Share Transfers Agreed/Cooling off period

[Hermit Crab]

Gorgie will soon have as well....................

The cup final money will save them don't you know??

[clerriehibs]

:faf::faf:

They really are a deluded bunch of muppets, calling the man who run their club into the ground a hero.

Bunch of Chumps


and still "Mr Romanov" ... what a bunch of sycophantic lady's front bottoms

[edinburghhibee]

Gorgie will soon have as well....................

No in ma hoose hold.... Party!!!!!

[HoboHarry]

Check out this walloper's comment from Yak-Kak...."I will be forever grateful to vlad for saving hearts lets be honest there would be no hearts without him no tynecastle and playing at murrayfield and it cannot be forgotton two scottish cups and possibly a league cup i bet if you asked the wee team's fans they would bite your hand off for that."

Three cups in exchange for being shut down? Aye right......... Ferkin moron.......

[TrickyNicky]

Couldn't help mahsel and had a wee sneaky over on Brokeback.

These two stuck out!:faf:



Where does all this leave the £1 million + we put into the club?


Posted Yesterday, 21:06
Any potential buyer could get a cheap deal if the Admins flog us off.

Calm down dear.

[Spike Mandela]

http://www.bloomberg.com/news/2013-02-18/ukio-bankas-of-lithuania-to-be-sold-after-central-bank-takeover.html

...It was not clear whether Siauliu would agree to acquire any of the foreign assets that Ukio’s majority owner Vladimir Romanov, or companies related to him, had pledged to the bank as loan security, Vasiliauskas said. Those included assets related to Edinburgh soccer club Heart of Midlothian, the Birac AD alumina producer in Bosnia and Herzegovina, real estate in Moscow and other things, he said.

Unhealthy assets would be split off and, if recovered, distributed to Ukio creditors, the central banker said.

Temporary administrator Adomas Audickas’s report on Ukio found that the bank’s liabilities exceeded its assets by about 1.1 billion litai.

[WindyMiller]

http://www.bloomberg.com/news/2013-02-18/ukio-bankas-of-lithuania-to-be-sold-after-central-bank-takeover.html

...It was not clear whether Siauliu would agree to acquire any of the foreign assets that Ukio’s majority owner Vladimir Romanov, or companies related to him, had pledged to the bank as loan security, Vasiliauskas said. Those included assets related to Edinburgh soccer club Heart of Midlothian, the Birac AD alumina producer in Bosnia and Herzegovina, real estate in Moscow and other things, he said.

Unhealthy assets would be split off and, if recovered, distributed to Ukio creditors, the central banker said.

Temporary administrator Adomas Audickas’s report on Ukio found that the bank’s liabilities exceeded its assets by about 1.1 billion litai.


274,643,600.00 British Pound Sterling! :shocked:


That's a lot of muffins.

[s.a.m]

saveourhearts‏@SOH2OfficialFoundation of Hearts statement on current #HMFC (http://www.hibs.net/search?q=%23HMFC&src=hash) situation is imminent. #FoH (http://www.hibs.net/search?q=%23FoH&src=hash)
Retweeted by gordonchree (http://www.hibs.net/gordonchree)


:I'm waiti

[LancsHibs]

The shadow of death looms over Tynecastle casting a dark dark nightmare :eyes:

[macca70]

:faf::faf:

They really are a deluded bunch of muppets, calling the man who run their club into the ground a hero.

Bunch of Chumps

Couldn't believe what I was reading over there. Post after post licking Romanovs erse.

8 years that included a few European games and 19th May but at what cost?

They have been run into the ground by paying jokers like; Kingston, Nade, Belija etc an absolute fortune.

They really have been brain washed by Vlad and now petrified to say a bad word against him.

[Www1875hfc]

Any other fans would have outed Romanov long ago.
Just dont understand why Romanov has had such an easy time from the 400,000 puddle drinkers.
Anyway.
I Was Thinking How I Could Do My Bit To Help Heart Of Midlothian Football Club In There Hour Of Need? So Ive Ordered The Wreath

[Jim44]

saveourhearts‏@SOH2OfficialFoundation of Hearts statement on current #HMFC (http://www.hibs.net/search?q=%23HMFC&src=hash) situation is imminent. #FoH (http://www.hibs.net/search?q=%23FoH&src=hash)
Retweeted by gordonchree (http://www.hibs.net/gordonchree)


:I'm waiti

Fedotovas says that they were not going to deal directly with FoH but with Supporters Direct Scotland, the umbrella organisation for supporters' trusts. Strange, given that FoH seemed to be in the forefront of any fan involvement.

[poolman]

The first of the sycophantic obituaries from over the road:

"Well as this news breaks this evening along with other events its became apparent that his lack of investment in the club is because of his other financial goings on.

I've always sat on the fence with the man, grateful for keeping us at Tynie, all the money, the cups his money provided and even his rants when at the correct people. I've also went against sackings, interfering, using us as a plaything and worried about how we will end up when the smoke clears.

But lets make no mistake this man is a generous and fantastic man, whatever the motives has been a complete hero for Heart of Midlothian football club.

His bank is sinking and he will be deeply distressed and I for one would like to make it known that I deeply appreciate all he has done for our club and I hope upon hope, even when he sells the club or its taken off his hand the man ends up ok.

All the best Mr Romanov. You have thousands upon thousands of jambos who appreciate and love you big man."



It' not often i'm speechless but....................

[WestEndHibee]

Any other fans would have outed Romanov long ago.
Just dont understand why Romanov has had such an easy time from the 400,000 puddle drinkers.
Anyway.
I Was Thinking How I Could Do My Bit To Help Heart Of Midlothian Football Club In There Hour Of Need? So Ive Ordered The Wreath

I've book a 400000 seater venue.

[Russell The Dug]

Spineless bunch of ********s/lickers.

Make no mistake about it, even if they deny it, every one of they 400,000 balloon heids will be ****tin it.

[Dashing Bob S]

I've book a 400000 seater venue.

I'd like to see the Council do their bit by flooding Princess Street Gardens and re-creating the Nor Loch. A giant puddle for the 400,000 to sup at. Make the gardens into a kind of game reserve for Yams, where tourists could take pictures and feed them the cakes that they'll have lost the will to bake for themselves, after the demise of the club.

[Hibby Kay-Yay]

I hope it goes breasticles up today...what a birthday treat that would be

[green glory]

I'd like to see the Council do their bit by flooding Princess Street Gardens and re-creating the Nor Loch. A giant puddle for the 400,000 to sup at. Make the gardens into a kind of game reserve for Yams, where tourists could take pictures and feed them the cakes that they'll have lost the will to bake for themselves, after the demise of the club.

Excellent idea. The Nor Loch was badly polluted before, but can you imagine how bad it would be with Fatty Foulkes permanently wee weeing as he grazes for cup cakes at the loch side?

[hibees 7062]

Any other fans would have outed Romanov long ago.
Just dont understand why Romanov has had such an easy time from the 400,000 puddle drinkers.
Anyway.
I Was Thinking How I Could Do My Bit To Help Heart Of Midlothian Football Club In There Hour Of Need? So Ive Ordered The Wreath

Can we order a wreath fae Hibs.net , jaggies and thistles :wink:

[Bostonhibby]

The first of the sycophantic obituaries from over the road:

"Well as this news breaks this evening along with other events its became apparent that his lack of investment in the club is because of his other financial goings on.

I've always sat on the fence with the man, grateful for keeping us at Tynie, all the money, the cups his money provided and even his rants when at the correct people. I've also went against sackings, interfering, using us as a plaything and worried about how we will end up when the smoke clears.

But lets make no mistake this man is a generous and fantastic man, whatever the motives has been a complete hero for Heart of Midlothian football club.

His bank is sinking and he will be deeply distressed and I for one would like to make it known that I deeply appreciate all he has done for our club and I hope upon hope, even when he sells the club or its taken off his hand the man ends up ok.

All the best Mr Romanov. You have thousands upon thousands of jambos who appreciate and love you big man."

I am stunned, surely it has to be one of us undercover?

Do they actually think he is a victim of a scam himself, or unlucky?

The deliberate manipulation of the assetts of others by the very few in a position to do so at the bank and satellite companies followed by the overdue intervention of the regulator and maybe the police/EU central bank is why the game of musical chairs with money has stopped.

There could only really be one outcome if there wasn't enough money left in the swamp when the music stopped. It might have been there once, or more likely was borrowed in, but either way where's it now/ who has got it? especially the Yams income and share money since the latest farce begun. The Dear Leader cares about them so much that its very likely he has siphoned off everything they had or will have in terms of cash and assetts until the very end. Would never happen at ER or most other Scottish clubs, but if they are happy.......................

[jodjam]

I'd like to see the Council do their bit by flooding Princess Street Gardens and re-creating the Nor Loch. A giant puddle for the 400,000 to sup at. Make the gardens into a kind of game reserve for Yams, where tourists could take pictures and feed them the cakes that they'll have lost the will to bake for themselves, after the demise of the club.

Sparryheid park

[Mon Dieu4]

saveourhearts‏@SOH2OfficialFoundation of Hearts statement on current #HMFC (http://www.hibs.net/search?q=%23HMFC&src=hash) situation is imminent. #FoH (http://www.hibs.net/search?q=%23FoH&src=hash)
Retweeted by gordonchree (http://www.hibs.net/gordonchree)


:I'm waiti


http://www.foundationofhearts.org/statement-from-alex-mackie-chairman-of-the-foundation-of-hearts/

they are totally up the creek, they are just attempting to look like they are doing something

[hibsbollah]

http://www.foundationofhearts.org/statement-from-alex-mackie-chairman-of-the-foundation-of-hearts/

they are totally up the creek, they are just attempting to look like they are doing something

All is Barry© :agree:

[bighairyfaeleith]

So would hearts have been better off if they had went into administration in november?

[HUTCHYHIBBY]

Would anybody on here accept being in their position for 2 SCF wins? ;-)

[CropleyWasGod]

So would hearts have been better off if they had went into administration in november?

I doubt it.

An administration at that stage would have established one thing; ie that there was little hope of saving the business. Liquidation would have followed fairly quickly after that.

[PatHead]

Would anybody on here accept being in their position for 2 SCF wins? ;-)

No,no,no and no again. Would you?

[HUTCHYHIBBY]

No,no,no and no again. Would you?

I'm just feeling a bit mischievous today!

[HUTCHYHIBBY]

I see Hearts do not exist in the poll is now sub 50%, strange!

[PatHead]

I'm just feeling a bit mischievous today!

See you still haven't answered the question, ya politician ya!

[Bill Milne]

I note that Ukio Bankas have now been declared insolvent by the Lithuanian authorities, with their good assets to be transferred to another bank. I'm no expert so can someone attempt an explanation of the possible ramifications for Hertz?

[HUTCHYHIBBY]

See you still haven't answered the question, ya politician ya!

Being Killie's bitch would balance it off too much!

[Mon Dieu4]

All is Barry© :agree:

if those accounts are 20 months out of date and UBIG have stopped financing them, id love to see what state they are in right now

[hibsbollah]

if those accounts are 20 months out of date and UBIG have stopped financing them, id love to see what state they are in right now

I dont know much about these things but it looks a bit grim :greengrin

[green glory]

#allisbarry

Can see the succulent yam being a bit tetchy today.

[Dashing Bob S]

I note that Ukio Bankas have now been declared insolvent by the Lithuanian authorities, with their good assets to be transferred to another bank. I'm no expert so can someone attempt an explanation of the possible ramifications for Hertz?

I'm very interested in this to, obviously. But I don't think we'll know for sure until the new bank's people come in an have a look at the old company and 1) determine the relationship to its constituent parts (of which Hearts are one) and 2) determine what to do with 'good' assets (Tynecastle and player contracts) and debts (what Hearts, as loss maker, have brought to this shredded portfolio's party) and go from there.

It seems highly unlikely that they will/can support Hearts as a football club in any way.

The logical step would be to sell off Tynecastle and the player contracts and get what they can, against the debts the club has incurred.

The crux would seem to be, can a footballing consortium afford to pay more on the open market for Tynecastle (and presumably player contracts) than a private developer with flats/supermarket other use in mind?

I'm no finance expert, this seems to me to be the way it's heading. I'd be interested to hear what people more involved in this world think. The problem is that Hearts/Vlad's financial affairs are so shrouded in mystery, you don't really know what the new people/authorities will find.

[Treadstone]

Some more latest on UKIO, not much here just a kind of they brought it on themselves statement.

http://www.lithuaniatribune.com/29999/no-threat-to-financial-stability-from-ukio-bankas-bank-of-lithuania-chief-201329999/?utm_source=dlvr.it&utm_medium=twitter

[EdinMike]

Take it away. Mr Francis Albert Sinatra..


http://youtu.be/Aht9hcDFyVw

[Hermit Crab]

Knowing their luck they'll come out of this unscathed and debt free.

[Caversham Green]

Knowing their luck they'll come out of this unscathed and debt free.

Not.

A.

Chance.

[M6hibee]

saveourhearts‏@SOH2OfficialFoundation of Hearts statement on current #HMFC (http://www.hibs.net/search?q=%23HMFC&src=hash) situation is imminent. #FoH (http://www.hibs.net/search?q=%23FoH&src=hash)
Retweeted by gordonchree (http://www.hibs.net/gordonchree)


:I'm waiti

Any ideas when that will be released?

[Part/Time Supporter]

Any ideas when that will be released?

It already has.

http://www.foundationofhearts.org/statement-from-alex-mackie-chairman-of-the-foundation-of-hearts/

Unusually (for them) responsible and serious.

[DarrenSQH]

Driver to that top, top club houston dynamo. Can't see a price - what do you reckon? £4 or £5 million? Nah ... SFA it seems!

Loving it.

This Guy.... http://www.scotsman.com/sport/chelsea-join-race-to-sign-hearts-star-driver-1-1244026

away for free. haha

[Judas Iscariot]

Knowing their luck they'll come out of this unscathed and debt free.

So you keep saying..

[NOLA]

Anyone recommend a good shop to buy a quality cigar?

[#FromTheCapital]

Not.

A.

Chance.

:thumbsup:

:not worth

[hibsmad]

Not.

A.

Chance.

What do you think is best case scenario for them as it stands now CG?

