Romanov took over, Every set of accounts has a operating loss of at least £7m with the exception of the year the Gordon money went in when we only made £3.5m loss. Some have been sugar coated with DFE swaps or FoD.

£4m/10000 ST holders = £400 each in the next 6 months, just to scrape by to next season, when we will still be in dire straits.

2nd post


I think player transfers (past and future) will play an important part.

:faf:

[PatHead]

I think we should give Brokeback credit where its due.

They've managed to raise £2000 by digging deep, baking cakes, emptying kids piggy banks and having pub quizzes.

They only need £10 000 a day (every day) between now and the end of the season to survive.

So the £2000 hard earned cash will last them under 5 hours!

To simplify. Its just after 1 o'clock now. I'll set my alarm for 6 o'clock and wake up knowing their moneys been spent!

Keep up the good work Brokeback it's that type of attitude that helped you win World War 1.

GGTTH

PS If the team are at a loss what to do on Friday morning the could follow the example of their forefathers and go and sort out Tommy Taliban and Ally Queda!

To be fair on them they have raised about £11,000 according to Brokeback. Still nothing like enough but they have also arranged a quiz night at a pub so that will sort it all. They have a real history of rising to the occassion though. I took this from an article on Scotland on Sunday.


"In the last league match at Tynecastle before their second relegation, Hearts were watched by just 2,400 spectators"

Not looking good for them in D3 is it? Big club, my arse

[Barney McGrew]

Just up.

Are they dead yet?

[cocopops1875]

Just up.

Are they dead yet? Sadly not but it still seems to be a "Dead Man Walking" Situation :thumbsup:

[lord bunberry]

Just up.

Are they dead yet?

Not yet but they do smell like it

[MrSmith]

So looking forward to Wednesday/Thursday of this week.Do or die as they say... Hopefully the former but they rise in the third division as the 'big team'! Don't you just love it!

[Hibernia Na Eir]

Absolutely- at least 100,001- I will go just to dance on their grave!!!

i'd prefer to pi5s on it then crap over it.

think of all the faggot Hertz people who'll sob this week......JJ, JR, A Preston, Mercer's son, G McKay, Salmond, Cardownie, Flat Eric, Child, Wee Ronnie C, I Black, C Gordon, K Black, Billy Brown (yes)......suffer you plebs:greengrin

[CyberSauzee]

It's so obvious UBIG doesn't have a pot to p!3s in at the moment.

Hearts wages not getting paid, plus the unpaid PAYE/VAT bill. There's now the unpaid wages at the basketball team and the Birac aluminium works for the past three months.

I said a few years ago Vlad reminded me of Robert Maxwell in his business operations. It appears to me that he's been moving money around his 'empire' when it's needed, but now the cash has dried up. He's not got any cash coming in from anywhere at the moment, hence the running costs not being met. If it is the end game for UBIG I don't think I would be bothering too much about a far flung football team at the other side of Europe.

[s.a.m]

Will HMRC have an opinion on Hearts knocking back the Sevco cash?

[chinaman]

the gland that is romanov will be hoping that his lithuanian slaves like the yam ******s will get their kids to give their piggy banks over for the cause. rotten , disgusting arse of a man

[Bighoose]

Have they not got a multi award winning pop star as fan? What was his name?.... Cicero?

Could he not organise a Live Aid event for them?

Get a new version of "Feed The Jambos" out in time for Christmas?

That's bound to rake in £10 to £20 at the very least....

[cad]

Im sure Hearts have plenty wealthy supporters ,I think once the dust settles and they know whats what a saviour will save them in some shape or form

[Ozyhibby]

Will HMRC have an opinion on Hearts knocking back the Sevco cash?

Absolutely they will. Anyone who has ever been late with a tax bill will tell you that they will encourage you to sell everything you own in order that they get paid.

[greenginger]

Is there a single ,sound, business reason for keeping HOMFC trading.

Any income generated will be dwarfed by the expenses of running the club until the end of the season. Vlad has all the securities in place and will be entitled to all assets of the club for the cost a liquidator fee.

Vlad is ruthless, and he is now disparate as he sees his business empire crumble. He will see every penny as a prisoner and will not be worried about any flack as it will no doubt all be the fault of the tax authorities, the SFA and the other targets of his rants.

His latest rant in the Russian papers about our referees taking bungs from Rangers and Celtic could have expected a huge SFA fine but Vlad don't care; Hearts ain't going to be there to pay any fine.

Next season Maroon Sevco will have bought the badge and history of HOMFC from Vlad ( for a lot more than the Govan lot paid ) and will start in Div3.

At least thats what I would do if I was Vlad. :greengrin

[Keith_M]

I've just thought up a new scenario.


1) Mad Vlad separates the physical assets (stadium and, ehm, ....) from the football club.

2) Sells physical assets on the open market to whoever will buy, e.g. Tesco

3) Chuckie Green buys Hearts FC, including the SPL Membership.

4) Chuckie changes the name of his current club to Glasgow Rangers, New Rangers, whatever.

5) Chuckie changes name of SPL team Hearts to Rangers and their club colours and moves them to Ibrox.

6) Chuckie takes the best of the players from each club for his SPL version and the crappiest players and reserves for his D3 version.

7) Modify the names registered as owners of each club to get around the rule on one person owning more than one senior club.


RESULT: A Rangers 1st team in the SPL, playing at Ibrox and a Rangers reserves in the D3, playing at Ibrox.

[Caversham Green]

Will HMRC have an opinion on Hearts knocking back the Sevco cash?

If they get paid they won't bother where the money comes from as long as it was raised legally and morally. I have a feeling that the reason they issued the WUP in the first place is that there was an agreement between them and the yams that the share issue would settle it - not a great business model, but it does the job. However, when the prospectus came out with no mention of the tax liability it became money raised under false pretences and HMRC could not accept that, and nor should the prospective 'investors'.

I think HoMFC see the prospective cash as a negotiating tool - 'look, we've got £800k coming in shortly, you'd be daft to wind us up now' - but they need the full £800k for any budget to the end of the season to work. If so it's a misguided policy IMO, because HMRC will realise that the money is required for purposes other than paying their dues.

Interestingly though, if HoMFC don't pay up and go into liquidation the process will probably take long enough for the full £800k to fall due. If they took the £500k now it would virtually all go to Hector but in liquidation Hector would become an unsecured creditor and see none of the £800k - that would go to the secured creditor, and we all know who that is.

As a side point, it's worth remembering that Sergejus Fedotovas is a director of UBIG - he knows exactly what the plan is even though he's claiming to be in the dark.

[euansdad]

Remember Cicero. His song was no bad, I hate myself

[Minder]

I've just thought up a new scenario.


1) Mad Vlad separates the physical assets (stadium and, ehm, ....) from the football club.

2) Sells physical assets on the open market to whoever will buy, e.g. Tesco

3) Chuckie Green buys Hearts FC, including the SPL Membership.

4) Chuckie changes the name of his current club to Glasgow Rangers, New Rangers, whatever.

5) Chuckie changes name of SPL team Hearts to Rangers and their club colours and moves them to Ibrox.

6) Chuckie takes the best of the players from each club for his SPL version and the crappiest players and reserves for his D3 version.

7) Modify the names registered as owners of each club to get around the rule on one person owning more than one senior club.


RESULT: A Rangers 1st team in the SPL, playing at Ibrox and a Rangers reserves in the D3, playing at Ibrox.


I can live with any scenario that exterminates HMFC. Can you e-mail this suggestion to Chuckie just in case he aint thought of it.:greengrin

[Mon Dieu4]

i went over there for my daily dose of hilarity, today they are back obsessed with us, we are the luckiest team ever, they have a better midfield than us, Novakiakidingdong or whatever his name is, he's a better player than Spoony, Taoul is better than Claros etc haha

least we took their minds off their impending doom for a couple of hours

[SloopJB]

i went over there for my daily dose of hilarity, today they are back obsessed with us, we are the luckiest team ever, they have a better midfield than us, Novakiakidingdong or whatever his name is, he's a better player than Spoony, Taoul is better than Claros etc haha

least we took their minds off their impending doom for a couple of hours
do they have more threads about us than we have about them?

