Share Transfers Agreed/Cooling off period

[AugustaHibs]

Hey lads, I know they've been close to it before, but is this the closest they've ever been to admin?

[21.05.2016]

Hey lads, I know they've been close to it before, but is this the closest they've ever been to admin?

Hearts as a club are not giving much away but by the looks of the statement they released on their site earlier in response to the allegations, it certainly would seem they are a lot more shady and far less outraged and angry than they were when similar rumours were spread by STV months ago when they even threatened legal action. It defiantly suggests that the rumours are not too far away from the mark but as usual hearts don't want to say too much and want their fans to keep believing the party line that everything is going just fine.

[JeMeSouviens]

Edinburgh Facts ‏@edinburghfacts 24m

Hibs have met with Council to map out open-top bus route. Date still to be confirmed. Could be this Friday if Hearts go into administration.

:greengrin

[KeithTheHibby]

Hearts as a club are not giving much away but by the looks of the statement they released on their site earlier in response to the allegations, it certainly would seem they are a lot more shady and far less outraged and angry than they were when similar rumours were spread by STV months ago when they even threatened legal action. It defiantly suggests that the rumours are not too far away from the mark but as usual hearts don't want to say too much and want their fans to keep believing the party line that everything is going just fine.

I think you are pretty much spot on. I cannot remember them responding to any other twitter rumours or newspaper articles without quotes.
The article in the EEN is very surprising as I doubt very much they would print anything without strong proof.

The statement on the yams website is typically what any club does when they are about to go tits up. Most recent was Dunfermline, denied several times then BOOM, administration.

I think some people are getting a bit ahead of themselves all the same, the yams will continue to exist and to be honest I would rather they were around in some shape or form. Relegation is still too good for those cants and their deluded muppet fans so a Sevco type scenario is my favoured option.:greengrin

http://www.youtube.com/watch?v=SKm5xQyD2vE


My fave.:greengrin:greengrin

[NOLA]

426 guests enjoying the read :giruy::hilarious

[fat freddy]

Just drove down Mcleod Street past the PBS and there is a Satelite TV van parked in their car park primed and ready for broadcast.

Is some news expected ? cake bake sales results ..... New World Cup Star signing .... :greengrin


david southern will be out soon to tell us that there's no american tanks in baghdad..

[CropleyWasGod]

I think you are pretty much spot on. I cannot remember them responding to any other twitter rumours or newspaper articles without quotes.
The article in the EEN is very surprising as I doubt very much they would print anything without strong proof.

The statement on the yams website is typically what any club does when they are about to go tits up. Most recent was Dunfermline, denied several times then BOOM, administration.

I think some people are getting a bit ahead of themselves all the same, the yams will continue to exist and to be honest I would rather they were around in some shape or form. Relegation is still too good for those cants and their deluded muppet fans so a Sevco type scenario is my favoured option.:greengrin

The EEN article is almost entirely lifted from the Sun article this morning. That includes the mistakes (17 points) and the (probably ill-informed) speculation about the debt.

[Spike Mandela]

“@scotsunsport: Hearts have told fans that the club is doing everything possible to trade normally as fresh concerns surfaced over their financial future.”

Statements coming out just don't sound as fim and defiant as previously. They have a hint of resignation about them.:cb

[Gus Fring]

The article in the EEN is very surprising as I doubt very much they would print anything without strong proof.



The EEN article is almost entirely lifted from the Sun article this morning. That includes the mistakes (17 points) and the (probably ill-informed) speculation about the debt.

You both know it was Barry Anderson who wrote the article right? If his sandwich went missing at lunchtime he wouldn't bother looking in to it, he would wait until someone else figured it out and then repeat whatever they said. He's a glorified blogger. If he told me it was wednesday tomorrow I'd still check my calendar to make sure.

[cocopops1875]

You both know it was Barry Anderson who wrote the article right? If his sandwich went missing at lunchtime he wouldn't bother looking in to it, he would wait until someone else figured it out and then repeat whatever they said. He's a glorified blogger. If he told me it was wednesday tomorrow I'd still check my calendar to make sure.
You're a fan of his work then :-)

[KeithTheHibby]

The EEN article is almost entirely lifted from the Sun article this morning. That includes the mistakes (17 points) and the (probably ill-informed) speculation about the debt.

Not doubting that for one minute however to put it on the front of the paper is pretty sensational don't you think?

Surely the EEN run the risk of being banned from Tynecastle in the same way STV were threatened before if it's a load of Jimmy White? I think BA has been very careful in what he has said in the past in order to keep on the right side of the heirarchy at the Wongadome, not so this time?

[JeMeSouviens]

The EEN article is almost entirely lifted from the Sun article this morning. That includes the mistakes (17 points) and the (probably ill-informed) speculation about the debt.

The EEN front page is a great big broken Hearts crest.

(Which is nice. :wink:)

[Off the bar]

“@scotsunsport: Hearts have told fans that the club is doing everything possible to trade normally as fresh concerns surfaced over their financial future.”

Statements coming out just don't sound as fim and defiant as previously. They have a hint of resignation about them.:cb

that's what struck me too, especially the bit in their statement that reads 'The club will continue to do everything within its power to trade normally' that implies that circumstances outwith their control are about to pull the plug. Certainly the fate of the club is not in the clubs hands. shame for them really.

[Green Blood]

http://i599.photobucket.com/albums/tt80/russkay/BJGe6NwCYAENecr_zps8dd23114.jpg (http://s599.photobucket.com/user/russkay/media/BJGe6NwCYAENecr_zps8dd23114.jpg.html)
The EEN front page is a great big broken Hearts crest.

(Which is nice. :wink:)

[CropleyWasGod]

Not doubting that for one minute however to put it on the front of the paper is pretty sensational don't you think?

Surely the EEN run the risk of being banned from Tynecastle in the same way STV were threatened before if it's a load of Jimmy White? I think BA has been very careful in what he has said in the past in order to keep on the right side of the heirarchy at the Wongadome, not so this time?

Actually, given that the debt seems to have been reduced from the previous accounts, Hearts are perhaps happy at being shown in such a good light. :greengrin

[Waxy]

The EEN front page is a great big broken Hearts crest.

(Which is nice. :wink:)
Fast show stylee?

[Thecat23]

Read this cracker...

Everything on this thread is reporting doom and gloom, and guesswork about our demise. However there is also the flip side which I don;t think has been considered yet, and that is it IS POSSIBLE we could come out of this smelling of roses. Debt free, untouched, and with new owners.

WTF???? Is he for real?

[Ozyhibby]

I think you are pretty much spot on. I cannot remember them responding to any other twitter rumours or newspaper articles without quotes.
The article in the EEN is very surprising as I doubt very much they would print anything without strong proof.

The statement on the yams website is typically what any club does when they are about to go tits up. Most recent was Dunfermline, denied several times then BOOM, administration.

I think some people are getting a bit ahead of themselves all the same, the yams will continue to exist and to be honest I would rather they were around in some shape or form. Relegation is still too good for those cants and their deluded muppet fans so a Sevco type scenario is my favoured option.:greengrin

Without the stadium.

[Hibercelona]

http://i599.photobucket.com/albums/tt80/russkay/BJGe6NwCYAENecr_zps8dd23114.jpg (http://s599.photobucket.com/user/russkay/media/BJGe6NwCYAENecr_zps8dd23114.jpg.html)

That's beautiful. :agree:

[Hibby Kay-Yay]

Actually, given that the debt seems to have been reduced from the previous accounts, Hearts are perhaps happy at being shown in such a good light. :greengrin

Once they produce the evidence of this reduction I will just file that chat as #allisbarry

:cb

[KdyHby]

Has jambogeddon arrived yet?

[Green Blood]

These Roasters still have there heads well buried in sh--e!!

http://i599.photobucket.com/albums/tt80/russkay/7905604-the-ostrich-has-buried-a-head-in-sand_zpsfbcc5de8.jpg (http://s599.photobucket.com/user/russkay/media/7905604-the-ostrich-has-buried-a-head-in-sand_zpsfbcc5de8.jpg.html)

[Ozyhibby]

Has jambogeddon arrived yet?

You're living through it. Just enjoy the moment.

[Future17]

http://i599.photobucket.com/albums/tt80/russkay/BJGe6NwCYAENecr_zps8dd23114.jpg (http://s599.photobucket.com/user/russkay/media/BJGe6NwCYAENecr_zps8dd23114.jpg.html)

Absolute nonsense. Total fallacy. Ridiculous hyperbole.....Castlebrae will never be a top school for sciences and will always be limited to the production of low grade crystal-meth and DIY molotov cocktails.

[NOLA]

i like how over on brokeback :kbacker: the evening news is a horrible sh*tey rag and that barry anderson is a horrible wee hibs troll :LOL:

[edinburghhibee]

STV live at slime castle anyone in the area that can give them a GIRFUY on the telly???

[Jim44]

i like how over on brokeback :kbacker: the evening news is a horrible sh*tey rag and that barry anderson is a horrible wee hibs troll :LOL:

One response to the lovely front page :

"Funny they didn't crack the Hibs badge when they got mauled by their rivals in front of a nation."

:-) :-) :-)

[.SeventyFive]

http://i599.photobucket.com/albums/tt80/russkay/BJGe6NwCYAENecr_zps8dd23114.jpg (http://s599.photobucket.com/user/russkay/media/BJGe6NwCYAENecr_zps8dd23114.jpg.html)


Maybe if they win those Boots vouchers that could save them? :greengrin

[Northernhibee]

Maybe if they win those Boots vouchers that could save them? :greengrin

FRONT PAGE: Anger as bowls centre becomes soft play centre
PAGE TWO: Delight as asbestos riddled football stadium becomes Tesco :flag:

[GreenCastle]

Seems a bit extreme having a front page splash and getting STV to turn up at Tynie if there is nothing going on :confused:

Still think they will squirm through till the end of the season - hopefully not though :greengrin

[Green Blood]

http://www.bbc.co.uk/sport/0/football/22358175

Don't Ya just love it!!!!

[Saorsa]

Seems a bit extreme having a front page splash and getting STV to turn up at Tynie if there is nothing going on :confused:

Still think they will squirm through till the end of the season - hopefully not though :greengrinPeople really need tae try and be mair optimistic :agree: :greengrin






http://i19.photobucket.com/albums/b168/jamie1971/smilies%202/banjoyam_zps6d6ab127.gif (http://s19.photobucket.com/user/jamie1971/media/smilies%202/banjoyam_zps6d6ab127.gif.html)

[God Petrie]

I love how they put the "trying to trade normally" in quotes.

[Benny Brazil]

The EEN front page is a great big broken Hearts crest.

(Which is nice. :wink:)

I knew my log in for brokeback would come in handy eventually - user name is Broken Hearts :greengrin

[itslegaltender]

on STV news just now.

[HIBERNIAN-0762]

According to the report by STV there it will be the summer before anything is done...:confused:

[Geo_1875]

http://www.bbc.co.uk/sport/0/football/22358175

Don't Ya just love it!!!!

"It should be noted that Hearts has not required or received additional funding from UBIG or Ukio Bankas in over a year"

Love how they make it sound like UBIG or Ukio had to pennies between them.

[Gus Fring]

According to the report by STV there it will be the summer before anything is done...:confused:

Sounded like an assumption, the logic being "Why do it before the end of the season"


That BBC article is conspicuous in its lack of a byline. Why has nobody put there name to it? Brian McLauchlin is the Hearts correspondent usually. He's the one rumoured to have all the info on this

[Saorsa]

"It should be noted that Hearts has not required or received additional funding from UBIG or Ukio Bankas in over a year"

Aye, because they've managed tae continue tae con the banjo players http://i19.photobucket.com/albums/b168/jamie1971/smilies%202/banjoyam_zps6d6ab127.gif (http://s19.photobucket.com/user/jamie1971/media/smilies%202/banjoyam_zps6d6ab127.gif.html) with non existent shares and other scams.