I'm praying that they are either liquidated, or if they manage to squirm their way out of that one, that they at least lose their stadium (when I say stadium I off course mean that pink monstrosity that they like to pass off as a stadium).

My concern there though is that no one will demolish it due to the bad publicity it would bring.

[DaveF]

What do you think is best case scenario for them as it stands now CG?

I'm praying that they are either liquidated, or if they manage to squirm their way out of that one, that they at least lose their stadium (when I say stadium I off course mean that pink monstrosity that they like to pass off as a stadium).

My concern there though is that no one will demolish it due to the bad publicity it would bring.

Give me some TNT and I'll take the blame :agree:

[Hermit Crab]

Anyone recommend a good shop to buy a quality cigar?

Place on the royal mile does cigars.


So you keep saying..

You obviously never found the block button you promised to use.

[hibsbollah]

Anyone recommend a good shop to buy a quality cigar?

I think youre getting ahead of yourself a bit.

Remember, All is Barry. The big house WILL stay open :agree:

[degenerated]

And now the end is near
Vlad is back behind the iron curtain
my friends, i'll say it clear
your goose is cooked, of that i am certain

he told you lies, played you for fools
you sold your souls, despite our heeds
and much, much more than this
UKIO's got the deeds

shares, you have a few
but then again, too few to mention
Deans did what he wanted to
and sold you out, with lack of gumption

Believe?, we laughed so much we cried
we've had our fill, of all your gloating
and now, our tears subside
we find it all still so amusing

For what is a club, what have they got?
if not a ground, then they'll have naught
pound shops and housing schemes
where once you stood and had your dreams

history will show, you sunk so low

by doing it Vlads Way

[Just Alf]

And now the end is near
Vlad is back behind the iron curtain
my friends, i'll say it clear
your goose is cooked, of that i am certain

he told you lies, played you for fools
you sold your souls, despite our heeds
and much, much more than this
UKIO's got the deeds

shares, you have a few
but then again, too few to mention
Deans did what he wanted to
and sold you out, with lack of gumption

Believe?, we laughed so much we cried
we've had our fill, of all your gloating
and now, our tears subside
we find it all still so amusing

For what is a club, what have they got?
if not a ground, then they'll have naught
pound shops and housing schemes
where once you stood and had your dreams

history will show, you sunk so low

by doing it Vlads Way

:top marks

[Russell The Dug]

And now the end is near
Vlad is back behind the iron curtain
my friends, i'll say it clear
your goose is cooked, of that i am certain

he told you lies, played you for fools
you sold your souls, despite our heeds
and much, much more than this
UKIO's got the deeds

shares, you have a few
but then again, too few to mention
Deans did what he wanted to
and sold you out, with lack of gumption

Believe?, we laughed so much we cried
we've had our fill, of all your gloating
and now, our tears subside
we find it all still so amusing

For what is a club, what have they got?
if not a ground, then they'll have naught
pound shops and housing schemes
where once you stood and had your dreams

history will show, you sunk so low

by doing it Vlads Way


:flag::flag::flag::flag::flag::flag:

[Sweet Left Peg]

And now the end is near
Vlad is back behind the iron curtain
my friends, i'll say it clear
your goose is cooked, of that i am certain

he told you lies, played you for fools
you sold your souls, despite our heeds
and much, much more than this
UKIO's got the deeds

shares, you have a few
but then again, too few to mention
Deans did what he wanted to
and sold you out, with lack of gumption

Believe?, we laughed so much we cried
we've had our fill, of all your gloating
and now, our tears subside
we find it all still so amusing

For what is a club, what have they got?
if not a ground, then they'll have naught
pound shops and housing schemes
where once you stood and had your dreams

history will show, you sunk so low

by doing it Vlads Way

Like it a lot.

[shagpile]

Take it away. Mr Francis Albert Sinatra..


http://youtu.be/Aht9hcDFyVw

That name follows them around eh?

[Hermit Crab]

I think youre getting ahead of yourself a bit.

Remember, All is Barry. The big house WILL stay open :agree:

The boy asked where to get cigars, I merely responded ;-)

[#FromTheCapital]

Give me some TNT and I'll take the blame :agree:

TNT would probably improve the *****hole. I think thats the biggest dilemma, how do you destroy the PBS without inadvertantly improving it? :dunno:

[PatHead]

Anyone recommend a good shop to buy a quality cigar?

Keep it in Leith. The tobacconist at the bottom end of Leith Walk

[monktonharp]

And now the end is near
Vlad is back behind the iron curtain
my friends, i'll say it clear
your goose is cooked, of that i am certain

he told you lies, played you for fools
you sold your souls, despite our heeds
and much, much more than this
UKIO's got the deeds

shares, you have a few
but then again, too few to mention
Deans did what he wanted to
and sold you out, with lack of gumption

Believe?, we laughed so much we cried
we've had our fill, of all your gloating
and now, our tears subside
we find it all still so amusing

For what is a club, what have they got?
if not a ground, then they'll have naught
pound shops and housing schemes
where once you stood and had your dreams

history will show, you sunk so low

by doing it Vlads Way you did not rush that one together in five mins:greengrin nevertheless it is brilliant, I'll give it 10, and I'll buy it!:greengrin

[Caversham Green]

What do you think is best case scenario for them as it stands now CG?

I'm praying that they are either liquidated, or if they manage to squirm their way out of that one, that they at least lose their stadium (when I say stadium I off course mean that pink monstrosity that they like to pass off as a stadium).

My concern there though is that no one will demolish it due to the bad publicity it would bring.

I think Massone, if he's still interested, is both their best hope and the most likely outcome. FoH's plans seem to be based on squeezing millions out of the fans on an annual basis when they could only scrape in one million as a one-off to save the club last year - that seems highly unrealistic to me.

I've posted a thought on the PM board that FoH might be hoping for UBIG to enter administration as that's their only chance of getting the club cheap-ish and debt-free - they would still have to shell out more than the net break-up value though, because if the club is dead no-one is going to think twice about building over the PBS site. If Massone is going to make another offer he's likely to wait for that in the same way. Either way they will suffer a points deduction that will put them bottom of the SPL and into a relegation fight woth Dundee.

On top of that they are already quite heavily 'scathed' although it hasn't really shown up yet. If Driver's gone that'll be eight of their best or more experienced players away since the end of last season with more to go in the summer. So far they've replaced them for next season with ......Ryan Stevenson. John McGlynn for Paulo Sergio doesn't seem like the best move in the world either.

[monktonharp]

TNT would probably improve the *****hole. I think thats the biggest dilemma, how do you destroy the PBS without inadvertantly improving it? :dunno: nah, Semtex is the stuff these days:greengrin mkes a far better level playing field

[s.a.m]

Evening News‏@edinburghpaperFans group not serious contenders for Hearts takeover as concern grows as Romanov's bank to be sold within a week http://bit.ly/Y1Jjne (http://t.co/lAkBGT3N)

[007 Mickey Weir]

Driver to that top, top club houston dynamo. Can't see a price - what do you reckon? £4 or £5 million? Nah ... SFA it seems!

Loving it.


Is Driver off?

[nribs]

Even should Hearts face a points deduction of 18 points and they were to finish bottom, could the possibility of league reconstruction for next season not save them?

Imagine though if Heart were to be relegated after a points deudction and that saved Dundee, Dundee would have done very well out of Rangers and Hearts spending what they don't have, yet Dundee were done twice for it?

[Mikey]

Even should Hearts face a points deduction of 18 points and they were to finish bottom, could the possibility of league reconstruction for next season not save them?

Imagine though if Heart were to be relegated after a points deudction and that saved Dundee, Dundee would have done very well out of Rangers and Hearts spending what they don't have, yet Dundee were done twice for it?

No.

Anyway, they'll be doing well to be playing Sevco in the bottom league next season if there's reconstruction. In fact, they'll be doing well to be playing at all :wink:

[Keith_M]

19th May, 2012, the day a club died....






....but not the one everyone predicted :greengrin

[Ryan91]

No.

Anyway, they'll be doing well to be playing Sevco in the bottom league next season if there's reconstruction. In fact, they'll be doing well to be playing at all :wink:

Lets face it the SFA bent over backwards to let Sevco in to the 3rd, they won't do the same for HaHaHearts

[degenerated]

you did not rush that one together in five mins:greengrin nevertheless it is brilliant, I'll give it 10, and I'll buy it!:greengrin

Actually I did it nearly 5 years ago and posted it on here back then. Just changed the deeds bit from vlad to ukio and posted again :greengrin

[EdinMike]

Actually I did it nearly 5 years ago and posted it on here back then. Just changed the deeds bit from vlad to ukio and posted again :greengrin

Sadly that's how easily they change their deeds as well.

Tippex and a Biro !

[WhileTheChief..]

I've posted a thought on the PM board that FoH might be hoping for UBIG to enter administration as that's their only chance of getting the club cheap-ish and debt-free - they would still have to shell out more than the net break-up value though, because if the club is dead no-one is going to think twice about building over the PBS site. If Massone is going to make another offer he's likely to wait for that in the same way. Either way they will suffer a points deduction that will put them bottom of the SPL and into a relegation fight woth Dundee.


The widely held view on kickback seems to be that this is all great news and that somehow a new buyer will be able to get the club and tynie for pennies and be debt free as a result of admin.

The widely held view on here is that they are going down the pan.

You seem to be up to speed on this and I was wondering if you've ventured over there to see what they are saying? I appreciate that their is an element of green / maroon tinted specs to the way we are all trying to understand what's going on but there must be some middle ground that even the most yam-hating Hibby and deluded-believing yam can agree on??

Personally I think they will be in admin / liquidated within a week or 2. However, is it not possible that FOH / any other numpties could then purchase tynie for a knock down price and start again as NewHearts in div3?

The way I see it is that the administrators will need to get the best deal possible so if no developers come in for the site then that paves the way for a cheeky wee bid from FOH , or as you say Massone. They would then own the club and tynie - would the debt be completely gone?

It really annoys me that they have the belief that they will come out of this debt free and still play at tynie. I just can't see how this is possible? :confused:

[GordonHFC]

The widely held view on kickback seems to be that this is all great news and that somehow a new buyer will be able to get the club and tynie for pennies and be debt free as a result of admin.

The widely held view on here is that they are going down the pan.

You seem to be up to speed on this and I was wondering if you've ventured over there to see what they are saying? I appreciate that their is an element of green / maroon tinted specs to the way we are all trying to understand what's going on but there must be some middle ground that even the most yam-hating Hibby and deluded-believing yam can agree on??

Personally I think they will be in admin / liquidated within a week or 2. However, is it not possible that FOH / any other numpties could then purchase tynie for a knock down price and start again as NewHearts in div3?The way I see it is that the administrators will need to get the best deal possible so if no developers come in for the site then that paves the way for a cheeky wee bid from FOH , or as you say Massone. They would then own the club and tynie - would the debt be completely gone?

It really annoys me that they have the belief that they will come out of this debt free and still play at tynie. I just can't see how this is possible? :confused:

Why couldnt we start some cake bakes of our own and get enough to put in our own cheeky wee bid.

[Mikey]

Does anyone know when they're likely to have another payment to HMRC due? That'll be a tricky one to meet :greengrin

[EdinMike]

Does anyone know when they're likely to have another payment to HMRC due? That'll be a tricky one to meet :greengrin

Wasn't there a "Deal" worked out for something to be paid over the next 3 years ?!

Ring those bells !

[Mon Dieu4]

Does anyone know when they're likely to have another payment to HMRC due? That'll be a tricky one to meet :greengrin

im sure its £400k in June and as you confirmed yesterday they are due a hefty payment to UBIG around the same time with no chance of another debt swap or delay likely

[#FromTheCapital]

Wasn't there a "Deal" worked out for something to be paid over the next 3 years ?!

Ring those bells !

Think he's referring to the normal taxes that every business must pay, such as PAYE, VAT etc

[CropleyWasGod]

Does anyone know when they're likely to have another payment to HMRC due? That'll be a tricky one to meet :greengrin

22nd :agree:

[blindsummit]

Where are the share certificates! We demand to know. I don't think Hertz have even properly registered these supposed "shares" yet. If I can figure out how to master Twitter i think there's a need for a #wherearetheshares tag :agree:

[crewetollhibee]

nah, Semtex is the stuff these days:greengrin mkes a far better level (NON) playing field

Fixed that for you :wink:

[Caversham Green]

The widely held view on kickback seems to be that this is all great news and that somehow a new buyer will be able to get the club and tynie for pennies and be debt free as a result of admin.

The widely held view on here is that they are going down the pan.

You seem to be up to speed on this and I was wondering if you've ventured over there to see what they are saying? I appreciate that their is an element of green / maroon tinted specs to the way we are all trying to understand what's going on but there must be some middle ground that even the most yam-hating Hibby and deluded-believing yam can agree on??

Personally I think they will be in admin / liquidated within a week or 2. However, is it not possible that FOH / any other numpties could then purchase tynie for a knock down price and start again as NewHearts in div3?

The way I see it is that the administrators will need to get the best deal possible so if no developers come in for the site then that paves the way for a cheeky wee bid from FOH , or as you say Massone. They would then own the club and tynie - would the debt be completely gone?

It really annoys me that they have the belief that they will come out of this debt free and still play at tynie. I just can't see how this is possible? :confused:

I do look over there regularly and I think most of them over there are being wildly optimistic. To balance that, I don't think they are going to suffer the terrible fate that some on here are anticipating either (although they could).

As things stand UBIG can't realistically sell HoMFC as a going concern for less than the value of the security they've signed over to Ukio, because that money is due from UBIG regardless of what happens re the football club. If UBIG enter administration things change somewhat because then the administrators will just be trying to get as much as they can out of the whole situation and would be more willing to strike a cheaper deal. They will however, have absolutely no concerns about what happens to HoMFC or Tynecastle, they will simply be looking to get as much money as they can for their clients.

I was more concerned when Vlad was in control of the debt tbh - I had a feeling he might 'give' away a debt-free club as a parting gesture, but now control is out of his hands things look much darker for them - everything will be done in a purely commercial way.

I wouldn't like to predict exactly what will happen - there are still too many variables to do that sensibly, but my best bet would be a Massone-owned original HoMFC languishing in SFL1 in the next few years (or in the middle 8 if the reconstruction proposals did take place. A Sevco-style resurrection is probably the worst that could realistically happen to them.

