Share Transfers Agreed/Cooling off period

[bingo70]

I think it lies in the hands of the SPL committee. They were hit with a 2 month transfer embargo last month for late payment, what's the next step? A fine isn't an option. A points deduction?

If the wage bill alone is £600k per month, they'll probably need to raise a damn sight more than that over the next 10 days or so, and I honestly don't see that happening if the previous 2 months are a yardstick.

If they miss Novembers wages the committee probably won't meet up to discuss potential punishments until December though so i don't see that being a big problem to them.

Reckon they'll end up with a suspended points deduction, probably only a couple at first though as they know there'll be more to come over the coming months

[Saorsa]

http://adscam.typepad.com/.a/6a00d8341bfa1853ef01676716f21d970b-300wi

[Peevemor]

If they miss Novembers wages the committee probably won't meet up to discuss potential punishments until December though so i don't see that being a big problem to them.

Reckon they'll end up with a suspended points deduction, probably only a couple at first though as they know there'll be more to come over the coming months

I'd imagine any punishment will have been decided already with hearts being warned in advance.

[Craig_in_Prague]

If they miss Novembers wages the committee probably won't meet up to discuss potential punishments until December though so i don't see that being a big problem to them.

Reckon they'll end up with a suspended points deduction, probably only a couple at first though as they know there'll be more to come over the coming months

The tax case is the most serious (imminent) threat. When does the hearing start?

[Stevie Reid]

I was just thinking how deep the similarities are between Rangers under Murray and Hearts under Romanov are - both had a Holy Grail that they threw money that they didn't have at after coming (relatively) close to winning; in Rangers' case the Champions League, Hearts' case the SPL.

Once it became abundantly clear that neither would come anywhere close to achieving said goal, they settled for simply trumping their greatest rivals and threw money that they didn't have at that - in Rangers' case it was spending a tenner to Celtic's fiver to win the domestic trophies, in Hearts' case it was playing the 'big' team card, outbidding us for players and dominating the derbies for the last 3 and a half years, sadly (for us) culminating in that day in May where the gap in spending (something in the region of £30M more in wages than us since Romanov's arrival) was exemplified in excruciating fashion.

Now the Hearts supporters are displaying the same staggering mix of ignorance and arrogance that many, many Rangers fans displayed (and still are), thinking that they are quite simply too big to be brought down and that they will carry on exactly as they are. As if May 2012 didn't hurt enough for us, imagine how ****ed Hearts would be if they hadn't won - less season tickets, no tie against Liverpool, home crowds even lower than they are. Now, they have been lucky to get yet another windfall from a cup tie against us.

Celtic would have been devastated to have missed out on putting Rangers under earlier by surrendering the three league titles to them (from 2008-09 to 2010-11) and seeing them win millions of pounds of Champions League money when they were on the brink - similarly, Hearts successes against us have helped prop them up for long enough. I could not bear to see us go through the double pain of losing AND missing the opportunity we have to cut off their last decent revenue supply this season.

We can hurt them really, really badly in December. Please let us do it.

[Mikey]

If they miss Novembers wages the committee probably won't meet up to discuss potential punishments until December though so i don't see that being a big problem to them.

Reckon they'll end up with a suspended points deduction, probably only a couple at first though as they know there'll be more to come over the coming months

I think they're on the case now. September's meeting took so long that it happened after October's missed payment but the October meeting happened pretty quickly after that.

Assuming they miss pay day in November too I would expect the meeting to happen within a few days of it.

[cabbageandribs1875]

"It's been a helluva seven years [since Romanov took over]," added Robertson. "Some of the players that have been here have been incredible".

Slightly struggling to think of any player who's been "incredible". Who does he mean? Nade? Kyle? :dunno:



did the round boy seriously not learn ANYTHING in his time being a romanov employee, and now he's shamefully pleading with thick-headed yamboids to p@sh their money away in the wind, dearie me

[hibsmad]

Oh dear. In between pie munching Blobbo has put out this begging message...

http://www.bbc.co.uk/sport/0/football/20219448

Check oot the the state of his coupon! He is getting uglier with age!

Only a Hearts legend could look like that.

[Caversham Green]

As as aside - normally when there's a share issue the prospective investor is able to view a current set of accounts to weigh up the viability of any purchase. That's logical and a no-brainer.

Question - what was the year-end date of the last set of Yam accounts? Surely those accounts could be 18 months out of date and the situation could be far worse than was previously audited.

