Share Transfers Agreed/Cooling off period

[greenginger]

As I am sure you know a M.O.U. has no legal basis otherwise it would be a contract.

With a M.O.U. either, or any, party can walk away with probably no consequence.

Beat me to it,


http://people.howstuffworks.com/memorandum-of-understanding.htm

M O U's " generally not legally binding .... and don't involve the exchange of money "

[TrinityHibs]

If the freezer is switched off and Fanco get the shares/buy Homofc and then pass them on to Budgie will there be any tax due or is she merely controlling the assets by way of security so title/ownership would always stay with the fannies? I am sure its been said that they will be transferred to her. I have to admit I don't really follow all of this.

[Gus Fring]

As I am sure you know a M.O.U. has no legal basis otherwise it would be a contract.

With a M.O.U. either, or any, party can walk away with probably no consequence.

If they are worded correctly they can be legally challenged if the terms are not met but most of the time they aren't.

[CropleyWasGod]

If the freezer is switched off and Fanco get the shares/buy Homofc and then pass them on to Budgie will there be any tax due or is she merely controlling the assets by way of security so title/ownership would always stay with the fannies? I am sure its been said that they will be transferred to her. I have to admit I don't really follow all of this.

No tax due as there won't be any gain.

The title does move, though.

There may be Stamp Duty due by Budgie.... leave the lawyers to confirm that or otherwise.

[Gus Fring]

During Bryan Jacksons alleged jaunt to lithuania to sit in a waiting room ahead of a meeting that isn't suppose to be happening for another month, David Southern has extended Billy Browns contract again

[CropleyWasGod]

During Bryan Jacksons alleged jaunt to lithuania to sit in a waiting room ahead of a meeting that isn't suppose to be happening for another month, David Southern has extended Billy Browns contract again

You're such a stirrer. :greengrin

[Mikey]

The Tweets from Ian Murray are very interesting. He repeatedly makes it clear that once they get the shares that BIDCO will be running the club and any and all decisions will be made by them.

He also revealed the agreement for UBIG to transfer the shares is in the form of a MOU (Memorandum of Understanding). Without seeing the wording of the document and the terms agreed nobody can be sure whether the FOH would have any legal recourse if that agreement is not honoured.

The fans are delighted at the news that £1 Million has been raised but they are missing that the club won't be fan owned for years yet. At the very least they are subsidising Anne Budge and letting her play a real life game of Football Manager. When she's finished it won't have cost her a penny.

Make no mistake, Murray has confirmed today that fan ownership is still a long way off. Hearts are being bought and being run by a wealthy woman for the next several years. Fan ownership will only happen if the business is sustainable for the next 5 years! They've well and truly moved the goalposts.

Wealthy enough to pay the small businesses and charities bumped by the club you would think. That might restore a little goodwill.

[Weststandwanab]

Beat me to it,


http://people.howstuffworks.com/memorandum-of-understanding.htm

M O U's " generally not legally binding .... and don't involve the exchange of money " Except the legal fees for doing so !


If they are worded correctly they can be legally challenged if the terms are not met but most of the time they aren't. I have been party to 17, 9 of which did not happen for various reasons and not 1 was challenged legally by any party


You're such a stirrer. :greengrin Just stating facts but on the same wave length.

[greenginger]

Wealthy enough to pay the small businesses and charities bumped by the club you would think. That might restore a little goodwill.


Budge does not get a mention in the Times Rich List and it goes down to folks with a miserable £ 47 million. :greengrin

[greenginger]

No tax due as there won't be any gain.

The title does move, though.

There may be Stamp Duty due by Budgie.... leave the lawyers to confirm that or otherwise.

£ 2.5 million for the real estate could cost Bidco 1874, 4% Stamp Duty Land Tax which is £ 100,000.

But, seeing as she is buying HOMFC shares for £1 , it might just be the share transaction value that is taxed.

Looks like the tax-man will get shafted again.

[Ozyhibby]

Budge does not get a mention in the Times Rich List and it goes down to folks with a miserable £ 47 million. :greengrin

There are people a lot wealthier than that who are not on that list.

[CropleyWasGod]

£ 2.5 million for the real estate could cost Bidco 1874, 4% Stamp Duty Land Tax which is £ 100,000.

But, seeing as she is buying HOMFC shares for £1 , it might just be the share transaction value that is taxed.

Looks like the tax-man will get shafted again.

The property isn't changing hands, so there will be no SDLT.

[greenginger]

There are people a lot wealthier than that who are not on that list.


Budge is quite high profile so if she had the dosh she would be in it.

[Kaiser1962]

Is that not because UKIO are agreeing the CVA with Hearts and are UBIG's biggest creditor? So...

UBIG will transfer the shares to UKIO
UKIO will transfer the shares to FANCO
FANCO will transfer the shares to BIDCO

Manoeuvres like that are exactly why assets are frozen during criminal investigations.

I would guess that any criminal investigation would be very interested in the "debt forgiveness" of £16.7m Hearts received so that they could lodge a profit of £540k over two seasons. More debt forgiveness of £2m around 2006, some dodgy looking inter co invoice to Kaunas, £22m of debt for equity and some unclear company links to Milston and Quantum springing to mind, over and above the debts to UBIG and UKIO that we do know about.

I would imagine all this will have to be answered before the freezer can be turned off.
I still regard Portsmouth as the benchmark.

[worcesterhibby]

Is it just me or does the fact that FOH seem to make 99% of their communications by Twitter, make them seem incredibly unprofessional ? In my experience, well run organisations use Twitter as a marketing tool to spread the word/vibe about new products…they don't use it to convey financial and strategic information….amateurs

[Kato]

UBIG will transfer the shares to UKIO
UKIO will transfer the shares to FANCO
FANCO will transfer the shares to BIDCO


Wonder if Mrs Bidco was pally with Mr UBIG before Mr UBIG ran away?

[JimBHibees]

The balance sheet:

CREDIT

5-1

DEBIT

Loss of rep through bumping:
taxpayer
local business
reg charities (inc poppy foundation)
Loss of rep through cheating:
financial doping
signing players, not paying wages
Administration and 15 point deduction
Signing ban
Relegation
Liquidation
Loss of stadium
Lowland League status

Superb. :not worth

[Sergey]

I've just read through the FoH Tweets from earlier today and there's one belter when the FoH were asked about the creditors meeting. "The end of March" was the reply.

Given today is the 21st February and 30 days notice has to be given, they really are hanging on every word from a statement that was made by the UBIG admins when pressed by BDO at approximately the time of the CVA meeting.

There is no immediate rush for this to be pushed through in Lithuania and the Ukio & UBIG administrators are under political pressure to call this right. It's also up to the members of the creditors committee to accept any proposal, not the administrators themselves.

[Mikey]

I still regard Portsmouth as the benchmark.

:agree:

[Kato]

I've just read through the FoH Tweets from earlier today and there's one belter when the FoH were asked about the creditors meeting. "The end of March" was the reply.

Given today is the 21st February and 30 days notice has to be given, they really are hanging on every word from a statement that was made by the UBIG admins when pressed by BDO at approximately the time of the CVA meeting.

There is no immediate rush for this to be pushed through in Lithuania and the Ukio & UBIG administrators are under political pressure to call this right. It's also up to the members of the creditors committee to accept any proposal, not the administrators themselves.

"End of February" rings a bell from last month. They're just messing around, aren't they.

[Geo_1875]

Budge does not get a mention in the Times Rich List and it goes down to folks with a miserable £ 47 million. :greengrin

The company sold for £40m she got £25m. Don't know how much she's got left. Hopefully had a whack invested in RBS.

[Iggy Pope]

As I am sure you know a M.O.U. has no legal basis otherwise it would be a contract.

With a M.O.U. either, or any, party can walk away with probably no consequence.


Except the legal fees for doing so !

I have been party to 17, 9 of which did not happen for various reasons and not 1 was challenged legally by any party

Just stating facts but on the same wave length.


I get battered by some of the expertise on this thread and I am grateful that there are people out there willing to share their considerable nous, but is anyone listening to you?

[Ozyhibby]

I get battered by some of the expertise on this thread and I am grateful that there are people out there willing to share their considerable nous, but is anyone listening to you?

I am

[CropleyWasGod]

I am

Me too.

The collective intelligence on this board, on a range of subjects, is staggering at times.

And watch that turning up on Kickback :-)





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[Iggy Pope]

I am

Good show. I thought for a minute he was maybe banging at the door of an empty hoose.

[Weststandwanab]

£ 2.5 million for the real estate could cost Bidco 1874, 4% Stamp Duty Land Tax which is £ 100,000.

But, seeing as she is buying HOMFC shares for £1 , it might just be the share transaction value that is taxed.

Looks like the tax-man will get shafted again. H.M.R.C. are not getting shafted they can, if the so wish, attempt to collect Stamp Duty at 0.5% of the transaction value which I presume is £1. On the other hand 0.5% of £50,000 is probably worth collecting....just.


There are people a lot wealthier than that who are not on that list. Indeed there are even in Edinburgh.


Budge is quite high profile so if she had the dosh she would be in it. I will try again the £40m sale price will be reduced by Legal costs, Capital Gains Tax on the Capital Profit, and the borrowings she had to buy out her partner prior to the sale of the Company all of which will equate to a lot less than £25m.


Is it just me or does the fact that FOH seem to make 99% of their communications by Twitter, make them seem incredibly unprofessional ? In my experience, well run organisations use Twitter as a marketing tool to spread the word/vibe about new products…they don't use it to convey financial and strategic information….amateurs Excuse the pun but tweeting is cheap.


I've just read through the FoH Tweets from earlier today and there's one belter when the FoH were asked about the creditors meeting. "The end of March" was the reply.

Given today is the 21st February and 30 days notice has to be given, they really are hanging on every word from a statement that was made by the UBIG admins when pressed by BDO at approximately the time of the CVA meeting.

There is no immediate rush for this to be pushed through in Lithuania and the Ukio & UBIG administrators are under political pressure to call this right. It's also up to the members of the creditors committee to accept any proposal, not the administrators themselves. To achieve end of March the notice that the freezer is opening needs to be in the next ten days.

[GRANTON_HIBS]

She looks like Russell from Rules of Engagement.

She kinda does!!:wink:

[brog]

I've just read through the FoH Tweets from earlier today and there's one belter when the FoH were asked about the creditors meeting. "The end of March" was the reply.

Given today is the 21st February and 30 days notice has to be given, they really are hanging on every word from a statement that was made by the UBIG admins when pressed by BDO at approximately the time of the CVA meeting.

There is no immediate rush for this to be pushed through in Lithuania and the Ukio & UBIG administrators are under political pressure to call this right. It's also up to the members of the creditors committee to accept any proposal, not the administrators themselves.

IIRC the original statement said the meeting was provisionally scheduled to be held by the end of March. I'm sure I posted at that time that from my experience of working in Eastern Europe, provisional meetings more often than not just did not happen. As you say they now have effectively one week to schedule the meeting otherwise we're into April! :greengrin

[Mikey]

IIRC the original statement said the meeting was provisionally scheduled to be held by the end of March. I'm sure I posted at that time that from my experience of working in Eastern Europe, provisional meetings more often than not just did not happen. As you say they now have effectively one week to schedule the meeting otherwise we're into April! :greengrin

It won't be long before May starts getting a mention.

