Share Transfers Agreed/Cooling off period

[greenginger]

I also note that house prices near the Tram fiasco are to increase, given the PBS is close to the Murrayfield stop could raise a bit move value. Could be the only 'good' aspect of the tram!!


Yeah, and there will be a development surcharge on the site to pay for the trams.

That was where the Yam mega stand hit the buffers. The Council wanted several hundred thousand for the planning stage to progress but the UBIG check never arrived.

[weonlywon6-2]

I'm an MP has spoken - little surprise that he jumped ship, eh!

http://www.scotsman.com/news/scotland/top-stories/hearts-could-face-liquidation-if-no-deal-soon-1-3359252







They wouldn't listen - but it's now sinking in.

tic tic tickety tock

[big-mo]

Without going over the c23m posts on this subject, can someone remind me of the state of the tax they owed to HMRC before going into administration?

If my memory serves me right, they had agreed a long term repayment plan, if so, the money outstanding will now have been lost. If that is the case why should my tax money go to paying ambassadors, government officials etc, trying to dig them out their hole, they have used up enough of my money already. Get the place knocked down ASAP and get the 'Gorgie Village' regenerated project underway and create many, many more jobs that the current inhabitants do.

[CropleyWasGod]

Without going over the c23m posts on this subject, can someone remind me of the state of the tax they owed to HMRC before going into administration?

If my memory serves me right, they had agreed a long term repayment plan, if so, the money outstanding will now have been lost. If that is the case why should my tax money go to paying ambassadors, government officials etc, trying to dig them out their hole, they have used up enough of my money already. Get the place knocked down ASAP and get the 'Gorgie Village' regenerated project underway and create many, many more jobs that the current inhabitants do.

Approx £1.8m, IIRC.

[Keith_M]

I have a vague recollection of a land valuation of Tynecastle commissioned by BDO. Does anyone have a link to this/know how much it was valued at?

The reason I ask is that some people (morons) are now changing tack from "UKIO will get nothing" to "UKIO will get much less than 2.5M from the land".

[Gus Fring]

Without going over the c23m posts on this subject, can someone remind me of the state of the tax they owed to HMRC before going into administration?

If my memory serves me right, they had agreed a long term repayment plan, if so, the money outstanding will now have been lost. If that is the case why should my tax money go to paying ambassadors, government officials etc, trying to dig them out their hole, they have used up enough of my money already. Get the place knocked down ASAP and get the 'Gorgie Village' regenerated project underway and create many, many more jobs that the current inhabitants do.

short version: it's gone.

long version: one of the benefits of administration is saving the company so that it can pay tax in the future. If tax is the priority here we should be hoping for Hearts survival as it means more money.

[The Falcon]

Approx £1.8m, IIRC.

And what was the amount the share issue proposed to raise for [ahem] youth development?

[Kato]

I have a vague recollection of a land valuation of Tynecastle commissioned by BDO. Does anyone have a link to this/know how much it was valued at?

The reason I ask is that some people (morons) are now changing tack from "UKIO will get nothing" to "UKIO will get much less than 2.5M from the land".

They really do just open their gobs and let any old crap hiding in there drop out.

[JAY-ESS GREEN]

The maximum value of the PBS can only be ascertained when the site has been completely cleared, and any stigma attached to depriving the Famous of a home has been removed.

Developers will be able to work with the planning dept. to get the maximum value from the site.

in other words get Scotdem in before advertising the dump. :greengrin

Did scotdem not get liquidated too

[Gingertosser]

Lets hope they do get liquidated & don't finish the season.

Everyone would be awarded 3-0 wins against them, that has to work in our favour, seeing as they've been beaten by everyone else.

We'd be well clear of the play off spot.

[greenginger]

Did scotdem not get liquidated too


Sorry, their reincarnation Chamic. They were a good bunch of Hibbies way, way, back !

[Jim44]

An in-depth Jambo explanation for today's announcement - "A complete non-story stating the obvious to try and cast clouds over yesterdays victory and possibly everything going tits up at ibrox.

The weegie media hate seeing us happy."

[Kato]

An in-depth Jambo explanation for today's announcement - "A complete non-story stating the obvious to try and cast clouds over yesterdays victory and possibly everything going tits up at ibrox.

The weegie media hate seeing us happy."

Which is why it has quotes from Foulkes and Iamanmp. Childish idiots will see the death of their club.

[Phil D. Rolls]

An in-depth Jambo explanation for today's announcement - "A complete non-story stating the obvious to try and cast clouds over yesterdays victory and possibly everything going tits up at ibrox.

The weegie media hate seeing us happy."

:faf:

Its amusing how they can't see the similarities between them and The Rangers yet. Like anybody outside Edinburgh gives a monkeys about The Famous.

[Onion]

Lets hope they do get liquidated & don't finish the season.

Everyone would be awarded 3-0 wins against them, that has to work in our favour, seeing as they've been beaten by everyone else.

We'd be well clear of the play off spot.

Now THAT would be poetic.... but just don't see it. They'll complete the season, just to spite us :greengrin

[Seveno]

I also note that house prices near the Tram fiasco are to increase, given the PBS is close to the Murrayfield stop could raise a bit move value. Could be the only 'good' aspect of the tram!!

Good point, another £1m on the price. Take note, Sergey.

[greenginger]

Approx £1.8m, IIRC.

It turned out more than £ 1.8 million at the final count.

The BDO interim statement updated the figures.

HMRC Debt management unit £ 1,881,065.00
HMRC - VAT national insolvency unit £ 646,851.00 ....... Gues that was the Vat on the pre-admin season tickets.


Grand total £ 2,537,916.00 of tax stolen by the Heart and Soul of Edinburgh F C.

[Dashing Bob S]

Just to remind everybody that it's April tomorrow and I'm astonished to find that Hearts are not out of administration yet.

Is sometime in May the new estimate?

[PapillonVert]

EEN - "Hearts administrators BDO will enlist political help in an effort to save the Edinburgh club following crunch talks at Tynecastle yesterday" bla bla bla. It goes on to say Foulkes has already petitioned Lith's UK ambassador for help & is "helping" arrange for Jackson to meet him in person this week. "He admitted he was concerned about the prospect of Hearts being liquidated if the shares are not transferred to prospective owner Ann Budge in the next few weeks, despite a CVA being agreed in November." HO HO HO. They are s******* themselves now. Foulkes running around trying to make out he is the saviour when he was instrumental in them being in this mess in the first place. I know we don't have our problems to seek at HFC, but thankfully nowhere near as serious as this. Pleasing. :greengrin

IIRC, they employed 'political help' to bring Vlad to the PBS in the first place. Steve Cardownie and APB.

"Vlad is the real deal", quoth they at the time.

They didn't do a great job then....that's all I have to say.

Still, you can only con those who want to be conned.

[Phil D. Rolls]

Just to remind everybody that it's April tomorrow and I'm astonished to find that Hearts are not out of administration yet.

Is sometime in May the new estimate?

May is the new April.

[Sergey]

Just to remind everybody that it's April tomorrow and I'm astonished to find that Hearts are not out of administration yet.

Is sometime in May the new estimate?

I'll tell you what, Robert - the panic is setting in over-the-road and their Head Honcho, Dexter is now asking....


Nobody has really answered what the contingency plans are.

ie - if we get liquidated what happens - will AB step in and do a "Rangers" ? Are we guaranteed league status ?

It's a bit late in the day to be discussing that, ya welt. Let me give you a wee tip, Dex - Liquidation means you lose the lot.

[Onion]

Just to remind everybody that it's April tomorrow and I'm astonished to find that Hearts are not out of administration yet.

Is sometime in May the new estimate?

The big U-Turn is on. Ian Murray (Fat MP version), Michael Stewart and a few others being rolled out on Reporting Scotland talking about the possibility of the Big L and how the fans will rally round. The panic is almost palpable.

April should be fun :greengrin

[Joe6-2]

What are the odds now on them failing to complete the season?

[Mikey]

What are the odds now on them failing to complete the season?

They will see out the season. The second half of May might be tricky though :greengrin

[Kato]

Dexter is now asking....

Nobody has really answered what the contingency plans are.


hahahahaha

Just like there wasn't a sanity clause, there ain't no contingency plan. They put all their eggs in one basket only there isn't enough eggs.

[green glory]

May is the new April.

And April is the new March, when the share certificates get issued.

...erm.

[jgl07]

The big U-Turn is on. Ian Murray (Fat MP version), Michael Stewart and a few others being rolled out on Reporting Scotland talking about the possibility of the Big L and how the fans will rally round. The panic is almost palpable.

April should be fun :greengrin
How long before they come up with a Plan B?

Rangers had it built in to the proposed CVA throughout.

Is it already too late to get a Newco up and running in time for election to League Two (or Lowlands League)?

Will there be competition (Shoeless Bob, Massone, Hibs-net?) for the purchase of the club name and identity by FoH from the the liquidator?

[Kato]

And April is the new March, when the share certificates get issued.

...erm.

They will be out of admin and second in the League by October...








... (via liquidation, South Central Edinburgh Sighthill Calor Gas Store 4th Division).

[Bostonhibby]

hahahahaha

Just like there wasn't a sanity clause, there ain't no contingency plan. They put all their eggs in one basket only there isn't enough eggs.

Or baskets :greengrin

Basket cases abound but they are all now focussed on why there isn't a plan B. All these months later........... shame really, but they were always going to be out of admin by xmas because they are a big team who owe it all to themselves and Lord George Foulkes and independent Ian Murray are sorting it all out, just like Mr Romanov Sir did before them.........

Tick tock

[CropleyWasGod]

How long before they come up with a Plan B?

Rangers had it built in to the proposed CVA throughout.

Is it already too late to get a Newco up and running in time for election to League Two (or Lowlands League)?

Will there be competition (Shoeless Bob, Massone, Hibs-net?) for the purchase of the club name and identity by FoH from the the liquidator?

I would have thought that, privately, a plan for liquidation would already be there, in principle at least. If not through BDO or FOH, at least by someone independent.

If there isn't, it's irresponsible.

[Jim44]

Some of the Jambos seem to think that, if the big L materialises, they will then be salvaged by Budgie and, albeit in a lower league, will pick up the pieces and plod on at the PBS. Old ground already covered I know, but does liquidation not mean that they lose their share in the SPFL and have to re-apply? Furthermore, will the Liths. not take the option of the security on the stadium and dispose of it ( maybe sell it back to them (if they could afford it)?

.

[Kato]

but they were always going to be out of admin by xmas because they are a big team who owe it all to themselves and Lord George Foulkes and independent Ian Murray are sorting it all out, just like Mr Romanov Sir did before them.........


Hubris and/or stupidity. Probably just the latter.