:agree: The last accounts available were to 30 June 2011 and the brochure (it's a prospectus in all but name) uses figures from that throughout. Given that we're now 4 months after their year end date the very least they should be giving is a summary of what the 2012 accounts will show, even if the figures are unaudited.


Really hope your right but i wish they'd hurry up and get on with it. When do these shares that they're relying on go on sale? how long till we get an indication if they've been a success or not?

From the few jambos i've spoken to and the general mood of there fans that i can make out it sounds like it's going to be a massive flop, if that's the case could it be curtains before December?



There was some chief supporter yam in the paper last week praising the club for their honesty and transparacy :tee hee:

The shares are on sale now - the offer opened on 27 October and ends on 19 December. The fact that they're wheeling out various players and ex-players to urge fans to buy, together with the increasing urgency in the language they're using suggests it hasn't been a great success so far, but we may not know for sure until the 2012-13 accounts are issued - around May 2014 if previous performance is anything to go by. Of course something may happen before then that will give us a good idea of how it went....

[Mikey]

Of course something may happen before then that will give us a good idea of how it went....

:tee hee:

[Off the bar]

Oh dear. In between pie munching Blobbo has put out this begging message...

http://www.bbc.co.uk/sport/0/football/20219448

is it just me or does nobbo's face in the picture not look quite alot like he's on the bog straining to push out last nights curry and lager binge?

[kennyh]

I think they're on the case now. September's meeting took so long that it happened after October's missed payment but the October meeting happened pretty quickly after that.

Assuming they miss pay day in November too I would expect the meeting to happen within a few days of it.



Why the rush assuming they miss the deadline in Nov the minimum the SPL committee will do is to roll on the current 2 month signing embargo. If they set the meeting for the 23rd Nov and Hearts then pay up Dec and Jan using the share cash they will have the last week in Jan to bring players in. Lets hope this time the SPL don't meet till at least Dec 3rd and the 2 month ban will run through to Feb 3rd.

[Leithenhibby]

Why the rush assuming they miss the deadline in Nov the minimum the SPL committee will do is to roll on the current 2 month signing embargo. If they set the meeting for the 23rd Nov and Hearts then pay up Dec and Jan using the share cash they will have the last week in Jan to bring players in. Lets hope this time the SPL don't meet till at least Dec 3rd and the 2 month ban will run through to Feb 3rd.


And "if" HMRC win the tax case!!.... :greengrin

[Sergey]

As as aside - normally when there's a share issue the prospective investor is able to view a current set of accounts to weigh up the viability of any purchase. That's logical and a no-brainer.

Question - what was the year-end date of the last set of Yam accounts? Surely those accounts could be 18 months out of date and the situation could be far worse than was previously audited.



:agree: The last accounts available were to 30 June 2011 and the brochure (it's a prospectus in all but name) uses figures from that throughout. Given that we're now 4 months after their year end date the very least they should be giving is a summary of what the 2012 accounts will show, even if the figures are unaudited.

Isn't that in breach of some sort of financial guideline? Surely if they have other figures available (which their accountants/auditors must have) then they should be publishing those instead of a balance sheet dated June 2011.

That's akin to Comet asking for investment while showing their June 2011 accounts, knowing full well that they're trading while insolvent. That's surely not on.

[Hibercelona]

Oh dear. In between pie munching Blobbo has put out this begging message...

http://www.bbc.co.uk/sport/0/football/20219448

"The club is in serious, serious trouble."


As they would say over on brokeback....




http://oi49.tinypic.com/mr4abc.jpg

[Broken Gnome]

Ukio Bankas Group, Lithuania’s biggest*publicly traded bank, fell to the lowest in almost four years after*saying it took ownership of a sports arena developer from borrowers who*pledged the company as collateral.***** The shares fell as much as 4 percent on the Nasdaq OMX Vilnius*exchange in the Lithuanian capital, closing down 2.6 percent at 0.148*euros ($0.19), the lowest since*Dec. 1, 2008, according to data compiled*by Bloomberg. Volume of 298,999 shares was five times the three-month*average.***** Ukio Bankas increased its stake in UAB Zalgirio Sporto Arena to*100 percent by taking over 94.9 percent of shares, valued at 357 million*litai ($132 million), from debtors, the lender said in a statement*before trading*today. Its shares have fallen during five of the last six*trading sessions since Oct.29, when the bank reported a group net loss of 44 million litai for nine*months of this year.***** By taking over the shares of the stadium developer, the bank said*it would “be able to accelerate the development and implementation of*the real estate project carried out by the company, and also will avoid*possible loan impairment losses.”