[green glory]

Where are the share certificates! We demand to know. I don't think Hertz have even properly registered these supposed "shares" yet. If I can figure out how to master Twitter i think there's a need for a #wherearetheshares tag :agree:

You can them to the #jambogeddon #maroonsevco #allisbarry hashtags. :-D

[jgl07]

Even should Hearts face a points deduction of 18 points and they were to finish bottom, could the possibility of league reconstruction for next season not save them?

Imagine though if Heart were to be relegated after a points deudction and that saved Dundee, Dundee would have done very well out of Rangers and Hearts spending what they don't have, yet Dundee were done twice for it?

Why would that happen?

A 16/18-team top Division is not on the agenda.

The options are status quo or the new 12+12 format.

[Spike Mandela]

I wouldn't like to predict exactly what will happen - there are still too many variables to do that sensibly, but my best bet would be a Massone-owned original HoMFC languishing in SFL1 in the next few years (or in the middle 8 if the reconstruction proposals did take place. A Sevco-style resurrection is probably the worst that could realistically happen to them.

What you really describe Cav is a differently owned version of us then, except with a few cups and some rollercoaster times in the bag. Surely it's got to be worse for them than that.

[jgl07]

What do you think is best case scenario for them as it stands now CG?

I'm praying that they are either liquidated, or if they manage to squirm their way out of that one, that they at least lose their stadium (when I say stadium I off course mean that pink monstrosity that they like to pass off as a stadium).

My concern there though is that no one will demolish it due to the bad publicity it would bring.

Without serious investment the main stand will have to be closed soon anyway.

The 'new' stands are cheap and nasty. The stadium is doomed.

The best case is probably playing at Livingston in the First Division (or SPL2) next season. They will have to pay wages that they can afford rather than the silly money they have been splashing out from the Mercer period onwards.

Their worst case will be Sevco East playing in Division 3.

[Ozyhibby]

My prediction is a newco renting either Murrayfield, Tynecastle, Easter Road or Livingston.
Murrayfield would seem most likely but the rent will be high for a 3rd division team to sustain.

[lord bunberry]

I do look over there regularly and I think most of them over there are being wildly optimistic. To balance that, I don't think they are going to suffer the terrible fate that some on here are anticipating either (although they could).

As things stand UBIG can't realistically sell HoMFC as a going concern for less than the value of the security they've signed over to Ukio, because that money is due from UBIG regardless of what happens re the football club. If UBIG enter administration things change somewhat because then the administrators will just be trying to get as much as they can out of the whole situation and would be more willing to strike a cheaper deal. They will however, have absolutely no concerns about what happens to HoMFC or Tynecastle, they will simply be looking to get as much money as they can for their clients.

I was more concerned when Vlad was in control of the debt tbh - I had a feeling he might 'give' away a debt-free club as a parting gesture, but now control is out of his hands things look much darker for them - everything will be done in a purely commercial way.

I wouldn't like to predict exactly what will happen - there are still too many variables to do that sensibly, but my best bet would be a Massone-owned original HoMFC languishing in SFL1 in the next few years (or in the middle 8 if the reconstruction proposals did take place. A Sevco-style resurrection is probably the worst that could realistically happen to them.

Do you think massone would pass the fit and proper person's test. I'm sure the sfa don't want another Craig whyte situation

[Saorsa]

Do you think massone would pass the fit and proper person's test. I'm sure the sfa don't want another Craig whyte situationChuckie Green?

that must be some test. :faf:

[s.a.m]

I've wondered about that myself. I can't remember what the fallout was.

[lord bunberry]

Chuckie Green?

that must be some test. :faf:

The sfa do love making rules its enforcing them that's the problem

[Treadstone]

Particularly like the fifth paragraph.

http://www.businessweek.com/news/2013-02-19/lithuania-to-help-deposits-insurer-meet-ukio-insolvency-payouts


The deposit insurance fund would seek to recover its money over time through bankruptcy proceedings for the “bad” part of Ukio’s assets that won’t be taken over by Siauliu, according to Sadzius. “This really is the best of the alternatives we had,” he said.

[sadtom]

Keep it in Leith. The tobacconist at the bottom end of Leith Walk

Fair shout but there is a certain appeal in buying one from a tobacconist which is just a decent gob away from the heart of midlothian.
What the hell! I'll buy 2!! :greengrin

[Kato]

Particularly like the fifth paragraph.

http://www.businessweek.com/news/2013-02-19/lithuania-to-help-deposits-insurer-meet-ukio-insolvency-payouts
But surely Hearts are a good asset given they are a self-sufficient stand alone business now (s******).

[greenginger]

Particularly like the fifth paragraph.

http://www.businessweek.com/news/2013-02-19/lithuania-to-help-deposits-insurer-meet-ukio-insolvency-payoutshttp://www.bloomberg.com/news/2013-02-19/lithuania-to-help-deposits-insurer-meet-ukio-insolvency-payouts.html

Bloomberg saying the same thing.

Now will the Yams be considered a bad ass. or a good ass. ?

[green glory]

http://www.bloomberg.com/news/2013-02-19/lithuania-to-help-deposits-insurer-meet-ukio-insolvency-payouts.html

Bloomberg saying the same thing.

Now will the Yams be considered a bad ass. or a good ass. ?

Only Vlad can answer that one as he's got so much experience shafting them.

[Hibee87]

http://www.bloomberg.com/news/2013-02-19/lithuania-to-help-deposits-insurer-meet-ukio-insolvency-payouts.html

Bloomberg saying the same thing.

Now will the Yams be considered a bad ass. or a good ass. ?

My understanding is Hearts dont fall into any of those catagories, infacr as far as i know dont mean diddly at the moment. What we need to know is if UBIG is a bad or good part? it is only if/when UBIG hit the rocks will it have a direct impact to hearts. At least thats my understanding

[Part/Time Supporter]

My understanding is Hearts dont fall into any of those catagories, infacr as far as i know dont mean diddly at the moment. What we need to know is if UBIG is a bad or good part? it is only if/when UBIG hit the rocks will it have a direct impact to hearts. At least thats my understanding

:agree:

[WhileTheChief..]

Caversham - Thanks for the response.

[steviehibsleith]

Wasn't there a "Deal" worked out for something to be paid over the next 3 years ?!

Ring those bells !
Ring the bells a little louder i believe it is in 3 installments over a year and a half ! 3x 500k payments starting in June . This was for the unpaid tax on all the Lithuanians who were paying zero tax.

[EdinMike]

Ring the bells a little louder i believe it is in 3 installments over a year and a half ! 3x 500k payments starting in June . This was for the unpaid tax on all the Lithuanians who were paying zero tax.

Did they change it recently ?! I knew I read it somewhere..

http://www.independent.co.uk/sport/football/scottish/hearts-agree-settlement-to-pay-back-taxes-8381325.html


Now Hearts have come to an agreement to pay £1.5m over a three-year period.

Whatever the arrangement is, I'de be asking for my money now before they don't get it at all ! *Green-Tinted Glasses are staying ON !*

[poolman]

Ring the bells a little louder i believe it is in 3 installments over a year and a half ! 3x 500k payments starting in June . This was for the unpaid tax on all the Lithuanians who were paying zero tax.


According to Scotzine the first instalment is due in May

I know it's only a month before but it's getting nearer :devil:



http://www.scotzine.com/2012/12/hearts-agree-deal-with-hmrc-over-tax-dispute/

[HibeeMG]

Is it not the case that this "deal" is dependent on them keeping up to date with their current PAYE and VAT payments?

I seem to recall that if they are late with any of these then the "deal" becomes null and void and that the outstanding amount becomes due immediately.

[Mikey]

Is it not the case that this "deal" is dependent on them keeping up to date with their current PAYE and VAT payments?

I seem to recall that if they are late with any of these then the "deal" becomes null and void and that the outstanding amount becomes due immediately.

:agree:

[EdinMike]

Is it not the case that this "deal" is dependent on them keeping up to date with their current PAYE and VAT payments?

I seem to recall that if they are late with any of these then the "deal" becomes null and void and that the outstanding amount becomes due immediately.

Ahh you're right, well remembered ! If I eat Yams does my memory get better ?! :greengrin

[HibeeMG]

:agree:


Ahh you're right, well remembered ! If I eat Yams does my memory get better ?! :greengrin

Well, in that case, I assume some "deferred" wages will be in order to meet PAYE payment day. :greengrin

[Bostonhibby]

http://www.bloomberg.com/news/2013-02-19/lithuania-to-help-deposits-insurer-meet-ukio-insolvency-payouts.html

Bloomberg saying the same thing.

Now will the Yams be considered a bad ass. or a good ass. ?

Jackasses, every one of them

[Caversham Green]

What you really describe Cav is a differently owned version of us then, except with a few cups and some rollercoaster times in the bag. Surely it's got to be worse for them than that.

Not really, we've never languished in the second tier in my lifetime - unlike them we've always made it out again after 1 season, and that's the very best they can hope for IMO. However, I think a future where Hibernian are the predominant team in Edinburgh is almost certain - the extent of the dominance is to do with Hibs rather than Hearts.

I'm seeing their situation now as similar to ours in 1990 - their existence is undoubtedly in the balance and they have virtually no chance of coming out the other end as any real force in Scottish football for at least a decade. Meanwhile I think Hibs have to make the most of this opportunity to become the true third force in Scottish football - sadly, Rangers will inevitably be the second in due course.

[ancient hibee]

274,643,600.00 British Pound Sterling! :shocked:


That's a lot of muffins.

It's interesting if the administrator states that the Ukios Bank liabilities exceed its assets by the above amount because of course a banks liabilities are in fact its deposits(repayable to customers)and its assets are its loans(repayable by its customers).It would seem that all is not what it seems-not surprising.

[Hibeesforever]

Wow, what a day, I have just realised that pretty much every scenario means tough times for Heart of Midlothian.
Of course the big expenditures definitely out there are :
Main stand compliance costs
Debt rollover or forgiveness
HMRC payments
Sale value of Vlads shares

Hearts supporters seem comfortable that everything is "Barry" but I struggle, due to current circumstances in Lithuania, to see how the shear weight and size of the numbers involved versus the businesses turnover could result in anything other than inevitable liquidation!!!!
Nothing on here makes me think otherwise.

[Kato]

My understanding is Hearts dont fall into any of those catagories, infacr as far as i know dont mean diddly at the moment. What we need to know is if UBIG is a bad or good part? it is only if/when UBIG hit the rocks will it have a direct impact to hearts. At least thats my understanding

They're the UBIG team after all. No matter UBIG, Hearts - they owe it to themselves. Given the rhetoric concerning Rooomanov's "vanity projects" over the last week I reckon they might edge into "bad" category somehow.

[Thecat23]

The way I see it, we have couple hundred pages and lets be honest no one is wiser to the state of Hearts. I personally think they will come through this now. I've never met a luckier club than them. Always come out smelling of roses. They will get a buyer the debt will end up written off and they will be back to normal but working with a lower wage but prob still enough to attract better players than the rest. Love to be proved wrong though.

[lucky]

How are functioning? If there banks a goner then they will have to transfer to a new bank other wise nothing will get paid. I doubt any bank will give them facilities. Surely not long now.

[Ozyhibby]

How are functioning? If there banks a goner then they will have to transfer to a new bank other wise nothing will get paid. I doubt any bank will give them facilities. Surely not long now.

Unless Ubig are managing to service their debt to Ukio then I imagine they will be put into admin in the next few days. Automatic 18 point deduction for the Yams.

[lord bunberry]

How are functioning? If there banks a goner then they will have to transfer to a new bank other wise nothing will get paid. I doubt any bank will give them facilities. Surely not long now.

i think they have an account with the bank of scotland as well

[Bostonhibby]

i think they have an account with the bank of scotland as well

:agree: Same one that (allegedly) helped with the inconvenient matter of financial backing for Whalearse's venture all those years ago (lest we forget).

[Geo_1875]

Does anyone know if they actually paid wages this month? I've heard heehaw either way.

[Peevemor]

:agree: Same one that (allegedly) helped with the inconvenient matter of financial backing for Whalearse's venture all those years ago (lest we forget).

They were also Hibs bankers and were very supportive of the club.

[greenginger]

Does anyone know if they actually paid wages this month? I've heard heehaw either way.


There was Banderson's tweet last Friday that the wages had been paid in full, but also the remark by McGoo on Saturday that Serjey had been in the Hearts dressing room before the game v's Killie to thank the players for taking a wage deferral.
Banderson would print anything he was told from the Pink Palace and it was never clarified if the deferral was the one back in December or a new one.

So, none the wiser.

[Malthibby]

Let's not get ourselves frazled - there is nothing to suggest there is anything other than bad news coming for our dear pink friends.
I want them to feel the pain for the last few years & i fully expect to get the pleasure of feeling tht pain.
They are a slow-motion version of the Titanic; the damage is done & no amount of deck chair shuffling is going to keep them afloat.
They are going down.
GG

[Vini1875]

I can't see why a property developer would take the place on. OK the location is close the city centre but hardly prime real estate and the bad blood/press generated might actually be harmful to any project. They may encounter hostile public/yam opinion and encounter a hostile council. hearts would have to offer for sale as the only way of saving themselves before I would see a house builder moving in.

[Ozyhibby]

I can't see why a property developer would take the place on. OK the location is close the city centre but hardly prime real estate and the bad blood/press generated might actually be harmful to any project. They may encounter hostile public/yam opinion and encounter a hostile council. hearts would have to offer for sale as the only way of saving themselves before I would see a house builder moving in.

A housebuilder would buy and happily bank the land for ten years if need be. By then, it would be just another gap site that the city would be desperate to be developed. Market conditions would likely have improved by then as well.
Don't kid your self that this is not desirable land. 6 acres (more if you add the school) close to the city centre.
There will be more than a few interested parties.

[lord bunberry]

I can't see why a property developer would take the place on. OK the location is close the city centre but hardly prime real estate and the bad blood/press generated might actually be harmful to any project. They may encounter hostile public/yam opinion and encounter a hostile council. hearts would have to offer for sale as the only way of saving themselves before I would see a house builder moving in.