[CropleyWasGod]

Some of the Jambos seem to think that, if the big L materialises, they will then be salvaged by Budgie and, albeit in a lower league, will pick up the pieces and plod on at the PBS. Old ground already covered I know, but does liquidation not mean that they lose their share in the SPFL and have to re-apply? Furthermore, will the Liths. not take the option of the security on the stadium and dispose of it ( maybe sell it back to them (if they could afford it)?

.

AB might well buy the PBS, but it would be in a sale on the open market. She might not want to, of course, given that it might take her longer to get her money back.

As for the security, UKIO would get the first £6.8m (after the liquidator's fees) of that sale.

And, yes, they would lose their SPFL share. A Newco would have to apply to have the share transferred to them. That would result in a similar process to the so-called Sevco "5 way agreement", to make sure that all football debts were paid first.

[Bostonhibby]

Hubris and/or stupidity. Probably just the latter.

:confused:Wasn't Hubris that South American guy who earned £20k a week that Vlad loaned them from Kaunus but never kicked a ball?

[Keith_M]

Some of the Jambos seem to think that, if the big L materialises, they will then be salvaged by Budgie and, albeit in a lower league, will pick up the pieces and plod on at the PBS. Old ground already covered I know, but does liquidation not mean that they lose their share in the SPFL and have to re-apply?
.

There would be absolutely nothing left of the current Hearts, so a transfer would be difficult. Any interested parties would have to make a proposal to the SFA then keep their fingers crossed.


Furthermore, will the Liths. not take the option of the security on the stadium and dispose of it ( maybe sell it back to them (if they could afford it)?
.

That part's much more certain than the first. Tynecastle would be the UKIO Admins asset to do with as they please, so could sell or rent it to whoever they like. The problem is that Tynecastle is presumably covered by the same asset freeze as those pesky shares, so anyone wanting to rent it from them would find it's not actually straightforward to do so, or may take a while.

Even the most Ostrich like of Hearts fans are now facing the prospect of having to find another stadium elsewhere.

[CropleyWasGod]

There would be absolutely nothing left of the current Hearts, so a transfer would be difficult. Any interested parties would have to make a proposal to the SFA then keep their fingers crossed.



That part's much more certain than the first. Tynecastle would be the UKIO Admins asset to do with as they please, so could sell or rent it to whoever they like. The problem is that Tynecastle is presumably covered by the same asset freeze as those pesky shares, so anyone wanting to rent it from them would find it's not actually straightforward to do so, or may take a while.

Even the most Ostrich like of Hearts fans are now facing the prospect of having to find another stadium elsewhere.

Sorry, that's not correct.

Tynecastle would still be owned by HMFC (IL). It would be sold by their liquidator, and the proceeds divvied up as I mentioned above.

[Springbank]

Sorry, that's not correct.

Tynecastle would still be owned by HMFC (IL). It would be sold by their liquidator, and the proceeds divvied up as I mentioned above.

Is it sellable or frozen?

[Keith_M]

Sorry, that's not correct.

Tynecastle would still be owned by HMFC (IL). It would be sold by their liquidator, and the proceeds divvied up as I mentioned above.


Fair enough, wrong entity. Replace the word Admins with Liquidators and it's still basically the same :wink:


However, the effect on any prospective New Hearts would be the same.

[Ozyhibby]

Some of the Jambos seem to think that, if the big L materialises, they will then be salvaged by Budgie and, albeit in a lower league, will pick up the pieces and plod on at the PBS. Old ground already covered I know, but does liquidation not mean that they lose their share in the SPFL and have to re-apply? Furthermore, will the Liths. not take the option of the security on the stadium and dispose of it ( maybe sell it back to them (if they could afford it)?

.


There is very little chance that they could be liquidated and the PBS, the name and assets marketed and sold in the close season.
The league share can be transferred at any time as it can't be sold.
If they want to start a newco in time for next season, they should really get a move on and liquidate now.

[CropleyWasGod]

Is it sellable or frozen?

It's sellable.

It's only UBIG's assets that are frozen. Tynecastle is not an asset of UBIG, it is owned by HMFC.

[Bostonhibby]

AB might well buy the PBS, but it would be in a sale on the open market. She might not want to, of course, given that it might take her longer to get her money back.

As for the security, UKIO would get the first £6.8m (after the liquidator's fees) of that sale.

And, yes, they would lose their SPFL share. A Newco would have to apply to have the share transferred to them. That would result in a similar process to the so-called Sevco "5 way agreement", to make sure that all football debts were paid first.

I think this is right, all budgie would be doing is bidding with her own money for the whole shooting match up to what she thought it was worth or the original £2.5m if no one was likely to gazump it, if the figures went beyond that she could probably bid more and still get the flumps to pay her back for the privilege of her owing the club and having a charge over it.

The winners will be the creditors as they will get a higher figure, if budgie wins at a higher figure she gets to be saviour, she might not fancy tying up her cash for even longer, either way the flumps pay more for longer and we all get to watch.

[Keith_M]

It's sellable.

It's only UBIG's assets that are frozen. Tynecastle is not an asset of UBIG, it is owned by HMFC.


Are you sure about that? I thought the ongoing criminal investigation covered both of them (UKIO and UBIG), therefore frozen assets on all sides :confused:

[Weststandwanab]

The big U-Turn is on. Ian Murray (Fat MP version), Michael Stewart and a few others being rolled out on Reporting Scotland talking about the possibility of the Big L and how the fans will rally round. The panic is almost palpable.

April should be fun :greengrin Every month is fun with the Yams Administration.


What are the odds now on them failing to complete the season? Very little as the GFA will make sure the fixtures are completed.


They will see out the season. The second half of May might be tricky though :greengrin Days after the last game is my prediction for the big L.


I would have thought that, privately, a plan for liquidation would already be there, in principle at least. If not through BDO or FOH, at least by someone independent.

If there isn't, it's irresponsible. I understand it was done last December.

[greenpaper55]

AB might well buy the PBS, but it would be in a sale on the open market. She might not want to, of course, given that it might take her longer to get her money back.

As for the security, UKIO would get the first £6.8m (after the liquidator's fees) of that sale.

And, yes, they would lose their SPFL share. A Newco would have to apply to have the share transferred to them. That would result in a similar process to the so-called Sevco "5 way agreement", to make sure that all football debts were paid first.

Love the sound of that, this coming week could be fun, first they are relegated thinking they have a year in the first division then no meeting takes place with no new date set so it's goodnight Vienna, it would cheer me up no end.

[JeMeSouviens]

Is it sellable or frozen?

It's sellable. In the same way that any other of Hearts' assets are sellable, eg. Adam King's registration.

I would imagine that BDO and Budgie will try and cook up a quick business and assets transaction a la Sevco with Yams at all levels attempting to bully/intimidate other potential buyers of the site.

[CropleyWasGod]

Are you sure about that? I thought the ongoing criminal investigation covered both of them, therefore frozen assets on all sides :confused:

Hearts assets aren't frozen, though.

Hearts own the PBS, albeit with a security on it. That security would get paid (at least partly) from any sale.

[Keith_M]

Hearts assets aren't frozen, though.

Hearts own the PBS, albeit with a security on it. That security would get paid (at least partly) from any sale.


Does that mean that BDO could engage in a stitch up and sell it for a fraction of its true worth?

[CropleyWasGod]

I think this is right, all budgie would be doing is bidding with her own money for the whole shooting match up to what she thought it was worth or the original £2.5m if no one was likely to gazump it, if the figures went beyond that she could probably bid more and still get the flumps to pay her back for the privilege of her owing the club and having a charge over it.

The winners will be the creditors as they will get a higher figure, if budgie wins at a higher figure she gets to be saviour, she might not fancy tying up her cash for even longer, either way the flumps pay more for longer and we all get to watch.

There is another possibility, of course, that an open sale might result in a lower price. If AB is the only bidder, and she knows that, there's nothing to stop her buying it for even less.

That way, she wins, and UKIO lose out.

[nribs]

There is another possibility, of course, that an open sale might result in a lower price. If AB is the only bidder, and she knows that, there's nothing to stop her buying it for even less.

That way, she wins, and UKIO lose out.is this actually likely though??

[CropleyWasGod]

Does that mean that BDO could engage in a stitch up and sell it for a fraction of its true worth?

It's "true worth" is what someone pays for it. If AB is the only bidder, and she bids say, £1m, that's what it's worth.

That said, it can't follow the Sevco model. Those assets were never put on the market the way the PBS would have to be, so I don't think the "stitch up" that you're suggesting could happen.

[CropleyWasGod]

is this actually likely though??

Probably not, but one must entertain the possibility :greengrin .....

[Kato]

:confused:Wasn't Hubris that South American guy who earned £20k a week that Vlad loaned them from Kaunus but never kicked a ball?

Yup, Macho Hubris.

[Bostonhibby]

There is another possibility, of course, that an open sale might result in a lower price. If AB is the only bidder, and she knows that, there's nothing to stop her buying it for even less.

That way, she wins, and UKIO lose out.

Absolutely right, all about the audience bidding for the assets, the lands got to be worth more than £2.5m and it looks like more than a few Lithuanian creditors are smelling blood.

The delay created by hanging around like a bad smell in the SPL looks like it could come back to haunt them as the land value market improves and the Lithuanians begin to see through the haze created by the apparently generous and early one and only bid. Whatever, the future hardly looks like the fan ownership model they all saved up for :greengrin

[CropleyWasGod]

Absolutely right, all about the audience bidding for the assets, the lands got to be worth more than £2.5m and it looks like more than a few Lithuanian creditors are smelling blood.

The delay created by hanging around like a bad smell in the SPL looks like it could come back to haunt them as the land value market improves and the Lithuanians begin to see through the haze created by the apparently generous and early one and only bid. Whatever, the future hardly looks like the fan ownership model they all saved up for :greengrin

Are you trying to say that Massone isn't a Jambo? :devil:

[Bostonhibby]

Yup, Macho Hubris.

Big nose and dodgy haircut? or was that the other one?:greengrin

[Bostonhibby]

Are you trying to say that Massone isn't a Jambo? :devil:

Not at all, he looks like he has bumped as many charities as they have, and god knows how many flat screen TV's he has ran off with down the years, allegedly.

[nribs]

Serious question but if the big L happens how much money is made and by whom from all the diddies. All money less a small admin charge has to be given back. Surely there must be a fair amount of intrest accrued so far? And what is a small admin charge??

[Shore Thing]

Re: how much is Tynecastle worth -

http://www.edinburghnews.scotsman.com/news/transport/edinburgh-house-prices-to-soar-along-tram-route-1-3359043 (http://www.edinburghnews.scotsman.com/news/transport/edinburgh-house-prices-to-soar-along-tram-route-1-3359043)


Property experts have suggested homeowners within a mile radius of the tram route will see property prices rise by as much as 15 per cent along the route.


I would estimate that the soon-to-be-available-on-the-open-market land must be no more than 500m from the new Murrayfield stadium tram stop

It would be a naive liquidator who sells prime land for a knockdown price...