[Ronniekirk]

IIRC the original statement said the meeting was provisionally scheduled to be held by the end of March. I'm sure I posted at that time that from my experience of working in Eastern Europe, provisional meetings more often than not just did not happen. As you say they now have effectively one week to schedule the meeting otherwise we're into April! :greengrin

Over the past few weeks the implied messages coming out of Tynie is that April was likely to be the month before it was sorted .So will be interesting to see how long it takes for April to become May :wink:

[Jack Hackett]

It won't be long before May starts getting a mention.

He's already been mentioned as a target post admin...you know...when they're debt-free :greengrin








I'll get my coat..........

[Dashing Bob S]

God I love this thread so much!

AND...as difficult as it is to imagine, I predict I'm going to love it even more over the next fortnight!

[Dashing Bob S]

There's something fishy about those shares. http://www.youtube.com/watch?v=bmTxB5nXlzk

[Sergey]

It won't be long before May starts getting a mention.

June will see them 12 months into administration - that's a far cry from being out of admin by Christmas and debt free.

They're clinging to a creditors meeting that is outwith their control and the key players are holed-up in Lithuania/Bosnia/Russia/Ukraine.

Ironic that the Hearts players who gave their lives for the freedom of our country and their team, are now staring into the abyss, praying that Eastern Europe now rescues them from complete and utter annihilation.

Top banana.

[s.a.m]

Just saw Mrs Budge driving away from the PBS car park 10 minutes ago.

No idea what she was doing there, but canny miss her in her £100K Bentley with the personalised plates.

Was it purple?

[greenginger]

Was it purple?


No, it was a metallic blue/grey. At least the plate number was'nt 15

[greenginger]

It won't be long before May starts getting a mention.


How long was it before Jackson said the money would run out ?

It was posted that they can't sell season tickets until they are out of admin. Budge won't open her purse until she gets her paws on the assets, that leaves FoH to keep the lights on.

Will they hand over their D. D. nest egg ?

[Sergey]

How long was it before Jackson said the money would run out ?

It was posted that they can't sell season tickets until they are out of admin. Budge won't open her purse until she gets her paws on the assets, that leaves FoH to keep the lights on.

Will they hand over their D. D. nest egg ?

IIRC - it was the end of March, which is five weeks away on my calendar.

The FoH will have to keep the club afloat...which could go the same as that share issue they launched = supporters money never seen again.

I typed that with a touch of sadness :fibber:

[Gus Fring]

How long was it before Jackson said the money would run out ?

It was posted that they can't sell season tickets until they are out of admin. Budge won't open her purse until she gets her paws on the assets, that leaves FoH to keep the lights on.

Will they hand over their D. D. nest egg ?

As discussed before that's incredibly unlikely. Now that the FOH plan has been revealed to everyone it's clear they won't be able to use the money to fund the club until they have taken over. It would technically violate the terms of FOH agreement as well.

I assume the money situation is looking better given Mr Struggling has been given yet another reprieve.

[Ronniekirk]

As discussed before that's incredibly unlikely. Now that the FOH plan has been revealed to everyone it's clear they won't be able to use the money to fund the club until they have taken over. It would technically violate the terms of FOH agreement as well.

I assume the money situation is looking better given Mr Struggling has been given yet another reprieve.

Its hard to see the financial logic now in keeping him on Do they really believe having him there is going to be the key driving force that can take them to the playoff position when he couldn't master mind holding on to the ball for two minutes at end of caley thistle game .

[#FromTheCapital]

There's something fishy about those shares. http://www.youtube.com/watch?v=bmTxB5nXlzk

:top marksComedy gold, Someone should edit that video so there's a hearts badge in place of the cat.

[The Harp Awakes]

While there is an MOU in place with UBIG to transfer the shares, I understand a key concern of BDO/FOH/BIDCO is that UBIG administrators may up their price. Apparently the transfer price is not cast in stone.

[monktonharp]

After his electorate deserting him in the last election and the independence vote coming soon I imagine he's keeping as low a profile as possible. Indeed it is more likely the SNP have him bound and gagged, locked in a cupboard with two armed guards outside the door.
you'll have to explain that point a bit more, Jack. don't suggest that the coming referendum is a vote for the SNP or Cardownie. it is a simple : do you think Scotland should be an independent country? yes/no. so let's keep things simple and downright honest, despite your political leanings.:wink:

[HUTCHYHIBBY]

She kinda does!!:wink:

I see what you did there! :greengrin

[hibs0666]

Salmond is a heart's waannksttain, no?

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[hibs0666]

Canny beat chicken donner and skinny fries

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[monktonharp]

Salmond is a heart's waannksttain, no?

Sent from my HTC One using Tapatalkhe may well be, but what's that got to do with the buses going up the mound?

[Weststandwanab]

I get battered by some of the expertise on this thread and I am grateful that there are people out there willing to share their considerable nous, but is anyone listening to you? I have no idea, what do you think ?


I am I appreciate that

[Leishy1995]

I thought billy brown wasn't getting paid or are even Hearts not that daft?

[Weststandwanab]

I thought billy brown wasn't getting paid or are even Hearts not that daft?
Brown is not that daft.

[Joe6-2]

IIRC the original statement said the meeting was provisionally scheduled to be held by the end of March. I'm sure I posted at that time that from my experience of working in Eastern Europe, provisional meetings more often than not just did not happen. As you say they now have effectively one week to schedule the meeting otherwise we're into April! :greengrin

Can meeting go ahead if only a provisional date?

[Mikey]

Can meeting go ahead if only a provisional date?

No.

After the last delay in November/December we were told the meeting would probably take place in Q1 of 2014. At which point the Yams assumed that meant early January (meaning they would be out of admin during the transfer window and would stock up on players they couldn't afford) but so far we've heard nothing.

[weonlywon6-2]

at what point do they have to be out of admin to avoid a points deduction next season,anyone know???

[nribs]

at what point do they have to be out of admin to avoid a points deduction next season,anyone know???
Is there a thought that if they are still in admin they may try and make the point that they shouldn't be punished again as it's still the same admin process they are going through?

[CropleyWasGod]

at what point do they have to be out of admin to avoid a points deduction next season,anyone know???

The start of the season

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[greenginger]

As discussed before that's incredibly unlikely. Now that the FOH plan has been revealed to everyone it's clear they won't be able to use the money to fund the club until they have taken over. It would technically violate the terms of FOH agreement as well.

I assume the money situation is looking better given Mr Struggling has been given yet another reprieve.

If/when Mrs Budge gets her feet under the desk at the PBS I am certain Brian Cormack will be brought in as an FoH rep. director, maybe Garry Halliday as well.

Cormack is not going to let his opportunity slip by telling Budge to use her own money to bridge any funding gap.

There is something that has not seemed quite right from the time Mackie and Ford quit FoH last November to the sudden change from Budge being FoH funder in chief to being outright Yam owner.

Did it take Budge a year plus to decide the original FoH plan was not to her liking ? More than likely she just let the Merricks get their pledges up and running before announcing the real plan.

My suspicious mind tells me Cormack has been party to this plan for a long time, but it has been kept quiet until it is too late for any Plan B.

I would love to know if there was any business connection between Budge and Cormack before the Great Fan Movement was put in motion. Anyone know of any links ?

I am sure the Fannies would be interested !

[Saorsa]

Is there a thought that if they are still in admin they may try and make the point that they shouldn't be punished again as it's still the same admin process they are going through?It disnae matter what sort of pathetic point they try tae make because it'll be wrong. If they're still in admin come the start of next season they'll get the points deduction, it's the rules and they'll pay the penalty. Any garbage they come out with will make nae difference.

[weonlywon6-2]

The start of the season

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cheers,hoping it was sooner than that

[Matty_Jack04]

Could someone explain to me how the FOH can be sorting out the CVA to take control of the club and then announce that in actual fact bidco will be running things for several years but the same CVA proposal stands? I'm not quite grasping this part

[CropleyWasGod]

Could someone explain to me how the FOH can be sorting out the CVA to take control of the club and then announce that in actual fact bidco will be running things for several years but the same CVA proposal stands? I'm not quite grasping this part

It would appear, although nothing has been confirmed, that FOH will buy the shares through the CVA. Almost immediately, the shares will be transferred to BIDCO. They will operate the company until the Diddies can afford to. ...

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[Eyrie]

It would appear, although nothing has been confirmed, that FOH will buy the shares through the CVA. Almost immediately, the shares will be transferred to BIDCO. They will operate the company until the Diddies can afford to. ...

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That would be never then.

Budge has a good track record as a businesswoman, so she will run the Yams within their budget which will hinder their chances of promotion. And the longer they stay in the "Championship", the more DDs will be cancelled and the harder it will be for the remaining Save Hearts In Trouble members to raise enough money to buy her out. After all, why should they give a multi-millionaire their hard earned money when their club is already safe?

[Matty_Jack04]

It would appear, although nothing has been confirmed, that FOH will buy the shares through the CVA. Almost immediately, the shares will be transferred to BIDCO. They will operate the company until the Diddies can afford to. ...

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Thanks CWG, are the admins in Lithuanian going to stand for that? What I mean is with ubig abstaining is there a possibility that the public knowledge that budge being wealthier and heading bidco that it could endanger the CVA agreement?

[CropleyWasGod]

Thanks CWG, are the admins in Lithuanian going to stand for that? What I mean is with ubig abstaining is there a possibility that the public knowledge that budge being wealthier and heading bidco that it could endanger the CVA agreement?

One can live in hope ;-)

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[Weststandwanab]

No.

After the last delay in November/December we were told the meeting would probably take place in Q1 of 2014. At which point the Yams assumed that meant early January (meaning they would be out of admin during the transfer window and would stock up on players they couldn't afford) but so far we've heard nothing.If they are to make Q1 this year the meeting will need to be arranged, and appropriate notice given, in the next ten days.


That would be never then.

Budge has a good track record as a businesswoman, so she will run the Yams within their budget which will hinder their chances of promotion. And the longer they stay in the "Championship", the more DDs will be cancelled and the harder it will be for the remaining Save Hearts In Trouble members to raise enough money to buy her out. After all, why should they give a multi-millionaire their hard earned money when their club is already safe? I have to agree with this being a likely outcome providing the big L is avoided.

[Bostonhibby]

That would be never then.

Budge has a good track record as a businesswoman, so she will run the Yams within their budget which will hinder their chances of promotion. And the longer they stay in the "Championship", the more DDs will be cancelled and the harder it will be for the remaining Save Hearts In Trouble members to raise enough money to buy her out. After all, why should they give a multi-millionaire their hard earned money when their club is already safe?



An important point and the reason my family yam happily announced he'd cancelled his DD before xmas because by then, in his mind "they" had already saved the club for the fans. I couldn't really be bothered talking to him about it because of his starting point in the debate.

[The Falcon]

If they are to make Q1 this year the meeting will need to be arranged, and appropriate notice given, in the next ten days.

I have to agree with this being a likely outcome providing the big L is avoided.

Would I be right in thinking that even if the meeting takes place, and they give the plan the proverbial rubber stamp, it is only then the process will hit the Lithuanian courts? And by some of the posts, in particular referring to Pompey, this may prove to be the most difficult, not to say lengthy, process to overcome?