I disagree i think the pbs is prime real estate. Cala were prepared to pay upwards of 20m for it 5 years ago so its still going to be worth a few quid now. I would imagine if a property developer were to buy it they would just flatten it and wait till the market picks up before building on the site, this would also allow any tensions with the fans to die down

[crewetollhibee]

I can't see why a property developer would take the place on. OK the location is close the city centre but hardly prime real estate and the bad blood/press generated might actually be harmful to any project. They may encounter hostile public/yam opinion and encounter a hostile council. hearts would have to offer for sale as the only way of saving themselves before I would see a house builder moving in.
This has been my thoughts too. The other factor (from a developer's point of view), is that no Yams would consider buying a place there. P.S maybe a good few of us would think twice too !!

[CentreLine]

This has been my thoughts too. The other factor (from a developer's point of view), is that no Yams would consider buying a place there. P.S maybe a good few of us would think twice too !!

I think the reverse might be true. Lots of hahahahearts fans might want a home there precicely because its on or close to their favourite spot where the stadium used to stand. It could be a great selling point rather than a hinderence. Imagine we had gone belly up in 1990 I think a lot of us might have been tempted for auld times sake

[s.a.m]

Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

[Benny Brazil]

Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

:thumbsup:

Its a start........dare I say .................Tick Tock?

[Spike Mandela]

Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

May? No **** Mr Bloomberg:rolleyes:

[s.a.m]

:thumbsup:

Its a start........dare I say .................Tick Tock?

:greengrin Not sure it's based on any new info, to be honest, but it's nice to see it dawning on media sorts that Vlad's empire imploding may have awkward implications for Hearts.

[Part/Time Supporter]

Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

He's taking it from this article.

http://www.bloomberg.com/news/2013-02-19/lithuania-to-help-deposits-insurer-meet-ukio-insolvency-payouts.html


The central bank said yesterday it plans to sell Ukio’s assets and liabilities to Siauliu Bankas AB, reducing the obligations for the deposit insurer to an estimated 800 million litai.

The deposit insurance fund would seek to recover its money over time through bankruptcy proceedings for the “bad” part of Ukio’s assets that won’t be taken over by Siauliu, according to Sadzius. “This really is the best of the alternatives we had,” he said.

The PBS has been pledged as security against some of the bad assets (loans by Ukio to UBIG).

[Hibeesforever]

:greengrin Not sure it's based on any new info, to be honest, but it's nice to see it dawning on media sorts that Vlad's empire imploding may have awkward implications for Hearts.

Yes, I woke up this morning to the radio reporter interviewing a banking expert gentleman from Lithuania who said it was very unclear who owed who and what but was certain Ukio Banks held some form of loan security over Tynecastle.

Spring in my step going to work since that means only two things- Full loan has to be honoured or an end if season immediate repayment order because the bank have no funds to roll the lending over.

I must take a moment now because in the absense of any investor with about £35 million arriving in Edinburgh, two outcomes are evident. A 25 year repayment plan ? Or immediate/ end of season administration.

Good luck to Hearts in the cup final, it could be a very long time before they return to challenge the professional ranks again!

[hibsbollah]

Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

The big hoose will stay open the big hoose will stay open the big hoose will stay open (repeat to fade)....

[EuanH78]

If a builder takes over the plot to build flats, will they seek suggestions for street names?

I suggest 'Saville Row' :greengrin

[Moulin Yarns]

Yes, I woke up this morning to the radio reporter interviewing a banking expert gentleman from Lithuania who said it was very unclear who owed who and what but was certain Ukio Banks held some form of loan security over Tynecastle.

Spring in my step going to work since that means only two things- Full loan has to be honoured or an end if season immediate repayment order because the bank have no funds to roll the lending over.

I must take a moment now because in the absense of any investor with about £35 million arriving in Edinburgh, two outcomes are evident. A 25 year repayment plan ? Or immediate/ end of season administration.

Good luck to Hearts in the cup final, it could be a very long time before they return to challenge the professional ranks again!

And i feel like this is getting closer http://www.youtube.com/watch?v=oXvJ8UquYoo

[macca70]

Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

Unbelievable, Heid in the sand brigade across the road reckon this is a good thing. Also stating that its nothing new as its always been up for sale, just been over valued by Romanov.

They're really struggling to grasp the seriousness of the situation.

What I don't get is, why do they think that any Adminastrators or whoever is taking over Ukio is going to give any consideration to some debt ridden little football club. They'll do whatever is best for the situation in Lithuania and if that means wiping out Hearts, I doubt any Lithuanian Bankers tidying up Romanovs mess are really going to lose too much sleep.

[Part/Time Supporter]

Unbelievable, Heid in the sand brigade across the road reckon this is a good thing. Also stating that its nothing new as its always been up for sale, just been over valued by Romanov.

They're really struggling to grasp the seriousness of the situation.

What I don't get is, why do they think that any Adminastrators or whoever is taking over Ukio is going to give any consideration to some debt ridden little football club. They'll do whatever is best for the situation in Lithuania and if that means wiping out Hearts, I doubt any Lithuanian Bankers tidying up Romanovs mess are really going to lose too much sleep.

The security was switched from UBIG to Ukio on 11 December. Yams need to ask themselves why this was done. Most likely it was a desperate (now failed) effort by Romanov to prop up Ukio, by strengthening its balance sheet.

[Bill Milne]

Just been looking at Keechback. The general concensus over there seems to be that all debt will be written off, the club will be sold at a knockdown price to any interested party and Hertz will, therefore, come out of this smelling of roses. Head in the sand or what?

[TrickyNicky]

The security was switched from UBIG to Ukio on 11 December. Yams need to ask themselves why this was done. Most likely it was a desperate (now failed) effort by Romanov to prop up Ukio, by strengthening its balance sheet.


Oh no, that's terrible!:worried:


Just been looking at Keechback. The general concensus over there seems to be that all debt will be written off, the club will be sold at a knockdown price to any interested party and Hertz will, therefore, come out of this smelling of roses. Head in the sand or what?

It's not sand, it's baking powder!

One scenario that appears to have their fans breathing easier today is this:

Relevant Debts:
~£16m - UBIG, unsecured.
£6.8m - Ukio Bankas, secured (via floating charge over Tynecastle, to the tune of £6.8m + all sums that become due between us and UB, including interest and charges)

Ukio Bankas:
Siauliu Bankas seem to think that the Bank of Lithuania are to transfer "the assets, rights, transactions and liabilities" of Ukio to them, "without exceeding the limit as provided in the Republic of Lithuania Law on Insurance of Deposits and Liabilities to Investors." From what I understand, the European Bank for Reconstruction and Development (SB's largest shareholder and seemingly a tool rich capitalist countries use to encourage capitalism in ex-communist countries) are pumping a fair chunk of cash into the bank to allow this to happen. Presumably some of these assets will be declared toxic, and fobbed off on the government. It seems possible (likely?) that the floating charge over Tynecastle will end up with Siauliu Bankas. Totally outwith Vlad's control, and with us owing SB £6.8m + any interest and charges they then see fit to apply. They may well look for instant repayment, but why would they? They'll not get anywhere near £6.8m if they put Hearts into administration.

UBIG:
As of last night, UBIG appear to have absolutely zero to gain from HMFC. Administration (and liquidation) would mean paying someone else to give Siauliu Bankas the proceeds of the sale of Tynecastle and give them nothing (UBIG agreed they "shall not take any steps to enforce the security created pursuant to the Floating Charge..."). Given they can't recoup anything from Tynecastle (they've effectively sold it to UB for £6.8m), HMFC are basically worthless as a genuine asset. So since they have nothing to gain from liquidating the club, it seems like any bid for the club would be preferable to them. i.e. 1p on the £ would be better than the alternatives.
If UBIG themselves were to go into administration, my understanding is, we don't automatically go into administration. Instead, UBIG's administrator would look to get the best value for the Lithuanian tax payer from UBIG's assets. In other words, as explained above, sell us to the highest bidder (leaving Siauliu Bankas' floating charge in place).

Anyone care to tear it to shreds?

[#FromTheCapital]

Just been looking at Keechback. The general concensus over there seems to be that all debt will be written off, the club will be sold at a knockdown price to any interested party and Hertz will, therefore, come out of this smelling of roses. Head in the sand or what?


To be fair the debt will be written off one way or another because there is no way that they are able to pay it back. Lets just hope that they go bust first :agree:

[Part/Time Supporter]

One scenario that appears to have their fans breathing easier today is this:

Relevant Debts:
~£16m - UBIG, unsecured.
£6.8m - Ukio Bankas, secured (via floating charge over Tynecastle, to the tune of £6.8m + all sums that become due between us and UB, including interest and charges)

Ukio Bankas:
Siauliu Bankas seem to think that the Bank of Lithuania are to transfer "the assets, rights, transactions and liabilities" of Ukio to them, "without exceeding the limit as provided in the Republic of Lithuania Law on Insurance of Deposits and Liabilities to Investors." From what I understand, the European Bank for Reconstruction and Development (SB's largest shareholder and seemingly a tool rich capitalist countries use to encourage capitalism in ex-communist countries) are pumping a fair chunk of cash into the bank to allow this to happen. Presumably some of these assets will be declared toxic, and fobbed off on the government. It seems possible (likely?) that the floating charge over Tynecastle will end up with Siauliu Bankas. Totally outwith Vlad's control, and with us owing SB £6.8m + any interest and charges they then see fit to apply. They may well look for instant repayment, but why would they? They'll not get anywhere near £6.8m if they put Hearts into administration.

UBIG:
As of last night, UBIG appear to have absolutely zero to gain from HMFC. Administration (and liquidation) would mean paying someone else to give Siauliu Bankas the proceeds of the sale of Tynecastle and give them nothing (UBIG agreed they "shall not take any steps to enforce the security created pursuant to the Floating Charge..."). Given they can't recoup anything from Tynecastle (they've effectively sold it to UB for £6.8m), HMFC are basically worthless as a genuine asset. So since they have nothing to gain from liquidating the club, it seems like any bid for the club would be preferable to them. i.e. 1p on the £ would be better than the alternatives.
If UBIG themselves were to go into administration, my understanding is, we don't automatically go into administration. Instead, UBIG's administrator would look to get the best value for the Lithuanian tax payer from UBIG's assets. In other words, as explained above, sell us to the highest bidder (leaving Siauliu Bankas' floating charge in place).

Anyone care to tear it to shreds?

It's complete nonsense because the UBIG loans (and associated assets) will not be transferred to the other Lithuanian bank. As explained in the Bloomberg article linked above, the Lithuanian Government is borrowing about £200M to cover the excess of deposits over good loans that will be transferred to the other bank. In turn the Government will need to realise as much as it can from the bad loans to reduce that loss.

[Bostonhibby]

Just been looking at Keechback. The general concensus over there seems to be that all debt will be written off, the club will be sold at a knockdown price to any interested party and Hertz will, therefore, come out of this smelling of roses. Head in the sand or what?

Yep, all good then, hopefully this latest minor inconvenience will go away and the Megasuperhotelstadium will still be built with the money from the Champions League win Blah blah blah.

There will apparently be a rainbow permanently over tiny, the ground itself will be a giant 3D one and all toothless fans will be given free gold teeth, you may doubt this but Mr Romanov owns a bank you know.

[Heraghty's]

Tynecastle will be put up for sale to the highest bidder.
Will that be a property speculator looking to build Flats, Flats, Glorious Flats . . . or someone looking to own Hearts or lease the ground to them?
That's probably 50/50 right now.

Of bigger concern to Jambos at this precise moment should be the fact their club has no money. Like, ZERO cash.
Administration is unavoidable. Liquidation a possibility, depending on how much they owe the taxman.
It's probably 50/50 whether they will find enough cash to see out the season.
Then it will be Fire Sale time for the team and highest bidder gets the club.
No one will step in until administrators are appointed and it is confirmed that Mad Vlad is off the scene for good, cruising towards the Caribbean in his submarine.
My feeling is that there will be a team calling itself Hearts playing next season.
In, at best, SFL1. :agree:

[Treadstone]

Douglas Fraser‏@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells

Here is the Good Morning Scotland with the reporter on it. Don't think he really has anything new to say beyond his earlier reports. Starts at 44:20.

http://www.bbc.co.uk/iplayer/episode/b01qkrs7/Good_Morning_Scotland_20_02_2013/

[green glory]

I wonder if the bookies are taking bets on the Yams surviving the season. Probably worse odds than the 14/1 for the much anticipated pandahumps.

[Depor Hibs]

If a builder takes over the plot to build flats, will they seek suggestions for street names?

I suggest 'Saville Row' :greengrin

Tynecastle Green?

[Peevemor]

For me, what could happen is that the adminstrator/UBIG/UKIO/whoever sell the football club along with Tynie to someone (FOH?) for a symbolic £1 (or maybe even 1€ if they can't raise a quid), on provision that they take on at least some of the debt (£20m?), scheduled to be repaid over 20-25 years, with repayments starting during the close season.

If this was to happen quickly (ie. before UBIG go into administration) they could struggle on to the end of the season with a relatively small cash injection - maybe a couple of million quid to pay wages, the first tax installment, etc.), leaving them to start with a clean slate next season, with their ST money intact, but with a hefty debt to service - though remember Hibs were £16-18m in debt not too long ago.

However, if nothing happens quickly then they're daffied. UBIG will go down the cludgie taking Hearts with them, leading to an automatic points deduction, probable non payment of wages and the first tax installment, further sanctions and every possibilty of Pheonix Merrick FC trying desperately to get into D3 with no ground to call their own, no 3 years of accounts (or none that make sense in any case) and a lot less clout in terms of tv and sponsorship deals than Sevco.

I'm not sure how anything between the 2 scenarios could happen.

[hibs0666]

For me, what could happen is that the adminstrator/UBIG/UKIO/whoever sell the football club along with Tynie to someone (FOH?) for a symbolic £1 (or maybe even 1€ if they can't raise a quid), on provision that they take on at least some of the debt (£20m?), scheduled to be repaid over 20-25 years, with repayments starting during the close season.

If this was to happen quickly (ie. before UBIG go into administration) they could struggle on to the end of the season with a relatively small cash injection - maybe a couple of million quid to pay wages, the first tax installment, etc.), leaving them to start with a clean slate next season, with their ST money intact, but with a hefty debt to service - though remember Hibs were £16-18m in debt not too long ago.