[Keith_M]

I've just thought up a new scenario.
......
3) Chuckie Green buys Hearts FC, including the SPL Membership.
......

5) Chuckie changes name of SPL team Hearts to Rangers and their club colours and moves them to Ibrox.
........

RESULT: A Rangers 1st team in the SPL, playing at Ibrox and a Rangers reserves in the D3, playing at Ibrox.


I can live with any scenario that exterminates HMFC. Can you e-mail this suggestion to Chuckie just in case he aint thought of it.:greengrin


OK. Anyone got his E-Mail address? :greengrin

[mixumatosis]

I'm just back from ER and watching a bit of the rugby. Most of the crowd look pretty cold & hungry, like they could use some soup to warm them up...

[nonshinyfinish]

I'm just back from ER and watching a bit of the rugby. Most of the crowd look pretty cold & hungry, like they could use some soup to warm them up...

Any of them sporting poorly applied facepaint?

[WindyMiller]

If they get paid they won't bother where the money comes from as long as it was raised legally and morally. I have a feeling that the reason they issued the WUP in the first place is that there was an agreement between them and the yams that the share issue would settle it - not a great business model, but it does the job. However, when the prospectus came out with no mention of the tax liability it became money raised under false pretences and HMRC could not accept that, and nor should the prospective 'investors'.

I think HoMFC see the prospective cash as a negotiating tool - 'look, we've got £800k coming in shortly, you'd be daft to wind us up now' - but they need the full £800k for any budget to the end of the season to work. If so it's a misguided policy IMO, because HMRC will realise that the money is required for purposes other than paying their dues.

Interestingly though, if HoMFC don't pay up and go into liquidation the process will probably take long enough for the full £800k to fall due. If they took the £500k now it would virtually all go to Hector but in liquidation Hector would become an unsecured creditor and see none of the £800k - that would go to the secured creditor, and we all know who that is.

As a side point, it's worth remembering that Sergejus Fedotovas is a director of UBIG - he knows exactly what the plan is even though he's claiming to be in the dark.


:agree:

[God Petrie]

do they have more threads about us than we have about them?

We aren't on the verge of extinction to be fair

[fatbloke]

You are pissed as they were discussing the ins and outs of it on the radio this afternoon :greengrin

wiz working and missed it.

[Ozyhibby]

Be a real shame if the were to go bust while we were top of the league.

[degenerated]

Why :confused:

I've had a bellyful of Tommy Walsh's Eco-house.

[Col2]

There is a thread on kickback about Skacel. They are all getting misty eyed about him pulling pints in some hole of a pub.

They then start debating how important it is for him to return to the club at the end of Jan and even one of the deluded says "offer him what he wants, as long as get him"

They just don't get it do they? It's as if - once they get rid of this unfair and pesky tax bill (which is a disgrace they are being made to pay in a lump sum by the way) they are back on track to get a striker, Rudi and few additions in Jan.

[banchoryhibs]

They just don't get it do they? It's as if - once they get rid of this unfair and pesky tax bill (which is a disgrace they are being made to pay in a lump sum by the way) they are back on track to get a striker, Rudi and few additions in Jan.

I was speaking to one of their deluded followers at work and he just could not see that they have to live within their means. He claims that "It's ok to sign Rudi and others in January as we are trying to bring the wage bill down but need better players as the first team is *****" :jamboclow--- well that OK then isn't it.

I suggested that it would be the same if we tried to sign Messi and pay him his going rate.

They really just don't get it, absolute choobs the lot of them:lolyam:

One day very soon they will wake up and smell the coffee:thumbsup:

[Glory Lurker]

Sorry if I have missed this, but what period does the bill that they are due to pay this week cover?

[CropleyWasGod]

Sorry if I have missed this, but what period does the bill that they are due to pay this week cover?

You haven't missed anything.

HMRC won't say. Fedotovas made a vague reference the other day to "the previous quarter".... that may mean that it's VAT, but may not. :rolleyes:

[PatHead]

I was speaking to one of their deluded followers at work and he just could not see that they have to live within their means. He claims that "It's ok to sign Rudi and others in January as we are trying to bring the wage bill down but need better players as the first team is *****" :jamboclow--- well that OK then isn't it.

I suggested that it would be the same if we tried to sign Messi and pay him his going rate.

They really just don't get it, absolute choobs the lot of them:lolyam:

One day very soon they will wake up and smell the coffee:thumbsup:

Hopefully Thursday

[Glory Lurker]

Thanks. Do you think HMRC would have got to the point of a winding up order if the liability was only incurred in the last quarter?

[Kato]

Thanks. Do you think HMRC would have got to the point of a winding up order if the liability was only incurred in the last quarter?


Given their previous instances of late payment and generally tardy attitude, probably.

[CropleyWasGod]

Thanks. Do you think HMRC would have got to the point of a winding up order if the liability was only incurred in the last quarter?

If it's PAYE for the last quarter, given their recent record, yes. If it's VAT, unlikely.

However, I think that's it more likely that a payment plan that had previously been agreed has been breached.

[Glory Lurker]

Thanks, Kato, CWG.

[Bostonhibby]

Have they not got a multi award winning pop star as fan? What was his name?.... Cicero?

Could he not organise a Live Aid event for them?

Get a new version of "Feed The Jambos" out in time for Christmas?

That's bound to rake in £10 to £20 at the very least....

Could wee Ronnie Corbett no dae a wee turn for them? how about a Two Ronnies event but since the real funny talented one Ronnie Barker is sadly dead he could get Fatty Fowkes to play that role?

The two Phannies

[green glory]

Could wee Ronnie Corbett no dae a wee turn for them? how about a Two Ronnies event but since the real funny talented one Ronnie Barker is sadly dead he could get Fatty Fowkes to play that role?

The two Phannies

Or the Two Pishes.

[mrdependable]

It's so obvious UBIG doesn't have a pot to p!3s in at the moment.

Hearts wages not getting paid, plus the unpaid PAYE/VAT bill. There's now the unpaid wages at the basketball team and the Birac aluminium works for the past three months.

I said a few years ago Vlad reminded me of Robert Maxwell in his business operations. It appears to me that he's been moving money around his 'empire' when it's needed, but now the cash has dried up. He's not got any cash coming in from anywhere at the moment, hence the running costs not being met. If it is the end game for UBIG I don't think I would be bothering too much about a far flung football team at the other side of Europe.

this is the gist of the situation isnt it, it seems to me? i get the impression that Vlads whole operation is going down the tubes and hes desperately moving money around to cover the last tax bill/wages etc. in a forlorn attempt to stay afloat?

[Spike Mandela]

Jambo Ewan Murray hurting..........

“@mrewanmurray: Any 'supporter' who wishes another club shuts down should be embarrassed. Guys like the Dundee fans show how uplifting football should be.”

The response he go from a sympathetic soul, ha ha................



“@GRSmith82: @mrewanmurray I wouldn't *lose 1 min of sleep if Hearts were obliterated. **** them. I hope its a slow and very painfully extinction.”

[ScottB]

Jambo Ewan Murray hurting..........

“@mrewanmurray: Any 'supporter' who wishes another club shuts down should be embarrassed. Guys like the Dundee fans show how uplifting football should be.”

The response he go from a sympathetic soul, ha ha................



“@GRSmith82: @mrewanmurray I wouldn't *lose 1 min of sleep if Hearts were obliterated. **** them. I hope its a slow and very painfully extinction.”

I must have missed all the sympathy the Hearts fans were showing for Rangers when their club collapsed...

[YehButNoBut]

Irvine Welsh‏@WelshIrvine
Great to see that Hearts have a ticket office in Chicago :greengrin

https://pbs.twimg.com/media/A7IokKSCYAAmd_a.jpg

[WestEndHibee]

Irvine Welsh‏@WelshIrvine
Great to see that Hearts have a ticket office in Chicago :greengrin

https://pbs.twimg.com/media/A7IokKSCYAAmd_a.jpg


:top marks

[PatHead]

Excellent article in today's Herald

Whichever direction the club takes in the coming days, they will find the Russian-born businessman in the midst of the consequences. He is the owner, but also the major creditor, and so the authorities, with whatever legal powers they can wield, remain in a stand-off with Romanov, with Hearts caught in the middle.