[itslegaltender]

Surely now the Jumbos do not have a fit and proper person owning the club (not that they ever did), SPL should be investigating.

[Phil D. Rolls]

According to the report by STV there it will be the summer before anything is done...:confused:

Loch Ness is too cold the rest of the year.

[Waxy]

I reckon if they have enough points to go into admin and still stay up they will do it.
If not then they'll go into admin early june,start with the big points deduction and get relegated next season.
Then get liquidated,lose tynie and start 2015 in the east of Scotland second division as tennants of Lothian thistle.

[Waxy]

then we can start our main rivalry against Spartans.
Hibernian v Spartans eh.
It's what Edinburgh football was for

[Northernhibee]

I reckon if they have enough points to go into admin and still stay up they will do it.
If not then they'll go into admin early june,start with the big points deduction and get relegated next season.
Then get liquidated,lose tynie and start 2015 in the east of Scotland second division as tennants of Lothian thistle.

They may not have a huge deal of choice in the matter as to when they go into admin; if enough people that they owe money demand payment then they'd be in real trouble, surely.

[steviehibsleith]

I am not a financial man but if Ukio Bank and the investment arm Ubig are both bust and in admin with the Lithuanin govt taking control then - surely Hearts are already bust and the SFA should be taking action now.
If i was involved in Dundee I would be raising this question and asking for immediate action because the way I see it they are trying to survive till the new season just taking a 10/12 point deduction.

[CropleyWasGod]

I am not a financial man but if Ukio Bank and the investment arm Ubig are both bust and in admin with the Lithuanin govt taking control then - surely Hearts are already bust and the SFA should be taking action now.
If i was involved in Dundee I would be raising this question and asking for immediate action because the way I see it they are trying to survive till the new season just taking a 10/12 point deduction.

UBIG aren't in administration . The.minute they are, Hearts will be penalised . it's nothing to do with the SFA though, it's an SPL penalty .

[Hibercelona]

When they say "trade normally". Do they mean trading normally? Or trading the Hearts way?

[neilmartinrocks]

9723

[Treadstone]

"It should be noted that Hearts has not required or received additional funding from UBIG or Ukio Bankas in over a year"


They make it sound like its been smooth sailing ever since.:talkh:


http://i599.photobucket.com/albums/tt80/russkay/BJGe6NwCYAENecr_zps8dd23114.jpg (http://s599.photobucket.com/user/russkay/media/BJGe6NwCYAENecr_zps8dd23114.jpg.html)

I also like the 'Remember 1990' halfway doon on the left hand side. Aye we do ya bassas thats why we are loving this.

[McHibby]

Hearts: "It should be noted that Hearts has not required or received additional funding from UBIG or Ukio Bankas in over a year".

Eh aye, but you did have to go cap in hand to your fans so you could pay a tax bill and see you to the end of season. Idiots.

[Famous Fiver]

I've said it before but just have to say it again.........................................Tick Tock.

[Green Blood]

I also like the 'Remember 1990' halfway doon on the left hand side. Aye we do ya bassas thats why we are loving this.

HoH, never forget that day at ER!:wink:

[Onion]

http://www.bbc.co.uk/sport/0/football/22358175

Don't Ya just love it!!!!

Trying to trade normally..... well anyone dealing with the Yams after that robust trading statement must be completely MAD !!

[mjhibby]

They may not have a huge deal of choice in the matter as to when they go into admin; if enough people that they owe money demand payment then they'd be in real trouble, surely.

Exactly.If they cant repay the taxman then hmrc will decide what happens.Who is in control of hearts anyway to decide if and when they face the grim reaper.Its probably in their best interest to appoint a scottish administrator as if it goes to a lithuainian one then they will likely want their monies worth.Still happy days watching them slowly crumble.

[Onion]

Hearts: "It should be noted that Hearts has not required or received additional funding from UBIG or Ukio Bankas in over a year".

Eh aye, but you did have to go cap in hand to your fans so you could pay a tax bill and see you to the end of season. Idiots.

Well that's all right then. Anything over £25M of financial doping would just be silly :greengrin

[lapsedhibee]

the banjo players http://i19.photobucket.com/albums/b168/jamie1971/smilies%202/banjoyam_zps6d6ab127.gif (http://s19.photobucket.com/user/jamie1971/media/smilies%202/banjoyam_zps6d6ab127.gif.html)

:thumbsup:

[SurferRosa]

Exactly.If they cant repay the taxman then hmrc will decide what happens.Who is in control of hearts anyway to decide if and when they face the grim reaper.Its probably in their best interest to appoint a scottish administrator as if it goes to a lithuainian one then they will likely want their monies worth.Still happy days watching them slowly crumble.

This is the bit i dont understand. How can they appoint an administrator? If the Liths decide to shut them down then surely any administration here couldn`t do a thing about it? How can a Scottish admin do its job properly when it wouldn`t be in their hands to decide anything?

Would they not just go straight into liqudation with a subsequent sale of Tynie to the highest bidder?

[Sir David Gray]

26th May-Hibs win the Scottish Cup
27th May-Hibs parade the Scottish Cup
28th May-Hearts go out of business

I'm sure that would trump any celebrations that they had in '98 when they won the cup and we were relegated. :pray:

That would be a "Carlsberg" week.

[Part/Time Supporter]

This is the bit i dont understand. How can they appoint an administrator? If the Liths decide to shut them down then surely any administration here couldn`t do a thing about it? How can a Scottish admin do its job properly when it wouldn`t be in their hands to decide anything?

Would they not just go straight into liqudation with a subsequent sale of Tynie to the highest bidder?

UBIG, Ukio and Hearts are separate companies with separate legal personalities.

[CropleyWasGod]

Exactly.If they cant repay the taxman then hmrc will decide what happens.Who is in control of hearts anyway to decide if and when they face the grim reaper.Its probably in their best interest to appoint a scottish administrator as if it goes to a lithuainian one then they will likely want their monies worth.Still happy days watching them slowly crumble.

It can't be a Lithuanian one. It has to be a UK one.


This is the bit i dont understand. How can they appoint an administrator? If the Liths decide to shut them down then surely any administration here couldn`t do a thing about it? How can a Scottish admin do its job properly when it wouldn`t be in their hands to decide anything?

Would they not just go straight into liqudation with a subsequent sale of Tynie to the highest bidder?

HMFC can appoint an administrator if they want. It may be in their interests to do so before someone else does, as their "own" might be less aggressive (see Duff and Phelps). As PTS says, they are a separate company from UBIG and UKIO, and therefore have their own scenario to work out. In practice, their administrator would have to work with those of the other companies, but they are still independent of each other.

On your last point, you may be right. However, my money is on a short administration, followed by liquidation.

[Caversham Green]

UBIG, Ukio and Hearts are separate companies with separate legal personalities.

Ross has a point though. Ukio aren't a group company so they don't have any relevance here, but UBIG are HoMFC's majority shareholders so the directors of HoMFC ultimately have to act in UBIG's best interest and it seems to me that administration of HoMFC is unlikely to fulfil that unless they think it would preserve the club as a going concern for sale post-administration. HoMFC emerging intact from administration looks unlikely and straight liquidation is likely to realise more for UBIG in any case.

Of course it's further complicated by the fact that all of UBIG's directors (which included the people who are still directors of HoMFC) have resigned and UBIG's assets have been frozen. Add to that Vlad apparently losing what little plot he had left and you have conditions that just can't continue for much longer. They'll be extremely lucky to last until the end of June.

[Mikey]

It's patently obvious that they're holding out until they can't be relegated before they go into administration. As per usual they're taking the piss by bending the rules to breaking point.

The SPL really needs to come up with an excuse to clobber them with a big points penalty, which will ensure they're relegated, or we're going to end up with another "Dundee" in the league next year. By that I mean a team that isn't prepared for the SPL and gets in a few weeks before the start of the new season. And in the process Dundee go down this season when they probably shouldn't have.

Dump them down a league and make them the SFL's problem to deal with.

A situation where a team calling itself Hearts and playing in maroon at Tynecastle starts next season in the SPL with a clean slate, and at worst -14 points, is nowhere near acceptable.

[SurferRosa]

UBIG, Ukio and Hearts are separate companies with separate legal personalities.


HMFC can appoint an administrator if they want. It may be in their interests to do so before someone else does, as their "own" might be less aggressive (see Duff and Phelps). As PTS says, they are a separate company from UBIG and UKIO, and therefore have their own scenario to work out. In practice, their administrator would have to work with those of the other companies, but they are still independent of each other.

On your last point, you may be right. However, my money is on a short administration, followed by liquidation.

OK. Thanks for that guys. :aok:

[hibeedonald]

If Hearts were going into admin would they be selling tickets at cut price for derbies? Think about it.

[hibs4thecup1988]

If Hearts were going into admin would they be selling tickets at cut price for derbies? Think about it.

Only way to more or less guarantee a sell out at our end?

[CropleyWasGod]

If Hearts were going into admin would they be selling tickets at cut price for derbies? Think about it.

I have thought about it.

Yes, they probably would. They need the cash for the sacks waiting at the back door.

Seriously, though, they need cash to maximise the chances of their surviving until 31st May. In turn, that would secure their SPL status for next season. 10,000 walk-ups at £15 a skull is better than 5,000 at £20.

[Caversham Green]

I have thought about it.

Yes, they probably would. They need the cash for the sacks waiting at the back door.

Seriously, though, they need cash to maximise the chances of their surviving until 31st May. In turn, that would secure their SPL status for next season. 10,000 walk-ups at £15 a skull is better than 5,000 at £20.

:agree: Plus, they announced these prices about three weeks ago - a lot has happened since then.

[JAY-ESS GREEN]

Hi everybody, been a long time follower of this and the sevco thread and have found them both informative and entertaining, and having been beaten to the punch on the occasions that I have had something to contribute I felt on seeing the cover of the EEN that I had to participate and celebrate the impending demise of our neighbours . Until now it seems to have been a series of false starts, but this seems to be the end game, and I sense the world will soon be a better place. The Mercer years, the arrogance, the gloating, the cheating , The pint puller , last May, all the hurt and anger over the years, soon to be replaced by a feeling of justice, which doesnt happen much in this money driven corrupt world which will make it all the sweeter. I would also like to thank those that go the extra yard on this forum and our resident financial and legal experts for their contributions.
Might have been posted already but caught bit of sportsound tonight, they were discussing manager of the year and one of them suggested John mcglinn. Almost laughed myself through a red light.

[hibeedonald]

I have thought about it.

Yes, they probably would. They need the cash for the sacks waiting at the back door.

Seriously, though, they need cash to maximise the chances of their surviving until 31st May. In turn, that would secure their SPL status for next season. 10,000 walk-ups at £15 a skull is better than 5,000 at £20.

The difference in attendance would be a couple of thousand max, I'm pretty sure they would lose money, also only a 5er to go to the game v St Mirren. If they do go into admin after reducing prices it would be pretty funny, I would be raging as a Hearts fan.

[1two]

Random thoughts.

Dundee have been in administration twice.

If the worst happens they will have benefitted from administration of others, Rangers and us, twice in two seasons.

They have beaten us three times by one goal, at one time of the 8 points they had 6 were from us, a points swing of 12.

They hired a thug as a manager and it has worked.

There is no God.





Oh the injustice!

[CropleyWasGod]

The difference in attendance would be a couple of thousand max, I'm pretty sure they would lose money, also only a 5er to go to the game v St Mirren. If they do go into admin after reducing prices it would be pretty funny, I would be raging as a Hearts fan.

In the great scheme of things, reducing or increasing prices will have very little effect on whether they go into administration. It may, however, have an effect on when it happens. In that respect, cash is king just now.