However, if nothing happens quickly then they're daffied. UBIG will go down the cludgie taking Hearts with them, leading to an automatic points deduction, probable non payment of wages and the first tax installment, further sanctions and every possibilty of Pheonix Merrick FC trying desperately to get into D3 with no ground to call their own, no 3 years of accounts (or none that make sense in any case) and a lot less clout in terms of tv and sponsorship deals than Sevco.

I'm not sure how anything between the 2 scenarios could happen.

I might be totally off-beam, but I'm not sure that anything can be happen ownership-wise due to the ownership/security complexities, and the likelihood that no bidder has yet been given access to the true financial horror of the club.

Administration - either by running our of cash or by UBIG being dragged under - now seems the most likely outcome to me.

[Kato]

I doubt Hearts/UBIG/Fedotas will have any say in who buys Hearts/anythingHeartsrelated. If they tried I'm sure the Lithuanian authorities would step in and put the blockers on.

[JeMeSouviens]

I might be totally off-beam, but I'm not sure that anything can be happen ownership-wise due to the ownership/security complexities, and the likelihood that no bidder has yet been given access to the true financial horror of the club.

Administration - either by running our of cash or by UBIG being dragged under - now seems the most likely outcome to me.

Agreed. I think UBIG's admin or more likely liquidation is inevitable. Best case for HMFC is that UBIG manages to limp as far as the SPL split. I think if the points deduction comes post-split they will still finish 6th. If Massone or the mystery Scandics have a few million to burn then it's just about possible they could be sold complete with Tiny. Hopefully there's at least one developer out there to outbid them and leave them paying rent or homeless.

[Liberal Hibby]

Agreed. I think UBIG's admin or more likely liquidation is inevitable. Best case for HMFC is that UBIG manages to limp as far as the SPL split. I think if the points deduction comes post-split they will still finish 6th. If Massone or the mystery Scandics have a few million to burn then it's just about possible they could be sold complete with Tiny. Hopefully there's at least one developer out there to outbid them and leave them paying rent or homeless.

They're not looking particularly good for a top six finish at the moment and an 18 point deduction takes them below Dundee either before the split or in the bottom six.

[JeMeSouviens]

They're not looking particularly good for a top six finish at the moment and an 18 point deduction takes them below Dundee either before the split or in the bottom six.

Sorry, I meant to say UBIG limp along and they somehow rouse themselves to a few decent results. Neither condition looking at all likely (shame).

If we don't make the top 6 we might get to go to Tiny and relegate them. Now that would be a good day out. :wink:

[EdinMike]

They're not looking particularly good for a top six finish at the moment and an 18 point deduction takes them below Dundee either before the split or in the bottom six.

I can't see them making top 6, and good because if they get that far, finishing in the top 6 would be a little cash injection. But frankly by then, any money coming in would be like King Canute trying to turn back the tide.

Pointless.

[Ozyhibby]

For me, what could happen is that the adminstrator/UBIG/UKIO/whoever sell the football club along with Tynie to someone (FOH?) for a symbolic £1 (or maybe even 1€ if they can't raise a quid), on provision that they take on at least some of the debt (£20m?), scheduled to be repaid over 20-25 years, with repayments starting during the close season.

If this was to happen quickly (ie. before UBIG go into administration) they could struggle on to the end of the season with a relatively small cash injection - maybe a couple of million quid to pay wages, the first tax installment, etc.), leaving them to start with a clean slate next season, with their ST money intact, but with a hefty debt to service - though remember Hibs were £16-18m in debt not too long ago.

I'm not sure that is what an administrator is there to do. I can't see them setting up a long term finance agreement.

[Russell The Dug]

Anyone else get a feeling they will squirm out of all the **** untouched as per usual?

Come on the Lith administrators do your job a wee but faster and get they scarf twirling pricks down the pan!

[Treadstone]

I might be totally off-beam, but I'm not sure that anything can be happen ownership-wise due to the ownership/security complexities, and the likelihood that no bidder has yet been given access to the true financial horror of the club.

Administration - either by running our of cash or by UBIG being dragged under - now seems the most likely outcome to me.

This.

I think its been 20 months since anyone seen their accounts. Anyone who thinks that they are coming out of this unscathed whatever happens is living in cloud cuckoo land.:crazy:

[Peevemor]

I'm not sure that is what an administrator is there to do. I can't see them setting up a long term finance agreement.

A bank that took on UKIO/UBIG's debts might. Hearts with a turnover of around £8m(?) and a debt of say £15-20m would be a going concern (although they would have to change their wage structure a bit :greengrin) and at least the bank would get some money. Otherwise they'll have to try to sell Tynie at the worst possible time.

[MacBean]

For me, what could happen is that the adminstrator/UBIG/UKIO/whoever sell the football club along with Tynie to someone (FOH?) for a symbolic £1 (or maybe even 1€ if they can't raise a quid), on provision that they take on at least some of the debt (£20m?), scheduled to be repaid over 20-25 years, with repayments starting during the close season.

If this was to happen quickly (ie. before UBIG go into administration) they could struggle on to the end of the season with a relatively small cash injection - maybe a couple of million quid to pay wages, the first tax installment, etc.), leaving them to start with a clean slate next season, with their ST money intact, but with a hefty debt to service - though remember Hibs were £16-18m in debt not too long ago.

However, if nothing happens quickly then they're daffied. UBIG will go down the cludgie taking Hearts with them, leading to an automatic points deduction, probable non payment of wages and the first tax installment, further sanctions and every possibilty of Pheonix Merrick FC trying desperately to get into D3 with no ground to call their own, no 3 years of accounts (or none that make sense in any case) and a lot less clout in terms of tv and sponsorship deals than Sevco.

I'm not sure how anything between the 2 scenarios could happen.


I agree that both of these are the most likely and very probable.

The biggest issue with scenario 1 is finding out how much Hearts' debt level currently is. The last report was c. £22m but that was 20 months ago in their 2011 annual accounts. Nobody has been able to identify how much that has gone up since then. The debt won't have decreased due to all the shenanigans in November etc.

The lack of media attention on this baffles me. They had daily updates on the whole Rangers shambles and i've yet to see an actual news report on how much doodoo hearts are in.


I'm not sure that is what an administrator is there to do. I can't see them setting up a long term finance agreement.


It wouldn't be the administrator that would set up the long term finance agreement. It would be the owner of the UKIO bankas "asset", which in this case is Hearts' debt.

[Peevemor]

I agree that both of these are the most likely and very probable.

The biggest issue with scenario 1 is finding out how much Hearts' debt level currently is. The last report was c. £22m but that was 20 months ago in their 2011 annual accounts. Nobody has been able to identify how much that has gone up since then. The debt won't have decreased due to all the shenanigans in November etc.

The lack of media attention on this baffles me. They had daily updates on the whole Rangers shambles and i've yet to see an actual news report on how much doodoo hearts are in.

With all the debt for equity stuff, they must be into UBIG for £50-60m!

[Just Alf]

lifted this from the Savilles....

The following has been cut and pasted directly from parts of the recent share issue prospectus.

'Now, after more than seven years since the original purchase of Heart of Midlothian plc by UAB Ukio Banko Investicine Grupe (UBIG), the majority shareholder of the Company, Hearts supporters and others are being offered the first chance since 2005 to potentially step towards a supporter-owned football club.

The Company’s balance sheet is negative and the Company would be insolvent (on the basis of being unable to pay its debts as they fall due) without the ongoing support of UBIG or alternative funding.Whilst the Company has short-term comfort from UBIG that it will not call up its debt, there is no guarantee that UBIG will not do so in the future, although the Board takes comfort from the fact that UBIG has supported the Club from 2006 to date by funding and debt restructuring.

As at the 30th of June 2011 the amount due to the parent company, UAB Ukio Banko Investicine Grupe, was £22,413,000, which amount bears interest at 4.5%. UAB Ukio Banko Investicine Grupe have confirmed to the Directors of Heart of Midlothian plc. that they will not seek repayment of this amount during season 2012/2013 and at the 1st July 2013 the position will be reassessed. The balance due to UAB Ukio Banko Investicine Grupe is secured by a standard security over Tynecastle stadium and a floating charge across the company’s assets. If UBIG were to demand repayment of the full amount, the Company would be insolvent and would face liquidation.

Whilst UBIG has expressed a current intention to explore the possibility of allowing the club’s supporters the opportunity to acquire over time a majority stake in the Company’s share capital and has positioned the current offer as the first step towards that possibility, there is no commitment on the part of UBIG to continue with this current intention and the Company’s debt levels are such that further debt capitalisations may be required in the future, which would have the effect of significantly diluting the other shareholders’ interests in the Company. For so long as UBIG owns or controls more than 75% of the Company’s share capital, it will be able to pass the resolutions required to effect any such debt capitalisation.

The Company is largely owned and absolutely controlled by UBIG and will continue to be controlled by UBIG for so long as it owns more than 50% of the Company’s share capital. Unlike directors, who owe certain duties to the shareholders of the Company, UBIG does not and can largely act out of self-interest at any time, although the Board takes comfort from the fact that UBIG has supported the Club from 2006 to date by funding and debt restructuring.

So the Savilles OWN documents show things could be a wee bit shaky for them..... and for UBIG, read Lith Central bank/Lith Administrators if UBIG goes tits up

:cb

[MacBean]

lifted this from the Savilles....

The following has been cut and pasted directly from parts of the recent share issue prospectus.

'Now, after more than seven years since the original purchase of Heart of Midlothian plc by UAB Ukio Banko Investicine Grupe (UBIG), the majority shareholder of the Company, Hearts supporters and others are being offered the first chance since 2005 to potentially step towards a supporter-owned football club.

The Company’s balance sheet is negative and the Company would be insolvent (on the basis of being unable to pay its debts as they fall due) without the ongoing support of UBIG or alternative funding.Whilst the Company has short-term comfort from UBIG that it will not call up its debt, there is no guarantee that UBIG will not do so in the future, although the Board takes comfort from the fact that UBIG has supported the Club from 2006 to date by funding and debt restructuring.

As at the 30th of June 2011 the amount due to the parent company, UAB Ukio Banko Investicine Grupe, was £22,413,000, which amount bears interest at 4.5%. UAB Ukio Banko Investicine Grupe have confirmed to the Directors of Heart of Midlothian plc. that they will not seek repayment of this amount during season 2012/2013 and at the 1st July 2013 the position will be reassessed. The balance due to UAB Ukio Banko Investicine Grupe is secured by a standard security over Tynecastle stadium and a floating charge across the company’s assets. If UBIG were to demand repayment of the full amount, the Company would be insolvent and would face liquidation.

Whilst UBIG has expressed a current intention to explore the possibility of allowing the club’s supporters the opportunity to acquire over time a majority stake in the Company’s share capital and has positioned the current offer as the first step towards that possibility, there is no commitment on the part of UBIG to continue with this current intention and the Company’s debt levels are such that further debt capitalisations may be required in the future, which would have the effect of significantly diluting the other shareholders’ interests in the Company. For so long as UBIG owns or controls more than 75% of the Company’s share capital, it will be able to pass the resolutions required to effect any such debt capitalisation.

The Company is largely owned and absolutely controlled by UBIG and will continue to be controlled by UBIG for so long as it owns more than 50% of the Company’s share capital. Unlike directors, who owe certain duties to the shareholders of the Company, UBIG does not and can largely act out of self-interest at any time, although the Board takes comfort from the fact that UBIG has supported the Club from 2006 to date by funding and debt restructuring.

So the Savilles OWN documents show things could be a wee bit shaky for them..... and for UBIG, read Lith Central bank/Lith Administrators if UBIG goes tits up

:cb

Great find :aok:

[kev1875]

Agricultural Bank of healthy assets and liabilities will attempt to pass Siauliai bank and bad bank liabilities to leave BANKRUPTCY. It is stated that the Bank would transfer all insured deposits and borrowed a healthy bank assets. Successful conclusion of the negotiations in Siauliai Bank of Economy Bank should take over not only the 2.7 billion. £ value of the insured deposits, but also the value of loans. The problem is that the economic value of the bank such as good credit is probably not as many of them have been issued with Vladimir Romanov-related businesses. Missing part of the good loans (600-800 million. Dollars) will cover the SE Deposit and Investment Insurance, writes "Business News". According to the Bank Finasta analyst Thaddeus Poviliauskas theory Šiauliai Economy Bank for the good of the bank to pay anything, because how will the assets and assume the same obligations. However, analysts said the bank takes over Siauliai Farm Bank customers have secured market share and expand the geography of activities, so some sort of amount for foreclosed assets are likely to pay. T. Povilauskas think that the price can range from a symbolic LTL to higher amounts which would have covered the depositable assets. Agricultural Bank of temporary administrator and Siauliai bank negotiations for property acquisition is expected to close this week.

[HIBERNIAN-0762]

Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.

Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?

[CropleyWasGod]

Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.

Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?

On what grounds?

[Peevemor]

Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.

Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?

Boring? It's just getting interesting.

In any case, you don't have to read it. :bye:

[clerriehibs]

Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.

Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?

Ffs

[Lucius Apuleius]

Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.

Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?

nah, think we will keep it going just a little bit longer. If that is OK with you that is?

If it is not OK with you, do one and stop reading it. :wink:

[Hank Schrader]

Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.

Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?

Away and bile yer heid.

[JeMeSouviens]

Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.

Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?

Why do you want a peep from the media? Judging by their performance through Hunmageddon, they're the last place you should look for news. :rolleyes:

[scoopyboy]

Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.

Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?

I like it to be honest, it cheers me up when I'm a tad down in spirits.

Once they have ceased to exist (Monty Python classic) IMO is the time to close it.

Until then keep up the fine work, your all doing very well (young Mr. Grace in Are You Being Served).

[HUTCHYHIBBY]

tynecastle green?

skidd row?

[Pete]

lifted this from the Savilles....

The following has been cut and pasted directly from parts of the recent share issue prospectus.

'Now, after more than seven years since the original purchase of Heart of Midlothian plc by UAB Ukio Banko Investicine Grupe (UBIG), the majority shareholder of the Company, Hearts supporters and others are being offered the first chance since 2005 to potentially step towards a supporter-owned football club.