[brog]

:agree: The last accounts available were to 30 June 2011 and the brochure (it's a prospectus in all but name) uses figures from that throughout. Given that we're now 4 months after their year end date the very least they should be giving is a summary of what the 2012 accounts will show, even if the figures are unaudited.



The shares are on sale now - the offer opened on 27 October and ends on 19 December. The fact that they're wheeling out various players and ex-players to urge fans to buy, together with the increasing urgency in the language they're using suggests it hasn't been a great success so far, but we may not know for sure until the 2012-13 accounts are issued - around May 2014 if previous performance is anything to go by. Of course something may happen before then that will give us a good idea of how it went....

Couldn't agree more, if they'd sold even say 20% their PR spin would have been in full drive by now. Perhaps even the Yams realise that a £100 a donation to Vlad's charity is a no no & are keeping their paws in pockets!
PS, particularly when £100 could buy a villa in Gorgie!

[green glory]

IIRC the day the news broke about the tax case it was mentioned the hearing was in 11 days time. That would have made it yesterday. Does anyone have any more info?

[green glory]

IIRC the day the news broke about the tax case it was mentioned the hearing was in 11 days time. That would have made it yesterday. Does anyone have any more info?

Correction today. I wonder if the timing of Bumguts Blobbo's "serious serious trouble" appeal has anything to do with this.

[bingo70]

Correction today. I wonder if the timing of Bumguts Blobbo's "serious serious trouble" appeal has anything to do with this.

http://www.guardian.co.uk/football/2012/oct/26/hearts-revenue-customs-tribunal-tax-bill

Think it was to last for 11 days after it started, not start in 11 days?

[Caversham Green]

Isn't that in breach of some sort of financial guideline? Surely if they have other figures available (which their accountants/auditors must have) then they should be publishing those instead of a balance sheet dated June 2011.

That's akin to Comet asking for investment while showing their June 2011 accounts, knowing full well that they're trading while insolvent. That's surely not on.

I suspect it is in breach of the rules. A prospectus (or document in lieu of prospectus) is expected to give a picture of the current state of the issuing company's finances and 16 month old accounts clearly don't do that. I guess the saving grace is that the document doesn't claim that the shares are a good investment, although suggesting that a new state-of the-art stadium is even remotely viable strikes me as highly misleading.

[Sergey]

That's what I thought, Cav.

I'll put in a call to the FSA, UKLA & The London Stock Exchange to make them aware of my, sorry... all of our concerns!

[green glory]

http://www.guardian.co.uk/football/2012/oct/26/hearts-revenue-customs-tribunal-tax-bill

Think it was to last for 11 days after it started, not start in 11 days?

Ah ok. Will be this month sometime though.

[Hibbyradge]

Ukio Bankas Group, Lithuania’s biggest*publicly traded bank, fell to the lowest in almost four years after*saying it took ownership of a sports arena developer from borrowers who*pledged the company as collateral.***** The shares fell as much as 4 percent on the Nasdaq OMX Vilnius*exchange in the Lithuanian capital, closing down 2.6 percent at 0.148*euros ($0.19), the lowest since*Dec. 1, 2008, according to data compiled*by Bloomberg. Volume of 298,999 shares was five times the three-month*average.***** Ukio Bankas increased its stake in UAB Zalgirio Sporto Arena to*100 percent by taking over 94.9 percent of shares, valued at 357 million*litai ($132 million), from debtors, the lender said in a statement*before trading*today. Its shares have fallen during five of the last six*trading sessions since Oct.29, when the bank reported a group net loss of 44 million litai for nine*months of this year.***** By taking over the shares of the stadium developer, the bank said*it would “be able to accelerate the development and implementation of*the real estate project carried out by the company, and also will avoid*possible loan impairment losses.”

What does this mean?

[green glory]

That's what I thought, Cav.

I'll put in a call to the FSA, UKLA & The London Stock Exchange to make them aware of my concerns!

Only doing your duty as a responsible citizen.

[Leithenhibby]

What does this mean?

I believe that the mad one has had his basketball stadium seized by the bank........ :wink:

Ooops, that is not what I thought it was.... But the link below will more than make up for my mistake :-)


https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=528504&messageId=650056

[Broken Gnome]

What does this mean?

Not a scoob, was hoping for finance-speak translation.

[cabbageandribs1875]

8802

[Sergey]

Couldn't agree more, if they'd sold even say 20% their PR spin would have been in full drive by now. Perhaps even the Yams realise that a £100 a donation to Vlad's charity is a no no & are keeping their paws in pockets!

PS, particularly when £100 could buy a villa in Gorgie!