This will have influenced HMRC's decision last week to petition the court to issue a winding-up order. The taxman is seeking to liquidate Hearts rather than put the business into administration, but there have been at least five occasions in recent years when Hearts have been late in paying tax bills. Many of them have been higher than the £450,000 currently owed, yet HMRC will have taken a strategic decision.What is the future for Hearts? There isn't one unless the club restores the balance between its costs and its revenue. The wage bill remains too high – three times already this season some staff have not been paid on time – and HMRC may have grown tired of the cycle of confrontations. They are thought to have considered trying to force Hearts into administration last season, but by seeking liquidation, they will either force Romanov's hand, bring other potential owners to the fore, or ensure that the initiative to raise money from the supporters generates enough cash. Either way, as was the case with Rangers, HMRC are ensuring they receive as much of the money that is owed to them as possible."The administration of Rangers cost around £5 million and didn't seem to add much value to creditors," said Neil Patey, a partner with accountants Ernst & Young. "A liquidation should be cheaper. A liquidator also has greater investigative and recovery powers than an administrator and so HMRC may want to get on with that now and get greater control, rather than have a costly, less controlled process first."Yet Romanov can intervene. If he paid the outstanding tax bill himself, he could then take control of the club's fate by voluntarily putting it into administration. As the major creditor, with around 75% of the club's debt, and holder of the floating charge of the club's assets, he is first in line to benefit from payments to creditors, but is also in a position to allow or deny a company voluntary arrangement (CVA) to bring Hearts back out of administration.Romanov could even end up still owning the club, if he makes an offer to the administrators that represents better value to all of the creditors than splitting up the business and selling the assets individually.

He would then have a debt-free club, albeit one fighting to survive relegation after a points deduction. Romanov is currently owed in the region of £22m, but it is unlikely he would ever realistically recoup that figure since Tynecastle – the major property asset – was last valued at around £13m and wouldn't generate much more while the property market is depressed.Hearts director Sergejus Fedotovas said of Romanov: "He still continues to support and provide. He provides guarantees for us and without him we wouldn't even have been able to start the season. In previous years, we spent a lot of money on players and this money came from Mr Romanov."The strategy was to invest in the squad and make it the strongest in Scotland. We were really close to that. We are in a position where around £20m of debt has been taken away from the balance sheet of the club by Mr Romanov. What he said is, 'I've not been able to achieve what I was aiming at, so I will not be investing more'."If Romanov cannot or will not intervene, Hearts' only hope lies in the generosity and commitment of the club's fans. Any money raised now is essentially being donated to keep the club alive. If Romanov was to then put Hearts into administration, he would receive the vast majority of any further cash raised for creditors. If he keeps the club going, while reducing costs, Hearts fans are entitled to wonder if stricter financial and corporate governance rules will be put in place to prevent this from happening again.In truth, though, they will act simply to stop the club from disappearing. Yet the problems Romanov inherited continue to restrict Hearts, since the stadium needs upgrading, but there is no financially viable way to fund it and selling the ground would mean having to build another stadium elsewhere."The only way forward is to progress with our plans for the share issue," Fedotovas said. "This club has the muscle to resolve this situation. We have seen a good response from the fans and I am still hopeful we can have dialogue with people at HMRC who will reassess the situation. By putting the club against the wall, people at HMRC either lack understanding or this is on purpose. If they don't liquidate this club they'll get £450,000 and then more in monthly payments for many years to come. So where is the logic?"Unlike Rangers' situation, where HMRC were one of the two major creditors and so had a controlling vote on the outcome of administration, the taxman has to take his chances with proceedings. Romanov is prepared to talk to potential buyers, but Hearts are in a dangerous state of limbo.

This will have influenced HMRC's decision last week to petition the court to issue a winding-up order. The taxman is seeking to liquidate Hearts rather than put the business into administration, but there have been at least five occasions in recent years when Hearts have been late in paying tax bills. Many of them have been higher than the £450,000 currently owed, yet HMRC will have taken a strategic decision.

What is the future for Hearts? There isn't one unless the club restores the balance between its costs and its revenue. The wage bill remains too high – three times already this season some staff have not been paid on time – and HMRC may have grown tired of the cycle of confrontations. They are thought to have considered trying to force Hearts into administration last season, but by seeking liquidation, they will either force Romanov's hand, bring other potential owners to the fore, or ensure that the initiative to raise money from the supporters generates enough cash. Either way, as was the case with Rangers, HMRC are ensuring they receive as much of the money that is owed to them as possible.

"The administration of Rangers cost around £5 million and didn't seem to add much value to creditors," said Neil Patey, a partner with accountants Ernst & Young. "A liquidation should be cheaper. A liquidator also has greater investigative and recovery powers than an administrator and so HMRC may want to get on with that now and get greater control, rather than have a costly, less controlled process first."

Yet Romanov can intervene. If he paid the outstanding tax bill himself, he could then take control of the club's fate by voluntarily putting it into administration. As the major creditor, with around 75% of the club's debt, and holder of the floating charge of the club's assets, he is first in line to benefit from payments to creditors, but is also in a position to allow or deny a company voluntary arrangement (CVA) to bring Hearts back out of administration.

Romanov could even end up still owning the club, if he makes an offer to the administrators that represents better value to all of the creditors than splitting up the business and selling the assets individually. He would then have a debt-free club, albeit one fighting to survive relegation after a points deduction. Romanov is currently owed in the region of £22m, but it is unlikely he would ever realistically recoup that figure since Tynecastle – the major property asset – was last valued at around £13m and wouldn't generate much more while the property market is depressed.

Hearts director Sergejus Fedotovas said of Romanov: "He still continues to support and provide. He provides guarantees for us and without him we wouldn't even have been able to start the season. In previous years, we spent a lot of money on players and this money came from Mr Romanov.
"The strategy was to invest in the squad and make it the strongest in Scotland. We were really close to that. We are in a position where around £20m of debt has been taken away from the balance sheet of the club by Mr Romanov. What he said is, 'I've not been able to achieve what I was aiming at, so I will not be investing more'."
If Romanov cannot or will not intervene, Hearts' only hope lies in the generosity and commitment of the club's fans. Any money raised now is essentially being donated to keep the club alive. If Romanov was to then put Hearts into administration, he would receive the vast majority of any further cash raised for creditors. If he keeps the club going, while reducing costs, Hearts fans are entitled to wonder if stricter financial and corporate governance rules will be put in place to prevent this from happening again.
In truth, though, they will act simply to stop the club from disappearing. Yet the problems Romanov inherited continue to restrict Hearts, since the stadium needs upgrading, but there is no financially viable way to fund it and selling the ground would mean having to build another stadium elsewhere.

"The only way forward is to progress with our plans for the share issue," Fedotovas said. "This club has the muscle to resolve this situation. We have seen a good response from the fans and I am still hopeful we can have dialogue with people at HMRC who will reassess the situation. By putting the club against the wall, people at HMRC either lack understanding or this is on purpose. If they don't liquidate this club they'll get £450,000 and then more in monthly payments for many years to come. So where is the logic?"
Unlike Rangers' situation, where HMRC were one of the two major creditors and so had a controlling vote on the outcome of administration, the taxman has to take his chances with proceedings. Romanov is prepared to talk to potential buyers, but Hearts are in a dangerous state of limbo.

[KinchHibee]

Irvine Welsh‏@WelshIrvine
Great to see that Hearts have a ticket office in Chicago :greengrin

https://pbs.twimg.com/media/A7IokKSCYAAmd_a.jpg

Off topic but the Jim Jefferies in reference in the sign is a great stand up comic.

I'd post a link but he's probably not considered family friendly :greengrin

[IberianHibernian]

Similar situation in Spain to Hearts this now . Real Oviedo a well-established club ( 86 years old ) but down in 3rd tier ( 2nd B division ) need nearly 2 million euros before 17th November to survive . Shares put on sale a week ago and already half amount needed raised including people buying from abroad ( shares available for 11 euros ) . Very well - supported club ( more than 20000 at match against Real Madrid`s 3rd team today and 5000 at a march through town before ) and lots of support from ex players ( Cazorla etc ) and well -known fans of club .