[CropleyWasGod]

Serious question but if the big L happens how much money is made and by whom from all the diddies. All money less a small admin charge has to be given back. Surely there must be a fair amount of intrest accrued so far? And what is a small admin charge??

I suspect that, in that event, FOH would change their constitution to allow the diddies (the ones that wanted to) to contribute to the new club. If it was, say, Massone.... that would be none of them. :greengrin

"Small admin charges"...... ha! Who can say? :cb

[Weststandwanab]

There is another possibility, of course, that an open sale might result in a lower price. If AB is the only bidder, and she knows that, there's nothing to stop her buying it for even less.

That way, she wins, and UKIO lose out. I think that has been the plan all along

The recent sale of the school for such a low amount is part of this.


is this actually likely though?? Possibly

[Gettin' Auld]

Tick Tock, Tick Tock, Tick Tock.........KABOOM!!!

It's been a lengthy wait, but at long last it looks like the Grim Reaper is about to kick the front door in at the PBS ................. Oh Ya ****in' Dancer!!!

GIRUY Yams!!!

:greengrin

[bingo70]

Whats the process if it comes clear after the 7th theres no resolution imminent?

Liquidation on the 8th or is there likely to be further deadlines set after this?

[Ozyhibby]

Whats the process if it comes clear after the 7th theres no resolution imminent?

Liquidation on the 8th or is there likely to be further deadlines set after this?

Usually, once a decision is made to liquidate, it happens that day.

[blackpoolhibs]

Maybe if STF bought the whole shambles, and saved it for the community. Then put Rod bloody Petrie in charge of it, perhaps then we'd have a chance of getting one over them now and again. :rolleyes:

[Springbank]

It's sellable.

It's only UBIG's assets that are frozen. Tynecastle is not an asset of UBIG, it is owned by HMFC.

Thanks - that explains it.
Cheers.

[GREEN WARLORD]

Maybe if STF bought the whole shambles, and saved it for the community. Then put Rod bloody Petrie in charge of it, perhaps then we'd have a chance of getting one over them now and again. :rolleyes:

Maybe if he didn't, they would just die.

[blackpoolhibs]

Maybe if he didn't, they would just die.

Thats my favorite option. :wink:

[Mikey]

Whats the process if it comes clear after the 7th theres no resolution imminent?

Liquidation on the 8th or is there likely to be further deadlines set after this?

They'll see out the season.

[bingo70]

They'll see out the season.

Thats why i asked, other poster suggesting liquidation would happen immediately. Surely tge fact theyre a football club wouldnt make them above normal financial laws/processes?

[c31]

Why is there more than 50% of people who voted on this thread want these tramps to survive?

[Mikey]

Thats why i asked, other poster suggesting liquidation would happen immediately. Surely tge fact theyre a football club wouldnt make them above normal financial laws/processes?

Liquidation will happen immediately, but BDO and the footballing authorities won't let it happen until the last game has been played. They'll make sure they limp along so the season is completed.

I've been saying this for some time now.

It's game on once the final whistle goes on the last day though :greengrin

[CropleyWasGod]

Thats why i asked, other poster suggesting liquidation would happen immediately. Surely tge fact theyre a football club wouldnt make them above normal financial laws/processes?

To be clear, if they announce liquidation, they have to stop trading immediately.

What Mikey is saying is that, in his opinion, they will make it to the end of the season before they make that call. It's one I share.

[Sergey]

They'll see out the season.

I agree. They need circa £600k to get them to the seasons end then that's when the plug will be pulled. Nothing is going to be agreed in Lithuania between now and then and BDO (given their experience with Portsmouth) will probably already know the game is as good as over.

They're not just dealing with one face any more - as Adomonis isn't the one who has the final say-so. There's the good folks at the Lithuanian State Insurance Dept who hold the majority vote on the Ukio Bankas creditors committee and there's Vytautas Sinius and his team at Siauliu Bank who know the deal is wrong in too many ways. They are probably on both the creditors lists of UBIG and Ukio and will want every last Lita that is owed.

The Yams are way-way down the pecking-order in the broad scheme of things and an email from Pishy Breeks and the Lith ambassador will be laughed all the way from Kaunas to Vilnius and back.

Also, lest we forget, all of UBIG's assets are still frozen.

[CropleyWasGod]

Why is there more than 50% of people who voted on this thread want these tramps to survive?

Because that's democracy? :wink:

[Weststandwanab]

To be clear, if they announce liquidation, they have to stop trading immediately.

What Mikey is saying is that, in his opinion, they will make it to the end of the season before they make that call. It's one I share. Indeed and they would have to consider returning the advance they received unless the got to the end of the last league game.


Because that's democracy? :wink: And because we want to see this suffering continue for the Famous,

[Jim44]

Why is there more than 50% of people who voted on this thread want these tramps to survive?


Because that's democracy? :wink:

It would be interesting to refresh the poll to see how much folk have changed their opinions. :dunno:

[Jim44]

The Jambos are discussing the Celtic view of their situation - http://videocelts.com/2014/03/blogs/hearts-unable-to-fight-off-liquidation?

[Mikey]

It would be interesting to refresh the poll to see how much folk have changed their opinions. :dunno:

I think people have different interpretations of "getting away with it". I wouldn't be too impressed with anything less than League 2 and losing the PBS but that still wouldn't be enough for some.

There will be a team called Hearts (well, referred to as Hearts by the MSM) playing in maroon in some league and in some stadium next season. That you can be pretty sure of.

[3pm]

I think people have different interpretations of "getting away with it". I wouldn't be too impressed with anything less than League 2 and losing the PBS but that still wouldn't be enough for some.

There will be a team called Hearts (well, referred to as Hearts by the MSM) playing in maroon in some league and in some stadium next season. That you can be pretty sure of.

Happy with that. Just want them to fold though.

[Ronniekirk]

I agree. They need circa £600k to get them to the seasons end then that's when the plug will be pulled. Nothing is going to be agreed in Lithuania between now and then and BDO (given their experience with Portsmouth) will probably already know the game is as good as over.

They're not just dealing with one face any more - as Adomonis isn't the one who has the final say-so. There's the good folks at the Lithuanian State Insurance Dept who hold the majority vote on the Ukio Bankas creditors committee and there's Vytautas Sinius and his team at Siauliu Bank who know the deal is wrong in too many ways. They are probably on both the creditors lists of UBIG and Ukio and will want every last Lita that is owed.

The Yams are way-way down the pecking-order in the broad scheme of things and an email from Pishy Breeks and the Lith ambassador will be laughed all the way from Kaunas to Vilnius and back.

Also, lest we forget, all of UBIG's assets are still frozen.
Thank goodness for those Pesky Frozen Assets ,nice to know some things don't change .lets hope that's still the case at the next Derby

[chrisski33]

Im so peeved they are facing liquidation but yet they are able to beat us. Im sick of this thread lol please hearts die and disappear!

[CropleyWasGod]

The Jambos are discussing the Celtic view of their situation - http://videocelts.com/2014/03/blogs/hearts-unable-to-fight-off-liquidation?

And they think we have green-tinted specs? :rolleyes:

[GreenLake]

There is another possibility, of course, that an open sale might result in a lower price. If AB is the only bidder, and she knows that, there's nothing to stop her buying it for even less.

That way, she wins, and UKIO lose out.

At an open sale the holder of the security can outbid the lowball bidder and "pay" itself the purchase price. The good bank which owns the Ukio/UBIG assets should want to make the PBS a flat pad and hold it to reap a significant profit in the future. That is what banks that are profitable do and they are in no rush. Ukio's and UBIG's assets have probably already been sold at a fraction of the cost and thus to some other bank that is looking to make fat banker profits over time (e.g. Sauliu Bank who are stable and not in financial stress?). The laugh might well be that the Yams and the PBS have already been shifted for a fraction of $2.5m to another private Lithuanian bank. Checkmate! :greengrin

:lolyam:

[CropleyWasGod]

At an open sale the holder of the security can outbid the lowball bidder and "pay" itself the purchase price. The good bank which owns the Ukio/UBIG assets should want to make the PBS a flat pad and hold it to reap a significant profit in the future. That is what banks that are profitable do and they are in no rush. Ukio's and UBIG's assets have probably already been sold at a fraction of the cost and thus to some other bank that is looking to make fat banker profits over time (e.g. Sauliu Bank who are stable and not in financial stress?). The laugh might well be that the Yams and the PBS have already been shifted for a fraction of $2.5m to another private Lithuanian bank. Checkmate! :greengrin

:lolyam:

Sorry, no :greengrin

UKIO, being in admin, can't buy new assets. Your scenario is too much like "we owe it to ourselves".

[jdships]

Cue the entry of Salmond with a " Political " plea to save a "Scottish Sporting Institution "
" You heard it here first "

Had a phone call from a friend who is an SNP "Insider" (Aberdeen ST holder) at 21.30 suggesting this could " seriously be on the cards " !!!:na na:

[Ozyhibby]

Sorry, no :greengrin

UKIO, being in admin, can't buy new assets. Your scenario is too much like "we owe it to ourselves".

And Ubig can't sell as they're frozen.

[GreenLake]

Sorry, no :greengrin

UKIO, being in admin, can't buy new assets. Your scenario is too much like "we owe it to ourselves".

Thanks CWG, for destroying my Monday fantasy! :greengrin

[Danderhall Hibs]

I caught ten minutes of Radio Scotland when I was in the car tonight - it was either the boy from BDO (Bajillions or whatever his name is) or Ian Murray MP - he seemed to be saying the Lithuanians have no option but to take the £2.5m. If they don't they'll get nothing or some such.

[Ozyhibby]

The Jambos are discussing the Celtic view of their situation - http://videocelts.com/2014/03/blogs/hearts-unable-to-fight-off-liquidation?

That article is as bad as anything Banderson ever wrote.
No chance of any of it happening. And they mix up their Ukio's and Ubigs.

[Ozyhibby]

Cue the entry of Salmond with a " Political " plea to save a "Scottish Sporting Institution "
" You heard it here first "

Had a phone call from a friend who is an SNP "Insider" (Aberdeen ST holder) at 21.30 suggesting this could " seriously be on the cards " !!!:na na:

People keep trying to associate Alex Salmond with this? He has shown zero interest so far. The political interference has come from the Labour party.

[GreenLake]

Cue the entry of Salmond with a " Political " plea to save a "Scottish Sporting Institution "
" You heard it here first "

Had a phone call from a friend who is an SNP "Insider" (Aberdeen ST holder) at 21.30 suggesting this could " seriously be on the cards " !!!:na na:

Mair like Scottish Sporting Prostitution

[The Gorf]

Why is there more than 50% of people who voted on this thread want these tramps to survive?
Not guilty m'lud. :wink:

[Jim44]

Cue the entry of Salmond with a " Political " plea to save a "Scottish Sporting Institution "
" You heard it here first "

Had a phone call from a friend who is an SNP "Insider" (Aberdeen ST holder) at 21.30 suggesting this could " seriously be on the cards " !!!:na na:

A plea to whom?