[jacomo]

That would be never then.

Budge has a good track record as a businesswoman, so she will run the Yams within their budget which will hinder their chances of promotion. And the longer they stay in the "Championship", the more DDs will be cancelled and the harder it will be for the remaining Save Hearts In Trouble members to raise enough money to buy her out. After all, why should they give a multi-millionaire their hard earned money when their club is already safe?

Indeed. Why would the fans pay someone else to be in charge?

[Weststandwanab]

Would I be right in thinking that even if the meeting takes place, and they give the plan the proverbial rubber stamp, it is only then the process will hit the Lithuanian courts? And by some of the posts, in particular referring to Pompey, this may prove to be the most difficult, not to say lengthy, process to overcome?I have no knowledge of Lithuanian law but based on similar laws here you are correct any decision to surrender the frozen shares would need court approval and as such could be subject to objections by creditors. I would imagine if there are any suspicions of illegalities then it could easily be delayed or, as is the case with Portsmouth, still frozen - now more than two years later.

Remember that 28 days notice period of any creditors meeting needs to be given so, at best, the rubber stamp could be used at the earliest by 25th March and only after that happened could they Lithuanian Admins apply for a court date to do attempt to do what I describe above.

I would wager now it would be April at the earliest before a Lithuanian Court will hear the arguments as to why the fridge door should be opened.

Any takers ?

After all that there would be a 28 day cooling off period before the C.V.A. takes effect and that could be in May.

I still say the big L has nowhere near been defeated yet.

[lapsedhibee]

I still say the big L has nowhere near ben defeated yet.
I'm sure I saw a picture of Satchel making a sign for it, on his forehead, and he knows what's what so there must still be a good chance.

[Jack]

you'll have to explain that point a bit more, Jack. don't suggest that the coming referendum is a vote for the SNP or Cardownie. it is a simple : do you think Scotland should be an independent country? yes/no. so let's keep things simple and downright honest, despite your political leanings.:wink:

I'm English and will be voting for an independent Scotland, a big YES from me. My political leanings are probably left of centre with absolutely no alignment to any party. Indeed I wouldn't trust any party and have found most politicians to be ****holes who are only interested in themselves.

Cardownie is probably distancing himself from Tynecastle at the moment as part of his political self preservation. I would suggest his previous yamrants ahead of the last election caused much more damage than he thought.

No matter that a sizeable proportion of the electorate are able to separate the SNP from the independence vote I reckon the SNP will not want one of their main figureheads attracting any sort of publicity that may detract from their raison d'être.

Bare in mind too that this figurehead was previously a figurehead for the pro-union Labour Party.

I might not be the only one who thinks his defection to the SNP was as a flag of convenience to further personal ambitions.

As for Labour lining up behind the yams I'll say this. The Pee'r of the Realm can't help himself, rent a gob. And there's Ian "Don't you know I'm a MP? Murray. TBH before this, no, nobody knew he was a MP apart from his mum. I would suggest the advice he took before taking this 'independent' role was at best ill -conceived.

Hope this clears things up monktonharp :-)

[Mikey]

I'm sure there's a Scottish Independence thread somewhere else :wink:

[Weststandwanab]

I'm English and will be voting for an independent Scotland, a big YES from me. My political leanings are probably left of centre with absolutely no alignment to any party. Indeed I wouldn't trust any party and have found most politicians to be ****holes who are only interested in themselves.

Cardownie is probably distancing himself from Tynecastle at the moment as part of his political self preservation. I would suggest his previous yamrants ahead of the last election caused much more damage than he thought.

No matter that a sizeable proportion of the electorate are able to separate the SNP from the independence vote I reckon the SNP will not want one of their main figureheads attracting any sort of publicity that may detract from their raison d'être.

Bare in mind too that this figurehead was previously a figurehead for the pro-union Labour Party.

I might not be the only one who thinks his defection to the SNP was as a flag of convenience to further personal ambitions.

As for Labour lining up behind the yams I'll say this. The Pee'r of the Realm can't help himself, rent a gob. And there's Ian "Don't you know I'm a MP? Murray. TBH before this, no, nobody knew he was a MP apart from his mum. I would suggest the advice he took before taking this 'independent' role was at best ill -conceived.

Hope this clears things up monktonharp :-)

What a fantastic post.

May I, as a Yes voting Scot, thank you for voting Yes ?

[CyberSauzee]

Thanks CWG, are the admins in Lithuanian going to stand for that? What I mean is with ubig abstaining is there a possibility that the public knowledge that budge being wealthier and heading bidco that it could endanger the CVA agreement?

You've hit the nail on the head MJ. And that's why BJ is in Lith land.

[Dashing Bob S]

you'll have to explain that point a bit more, Jack. don't suggest that the coming referendum is a vote for the SNP or Cardownie. it is a simple : do you think Scotland should be an independent country? yes/no. so let's keep things simple and downright honest, despite your political leanings.:wink:

National or party political concerns have never prevented SC from jumping on a bandwagon and it's a bit of stretch to suggest that this leopard has changed his spots and embraced noble restraint for the common good, simply because he's ditched Labour for the SNP.

I reckon he's scented disaster from the off in this one.

[The Informer]

http://i60.tinypic.com/27xp5hg.jpg

It's a LOAN, NOT an investment

So it's a pledge of £1,000 per fan for the next five years.

There's a cat in hells chance of that happening.

'Tynecastle No More' - 'Premiership No More' -

8,000 prayer mats required soon.

Granny Budge will have sussed the FOH throbbers and will sell her shares to anybody in a couple of years from now to get her loan back.

It will all end in tears.

[Mikey]

http://i60.tinypic.com/27xp5hg.jpg

It's a LOAN, NOT an investment

So it's a pledge of £1,000 per fan for the next five years.

There's a cat in hells chance of that happening.

'Tynecastle No More' - 'Premiership No More' -

8,000 prayer mats required soon.

Granny Budge will have sussed the FOH throbbers and will sell her shares to anybody in a couple of years from now to get her loan back.

It will all end in tears.

Welcome :greengrin

Haven't you got a match to go to :wink:

[CropleyWasGod]

http://i60.tinypic.com/27xp5hg.jpg

It's a LOAN, NOT an investment

So it's a pledge of £1,000 per fan for the next five years.

There's a cat in hells chance of that happening.

'Tynecastle No More' - 'Premiership No More' -

8,000 prayer mats required soon.

Granny Budge will have sussed the FOH throbbers and will sell her shares to anybody in a couple of years from now to get her loan back.

It will all end in tears.

Who's Ian Mcleod? (apart from irrelevant :greengrin)

And, are you saying that 8,000 of them are going to embrace a new owner from an Islamic republic?? :cb

[Killiehibbie]

The start of the season

Sent from my GT-I9100 using Tapatalk
When date this season end and next season start?

[Mikey]

Who's Ian Mcleod? (apart from irrelevant :greengrin)


I was wondering that too. Perhaps just someone else who has extremely shiny buttons on his jacket and gets a free scran at hospitality every fortnight :dunno:

[CropleyWasGod]

When date this season end and next season start?

The last whistle of the last game, and the first whistle of the first game :greengrin

Not very helpful, I know, but them's the rules.

[CyberSauzee]

All this talk of the Yams and Plan B is highly accurate from what I've heard.

Ben Drew is releasing an album in support of their attempts to save their shambles of a club: 'The Defacation of Gary Locke'.

[Ozyhibby]

It would appear, although nothing has been confirmed, that FOH will buy the shares through the CVA. Almost immediately, the shares will be transferred to BIDCO. They will operate the company until the Diddies can afford to. ...

Sent from my GT-I9100 using Tapatalk

I'm beginning to see why the Lithuanians froze the shares. Before you know it you would not know who owned what.

[Dashing Bob S]

I have no knowledge of Lithuanian law but based on similar laws here you are correct any decision to surrender the frozen shares would need court approval and as such could be subject to objections by creditors. I would imagine if there are any suspicions of illegalities then it could easily be delayed or, as is the case with Portsmouth, still frozen - now more than two years later.

Remember that 28 days notice period of any creditors meeting needs to be given so, at best, the rubber stamp could be used at the earliest by 25th March and only after that happened could they Lithuanian Admins apply for a court date to do attempt to do what I describe above.

I would wager now it would be April at the earliest before a Lithuanian Court will hear the arguments as to why the fridge door should be opened.

Any takers ?

After all that there would be a 28 day cooling off period before the C.V.A. takes effect and that could be in May.

I still say the big L has nowhere near been defeated yet.

I think these are sound assumptions but I would argue that the big L is still the likeliest outcome.

I think the shares have to be obtained from the courts before the rubber stamping, or they would probably have already been rubber stamped. With Budge becoming involved the Lith creditors might indeed decide to up their asking price if they have the legal latitude to do this (and we know by virtue the MOU that they almost certainly do. But while this is a fun notion, it's pretty academic without the shares.

When the UBIG/UKIOS admins go to the court and ask them to release the shares, compromising their criminal investigation, what are they going to tell them? 'We want to give the shares to FOH who will transfer them to a company called BIDCO who will, between 3-5 years give them to a company called FANCO, provided FANCO have the money, otherwise they go to a private individual.' Not inspiring when you consider why the shares are frozen by the courts in the first place.

[CropleyWasGod]

I'm beginning to see why the Lithuanians froze the shares. Before you know it you would not know who owned what.

That's one of the reasons.

The other is that, if there is any value (in any of the UBIG assets), it can be recovered (for the creditors or the State) more easily.

[Mikey]

That's one of the reasons.

The other is that, if there is any value (in any of the UBIG assets), it can be recovered (for the creditors or the State) more easily.

And as Matty Jack 04 alluded to, if the Administrators in Lithuania get a sniff of someone with Budgie's personal wealth getting the club on the cheap they are likely to be looking for more than the £2.5m loose change she's got down the back of the sofa.

The CVA has only been agreed in principle. They can move the goalposts if they feel they're being shafted.

Which they are.

[Weststandwanab]

I'm beginning to see why the Lithuanians froze the shares. Before you know it you would not know who owned what. That is exactly why they were frozen.


I think these are sound assumptions but I would argue that the big L is still the likeliest outcome.

I think the shares have to be obtained from the courts before the rubber stamping, or they would probably have already been rubber stamped. With Budge becoming involved the Lith creditors might indeed decide to up their asking price if they have the legal latitude to do this (and we know by virtue the MOU that they almost certainly do. But while this is a fun notion, it's pretty academic without the shares.

When the UBIG/UKIOS admins go to the court and ask them to release the shares, compromising their criminal investigation, what are they going to tell them? 'We want to give the shares to FOH who will transfer them to a company called BIDCO who will, between 3-5 years give them to a company called FANCO, provided FANCO have the money, otherwise they go to a private individual.' Not inspiring when you consider why the shares are frozen by the courts in the first place. DBS I was convinced that the big L was the most likely outcome until Budge pitched up at the PBS showing her hand no I have down graded me expectations to highly possible.

[Killiehibbie]

The last whistle of the last game, and the first whistle of the first game :greengrin

Not very helpful, I know, but them's the rules.So a club could, if it was possible in the limited time, enter and exit admin during the close season suffering no points deduction?