[Sergey]

In the great scheme of things, reducing or increasing prices will have very little effect on whether they go into administration. It may, however, have an effect on when it happens. In that respect, cash is king just now.

:agree: Given that they've no willing credit card service provider, it's their only option for generating spondoolies.

[Hibby Kay-Yay]

In the great scheme of things, reducing or increasing prices will have very little effect on whether they go into administration. It may, however, have an effect on when it happens. In that respect, cash is king just now.

But don't they need to sell out the PBS every home game until the end of the season just to survive??

:greengrin

[Gus Fring]

The difference in attendance would be a couple of thousand max, I'm pretty sure they would lose money, also only a 5er to go to the game v St Mirren. If they do go into admin after reducing prices it would be pretty funny, I would be raging as a Hearts fan.

You're applying a modicum of logic and common sense to Hearts business practices. Hearts don't do that. That's why they are shafted

[SteveHFC]

I love you man! :faf:

http://media.tumblr.com/45387103b617cabc5ef3fa448293b6e0/tumblr_inline_mizfxsesME1qz4rgp.gif:greengrin

[Green Blood]

Lots of talk on keekback about Solvent/Insolvent! The fools been sniffing it long enough now, surely they should be able to tell the difference!

[NOLA]

Lots of talk on keekback about Solvent/Insolvent! The fools been sniffing it long enough now, surely they should be able to tell the difference!
Its all very complex :)

[hibbypostie]

lifted from bareback Posted 29 April 2013 - 11:36 PM "Sunsports understands" http://www.hmfckickback.co.uk/public/style_emoticons/default/laugh.png

Story lifted straight off of twitter or HERE NAP

Rag. YEAH RIGHT CAUSE THERE IS ALWAY LOADS OF THREADS ABOUT ADMIN ON THERE :faf:

[hibbypostie]

But this is the best quote from brokeback yet............"Call me cynical - but we're trying to sell season tickets right now - a tactical leak from Tynecastle - a bit of panic and we'll be rushing to buy ST's next week.........just a thought - more fool the sun for falling for it !" They are also claiming this story is just to gloss over the trouble at the old firm U17s game what a bunch o phannies :faf:

[God Petrie]

The lack of any action or concern from the hearts support is becoming bizarre. Truly an awful support that deserves what they get.

[Andy74]

Press all still repeating the line this morning that yams are self sufficient. Sure, the begging to fans and having to fund a new demand from HMRC is all just ideal. What appended to the warning that they were still hundreds of thousands short of their target?

[greenpaper55]

My calendar must be wrong , were that lot not due their shares by the end of April ?, not one of the so called newspapers even bother to question the fact that thousands might have been duped.

[DaveF]

The lack of any action or concern from the hearts support is becoming bizarre. Truly an awful support that deserves what they get.

They can't pay off a 25 million debt (or whatever it is now) so what's the point in being concerned?

Nothing they can do but sit back and see what happens. If they get through the next couple of days - 1st installment to HMRC due, and the Lith Govt apparently lining up to kill off UKIO and perhaps UBIG - then really, what is there to worry about?

[marti1875]

My calendar must be wrong , were that lot not due their shares by the end of April ?, not one of the so called newspapers even bother to question the fact that thousands might have been duped.

:agree: Exactly, it really is quite bizarre just why/how the MSM just do not mention anything at all about this. Also the fact that they are certainly nowhere near self sufficient. We can all see it as it is staring at us right in the face so why don't they? do they have some sort of cosy wee agreement not to do any real, proper in depth reporting on them or what? very strange indeed.

[Curly1875]

Yam at my school coming out with some brilliant crap today:

'They can take Tynecastle off us, we don't care at all'

'We'll still always be bigger than you'

Enjoy admin ya fuds!

[Hibrandenburg]

So has this been more wind and pish? Getting worried that my Champagne might end up getting corked.

[Geo_1875]

Yam at my school coming out with some brilliant crap today:

'They can take Tynecastle off us, we don't care at all'

'We'll still always be bigger than you'

Enjoy admin ya fuds!

We had a jannie at our school like that.

[green glory]

We had a jannie at our school like that.

Maybe you misheard. Maybe he was a fanny.

[Makaveli]

26th May-Hibs win the Scottish Cup
27th May-Hibs parade the Scottish Cup
28th May-Hearts go out of business

I'm sure that would trump any celebrations that they had in '98 when they won the cup and we were relegated. :pray:

That would be a "Carlsberg" week.

I was at an outdoor birthday party the day they had their parade in '98. We'd just went down. I was 10.

We could hear the noise of their parade and a woman at the party, who I only knew from sitting near at ER, could see that I was fighting back tears.

She came over and put a hand on my shoulder. I still remember her exact words: "Dinnae worry, son. What comes around f***ing goes around."

Those words stayed in the back of my mind through all the pish I took at school for being a Hibs fan in Penicuik... especially with their early-Romanov Era bravado. I'll admit I started to have my doubts last May but now, by the day, i hear her words ring truer.

15 years on, Hearts are dying. Justice lives.

[HibbyAndy]

I was at an outdoor birthday party the day they had their parade in '98. We'd just went down. I was 10.

We could hear the noise of their parade and a woman at the party, who I only knew from sitting near at ER, could see that I was fighting back tears.

She came over and put a hand on my shoulder. I still remember her exact words: "Dinnae worry, son. What comes around f***ing goes around."

Those words stayed in the back of my mind through all the pish I took at school for being a Hibs fan in Penicuik... especially with their early-Romanov Era bravado. I'll admit I started to have my doubts last May but now, by the day, i hear her words ring truer.

15 years on, Hearts are dying. Justice lives.

Love it mate.

Plenty hibbys in Penicuik now by the way.

Every dog has there day.And its soon.

GGTTH.

[#FromTheCapital]

So has this been more wind and pish? Getting worried that my Champagne might end up getting corked.

I'm not completely convinced about it myself, although h****s official statement yesterday was quite reassuring as they didn't even try to deny the rumours. I think we're just going to have to be patient. Hopefully something happens tomorrow with this meeting in lithuania

[Caversham Green]

So has this been more wind and pish? Getting worried that my Champagne might end up getting corked.

It's certainly not all wind and pish - their problems are very real, very serious and in the main outwith their control. It's too early to say whether administration will happen this week or at all - I can't see how they could get through an administration and still be HoMFC at the other end - but something has to happen (relatively) soon and it won't be pretty for them. I maintain that they'll be lucky to see the end of this month.

AFAIC it's Champagne for the 26th and an Islay malt for the silence of the Yams (or maybe a nice Chianti?). Don't know which I'll be cracking open first.

[Saorsa]

It's certainly not all wind and pish - their problems are very real, very serious and in the main outwith their control. It's too early to say whether administration will happen this week or at all - I can't see how they could get through an administration and still be HoMFC at the other end - but something has to happen (relatively) soon and it won't be pretty for them. I maintain that they'll be lucky to see the end of this month. :pray: :partyhibb:flag:


AFAIC it's Champagne for the 26th and an Islay malt for the silence of the Yams (or maybe a nice Chianti?). Don't know which I'll be cracking open first.:thumbsup: 'mon the Islay Malt

[Aldo]

:pray: :partyhibb:flag:

:thumbsup: 'mon the Islay Malt

Potential there for one of the biggest piss ups for the Hibernian family!! ;-)

[Pray4Marc]

They all have their head in the sand, more interested in slating the press than accepting the problems they face. Hopefully they go into admin/liquidation and get this points deduction this week. My favourite part about this is we have Dundee last game of the season. :agree:

[Saorsa]

Potential there for one of the biggest piss ups for the Hibernian family!! ;-)Aye mate, party at your bit, lol :greengrin:thumbsup:

[Springbank]

I've two minor contributions to make at this stage in the yam demise:1) I'm going for a Campbeltown Malt (check my name for details) though Islay is a fine source of the water of life; And2) we can't risk injuries for the final. Versus Dundee we need to put kujabi in the shop window and play the u16s for experience :)

[Aldo]

Aye mate, party at your bit, lol :greengrin:thumbsup:

Party in Glasgow then the train then Embra. I will be bringing the beers to G's that Sunday morning to start off the party. No asked him yet...

[Pat 0-7]

come on, come on............

http://i300.photobucket.com/albums/nn34/mallshouse/Smileys/impatient.gif

[green glory]

I've two minor contributions to make at this stage in the yam demise:1) I'm going for a Campbeltown Malt (check my name for details) though Islay is a fine source of the water of life; And2) we can't risk injuries for the final. Versus Dundee we need to put kujabi in the shop window and play the u16s for experience :)

I'm planning on opening a nice bottle of Talisker on Jambogeddon day. Yum.

[Saorsa]

Party in Glasgow then the train then Embra. I will be bringing the beers to G's that Sunday morning to start off the party. No asked him yet...lol.



Can you empty your PM's a bit :wink:

[Aldo]

lol.

Can you empty your PM's a bit :wink:

Done dude.

[Craig_in_Prague]

Romanov ideally to end up in jail & rooming it with a big handy russian who aint 'had it' for a long time.
Mercer deid, Wet Farts nearly deid,
Hibs 90mins away from finally lifting the SC. Young talent coming through and future looking bright.

Too many things to celebrate. I heard Rudi likes pouring pints, I'm going round his for a party :-)

[MrSmith]

Hopefully, the SFA/SPL will be investigating this as we speak! Fit owner? Naw! Finances in order? Erm ... naw! Club and ground fit for purpose? Eh? NAW NAW! Administration looming? Well yes obviously!!

TIME to act to you bunch of incompetent blazer wearing parasites!

SFA/SPL investigations competency checklist:

1. Is something happening?
2. Can we ignore it?
3. Does it affect us?
4. Is it Rangers or Celtic
5. Can we ignore it?
6. If we ignore it, will we get into trouble later?
7. Can we pin it on someone else?
8. can we ignore it?

in the event of confusion, resort to question 2, 5 or 8!

[CropleyWasGod]

Hopefully, the SFA/SPL will be investigating this as we speak! Fit owner? Naw! Finances in order? Erm ... naw! Club and ground fit for purpose? Eh? NAW NAW! Administration looming? Well yes obviously!!

TIME to act to you bunch of incompetent blazer wearing parasites!

To be fair, there's not a lot for the SPL to go on. Administration hasn't happened yet.

As for the SFA, the only thing they can act on is the (apparent) non-submission of the 2012 accounts. The "fit and proper owner" charge wouldn't stick until "the owner" (presumably you mean Romanov, even although he's not) has actually been convicted of something.

[jdships]

Putting everything else aside surely the greatest factor is the administration argument is going to be CASH FLOW
Given the bank(s) are in trouble there will be no revenue from them and from next week until late July there will be no income through the gate receipts

:rolleyes::greengrin

[Broken Gnome]

It's certainly not all wind and pish - their problems are very real, very serious and in the main outwith their control. It's too early to say whether administration will happen this week or at all - I can't see how they could get through an administration and still be HoMFC at the other end - but something has to happen (relatively) soon and it won't be pretty for them. I maintain that they'll be lucky to see the end of this month.

AFAIC it's Champagne for the 26th and an Islay malt for the silence of the Yams (or maybe a nice Chianti?). Don't know which I'll be cracking open first.

So when an auditor like Neil Patey (today's Evening News) sees no merit in administration for any party, what is he overlooking? If anything?

[Ross4356]

Are we expecting a statement to come out today saying they have paid the first 500k installment to HMRC?

[Gus Fring]

So when an auditor like Neil Patey (today's Evening News) sees no merit in administration for any party, what is he overlooking? If anything?

For a start he's overlooking the fact that nobody can buy Hearts because Ubigs assets are still frozen. Nobody at the Evening News seems to have a basic grasp of this. Someone could offer £100m for Hearts, the shares can't be transferred.