[KdyHby]

Similar situation in Spain to Hearts this now . Real Oviedo a well-established club ( 86 years old ) but down in 3rd tier ( 2nd B division ) need nearly 2 million euros before 17th November to survive . Shares put on sale a week ago and already half amount needed raised including people buying from abroad ( shares available for 11 euros ) . Very well - supported club ( more than 20000 at match against Real Madrid`s 3rd team today and 5000 at a march through town before ) and lots of support from ex players ( Cazorla etc ) and well -known fans of club .

http://www.realoviedo.es/weboficial/index.asp?Pagina=vernoticia&IdNoticia=7956

[PatHead]

At 01.39 this morning JKB had raised £11,432.79, by this evening they had raised a fantastic £12,079.12, another £646.33. Looks like their sisters have found out they are stealing the kid's Christmas money. They will never raise enough at this rate. They are doomed I tell you, doomed.

By the way, I have never used Paypal but do they charge for transferring money? If so, could donations be made that would lose Hearts money?:devil:

[cheltenhamhibee]

At 01.39 this morning JKB had raised £11,432.79, by this evening they had raised a fantastic £12,079.12, another £646.33. Looks like their sisters have found out they are stealing the kid's Christmas money. They will never raise enough at this rate. They are doomed I tell you, doomed.

By the way, I have never used Paypal but do they charge for transferring money? If so, could donations be made that would lose Hearts money?:devil:



I've just been forwarded this, hope the link works, I'd hardly use the word phenomenal !!! fuds !!! GIRFUY

http://www.hmfckickback.co.uk/index.php?app=members&module=messaging&section=view&do=showConversation&topicID=51206&st=0#msg153600

[Monopolyguy]

So was Hearts cup win tainted, or was it fair?

[Gavin1875]

At 01.39 this morning JKB had raised £11,432.79, by this evening they had raised a fantastic £12,079.12, another £646.33. Looks like their sisters have found out they are stealing the kid's Christmas money. They will never raise enough at this rate. They are doomed I tell you, doomed.

By the way, I have never used Paypal but do they charge for transferring money? If so, could donations be made that would lose Hearts money?:devil:


Thats a cracking idea!!! When Sevco were begging for money I'm sure I read somewhere that it was costing 20p to process all donations so the Celtic fans were donating 1p so they were losing 19p everytime haha

[cheltenhamhibee]

At 01.39 this morning JKB had raised £11,432.79, by this evening they had raised a fantastic £12,079.12, another £646.33. Looks like their sisters have found out they are stealing the kid's Christmas money. They will never raise enough at this rate. They are doomed I tell you, doomed.

By the way, I have never used Paypal but do they charge for transferring money? If so, could donations be made that would lose Hearts money?:devil:


http://www.youtube.com/watch?v=w7RIgs3eygo

[PatHead]

:top marks
http://www.youtube.com/watch?v=w7RIgs3eygo

[Pete]

So was Hearts cup win tainted, or was it fair?

Tainted...for several reasons.

Never let them forget.

[Spike Mandela]

Stuart Bathgate has lost the plot, today's article is just ramblings of a lost soul who doesn't know what to do.......

http://www.scotsman.com/sport/football/spl/stuart-bathgate-the-democratic-solution-for-hearts-1-2628373

[God Petrie]

Stuart Bathgate has lost the plot, today's article is just rambings of a lost soul who doesn't know what to do.......

http://www.scotsman.com/sport/football/spl/stuart-bathgate-the-democratic-solution-for-hearts-1-2628373

Hahaha what a load of nonsense.

[Springbank]

So was Hearts cup win tainted, or was it fair?

Let me put it this way:

Seven Nil - effortless
Six Two - class & style

versus

Five One - killed themselves in the process

Only one side of the Edinburgh divide knows how you do things properly, and with integrity

[s.a.m]

I opened my email account this morning, and found the following message:

sputnik,

Ulysses has sent you a new personal conversation entitled "What if this time.........".

Ulysses said:
================================================== ====================
.....we were to go down, but not be able to go back up?

Over the last few days, Hearts supporters have worried a lot about this. As you can probably guess, the club's present financial worries have been the main topic of discussion on Jambos Kickback lately.

So we decided to do our bit. We're buying JKB collective shares, and we're asking members to contribute. Maybe you don't have £110 or more to spend on buying shares yourself - or maybe you live abroad and buying shares isn't recommended. But maybe you have a few pounds available and can contribute to the Jambos Kickback collective effort.

So far, we've collected more than £13,000, and we've already passed £5,500 of that to Hearts in return for 50,000 shares. If you've already made a contribution and been a part of this phenomenal effort, thanks very much - it is hugely appreciated.

If you'd like to read more, have a look at a couple of links. This thread is about the JKB share purchase:


How the **** did this find its way to me? Has Sputnik the yam (who presumably has not yet thrown his piggy bank contents down the black hole) thieved my address? I have never even been on Kickback, let alone registered.:grr:

[Part/Time Supporter]

Stuart Bathgate has lost the plot, today's article is just rambings of a lost soul who doesn't know what to do.......

http://www.scotsman.com/sport/football/spl/stuart-bathgate-the-democratic-solution-for-hearts-1-2628373

Fedotovas obviously hasn't told them what to say this morning.

:agree:

[Mikey]

Have they paid it yet?

If not, why not? We're told they have the money.

[Twa Cairpets]

Stuart Bathgate has lost the plot, today's article is just rambings of a lost soul who doesn't know what to do.......

http://www.scotsman.com/sport/football/spl/stuart-bathgate-the-democratic-solution-for-hearts-1-2628373

Actually, it seems alright to me.

Whats up with it (aside from the fact that ignores the fact that the whole house of cards will fall), its fairly accurate in its summation of Romanov

[Alex Trager]

So how far are they from dying now? Is it still highly possible? Does it look like they are going to pay the 480K ?

[YehButNoBut]

So how far are they from dying now? Is it still highly possible? Does it look like they are going to pay the 480K ?

I have no doubt that this amount will be paid this week but it's only delaying the inevitable, as the wages still have to be paid twice before the end of the year and there is the £1.75 million tax bill to come.

That's a lot of face painting and cake baking to get close to that amount, they won't go bust this week but it's bound to happen before the end of the season. :******: :lolyam:

[Craig_in_Prague]

for those wages being delayed, the taxes on them would still be due to Inland Revenue right?

If the bigger tax case is lost, I don't think they will see xmas.

I honestly feel that they are merely trying to toddle on as they were, without any serious cuts. You don't need to enter administration to make proper cut backs. That director even talked about making the cuts in the summer, and expects the fans to support them through until then, as they want a "big club"

Still, filling the ground for a couple of games, selling cakes and soup and drinking a lot, is really going to save them eh?

LMAO

[Spike Mandela]

Watch out............

https://www.gov.uk/sortmytax

[ballengeich]

http://www.scotsman.com/sport/football/spl/hearts-players-willing-to-defer-wages-as-survival-battle-goes-on-1-2628465

They think they have a choice?

[euansdad]

Let me put it this way:

Seven Nil - effortless
Six Two - class & style

versus

Five One - killed themselves in the process

Only one side of the Edinburgh divide knows how you do things properly, and with integrity

like this:top marks:not worth

[jacomo]

Stuart Bathgate has lost the plot, today's article is just rambings of a lost soul who doesn't know what to do.......

http://www.scotsman.com/sport/football/spl/stuart-bathgate-the-democratic-solution-for-hearts-1-2628373

This suggests that Romanov got mugged by agents and players when he first arrived in Scottish football. This might explain his somewhat emotional outbursts since then.

His plans didn't add up from the start. But by 2008, even Campbell Ogilvie was talking openly about the need to balance the books. No wonder HMRC have now lost patience... this seems to be a business incapable of operating properly.

But most laughable is the idea that this share issue will offer fans any say in the running of the club. Even if fully subscribed, £1.8m will buy the fans 10%... i.e. no entitlement to sit on the Board or have any say. It values the club at £18m, which is roughly £17,999,999 too much given the level of debt. No one will ever pay that.

JKB have just thrown away £5.5k and seem willing to do more. This is a donation straight to Vlad's pocket, nothing more.