[CropleyWasGod]

And as Matty Jack 04 alluded to, if the Administrators in Lithuania get a sniff of someone with Budgie's personal wealth getting the club on the cheap they are likely to be looking for more than the £2.5m loose change she's got down the back of the sofa.

The CVA has only been agreed in principle. They can move the goalposts if they feel they're being shafted.

Which they are.

They may, of course, demand that those same goalposts be sold, since they may not be required next season :greengrin

[CropleyWasGod]

So a club could, if it was possible in the limited time, enter and exit admin during the close season suffering no points deduction?

Yep.

It would be possible, but probably only through what used to be called a "pre-pack" administration. I think they're out of favour at the moment, but basically that's when there is already a buyer lined up, and the CVA can be pushed through relatively quickly.

[Dashing Bob S]

That is exactly why they were frozen.

DBS I was convinced that the big L was the most likely outcome until Budge pitched up at the PBS showing her hand no I have down graded me expectations to highly possible.

I'm still going with most likely as I can't see her presence as a factor in obtaining the shares, still the biggest immediate danger to Hearts, and one that gets more pressing every day. The only way I can see Budge becoming a factor would be if she was daft enough to see this 'rubber stamping' period as interim with defined time limits and sub them to keep them going till next season - and she ain't.

Which is a shame as I'd love to see them struggle on with this terrible mess of a business model. Ironically, I think liquidation, though it would involve a long inglorious slog through the leagues and probable loss of the PBS, might galvanize and unify the club, whereas this CVA is recipe for disunity and in-fighting and permanent mediocrity.

[Ozyhibby]

I'm still going with most likely as I can't see her presence as a factor in obtaining the shares, still the biggest immediate danger to Hearts, and one that gets more pressing every day. The only way I can see Budge becoming a factor would be if she was daft enough to see this 'rubber stamping' period as interim with defined time limits and sub them to keep them going till next season - and she ain't.

Which is a shame as I'd love to see them struggle on with this terrible mess of a business model. Ironically, I think liquidation, though it would involve a long inglorious slog through the leagues and probable loss of the PBS, might galvanize and unify the club, whereas this CVA is recipe for disunity and in-fighting and permanent mediocrity.

The club would be dead. Who knows how a new club would behave.

[Jack Hackett]

Yep.

It would be possible, but probably only through what used to be called a "pre-pack" administration. I think they're out of favour at the moment, but basically that's when there is already a buyer lined up, and the CVA can be pushed through relatively quickly.

In your opinion, would this be a likely scenario for 'The' Rangers', given that they probably don't actually have much in the way of debt?

[Weststandwanab]

I'm still going with most likely as I can't see her presence as a factor in obtaining the shares, still the biggest immediate danger to Hearts, and one that gets more pressing every day. The only way I can see Budge becoming a factor would be if she was daft enough to see this 'rubber stamping' period as interim with defined time limits and sub them to keep them going till next season - and she ain't.

Which is a shame as I'd love to see them struggle on with this terrible mess of a business model. Ironically, I think liquidation, though it would involve a long inglorious slog through the leagues and probable loss of the PBS, might galvanize and unify the club, whereas this CVA is recipe for disunity and in-fighting and permanent mediocrity.I agree about BUD61E funding but with no security she is not going to do that .

Your last paragraph is very profound but I tend to agree with it

[CropleyWasGod]

In your opinion, would this be a likely scenario for 'The' Rangers', given that they probably don't actually have much in the way of debt?


If I understand the Rangers situation correctly, (as you say) they haven't run up debt, they have just run out of money. In that scenario, I'm not sure why they would go into administration. Administration is, amongst other things, a means of shedding debt.

IMO, a "pre-pack" or the like is less likely than a selling of the assets in the same way that they were before. In that situation, I wouldn't expect the same knock-down price; the IPO investors would out too much pressure on for that to happen.

[Eyrie]

And as Matty Jack 04 alluded to, if the Administrators in Lithuania get a sniff of someone with Budgie's personal wealth getting the club on the cheap they are likely to be looking for more than the £2.5m loose change she's got down the back of the sofa.

The CVA has only been agreed in principle. They can move the goalposts if they feel they're being shafted.

Which they are.

They've shafted themselves by not insisting that the security over the PBS be called in and the ground sold to help repay the debt.

[CropleyWasGod]

They've shafted themselves by not insisting that the security over the PBS be called in and the ground sold to help repay the debt.

They still have that option.

[Jack]

If I understand the Rangers situation correctly, (as you say) they haven't run up debt, they have just run out of money. In that scenario, I'm not sure why they would go into administration. Administration is, amongst other things, a means of shedding debt.

IMO, a "pre-pack" or the like is less likely than a selling of the assets in the same way that they were before. In that situation, I wouldn't expect the same knock-down price; the IPO investors would out too much pressure on for that to happen.

Could it be a vehicle for shedding other stuff like expensive managerial and player contracts ... and probably some other stuff too?

[Jack Hackett]

If I understand the Rangers situation correctly, (as you say) they haven't run up debt, they have just run out of money. In that scenario, I'm not sure why they would go into administration. Administration is, amongst other things, a means of shedding debt.

IMO, a "pre-pack" or the like is less likely than a selling of the assets in the same way that they were before. In that situation, I wouldn't expect the same knock-down price; the IPO investors would out too much pressure on for that to happen.

Thanks. I still have a feeling something underhand is in the offing, but that might just be my natural distaste for all things Sevco :greengrin

[CropleyWasGod]

Could it be a vehicle for shedding other stuff like expensive managerial and player contracts ... and probably some other stuff too?

Don't know about that. The lawyers on here will have a better idea, but IIRC TUPE rules allow those individuals to transfer their contracts if they want.

[hibees 7062]

I thought billy brown wasn't getting paid or are even Hearts not that daft?

I heard they're both struggling :wink:

[Jack Hackett]

BTW Crops.....I had a look at the keechboak thread mirroring this one this morning, and noticed one of the yams stated that you had made over 1,400 posts on this thread. I've had a search here to see where it was possible to obtain this info and can't find any way of doing that other than physically counting

Now that's what I call obsession :lolyam:

[Nando™]

BTW Crops.....I had a look at the keechboak thread mirroring this one this morning, and noticed one of the yams stated that you had made over 1,400 posts on this thread. I've had a search here to see where it was possible to obtain this info and can't find any way of doing that other than physically counting

Now that's what I call obsession :lolyam:

Where it says 'Replies' to this thread on the main board, click the number, it tells you how many posts by each member.

[Famous Fiver]

Confined to home after surgery so no Killie for me today.
One thing that gets me is that Massone offered £4 mill and was told to bolt. Ann Budge gets the whole kit and caboodle for nowt ( remember she gets her £2.5 mill back.) She gets to play Championship Manager for up to five years with a 'real' club for free. Have I got that wrong?

[Saorsa]

Where it says 'Replies' to this thread on the main board, click the number, it tells you how many posts by each member.I'm in position no.

http://suzannerbanks.files.wordpress.com/2013/12/7seven.jpg

[O'Rourke3]

All this talk of the Yams and Plan B is highly accurate from what I've heard.

Ben Drew is releasing an album in support of their attempts to save their shambles of a club: 'The Defacation of Gary Locke'.

:applause:

[Gus Fring]

Confined to home after surgery so no Killie for me today.
One thing that gets me is that Massone offered £4 mill and was told to bolt. Ann Budge gets the whole kit and caboodle for nowt ( remember she gets her £2.5 mill back.) She gets to play Championship Manager for up to five years with a 'real' club for free. Have I got that wrong?

Massone apparently wasn't able to provide proof of funding. It also doesn't matter whether Budge is getting her money back or not. BDO don't have to name the highest bidder they have to ensure the continued survival of the company. Selling to Massone would have been very difficult to explain given his history.

[Jack Hackett]

Where it says 'Replies' to this thread on the main board, click the number, it tells you how many posts by each member.

You learn something new every day :thumbsup:

I need 50 more posts today to get into the top 20....as long as clerriehibs doesn't get out of bed :greengrin

[CropleyWasGod]

Confined to home after surgery so no Killie for me today.
One thing that gets me is that Massone offered £4 mill and was told to bolt. Ann Budge gets the whole kit and caboodle for nowt ( remember she gets her £2.5 mill back.) She gets to play Championship Manager for up to five years with a 'real' club for free. Have I got that wrong?

IF she gets her money back, she doesn't own the club.

If she ends up owning the club, it's cost her £2.5m, plus the other £1m she's putting up, less whatever is repaid to her.

[Aldo]

I'm in position no.

Aye but according to Brokeback you are a sad individual that sits behind a keyboard all day. (Or words similar. Their wors not mine mind. ;-)

[Saorsa]

Aye but according to Brokeback you are a sad individual that sits behind a keyboard all day. (Or words similar. Their wors not mine mind. ;-)I dinnae think they said anything as polite as that. :greengrin

Like I give a **** what they roasters think anyway.

[Aldo]

I dinnae think they said anything as polite as that. :greengrin Like I give a **** what they roasters think anyway.

They didn't I was trying to be nice!!!

I've know you long enough to know you don't gie a flying **** what anyone thinks... Let alone those roasters

[Just Alf]

They didn't I was trying to be nice!!!

I've know you long enough to know you don't gie a flying **** what anyone thinks... Let alone those roasters


THATS exactly why I've told my daughter to stay clear of anyone with a square chin, stubble an smokin' a pipe, especially if they're wearing a Stetson and a Hibs scarf..... If he happens to be eating something in the Persevere etc wi' horns sticking oot of it, she's to start running for the hills!

[Weststandwanab]

They've shafted themselves by not insisting that the security over the PBS be called in and the ground sold to help repay the debt. BDO could still do that now.


Could it be a vehicle for shedding other stuff like expensive managerial and player contracts ... and probably some other stuff too? It most certainly could.


Don't know about that. The lawyers on here will have a better idea, but IIRC TUPE rules allow those individuals to transfer their contracts if they want.You can TUPE over but cannot be forced to do so.


Confined to home after surgery so no Killie for me today.
One thing that gets me is that Massone offered £4 mill and was told to bolt. Ann Budge gets the whole kit and caboodle for nowt ( remember she gets her £2.5 mill back.) She gets to play Championship Manager for up to five years with a 'real' club for free. Have I got that wrong? The Italian Stallion could, or would, not provide proof of funding.

[Aldo]

THATS exactly why I've told my daughter to stay clear of anyone with a square chin, stubble an smokin' a pipe, especially if they're wearing a Stetson and a Hibs scarf..... If he happens to be eating something in the Persevere etc wi' horns sticking oot of it, she's to start running for the hills!

Ha ha. I remember him when he was a wee laddie. 85/86. Long time ago.

[Ozyhibby]

Where it says 'Replies' to this thread on the main board, click the number, it tells you how many posts by each member.

Oops, I'm higher than is healthy for someone with no inside info or legal/accountancy expertise.
I just really hate the yams and have a lot of time on my hands.
:-)

[Saorsa]

Ha ha. I remember him when he was a wee laddie. 85/86. Long time ago.As interesting as I am :greengrin can we get this thread back on topic auld yin :wink:

[Aldo]

As interesting as I am :greengrin can we get this thread back on topic auld yin :wink:

:-)

[sleeping giant]

Where it says 'Replies' to this thread on the main board, click the number, it tells you how many posts by each member.