[Caversham Green]

So when an auditor like Neil Patey (today's Evening News) sees no merit in administration for any party, what is he overlooking? If anything?

I agree with him - up to a point. I think the only party that would benefit from a successful administration - and it would be in the long term - would be the club itself. The parties that would cause administration to happen would be the owners 'voluntarily'; the administrator of Ukio and HMRC/other creditors. A CVA would almost certainly be rejected because secured creditors don't have a vote and the unsecured creditors would get nothing out of it.

In the case of the owners and Ukio, their debts are secured on the clubs assets and because the debts are greater than the assets all they would be doing is paying an administrator's fees to get some of their money back - they'd be cheaper going straight to liquidation. HMRC are probably the largest unsecured debt as as we know from the Sevco debacle their policy is to oppose CVAs in these circumstances.

The only possible motives for administration might be protection of the directors or to effect a sale to new owners - but the potential new owners seem to be too busy agreeing amongst themselves to do anything relevant.

[green glory]

He's all over the place with his understanding of the situation.

Like Bajillions says, the shares are frozen.

Also, UBIG owns the shares, but they're not in administration; UKIO Bankas are.

I suspect he has been misquoted or misunderstood by Anderson, because I wouldn't expect Patey to get such basic facts wrong.

His understanding of the RFC/Sevco comedy has been equally poor.

[CropleyWasGod]

His understanding of the RFC/Sevco comedy has been equally poor.

I was going to say the same, but I couldn't remember if it was the same guy.

I deleted my earlier post, because I have re-read the article.

He doesn't actually say that there is no merit in administration. However, if that's what he is implying, then I would agree with him, for the same reasons Cav says.

[Green Blood]

I was going to say the same, but I couldn't remember if it was the same guy.

I deleted my earlier post, because I have re-read the article.

He doesn't actually say that there is no merit in administration. However, if that's what he is implying, then I would agree with him, for the same reasons Cav says.

Having read the article a couple of times an obvious point came to me but not the writer! As expected it will take the administrator time to get to the bottom of all the issues and this will take time, however whilst Hearts may not be one of his priorities I would have thought that it was an obvious quick win as they are so visible amongst all the murky goings on.

Why put it off till later when he can start the ball rolling with pursuing them as their position is quite clear whereas the remainder of the Ukio situation will be murky and not so clear cut

[Caversham Green]

I agree with him - up to a point. I think the only party that would benefit from a successful administration - and it would be in the long term - would be the club itself. The parties that would cause administration to happen would be the owners 'voluntarily'; the administrator of Ukio and HMRC/other creditors. A CVA would almost certainly be rejected because secured creditors don't have a vote and the unsecured creditors would get nothing out of it.

In the case of the owners and Ukio, their debts are secured on the clubs assets and because the debts are greater than the assets all they would be doing is paying an administrator's fees to get some of their money back - they'd be cheaper going straight to liquidation. HMRC are probably the largest unsecured debt as as we know from the Sevco debacle their policy is to oppose CVAs in these circumstances.

The only possible motives for administration might be protection of the directors or to effect a sale to new owners - but the potential new owners seem to be too busy agreeing amongst themselves to do anything relevant.

Just to add an afterthought to this:

A third possibility for administration would be HMRC if they don't get the £500k that's due sometime this month (or anything else that's due for that matter). It wouldn't benefit them as they would be unlikely to get anything out of it, but they might go for it to invite interested parties to contribute if they want to keep the club alive or to make good the threats that these repayment schemes invariably carry.

PS I haven't seen the article - anyone got a link?

[SteveHFC]

http://oi42.tinypic.com/30wujx3.jpg

[Sanger]

Administrators of UB could liquidate HMFC (they have the ground and Romanov’s shares as security against loans to UB and Romanov (UBIG)), sell the stadium to property developers and the club to FOH who would then seek a new ground and re-admission to the league a la Rangers. Certainly, no consortium has the money to buy Tynecastle close to its market value or pay off HMRC. The administrators are trying to fill a $463 million whole in UB and will be not be benevolent. Going into administration I don’t think would halt this process and would be only of use if HMRC did not get paid their next installment and issued a winding up order. This is of course a possible short-term outcome which is why HMFC may be looking to appoint administrators. I think all routes will lead to liquidation. Which is what I predicted for Rangers in February of last year.

[DaveF]

Administrators of UB could liquidate HMFC (they have the ground and Romanov’s shares as security against loans to UB and Romanov (UBIG)), sell the stadium to property developers and the club to FOH who would then seek a new ground and re-admission to the league a la Rangers. Certainly, no consortium has the money to buy Tynecastle close to its market value or pay off HMRC. The administrators are trying to fill a $463 million whole in UB and will be not be benevolent. Going into administration I don’t think would halt this process and would be only of use if HMRC did not get paid their next installment and issued a winding up order. This is of course a possible short-term outcome which is why HMFC may be looking to appoint administrators. I think all routes will lead to liquidation. Which is what I predicted for Rangers in February of last year.

Like :greengrin

Here's hoping your mystic meg predictions continue to be spot on.

[CropleyWasGod]

Just to add an afterthought to this:

A third possibility for administration would be HMRC if they don't get the £500k that's due sometime this month (or anything else that's due for that matter). It wouldn't benefit them as they would be unlikely to get anything out of it, but they might go for it to invite interested parties to contribute if they want to keep the club alive or to make good the threats that these repayment schemes invariably carry.

PS I haven't seen the article - anyone got a link?

http://www.scotsman.com/edinburgh-evening-news/latest-news/time-right-for-potential-hearts-bidders-to-act-1-2913863

[Hibercelona]

http://www.scotsman.com/edinburgh-evening-news/latest-news/time-right-for-potential-hearts-bidders-to-act-1-2913863

I knew it would finally happen.

Rolland has resorted to taking acid.

[PatHead]

To be fair, there's not a lot for the SPL to go on. Administration hasn't happened yet.

As for the SFA, the only thing they can act on is the (apparent) non-submission of the 2012 accounts. The "fit and proper owner" charge wouldn't stick until "the owner" (presumably you mean Romanov, even although he's not) has actually been convicted of something.

Would going around telling all and sundry that you are bankrupt, have to dive taxis for a living and your business assets not be enough to question whether someone is fit and proper? I would think fit and proper criteria does not simply mean you don't have to be criminal.

[Platinum Scotty]

Would going around telling all and sundry that you are bankrupt, have to dive taxis for a living and your business assets not be enough to question whether someone is fit and proper? I would think fit and proper criteria does not simply mean you don't have to be criminal.

Under SFA stipulations for Official Return, a fit and proper person ''should not be bankrupt or made any arrangement of composition with his creditors generally'' ............sounds to me, as a non finance person, that Vlad surely ticks this box for being investigated???

[21.05.2016]

Its about ****ing time the appropriate authorities grew a back bone and actually took some serious action against these clowns. For far far too long they have gotten away with murder. The club is a complete joke from top to bottom, it is (along with their big brother huns from govan) the most corrupt and dodgy football club in Britain. Where is the punishment for financial cheating?! Every other club has to cut there cloth, play by the rules, and live within their means yet these clowns splashed out millions they don't have to buy players they could no where near afford in order to get ahead. Absolutely no justice in it at all and its about time that shambles of a club was made to severely pay for it yet every time, the authorities involved let them squirm there way out of things.

[PatHead]

Think Hearts are now reaching Black Knight stage in total denial. http://www.youtube.com/watch?v=Jvqhk7YDH9U

[CropleyWasGod]

Under SFA stipulations for Official Return, a fit and proper person ''should not be bankrupt or made any arrangement of composition with his creditors generally'' ............sounds to me, as a non finance person, that Vlad surely ticks this box for being investigated???

Is he actually bankrupt, though, or just telling people that he is? He wouldn't be the first person to claim that they are, when in fact they're not.

[Platinum Scotty]

Is he actually bankrupt, though, or just telling people that he is? He wouldn't be the first person to claim that they are, when in fact they're not.

I assumed it was more in line with the second part, given his companies precarious position at home, but maybe i am just being an optimist here!!

[Hibby Kay-Yay]

Would going around telling all and sundry that you are bankrupt, have to dive taxis for a living and your business assets not be enough to question whether someone is fit and proper? I would think fit and proper criteria does not simply mean you don't have to be criminal.

The thing is though, Romanov is not the owner

[CropleyWasGod]

I assumed it was more in line with the second part, given his companies precarious position at home, but maybe i am just being an optimist here!!

This is me being pedantic, I know.... but I am putting myself in the SFA's chair (Pontius Pilates to a man sometimes :greengrin). It's not HIS creditors that are coming to an arrangement, but UKIO's. After tomorrow, it may also be UBIG's, but even then that is not HIM.

The counter argument to that is that, again, it's not HIM that own the shares in HMFC, but UBIG. After tomorrow, one might argue that UBIG are not a fit and proper owner.

Let me go and wash my hands......

[Sanger]

Like :greengrin

Here's hoping your mystic meg predictions continue to be spot on.

Although many have likened my predictions to magic I am a financial analyst who predicted the credit crunch recession, RBS and HBOs going bankrupt and the bail outs of Ireland, Greece, Portugal and Spain

[Mikey]

Although many have likened my predictions to magic I am a financial analyst who predicted the credit crunch recession, RBS and HBOs going bankrupt and the bail outs of Ireland, Greece, Portugal and Spain

Are you any good at predicting cup finals? :greengrin

[shezer]

Why were Rangers not stripped of their titles they won while cheating?Are Hearts in the same boat or could they be stripped of the Cup title?

[Lucius Apuleius]

Although many have likened my predictions to magic I am a financial analyst who predicted the credit crunch recession, RBS and HBOs going bankrupt and the bail outs of Ireland, Greece, Portugal and Spain

:aok: Any predictions where I can stick a few bob that will last my retirement before I get my pensions coming in :greengrin

[PatHead]

Although many have likened my predictions to magic I am a financial analyst who predicted the credit crunch recession, RBS and HBOs going bankrupt and the bail outs of Ireland, Greece, Portugal and Spain

.......................................and I put all my money in Cyprus to avoid those bad countries you mentioned!:boo hoo:

[Platinum Scotty]

This is me being pedantic, I know.... but I am putting myself in the SFA's chair (Pontius Pilates to a man sometimes :greengrin). It's not HIS creditors that are coming to an arrangement, but UKIO's. After tomorrow, it may also be UBIG's, but even then that is not HIM.

The counter argument to that is that, again, it's not HIM that own the shares in HMFC, but UBIG. After tomorrow, one might argue that UBIG are not a fit and proper owner.

Let me go and wash my hands......

CWG - thanks for the clarity on this, as i said i am not one who begines to understand all this, so my optimism comes out now and again - will sit back and hope for some damn fine news before too long on their long awaited demise!

[Gus Fring]

Let's clear a few things up as it seems some people don't actually bother reading the thread and just skip to the end hoping to see a post saying "Hearts are deed"

1) Romanov doesn't own Hearts. UBIG does, Romanov is believed to be the majority shareholder in UBIG.

2) Hearts cannot be sold to anyone at this stage as all of UBIG's assets have been frozen. That means no transferring of anything to anyone else.

3) UBIG is not in administration

4) Ukio Bankas is in administration

5) Ukio Bankas holds the security over Tynecastle. This is seperate from UBIG and Hearts.

6) If Hearts or UBIG (not Ukio Bankas) enter administration on or before the 31st of May then Hearts will be deducted 18 points. If it happens after the 31st of May hearts will be deducted 1/3 of whatever they finish this season on.

7) There is no evidence that they Hearts are currently "insolvent"

8) There is nothing for the SPL or the SFA to currently act on.