[EuanH78]

This suggests that Romanov got mugged by agents and players when he first arrived in Scottish football. This might explain his somewhat emotional outbursts since then.

His plans didn't add up from the start. But by 2008, even Campbell Ogilvie was talking openly about the need to balance the books. No wonder HMRC have now lost patience... this seems to be a business incapable of operating properly.

But most laughable is the idea that this share issue will offer fans any say in the running of the club. Even if fully subscribed, £1.8m will buy the fans 10%... i.e. no entitlement to sit on the Board or have any say. It values the club at £18m, which is roughly £17,999,999 too much given the level of debt. No one will ever pay that.

JKB have just thrown away £5.5k and seem willing to do more. This is a donation straight to Vlad's pocket, nothing more.

Actually starting to feel a wee bit sorry for some of the Yams - This is a con, spending the kids xmas money and driving themselves into debt to line the pockets of a supposed multi millionaire :bitchy:

Then again, a fool and his money and all that, plus they are mostly inbred phannies.

[surreyhibbie]

I opened my email account this morning, and found the following message:

sputnik,

Ulysses has sent you a new personal conversation entitled "What if this time.........".

Ulysses said:
================================================== ====================
.....we were to go down, but not be able to go back up?

Over the last few days, Hearts supporters have worried a lot about this. As you can probably guess, the club's present financial worries have been the main topic of discussion on Jambos Kickback lately.

So we decided to do our bit. We're buying JKB collective shares, and we're asking members to contribute. Maybe you don't have £110 or more to spend on buying shares yourself - or maybe you live abroad and buying shares isn't recommended. But maybe you have a few pounds available and can contribute to the Jambos Kickback collective effort.

So far, we've collected more than £13,000, and we've already passed £5,500 of that to Hearts in return for 50,000 shares. If you've already made a contribution and been a part of this phenomenal effort, thanks very much - it is hugely appreciated.

If you'd like to read more, have a look at a couple of links. This thread is about the JKB share purchase:


How the **** did this find its way to me? Has Sputnik the yam (who presumably has not yet thrown his piggy bank contents down the black hole) thieved my address? I have never even been on Kickback, let alone registered.:grr:

I got one as well... :greengrin

[Ozyhibby]

I got a kickback email as well. Normally I'm on kickback raving about how good Vlad is but can't bring myself to do it now that he is robbing them blind so blatantly.
I know they are Hearts supporters but this share thing is a disgrace. The club needs to be wound up now before more people get conned.

[#FromTheCapital]

Actually starting to feel a wee bit sorry for some of the Yams - This is a con, spending the kids xmas money and driving themselves into debt to line the pockets of a supposed multi millionaire :bitchy:

Then again, a fool and his money and all that, plus they are mostly inbred phannies.

:tsk tsk:

A lot of this is their fault as well. The blame does not lie completely with Romanov, if hearts fans hadn't hounded the pieman out 7 years ago they would look a lot better right now, albeit without tynecastle (*****hole anyway:greengrin). The majority of them were more than happy to take the 2 cup wins and lapped it up at the time and rubbed it in our faces so **** them. I hope their pathetic WEE club dies and I hope it dies soon. And as for spending their christmas money on worthless shares....:faf:

[Ozyhibby]

I got a kickback email as well. Normally I'm on kickback raving about how good Vlad is but can't bring myself to do it now that he is robbing them blind so blatantly.
I know they are Hearts supporters but this share thing is a disgrace. The club needs to be wound up now before more people get conned.

[JoeTortolanoFanClub]

I got a kickback email as well.

I got one too. Odd, because I thought I had been banned. But I have just checked and I am back in. I can't see myself getting any work done this afternoon now...

[Off the bar]

http://www.bbc.co.uk/sport/0/football/20298609

might as well close this thread now guys, it appears Paul Hartley has set up a fighting fund, oh well next time eh?

[theonlywayisup]

Can someone summarise the latest? Is the end near?

[Jim44]

http://www.bbc.co.uk/sport/0/football/20298609

might as well close this thread now guys, it appears Paul Hartley has set up a fighting fund, oh well next time eh?

Feathering his own nest for his job application when McGlib gets the boot. He's got a fair bit of competition in fat Robbo tho'.

[CropleyWasGod]

http://www.bbc.co.uk/sport/0/football/20298609

might as well close this thread now guys, it appears Paul Hartley has set up a fighting fund, oh well next time eh?

Shirley, this bit is wrong.....?

"Last month, Hearts invited fans to buy shares belonging to owner Vladimir Romanov in a bid to support the long-term future of the club.""

[marti1875]

http://www.bbc.co.uk/sport/0/football/20298609

might as well close this thread now guys, it appears Paul Hartley has set up a fighting fund, oh well next time eh?

I'm not believing their figures about the amount raised. On Sat i think it was, they said it was £100,000...now by 1st thing on Monday it's doubled in such a short space of time?
Nah, mind you it doesn't say the figure's exact or confirmed mind you so prob just a load of b****x.

The ex players fighting fund is just more bigging themselves up to look good in the eyes of the deluded twonks, let them all throw their money away whilst we sit back and laugh out t**s off at it all unfolding! :greengrin

[Caversham Green]

Shirley, this bit is wrong.....?

Last month, Hearts invited fans to buy shares belonging to owner Vladimir Romanov in a bid to support the long-term future of the club.

:agree: That's still appearing in various press reports - depressing when they can't get the basics right.

For the avoidance of doubt:

IT'S A NEW SHARE ISSUE.

[IWasThere2016]

:agree: That's still appearing in various press reports - depressing when they can't get the basics right.

For the avoidance of doubt:

IT'S A NEW SHARE ISSUE.

It's good money after bad :cb:

[PatHead]

Shirley, this bit is wrong.....?

"Last month, Hearts invited fans to buy shares belonging to owner Vladimir Romanov in a bid to support the long-term future of the club.""

Yip, which is why I smell a rat. He maintains that money raised will go back to the club but they are buying his shares and reducing his holding to 89%. Not even for a seat on the board.

[PatHead]

:agree: That's still appearing in various press reports - depressing when they can't get the basics right.

For the avoidance of doubt:

IT'S A NEW SHARE ISSUE.

Hearts supporter I work with is adamant that it is not a new share issue. (To be fair he isn't buying any but his son has bought £110 worth.)

[Spike Mandela]

http://www.bbc.co.uk/sport/0/football/20298609

might as well close this thread now guys, it appears Paul Hartley has set up a fighting fund, oh well next time eh?

Surely he should be concentrating on raising funds for Alloa?:confused:

[Gatecrasher]

Don't know what to make of this one :rolleyes:

http://www.scotsman.com/news/eight-year-old-fan-gives-up-christmas-present-for-hearts-1-2628755

[Spike Mandela]

Don't know what to make of this one :rolleyes:

http://www.scotsman.com/news/eight-year-old-fan-gives-up-christmas-present-for-hearts-1-2628755

As one of the comments suggest shameless PR and spin by the EN to bleed money out of the Hearts fans by supposedly tugging at their heartstrings. Disgusting.

[Caversham Green]

Hearts supporter I work with is adamant that it is not a new share issue. (To be fair he isn't buying any but his son has bought £110 worth.)

That brochure they produced is effectively a prospectus and that only happens in the case of a new issue. If it was Vlad/UBIG selling the shares the club wouldn't have produced the brochure and any offer document would have had to identify who the sellers were.

Incidentally, current shareholdings are UBIG 79%; Quantum Holdings SA 15%; Others 6%. If the offer is fully taken up (:faf:) that will change to UBIG 71%; Quantum 13.5%; Others 15.5%.

[jacomo]

That brochure they produced is effectively a prospectus and that only happens in the case of a new issue. If it was Vlad/UBIG selling the shares the club wouldn't have produced the brochure and any offer document would have had to identify who the sellers were.

Incidentally, current shareholdings are UBIG 79%; Quantum Holdings SA 15%; Others 6%. If the offer is fully taken up (:faf:) that will change to UBIG 71%; Quantum 13.5%; Others 15.5%.

Brian Kennedy bingo!

I assume this is not him, however, as I can't remember Brian announcing that he had bought a "quantum" of shares using a "quantum" of money.