On the largest thread in the history of Hibs.net (i assume) i have a grand total of 3 posts .:greengrin

[Jack Hackett]

On the largest thread in the history of Hibs.net (i assume) i have a grand total of 3 posts .:greengrin

LTYF!


:greengrin

[sleeping giant]

LTYF!


:greengrin

:agree:
Baws !! I've had a good innings :greengrin

[Jack Hackett]

:agree:
Baws !! I've had a good innings :greengrin

....but you've doubled your meltdown posts in one day...so we'll keep you on probation :spammy:

[FranckSuzy]

I'm in position no.

http://suzannerbanks.files.wordpress.com/2013/12/7seven.jpg

:not worth :faf:

[Gus Fring]

Reported Attendance Today - 15,801

Actual Attendance Today - 13,961

[Thecat23]

What are the chances of "good news" in some sort of form to come out of that hole on Monday.

After a defeat they always come out with something to keep the twats interested.

[Kato]

What are the chances of "good news" in some sort of form to come out of that hole on Monday.

After a defeat they always come out with something to keep the twats interested.




RUBBER STAMP IS BEING INKED IN LITHUNIA
should be ready within six to eight weeks

By Barry Anderson 24.2.14

News coming out of Lithuania states that a rubber stamp, thought to be the one required to release Hearts shares (which aren't frozen) to FoH (who aren't really buying them)

A source close to the rubbber stamp said, "I definitely saw a rubber st................"

blah blah, stall, nonsense, double talk, crap

[portycabbage]

I see Budge has found a new idea for getting funds in, without putting her purple clad hand in her pocket or relying on DDs from S.H.I.T.-

http://news.stv.tv/scotland/265050-man-wearing-purple-gloves-in-post-office-robbery-in-edinburgh/

[GreenLake]

What are the chances of "good news" in some sort of form to come out of that hole on Monday.

After a defeat they always come out with something to keep the twats interested.

The Secret Order of the Twirling Fisters will meet to conjure up a positive news story.

[Dashing Bob S]

The Secret Order of the Twirling Fisters will meet to conjure up a positive news story.

The only positive option they will have is to say that there is no news. And they won't have that for long.

[truehibernian]

The only positive option they will have is to say that there is no news. And they won't have that for long.

But Bob, Locke today lauded his young starlets saying they've become men this season - no one seems to be thinking of the children anymore, that's my worry. Might phone Childline and the Health and Safety Executive such are my concerns.

I've not seen such flagrant child exploitation since I studied the Industrial Revolution of the 1830's !

[GreenLake]

The only positive option they will have is to say that there is no news. And they won't have that for long.

The old saying that "no news is good news" is really good news for us rather than them. :agree:

[Jack Hackett]

The only positive option they will have is to say that there is no news. And they won't have that for long.

As of 10 mins from now, they will have 5 days to announce a meeting in March, given the 30 day notification rule....

[Www1875hfc]

What happened to the clubs that were giving the yams a £1 for every away puddle drinker that attended?

They still doing it or what?

[#FromTheCapital]

What happened to the clubs that were giving the yams a £1 for every away puddle drinker that attended?

They still doing it or what?

Na they've stopped doing it now. Probably because hearts fans have finally realised their down now and can't be bothered either way.

[Phil D. Rolls]

But Bob, Locke today lauded his young starlets saying they've become men this season - no one seems to be thinking of the children anymore, that's my worry. Might phone Childline and the Health and Safety Executive such are my concerns.

I've not seen such flagrant child exploitation since I studied the Industrial Revolution of the 1830's !

Health and Safety? It's PC gone mad, as Locke is now happy to admit.

Next Week. The Championship - Half Way to the Championsleague.

[brog]

Love this quote from JKB Meltdown. A financially refreshed Hearts, should be able to offer better terms than all but 3 or 4 teams!! That has to be the worst euphemism ever. Financially refreshed = cheating, thieving, charity robbing, non tax paying, whining Yams!

[Www1875hfc]

Love this quote from JKB Meltdown. A financially refreshed Hearts, should be able to offer better terms than all but 3 or 4 teams!! That has to be the worst euphemism ever. Financially refreshed = cheating, thieving, charity robbing, non tax paying, whining Yams!

Picked this wee gem up from over the road.

I think they're the ones who need a reality check. The crowds at Celtic Park have absolutely plummeted, they were knocked out of both cups at home and with a larger, more valuable squad than any other team by some distance. Regardless of whether they admit or not, they have missed the Hun badly; a pretty sad state if affairs as their existence seems to revolve around the presence of another club. IMO, there has been a positive change in Scottish football with the introduction of playoffs, league restructuring (albeit at the lower levels) and a recognition by clubs that they have to live within their means. In the long-term I think the health of Hearts, Dundee Utd, Motherwell etc will actually be better than the OF as the Hun are in big trouble again and Celtic are going nowhere. We'll get our finances sorted, have sound financial management and will look to build the club in a sensible, sustained manner. So, in 5 years time when Celtic Park is virtually empty as their fans will have lost interest and they're failing to attract the players they used to, Hearts will have the last laugh.

Unbelievable Jeff. :cb

[Jack Hackett]

Picked this wee gem up from over the road.

I think they're the ones who need a reality check. The crowds at Celtic Park have absolutely plummeted, they were knocked out of both cups at home and with a larger, more valuable squad than any other team by some distance. Regardless of whether they admit or not, they have missed the Hun badly; a pretty sad state if affairs as their existence seems to revolve around the presence of another club. IMO, there has been a positive change in Scottish football with the introduction of playoffs, league restructuring (albeit at the lower levels) and a recognition by clubs that they have to live within their means. In the long-term I think the health of Hearts, Dundee Utd, Motherwell etc will actually be better than the OF as the Hun are in big trouble again and Celtic are going nowhere. We'll get our finances sorted, have sound financial management and will look to build the club in a sensible, sustained manner. So, in 5 years time when Celtic Park is virtually empty as their fans will have lost interest and they're failing to attract the players they used to, Hearts will have the last laugh.

Unbelievable Jeff. :cb

Aye...no mention of the number of season tickets they sell or the income from the CL. Wonder how hertz are going to come up with that kind of dosh?

.....apart from in their deluded dreams

[EastCalderHibby]

I see Budge has found a new idea for getting funds in, without putting her purple clad hand in her pocket or relying on DDs from S.H.I.T.-

http://news.stv.tv/scotland/265050-man-wearing-purple-gloves-in-post-office-robbery-in-edinburgh/

or this guy to the rescue 12075 wee giro here and thier :greengrin

[EastCalderHibby]

Picked this wee gem up from over the road.

I think they're the ones who need a reality check. The crowds at Celtic Park have absolutely plummeted, they were knocked out of both cups at home and with a larger, more valuable squad than any other team by some distance. Regardless of whether they admit or not, they have missed the Hun badly; a pretty sad state if affairs as their existence seems to revolve around the presence of another club. IMO, there has been a positive change in Scottish football with the introduction of playoffs, league restructuring (albeit at the lower levels) and a recognition by clubs that they have to live within their means. In the long-term I think the health of Hearts, Dundee Utd, Motherwell etc will actually be better than the OF as the Hun are in big trouble again and Celtic are going nowhere. We'll get our finances sorted, have sound financial management and will look to build the club in a sensible, sustained manner. So, in 5 years time when Celtic Park is virtually empty as their fans will have lost interest and they're failing to attract the players they used to, Hearts will have the last laugh.

Unbelievable Jeff. :cb

:faf::faf::faf::faf::faf::faf::faf::faf::faf:

[Phil D. Rolls]

Love this quote from JKB Meltdown. A financially refreshed Hearts, should be able to offer better terms than all but 3 or 4 teams!! That has to be the worst euphemism ever. Financially refreshed = cheating, thieving, charity robbing, non tax paying, whining Yams!

It's on a par with "special relationship" and "famous old club".

[Dashing Bob S]

Love this quote from JKB Meltdown. A financially refreshed Hearts, should be able to offer better terms than all but 3 or 4 teams!! That has to be the worst euphemism ever. Financially refreshed = cheating, thieving, charity robbing, non tax paying, whining Yams!

A 'financially refreshed Hearts' sounds a bit like a 'teacher training qualified paedophile.'

[Greentinted]

Financial refreshing = Money laundering

No change there then; crooked, thieving, cheating low-life!

[Ozyhibby]

Statement from Bidco

http://www.foundationofhearts.org/statement-from-bidco/

[Ozyhibby]

@The_FOH: BDO are attempting to secure movement in LTN in terms of UBIG to allow a Creditors Meeting to take place. That will require 30 days notice.

[CropleyWasGod]

Statement from Bidco

http://www.foundationofhearts.org/statement-from-bidco/

Can't see anything fundamentally different from the FOH statement. Indeed, it's dated the 14th.

[Mon Dieu4]

@The_FOH: BDO are attempting to secure movement in LTN in terms of UBIG to allow a Creditors Meeting to take place. That will require 30 days notice.

Im attempting to ride Mila Kunis

[Mikey]

@The_FOH: BDO are attempting to secure movement in LTN in terms of UBIG to allow a Creditors Meeting to take place. That will require 30 days notice.

That'll be why Jackson was in Lithuania.

Yet they tell us everything is falling into place. Problem is, it'll fall apart before the meeting takes place.


:cheerio:

[Bostonhibby]

That'll be why Jackson was in Lithuania.

Yet they tell us everything is falling into place. Problem is, it'll fall apart before the meeting takes place.


:cheerio:

:agree: allisbarry, and moving towards being slightly less complex by the look of it.

Tick tock.

[RIP Bestie]

Im attempting to ride Mila Kunis
brilliant. Near masel

[greenpaper55]

That'll be why Jackson was in Lithuania.

Yet they tell us everything is falling into place. Problem is, it'll fall apart before the meeting takes place.


:cheerio:

Very true :thumbsup:

[Gus Fring]

Rubber Stamp not working?

[TrinityHibs]

Im attempting to ride Mila Kunis

That'll take more than 30 days notice. Mind you probably happen quicker than than Joey getting hold of the shares

[Dashing Bob S]

Unless something tangible comes from Jackson's visit- 1. News that Lith admins have obtained shares from Lith courts, 2. A date set for creditors meeting, there is absolutely no reason for him to go there unless it's negative news. And we shall soon know by the announcement or absence of those factors.

[Mikey]

Rubber Stamp not working?

Rubber Ducked I would suggest.

[Ozyhibby]

Unless something tangible comes from Jackson's visit- 1. News that Lith admins have obtained shares from Lith courts, 2. A date set for creditors meeting, there is absolutely no reason for him to go there unless it's negative news. And we shall soon know by the announcement or absence of those factors.

Assuming he is back now and there has been no progress then it's likely that the trip was a wasted effort.

[Dashing Bob S]

Assuming he is back now and there has been no progress then it's likely that the trip was a wasted effort.

I'm betting that he was there to try and circumvent further bad news. And failing.

Next week is going to be be a belter. They have five days to announce the date of a creditors meeting to be out of admin before April. I don't think they are going to give us the date when the CVA can be 'rubber stamped'.