9) It's unlikely they'll "die" quickly. It will happen, it'll just take time.

10) Hearts are not "too big a team to die".

11) Declaring "1-5, never let them forget" will have no affect on saving them, no matter how often they repeat it.

[jgl07]

Let's clear a few things up as it seems some people don't actually bother reading the thread and just skip to the end hoping to see a post saying "Hearts are deed"

1) Romanov doesn't own Hearts. UBIG does, Romanov is believed to be the majority shareholder in UBIG.

2) Hearts cannot be sold to anyone at this stage as all of UBIG's assets have been frozen. That means no transferring of anything to anyone else.

3) UBIG is not in administration

4) Ukio Bankas is in administration

5) Ukio Bankas holds the security over Tynecastle. This is seperate from UBIG and Hearts.

6) If Hearts or UBIG (not Ukio Bankas) enter administration on or before the 31st of May then Hearts will be deducted 18 points. If it happens after the 31st of May hearts will be deducted 1/3 of whatever they finish this season on.

7) There is no evidence that they Hearts are currently "insolvent"

8) There is nothing for the SPL or the SFA to currently act on.

9) It's unlikely they'll "die" quickly. It will happen, it'll just take time.

10) Hearts are not "too big a team to die".

11) Declaring "1-5, never let them forget" will have no affect on saving them, no matter how often they repeat it.

Hearts are certainly technically insolvent and have been for some years. Only the promise of continued financial support from UBIG enabled the accounts to be signed off by the auditors for the past three or four years. That support is not going to come from UBIG now as all activities are frozen even if they have any cash which they don't.

QED Hearts are insolvent.

[Platinum Scotty]

Guessing that post #11952 was aimed at people such as myself....

for Clarity i have to confess that due to a full time job and a partial social life i have to apologise and admit that i havent managed to read all near 12,000 posts thus far..............i appreciate the difference between the multiple layers of companies and their various financial positions, my simple post was purely to underpin that IF the chap who the various media outlets refer to as the owner, and i appreciate now he seemingly isnt, was in as bad a position that he appears to be in then surely he would have been one that would be worth a second look by the SFA....

I will now go back to the reading, and appreciating the knowledge shared by those with the financial accumen and understanding

[PatHead]

Let's clear a few things up as it seems some people don't actually bother reading the thread and just skip to the end hoping to see a post saying "Hearts are deed"

1) Romanov doesn't own Hearts. UBIG does, Romanov is believed to be the majority shareholder in UBIG.

2) Hearts cannot be sold to anyone at this stage as all of UBIG's assets have been frozen. That means no transferring of anything to anyone else.

3) UBIG is not in administration

4) Ukio Bankas is in administration

5) Ukio Bankas holds the security over Tynecastle. This is seperate from UBIG and Hearts.

6) If Hearts or UBIG (not Ukio Bankas) enter administration on or before the 31st of May then Hearts will be deducted 18 points. If it happens after the 31st of May hearts will be deducted 1/3 of whatever they finish this season on.

7) There is no evidence that they Hearts are currently "insolvent"

8) There is nothing for the SPL or the SFA to currently act on.

9) It's unlikely they'll "die" quickly. It will happen, it'll just take time.

10) Hearts are not "too big a team to die".

11) Declaring "1-5, never let them forget" will have no affect on saving them, no matter how often they repeat it.

What about non submission of accounts which were due by 31 March?

[Gus Fring]

Guessing that post #11952 was aimed at people such as myself....

for Clarity i have to confess that due to a full time job and a partial social life i have to apologise and admit that i havent managed to read all near 12,000 posts thus far..............i appreciate the difference between the multiple layers of companies and their various financial positions, my simple post was purely to underpin that IF the chap who the various media outlets refer to as the owner, and i appreciate now he seemingly isnt, was in as bad a position that he appears to be in then surely he would have been one that would be worth a second look by the SFA....

I will now go back to the reading, and appreciating the knowledge shared by those with the financial accumen and understanding

Wasn't aimed at anyone in particular, just thought it would serve as a handy list of points for people to skim over as the thread is as popular now as it has been recently.


What about non submission of accounts which were due by 31 March?

They may have been submitted to the SPL. They haven't been submitted to companies house.

[Caversham Green]

Hearts are certainly technically insolvent and have been for some years. Only the promise of continued financial support from UBIG enabled the accounts to be signed off by the auditors for the past three or four years. That support is not going to come from UBIG now as all activities are frozen even if they have any cash which they don't.

QED Hearts are insolvent.

:agree: The most widely accepted definition of insolvency is being unable to pay debts when they fall due. £22m of HoMFC's debts fell due between August and December 2011. We're now in May 2013 and those debts still haven't been paid.

They haven't suffered an insolvency event yet, thanks to the indulgence of their main creditor, but they are without a doubt insolvent.

[JeMeSouviens]

Nice handy summary. :greengrin

Obviously us pedantic ****ers need to get in about it though ... :wink:



4) Ukio Bankas is in administration


... and the "bad bits", ie. the bits that didn't get transferred over to Siauliu Bankas are up in Lithuanian court tomorrow facing bankruptcy proceedings.



5) Ukio Bankas holds the security over Tynecastle. This is seperate from UBIG and Hearts.


Well sort of, HMFC owes tons to UBIG and Tiny was held as security. UBIG owes even more tons to UKIO and transferred the security in an attempt to shore up the bank's bad debt position. That went well. :rolleyes:



6) If Hearts or UBIG (not Ukio Bankas) enter administration on or before the 31st of May then Hearts will be deducted 18 points. If it happens after the 31st of May hearts will be deducted 1/3 of whatever they finish this season on.


... or 15 points, whichever is higher.



8) There is nothing for the SPL or the SFA to currently act on.


... and they are desperate for it to stay that way. The SPL has already lost the OF derby, they will not want to lose ours as well. The SFA showed last year with its "Hun at all costs" strategy that the bottom line is far more important to Stewart Regan's CV then any attempt at actual governance. Outside of Dundee FC, there will be nobody in an official position in Scottish football that wants to see them get what's coming to them.

[#FromTheCapital]

What about non submission of accounts which were due by 31 March?

Hearts might have submitted accounts to SPL, nobody knows. Although it is very unlikely...

[Sanger]

:aok: Any predictions where I can stick a few bob that will last my retirement before I get my pensions coming in :greengrin


avoid Europe, Asia. avoid bonds. I would go for US companies - maybe an index fund on S&P 500.

[CropleyWasGod]

avoid Europe, Asia. avoid bonds. I would go for US companies - maybe an index fund on S&P 500.

Sod investments. What about the first race at Ascot tonight?

[Lucius Apuleius]

avoid Europe, Asia. avoid bonds. I would go for US companies - maybe an index fund on S&P 500.

:top marks Never really expected an answer but you are basically where my head was anyway. I did think about the BRIC (and maybe the S). I shall take direction before doing anything.

[Off the bar]

Let's clear a few things up as it seems some people don't actually bother reading the thread and just skip to the end hoping to see a post saying "Hearts are deed"

6) If Hearts or UBIG (not Ukio Bankas) enter administration on or before the 31st of May then Hearts will be deducted 18 points. If it happens after the 31st of May hearts will be deducted 1/3 of whatever they finish this season on.

.

I had it in my head that the season officially ended on June 10th. meaning they could be docked 18 points up until this point, excellent summary otherwise. :thumbsup:

[CropleyWasGod]

Let's clear a few things up as it seems some people don't actually bother reading the thread and just skip to the end hoping to see a post saying "Hearts are deed"


5) Ukio Bankas holds the security over Tynecastle. This is seperate from UBIG and Hearts.



Talking of pedantic sods....:greengrin

UKIO Bankas hold "a" security over Tynie. UBIG also have a security over all of the assets, but IIRC UKIO's ranks first.

And it's "separate". :greengrin

Good summary, though. I'm just back from marking exams, and I would have given you a decent mark. :aok:

[Lucius Apuleius]

Sod investments. What about the first race at Ascot tonight?

:greengrin A man after my own heart. I was made reduntant about 27 years ago but moved under TUPE and just changed hats at midnight, It was a good package and I wanted to go and put it straight on the first favourite. Wife and bank manager refused to release the funds :-(.

[Phil D. Rolls]

avoid Europe, Asia. avoid bonds. I would go for US companies - maybe an index fund on S&P 500.

Would I be right in saying "the value of investments can go down as well as up"? :greengrin

[JimBHibees]

:greengrin A man after my own heart. I was made reduntant about 27 years ago but moved under TUPE and just changed hats at midnight, It was a good package and I wanted to go and put it straight on the first favourite. Wife and bank manager refused to release the funds :-(.

Are they not the same person? :greengrin

[steviehibsleith]

To be fair, there's not a lot for the SPL to go on. Administration hasn't happened yet.

As for the SFA, the only thing they can act on is the (apparent) non-submission of the 2012 accounts. The "fit and proper owner" charge wouldn't stick until "the owner" (presumably you mean Romanov, even although he's not) has actually been convicted of something.

HI CWG you state non-submission of 2012 accounts, In the Evening news and Daily papers they are spouting off that they are reducing costs, living within thier means and have borrowed no money from Ukio/Ubig in the last 12 months.

If all is sweet why havent they submitted 2012 accounts ? In your opinion you think they are telling porkies.
Also when does the SPL stipulate they should be submitted for, are they breaking the rules here.

Anyone can answer just directing it at yourself good man as you filled me in on a previous question cheers

[Sanger]

Would I be right in saying "the value of investments can go down as well as up"? :greengrin

But in the long run they all mainly go up unless in a dodgy team from West Embra

[CropleyWasGod]

HI CWG you state non-submission of 2012 accounts, In the Evening news and Daily papers they are spouting off that they are reducing costs, living within thier means and have borrowed no money from Ukio/Ubig in the last 12 months.

If all is sweet why havent they submitted 2012 accounts ? In your opinion you think they are telling porkies.
Also when does the SPL stipulate they should be submitted for, are they breaking the rules here.

Anyone can answer just directing it at yourself good man as you filled me in on a previous question cheers

Firstly, they may have submitted the 2012 accounts to the SFA (it's them, not the SPL), although that is unlikely. They definitely haven't submitted them to Companies House.

The likeliest reason for not submitting the accounts to CH is that they have yet to be signed off by their auditor. The auditor has a problem, as I'm sure Cav will explain in greater detail than I can. S/he has to satisfy themselves that the company is a going concern before they can give any decent report on the accounts. With UBIG already stating that they won't support HMFC, and with the UKIO stuff going on, I can't see any way that HMFC ARE a going concern.

So, there will be a stand-off between the company and the auditor. The company won't want a report saying "the company is donald-ducked", and the auditor won't want to compromise their own standards. They will also want paid. :greengrin

[Phil D. Rolls]

But in the long run they all mainly go up unless in a dodgy team from West Embra

I get you now. Say I was to acquire some shares in this team, at say a penny a share. What sort of returns can I expect after: a) one year; b) five years; and c) 51 years?

[PatHead]

Firstly, they may have submitted the 2012 accounts to the SFA (it's them, not the SPL), although that is unlikely. They definitely haven't submitted them to Companies House.

The likeliest reason for not submitting the accounts to CH is that they have yet to be signed off by their auditor. The auditor has a problem, as I'm sure Cav will explain in greater detail than I can. S/he has to satisfy themselves that the company is a going concern before they can give any decent report on the accounts. With UBIG already stating that they won't support HMFC, and with the UKIO stuff going on, I can't see any way that HMFC ARE a going concern.

So, there will be a stand-off between the company and the auditor. The company won't want a report saying "the company is donald-ducked", and the auditor won't want to compromise their own standards. They will also want paid. :greengrin

What will break the stand-off and how long does that normally take?

[CropleyWasGod]

What will break the stand-off and how long does that normally take?