[jdships]

People keep trying to associate Alex Salmond with this? He has shown zero interest so far. The political interference has come from the Labour party.

What do you base that statement on ?.
It is an accepted fact that he is regular contact with H o H and Mr Murray .
He supposedly bought umpteen ST's when called upon to do so :greengrin.

I have no interest in either SNP/Labour party by the way !!

[jdships]

A plea to whom?

Eck has friends " in high places " remember !!!

[SuperAllyMcleod]

I think people have different interpretations of "getting away with it". I wouldn't be too impressed with anything less than League 2 and losing the PBS but that still wouldn't be enough for some.

There will be a team called Hearts (well, referred to as Hearts by the MSM) playing in maroon in some league and in some stadium next season. That you can be pretty sure of.

You are thinking of Kelty Hearts - their attendances may rise if the Jambos can work out where Kelty is!

[0762]

I caught ten minutes of Radio Scotland when I was in the car tonight - it was either the boy from BDO (Bajillions or whatever his name is) or Ian Murray MP - he seemed to be saying the Lithuanians have no option but to take the £2.5m. If they don't they'll get nothing or some such.


Im no accountant but how on earth do the Liths get nothing if they don't accept the CVA? Ok they might get zip for the Yams (a bust football club) but surely they still hold the land that even allowing for the removal of the asbestos must surely be worth more than £2.5m. There was/is a site being marketed further along Gorgie that's just as big at Tynie for significantly more than this! What's to stop them saying yes to a sale of the football club and no to the transfer of the land? They'd be bonkers to accept only £2.5m

[tamig]

Sorry, no :greengrin

UKIO, being in admin, can't buy new assets. Your scenario is too much like "we owe it to ourselves".

But surely there's nothing to stop one of the other creditors, e.g., Siauliu Bank, bidding for the PBS, sitting on the asset and flogging it at a (hopefully) decent profit some time down the line?

[tamig]

Im no accountant but how on earth do the Liths get nothing if they don't accept the CVA? Ok they might get zip for the Yams (a bust football club) but surely they still hold the land that even allowing for the removal of the asbestos must surely be worth more than £2.5m. There was/is a site being marketed further along Gorgie that's just as big at Tynie for significantly more than this! What's to stop them saying yes to a sale of the football club and no to the transfer of the land? They'd be bonkers to accept only £2.5m

It's pish - and it's hacked a lot of folk here off. If they are liquidated the assets are flogged to the highest bidder. There's a good chance that's likely to be more than 2.5M for the PBS alone. It's not guaranteed that they will get more than what's on offer in the CVA of course.

[greenginger]

http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3Dukio%2Bbankas%2B15min%26client%3Dfire fox-a%26hs%3Di4R%26rls%3Dorg.mozilla:en-US:official%26channel%3Dsb&rurl=translate.google.com&sl=lt&u=http://www.15min.lt/naujiena/verslas/bendroves/bankroto-administratorius-gintaras-adomonis-ukio-banko-turto-realizavimas-lietuvoje-gali-uztrukti-iki-dveju-metu-663-345498&usg=ALkJrhhBz9CO7X1LxBoCMy8weXEuUpHpHg

The Ukio Bankas admin was always expecting a lengthy process.

No rush to dispose of the Wonga Dome for the first offer.

[Danderhall Hibs]

Im no accountant but how on earth do the Liths get nothing if they don't accept the CVA? Ok they might get zip for the Yams (a bust football club) but surely they still hold the land that even allowing for the removal of the asbestos must surely be worth more than £2.5m. There was/is a site being marketed further along Gorgie that's just as big at Tynie for significantly more than this! What's to stop them saying yes to a sale of the football club and no to the transfer of the land? They'd be bonkers to accept only £2.5m

No idea mate - he said something along the lines of that if they don't accept the cva then they'll get less that £2.5m.

Be interested to hear our experts thoughts.

[CB_NO3]

I still think they will get out this one. I think the Liths are looking for more cash. The Ukio team are obviously willing to play ball, if not why not call in all their debt from Hearts now? Hearts obviously could not afford to pay it meaning the security of Tynie would fall into the Liths right away and they would own it and could sell it seperately.

[SurferRosa]

I still think they will get out this one. I think the Liths are looking for more cash. The Ukio team are obviously willing to play ball, if not why not call in all their debt from Hearts now? Hearts obviously could not afford to pay it meaning the security of Tynie would fall into the Liths right away and they would own it and could sell it seperately.

The UKIO admin might be willing but ultimately it`s up to UKIO`s creditors to accept the CVA and they appear to be unhappy to just hand over the lot for a pittance. They seem to have cottoned on to the fact they`re being scammed....and they dont like it.

[Criswell]

Are we to believe that relevant parties in Lithuania are actually trying to get a better deal for the swindled creditors. Shurely Shome Mishtake! Don't they realise the future of a bankrupt foreign Football Club in a distant land is of far more importance than their pathetic life savings. Some people eh? No sense of perspective. Don't they know they saved the world in 1914-18. Shameful!

[CB_NO3]

The UKIO admin might be willing but ultimately it`s up to UKIO`s creditors to accept the CVA and they appear to be unhappy to just hand over the lot for a pittance. They seem to have cottoned on to the fact they`re being scammed....and they dont like it.
Sorry, thats what I meant. I worded that wrong. Hearts are due Ukio 15 million and UBIG 10 million (I might have the figures the wrong way round). So why dont the Ukio admistrators phone Hearts tomorrow and say we are calling in all the debt you are due us. You have till the end of the month to pay the full amount or we will take Tynecastle stadium from you. Obviously they have not done that and dont look like they are going to do that which suggests to me they are still looking to do a deal via a CVA.

[SurferRosa]

Sorry, thats what I meant. I worded that wrong. Hearts are due Ukio 15 million and UBIG 10 million (I might have the figures the wrong way round). So why dont the Ukio admistrators phone Hearts tomorrow and say we are calling in all the debt you are due us. You have till the end of the month to pay the full amount or we will take Tynecastle stadium from you. Obviously they have not done that and dont look like they are going to do that which suggests to me they are still looking to do a deal via a CVA.

Yep, they know they cant possibly get all the cash they`re due so they`ll deal by way of a CVA. There appears to be creditors though that feel 2.5 million is taking the piss.....and i`d agree. I think the thing is though, if i`ve read earlier posts by CWG and others correctly, they cant just immediately re-negotiate a new offer. If those creditors decide not to accept the deal then the CVA is rejected and time is not on Hearts side. If those businesses owed money stand their ground then it`s into the liquidizer Hearts will go. It`s already taken months to get to this stage and they simply dont have the cash or the time to go through it again.

[DC_Hibs]

I'd have thought that this derisory bid would have been booted into touch a long time back if it was going to be rejected so I remain sceptical that this won't be another hurdle passed by these jammy bst@rdos.

Preparing for the worst as there's been too many boots in the stanes!!

[Brunswickbill]

Is it significant that Iwasanmp has stood back from the yam debacle and Pishy breeks is suddenly fronting things up. Maybe I wasanmp has more to lose than his lordship now that they know that it's all going t*ts up. Also I suspect that Big Eck will be trying to use his influence but he isn't stupid enough to make it public.


We have seen that the great Scottish press have done no investigation of the Yam financial collapse and have simply printed whatever FOH/BDO fed them. Now that they are talking about the big L can we assume that this is being fed to them by FOH/BDO to prepare the yams for the inevitable?


Under the current cvas UBIG creditors get £50K for the shares and UKIOS £2.5M. If they are heading towards liquidation, because UKIOS creditors want their £6.8M for the security on PBS, presumably Bidco isn't going to pay £50K for shares in a liquidated company ? Is this anything to do with the two being conflated which one of the press/BBC articles referred to?


Looking at the £50K for the shares...FOH have DDs from 8000 fans. If they are paying on average only £10 a month, the CVA is offering less than one month's contribution for 50% of the shares in the club. That's not thinking about any other income or value. How could anyone see this as a good offer?


If they are liquidated, we know that PBS will be offered for sale but presumably the club, and other bits and pieces will be offered for sale. We can only guess what these will be worth but presumably more than £50K. On this basis you have to wonder whether anyone representing the creditors could accept the cvas. From what CWG says it is either accept the CVAs or liquidate. Have BDO backed themselves into a cul-de-sac with a steep drop At the end?


Don't know if any of this makes sense. I've had a few Scotchs while I've been catching up.

[Sanger]

Sorry, thats what I meant. I worded that wrong. Hearts are due Ukio 15 million and UBIG 10 million (I might have the figures the wrong way round). So why dont the Ukio admistrators phone Hearts tomorrow and say we are calling in all the debt you are due us. You have till the end of the month to pay the full amount or we will take Tynecastle stadium from you. Obviously they have not done that and dont look like they are going to do that which suggests to me they are still looking to do a deal via a CVA.

Of course there is the money that UBIG owe UKIO. Vlad borrowed money from Ukio to finance Hearts. Total debt run up is £70 million of which £40 million was converted to now worthless shares or written off. The bulk of £40 million must have come from UKIO's loans to UBIG although some would have come from UBIG investors now the creditors. No wonder UKIO/UBIG are not going to accept a paltry £2.5 million for a £70 million loss!

[bingo70]

Back page of the sun today is a topper. (Sorry, cant post link on my phone)

Not telling us anything we didnt know already but now the msm are catching on to how serious this is i get the impression its about to come to a head very shortly

[macca70]

Back page of today's Daily Record.

Realisation of the seriousness of their situation might actually kick in today.

http://www.dailyrecord.co.uk/sport/football/football-news/hearts-administrator-bryan-jackson-draws-3320338

[Mon Dieu4]

Back page of today's Daily Record.

Realisation of the seriousness of their situation might actually kick in today.

http://www.dailyrecord.co.uk/sport/football/football-news/hearts-administrator-bryan-jackson-draws-3320338

That’s a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme.

Is he having a laugh with the above statement? pots and kettles Brian!!

[marinello59]

Back page of today's Daily Record.

Realisation of the seriousness of their situation might actually kick in today.

http://www.dailyrecord.co.uk/sport/football/football-news/hearts-administrator-bryan-jackson-draws-3320338

This sort of language from a close source should win the Lithuanians round though. Or maybe not. :greengrin


That’s a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme.

[Ferry Hibbee]

The Yams will be thinking all is still Barry, nice try Hobos look at the date of this article. You can't fool us. Lol

:flag:

[stirling_hibee]

Back page of today's Daily Record.

Realisation of the seriousness of their situation might actually kick in today.

http://www.dailyrecord.co.uk/sport/football/football-news/hearts-administrator-bryan-jackson-draws-3320338

Got to love the cheek of the quote from Hearts below, not sure you can take the high ground on someone being dishonest and doing the right thing ya trumpets!!