Does anybody think they will?

[grunt]

@The_FOH: BDO are attempting to secure movement in LTN in terms of UBIG to allow a Creditors Meeting to take place. That will require 30 days notice.

What's he doing in Luton?

[ManBearPig]

Im attempting to ride Mila Kunis

hahaha that's brilliant!! :-D

[Col2]

@The_FOH: @craigmcnhibs very much down to issues in Lithuania. Working with different legal system.

@craigmcnhibs: @The_FOH surely someone can give a time frame? Is it just the creditors meeting or Lithuanian courts still involved? Appreciate your reply.

@The_FOH: @craigmcnhibs both, court needs to approve UBIG creditors list, then creditors meeting. HMFC v small part of big web.

Funny how its allverycomplex again and not rubber stamping...

30 days notice AND legal timescale to process paperwork out of admin. Assumes meeting will take place soon (no evidence of this), assumes the right result (no certainty) and assumes no legal barrier or appeals (no evidence this will be the case).

Today will be the start of the expectation management. As someone else said next week will be interesting. Wonder when Brian is back....

[Hibernianinc]

I'm betting that he was there to try and circumvent further bad news. And failing.

Next week is going to be be a belter. They have five days to announce the date of a creditors meeting to be out of admin before April. I don't think they are going to give us the date when the CVA can be 'rubber stamped'.

Does anybody think they will?

Not a chance Bob.

However, I expect there to be quite a bit of "big news" next week, that will all focus on what great stuff is just round the corner for the biggest movement in scottish football.

There is likely to be little actual substance to these tales, and some might call them 'diversions', but not our pink chums, they'll be delighted with everything and us wee teamers will be seething.

[Sergey]

@The_FOH: @craigmcnhibs very much down to issues in Lithuania. Working with different legal system.

@craigmcnhibs: @The_FOH surely someone can give a time frame? Is it just the creditors meeting or Lithuanian courts still involved? Appreciate your reply.

@The_FOH: @craigmcnhibs both, court needs to approve UBIG creditors list, then creditors meeting. HMFC v small part of big web.

Funny how its allverycomplex again and not rubber stamping...

30 days notice AND legal timescale to process paperwork out of admin. Assumes meeting will take place soon (no evidence of this), assumes the right result (no certainty) and assumes no legal barrier or appeals (no evidence this will be the case).

Today will be the start of the expectation management. As someone else said next week will be interesting. Wonder when Brian is back....

And there's absolutely nothing that anyone inside the PBS can do to speed up the process and the above pretty much mirrors what I said the minute they entered administration.

[Col2]

And funny... Not a single reference on kickback. More relevant for them is which players will they be signing...

[Mikey]

That's quite a flurry we're getting from FOH. Maybe someone has decided it's about time they put the brakes on the excitement and raise the problem of the frozen shares.

The shares are frozen, aren't they? I'm sure I read that somewhere..............

[robinp]

And funny... Not a single reference on kickback. More relevant for them is which players will they be signing...

They still signing Stevie May, Kris Boyd and the other players from the non-OF select?

[Billy Whizz]

That's quite a flurry we're getting from FOH. Maybe someone has decided it's about time they put the brakes on the excitement and raise the problem of the frozen shares.

The shares are frozen, aren't they? I'm sure I read that somewhere..............
Mikey, don't let the facts get in the way of a good story though

[HUTCHYHIBBY]

Whats the point of a Creditors Meeting until the Lith Authorities chuck the frozen shares into a microwave?

[Jonnyboy]

Mikey, don't let the facts get in the way of a good story though

It's never stopped BAnderson

[Gus Fring]

It's never stopped BAnderson

He said good story :greengrin

[jacomo]

@The_FOH: @craigmcnhibs very much down to issues in Lithuania. Working with different legal system.

@craigmcnhibs: @The_FOH surely someone can give a time frame? Is it just the creditors meeting or Lithuanian courts still involved? Appreciate your reply.

@The_FOH: @craigmcnhibs both, court needs to approve UBIG creditors list, then creditors meeting. HMFC v small part of big web.

Funny how its allverycomplex again and not rubber stamping...

30 days notice AND legal timescale to process paperwork out of admin. Assumes meeting will take place soon (no evidence of this), assumes the right result (no certainty) and assumes no legal barrier or appeals (no evidence this will be the case).

Today will be the start of the expectation management. As someone else said next week will be interesting. Wonder when Brian is back....

FoH accept HMFC are v small? Must be like a bayonet through the heart.

[Jonnyboy]

He said good story :greengrin

I know but BAnderson's stories are always good, based as they are on fiction :greengrin

[Dashing Bob S]

They still signing Stevie May, Kris Boyd and the other players from the non-OF select?

I can't see Boyd going there. Once the strike force of May and MacKay are installed, they will be first pick and Boyd could only be a benchwarmer, probably not much use to him at this stage of his career.

Anyone heard anything on the new stand?

[jacomo]

Rubber Stamp not working?

Banderson should add some context to his 'rubber stamp' story.

If you think about it, it's actually quite a complex piece of technology, requiring at 3 separate elements - the stamp itself, the ink and of course the piece of paper that will receive the stamping.

Once again it's not Banderson that's wrong, but the world outside his head.

[PatHead]

I can't see Boyd going there. Once the strike force of May and MacKay are installed, they will be first pick and Boyd could only be a benchwarmer, probably not much use to him at this stage of his career.

Anyone heard anything on the new stand?

Still in planning last I heard

[Ozyhibby]

And funny... Not a single reference on kickback. More relevant for them is which players will they be signing...

Their ability to stick their fingers in their ears when FoH are sending a clear signal that things are not progressing is an amazing feat.

[Mon Dieu4]

Was it march they said the cash will run out?

[Dashing Bob S]

The deafening silence on Kickback is instructive. FOH have been making statements (admittedly bland ones, starting their southward management of expectations) and nobody seems to consider this worthy of comment or analysis.

I really do expect a turgid, bitter and ugly struggle towards liquidation from here on in.

Sad in some ways, as I'd like to have seen this exciting business plan and fan management group in action.

Any one care speculate on the chance that, in the event of liquidation, FOH might be able to buy the assets and take over the running of a newco Hearts in the Lowlife?

[Eyrie]

Any one care speculate on the chance that, in the event of liquidation, FOH might be able to buy the assets and take over the running of a newco Hearts in the Lowlife?
I'd expect them to pick up everything except the PBS, and probably for a token pound.

My only concern would be that ground sharing at Livingston may be better for them than having to pay for the upkeep of the PBS and the cost of replacing the asbestos death trap.

[Dashing Bob S]

I'd expect them to pick up everything except the PBS, and probably for a token pound.

My only concern would be that ground sharing at Livingston may be better for them than having to pay for the upkeep of the PBS and the cost of replacing the asbestos death trap.

I know we've been through all this with sevco, but what would they be buying? The club name, SPFA licence and player contracts (those would probably be cancelled...)

[Pinkie]

Unless I'm jumping the gun, those tweets are probably the bleakest thing I have yet seen from FOH. The closest to an admission that the famous are but a bit part and relatively powerless to do owt about it. Can someone who knows what they are talking about (cos I don't) clarify this?

The tweets say that the creditors meeting cannot take place until a court has agreed to who the creditors are. And then once the court has decided that, the creditors need to meet to decide stuff, like whether to sell the homfc shares for diddly squat. Is that right?

But even if the creditors do decide to the honourable thing and hand over the shares to our poppy-pinching neighbours, the shares can only be transferred when a court agrees that the assets of UBIG can be unfrozen. Correct?

Is there any reason why a court would see homfc shares as deserving to be unfrozen ahead of the other UBIG assets? Particularly when they're all frozen because of a big criminal investigation and homfc are in for about £65m (directly or indirectly) of the dodgy transactions?

[Ozyhibby]

I'd expect them to pick up everything except the PBS, and probably for a token pound.

My only concern would be that ground sharing at Livingston may be better for them than having to pay for the upkeep of the PBS and the cost of replacing the asbestos death trap.

A newco starting in Div 2 playing in Livingston?
I swear I would never need porn again.

[GreenLake]

Hearts are heading for a period where they will be lucky to match their success of the late 60's and 70's. They will be able to honour their great hero Donald Ford by achieving what he did. Absolutely F all.

[Sergey]

Unless I'm jumping the gun, those tweets are probably the bleakest thing I have yet seen from FOH. The closest to an admission that the famous are but a bit part and relatively powerless to do owt about it. Can someone who knows what they are talking about (cos I don't) clarify this?

The tweets say that the creditors meeting cannot take place until a court has agreed to who the creditors are. And then once the court has decided that, the creditors need to meet to decide stuff, like whether to sell the homfc shares for diddly squat. Is that right?

But even if the creditors do decide to the honourable thing and hand over the shares to our poppy-pinching neighbours, the shares can only be transferred when a court agrees that the assets of UBIG can be unfrozen. Correct?

Is there any reason why a court would see homfc shares as deserving to be unfrozen ahead of the other UBIG assets? Particularly when they're all frozen because of a big criminal investigation and homfc are in for about £65m (directly or indirectly) of the dodgy transactions?

That's pretty much it, but I'd also add that the UBIG shares, once unfrozen, will be passed to the admins of Ukio for disposal. Therein lies another problem, getting the provisional CVA approved by Ukio creditors committee, which still isn't in place.

Of course, now that Budge has been seen to be cash rich, it would come as no surprise if Ukio held out for the true land value, as the club/shares/land won't be getting passed to a fans group, but instead to a wealthy entrepreneur.

The goalposts have changed considerably since the initial CVA meeting.... and not in a good way if you were a Yam.

[Dashing Bob S]

Im attempting to ride Mila Kunis

You will be banging her senseless before those shares are in FOH hands.

[Pinkie]

That's pretty much it, but I'd also add that the UBIG shares, once unfrozen, will be passed to the admins of Ukio for disposal. Therein lies another problem, getting the provisional CVA approved by Ukio creditors committee, which still isn't in place.

Of course, now that Budge has been seen to be cash rich, it would come as no surprise if Ukio held out for the true land value, as the club/shares/land won't be getting passed to a fans group, but instead to a wealthy entrepreneur.

The goalposts have changed considerably since the initial CVA meeting.... and not in a good way if you were a Yam.

Thanks. It's quite a cocktail of bleakness. Which is nice.

[Dashing Bob S]

That's pretty much it, but I'd also add that the UBIG shares, once unfrozen, will be passed to the admins of Ukio for disposal. Therein lies another problem, getting the provisional CVA approved by Ukio creditors committee, which still isn't in place.

Of course, now that Budge has been seen to be cash rich, it would come as no surprise if Ukio held out for the true land value, as the club/shares/land won't be getting passed to a fans group, but instead to a wealthy entrepreneur.

The goalposts have changed considerably since the initial CVA meeting.... and not in a good way if you were a Yam.

On the positive side a lot of people will be better off as there will be no need to shell out on the direct debits every months and the cost of an ST to watch Lowland League football at Livy shouldn't be too high.

[jacomo]

That's pretty much it, but I'd also add that the UBIG shares, once unfrozen, will be passed to the admins of Ukio for disposal. Therein lies another problem, getting the provisional CVA approved by Ukio creditors committee, which still isn't in place.