I don't know that it can be, without someone getting burned. The options are probably:-

1. the auditors say "it's not a going concern", the company says "okay then".... the accounts are published, and the company goes under very quickly.

2. the company says "here's £5m, give us a decent report", the auditor says "okay then". Given events elsewhere, I don't think that would stave off insolvency. (Legal note:- this is in no way impugning the reputation of Johnston whoever, or the audit profession..... apart from those ****ers who did Enron).

3. nothing happens. Companies House eventually get nasty, and strike the company off.

4. events elsewhere render all of this insignificant and meaningless.

[Ozyhibby]

It keeps getting repeated that Boone benefits from putting them in admin but there must be some benefit in doing it before they spend all the season ticket money on under performing footballers?

[Lucius Apuleius]

Are they not the same person? :greengrin

Very very nearly. :greengrin The bank manager at the time lives next door to me!

[Sanger]

It keeps getting repeated that Boone benefits from putting them in admin but there must be some benefit in doing it before they spend all the season ticket money on under performing footballers?


Too wade off HMRC and the forced sale of Tyncsatle by the Lithuanian administrators ( time to seek a buyer of the whole club including stadium - hightly unlikley anyone has the money - or find a new home before sale goes through). The latter they have been clearly working on - meeting with council and stories on on here describing valuation of Tynie indicate it is a course they are pursuing.

[CropleyWasGod]

Too wade off HMRC and the forced sale of Tyncsatle by the Lithuanian administrators ( time to seek a buyer of the whole club including stadium - hightly unlikley anyone has the money - or find a new home before sale goes through). The latter they have been clearly working on - meeting with council and stories on on here describing valuation of Tynie indicate it is a course they are pursuing.

Yeah, it's about control, or at least the illusion of control.

[greenginger]

I see in tonight's News Allisbarry is changing his position again on the £1.5 million due to HMRC.

I think he had previously said it was to be paid in monthly installments, but he has a list of key dates and one is a £ 500,000 payment due to HMRC in May ( does not say which day unfortunately )

Also finance expert :rolleyes: Neil Pately says now is the right time for any Yams wanting to buy HOMFC to get their funding together and make an offer to the Lith. admin.

[JimBHibees]

I see in tonight's News Allisbarry is changing his position again on the £1.5 million due to HMRC.

I think he had previously said it was to be paid in monthly installments, but he has a list of key dates and one is a £ 500,000 payment due to HMRC in May ( does not say which day unfortunately )

Also finance expert :rolleyes: Neil Pately says now is the right time for any Yams wanting to buy HOMFC to get their funding together and make an offer to the Lith. admin.

He definitely did say it was monthly payments.

[21.05.2016]

I seen there was a lassie called Alice Barry on ITV's This morning show today :greengrin

Alice Barry - could it be a sign :greengrin


No joke BTW lol

[Green Blood]

Some things to ponder!

1) The administrators job is damage limitation,they have to recover as much as they can

2) If sold as a going concern then HMFC have to retain their SPL status for administrator to recover a higher price.

3) I would be surprised if the only interest shown has been from the FOH or other interested parties wishing to keep the club going as is.

4) There must be property developers/speculative interested parties that want the land for development and would not be surprised if some bids are being tabled as we speak or are with the Temp Administrator in Lithuania.

5) Purely speculative this bit - Assuming a National House Builder wants to build 12 Blocks Flats 4 Storeys High with 4 Flats per Storey = 192 Units @ £150k average per unit that equates to £28,800,000. Then assuming the land is valued at £5 million the percentage of land valued against the gross figure = 17.36%. I am no expert on this but I would hazard a guess that this is a viable margin proposition for any developer

6) There is no White Knight or any party that have shown an interest in securing the club and stadium that have both the funds available now to purchase as a going concern. I believe that the FOH could muster a couple of million maximum but that would take time and thats time the administrator can't or won't entertain.

7) They (HMFC) may rise like a phoenix from the ashes, but in a lower league under another name without their own ground. They will be liquidated in my opinion and the asset they call the Pink Wongadome will be sold off to property developers. Think its important to remember that Edinburgh is a growing city and the demand for the right sorts of properties will continue to grow.

8) My one fear is that Edinburgh Council step in and buy it under the premise that they are going to develop it at some point in the future but in the meantime allow HMFC to rent it from them and continue playing there.

Conclusion - They will be Liquidated and assets sold off to highest bidder. It will happen but suspect that it won't be soon maybe see something concrete develop around July/August

[Just Alf]

I can set your mind at ease re no 8)

The council just don't have that amount of free money to do it.

Never say never of course, the only way it could happen is if significant funds are pulled from elsewhere .... The new primary school for example.

The whole idea is being looked upon as political suicide if it was pursued.

Source = drinking buddy who is a councillor and a Yam.

[#FromTheCapital]

I see in tonight's News Allisbarry is changing his position again on the £1.5 million due to HMRC.

I think he had previously said it was to be paid in monthly installments, but he has a list of key dates and one is a £ 500,000 payment due to HMRC in May ( does not say which day unfortunately )

Also finance expert :rolleyes: Neil Pately says now is the right time for any Yams wanting to buy HOMFC to get their funding together and make an offer to the Lith. admin.

I'd love to be in the room if/when Foundation of Hearts make an offer...
"So how much money do you have??",
"Well none actually, but take a look at all these pledges...."
*Liths struggle to contain laughter when presented with a list of names such as 'Barry Ryde', 'Phil McCracken', 'Eric Shaun' etc etc*

[jgl07]

Firstly, they may have submitted the 2012 accounts to the SFA (it's them, not the SPL), although that is unlikely. They definitely haven't submitted them to Companies House.

The likeliest reason for not submitting the accounts to CH is that they have yet to be signed off by their auditor. The auditor has a problem, as I'm sure Cav will explain in greater detail than I can. S/he has to satisfy themselves that the company is a going concern before they can give any decent report on the accounts. With UBIG already stating that they won't support HMFC, and with the UKIO stuff going on, I can't see any way that HMFC ARE a going concern.

So, there will be a stand-off between the company and the auditor. The company won't want a report saying "the company is donald-ducked", and the auditor won't want to compromise their own standards. They will also want paid. :greengrin

So what happens next? I can't see they have much hope of getting paid!

What penalties are likely to be imposed for non-return of accounts? Hearts were let off last season by the football authorities for late submission of accounts (presumably down to the same issues with the auditors). This cannot drag on for ever. Are they trying to stagger on till the end of the season?

While there seems little point in Administration, it would at least buy a little time. Maybe the plan was to go for administration but Dundee's recent revival has scuppered that plan as it would mean certain relegation and make a buyer even harder to find.

[Sanger]

Some things to ponder!

1) The administrators job is damage limitation,they have to recover as much as they can

2) If sold as a going concern then HMFC have to retain their SPL status for administrator to recover a higher price.

3) I would be surprised if the only interest shown has been from the FOH or other interested parties wishing to keep the club going as is.

4) There must be property developers/speculative interested parties that want the land for development and would not be surprised if some bids are being tabled as we speak or are with the Temp Administrator in Lithuania.

5) Purely speculative this bit - Assuming a National House Builder wants to build 12 Blocks Flats 4 Storeys High with 4 Flats per Storey = 192 Units @ £150k average per unit that equates to £28,800,000. Then assuming the land is valued at £5 million the percentage of land valued against the gross figure = 17.36%. I am no expert on this but I would hazard a guess that this is a viable margin proposition for any developer

6) There is no White Knight or any party that have shown an interest in securing the club and stadium that have both the funds available now to purchase as a going concern. I believe that the FOH could muster a couple of million maximum but that would take time and thats time the administrator can't or won't entertain.

7) They (HMFC) may rise like a phoenix from the ashes, but in a lower league under another name without their own ground. They will be liquidated in my opinion and the asset they call the Pink Wongadome will be sold off to property developers. Think its important to remember that Edinburgh is a growing city and the demand for the right sorts of properties will continue to grow.

8) My one fear is that Edinburgh Council step in and buy it under the premise that they are going to develop it at some point in the future but in the meantime allow HMFC to rent it from them and continue playing there.

Conclusion - They will be Liquidated and assets sold off to highest bidder. It will happen but suspect that it won't be soon maybe see something concrete develop around July/August

The only real thing of value is the land that the stadium sits on. The rest of HMFC has little value and without being liquidated carries debts. Nobody has the money to pay for the stadium who wants to save HMFC. That is why liquidation is on the cards with the stadium sold alone. A new club would have to be reconstituted and find somewhere else to play. If administration can slow the process down then Hearts could sell stadium and give the money to the administrators and move to new ground without being liquidated and end up in Div. 1 instead of applying to enter Div. 3!

[CropleyWasGod]

So what happens next? I can't see they have much hope of getting paid!

What penalties are likely to be imposed for non-return of accounts? Hearts were let off last season by the football authorities for late submission of accounts (presumably down to the same issues with the auditors). This cannot drag on for ever. Are they trying to stagger on till the end of the season?

While there seems little point in Administration, it would at least buy a little time. Maybe the plan was to go for administration but Dundee's recent revival has scuppered that plan as it would mean certain relegation and make a buyer even harder to find.

There are two penalty regimes for non-submission of accounts. (Actually, there are 3. HMRC will penalise them, but that's financial. Good luck with that).

1. the SFA have a range of penalties that they can use. Last year, being the first year of the new licensing regime, they probably wrote to HMFC "reminding" them of their responsibilities. It remains to be seen what they will do this year. The penalties range from financial through to suspension and termination of membership.

2. Companies House's penalty regime has probably already kicked in. There is a proposal to strike the company off, which has probably (although not certainly) been triggered by the non-submission of the accounts. That proposal will probably be (or have been) objected to by HMRC, so the company remains in existence for the moment.

[CropleyWasGod]

The only real thing of value is the land that the stadium sits on. The rest of HMFC has little value and without being liquidated carries debts. Nobody has the money to pay for the stadium who wants to save HMFC. That is why liquidation is on the cards with the stadium sold alone. A new club would have to be reconstituted and find somewhere else to play. If administration can slow the process down then Hearts could sell stadium and give the money to the administrators and move to new ground without being liquidated and end up in Div. 1 instead of applying to enter Div. 3!

That would require UKIO and UBIG to write off the remainder of their secured debts, no? And what would happen to the unsecured creditors?

[Just Alf]

Oh ma sides!!!!

Just been on brokeback and read this corker!

"As as been discussed numerous times, the £25m debt mentioned in the article, if indeed that's what it is, is never going to be paid or asked for. Romanov/UBIG/whoever gambled, spent big, timed it badly with a global recession and ultimately lost - as many financial institutions, football clubs and other businesses have done. They will accept this as part of business. If every bank or lender or investor closed down businesses to get their money back there would be no businesses left."


This is sooo funny and outlandish it MUST have been one of you lot that posted it!?

If this really reflects how the Saville's think then its no wonder they won't be here next season!

:D

[HibbyDave]

:top marks Never really expected an answer but you are basically where my head was anyway. I did think about the BRIC (and maybe the S). I shall take direction before doing anything.

Did I mention that I'm an IFA?

:agree::agree::agree:

[Treadstone]

I'd love to be in the room if/when Foundation of Hearts make an offer...
"So how much money do you have??",
"Well none actually, but take a look at all these pledges...."
*Liths struggle to contain laughter when presented with a list of names such as 'Barry Ryde', 'Phil McCracken', 'Eric Shaun' etc etc*

I believe Mr R Sole has pledged plenty.

[Lucius Apuleius]

Did I mention that I'm an IFA?

:agree::agree::agree:

You didn't. :greengrin You expensive?

[mca]

Cant Wait to see that wee jambo digger Driver Lassie who said she had buried a **** top under our stand...