[jacomo]

I'm not believing their figures about the amount raised. On Sat i think it was, they said it was £100,000...now by 1st thing on Monday it's doubled in such a short space of time?
Nah, mind you it doesn't say the figure's exact or confirmed mind you so prob just a load of b****x.

The ex players fighting fund is just more bigging themselves up to look good in the eyes of the deluded twonks, let them all throw their money away whilst we sit back and laugh out t**s off at it all unfolding! :greengrin

Wouldn't matter if they'd raised £400k over the weekend. They are still miles away.

[Eric]

That brochure they produced is effectively a prospectus and that only happens in the case of a new issue. If it was Vlad/UBIG selling the shares the club wouldn't have produced the brochure and any offer document would have had to identify who the sellers were.

Incidentally, current shareholdings are UBIG 79%; Quantum Holdings SA 15%; Others 6%. If the offer is fully taken up (:faf:) that will change to UBIG 71%; Quantum 13.5%; Others 15.5%.

So these shares on offer are authorised but unissued? If so, how many other shares do Hearts have in this category?

[clerriehibs]

That brochure they produced is effectively a prospectus and that only happens in the case of a new issue. If it was Vlad/UBIG selling the shares the club wouldn't have produced the brochure and any offer document would have had to identify who the sellers were.

Incidentally, current shareholdings are UBIG 79%; Quantum Holdings SA 15%; Others 6%. If the offer is fully taken up (:faf:) that will change to UBIG 71%; Quantum 13.5%; Others 15.5%.

You're suggesting hmfc go about their business properly. That's patently not the case.

[Caversham Green]

So these shares on offer are authorised but unissued? If so, how many other shares do Hearts have in this category?

CA2006 did away with the concept of authorised shares. I thought it was only for new companies because removing it from existing companies meant changing the Articles, but it seems all companies can now dispense with it. Many still show it in their accounts though.

[Caversham Green]

As one of the comments suggest shameless PR and spin by the EN to bleed money out of the Hearts fans by supposedly tugging at their heartstrings. Disgusting.

:agree: Putting banter aside this leaves a very nasty taste in the mouth. What's worse is that if 'Mr Romanov' does actually meet his moral obligation rather than depending on children to do it for him he'll once again be lauded as a hero by the Gorgie idiots.

[Seveno]

That brochure they produced is effectively a prospectus and that only happens in the case of a new issue. If it was Vlad/UBIG selling the shares the club wouldn't have produced the brochure and any offer document would have had to identify who the sellers were.

Incidentally, current shareholdings are UBIG 79%; Quantum Holdings SA 15%; Others 6%. If the offer is fully taken up (:faf:) that will change to UBIG 71%; Quantum 13.5%; Others 15.5%.


Quantum Holdings is the Swiss based company that someone said about a year ago had Vld had transferred the ownership of the PBS into. I suppose we can check that when we see the accounts for the last financial year !

[Moulin Yarns]

I got a kickback email as well. Normally I'm on kickback raving about how good Vlad is but can't bring myself to do it now that he is robbing them blind so blatantly.
I know they are Hearts supporters but this share thing is a disgrace. The club needs to be wound up now before more people get conned.

I've just told them to grow a pair and get rid of Romanov before asking succesful small businesses to invest :wink:

[Eric]

CA2006 did away with the concept of authorised shares. I thought it was only for new companies because removing it from existing companies meant changing the Articles, but it seems all companies can now dispense with it. Many still show it in their accounts though.

Thanks Cav. So does this mean that a company can now increase its shareholding at will without the need to go back to its shareholders for approval?

[Caversham Green]

Quantum Holdings is the Swiss based company that someone said about a year ago had Vld had transferred the ownership of the PBS into. I suppose we can check that when we see the accounts for the last financial year !

If we ever see those accounts. When they go into liquidation they won't have to produce them.

[Seveno]

If we ever see those accounts. When they go into liquidation they won't have to produce them.

I can't see how they could get them signed off by the Auditor. The Auditor has always signed them off on the basis that, whilst they are effectively trading insolvently, they have a guarantee from the parent company. Although the Auditor had no means of knowing how effective that might be.

Since the parent company have said that they will no longer provide financial support, they can't sign them off.

[Mikey]

Can we check Quantum's ownership of the PBS anywhere? There's no point in waiting for the accounts!!

We might as well do it as the kids piggy bank raiders don't like asking awkward questions.

[Caversham Green]

Thanks Cav. So does this mean that a company can now increase its shareholding at will without the need to go back to its shareholders for approval?

Companies still need a resolution to issue new shares so they do need the shareholders approval for that.

And of course, HoMFC didn't propose such a resolution as far as I'm aware. It would have been a foregone conclusion but they still should have gone through the motions. Either they've got it wrong or it's not a new issue after all - up until this moment I was absolutely sure it was. :dizzy:

[gogse]

:agree: Putting banter aside this leaves a very nasty taste in the mouth. What's worse is that if 'Mr Romanov' does actually meet his moral obligation rather than depending on children to do it for him he'll once again be lauded as a hero by the Gorgie idiots.

I to found this very hard reading.

Knowing that they could have accepted the 500,000 from Rangers and solved this (initial) problem in house.

Thereby telling the fans, we are ok just now, keep up the support but... do not to spend your Christmas money.

It truly is a sad state.

[Golden Bear]

I to found this very hard reading.

Knowing that they could have accepted the 500,000 from Rangers and solved this (initial) problem in house.

Thereby telling the fans, we are ok just now, keep up the support but... do not to spend your Christmas money.

It truly is a sad state.

:agree:

It's yet another MadVladBluff and they've fallen for it hook, line & sinker.

[Caversham Green]

I can't see how they could get them signed off by the Auditor. The Auditor has always signed them off on the basis that, whilst they are effectively trading insolvently, they have a guarantee from the parent company. Although the Auditor had no means of knowing how effective that might be.

Since the parent company have said that they will no longer provide financial support, they can't sign them off.

Correct. I think the auditors will have thought long and hard about signing off last year's accounts because by the time they were issued 'Mr Romanov' had already said he was withdrawing funding. There was a statement on the club website that backed down a bit from that stance which was obviously sufficient for the auditors, but now there is absolutely no grounds for suggesting they are a going concern even if this share issue is successful.

I don't envy Johnston Carmichael LLP one bit.

[Phil D. Rolls]

Gary MacKay has started a fighting fund with his pals. Any idea of who else might help?

8856

8855

8857

8858

[JeMeSouviens]

Knowing that they could have accepted the 500,000 from Rangers and solved this (initial) problem in house.


... but how would they make up the £300K that would lose? Even if they get through this week, it's a long road for them to the end of the season with numerous wages and tax hurdles to clear and (with any luck :wink:) HMRC's coup de grace waiting for them after the tribunal.

[matty_f]

Kudos to the systems guys in my office, they've got a collection plate set up for the Yams as well so that people in the office can contribute. It's going well so far, 6p, a screw, and a chewed pen lid in there already.

I'm going to do my bit as well, I've an empty crisp packet and some broken staples to put in later.

Fair play to them for pulling together in these difficult times.

[Saorsa]

Kudos to the systems guys in my office, they've got a collection plate set up for the Yams as well so that people in the office can contribute. It's going well so far, 6p, a screw, and a chewed pen lid in there already.

I'm going to do my bit as well, I've an empty crisp packet and some broken staples to put in later.

Fair play to them for pulling together in these difficult times.can you no put a big toly in it :greengrin

[matty_f]

can you no put a big toly in it :greengrin

Not after last time! :bitchy:

[Golden Bear]

Kudos to the systems guys in my office, they've got a collection plate set up for the Yams as well so that people in the office can contribute. It's going well so far, 6p, a screw, and a chewed pen lid in there already.

I'm going to do my bit as well, I've an empty crisp packet and some broken staples to put in later.

Fair play to them for pulling together in these difficult times.

I take it that the 6p is the total of all contributions? - surely nobody would be reckless enough to make a single contribution of 6p.

:greengrin

[matty_f]

I take it that the 6p is the total of all contributions? - surely nobody would be reckless enough to make a single contribution of 6p.

:greengrin

Hard to tell, there's a 1p and a 5p. It is possible that some of them clubbed together to raise the 5p. :agree:

I'm yet to hear if anyone is making cakes for them.