“That’s a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme.

“The hope is that the transfer of shares will be rubber stamped on April 7. But that’s all it is – hope – because there seems to be an element of malice creeping into this.

“People are having to face up to the awful prospect of liquidation.

“There is a determination to fulfil all fixtures in the event of the worst-case scenario because it would be the right thing to do.”

[WHUHibs]

I don't want them liquidated yet as it would mean they won the last ever Derby! It would be better to do it after the next one :greengrin

[The Falcon]

It appears to me that a combination of FOH/Bidco have tried to pull a stroke on the Lith's and that is now dawning on the more alert of them. They have a combined offer of £2.5m plus a further £50k on the table and are now being told from all sides to accept it or they get nothing. Utter Bollocks.

Even if the liquidate the school of thought appears to be that Tynecastle itself will sell for significantly more than the £2.5m which would result in a net gain for the Lithuanian Govt who have bailed out UKIO. The Gunts can then scramble over whats left.

Deception and thieving till the very end. Its the Hearts way.

[ORAC]

The language being used in these statements now seems to be preparing the plums for the big L word. Reading between the lines, it looks like the plug is about to be pulled on our pink chums across the city.

Real shame!!!


Sent from the Tardis

[proud_and_green]

I don't want them liquidated yet as it would mean they won the last ever Derby! It would be better to do it after the next one :greengrin

Hmmm, you're an optimist then?

[CentreLine]

That’s a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme.

Is he having a laugh with the above statement? pots and kettles Brian!!

I can't see the Lithuanian people being too happy if they have seen that comment.

[Waxy]

I don't want them liquidated yet as it would mean they won the last ever Derby! It would be better to do it after the next one :greengrin
But we'd get a 3-0, so technically......

[GordonHFC]

Why don't they just die gracefully. If it were up to me the life support machine would be switched off, the plug pulled out and the fuse removed just to be certain.

[blackpoolhibs]

Why don't they just die gracefully. If it were up to me the life support machine would be switched off, the plug pulled out and the fuse removed just to be certain.

And just to be certain, i'd get a sharp knife and cut the plug off and then stab the *******s to death too.

[Waxy]

And if when they come back as zombiehurtz, oh the fun we'll have letting them know that they've never won the Scottish cup.

[Jim44]

p
I don't want them liquidated yet as it would mean they won the last ever Derby! It would be better to do it after the next one :greengrin

Put a sock in it. What's football got to do with our enjoyment?:greengrin

[Aldo]

How can anyone involved with the mob say that someone else is being discourteous or dishonest. Local businesses and charities and well as public monies (not paid for council tax, taxes etc). Aye a big laddie did it and ran away.... Really. Struggle to end of season and then pop. Get it roond ye

[Jim44]

I can't see the Lithuanian people being too happy if they have seen that comment.

I hope you're not suggesting that Sergay sends a link to his source in Lithuania.:greengrin

[steviehibsleith]

Page 49 of daily record "That's a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme"
Hopefully before any more meetings between BDO and our Lithuanian friends someone informs them exactly what our inbred neighbors really think of them.

[matty_f]

I hope you're not suggesting that Sergay sends a link to his source in Lithuania.:greengrin

We should all be doing that!

[Ryan91]

Walking back to the car after the derby I had to walk along Dalry past a ton of very smug puddle drinkers who gave the usual mutant rhetoric, which was responded to with assertions that I will have a club to support next season whilst they will not.

Looks like my assertions were indeed well founded.

[Kato]

Walking back to the car after the derby I had to walk along Dalry past a ton of very smug puddle drinkers who gave the usual mutant rhetoric, which was responded to with assertions that I will have a club to support next season whilst they will not.

Looks like my assertions were indeed well founded.
That is the bottom line in all this. Since Vlad arrived amid (correct) comments that he would run them into the ground the line Hearts fans have taken is that it's "hobo jealousy". Any dissent within their own rank, ranks has been quickly supressed. Now that the reality is about to hit they've started lashing out at the people they owe money to.

Zero common sense, zero humility and zero brains.

I personnaly think the pie-man and mercer share the blame for giving their fans a warped attitude as to their true status. They aren't a big club in any way and soon, they won't be a club at all.

[Glesgahibby]

Eck has friends " in high places " remember !!!
Billy Brown :greengrin

[AinsterHibs]

"BDO Preparing For Liquidation"
Love the title, only hope that this actually happens.

:tbgwa:GGTTH, eventually.:tbgwa:

[greenpaper55]

A wee reminder of the yams ability with numbers and i quote

http://www.hmfckickback.co.uk/public/style_images/JKB_2010/snapback.png (http://www.hmfckickback.co.uk/index.php?app=forums&module=forums&section=findpost&pid=4115148)Francis Albert, on 01 April 2014 - 12:58 AM, said:
FOH have been clear for some time they have over a million a year coming in , Ann Budge or no Ann Budge #2.5m doesn'tb look wildly gnerus but i think it will be enough,



There is 1 million banked already so we can give them 3.5 million if they ask for it.

[greenginger]

All this talk of liquidation for the Yams on April 1st. :greengrin


I wonder if any of the knuckle-draggers over on kickback are thinking that come mid-day someone will post April-Fool and it will be business as usual and the rubber stamp is just a box tick away.

[Glesgahibby]

I will say again,especially to our guests looking in.
This thread has been,
"THE ONLY TRUTHFUL DOCUMENTATION OF HEARTS DOWNFALL"
:hibees:hibees:hibees

[Speedway]

Sorry, I don't see the joy.

The asbestos and asbo filled club who started on minus fifteen, play kids, can't sign anyone and have 'strugglin'' on their management team go bust meaning we're short of even more cash and we STILL ****ing can't beat them.

Pull the plug on Hibs instead, move to straiton, call the new club Edinburgh United have them play in maroon and realise some fat tory's vision from years ago.

(Can you tell I'm not over Sunday yet?)

[Glesgahibby]

Sorry, I don't see the joy.

The asbestos and asbo filled club who started on minus fifteen, play kids, can't sign anyone and have 'strugglin'' on their management team go bust meaning we're short of even more cash and we STILL ****ing can't beat them.

Pull the plug on Hibs instead, move to straiton, call the new club Edinburgh United have them play in maroon and realise some fat tory's vision from years ago.

(Can you tell I'm not over Sunday yet?)
To use a Garry Locke phrase "this isn't a n excuse but"
"our hands are tied behind our back"when the officials quite blatantly where never going to allow us our day.

[Keith_M]

Hearts administrator Bryan Jackson draws up emergency scheme to keep Jambos playing for rest of season as liquidation looms (http://www.dailyrecord.co.uk/sport/football/football-news/hearts-administrator-bryan-jackson-draws-3320338)

Daily Record

[Saorsa]

Hearts administrator Bryan Jackson draws up emergency scheme to keep Jambos playing for rest of season as liquidation looms (http://www.dailyrecord.co.uk/sport/football/football-news/hearts-administrator-bryan-jackson-draws-3320338)

Daily Recordcopy and paste?

[Killiehibbie]

ANXIOUS administrator Bryan Jackson is drawing up emergency plans to keep Hearts playing for the rest of this season even if he is forced to call in the liquidators this month.
Record Sport understands BDO chief Jackson is now reluctantly preparing for a “worst-case scenario” after being left dismayed and perplexed by the latest move from Lithuania to stall on a deal to rescue the club through a CVA.
Hearts had expected to take a huge stride towards safety on Friday when creditors Ukio Bankas and UBIG were scheduled to rubber stamp the transfer of 80 per cent of the club’s shares to Edinburgh millionaire Ann Budge.
Not only did that plan fall through – with the meeting put back to April 7 – but Jackson was then blanked by the Lithuanians for 48 hours despite attempts to seek an explanation for this latest dramatic twist.
Now fears are escalating that the entire deal to haul Hearts back from the brink is about to collapse, leaving Jackson with no option but to wind the club up when it runs out of cash in little more than four weeks.
SPFL bosses accept Hearts may not be able to fulfil the rest of their fixtures.
One senior Hampden source last night said: “If Hearts are wound up and unable to continue playing this season then options would be open to the board although obviously no one wants it to come to that.”
However, Record Sport understands even in the event of liquidation, Jackson aims to come up with a contingency plan to limp Hearts over the finishing line on May 10.
A close source said: “The situation has worsened because of Friday. Nothing came back from Lithuania until Sunday night.
“That’s a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme.
“The hope is that the transfer of shares will be rubber stamped on April 7. But that’s all it is – hope – because there seems to be an element of malice creeping into this.
“People are having to face up to the awful prospect of liquidation.
“There is a determination to fulfil all fixtures in the event of the worst-case scenario because it would be the right thing to do.”
Michael Stewart: Tough decision must be made on Gary Locke's future (http://www.dailyrecord.co.uk/sport/football/football-news/hearts-face-hard-decision-over-3320717)Should Hearts be unable to complete their fixtures the SPFL board will face difficult decisions.
Under rule C53 all of Hearts’ results this season could be expunged – which would be good news for rivals Hibs.
Alternatively, the board could decide the results of any outstanding games. Typically this would see all remaining opponents awarded 3-0 wins.
But Jackson continues to lead the fight for survival.
Jeff Holmes/SNS Grouphttp://i2.dailyrecord.co.uk/incoming/article2106935.ece/ALTERNATES/s615/JS18607274-2106935.jpg
Administrator Bryan Jackson He has engaged with the Lithuanian and UK ambassadors in a bid to plead Hearts’ case ahead of the April 7 D-Day. He is also preparing to fly to Eastern Europe to help push the rescue package through.
A senior source inside Tynecastle told us: “It is now 50-50 as to whether this deal happens or not – whites of the eyes time.
“The ball is in the court of the Lithuanians. With every delay comes increased uncertainty.
“In terms of liquidity the club can continue until the end of April. But after that, with the season not finished, there is a question mark about what happens next.
“BDO have been pushing for these shares for 10 months now so this is going right down to the wire.”
Foundation of Hearts chairman Ian Murray said: “We are all worried. We want to get this over the line. It has been going on too long now.”


Must be an April fool, this can't possibly happen:greengrin

[Sir David Gray]

Every cloud does have a silver lining after all.

[Saorsa]

discourtesy and dishonesty :hilarious


:kettle:


here, away 'n' polish yer neck


http://www.homecareessentials.co.uk/acatalog/Brasso_1_Litre.jpg

[Tricla]

If their results get expunged do we claim a 100% record against them this season?

[NadeAteMyLunch!]

I'm sure calling them discourteous and dishonest will spark them into life and speed up the rubbing stamping process right enough

[PatHead]

Taking the emotions out of it and treating Hearts as an ordinary business, rather than a football club with a season to finish, I can't understand why BDO would make sure Hearts complete the season. Would BDO keep a toy shop trading because Christmas was 8 weeks away knowing it wouldn't make it to New Year? Doubt it.