Of course, now that Budge has been seen to be cash rich, it would come as no surprise if Ukio held out for the true land value, as the club/shares/land won't be getting passed to a fans group, but instead to a wealthy entrepreneur.

The goalposts have changed considerably since the initial CVA meeting.... and not in a good way if you were a Yam.

I can't believe Budge would go public unless the price she is offering to pay is now fixed. I may be underestimating their stupidity however. :greengrin

[Haymaker]

I can't believe Budge would go public unless the price she is offering to pay is now fixed. I may be underestimating their stupidity however. :greengrin

Did she go public or did someone do it for her?

[Col2]

To be fair both Sergey and Bajillions have been absolutely spot on in recent months. I am sure i am not the only one who started to get influenced by all the pro FOH media stuff....

...i should have known better. And wont be making that mistake again.

[Col2]

Did she go public or did someone do it for her?

The latter. Her name is registered name under Bidco so media were going to pick it up regardless. No excuse for the follow up media stories.

[Hibby70]

I think Jackson will pull the plug in the next fortnight. He'll have been told in Lithuania to expect at least 6 months to get the process of unfreezing the shares underway. He'll then cite the fact that he tried everything including going to Lithuania.

[Gus Fring]

To be fair both Sergey and Bajillions have been absolutely spot on in recent months. I am sure i am not the only one who started to get influenced by all the pro FOH media stuff....

...i should have known better. And wont be making that mistake again.

Thank you for noticing. It's difficult not to look like a slaver when the media are putting a positive spin on everything. When I reply with "My sources are saying different" it can take a long time for it becomes clear I wasn't talking rubbish. I'm not looking to be hailed as a hero or expect everyone to bow at my feet. I simply just get info and then post what I hear on here.

[O'Rourke3]

Thank you for noticing. It's difficult not to look like a slaver when the media are putting a positive spin on everything. When I reply with "My sources are saying different" it can take a long time for it becomes clear I wasn't talking rubbish. I'm not looking to be hailed as a hero or expect everyone to bow at my feet. I simply just get info and then post what I hear on here.

Cannot wait for the news from the sources this week :greengrin:thumbsup:

[Haymaker]

The latter. Her name is registered name under Bidco so media were going to pick it up regardless. No excuse for the follow up media stories.

Worst case for them I suppose! Probably didn't want to be named so early... especially if it has affected the possible takeover IF it ever happens!

[greenginger]

The latter. Her name is registered name under Bidco so media were going to pick it up regardless. No excuse for the follow up media stories.

There are a few Bidco's registered at Companies House, only the 1874 bit links it with the Yams and I very much doubt our sports press would have picked up on it unless it was waved under their noses.

[Jack]

The latter. Her name is registered name under Bidco so media were going to pick it up regardless. No excuse for the follow up media stories.

Was there a need for her name being registered under BIDCO at this time?

Probably not, I don't know the technicalities of these things.

But it's not as though, their club; S.H.I.T., BDO, banderson and the EEN and everyone else involved appear to have mucked up dates and timings.

[Dashing Bob S]

I think Jackson will pull the plug in the next fortnight. He'll have been told in Lithuania to expect at least 6 months to get the process of unfreezing the shares underway. He'll then cite the fact that he tried everything including going to Lithuania.

The way the cards are falling this now seems to be the most likely scenario. A bit of expectation lowering this week, as parties try to maintain their credibility, then the guillotine brought down in a fortnight or so.

[Coco Bryce]

The way the cards are falling this now seems to be the most likely scenario. A bit of expectation lowering this week, as parties try to maintain their credibility, then the guillotine brought down in a fortnight or so.

The end game is coming.

[greenginger]

Was there a need for her name being registered under BIDCO at this time?

Probably not, I don't know the technicalities of these things.

But it's not as though, their club; S.H.I.T., BDO, banderson and the EEN and everyone else involved appear to have mucked up dates and timings.


I think it was more like pressure from some of the FoH committee who would not be happy to continue to take the pledges and beg for new ones under false pretenses.

They had to come clean, but probably thought they could just spin the Ukio admin. a line and everything would be barry.

And why not, they all thought they owed the money to themselves. :greengrin

[Haymaker]

the end game is coming.


:lol:

[Dashing Bob S]

The end game is coming.

Their cakes are baking.

[Onion]

I think Jackson will pull the plug in the next fortnight. He'll have been told in Lithuania to expect at least 6 months to get the process of unfreezing the shares underway. He'll then cite the fact that he tried everything including going to Lithuania.

If that's the case, BJ will be seeking asylum in Lith Land.

[Kaiser1962]

Anyone heard anything on the new stand?


Once they are financially refreshed and the PBS redevelopment is underway, the collective seethe on this board will be tangible.

[DaveF]

I think Jackson will pull the plug in the next fortnight. He'll have been told in Lithuania to expect at least 6 months to get the process of unfreezing the shares underway. He'll then cite the fact that he tried everything including going to Lithuania.

Reallly? Has he ever pulled the plug on any club he's been involved with? I recall lots of aparent close calls and news of imminent liquidation with the likes of Dunfermline but unsuprisingly they never went under.

Don't see this one ending any differently to be honest.

[clerriehibs]

Reallly? Has he ever pulled the plug on any club he's been involved with? I recall lots of aparent close calls and news of imminent liquidation with the likes of Dunfermline but unsuprisingly they never went under.

Don't see this one ending any differently to be honest.
portsmouth

[Craig_in_Prague]

beating 9 men in that semi at the wonderful stadium that is Easter Road, with a final looming and all the income that would have brought, now appears to be a bit of a sore one.

Still, a few bake sales and face painting and I'm sure the cash flow will be just fine.

[jacomo]

portsmouth

As I recall, BDO did a good job to keep Portsmouth trading, before deciding that Newco was the only viable option. As the Oldco Portsmouth shares are still frozen that seemed very wise.

HMFC were in a worse position when BDO took over.

[ACLeith]

.... I'm not looking to be hailed as a hero or expect everyone to bow at my feet.

You are and we do! And if the BIGL finally happens, you - and a few other worthies on here - should expect to be carried shoulder-high from the bottom of Easter Road and onto the pitch to be given a standing ovation. And to be allowed to win the Happy Hibee half-time draw and to take part in the half-time 10-second challenge. We DO know how to treat deserving people on here:thumbsup:

[steviehibsleith]

Reallly? Has he ever pulled the plug on any club he's been involved with? I recall lots of aparent close calls and news of imminent liquidation with the likes of Dunfermline but unsuprisingly they never went under.

Don't see this one ending any differently to be honest.

Remember BDO and Brian Jackson said at the start - this is the worst football administration they had seen.

[Mikey]

Reallly? Has he ever pulled the plug on any club he's been involved with? I recall lots of aparent close calls and news of imminent liquidation with the likes of Dunfermline but unsuprisingly they never went under.

Don't see this one ending any differently to be honest.

It's the frozen shares that make all the difference. Dunfermline didn't have that problem to deal with and Portsmouth did. Dunfermline weren't liquidated and Portsmouth were.

You can see where this is going :greengrin

However, I still think they'll see out the season on the park.

[Twa Cairpets]

Am I reading this latest tweet right? Are they saying that FOH money could now (potentially) be used to keep them afloat?



Craig McNamara ‏@craigmcnhibs 12h
@The_FOH thanks again. Is there a time constraint at this end? Can BDO keep the admin going if further delay in Lithuania?

Foundation of Hearts ‏@The_FOH 2h
@craigmcnhibs hopefully yes, but as has been reported by BDO cash will run v low.

Craig McNamara ‏@craigmcnhibs 1h
@The_FOH is it possible to use FoH money to keep things going? Lithuanians have been v slow so far.

Foundation of Hearts ‏@The_FOH 8m
@craigmcnhibs That would be a point for negotiation.

[Mikey]

@The_FOH: BDO are attempting to secure movement in LTN in terms of UBIG to allow a Creditors Meeting to take place. That will require 30 days notice.


@The_FOH: @craigmcnhibs very much down to issues in Lithuania. Working with different legal system.

@craigmcnhibs: @The_FOH surely someone can give a time frame? Is it just the creditors meeting or Lithuanian courts still involved? Appreciate your reply.

@The_FOH: @craigmcnhibs both, court needs to approve UBIG creditors list, then creditors meeting. HMFC v small part of big web.

Funny how its allverycomplex again and not rubber stamping...

30 days notice AND legal timescale to process paperwork out of admin. Assumes meeting will take place soon (no evidence of this), assumes the right result (no certainty) and assumes no legal barrier or appeals (no evidence this will be the case).

Today will be the start of the expectation management. As someone else said next week will be interesting. Wonder when Brian is back....

Still no mention of the FOH Tweets over the road.

:ostrich:

[CropleyWasGod]

Am I reading this latest tweet right? Are they saying that FOH money could now (potentially) be used to keep them afloat?

It could, but it would need a change in the FOH constitition. That apart, I wouldn't see much resistance from the Diddies, if it's keeping the Club open.

Ms. Budge might not like the idea though.

[Waxy]

Old purple drawers wont be amused.

[Sanger]

Still no mention of the FOH Tweets over the road.

:ostrich:

Well done to all those that hung on to the trail. There is still hope they will be obliterated from history!

[Twa Cairpets]

It could, but it would need a change in the FOH constitition. That apart, I wouldn't see much resistance from the Diddies, if it's keeping the Club open.

Ms. Budge might not like the idea though.

Just seems a bit unusual that they are now even raising the possibility of the cash being frittered away to support BDO.

It entertainingly like a kind of poor mans "1984" with history getting changed as the masses kow-tow in misery, subjection and stupidity.

[Ozyhibby]

Still no mention of the FOH Tweets over the road.

:ostrich:

Bet if they mention 1902, 5-1 or the possibility of a new striker they would be all over it like a cheap suit.
Anything remotely negative and they zone right out and dream about Rudi.

[matty_f]

Just seems a bit unusual that they are now even raising the possibility of the cash being frittered away to support BDO.

It entertainingly like a kind of poor mans "1984" with history getting changed as the masses kow-tow in misery, subjection and stupidity.

Surely that adds risk to the "no risk" pledges. They were told they'd get the money back if the sale didn't go through so if they start spending the money now then how will they repay the contributors?

[Weststandwanab]

Surely that adds risk to the "no risk" pledges. They were told they'd get the money back if the sale didn't go through so if they start spending the money now then how will they repay the contributors? They will not but the Yams are daft enough to believe the story which will unfold if they go down that route.

[Onion]

Surely that adds risk to the "no risk" pledges. They were told they'd get the money back if the sale didn't go through so if they start spending the money now then how will they repay the contributors?

Exactly, changing the terms of the DDs sounds easy but will be an admin nightmare. Many might be happy for the funds to be used to keep the club on life support, but some will just want their money back. Managing opt-outs will take time, effort and money. Tick tock.

[Mikey]

So my good friend and "respected" poster on Brokeback has just told me BDO will announce in the next couple of days that a deal has been reached with the Lith's. Admin will be exited in 4-6 weeks.

Specifically asked for Sergey's view on this (they don't like you over there!).