[jgl07]

I can't see how they could get them signed off by the Auditor. The Auditor has always signed them off on the basis that, whilst they are effectively trading insolvently, they have a guarantee from the parent company. Although the Auditor had no means of knowing how effective that might be.

Since the parent company have said that they will no longer provide financial support, they can't sign them off.

But Romanov announced some time ago that UBIG were no longer going to continue to bankroll Hearts, and the Auditors signed off the most recent accounts to enable Hearts to obtain a European licence for this current season

The Auditors will have questions to answer about that. They seem about as competent as Dumb and Dumber.

[Saorsa]

Not after last time! :bitchy::greengrin

[Stevie Reid]

Not after last time! :bitchy:

How about the steam off yer p!sh, Matty?

[matty_f]

How about the steam off yer p!sh, Matty?

Wouldn't give them that!

[Stevie Reid]

Wouldn't give them that!

:aok:

[Caversham Green]

But Romanov announced some time ago that UBIG were no longer going to continue to bankroll Hearts, and the Auditors signed off the most recent accounts to enable Hearts to obtain a European licence for this current season

The Auditors will have questions to answer about that. They seem about as competent as Dumb and Dumber.

Not long after that announcement and before the audited accounts were published the website carried this story http://www.heartsfc.co.uk/articles/20120316/hearts-refutes-funding-doubts_2241384_2662311 . It was almost certainly done at the request of the auditors and that (along with details confirmation of support letters I would assume) enabled them to sign the still heavily qualified audit report.

It needs to be borne in mind that HoMFC is the auditors client, so they will do as much they can to make their report as favourable as possible while still covering their own backsides. Their job was difficult last year, it looks almost impossible at the moment.

[jacomo]

Kudos to the systems guys in my office, they've got a collection plate set up for the Yams as well so that people in the office can contribute. It's going well so far, 6p, a screw, and a chewed pen lid in there already.

I'm going to do my bit as well, I've an empty crisp packet and some broken staples to put in later.

Fair play to them for pulling together in these difficult times.

Moved by the travails of our neighbours, I decided to donate all the proceeds from Saturday's peg sales. Unfortunately, the skag boat came in on Friday evening so I didn't actually leave the van on Saturday, but it's the thought that counts!

[Phil D. Rolls]

Moved by the travails of our neighbours, I decided to donate all the proceeds from Saturday's peg sales. Unfortunately, the skag boat came in on Friday evening so I didn't actually leave the van on Saturday, but it's the thought that counts!

I've heard the council are planning to raise the rents in Lochend, and put a surcharge on long term caravan pitches.

[Stevie Reid]

Moved by the travails of our neighbours, I decided to donate all the proceeds from Saturday's peg sales. Unfortunately, the skag boat came in on Friday evening so I didn't actually leave the van on Saturday, but it's the thought that counts!

Quite right. Broon comes first, man :agree:

[Broken Gnome]

Hearts Owner Romanov’s Ukio Bankas Shares Plummet on Arena Deal2012-11-12 14:34:35.497 GMTBy Bryan BradleyNov. 12 (Bloomberg) -- AB Ukio Bankas, the Lithuanian bank controlled by*Edinburgh soccer club Heart of Midlothian Plc owner Vladimir Romanov,*fell to an eight-year low on the Vilnius exchange, losing a quarter of*its value in a month.The shares fell as much as 12.4 percent*today, closing down7 percent at 0.12 euros ($0.15), the lowest sinceOct. 28, 2004,*according to data compiled by Bloomberg. Volume of 766,022 shares was 11*times the three-month daily average. The shares have lost 24.5 percent*since Oct. 10.
The decline began after the bank reported a nine-month net loss on Oct.*29, and accelerated on Nov. 6, when it said it took over a Lithuanian*sports arena developer from debtors. Swedbank changed the shares to ‘no*recommendation’ from ‘buy’ on Nov. 9, citing a lack of information about*the effect of the arena transaction. Romanov owns 64.9 percent of Ukio*Bankas shares, according to a note in the bank’s earnings report.“Investors really question the valuation of that property developer,*which is a big part of the bank’s assets, and so they don’t know how*much its equity may be worth now,” Finasta investment bank analyst Tadas*Povilauskas said by phone. “And if Romanov hasn’t rescued his soccer*club and hasn’t increased the share capital of Ukio Bankas as was*planned some time ago, it probably means he just can’t find the money.”Kaunas, Lithuania-based Ukio Bankas’s investor relations department was*unable to comment immediately on the share performance when reached by*Bloomberg, and did not answer subsequent calls over about two hours.Heart of Midlothian, which identifies Romanov as principal shareholder*on its website, said there on Nov. 7 that it had been issued with a*winding-up order by a Scottish court due to overdue tax payments of 450*million pounds ($714 million). The club is asking fans to buy shares and*tickets in order to help it avoid bankruptcy, according to an open*letter its website.--*

[GordonHFC]

Hearts Owner Romanov’s Ukio Bankas Shares Plummet on Arena Deal2012-11-12 14:34:35.497 GMTBy Bryan BradleyNov. 12 (Bloomberg) -- AB Ukio Bankas, the Lithuanian bank controlled by*Edinburgh soccer club Heart of Midlothian Plc owner Vladimir Romanov,*fell to an eight-year low on the Vilnius exchange, losing a quarter of*its value in a month.The shares fell as much as 12.4 percent*today, closing down7 percent at 0.12 euros ($0.15), the lowest sinceOct. 28, 2004,*according to data compiled by Bloomberg. Volume of 766,022 shares was 11*times the three-month daily average. The shares have lost 24.5 percent*since Oct. 10.
The decline began after the bank reported a nine-month net loss on Oct.*29, and accelerated on Nov. 6, when it said it took over a Lithuanian*sports arena developer from debtors. Swedbank changed the shares to ‘no*recommendation’ from ‘buy’ on Nov. 9, citing a lack of information about*the effect of the arena transaction. Romanov owns 64.9 percent of Ukio*Bankas shares, according to a note in the bank’s earnings report.“Investors really question the valuation of that property developer,*which is a big part of the bank’s assets, and so they don’t know how*much its equity may be worth now,” Finasta investment bank analyst Tadas*Povilauskas said by phone. “And if Romanov hasn’t rescued his soccer*club and hasn’t increased the share capital of Ukio Bankas as was*planned some time ago, it probably means he just can’t find the money.”Kaunas, Lithuania-based Ukio Bankas’s investor relations department was*unable to comment immediately on the share performance when reached by*Bloomberg, and did not answer subsequent calls over about two hours.Heart of Midlothian, which identifies Romanov as principal shareholder*on its website, said there on Nov. 7 that it had been issued with a*winding-up order by a Scottish court due to overdue tax payments of 450*million pounds ($714 million). The club is asking fans to buy shares and*tickets in order to help it avoid bankruptcy, according to an open*letter its website.--*

Jeez. They now owe £450 million :greengrin

[PatHead]

Hearts Owner Romanov’s Ukio Bankas Shares Plummet on Arena Deal2012-11-12 14:34:35.497 GMTBy Bryan BradleyNov. 12 (Bloomberg) -- AB Ukio Bankas, the Lithuanian bank controlled by*Edinburgh soccer club Heart of Midlothian Plc owner Vladimir Romanov,*fell to an eight-year low on the Vilnius exchange, losing a quarter of*its value in a month.The shares fell as much as 12.4 percent*today, closing down7 percent at 0.12 euros ($0.15), the lowest sinceOct. 28, 2004,*according to data compiled by Bloomberg. Volume of 766,022 shares was 11*times the three-month daily average. The shares have lost 24.5 percent*since Oct. 10.
The decline began after the bank reported a nine-month net loss on Oct.*29, and accelerated on Nov. 6, when it said it took over a Lithuanian*sports arena developer from debtors. Swedbank changed the shares to ‘no*recommendation’ from ‘buy’ on Nov. 9, citing a lack of information about*the effect of the arena transaction. Romanov owns 64.9 percent of Ukio*Bankas shares, according to a note in the bank’s earnings report.“Investors really question the valuation of that property developer,*which is a big part of the bank’s assets, and so they don’t know how*much its equity may be worth now,” Finasta investment bank analyst Tadas*Povilauskas said by phone. “And if Romanov hasn’t rescued his soccer*club and hasn’t increased the share capital of Ukio Bankas as was*planned some time ago, it probably means he just can’t find the money.”Kaunas, Lithuania-based Ukio Bankas’s investor relations department was*unable to comment immediately on the share performance when reached by*Bloomberg, and did not answer subsequent calls over about two hours.Heart of Midlothian, which identifies Romanov as principal shareholder*on its website, said there on Nov. 7 that it had been issued with a*winding-up order by a Scottish court due to overdue tax payments of 450*million pounds ($714 million). The club is asking fans to buy shares and*tickets in order to help it avoid bankruptcy, according to an open*letter its website.--*

Imagine Vlad overvaluing land. Bit like the piggery and speculation he doesn't have a pot to piss in. Roll on Thursday............