If nothing happens on Monday why don't BDO pull the plug then? Surely it cannot be in the creditors interests to keep going and could BDO be in danger of being sued for trading whilst insolvent by the Liths?

In addition the timing would be perfect for SPFL as the split would be completed. No games would have been played post split meaning no-one would have to get their result cancelled and it wouldn't mess up the fixtures. The main losers would be Hibs as we would lose the gate from the final fixture.

Roll on Monday.

[Keith_M]

Sorry, I don't see the joy.

The asbestos and asbo filled club who started on minus fifteen, play kids, can't sign anyone and have 'strugglin'' on their management team go bust meaning we're short of even more cash and we STILL ****ing can't beat them.

Pull the plug on Hibs instead, move to straiton, call the new club Edinburgh United have them play in maroon and realise some fat tory's vision from years ago.

(Can you tell I'm not over Sunday yet?)


LTYF






:na na:

[Waxy]

To use a Garry Locke phrase "this isn't a n excuse but"
"our hands are tied behind our back"when the officials quite blatantly where never going to allow us our day.
Correct. Anytime there has been a big derby, they've been given outrageous decisions in thier favour.Anyone hear about when we could gave relegated them in 1977 only for them to equalise with a goal from a player metres offside? The cup final penalty that was nearer the stand than the penalty box.It never has been a level playing field in the Edinburgh derby. Clearly they have supporters inside.

[Keith_M]

If their results get expunged do we claim a 100% record against them this season?


Yep, as does everybody else.

Altogether now...


:singing:

"Three Nil,
Three Nil,
Three Nil,
Three Nil....."




:greengrin

[CropleyWasGod]

Taking the emotions out of it and treating Hearts as an ordinary business, rather than a football club with a season to finish, I can't understand why BDO would make sure Hearts complete the season. Would BDO keep a toy shop trading because Christmas was 8 weeks away? Doubt it.

If nothing happens on Monday why don't BDO pull the plug then? Surely it cannot be in the creditors interests to keep going and could BDO be in danger of being sued for trading whilst insolvent by the Liths?

In addition the timing would be perfect for SPFL as the split would be completed. No games would have been played post split meaning no-one would have to get their result cancelled and it wouldn't mess up the fixtures. The main losers would be Hibs as we would lose the gate from the final fixture.

Roll on Monday.

Probably because they have been given an advance on their SPFL money. In the event that they stopped trading, that would be repayable.

Enabling them to trade until the end of the season would avoid that, it would also give them some additional income, as well as entitling them to a further SPFL payout. That would make sure all post-admin bills were paid.

[PatHead]

Probably because they have been given an advance on their SPFL money. In the event that they stopped trading, that would be repayable.

Enabling them to trade until the end of the season would avoid that, it would also give them some additional income, as well as entitling them to a further SPFL payout. That would make sure all post-admin bills were paid.

Would BDO be liable for any post admin debts?

[Keith_M]

Correct. Anytime there has been a big derby, they've been given outrageous decisions in thier favour.Anyone hear about when we could gave relegated them in 1977 only for them to equalise with a goal from a player metres offside? The cup final penalty that was nearer the stand than the penalty box.It never has been a level playing field in the Edinburgh derby. Clearly they have supporters inside.


Yep, but they still got relegated that season.


That's now two seasons in a row where we've not been awarded a perfectly legitimate goal against them. Hibs have been dreadful this season but it really doesn't help when you have such blatantly wrong refereeing decisions go against you.

[Mikey]

Probably because they have been given an advance on their SPFL money. In the event that they stopped trading, that would be repayable.

Enabling them to trade until the end of the season would avoid that, it would also give them some additional income, as well as entitling them to a further SPFL payout. That would make sure all post-admin bills were paid.

It could also affect BDO's chances of getting future business if they withdraw a club mid season.

Patience folks, mid May will come round soon enough :greengrin

[PatHead]

It could also affect BDO's chances of getting future business if they withdraw a club mid season.

Patience folks, mid May will come round soon enough :greengrin

Surely that is an unprofessional attitude and could get them into trouble with the creditors if they cannot prove they are acting in creditors interests when the firm is insolvent.

[Speedway]

To use a Garry Locke phrase "this isn't a n excuse but"
"our hands are tied behind our back"when the officials quite blatantly where never going to allow us our day.

They can chalk off 1 offside goal, they'll struggle to chalk off 4 and keep their careers.

If we'd have gone out hell bent on destroying them, the officials would have been able to do nothing about it.

The last winner we had in charge was John Collins who sadly couldn't spot a player with the assistance of the global MH370 search crews. What he could do was prepare a team to destroy the opposition. His cup final preparations go down as the greatest modern day case study in how to get Hibs to win.

Jumbo and Strugglin' were in charge of the opposition. Final score 5-1 Hibs.

No messin'.

Butcher is proving himself to be a pussy.

[Mikey]

Surely that is an unprofessional attitude and could get them into trouble with the creditors if they cannot prove they are acting in creditors interests when the firm is insolvent.

Maybe so, but it would benefit the football club and that's where they get their fees from!

You have a valid point about pulling the plug after the split though. It would give them more time to get something in place for next season.

[#FromTheCapital]

They can chalk off 1 offside goal, they'll struggle to chalk off 4 and keep their careers.

If we'd have gone out hell bent on destroying them, the officials would have been able to do nothing about it.

The last winner we had in charge was John Collins who sadly couldn't spot a player with the assistance of the global MH370 search crews. What he could do was prepare a team to destroy the opposition. His cup final preparations go down as the greatest modern day case study in how to get Hibs to win.

Jumbo and Strugglin' were in charge of the opposition. Final score 5-1 Hibs.

No messin'.

Butcher is proving himself to be a pussy.

Either that or maybe we just had a much better squad back then.

[GreenLake]

They can chalk off 1 offside goal, they'll struggle to chalk off 4 and keep their careers.

If we'd have gone out hell bent on destroying them, the officials would have been able to do nothing about it.

The last winner we had in charge was John Collins who sadly couldn't spot a player with the assistance of the global MH370 search crews. What he could do was prepare a team to destroy the opposition. His cup final preparations go down as the greatest modern day case study in how to get Hibs to win.

Jumbo and Strugglin' were in charge of the opposition. Final score 5-1 Hibs.

No messin'.

Butcher is proving himself to be a pussy.

I think that Alasdair Ross's career is already on the skids. No more jolly's to far off lands I suspect. He can pretty much do as he pleases with nothing much to lose.


From http://footballrefereeing.blogspot.com/2013/09/changes-in-officiating-teams.html#.UzqLj9wqY_c

More interesting things are happening in Scottish refereeing: Derek Rose and Alasdair Ross of Scotland have not been invited to the seminar. Both committed crucial mistakes in Borussia Dortmund - Málaga CF in the Champions League quarterfinals, where specially Ross revealed a lack of alertness and mental concentration on his duty in extremely tense moments. This probably led to a loss of trust in this assistant referee (who never came across any controversy before and actually performed very well at Euro 2012). For this reason, Massimo Busacca, head of FIFA Refereeing, erased Alasdair Ross from the short list for the next World Cup as well, while Rose may stay. Alan Mulvanny replaces Ross on the pre-list. Alan Mulvanny attended the seminar which is a clear hint at a change in the Scottish team also on UEFA level. Concerning Alasdair Ross, the decision to drop him might be logical, but is and stays brutal.

Not as brutal as the blunder he made chalking off Forster's excellent goal.

[Aldo]

They can chalk off 1 offside goal, they'll struggle to chalk off 4 and keep their careers. If we'd have gone out hell bent on destroying them, the officials would have been able to do nothing about it. The last winner we had in charge was John Collins who sadly couldn't spot a player with the assistance of the global MH370 search crews. What he could do was prepare a team to destroy the opposition. His cup final preparations go down as the greatest modern day case study in how to get Hibs to win. Jumbo and Strugglin' were in charge of the opposition. Final score 5-1 Hibs. No messin'. Butcher is proving himself to be a pussy.

You are hurting speedars mate.

[YehButNoBut]

Think Bryan Jackson is really Dr Evil and it's all been a master plan to make as much for BDO from Hearts and then liquidate, below is the latest BDO meeting after it was announced that the big L is likely.


https://www.youtube.com/watch?v=JfUM5xHUY4M

[Hexham Hibee]

“That’s a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme."

Isn't that racist or at least xenophobic. How to make friends and influence people!

Blame shifting, pass the buck, doing our best but our hands are tied, it winsae me honest. No surprise there but as a previous poster hinted they have some brass neck. Yet again they cannot own up that they shafted creditors, charities and scottish football in general.

[Hibernia Na Eir]

I'm sure calling them discourteous and dishonest will spark them into life and speed up the rubbing stamping process right enough

Two words in there that helped them win silverware under the previous regime.

Take your time Vilnius boys and girls.

The Beast is nearing it's ugly end.

[IWasThere2016]

Think Bryan Jackson is really Dr Evil and it's all been a master plan to make as much for BDO from Hearts and then liquidate, below is the latest BDO meeting after it was announced that the big L is likely.


https://www.youtube.com/watch?v=JfUM5xHUY4M

:top marks - borrowed for ma FaceBook. Cheers :thumbsup:

[lord bunberry]

Why don't they just die gracefully. If it were up to me the life support machine would be switched off, the plug pulled out and the fuse removed just to be certain.

They've been undignified in life and they'll die the same way.

[mjhibby]

Yep, but they still got relegated that season.


That's now two seasons in a row where we've not been awarded a perfectly legitimate goal against them. Hibs have been dreadful this season but it really doesn't help when you have such blatantly wrong refereeing decisions go against you.

As with leighs goal we didnt get last season the fact of the matter is the game should have been 1-1 irrelevant how bad we played.They are going down,probably tomorrow night anyway,so in the grand scheme of things it doesnt really mean a lot.Be nice if the linesman apologised for the error but it seems only epl officials do that.Still nice to see all the jambos getting excited and ignoring the fact that their team could be tatas in a few weeks. Ta lk about fiddling while rome burns.They deserve evrything thats coming to them and if they do get liquidated then im sure the press will be full of sympathy for a team trying to pay back less than a tenth they owe creditors.They are such a joke of a club.

[Jim44]

Probably because they have been given an advance on their SPFL money. In the event that they stopped trading, that would be repayable.

Enabling them to trade until the end of the season would avoid that, it would also give them some additional income, as well as entitling them to a further SPFL payout. That would make sure all post-admin bills were paid.

............. plus it it would possibly put them in a better light when they have to apply for membership of the SPFL.

[Jim44]

How pathetic is THIS (http://www.scotsman.com/sport/football/spfl/hearts-seek-diplomatic-aid-as-crisis-point-nears-1-3359886)? What strings do they actually think these people can pull? I think Jackson's been rubbing shoulders with too many 'important :rotflmao: politicians' of late.