The Company’s balance sheet is negative and the Company would be insolvent (on the basis of being unable to pay its debts as they fall due) without the ongoing support of UBIG or alternative funding.Whilst the Company has short-term comfort from UBIG that it will not call up its debt, there is no guarantee that UBIG will not do so in the future, although the Board takes comfort from the fact that UBIG has supported the Club from 2006 to date by funding and debt restructuring.

As at the 30th of June 2011 the amount due to the parent company, UAB Ukio Banko Investicine Grupe, was £22,413,000, which amount bears interest at 4.5%. UAB Ukio Banko Investicine Grupe have confirmed to the Directors of Heart of Midlothian plc. that they will not seek repayment of this amount during season 2012/2013 and at the 1st July 2013 the position will be reassessed. The balance due to UAB Ukio Banko Investicine Grupe is secured by a standard security over Tynecastle stadium and a floating charge across the company’s assets. If UBIG were to demand repayment of the full amount, the Company would be insolvent and would face liquidation.

Whilst UBIG has expressed a current intention to explore the possibility of allowing the club’s supporters the opportunity to acquire over time a majority stake in the Company’s share capital and has positioned the current offer as the first step towards that possibility, there is no commitment on the part of UBIG to continue with this current intention and the Company’s debt levels are such that further debt capitalisations may be required in the future, which would have the effect of significantly diluting the other shareholders’ interests in the Company. For so long as UBIG owns or controls more than 75% of the Company’s share capital, it will be able to pass the resolutions required to effect any such debt capitalisation.

The Company is largely owned and absolutely controlled by UBIG and will continue to be controlled by UBIG for so long as it owns more than 50% of the Company’s share capital. Unlike directors, who owe certain duties to the shareholders of the Company, UBIG does not and can largely act out of self-interest at any time, although the Board takes comfort from the fact that UBIG has supported the Club from 2006 to date by funding and debt restructuring.

So the Savilles OWN documents show things could be a wee bit shaky for them..... and for UBIG, read Lith Central bank/Lith Administrators if UBIG goes tits up

:cb

I take comfort from posts like this.

[Sergy Pie]

Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.

Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?

We're all frustrated this is taking so long but patience is needed here. Not long now, stick in there, it will be worth it.

[cam75]

I like it to be honest, it cheers me up when I'm a tad down in spirits.

Once they have ceased to exist (Monty Python classic) IMO is the time to close it.

Until then keep up the fine work, your all doing very well (young Mr. Grace in Are You Being Served).

I enjoy a good read of this page,
if he don't like it don't read it!

[southfieldhibby]

https://twitter.com/BryanPBradley

[HUTCHYHIBBY]

Heres an alternative option involving Hearts demise, this would appear to be the prime time for someone to come along and snap up both Edinburgh clubs and establish The Capital as a one club city playing at ER. Maybe all this infrastructure was put in place for a reason!

Surprised its not been tried before if I'm honest! ;-)

[Jim44]

Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.

Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?

Absolutely delighted that our succulent lamb media clowns are staying schtum on recent developements. If they were commenting, it would only be pro HoMFC waffle, as it is in their long term interests to protect them and keep them as intact as long as possible. If, Hibernian 0762, you are bored with the thread, take a break and we'll call you when the real party starts. :greengrin

[EdinMike]

I dunno why but I find myself writing a parody of Green Days "Wake Me Up When September Ends"... Work in process !

"Vlads reign has come and passed
The cheating **** will never last
Wake me up when Tynecastle ends

Like your main stand it's in the past
Seven years has gone so fast
Wake me up when Tynecastle ends.."

[JeMeSouviens]

I dunno why but I find myself writing a parody of Green Days "Wake Me Up When September Ends"... Work in process !

"Vlads reign has come and passed
The cheating **** will never last
Wake me up when Tynecastle ends

Like your main stand it's in the past
Seven years has gone so fast
Wake me up when Tynecastle ends.."

Surely Good Riddance would be more appropriate? :confused::greengrin

[Treadstone]

https://twitter.com/BryanPBradley

Jamie Borthwick says it will be on STV site in an hour (that was at 1:15pm) and says the quotes are better than the ones on Good Morning Scotland.

https://twitter.com/jamiekborthwick

[magpie1892]

Closure of this thread long overdue

I'm feeling 99% enjoyment of this thread. If you don't want to read it, just stay away. Why should you dictate what makes a story? Bear in mind that I've worked at numerous papers and you're setting yourself up as THE editor with silly comments like this.

You're not the editor, you're not a moderator, so just leave the rest of us to it, please.

[GreenCastle]

Just out of interest - can someone confirm it's a 10 point deduction for administration and not 18 I have seen posted several times.

What are the chances of the yams going into administration ?

As I see it Vlad's empire has crumbled in a big way and he doesn't have the back up he used to have to shift money sources.

They are still stuck with players they can't afford - however keep bringing loans in ?:confused:

Debt free or not they still have a major problem with the stadium - the old stand - the current stands maintenance and no money to build anything let alone replace the main stand.

They are losing Zaliukas / Grainger (end of contracts) and probably Webster and Novikovas. Ngoo and Wilson won't be around next season either.

They may win the cup final but bottom 6 would really hurt them so lets hope they end up there as the fans won't be interested in meaningless games (meaning less money for the club) with Dundee looking like they will go down.

Next season will be interesting to see their team and what state the club will be in - surely their luck has run out ?

[Cod Boy]

with driver leaving they will probably bring in another player who is a free agent

[Caversham Green]

For me, what could happen is that the adminstrator/UBIG/UKIO/whoever sell the football club along with Tynie to someone (FOH?) for a symbolic £1 (or maybe even 1€ if they can't raise a quid), on provision that they take on at least some of the debt (£20m?), scheduled to be repaid over 20-25 years, with repayments starting during the close season.

If this was to happen quickly (ie. before UBIG go into administration) they could struggle on to the end of the season with a relatively small cash injection - maybe a couple of million quid to pay wages, the first tax installment, etc.), leaving them to start with a clean slate next season, with their ST money intact, but with a hefty debt to service - though remember Hibs were £16-18m in debt not too long ago.

However, if nothing happens quickly then they're daffied. UBIG will go down the cludgie taking Hearts with them, leading to an automatic points deduction, probable non payment of wages and the first tax installment, further sanctions and every possibilty of Pheonix Merrick FC trying desperately to get into D3 with no ground to call their own, no 3 years of accounts (or none that make sense in any case) and a lot less clout in terms of tv and sponsorship deals than Sevco.

I'm not sure how anything between the 2 scenarios could happen.

Not sure Scenario 1 works Peeve. What it boils down to is the administrator or buying bank (per your later post) giving the buyers of HoMFC a long-term loan/mortgage to buy and operate the club. That would have to be either unsecured or secured on Tynie which is nowhere near the value of the loan you're suggesting. Ukio's administrator can't do that because the bank's licence has been revoked and it would be a huge risk for the buying bank to offer that sort of facility to a club that hasn't made a profit since Grampa was a lad. I would also maintain that the assigned security is a block on any undervalue sale of the club or tynie for as long as UBIG remain solvent. From the buyer's point of view they would be better waiting for a liquidation/administration sale to pick up the assets at sale value and then take a bank loan to pay for it if they could get one.

Funnily enough there's no guarantee that a newco would go into D3 either - IIRC the decision on that change to the rules was that each case would be decided on its merits so it's possible that a Newyam could be voted into the SPL. Annoying in one respect, but the bleating and whining from Govan would be priceless.

[Mikey]

Definitely 18 points. It's 1/3 of the previous season's points total, rounded up. They finished with 52 points last season.

[Treadstone]

Just out of interest - can someone confirm it's a 10 point deduction for administration and not 18 I have seen posted several times.



A third of your previous seasons points rounded up or 10pts whichever is greater. 2011-2012 52pts.

[GreenCastle]

Definitely 18 points. It's 1/3 of the previous season's points total, rounded up. They finished with 52 points last season.

How many were Oldco deducted ?

[green glory]

Heres an alternative option involving Hearts demise, this would appear to be the prime time for someone to come along and snap up both Edinburgh clubs and establish The Capital as a one club city playing at ER. Maybe all this infrastructure was put in place for a reason!

Surprised its not been tried before if I'm honest! ;-)

Hmm interesting idea. A future all Edinburgh club, playing at Easter Road you say?

I vote we call said club Hibernian.

[Stevie Reid]

How many were Oldco deducted ?

10 points.

[Caversham Green]

How many were Oldco deducted ?


10 points.

That was under the old rules. They were changed as a result of Rangers' demise.

http://www.bbc.co.uk/sport/0/football/18263819

[JimBHibees]

How many were Oldco deducted ?

10 but new rules in place.

[MacBean]

How many were Oldco deducted ?

10, but the latest rules came into effect at the end of last season so they missed the 1/3 of points impact. Null and void now anywya

[Treadstone]

How many were Oldco deducted ?

These rules were implemented after Oldco. They were deducted 10pts. SFA took their lead on this from England on the 10 point penalties. The 10 point deduction as has been seen in England is no deterrent whatsoever, in my view and not just because of the Yams but 25pts would be viewed differently. Currently in England you see teams choosing when they want to go in administration, its an absolute joke.

http://news.bbc.co.uk/sport1/hi/football/teams/l/leeds_united/6625751.stm

[Russell The Dug]

with driver leaving they will probably bring in another player who is a free agent

Can't. Was only loans.

[GreenCastle]

Thanks for the info. :aok:

[crewetollhibee]

skidd row?

If they were going to build Maisonettes, then I suppose it could be (Heart)ache Avenue. No ? I'll get my coat......

[HIBERNIAN-0762]

On what grounds?

Because Mr Cropley you know it and I know it they ain't getting shut down, their ability to squirm their way out of anything legal is legendary, I don't see the point in harping on about it, just lets wait and see what really happens instead of this boooooring speculation

:wink:


Absolutely delighted that our succulent lamb media clowns are staying schtum on recent developements. If they were commenting, it would only be pro HoMFC waffle, as it is in their long term interests to protect them and keep them as intact as long as possible. If, Hibernian 0762, you are bored with the thread, take a break and we'll call you when the real party starts. :greengrin

OK Jim, will do


Away and bile yer heid.

Make me!

[lord bunberry]

Because Mr Cropley you know it and I know it they ain't getting shut down, their ability to squirm their way out of anything legal is legendary, I don't see the point in harping on about it, just lets wait and see what really happens instead of this boooooring speculation

:wink:

That's the sort of logic hearts have been using for years. Eventually it was always going to catch up on them and it finally has

[PatHead]

07-62

For someone who according to the poll "doesn't care about them" you are really getting your knickers in a twist. If you don't care don't post or are you attention seeking? (Mummy not love you?)

BTW Maybe you should have chosen the other option of Hearts will survive.......................

[CropleyWasGod]

Because Mr Cropley you know it and I know it they ain't getting shut down, their ability to squirm their way out of anything legal is legendary, I don't see the point in harping on about it, just lets wait and see what really happens instead of this boooooring speculation

:wink:

I don't know that at all. If I did, then I would be in a different profession, and I certainly wouldn't be contributing to this thread. I doubt whether you "know" it either.

The speculation, backed up by (hopefully informed) analysis, is one of the fascinating aspects for me. However, I understand that some may find it boring. This thread is therefore not for them.

[Andy74]

Can't. Was only loans.

I think they can. Anyone under 10 k a week and under 21.

[greenlex]

skidd row?

Saville Row surely?

[Treadstone]

Having read this and watched the video in the link not a lot that is new here, although a suggestion of weeks to get real clarity in the situation.


http://sport.stv.tv/football/clubs/hearts/214751-hearts-takeover-could-be-accelerated-by-collapse-of-ukio-bankas/ (http://sport.stv.tv/football/clubs/hearts/214751-hearts-takeover-could-be-accelerated-by-collapse-of-ukio-bankas/)

[Hibrandenburg]

Because Mr Cropley you know it and I know it they ain't getting shut down, their ability to squirm their way out of anything legal is legendary, I don't see the point in harping on about it, just lets wait and see what really happens instead of this boooooring speculation

:wink:

Wrong thread! Try posting here Positive Slant (http://www.hmfckickback.co.uk/index.php?/topic/124613-ukio-bankas-insolvent/page__st__550)

Don't forget to change your login.

[Stevie Reid]

Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.

Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?

I don't think the stories are boring and to suggest closing the thread is ridiculous, but I do know that it can be difficult to see how they are struggling when they currently stand in a great position to win their second trophy within a year - never mind the luck in the individual rounds that got them there (and in our case, in the final itself), to end up finishing 5th in the SPL and play the team that finished 11th (just) in the SC Final, then be 10th in the SPL and still get to play a team (currently) beneath them in the table in the LC Final (and without playing any of the OF on the way) is truly unbelievable.

Things like that, and Billy Mackay's inexplicable miss in the semi, are down to luck that money cannot buy. I am far from an expert on the financial situation surrounding Hearts, but it would seem that they need far more money than any would ever be prepared to chuck away just to end up being a shadow of their former selves. Hopefully our patience will be rewarded.

[HIBERNIAN-0762]

07-62


BTW Maybe you should have chosen the other option of Hearts will survive.......................

Eh? you must be joking mate! nobody on here hates them more than me and every time I see a new post on here I pee a wee bit hoping it's the end, but it's not.

But having said that perhaps my total frustration at them getting away with murder backed by the news of the council may back them puts me into a Hulk mode.

A nice large glass of Chianti is the remedy

:wink:

[#FromTheCapital]

I think they can. Anyone under 10 k a week and under 21.

And also a free agent :agree:

[PatHead]

Eh? you must be joking mate! nobody on here hates them more than me and every time I see a new post on here I pee a wee bit hoping it's the end, but it's not.

But having said that perhaps my total frustration at them getting away with murder backed by the news of the council may back them puts me into a Hulk mode.

A nice large glass of Chianti is the remedy

:wink:

Don't think there is any news at all that the council will back them only speculation on here due to the council's history. I really think that no council in the world would try to pull a fast one with regard to their stadium. If the council can refuse to back Blindcraft they can walk away from anyone.

There are more votes in people who are not interested in football combined with those who do not support Hearts than there are Hearts supporters. At the end of the day that is all councillors are after. The councillors will either be supportive by making the "right" noises or just not say anything. Hearts only chance is if the council give David Murray planning permission, the council make it clear they would not give planning permission for alternative developments or if Hearts ground share.