[HoboHarry]

Jeez. They now owe £450 million :greengrin
Wonga must have applied interest.....

[WindyMiller]

I got one as well... :greengrin


The Miller's Wife got one too.


But only because I use her e-mail address on there.


:cb

[Judas Iscariot]

Hearts Owner Romanov’s Ukio Bankas Shares Plummet on Arena Deal2012-11-12 14:34:35.497 GMTBy Bryan BradleyNov. 12 (Bloomberg) -- AB Ukio Bankas, the Lithuanian bank controlled by*Edinburgh soccer club Heart of Midlothian Plc owner Vladimir Romanov,*fell to an eight-year low on the Vilnius exchange, losing a quarter of*its value in a month.The shares fell as much as 12.4 percent*today, closing down7 percent at 0.12 euros ($0.15), the lowest sinceOct. 28, 2004,*according to data compiled by Bloomberg. Volume of 766,022 shares was 11*times the three-month daily average. The shares have lost 24.5 percent*since Oct. 10.
The decline began after the bank reported a nine-month net loss on Oct.*29, and accelerated on Nov. 6, when it said it took over a Lithuanian*sports arena developer from debtors. Swedbank changed the shares to ‘no*recommendation’ from ‘buy’ on Nov. 9, citing a lack of information about*the effect of the arena transaction. Romanov owns 64.9 percent of Ukio*Bankas shares, according to a note in the bank’s earnings report.“Investors really question the valuation of that property developer,*which is a big part of the bank’s assets, and so they don’t know how*much its equity may be worth now,” Finasta investment bank analyst Tadas*Povilauskas said by phone. “And if Romanov hasn’t rescued his soccer*club and hasn’t increased the share capital of Ukio Bankas as was*planned some time ago, it probably means he just can’t find the money.”Kaunas, Lithuania-based Ukio Bankas’s investor relations department was*unable to comment immediately on the share performance when reached by*Bloomberg, and did not answer subsequent calls over about two hours.Heart of Midlothian, which identifies Romanov as principal shareholder*on its website, said there on Nov. 7 that it had been issued with a*winding-up order by a Scottish court due to overdue tax payments of 450*million pounds ($714 million). The club is asking fans to buy shares and*tickets in order to help it avoid bankruptcy, according to an open*letter its website.--*

Vlad is well ****ed...

In turn they are well ****ed...

Hahaha

[jacomo]

I've heard the council are planning to raise the rents in Lochend, and put a surcharge on long term caravan pitches.

:grr:

They'll be charging me for electricity next! :wink:

[HoboHarry]

Apologies if this has been asked before, but if they fail to pay the bill on Thursday, what will the process be after that? How long will it take to liquidate them?

[CropleyWasGod]

Apologies if this has been asked before, but if they fail to pay the bill on Thursday, what will the process be after that? How long will it take to liquidate them?

A liquidator will be appointed, possibly that same day.

The liquidation process itself may take a while. If some of the rumours about moving property around have substance, the liquidator could be very busy. IIRC, the Airdrie one took years.

[Col2]

Would assume liquidators appoint bailiffs and doors are closed immediately, staff sent home etc.

On another point, if Vlad has the cash and confidence amongst the yams is high the bill will be paid, why hasn't he just paid it? Surely can't be to squeeze every penny out of the fans first? Even I think that's a disgrace!!

[HoboHarry]

A liquidator will be appointed, possibly that same day.

The liquidation process itself may take a while. If some of the rumours about moving property around have substance, the liquidator could be very busy. IIRC, the Airdrie one took years.
But as a football club, will the doors close immediately?

[Part/Time Supporter]

Apologies if this has been asked before, but if they fail to pay the bill on Thursday, what will the process be after that? How long will it take to liquidate them?

Presumably they would argue in court that they should be given more time. The judge would then have to decide whether to grant the petition, appointing a provisional liquidator, or to allow them an additional period.

[CropleyWasGod]

But as a football club, will the doors close immediately?

Probably. Although the liquidator may take the view that there is some cash to be squeezed out of Saturday's game.

[HoboHarry]

Probably. Although the liquidator may take the view that there is some cash to be squeezed out of Saturday's game.
Fair enough, thank you. Don't begin to understand all this stuff.

[jacomo]

Would assume liquidators appoint bailiffs and doors are closed immediately, staff sent home etc.

On another point, if Vlad has the cash and confidence amongst the yams is high the bill will be paid, why hasn't he just paid it? Surely can't be to squeeze every penny out of the fans first? Even I think that's a disgrace!!

To be fair, this happens very rarely with football clubs, doesn't it?

[JeMeSouviens]

Probably. Although the liquidator may take the view that there is some cash to be squeezed out of Saturday's game.

If the tickets are sold, the cash has already been squeezed, no?

[jgl07]

Probably. Although the liquidator may take the view that there is some cash to be squeezed out of Saturday's game.

Will the Police and security company provide cover without the prospect of being paid? If not then the match could not take place.

What happens if they run out of cards for the electricity meter at half time?

The who question is if Romanov will not pay or is unable to pay?

[s.a.m]

Regardless of what happens with any liquidation process, would be allowed to continue in the league if they were liquidated?

[PatHead]

But as a football club, will the doors close immediately?

Lets hope so and its

:bye::bye:

followed by

:partyhibb:partyhibb

until

:drunk:

[Mikey]

What's happening with the money they're raising? Is it just being piled into share purchases?

It would be funny as fek if they raised enough to pay the bill, gave it to Vlad, and he did a runner with it :greengrin

[PatHead]

Regardless of what happens with any liquidation process, would be allowed to continue in the league if they were liquidated?

Can't see how, they wouldn't be trading.

[CropleyWasGod]

If the tickets are sold, the cash has already been squeezed, no?

I would wager that there would be an extra few thousand on the gate if they thought it was the very last game at Tynie.

Then there's the souvenir Vlad masks and plastic submarines that will be on sale.....

[Seveno]

It really concerns me that barns will go without Christmas parents as their Yam parents pour their money into the PBS money pit. I think that we should raise money to buy them presents in the true Christian spirit.


And just think of the timely revenue boost for the Hibs shop. :greengrin

[Phil D. Rolls]

What's happening with the money they're raising? Is it just being piled into share purchases?

It would be funny as fek if they raised enough to pay the bill, gave it to Vlad, and he did a runner with it :greengrin

Can't see Mr. Romanov doing that. :fibber: :whistle:

This just in, 1984 The Director's Cut, by George Orwell



Some of the animals had noticed that the man supposed to be rescuing them drove a car marked Vilnius Taxi Company,’ and had actually jumped to the conclusion their money was being sent to the Lithuania It was almost unbelievable, said Shaun Lawson, that any animal could be so stupid.

Surely, he cried indignantly, whisking his tail and skipping from side to side, surely they knew their beloved Leader, Comrade Romanov, better than that? But the explanation was really very simple. The car had previously been the property of Vilnius Taxi Company, and had been bought by Save Our Hearts, who had not yet painted the old name out. That was how the mistake had arisen.

The animals were enormously relieved to hear this. And when Lawson went on to give further graphic details of the Jambos death-bed, the admirable care they had received, and the expensive tax lawyers for which Romanov had paid without a thought as to the cost, their last doubts disappeared and the sorrow that they felt for their club's death was tempered by the thought that at least it had died as the Big Team.