I really Hope she is the first one sent in to demolish the joint... :greengrin

[God Petrie]

There's a 7-0 programme and a hibs scarf under the penalty spot at tynie. Probably be found soon.

[Just Alf]

There's a 7-0 programme and a hibs scarf under the penalty spot at tynie. Probably be found soon.

Also a Hibs scarf hidden in their old stand :-)

And as per PMs post.... Pretty sure it'll surface once Cala get in aboot it.

[Kato]

financial cheating?!

Financial doping is the correct term/crime.

#allisbarry Banderson needs pumelled with tweets using those two words after whining about non-Farts fans wanting to see them fail. Every other SPL club has been affected by their skullduggery. If they wanted a level playing field they shouldn't have ventured into that area. His complaints about "wanting to see people lose their jobs" are misplaced - the fault lies with the person who introduced Financial doping into Hearts. I had the audacity to call it those two words on the Scotsman comments section a few times - deleted by their mods every instance.

#Allisbarry #financial_doping

[Sanger]

Did I mention that I'm an IFA?

:agree::agree::agree:
Give my share of the commission to liquidation party to

[Sanger]

I'll be reporting from the Kaunas courtroom tomorrow as the state starts bankruptcy proceeding on UB or rather my Bloomberg terminal!

[ginger_rice]

:aok: Any predictions where I can stick a few bob that will last my retirement before I get my pensions coming in :greengrin

I'll PM you my bank details feel free to deposit your life savings :greengrin

[Spike Mandela]

I'll be reporting from the Kaunas courtroom tomorrow as the state starts bankruptcy proceeding on UB or rather my Bloomberg terminal!

Good stuff. I've got a day off tomorrow and should be cutting the grass but will probably get the popcorn in and settle down for regular updates.:cb

[God Petrie]

Financial doping is the correct term/crime.

#allisbarry Banderson needs pumelled with tweets using those two words after whining about non-Farts fans wanting to see them fail. Every other SPL club has been affected by their skullduggery. If they wanted a level playing field they shouldn't have ventured into that area. His complaints about "wanting to see people lose their jobs" are misplaced - the fault lies with the person who introduced Financial doping into Hearts. I had the audacity to call it those two words on the Scotsman comments section a few times - deleted by their mods every instance.

#Allisbarry #financial_doping

Can't agree more. Hibs should buy Messi, pay him £500k a week using money we don't have, win the lot then go bust. We can then trot out ridiculous "forever in our shadow big team"'dross forever.

7 goals all bought and paid for you shower of disgusting cheating clowns. Right up ye.

[Bostonhibby]

Sod investments. What about the first race at Ascot tonight?

Being a moderately succesful gambler on the gee gees who never does tips, if I were you, in the context of this thread I'd lump everything I have on any horse that is called All is Barry, or failing that any horse that has a jockey called Barry, if even that fails an outside bet is any horse that claims to have married, divorced or at least had a night out with any of the last 3 Hearts managers and lived to tell the tale.

[Treadstone]

I'll be reporting from the Kaunas courtroom tomorrow as the state starts bankruptcy proceeding on UB or rather my Bloomberg terminal!

Are these formalities tomorrow or are there any keywords/actions we should look out for that pour petrol on the fire ?

[Mikey]

I'll be reporting from the Kaunas courtroom tomorrow as the state starts bankruptcy proceeding on UB or rather my Bloomberg terminal!

What time of day do you expect updates to start filtering through?

[greenginger]

I'll be reporting from the Kaunas courtroom tomorrow as the state starts bankruptcy proceeding on UB or rather my Bloomberg terminal!


So Hibs.net will have a representative at the Kaunas court tomorrow. Will the EEN be sending Allisbarry or will they just take copy from us.

Joke of a newspaper !

[SteveHFC]

I'll be reporting from the Kaunas courtroom tomorrow as the state starts bankruptcy proceeding on UB or rather my Bloomberg terminal!

Tremendous

[Saorsa]

I'll be reporting from the Kaunas courtroom tomorrow as the state starts bankruptcy proceeding on UB or rather my Bloomberg terminal!Hopefully you will be reporting lots and lots of good news :aok: (but no for the banjo players http://i19.photobucket.com/albums/b168/jamie1971/smilies%202/banjoyam_zps6d6ab127.gif (http://s19.photobucket.com/user/jamie1971/media/smilies%202/banjoyam_zps6d6ab127.gif.html) ) :greengrin

[Minder]

What time of day do you expect updates to start filtering through?



Fingers crossed we have Maroon smoke emanating from a chimney to tell the world the fuds are dead!

[silverhibee]

I'll be reporting from the Kaunas courtroom tomorrow as the state starts bankruptcy proceeding on UB or rather my Bloomberg terminal!


"And over to our man in Lithland from :hnet:" :not worth :applause:

[Mikey]

Fingers crossed we have Maroon smoke emanating from a chimney to tell the world the fuds are dead!

Sounds like an excellent time to boot guests and make it members only :greengrin

Or even just block the EEN's IP address for a while :hi:

Or we could charge for access to this thread with all proceeds going to Youth Development............. :Romanov:

:tee hee:

[#FromTheCapital]

Fingers crossed we have Maroon smoke emanating from a chimney to tell the world the fuds are dead!


:faf:

[Mikey]

You know what, I really do reckon this is the best smilie we've got............ :hi:


:hilarious

[Sanger]

We will get the central banks strategy for how to best fill the $463 million black hole caused by Romanov in recovering assets of UB and selling them. Should be a good one!

[Mikey]

Going back to their accounts and whether they've been lodged in time to allow a license to be issued for next season. If they haven't then that's the perfect excuse for the SPL to hit them with a 25 point deduction and get them out of the SPL and make them the SFL's problem.

Because let's face it, if they do stay up they're just going to go tits up during the summer and need to surface in division 3 anyway. By getting them out of the way now Dundee can stay in the SPL and Thistle come up as of right. We can get on with it and the SFL can juggle their leagues and perhaps find a place for them at the bottom of the pile.

If Hearts stay in the SPL we're just going to have the same mess we had last summer and it'll result in Morton coming up at short notice and being next season's whipping boys.

Get them to **** before they cause even more problems.

[DaveF]

Going back to their accounts and whether they've been lodged in time to allow a license to be issued for next season. If they haven't then that's the perfect excuse for the SPL to hit them with a 25 point deduction and get them out of the SPL and make them the SFL's problem.

Because let's face it, if they do stay up they're just going to go tits up during the summer and need to surface in division 3 anyway. By getting them out of the way now Dundee can stay in the SPL and Thistle come up as of right. We can get on with it and the SFL can juggle their leagues and perhaps find a place for them at the bottom of the pile.

If Hearts stay in the SPL we're just going to have the same mess we had last summer and it'll result in Morton coming up at short notice and being next season's whipping boys.

Get them to **** before they cause even more problems.

:tsk tsk: Where's that friendly rivalry #allisbarry was promoting the other day :greengrin

[CropleyWasGod]

Going back to their accounts and whether they've been lodged in time to allow a license to be issued for next season. If they haven't then that's the perfect excuse for the SPL to hit them with a 25 point deduction and get them out of the SPL and make them the SFL's problem.

Because let's face it, if they do stay up they're just going to go tits up during the summer and need to surface in division 3 anyway. By getting them out of the way now Dundee can stay in the SPL and Thistle come up as of right. We can get on with it and the SFL can juggle their leagues and perhaps find a place for them at the bottom of the pile.

If Hearts stay in the SPL we're just going to have the same mess we had last summer and it'll result in Morton coming up at short notice and being next season's whipping boys.

Get them to **** before they cause even more problems.

You can be such a caring wee soul at times.:greengrin

If they did that, Hearts would appeal, and we'd be tied up in hearings all summer and get the same mess that you're expecting anyway.

Anyway, a wee trip to Gorgeous Greenock is a tempting prospect. :rolleyes:

[Mikey]

You can be such a caring wee soul at times.:greengrin

If they did that, Hearts would appeal, and we'd be tied up in hearings all summer and get the same mess that you're expecting anyway.

Anyway, a wee trip to Gorgeous Greenock is a tempting prospect. :rolleyes:

Partick Thistle and Morton will be in the SPL and Hearts will be in Div 3 regardless. And as we all know, Hearts can't afford an appeal :wink:

[Treadstone]

These accounts put the SFA in a right pickle. If they have been received and read like Jimmy Saviles diary it will come to light eventually and cue Regan answering questions over corporate governance. If they haven't been received then everyone will ask what were they playing at.

[Minder]

Hearts can't afford an appeal :wink:


Not even a poppy appeal ! :greengrin

[CropleyWasGod]

Partick Thistle and Morton will be in the SPL and Hearts will be in Div 3 regardless. And as we all know, Hearts can't afford an appeal :wink:

Fair point.

Can they get Legal Aid? :greengrin

[Mikey]

Fair point.

Can they get Legal Aid? :greengrin

No, I've already told you. They can get to **** :greengrin

[CropleyWasGod]

No, I've already told you. They can get to **** :greengrin

Thank you, Rumpole. :greengrin

[Dashing Bob S]

The sobering fact is that we've had our best season in living memory, beyond anything the Famous Five or the 7-0 or 6-2 teams could have dreamed off, and we're still only only TWO measly points of the biggest club in the world who are having financial/operational issues, bur with their 400,000 fanbase will easily resolve them. They cast such a BIG shadow over us. I'm so depressed.



Yet why do my sides ache every time I go on this thread?

[Saorsa]

Going back to their accounts and whether they've been lodged in time to allow a license to be issued for next season. If they haven't then that's the perfect excuse for the SPL to hit them with a 25 point deduction and get them out of the SPL and make them the SFL's problem.

Because let's face it, if they do stay up they're just going to go tits up during the summer and need to surface in division 3 anyway. By getting them out of the way now Dundee can stay in the SPL and Thistle come up as of right. We can get on with it and the SFL can juggle their leagues and perhaps find a place for them at the bottom of the pile.

If Hearts stay in the SPL we're just going to have the same mess we had last summer and it'll result in Morton coming up at short notice and being next season's whipping boys.

Get them to **** before they cause even more problems.that's no very nice :top marks :greengrin :thumbsup:

[EH6 Hibby]

We will get the central banks strategy for how to best fill the $463 million black hole caused by Romanov in recovering assets of UB and selling them. Should be a good one!

Are we likely to see some action and decisions made tomorrow, or is this just the start of something that will take weeks?

[CropleyWasGod]

Are we likely to see some action and decisions made tomorrow, or is this just the start of something that will take weeks?

In terms of Hearts, which is mainly what we're all thinking about, I am guessing the latter. The Lith authorities will have higher priorities.

The best I think we can expect is that UKIO's administration will be confirmed, and (perhaps) UBIG will be put into the "bad debt" bag. The problem with that is that (AFAIK) UBIG still have no Board, so there is no-one there to push their insolvency button. It may be left to UKIO's administrator to take that action, and that could take a while.

[nonshinyfinish]

Are we likely to see some action and decisions made tomorrow, or is this just the start of something that will take weeks?

Now that it seems a certainty that they're going to get f***ed eventually, some extended foreplay sounds like fun.

[Mikey]

In terms of Hearts, which is mainly what we're all thinking about, I am guessing the latter. The Lith authorities will have higher priorities.

The best I think we can expect is that UKIO's administration will be confirmed, and (perhaps) UBIG will be put into the "bad debt" bag. The problem with that is that (AFAIK) UBIG still have no Board, so there is no-one there to push their insolvency button. It may be left to UKIO's administrator to take that action, and that could take a while.

I could do that :agree:

[cam75]

Will the court session be sorted in 1 hearing or could it drag with appel,If the mad 1 has the cash ?