[Ozyhibby]

If they fail to finish the season it will be harder to try and claim they are the same club.

[brog]

Probably because they have been given an advance on their SPFL money. In the event that they stopped trading, that would be repayable.

Enabling them to trade until the end of the season would avoid that, it would also give them some additional income, as well as entitling them to a further SPFL payout. That would make sure all post-admin bills were paid.

As CWG says. Yams have already received £824k from SPFL. To quote BDO, These funds are contingent on the club completing the 2013/14 season. IMO, Yams may go into liquidation pre May 10 but may try to complete their fixtures. This appears a contradiction in terms as liquidation really means life support immediately shut off but I think SPFL may move the goalposts to avoid the administrative carnage that would arise from Yams failing to finish the season.

[CropleyWasGod]

As CWG says. Yams have already received £824k from SPFL. To quote BDO, These funds are contingent on the club completing the 2013/14 season. IMO, Yams may go into liquidation pre May 10 but may try to complete their fixtures. This appears a contradiction in terms as liquidation really means life support immediately shut off but I think SPFL may move the goalposts to avoid the administrative carnage that would arise from Yams failing to finish the season.

Not sure they can do that. It's not the SPFL that would lay down or change the rules. If they go into liquidation, they have to stop trading immediately.

Or have I misunderstood you?

[Waxy]

Maybe it's too late whatever happens. Looks like thats them flatlining.

[Mikey]

If things are really bad then Pathead may be onto something. Hearts will already be down and they're not needed for the last round of fixtures.

I still think they'll see out the season but you never know............

[Ozyhibby]

Bryan Jackson on Radio Scotland at 12

[Mikey]

And when they do get liquidated it'll be.......

Big Team No Cups
Wee Team Both Cups

[lord bunberry]

And when they do get liquidated it'll be.......

Big Team No Cups
Wee Team Both Cups

One team

[3pm]

This thread has had more up and downs than a Michael Nelson passing school.

The cynic in me is expecting another turn for the worse!

[HUTCHYHIBBY]

This thread has had more up and downs than a Michael Nelson passing school.

The cynic in me is expecting another turn for the worse!

Cannae think of too many downs for us so far on the thread.

[Golden Bear]

This thread has had more up and downs than a Michael Nelson passing school.

The cynic in me is expecting another turn for the worse!

His next pass will be his first one

:wink:

[3pm]

Cannae think of too many downs for us so far on the thread.

There are times when it has looked good but some good news for they pricks has been leaked. Maybe it's never been as bad as I have thought!

[Sir David Gray]

I wish they would just hurry up and die.

[Hibby70]

And when they do get liquidated it'll be.......

Big Team No Cups
Wee Team Both Cups

Or

5-1 You never won 5-1

[nribs]

Bryan Jackson on Radio Scotland at 12

What did he say?

[CropleyWasGod]

What did he say?

"Can I just say hi to everyone that knows me?"

[Speedway]

"Can I just say hi to everyone that knows me?"

:greengrin

[Winston Ingram]

Their 'expert' appears to be getting a bit of stick.


scott_jambo, on 01 April 2014 - 12:02 PM, said:
The Gasman. Gets fed information from FOH Directors. i.e. folk who run buses. :facepalm:

ITK.

He's reading the thread but the encylopedia of fantasy is offering nothing. Fud:greengrin

..and more


Sorry, but you've got to be joking? You've fed us hint, hint - nudge, nudge posts and thumbsup smileys all year and been wrong nearly every time. Can we drop the pretence you know any more than the rest of us.

[IWasThere2016]

What did he say?

He's just coming on

[IWasThere2016]

The delay has changed scenario to one of certainty to one of uncertainty. Not had the approvals they expected. Cash to last until the end of April only.

[IWasThere2016]

The delay has changed scenario to one of certainty to one of uncertainty. Not had the approvals they expected. Cash to last until the end of April only.

Cocke then came on to talk about young boys .. I may have paraphrased on the last bit :wink: :greengrin

[Sergey]

What did he say?

"I'd just like to dedicate this liquidation to everyone on hibs.net"

[IWasThere2016]

In another LaLaLand, Moyes believes ManUre can match Bayern :faf:

[AinsterHibs]

"I'd just like to dedicate this liquidation to everyone on hibs.net"

If only....come in agent Jackson, your work there is done.

:thumbsup:

[IWasThere2016]

"I'd just like to dedicate this liquidation to everyone on hibs.net"

:top marks

[leggeto]

I bet he was begging spfl to give him another home game against us,what's the chances

[Brunswickbill]

What's the difference between a BJ and group of yams?
One is Bryan Jackson and the other is a bunch of suckers

[jacomo]

That’s a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme.

Is he having a laugh with the above statement? pots and kettles Brian!!

I can't actually believe Bryan Jackson would make a statement like this - he's far too savvy surely? Even FoH have admitted Hearts are a very small part of the picture, so throwing their weight around demanding things to happen according to their timescale is hardly going to wash.


My money would be on Southern or some other numpty over there.

[Bristolhibby]

I bet he was begging spfl to give him another home game against us,what's the chances

I'd be raging if this comes to pass. If its good enough for the Old Firm (2 x Home, 2x Away), then it should be good enough for the Edinburgh Derby.

J

[jacomo]

The delay has changed scenario to one of certainty to one of uncertainty. Not had the approvals they expected. Cash to last until the end of April only.

If the outcome could be affected so dramatically by a delayed meeting, it was never certain in the first place.

[Aldo]

I bet he was begging spfl to give him another home game against us,what's the chances

Won't happen IMHO.



12325

[Ireallywasthere]

The last derby (hopefully ever) will be at ER on the 27th april

Sent from my GT-I9300 using Tapatalk

[Coco Bryce]

"I'd just like to dedicate this liquidation to everyone on hibs.net"

:top marks

[KdyHby]

The last derby (hopefully ever) will be at ER on the 27th april

Sent from my GT-I9300 using Tapatalk

With priority additional ticket sales to season ticket holders that have renewed.

[Salisbury Hibby]

The last derby (hopefully ever) will be at ER on the 27th april

Sent from my GT-I9300 using Tapatalk

Unfortunately, if it is they'll wreck the joint.

[ronaldo7]

With priority additional ticket sales to season ticket holders that have renewed.

:tee hee:

[FranckSuzy]

Apologies if this has been covered before but IF Hear7s are liquidated before the end of the season (and therefore cannot fulfill their remaining fixtures), does that mean Hibs will be safe from the play-off position, as they'll be awarded 3 points for the two games we've lost v them? :confused: :pray: :clutchingatstrawssmilie:

[Radium]

Would damage at the final Derby, if it is not paid, constitute a football debt. If so I am presuming that the phoenix club will need to pay it as a condition of their new club joining the league

Sent from my RM-941_eu_euro1_217 using Tapatalk

[Danderhall Hibs]

Apologies if this has been covered before but IF Hear7s are liquidated before the end of the season (and therefore cannot fulfil their remaining fixtures), does that mean Hibs will be safe from the play-off position, as they'll be awarded 3 points for the two games we've lost v them? :confused: :pray: :clutchingatstrawssmilie:

They could deduct the points all the teams have own against them which would be good for us, losing only 3 whereas everyone else would lose 6,7 or 9.

[FranckSuzy]

They could deduct the points all the teams have own against them which would be good for us, losing only 3 whereas everyone else would lose 6,7 or 9.

Ah, I though the other team were awarded a 3-0 win if a club couldn't fulfill their fixtures :confused: Probably wrong though :greengrin

[lord bunberry]

Hibs should sell away tickets for the last derby ourselves, I wouldn't trust that mob to hand over the cash.

[CropleyWasGod]

Hibs should sell away tickets for the last derby ourselves, I wouldn't trust that mob to hand over the cash.

If BDO don't hand it over, it'll be added to the football debt and forwarded by the SPFL.

[Danderhall Hibs]

Ah, I though the other team were awarded a 3-0 win if a club couldn't fulfill their fixtures :confused: Probably wrong though :greengrin

I think there's different ways to do it. The talk when Gretna trialled liquidation for the hearts was that everyone would get the points gained v them removed. I remember because that would've allowed hearts to go above is in the league due to their poor record v Gretna.

[joe breezy]

Unfortunately, if it is they'll wreck the joint.

Who cares, not that much damage can be done to concrete. Seats can be easily replaced and will be paid for by them.

[Weststandwanab]

All this talk of liquidation for the Yams on April 1st. :greengrin


I wonder if any of the knuckle-draggers over on kickback are thinking that come mid-day someone will post April-Fool and it will be business as usual and the rubber stamp is just a box tick away. Keep the faith.


Probably because they have been given an advance on their SPFL money. In the event that they stopped trading, that would be repayable.

Enabling them to trade until the end of the season would avoid that, it would also give them some additional income, as well as entitling them to a further SPFL payout. That would make sure all post-admin bills were paid. Exactly correct.


If only....come in agent Jackson, your work there is done.

:thumbsup:No it is not, he needs to sign that important form first.


What's the difference between a BJ and group of yams?
One is Bryan Jackson and the other is a bunch of suckers I would buy one a drink.


Would damage at the final Derby, if it is not paid, constitute a football debt. If so I am presuming that the phoenix club will need to pay it as a condition of their new club joining the league

Sent from my RM-941_eu_euro1_217 using TapatalkHibs should sell the tickets direct

[ronaldo7]

Club Ceasing to Operate, Participate in and/or be a Member of the League
C53 If, for any reason and during or after any Season, any Club ceases to operate or
participate in or to be member of the League or any Play-Off Competition, its
playing record in the League and/or any Play-Off Competitions may be expunged by
the Board and/or the Board may determine the deemed score in the remainder of
its Official Matches and/or the Board may take such steps and make such
determinations as to League and Divisional position and/or promotion and/or
relegation and participation and/or results in and outcome of any Play-Off
Competition and/or any other competition operated by the Company and any and
all such further or other steps or measures as the Board shall consider appropriate
in the circumstances.

[Keith_M]

Club Ceasing to Operate, Participate in and/or be a Member of the League
C53 If, for any reason and during or after any Season, any Club ceases to operate or
participate in or to be member of the League or any Play-Off Competition, its
playing record in the League and/or any Play-Off Competitions may be expunged by
the Board and/or the Board may determine the deemed score in the remainder of
its Official Matches and/or the Board may take such steps and make such
determinations as to League and Divisional position and/or promotion and/or
relegation and participation and/or results in and outcome of any Play-Off
Competition and/or any other competition operated by the Company and any and
all such further or other steps or measures as the Board shall consider appropriate
in the circumstances.


Well, I don't know about anybody else but that's cleared that up for me!




:greengrin

[Seveno]

Interesting article in today's EEN about soaring property prices on the tram route. :greengrin

[brog]

Not sure they can do that. It's not the SPFL that would lay down or change the rules. If they go into liquidation, they have to stop trading immediately.

Or have I misunderstood you?