The stadium will go to the highest bidder. I haven't seen any Hearts supporters who meet that criteria.

[lord bunberry]

Eh? you must be joking mate! nobody on here hates them more than me and every time I see a new post on here I pee a wee bit hoping it's the end, but it's not.

But having said that perhaps my total frustration at them getting away with murder backed by the news of the council may back them puts me into a Hulk mode.

A nice large glass of Chianti is the remedy

:wink:

Have you tried tenna lady

[MB62]

Eh? you must be joking mate! nobody on here hates them more than me and every time I see a new post on here I pee a wee bit hoping it's the end, but it's not.

But having said that perhaps my total frustration at them getting away with murder backed by the news of the council may back them puts me into a Hulk mode.

A nice large glass of Chianti is the remedy

:wink:

Aye, it's seems as though if you don't post absolutely every single post declaring how much you desire the Yams to go bust NOW, then you are classified as a Yam.
Just to cover myself, I hope the Yams go bust NOW :greengrin

(so who's going to be first then?) :wink:

[HUTCHYHIBBY]

Saville Row surely?

Sorry, Alberts Kidd Row! ;-)

[lapsedhibee]

Definitely 18 points. It's 1/3 of the previous season's points total, rounded up. They finished with 52 points last season.

I love that it's rounded up. Just supposing they last the season and finish one point behind Dundee, it'd be on a par with 1965 and 1986 for sheer mathematical satisfaction. They'll have a better goal difference than Dundee and if it'd been rounded to the nearest whole number they'd have been safe. :faf:

[RoYO!]

Hmm interesting idea. A future all Edinburgh club, playing at Easter Road you say?

I vote we call said club Hibernian.

Yeeeesss... Hibernian.... Has a nice ring to it


Don't think there is any news at all that the council will back them only speculation on here due to the council's history. I really think that no council in the world would try to pull a fast one with regard to their stadium. If the council can refuse to back Blindcraft they can walk away from anyone.

There are more votes in people who are not interested in football combined with those who do not support Hearts than there are Hearts supporters. At the end of the day that is all councillors are after. The councillors will either be supportive by making the "right" noises or just not say anything. Hearts only chance is if the council give David Murray planning permission, the council make it clear they would not give planning permission for alternative developments or if Hearts ground share.

The stadium will go to the highest bidder. I haven't seen any Hearts supporters who meet that criteria.

If(!) tynecastle is sold off to developers I'm sure they could make a sweet penny by selling space on the wrecking ball by the square inch. Just for a wee message. Devil smiley at the ready!

[PatHead]

Aye, it's seems as though if you don't post absolutely every single post declaring how much you desire the Yams to go bust NOW, then you are classified as a Yam.
Just to cover myself, I hope the Yams go bust NOW :greengrin

(so who's going to be first then?) :wink:

Didn't call him a yam, just told him he had voted incorrectly.

By the way I want them to go bust as well.

[copycat]

'Posted by Hagar the Horrible'
It would exceptionally difficult if they have a huge portfolio, they just need to start selling off shares in companies they own or call in debt, or stop buying stuff or lending for a while. it would only be the case if the borrowed money and invested in a dog with fleas, and lost their investment.

Are Hearts in Administration? no
hare we close to be self sufficient?...Yes
Have we paid our players and staff? Yes
Has anybody sold Tynecastle from under us? No
Has anybody seen a for sale sign? No
Has the Ukio Bankas administrators made any demands upon us? NO

If Vlad wanted us to be killed off he would have done it by now

Is this guy for real or really that thick,

Self sufficient - eh naw, not even close.
players and some staff have deferred their wages
Not yet but the liquidator will certainly be looking to sell all assets in order to pay creditors
bloody hell, the for sale sign has been out all season, has he missed all the talk about possible buyers?
not yet, they will though, £6.8m or so debt will need paid!!

[Hank Schrader]

Make me!

Don't be a tw@t then!! Stupid post to make. Don't read the bloody thread if it bothers you so much!

[Gerard]

'Posted by Hagar the Horrible'
It would exceptionally difficult if they have a huge portfolio, they just need to start selling off shares in companies they own or call in debt, or stop buying stuff or lending for a while. it would only be the case if the borrowed money and invested in a dog with fleas, and lost their investment.

Are Hearts in Administration? no
hare we close to be self sufficient?...Yes
Have we paid our players and staff? Yes
Has anybody sold Tynecastle from under us? No
Has anybody seen a for sale sign? No
Has the Ukio Bankas administrators made any demands upon us? NO

If Vlad wanted us to be killed off he would have done it by now

Is this guy for real or really that thick,

Self sufficient - eh naw, not even close.
players and some staff have deferred their wages
Not yet but the liquidator will certainly be looking to sell all assets in order to pay creditors
bloody hell, the for sale sign has been out all season, has he missed all the talk about possible buyers?
not yet, they will though, £6.8m or so debt will need paid!!

Our 'cousins' in Gorgie would appear to be in denial regarding their financial situation. When any person posts the dire status of their club it is ignored as being Hobos looking to cause trouble. If Hearts get out of this hole and keep their ground it will be a miracle. The likely situation will be that Tynecasle will be sold to pay the debts of Hearts. This would mean that Hearts or a new Hearts 2013 or any other name will need to find a ground to play at. Meadowbank is too small. The obvious choice is our ground but I suspect that this would not be acceptable to the Hearts fans.

[Lucius Apuleius]

Our 'cousins' in Gorgie would appear to be in denial regarding their financial situation. When any person posts the dire status of their club it is ignored as being Hobos looking to cause trouble. If Hearts get out of this hole and keep their ground it will be a miracle. The likely situation will be that Tynecasle will be sold to pay the debts of Hearts. This would mean that Hearts or a new Hearts 2013 or any other name will need to find a ground to play at. Meadowbank is too small. The obvious choice is our ground but I suspect that this would not be acceptable to the Hearts fans.

Or Hibs fans for that matter Gerard.

[Spike Mandela]

'Posted by Hagar the Horrible'
It would exceptionally difficult if they have a huge portfolio, they just need to start selling off shares in companies they own or call in debt, or stop buying stuff or lending for a while. it would only be the case if the borrowed money and invested in a dog with fleas, and lost their investment.

Are Hearts in Administration? no
hare we close to be self sufficient?...Yes
Have we paid our players and staff? Yes
Has anybody sold Tynecastle from under us? No
Has anybody seen a for sale sign? No
Has the Ukio Bankas administrators made any demands upon us? NO

If Vlad wanted us to be killed off he would have done it by now

Is this guy for real or really that thick,

Self sufficient - eh naw, not even close.
players and some staff have deferred their wages
Not yet but the liquidator will certainly be looking to sell all assets in order to pay creditors
bloody hell, the for sale sign has been out all season, has he missed all the talk about possible buyers?
not yet, they will though, £6.8m or so debt will need paid!!

It is just an attitude that football clubs carry on regardless without ever really having debt. Every positive scenario for Hearts, coming from over the road or on here centres on shedding or just plain ignoring oodles of debt.

An owner runs up massive debts, crashes, leaves and next owner comes in with promises of balancing books and sensible finance then bit by bit the debt starts building until the scenario happens all over again. Hibs are run cautiously and well but even our debt is rising slowly however it is manageable, for now.

Usually this leaves a trail of owners with wealth diminished, creditors shafted and players contracts ripped up. One day though, hopefully soon, a club is actually going to be made responsible for it's reckless debt and have to pay it back bit by bit no matter how long it takes. I wouldn't hold your breath though.

[magpie1892]

How many were Oldco deducted ?

10

[Hibby70]

Hmm interesting idea. A future all Edinburgh club, playing at Easter Road you say?

I vote we call said club Hibernian.
Someone just on the phone from Hades saying that he has a patent pending on that one.

[#FromTheCapital]

'Posted by Hagar the Horrible'
It would exceptionally difficult if they have a huge portfolio, they just need to start selling off shares in companies they own or call in debt, or stop buying stuff or lending for a while. it would only be the case if the borrowed money and invested in a dog with fleas, and lost their investment.

Are Hearts in Administration? no
hare we close to be self sufficient?...Yes
Have we paid our players and staff? Yes
Has anybody sold Tynecastle from under us? No
Has anybody seen a for sale sign? No
Has the Ukio Bankas administrators made any demands upon us? NO

If Vlad wanted us to be killed off he would have done it by now

Is this guy for real or really that thick,

Self sufficient - eh naw, not even close.
players and some staff have deferred their wages
Not yet but the liquidator will certainly be looking to sell all assets in order to pay creditors
bloody hell, the for sale sign has been out all season, has he missed all the talk about possible buyers?
not yet, they will though, £6.8m or so debt will need paid!!


All is barry....

Have to say it makes me cringe when they claim to be self sufficient, like it's some huge achievement that they deserve recognition for.
They are nowhere near self sufficient with that debt looming over them and even if they were then so ****ing what?

[One Day Soon]

10

Magpie, you're alive. How are you?

[steviehibsleith]

Because Mr Cropley you know it and I know it they ain't getting shut down, their ability to squirm their way out of anything legal is legendary, I don't see the point in harping on about it, just lets wait and see what really happens instead of this boooooring speculation

:wink:
The thread is developing nicely and since early days of madvlad being in financial trouble with his bank shareprice tumbling, basketball team going bust and now we are at the stage of Ukio Bankas in administration. There are so many debts out there all getting called in our inbred neighbours are in freefall and im loving the prolonged pain and new findings. Digging up though the council that they are in arrears was started from hibs.net so glory glory to this threadi love coming home from work to here the good news. :flag:

[Spike Mandela]

http://blogs.ft.com/beyond-brics/2013/02/20/lithuania-bank/?#axzz2LSjNpLnB

[Kaiser1962]

With all the debt for equity stuff, they must be into UBIG for £50-60m!

There were a few different deals done when Romanov bought Hearts and the process took a while. The Pieman sold his 19.6% shareholding to Romanov for £866,868.80 in September 2004 and he took control of Hearts with 29.9% in february 2005. Hearts debt at this time was around £18m.

As of October last year Hearts claimed to owe UBIG £22.4m and had completed two DFE swaps totalling £22m (£10m in Nov 2010 and £12m in July 2008). In recent years Hearts have shown two major "debt forgiveness" entries on their accounts totalling £16.7m (£8.8m in 2010-2011 which exceeded the £7.9m forgiven in £2009-2010). If you include what Romanov paid to acquire his shareholding there will not be a lot of change out of £48m, not including the £18m debt they began with.

I wonder why they are in financial trouble? :hmmm:

[EuanH78]

If a builder takes over the plot to build flats, will they seek suggestions for street names?

I suggest 'Saville Row' :greengrin


Saville Row surely?

:grr::rules: :greengrin

[Thecat23]

Just looked on sickback, there is a thread saying Vlad isn't all bad! Some absolute roasters on it. How deluded can you get? Here a couple from Shaun William Ryder...

"He's responsible for way more good than bad... I'm more surprised that it was difficult to appreciate the good for you. Glad you see it though. He's presided over what is thus far a golden era. His exit will define his tenure more than anything else though".

"Saved the club from dying a lingering death that was none of his making. As long as we do not suffer that fate in his tenure he will be massively in credit. The rest is nothing in comparison".

"I need to try and get my head around what Romanov has actually done (and I mean done - not what people hysterically speculate that he might do) that balances out his saving the club and stopping the sale of Tynie to Cala and winning two Scottish Cups...

See if its just sacking Burnley and slagging The Scottish Sun etc? You must be crackers".

Unreal!!!!!!

[Thecat23]

Does this twat not realise the bad is.. Not paying wages, syphiling money from the club, sacking a good manager, hiring sex offenders, keeping sex offenders employed, running up huge debts that could end the clubs exsistance!

I've spoke to some real idiots in my time who like Vlad but this boy is right up there.

[Hermit Crab]

Does this twat not realise the bad is.. Not paying wages, syphiling money from the club, sacking a good manager, hiring sex offenders, keeping sex offenders employed, running up huge debts that could end the clubs exsistance!

I've spoke to some real idiots in my time who like Vlad but this boy is right up there.

He doesn't even go to games. Always scrounging for tickets on that site.

[Thecat23]

He doesn't even go to games. Always scrounging for tickets on that site.

Haha really? That's unreal. There are a couple who clearly see Vlad was nothing but trouble and fair dos to them. But the ones who are still acting like he's some sort of god is actually worrying. I mean I walk the streets with these clowns!

[Hermit Crab]

Haha really? That's unreal. There are a couple who clearly see Vlad was nothing but trouble and fair dos to them. But the ones who are still acting like he's some sort of god is actually worrying. I mean I walk the streets with these clowns!

They are all chompers who need to come into the real world.

[truehibernian]

Haha really? That's unreal. There are a couple who clearly see Vlad was nothing but trouble and fair dos to them. But the ones who are still acting like he's some sort of god is actually worrying. I mean I walk the streets with these clowns!

Cat, I'm still f***ing reeling at the fact that the good citizens of Tollcross allowed a Hearts pub to sneak into the area and allow Gonzo Skacel to serve drinks in it and raise money for the brian cants.............when we ruled and roamed the streets around there many years ago there was a bye-law in place stating it was unlawful to wear maroon, the penalty for doing so being a kick in the sack via a pair of chunky mocs' :greengrin Hibs country, always has been always will be !

[Thecat23]

Cat, I'm still f***ing reeling at the fact that the good citizens of Tollcross allowed a Hearts pub to sneak into the area and allow Gonzo Skacel to serve drinks in it and raise money for the brian cants.............when we ruled and roamed the streets around there many years ago there was a bye-law in place stating it was unlawful to wear maroon, the penalty for doing so being a kick in the sack via a pair of chunky mocs' :greengrin Hibs country, always has been always will be !

Haha, pissing myself reading this.

[rcarter1]

To be fair to the Jambo that claims Vlad has done more good than bad..

They probably have won two cups at our expense. They got a 2nd place and an albeit very short lived European 'adventure' - which was about as convincing as their 'party' at Easter road this season.

They have had - some - good players that they would not have been able to sign, and they have retained Tynecastle - so far.

IF they get out of jail, and lose the debt (which no one knows yet will or will not happen), avoid relegation or liquidation, and start with a clean slate - then they will have benefited football wise. The embarrassing and often sordid goings on have not been to their credit, which if I were a fan would taint what was going on the pitch.