That's 4 weeks up :greengrin

Any chance you can ask yer man how confident he is of them coming out of admin in the next 2 weeks? Don't forget to remind him of the frozen shares and the fact that there are still no dates set for the necessary meetings in Lithuania :wink:

2 weeks might be a little tight :Romanov:



5 weeks :wink:

[Twa Cairpets]

Surely that adds risk to the "no risk" pledges. They were told they'd get the money back if the sale didn't go through so if they start spending the money now then how will they repay the contributors?

I would say it not only adds risk but completely changes the basis of the donation. Again.

Its the first time as far as Im aware that they've flagged it up as a possibility anywhere. Again, it may be misinterpretation on my part, but on the face of it this doesn't seem to be the case.

[Sergey]

Surely that adds risk to the "no risk" pledges. They were told they'd get the money back if the sale didn't go through so if they start spending the money now then how will they repay the contributors?


I would say it not only adds risk but completely changes the basis of the donation. Again.

Its the first time as far as Im aware that they've flagged it up as a possibility anywhere. Again, it may be misinterpretation on my part, but on the face of it this doesn't seem to be the case.

They're stumbling from one catastrophe to the next, with nothing more than a few encouraging PR releases to appease the masses.

If indeed FoH do dip into the pledges, that's another game-changer, especially if folk want their money back.

[Zondervan]

5 weeks :wink:

I am off today, but will ask him tomorrow. There is still a week for things to be turned around though!! 😎

[jacomo]

I would say it not only adds risk but completely changes the basis of the donation. Again.

Its the first time as far as Im aware that they've flagged it up as a possibility anywhere. Again, it may be misinterpretation on my part, but on the face of it this doesn't seem to be the case.

Hostage to fortune?

July 7, 2013

http://www.foundationofhearts.org/an-update-to-all-supporters-of-the-foundation-of-hearts/



PS Remember your direct debit is 100% safe and secure, and all monies (minus very small administration charges) will be returned if the bid is not successful. It’s a no risk situation!

As Bajillions and CWG have pointed out, FoH only allows for their money to be used once the acquisition of HMFC has happened. I can't see how they can prop up the club in the meantime unless their go back to all the Diddies and ask for their permission.

However, having read through past FoH statements I know notice that they have been carefully worded so as not to claim that FoH is going to run the club. Their favourite phrase is "the bid submitted on behalf of FoH". I guess this gives them a little wriggle room to say they never claimed FoH was actually going to run the club.

[PatHead]

If Hearts are not out of Administration by the end of the season

1. Will the signing ban remain?
2. Who is out of contract and will require to be replaced?
3. How can they do 2 whilst 1 is in place?

[Mikey]

I am off today, but will ask him tomorrow. There is still a week for things to be turned around though!! 

:thumbsup:

[Dashing Bob S]

Five - one

Corrupt - ion
Administrat -ion
Relegat - ion
Liquidat - ion
Demolit - Ion

Hearts famous five.

[Ozyhibby]

If Hearts are not out of Administration by the end of the season

1. Will the signing ban remain?
2. Who is out of contract and will require to be replaced?
3. How can they do 2 whilst 1 is in place?

They are allowed to replace out of contract players who leave as long as they are on same wages and the SPFL deems them a like for like replacement.
Doubt it will get to that.

[Deansy]

12084

Wonder if this 'woman' (??) realises how popular she's become ??

[Gus Fring]

Still no mention of the FOH Tweets over the road.

:ostrich:

There is a another new thread dedicated to Myself and Sergey though. :thumbsup:

I'm a Jambo at the wind up apparently. My info is wrong. Blah Blah Blah.

I don't think they've ever given any examples of where my info has been wrong but Hearts fans don't silly themselves with silly things like evidence.

[Weststandwanab]

There is a another new thread dedicated to Myself and Sergey though. :thumbsup:

I'm a Jambo at the wind up apparently. My info is wrong. Blah Blah Blah.

I don't think they've ever given any examples of where my info has been wrong but Hearts fans don't silly themselves with silly things like evidence. Do you have a link ? I could do with a laugh.

[Gus Fring]

Enjoy http://www.hmfckickback.co.uk/index.php?/topic/137787-more-net-gold/

[jacomo]

There is a another new thread dedicated to Myself and Sergey though. :thumbsup:

I'm a Jambo at the wind up apparently. My info is wrong. Blah Blah Blah.

I don't think they've ever given any examples of where my info has been wrong but Hearts fans don't silly themselves with silly things like evidence.

If so, you're a Jambo with a serious case of Stockholm syndrome.

And Sergey has a multiple personality disorder of course. :greengrin

[jacomo]

Enjoy http://www.hmfckickback.co.uk/index.php?/topic/137787-more-net-gold/

That thread is the actual sound of the bottom of a barrel being scraped.

[Craig_in_Prague]

Enjoy http://www.hmfckickback.co.uk/index.php?/topic/137787-more-net-gold/

Had a quick look. Had to close it quickly.

WTF?

Are these humans? With jobs?
How can they type and afford a computer/internet enabled device?

I mean, WTF?

and oh - Where/when has Baj/Serg. been wrong? where? hello ?

and yes, this place is the home of the truth. Weeks and weeks ahead of the media since day 1.

Plums. Enjoy seeing your club going down the pan.
Pleasing.

[O'Rourke3]

If so, you're a Jambo with a serious case of Stockholm syndrome.

And Sergey has a multiple personality disorder of course. :greengrin

Who sends photos of himself across the internet - Yammish behavior in that one though, maybe Sergey's a first team member :hmmm:

[Weststandwanab]

Enjoy http://www.hmfckickback.co.uk/index.php?/topic/137787-more-net-gold/ Cheers. Muppets.

[Kato]

i'm a jambo at the wind up apparently. My info is wrong. Blah blah blah.


ltyf

[Col2]

There is a another new thread dedicated to Myself and Sergey though. :thumbsup:

I'm a Jambo at the wind up apparently. My info is wrong. Blah Blah Blah.

I don't think they've ever given any examples of where my info has been wrong but Hearts fans don't silly themselves with silly things like evidence.

Brilliant. Its got my quotes in as well.

Fantastic. I wonder if deep down any more bad news will be the tipping point for them all and this is diving such denial that they aren't even acknowledging 'Sir Ian Murray' tweets?

Or maybe dexter has warned them all to tow the line.....

[Sergey]

And still no reply to last nights FoH tweets.

Surely circa 8000 of them can't ignore them...


@The_FOH: @craigmcnhibs very much down to issues in Lithuania. Working with different legal system.

@craigmcnhibs: @The_FOH surely someone can give a time frame? Is it just the creditors meeting or Lithuanian courts still involved? Appreciate your reply.

@The_FOH: @craigmcnhibs both, court needs to approve UBIG creditors list, then creditors meeting. HMFC v small part of big web.

Funny how its allverycomplex again and not rubber stamping...

30 days notice AND legal timescale to process paperwork out of admin. Assumes meeting will take place soon (no evidence of this), assumes the right result (no certainty) and assumes no legal barrier or appeals (no evidence this will be the case).

[Kato]

And still no reply to last nights FoH tweets.

Surely circa 8000 of them can't ignore them...

#createmystery

[GreenLake]

The strange lack of yam spin doctoring has caused a news fungibility crisis for needatictac.com

[clerriehibs]

I may have missed the explanation, but what valid reason do the sickbaggers ridicule this thread? So far as I'm aware, it's charted their downfall from missed wages to admin and duration of admin damned successfully.

If hibs.net forecasts liquidation, then they should be ****ing worried rather than ridiculing the posters, our posters, who have more of a clue than their political interferers.

[ano hibby]

Five - one

Corrupt - ion
Administrat -ion
Relegat - ion
Liquidat - ion
Demolit - Ion

Hearts famous five.

Excellent - the basis of a hibs.net t-shirt I might suggest..along the lines of the BeLIEve ones of a few years ago..

[Phil D. Rolls]

I may have missed the explanation, but what valid reason do the sickbaggers ridicule this thread? So far as I'm aware, it's charted their downfall from missed wages to admin and duration of admin damned successfully.

If hibs.net forecasts liquidation, then they should be ****ing worried rather than ridiculing the posters, our posters, who have more of a clue than their political interferers.

It's all a bit Spirit of 1914, over there now - they haven't got a clue what's about to hit them. It's not as if people aren't trying to tell them, they just don't understand.


General Melchett: [to Baldrick] Ah, tally-ho, yippety-dip and zing zang spillip! Looking forward to bullying off for the final chukka?

Captain Blackadder: Permission to speak.

[Baldrick is silent]

Captain Blackadder: Answer the General, Baldrick!

Private Baldrick: [whispers] I can't answer him, sir, I don't know what he's talking about.

[hibees 7062]

Enjoy http://www.hmfckickback.co.uk/index.php?/topic/137787-more-net-gold/

I am starting to think that pair are Hearts fans winding them up. Surely nobody could be that deluded

Really :greengrin

[Dashing Bob S]

The lesson from this and Sevco is that if you want the truth when your club is in financial/legal trouble, then go to your rival club's sites and find the most clued-up posters there, and because they are critics of the club in question, are more compelled to be exploring and expounding the harsher truths.

Few fans want that, as fandom is basically an irrational act based on faith, and everyone wants the best for their club. Jambos are no different. Few want to see the punches coming, which is rather a shame for them, cause it's always the one you don't see that hurts you the most.

To us it seems astonishing that they are criticising Sergey and Bajillions for merely reciting last night's FOH tweets, which they are choosing to ignore. But the criticisms are from the extreme oaffish tendency and some of the smarter (but no less partisan) Yams are now melting away in the background, quietly distancing themselves. They know the FOH CVA is dead in the water and that the club is heading for liquidation.

I'm looking forward to seeing a few desperate gambits thrown in; the changing of the rules on the FOH DD's, the begging Anne Budge to chip in an indefinite bridging loan, and yes, the cake sales may even return.

In the meantime Jambo's should buy as many copies of the 5-1 DVD as the can, because unless the Lowland League and Div 2 are their thing, they'll get through quite a few of them over the next decade.

[Phil D. Rolls]

I am starting to think that pair are Hearts fans winding them up. Surely nobody could be that deluded

Really :greengrin

I heard there was a Yam that got Romanov's name tatooed on his back. Mind you, I'm starting to think I maybe dreamt it. Nobody is that stupid.

[#FromTheCapital]

Just had a peek over the road, they're debating who would be better for them; Jim Goodwin or Jamie Hamill. "Goodwin couldn't lace Hamill's boots"...... Hamill couldn't lace Hamill's boots ffs!

Oh how the mighty have fallen!... Pleasing

[Deansy]

And funny... Not a single reference on kickback. More relevant for them is which players will they be signing...

From one Muppet -

'I'll echo the first thoughts about Kane Hemmings. Exactly the sort of player we'll need.
Proven at that level and will only be on a few hundred quid at Cowdenbeath'


Unlike the endless £'s that'll be on offer at the PBS, eh !!

Since the confirmation of Budge it's becoming clear that the 'Big-Team/Big-Money' belief/mentality is still rampant - 'IF' they survive and she takes control, I fully expect the D/D's to plummet as they'll take the collective view that 'She can afford it' and should be honoured to be known forever as their saviour !!