No, I agree with you 100% but the noises coming out of PBS indicate they think they can do this. Quote in today's DR, there is a determination to fulfil all fixtures in the event of the worst-case scenario, (ie liquidation). No idea how they think they would accomplish this if the club is a dead parrot but hey, what's liquidation to a club which won WW1 on its own? :greengrin

[Greenworld]

If only....come in agent Jackson, your work there is done.

:thumbsup:

Not quite do not abort your mission I repeat do not abort
your mission until until you see liquid rubber stamped

[Winston Ingram]

No, I agree with you 100% but the noises coming out of PBS indicate they think they can do this. Quote in today's DR, there is a determination to fulfil all fixtures in the event of the worst-case scenario, (ie liquidation). No idea how they think they would accomplish this if the club is a dead parrot but hey, what's liquidation to a club which won WW1 on its own? :greengrin

I do like how that implies that fulfilling fixtures seems to have overtaken survival on their list of priorities:greengrin

[Moulin Yarns]

Club Ceasing to Operate, Participate in and/or be a Member of the League
C53 If, for any reason and during or after any Season, any Club ceases to operate or
participate in or to be member of the League or any Play-Off Competition, its
playing record in the League and/or any Play-Off Competitions may be expunged by
the Board and/or the Board may determine the deemed score in the remainder of
its Official Matches and/or the Board may take such steps and make such
determinations as to League and Divisional position and/or promotion and/or
relegation and participation and/or results in and outcome of any Play-Off
Competition and/or any other competition operated by the Company and any and
all such further or other steps or measures as the Board shall consider appropriate
in the circumstances.

That is simple, St Mirren, Partick, Ross County and Kilmarnock are all awarded 3-0 wins, and Hearts will be awarded a 3-0 win against us and we will have a perfectly good goal disallowed

[FranckSuzy]

That is simple, St Mirren, Partick, Ross County and Kilmarnock are all awarded 3-0 wins, and Hearts will be awarded a 3-0 win against us and we will have a perfectly good goal disallowed

Sadly, you're probably correct :rolleyes:

[Dashing Bob S]

Kickback reminds me of a certain movie right now, I can't quite remember the title...

...ah, here it is...

http://www.imdb.com/title/tt0446029/

[AltheHibby]

surely this is the one you wanted:

http://m.imdb.com/title/tt0064639/

[Geo_1875]

That is simple, St Mirren, Partick, Ross County and Kilmarnock are all awarded 3-0 wins, and Hearts will be awarded a 3-0 win against us and we will have a perfectly good goal disallowed

And a player red carded.........

[Keith_M]

I see even #allisbarry is now saying their chances of survival are only 50-50 (http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-chances-of-survival-rated-as-50-50-1-3360293).


Event: Hearts liquidated and Tyncastle bulldozed to build a new Tesco

#allisbarry: "Hearts chances of survival now rated at 40-60"

[Joe6-2]

That is simple, St Mirren, Partick, Ross County and Kilmarnock are all awarded 3-0 wins, and Hearts will be awarded a 3-0 win against us and we will have a perfectly good goal disallowed

Lol

[Sergey]

Brian Jackson plays the lead role in:

http://m.imdb.com/title/tt2072268/

[AndyM_1875]

I do like how that implies that fulfilling fixtures seems to have overtaken survival on their list of priorities:greengrin

H, they'll fulfill he fixtures as its important for them to show continuity and crowbar the Newco into League2.
That way they'll say they're keeping their history blah blah. If they fail to fulfill the fixtures they get wiped (literally) and there's no continuity.

The precedent is there, no matter how badly it was arguably handled in 2012 with Rangers.

[Dashing Bob S]

I've sucked it up, manned up, straightened my spine, dried my eyes and moved on from liquidation.

I'm now thinking about asset disposal.

Or no, I'm rather thinking about a Newco in the lower leagues.

[Leithenhibby]

H, they'll fulfill he fixtures as its important for them to show continuity and crowbar the Newco into League2.
That way they'll say they're keeping their history blah blah. If they fail to fulfill the fixtures they get wiped (literally) and there's no continuity.

The precedent is there, no matter how badly it was arguably handled in 2012 with Rangers.

Thought new rules applied...... Or am I missing something?... Big L = Lowlands?.....

[StevieC]

I'm now thinking about asset disposal.

I'm not wanting to jump the gun here .. but I am curious as to what the procedure is if it reached that point.

Any of the "experts" able to explain the possible procedures?

[madsen5]

I see even #allisbarry is now saying their chances of survival are only 50-50 (http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-chances-of-survival-rated-as-50-50-1-3360293).


Event: Hearts liquidated and Tyncastle bulldozed to build a new Tesco

#allisbarry: "Hearts chances of survival now rated at 40-60"
Very pleasing

[madsen5]

I see even #allisbarry is now saying their chances of survival are only 50-50 (http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-chances-of-survival-rated-as-50-50-1-3360293).


Event: Hearts liquidated and Tyncastle bulldozed to build a new Tesco

#allisbarry: "Hearts chances of survival now rated at 40-60"
Very pleasing .

[HIBERNIAN-0762]

http://www.youtube.com/watch?v=SdAcG24iI_w

:thumbsup:

[Greencore]

Hahaha there children will be hibbys! Bring on the livi & Spartans!!

[AinsterHibs]

Not quite do not abort your mission I repeat do not abort
your mission until until you see liquid rubber stamped

:tbgwa:Lol, understood! :tbgwa:

[Ozyhibby]

Hahaha there children will be hibbys! Bring on the livi & Spartans!!

Spartans are our friends.
:-)

[Keith_M]

Maybe we'll get Edinburgh City joining League Two instead, leading eventually to possible derby matches at Meadowbank


:thumbsup:

[Winston Ingram]

Thought new rules applied...... Or am I missing something?... Big L = Lowlands?.....

That's the following season i believe. Problem they have is that they need to get there erse in gear to get a newco sorted before August. It's not going to be as easy as the new Huns as they got Ibrox. NewYam would have the problem of having to find somewhere to play.

[Sprouleflyer]

Is there anything we as a fan base can do to help Hearts?

[Sprouleflyer]

Oops! Meant to add.......DIE!!!

[blackpoolhibs]

Is there anything we as a fan base can do to help Hearts?

Get STF to buy them for the community, and send Rod Petrie in to run it for him. Nah i know, they are not that bloody desperate.

[ronaldo7]

Well, I don't know about anybody else but that's cleared that up for m


:greengrin

Them's the rules mate:greengrin

As it is, the board can make up their own decisions as their's a cover your erchie rule too.

[jacomo]

I see even #allisbarry is now saying their chances of survival are only 50-50 (http://www.edinburghnews.scotsman.com/sport/football/hearts/hearts-chances-of-survival-rated-as-50-50-1-3360293).


Event: Hearts liquidated and Tyncastle bulldozed to build a new Tesco

#allisbarry: "Hearts chances of survival now rated at 40-60"

Interesting if true that the 'token' payment for UBIG's shares is now £100k. Lithuanians just need to keep turning the screw...

Wonder if I am an MP has now realised what a total mess he's involved with? Those dreams of stepping out onto the Tynecastle pitch and being given the full 'Mister' treatment by the forelock tuggers look less and less like reality now.

[SuperAllyMcleod]

Is there anything we as a fan base can do to help Hearts?

Actually, I think that may p!ss off the Jumbos more than anything we have ever done. If Hibs fans started to do something organised to save them (no, not more cakes) and perhaps just came up short then they wouldn't even be able to slag us off for that.

How about a sponsored walk to the first game of the new season?

[jacomo]

Actually, I think that may p!ss off the Jumbos more than anything we have ever done. If Hibs fans started to do something organised to save them (no, not more cakes) and perhaps just came up short then they wouldn't even be able to slag us off for that.

How about a sponsored walk to the first game of the new season?

We could always gift them another three points. Would that help?

[SuperAllyMcleod]

We could always gift them another three points. Would that help?

No, we've done that twice already and they are still in a mess.

[Gus Fring]

What astounds me in all of this is the constant lying.

"We'll be fan owned"
Yes for 5 minutes and then you'll be owned by Budge

"We'll be debt free"
Yes, for 5 minutes but then you'll owe Budge a significant sum

"UKIO will get nothing if they don't agree to the CVA"
They'll get the money raised from liquidation which could be considerably more.

"We've never complained"
Apart from the constant complaining that is?

"Best youngsters in Scotland"
This one is obvious

"The points deduction was designed to relegate us"
Even if you got those 15 points back you'd still be getting relegated.

"The transfer embargo was designed to relegate us"
You still signed a player. It's not the SPFL's fault he turned out to be humpty

"Just needs Rubber stamped"
Turns out the rubber stamp is for the court appointing a liquidator.

"Green lights all the way"
For the court appointed liquidator driving to Tynecastle.

"In the bag"
A bag marked: stuff to be sold in liquidation sale.

[Danderhall Hibs]

What astounds me in all of this is the constant lying.

"We'll be fan owned"
Yes for 5 minutes and then you'll be owned by Budge

"We'll be debt free"
Yes, for 5 minutes but then you'll owe Budge a significant sum

"UKIO will get nothing if they don't agree to the CVA"
They'll get the money raised from liquidation which could be considerably more.

"We've never complained"
Apart from the constant complaining that is?

"Best youngsters in Scotland"
This one is obvious

"The points deduction was designed to relegate us"
Even if you got those 15 points back you'd still be getting relegated.

"The transfer embargo was designed to relegate us"
You still signed a player. It's not the SPFL's fault he turned out to be humpty

"Just needs Rubber stamped"
Turns out the rubber stamp is for the court appointing a liquidator.

"Green lights all the way"
For the court appointed liquidator driving to Tynecastle.

"In the bag"
A bag marked: stuff to be sold in liquidation sale.

Hi Brian. I see you've referred to the don't accept the cva get no money threat - are you sure that this isn't the case and the MP was lying?

[ScottB]

What astounds me in all of this is the constant lying.

"We'll be fan owned"
Yes for 5 minutes and then you'll be owned by Budge

"We'll be debt free"
Yes, for 5 minutes but then you'll owe Budge a significant sum

"UKIO will get nothing if they don't agree to the CVA"
They'll get the money raised from liquidation which could be considerably more.

"We've never complained"
Apart from the constant complaining that is?

"Best youngsters in Scotland"
This one is obvious

"The points deduction was designed to relegate us"
Even if you got those 15 points back you'd still be getting relegated.

"The transfer embargo was designed to relegate us"
You still signed a player. It's not the SPFL's fault he turned out to be humpty

"Just needs Rubber stamped"
Turns out the rubber stamp is for the court appointing a liquidator.

"Green lights all the way"
For the court appointed liquidator driving to Tynecastle.

"In the bag"
A bag marked: stuff to be sold in liquidation sale.

Bravo :D

[Greencore]

What's actually happening to them? Are they dead yet??