The fun part is that if they keep Tynecastle - good - its a dump and one day they will have to stump up the money to redo it. For me, the Hearts fans have been too proud to accept reality and chose to keep their crumbling little shed when a move away would have seen them on a much better footing. I hope they live to reap the rewards.

As long as they dont get another sugar daddy wiping all the debts and allowing them to 'BELIEVE' then Im fairly comfortable with whatever fate befalls them. I dont think they will be wiped from the face of the earth, and there are enough decent Jambos for that to be OK with me. Id hate to lose the derby anyway, and look forward to - hopefully - giving them a few sharp painful defeats in their rise from the rubble.

Regardless, it must be a s####y time to be a Jambo - not one Ive talked to has shown any enthusiasm for the League Cup final.

[Thecat23]

To be fair to the Jambo that claims Vlad has done more good than bad..

They probably have won two cups at our expense. They got a 2nd place and an albeit very short lived European 'adventure' - which was about as convincing as their 'party' at Easter road this season.

They have had - some - good players that they would not have been able to sign, and they have retained Tynecastle - so far.

IF they get out of jail, and lose the debt (which no one knows yet will or will not happen), avoid relegation or liquidation, and start with a clean slate - then they will have benefited football wise. The embarrassing and often sordid goings on have not been to their credit, which if I were a fan would taint what was going on the pitch.

The fun part is that if they keep Tynecastle - good - its a dump and one day they will have to stump up the money to redo it. For me, the Hearts fans have been too proud to accept reality and chose to keep their crumbling little shed when a move away would have seen them on a much better footing. I hope they live to reap the rewards.

As long as they dont get another sugar daddy wiping all the debts and allowing them to 'BELIEVE' then Im fairly comfortable with whatever fate befalls them. I dont think they will be wiped from the face of the earth, and there are enough decent Jambos for that to be OK with me. Id hate to lose the derby anyway, and look forward to - hopefully - giving them a few sharp painful defeats in their rise from the rubble.

Regardless, it must be a s####y time to be a Jambo - not one Ive talked to has shown any enthusiasm for the League Cup final.

If someone said to me, Hibs can win two Scottish cups and have the odd good player. But the cost of this may be the existence of your club I'd give them two words... **** off! I'd rather know my team will be here in years to come than live beyond the means that could destroy us like it has them. I honestly don't think he has done any good. If they won it with paying wages like the rest of the SPL then fair dos but he never. He basically cheated by over spending and not being able to afford it.

[Hibeesforever]

Haha, pissing myself reading this.

I used to roam there too.
Certainly don't blame Sack hill, if anything he went up in my estimation. If I was owed money from my employer, I would like to think I would have the cleverness to fleece the customers twice through a few bake and beer sales. Hearts class to not even realise, to this day, this hustle had happened to them.

[hibs0666]

If someone said to me, Hibs can win two Scottish cups and have the odd good player. But the cost of this may be the existence of your club I'd give them two words... **** off! I'd rather know my team will be here in years to come than live beyond the means that could destroy us like it has them. I honestly don't think he has done any good. If they won it with paying wages like the rest of the SPL then fair dos but he never. He basically cheated by over spending and not being able to afford it.

It's even worse I think - it's looking like Romanov has basically robbed some poor Lithuanian sods in order to indulge his sports teams and whatever else he's been up to. The club with no shame right enough.

[truehibernian]

I used to roam there too.
Certainly don't blame Sack hill, if anything he went up in my estimation. If I was owed money from my employer, I would like to think I would have the cleverness to fleece the customers twice through a few bake and beer sales. Hearts class to not even realise, to this day, this hustle had happened to them.

That's the sort of thing I'd expect from someone who drank in the IB to say :greengrin you sure you're a Hibs fan :greengrin (only joking)

[Pete]

He doesn't even go to games. Always scrounging for tickets on that site.

I'm willing to bet that I have more loyalty points than he does.

typical "head in the sand" attitude.

[rcarter1]

If someone said to me, Hibs can win two Scottish cups and have the odd good player. But the cost of this may be the existence of your club I'd give them two words... **** off! I'd rather know my team will be here in years to come than live beyond the means that could destroy us like it has them. I honestly don't think he has done any good. If they won it with paying wages like the rest of the SPL then fair dos but he never. He basically cheated by over spending and not being able to afford it.

But to be fair to their logic, they are arguing that they had all that debt and were going down the pan before he turned up. The Jambos reason that while he hasn't sorted their ills, he gave them a few glory years, while potentially leaving them in exactly the same mess they were before he came along.

I totally agree that this is a form of sporting cheating, but its rampant, and no one can stop a rich guy paying players wages. My hope is that as a club they pay up over the next few years by having a 'mud brown' period, of cruddy teams, a few spankings at our hands (and anyone else willing to dish it out), and a generally yo yo time of it - while working out how to stop their stadium from turning to dust. :lolyam:

[clerriehibs]

The merricks were as up in arms as any other club's fans over the sevco cheating. How any of them can have the gall to think it's actually right and proper and ok for them to have their debt wiped, for no punishment to happen, and that it hasn't been cheating if not criminal, is beyond comprehension.

[bighairyfaeleith]

It's even worse I think - it's looking like Romanov has basically robbed some poor Lithuanian sods in order to indulge his sports teams and whatever else he's been up to. The club with no shame right enough.

And that is the point in a nutshell, all this money they have borrowed to win these cups that they now hope to bump came from workers in Lithuania probably on a lot less per week than your average cardigan wearing jambo. The club is shameful from top to bottom and I am embarrassed that Scottish football allows them to continue.

[CropleyWasGod]

But to be fair to their logic, they are arguing that they had all that debt and were going down the pan before he turned up. The Jambos reason that while he hasn't sorted their ills, he gave them a few glory years, while potentially leaving them in exactly the same mess they were before he came along.

I totally agree that this is a form of sporting cheating, but its rampant, and no one can stop a rich guy paying players wages. My hope is that as a club they pay up over the next few years by having a 'mud brown' period, of cruddy teams, a few spankings at our hands (and anyone else willing to dish it out), and a generally yo yo time of it - while working out how to stop their stadium from turning to dust. :lolyam:

I disagree.

When VR took over, they were in a bad state. But they were saveable. Moving to Murrayfield would have done that, albeit against the wishes of their supporters.

Romanov has doubled their debt, at a time when the value of Tynie has halved.

[Kato]

But to be fair to their logic, they are arguing that they had all that debt and were going down the pan before he turned up.

So. They've been spending money they don't have and hard-balling small creditors since Mercer was around. They owe it to themselves and now it's time for them to show how they going to pay it back, Tynie being their only asset. (Correction the land Tynie is on, Tynecastle itself is a huge drain on their "resources".)


I disagree.

When VR took over, they were in a bad state. But they were saveable. Moving to Murrayfield would have done that, albeit against the wishes of their supporters.

Romanov has doubled their debt, at a time when the value of Tynie has halved.

Exactly Pie-Face had a plan to save the club. There is one bid on the table to save the club at this time and Romanov won't even let them see the clubs books. Which infers the debt of 22-24M is a tad more than that. Apart from them, FoH, all the talk surrounds the status of the real-estate. FoH seem pretty toothless compared to Robinson's plan of evacuation to Murrayfield.

[rcarter1]

I disagree.

When VR took over, they were in a bad state. But they were saveable. Moving to Murrayfield would have done that, albeit against the wishes of their supporters.

Romanov has doubled their debt, at a time when the value of Tynie has halved.

Fair enough, Romanov is in a hard place. Regardless of the debt, someone will have to choose to accept an offer from someone. When banks fold etc, some people get burned badly and others get let off the hook. Hearts may end up being one of those lucky ones. Im not saying its right - its a disgrace like the Sevco situation.

If it was JUST down to Romanov, he might be forced to take the hit and sell Hearts for a song, effectively allowing Hearts to get away with it (and taking the loss himself). The debt is ultimately just a bargaining tool for someone (who I dont know..), but debts get dropped and swept under carpets all the time in big financial collapses.

Things of course could go so badly for them that they have to start from absolute scratch. Nae luck to them if that happens and they brought it on themselves. If they get off the hook and start cutting their cloth, then they can look back on their 'golden' era all they want but will soon find the present somewhat less palatable.

Regardless - they wont be going on about 'We won the war. They no longer matter, we have moved to another plane of existence . yada yada.'

[Bostonhibby]

Just looked on sickback, there is a thread saying Vlad isn't all bad! Some absolute roasters on it. How deluded can you get? Here a couple from Shaun William Ryder...

"He's responsible for way more good than bad... I'm more surprised that it was difficult to appreciate the good for you. Glad you see it though. He's presided over what is thus far a golden era. His exit will define his tenure more than anything else though".

"Saved the club from dying a lingering death that was none of his making. As long as we do not suffer that fate in his tenure he will be massively in credit. The rest is nothing in comparison".

"I need to try and get my head around what Romanov has actually done (and I mean done - not what people hysterically speculate that he might do) that balances out his saving the club and stopping the sale of Tynie to Cala and winning two Scottish Cups...

See if its just sacking Burnley and slagging The Scottish Sun etc? You must be crackers".

Unreal!!!!!!

I wondered if all of the non footbaling employees of subsidiary companies (such as the unpaid smelting factory workers for example) feel the same way?

These complacent yam tossers who have the luxury of not actually depending upon the Dear Leader for their livelihoods are once removed from reality because someone that doesn't own their football club pays their wages or benefits, the approach highlighted above is no different to how they accepted Burleys' sacking, Rix, Thomson and will accept the lack of any actual share listing or certificate in return for their money and the ultimate shafting that is coming.

[Iggy Pope]

Cat, I'm still f***ing reeling at the fact that the good citizens of Tollcross allowed a Hearts pub to sneak into the area and allow Gonzo Skacel to serve drinks in it and raise money for the brian cants.............when we ruled and roamed the streets around there many years ago there was a bye-law in place stating it was unlawful to wear maroon, the penalty for doing so being a kick in the sack via a pair of chunky mocs' :greengrin Hibs country, always has been always will be !

Absolutely.
Schooled in Tollcross.
Brattisanni's! Asylum Records! TCR!

[NOLA]

Absolutely.
Schooled in Tollcross.
Brattisanni's! Asylum Records! TCR!

Quarterback shop, sold american football gear and skateboards :greengrin being at St Tams i would spend many a lunch hour there and in brattisanis on the motorbike semi simulator :top marks
didnt care much for the health food shop but used to dive in there for some cinammon sticks ;)

[grunt]

Article in The Times today (sorry no link) says that Romanov is to face charges in Lithuania over his mismanagement of Ukio Bankas.
The article makes the valid point that in their last published accounts, back in 2011, Hearts turnover was £7m and their expenditure was £13m. Romanov "forgave" about £8m of debt so they could report a "profit". It remains to be seen if he pulled the same stunt for the 2012 accounts, which have not been released yet. The Times article includes the comment, "to trade in profit it [Hearts] either had to double its income or halve its costs". I would guess that if Hearts auditors have not already signed off their audit report, recent events in Lithuania will be causing them to think hard about how to word their report.

[mad giraffe]

Article in The Times today (sorry no link) says that Romanov is to face charges in Lithuania over his mismanagement of Ukio Bankas.
The article makes the valid point that in their last published accounts, back in 2011, Hearts turnover was £7m and their expenditure was £13m. Romanov "forgave" about £8m of debt so they could report a "profit". It remains to be seen if he pulled the same stunt for the 2012 accounts, which have not been released yet. The Times article includes the comment, "to trade in profit it [Hearts] either had to double its income or halve its costs". I would guess that if Hearts auditors have not already signed off their audit report, recent events in Lithuania will be causing them to think hard about how to word their report.

Just read that. Good to see an article stating the obvious facts rather than the rubbish we see in evening news/Scotsman .

Vlads going to jail!!! Brilliant, lots of savilles in there for him to play with

[PapillonVert]

Article in The Times today (sorry no link) says that Romanov is to face charges in Lithuania over his mismanagement of Ukio Bankas.
The article makes the valid point that in their last published accounts, back in 2011, Hearts turnover was £7m and their expenditure was £13m. Romanov "forgave" about £8m of debt so they could report a "profit". It remains to be seen if he pulled the same stunt for the 2012 accounts, which have not been released yet. The Times article includes the comment, "to trade in profit it [Hearts] either had to double its income or halve its costs". I would guess that if Hearts auditors have not already signed off their audit report, recent events in Lithuania will be causing them to think hard about how to word their report.

Quote from said article:

"Yesterday a Bank of Lithuania official said that the inquiry had revealed a number of “risky” activities within Mr Romanov’s bank. It had inappropriately assessed credit risks; failed to make sure in all cases that borrowers could fulfil debt obligations; failed to draw up specific provisions for problem loans; applied unacceptable methods of portraying transactions in accounting; and violated prudential legal acts.

None of Hearts’ directors was in Edinburgh last night, and the club said that it was unable to comment."

Wonder why? :wink:

[Jim44]

Article in The Times today (sorry no link) says that Romanov is to face charges in Lithuania over his mismanagement of Ukio Bankas.
The article makes the valid point that in their last published accounts, back in 2011, Hearts turnover was £7m and their expenditure was £13m. Romanov "forgave" about £8m of debt so they could report a "profit". It remains to be seen if he pulled the same stunt for the 2012 accounts, which have not been released yet. The Times article includes the comment, "to trade in profit it [Hearts] either had to double its income or halve its costs". I would guess that if Hearts auditors have not already signed off their audit report, recent events in Lithuania will be causing them to think hard about how to word their report.


If proved to be true, would this criminal activity have a direct bearing on SPL rules on financial integrity and conduct of ownership etc. If it did, I suppose it could take yonks to establish by which time the Jambos will no doubt have performed a Houdiniesque escape from consequences and punishment.

[johnbc70]

Quarterback shop, sold american football gear and skateboards :greengrin being at St Tams i would spend many a lunch hour there and in brattisanis on the motorbike semi simulator :top marks
didnt care much for the health food shop but used to dive in there for some cinammon sticks ;)

Ha! Brings back memories, was at St Tams 87-93 and there was one Hearts fan in the whole school. Was a Hibs area that's for sure.