[The Falcon]

Yam poster called PTBCAL who has a reputation for being ITK, apparently, just posted that administration is imminent, although he seems unsure as to who is entering administration although it is presumed to be Hearts. If accurate it probably means that the ST money is, as others suspect, already gone

Lets all cross our fingers.

[Mikey]

Yam poster called PTBCAL who has a reputation for being ITK, apparently, just posted that administration is imminent, although he seems unsure as to who is entering administration. If accurate it probably means that the ST money is, as others suspect, already gone

Lets all cross our fingers.

Yep, he's very much on the ball.

[grammyb111]

I'll be reporting from the Kaunas courtroom tomorrow as the state starts bankruptcy proceeding on UB or rather my Bloomberg terminal!

Have you set up an NLRT as well?! I'm glad I'm not the only saddo!

[clerriehibs]

Yam poster called PTBCAL who has a reputation for being ITK, apparently, just posted that administration is imminent, although he seems unsure as to who is entering administration although it is presumed to be Hearts. If accurate it probably means that the ST money is, as others suspect, already gone

Lets all cross our fingers.

How many STs do they think they shifted?

[Pat 0-7]

Yam poster called PTBCAL who has a reputation for being ITK, apparently, just posted that administration is imminent, although he seems unsure as to who is entering administration although it is presumed to be Hearts. If accurate it probably means that the ST money is, as others suspect, already gone

Lets all cross our fingers.


:pray::pray::pray::pray::pray::pray::pray::pray::p ray:

[robinp]

How many STs do they think they shifted?

Hopefully plenty, will serve the idiots right for handing over their cash!

[blackpoolhibs]

Apologies. It's administrators in Lithuania that have been appt - cue deserved flak for ME!!!

What does this mean from PTBCAL?

[The Falcon]

How many STs do they think they shifted?


Claiming 5000 on 20th April.

http://www.heartsfc.co.uk/articles/20130420/5000-and-counting_2241384_3150122

[Kato]

If accurate it probably means that the ST money is, as others suspect, already gone

Along with their "shares" - that would be hilarious. A couple of Jambo acquaintances have already bought theirs and in truth I'd feel (a bit*) sorry for them but then again one of them has acted like billy big baws for years, especially after they financially doped their way to beating us last year.











*teensy

[macca70]

How many STs do they think they shifted?

I'm sure they were saying 5000 so that probably means 1000-2000

[green glory]

Still can't understand why this thread hasn't been renamed Jambogeddon.

[The Falcon]

Apologies. It's administrators in Lithuania that have been appt - cue deserved flak for ME!!!

What does this mean from PTBCAL?

No idea but it appears to have a few of their ringpieces going.

[clerriehibs]

Shaun William Ryder ...

"Guess we just have to wait and see, and be ready to mobilise, when needed. We will all have a part to play before the end."

:faf:

[macca70]

How could they possibly be going into Admin?

Every Jambo is telling us they are self sufficient!

They're that self sufficient they have already *****ed the money from the last 2 Cup Finals, next seasons season ticket money, recent share issue, cake bake and face painting cash!!

That sounds like self sufficient right enough .

[SaulGoodman]

Shaun William Ryder ...

"Guess we just have to wait and see, and be ready to mobilise, when needed. We will all have a part to play before the end."

:faf:

In sure they an quite capably mobilise into Div 3

[Springbank]

Shaun Ryder is twisting my melon man

[Prof. Shaggy]

Shaun William Ryder ...

"Guess we just have to wait and see, and be ready to mobilise, when needed. We will all have a part to play before the end."

:faf:

Is he Tolkien in disguise?

[CropleyWasGod]

Is he Tolkien in disguise?

Lord of the Ringpiece.

[Northernhibee]

Yam poster called PTBCAL who has a reputation for being ITK, apparently, just posted that administration is imminent, although he seems unsure as to who is entering administration although it is presumed to be Hearts. If accurate it probably means that the ST money is, as others suspect, already gone

Lets all cross our fingers.

Asda have twelve packs of Brothers Toffee Apple or 7% festival pear cider on sale for seven quid.

I have a load of the stuff in the fridge ready to crack open.

Assuming Dundee lose their next game and that lot get a point from their next game, that could mean we have two opportunities to relegate that lot. Then win the Scottish cup.

Relegate Hearts, win the Scottish Cup.

[Mon Dieu4]

I've just seen my pal posting on their site, he seems quite worried, now that its going to effect someone close to me i feel really bad for them









hahahahahahahahahahaha GIRUY

[Hibee87]

I'm sure they were saying 5000 so that probably means 1000-2000

Don't know any figure but I do know a hearts shareholder (a proper one, not a guy who handed over the bairns crimbo fund) who has not renewed. Reason being he has been told to 'wait and see what happens'. he was told this from someone he fully trusts within the club. His words not mine :wink: oh and he told me this about 4-5 weeks ago.

[7062]

Might be a daft question, but I'll ask anyway. There's been a lot of chat about what affect it would have in terms of point deduction in relation to when (not if) they go into admin.

Point deductions and timing aside, how goosed would they be in terms of the team they could put on the park? Would it be a case of all players being put up for sale/released? (If, hypothetically, they weren't liquidated.)

[Kato]

Shaun William Ryder ...

"Guess we just have to wait and see, and be ready to mobilise, when needed. We will all have a part to play before the end."

:faf:



He thinks "mobilise" means getting ready to talk about Jambogeddon on his phone.

At least he knows the end is nigh. The part he'll play is sitting around open mouthed praying "Mr Romanov" sails up the Forth and tells them "it's ok, we owe to ourselves".

[CropleyWasGod]

Might be a daft question, but I'll ask anyway. There's been a lot of chat about what affect it would have in terms of point deduction in relation to when (not if) they go into admin.

Point deductions and timing aside, how goosed would they be in terms of the team they could put on the park? Would it be a case of all players being put up for sale/released? (If, hypothetically, they weren't liquidated.)

It's not a daft question.

In reality, if they go into administration (as opposed to liquidation), it will probably be a very short one, and liquidation would follow.

However, in the hypothetical situation that administration lasts any length of time,.... the administrator would strike a balance between selling off those players that could get some money in, whilst retaining a core squad that would be attractive to a new owner. The Rangers' administrators favoured the latter, but they were in a different (and relatively healthier) situation.

[Saorsa]

Shaun William Ryder ...

"Guess we just have to wait and see, and be ready to mobilise, when needed. We will all have a part to play before the end."

:faf::faf: shame for them they didnae mobilise a few years ago instead of bending over, sticking their heids in the sand and being rogered by Vlad.

plums


http://www.youtube.com/watch?v=djIZyGPZ4rM


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

[Mikey]

It's not a daft question.

In reality, if they go into administration (as opposed to liquidation), it will probably be a very short one, and liquidation would follow.

However, in the hypothetical situation that administration lasts any length of time,.... the administrator would strike a balance between selling off those players that could get some money in, whilst retaining a core squad that would be attractive to a new owner. The Rangers' administrators favoured the latter, but they were in a different (and relatively healthier) situation.

Aye, they were only completely ****ed :hilarious

[lord bunberry]

:faf: shame for them they didnae mobilise a few years ago instead of bending over, sticking their heids in the sand and being rogered by Vlad.

plums


http://www.youtube.com/watch?v=djIZyGPZ4rM


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

Ha ha I knew what that video was going to be before I even clicked on it but I still watched it and it still makes me laugh as much as the first time I saw it. What a bunch of thick mutant hearts ********

[SteveHFC]

:faf: shame for them they didnae mobilise a few years ago instead of bending over, sticking their heids in the sand and being rogered by Vlad.

plums


http://www.youtube.com/watch?v=djIZyGPZ4rM


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

The guy smiling at the end because his shirt is signed :faf:

[Barney McGrew]

Might be a daft question, but I'll ask anyway. There's been a lot of chat about what affect it would have in terms of point deduction in relation to when (not if) they go into admin.

Point deductions and timing aside, how goosed would they be in terms of the team they could put on the park? Would it be a case of all players being put up for sale/released? (If, hypothetically, they weren't liquidated.)

I think it would be down to the administrator what staff they kept on or made redundant.

All the high earners would be out the door pretty quickly.

[Just Alf]

Might be a daft question, but I'll ask anyway. There's been a lot of chat about what affect it would have in terms of point deduction in relation to when (not if) they go into admin.

Point deductions and timing aside, how goosed would they be in terms of the team they could put on the park? Would it be a case of all players being put up for sale/released? (If, hypothetically, they weren't liquidated.)

Good point... Bottom line the blue nose route isn't open to them, it's going to be more like Dunfermline... They off loaded 7 players as soon as they went into admin? ....... To be fair that's the BEST they can hope for, pretty sure CWG and CG etc are on the money when they're saying everything points to a quick road into liquidation as soon as the admin door opens.

[Saorsa]

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

The guy smiling at the end because his shirt is signed :faf:Probably got it framed and still has it hanging on the wall, fud. :agree:

http://i19.photobucket.com/albums/b168/jamie1971/smilies%202/banjoyam_zps6d6ab127.gif (http://s19.photobucket.com/user/jamie1971/media/smilies%202/banjoyam_zps6d6ab127.gif.html)

[Dashing Bob S]

I've just seen my pal posting on their site, he seems quite worried, now that its going to effect someone close to me i feel really bad for them









hahahahahahahahahahaha GIRUY

Brilliant post. I confess, you had me.

[Dashing Bob S]

Looks like the big issues are: 1) will they be able to stagger on to the end of the season, and 2) will they be able to play in any competition at any level, next season?

I'd settle for a 1) yes and 2) no, though a double no would also be acceptable.

[Peevemor]

Looks like the big issues are: 1) will they be able to stagger on to the end of the season, and 2) will they be able to play in any competition at any level, next season?

I'd settle for a 1) yes and 2) no, though a double no would also be acceptable.

Bob, the Big Issue will be HMFC's main source of income next season.

[Kato]

Trough-Snouted parasitic professional Con-Artist/MP sticks his oar in.

http://www.scotsman.com/sport/football/top-football-stories/murray-ukio-bankas-hearing-won-t-threaten-hearts-1-2916555

[greenginger]

Trough-Snouted parasitic professional Con-Artist/MP sticks his oar in.

http://www.scotsman.com/sport/football/top-football-stories/murray-ukio-bankas-hearing-won-t-threaten-hearts-1-2916555


Yep, looks like the Yams have got an Allisbarry Mark 2.

[macca70]

Trough-Snouted parasitic professional Con-Artist/MP sticks his oar in.

http://www.scotsman.com/sport/football/top-football-stories/murray-ukio-bankas-hearing-won-t-threaten-hearts-1-2916555

The article kicks off stating this court case won't affect Hearts but then the article goes onto state how the situation is cloudy, this might give an insight into how they will treat foreign debt and basically how they have no idea how this court case will affect Hearts.

Desperation or what, it's like he's trying to convince himself that hearts won't be affected by the court case, as the reality is that he doesnae have a clue.

Allisbarry!!

[lord bunberry]

Trough-Snouted parasitic professional Con-Artist/MP sticks his oar in.

http://www.scotsman.com/sport/football/top-football-stories/murray-ukio-bankas-hearing-won-t-threaten-hearts-1-2916555

What a load of pish. Does he really think that theLithuanian central bank will give a monkeys about the fate of homfc just because they are chairing the european council in october, I can't believe the scotsman are printing that drivel

[greenginger]

This guy Murray has not got a clue and he is an MP !

One example.

" The £15 million that Hearts owe to Ukio ( Bankas ) , the Bank in turn owes this money to UBIG. :confused:


Its late, but if my brain is still working it is UBIG that owes a sh*tload of dosh to the Bank.

[Saorsa]

What a load of pish. Does he really think that the Lithuanian central bank will give a monkeys about the fate of homfc just because they are holding the eu presidency in october, I can't believe the scotsman are printing that drivelI can