Just went onto Kickback and they've accumulatively raised the grand total of......

...£1200

[bingo70]

Just went onto Kickback and they've accumulatively raised the grand total of......

...£1200








They should get a fairly decent plasma TV for that :agree:

[Leithenhibby]

Just went onto Kickback and they've accumulatively raised the grand total of......

...£1200








How do they know how much has been raised so far? :wink:

[Saorsa]

Just went onto Kickback and they've accumulatively raised the grand total of......

...£1200






:faf:

[Jim44]

They're also suggesting that fatso should donate one of his sweaty, gin sodden tops as a wee sweetner raffle prize for wasting £100 on bale-out money. :-)

[Hibercelona]

Just went onto Kickback and they've accumulatively raised the grand total of......

...£1200








Won't their savior Skacel step in and donate the full amount, like he "allegedly" did for their cup final display?

[Hibbyradge]

Remember the £1200 is just made up of small donations from Kickback fuds.

Individual "investors" will buy their own "shares".

[Dashing Bob S]

Just went onto Kickback and they've accumulatively raised the grand total of......

...£1200









I'm sure they'll declare it a 'massive success'.

If 400,000 people put in 0.003 pence each...

[truehibernian]

They should get a fairly decent plasma TV for that :agree:

Don't know what they'd want that for as they don't currently have Sky operating during games or the televisions on - not in the away end anyway :agree:

Be intrigued to know what proof Hearts showed the SPL regards payment of October wages as well - I'm hearing that it was considerably over the 'paid in days' claim - over 3 weeks late I am hearing (for 6 players and 3 coaching staff)

[hibs0666]

I believe that the mad one has had his basketball stadium seized by the bank........ :wink:

Ooops, that is not what I thought it was.... But the link below will more that make up for my mistake :-)


https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=528504&messageId=650056

It's ok cos the bank is owned by mad king bamboo and he is just seizing the assets from himself. Nothing to see here It's just what mad king bambos do.

[Lix]

What does this mean?

The UBIG website suggests they have a 'real estate project' called ZALGIRIS Arena....:hmmm:

coincidence?

timing is interesting... Long thought UBIG have been borrowing from Ukio to lend to Hearts... Could it be Ukio are having to start calling in the security on the loans? :confused:

Seems the upcoming Basel III regulations are causing banking regulators Europe wide to be more heavy handed with their banks... Ukio have one borrower who is 24.99% of their lending (max allowed is 25%).
dunno who it is, but it comes to about £20m I think?!

[Golden Bear]

Remember the £1200 is just made up of small donations from Kickback fuds.

Individual "investors" will buy their own "shares".

An excellent turn of phrase!


:hilarious

[Mikey]

Remember the £1200 is just made up of small donations from Kickback fuds.

Individual "investors" will buy their own "shares".

hibs.net users raised more than that for Kicks For Kids tickets, plus another £1000 or so for player sponsorships.

Maybe we should have a whip round for them and show them how it's done :tee hee:

[iwasthere1972]

Robbo Speaks Shares.

http://www.youtube.com/watch?feature=player_embedded&v=PB_Hh_DkPnA#!

Must have some in Greggs.

[Saorsa]

hibs.net users raised more than that for Kicks For Kids tickets, plus another £1000 or so for player sponsorships.

Maybe we should have a whip round for them and show them how it's done :tee hee:I wouldnae gie them the steam off one of these :greengrin

http://www.rooshvforum.com/attachment.php?aid=7135

[TrinityHibs]

The UBIG website suggests they have a 'real estate project' called ZALGIRIS Arena....:hmmm:

coincidence?

timing is interesting... Long thought UBIG have been borrowing from Ukio to lend to Hearts... Could it be Ukio are having to start calling in the security on the loans? :confused:

Seems the upcoming Basel III regulations are causing banking regulators Europe wide to be more heavy handed with their banks... Ukio have one borrower who is 24.99% of their lending (max allowed is 25%).
dunno who it is, but it comes to about £20m I think?!

Is that Lith speak for Zal's Giro?

[SunshineOnLeith]

I'm not suggesting anything, but I had the misfortune of being in the Gorgie Suite today, and the heating is 'broken' :rolleyes:

Absolutely Baltic in there!

[Jack Hackett]

I'm not suggesting anything, but I had the misfortune of being in the Gorgie Suite today, and the heating is 'broken' :rolleyes:

Absolutely Baltic in there!

Did you no have a lighter and a can of petrol with you to help them out?

[#FromTheCapital]

I'm not suggesting anything, but I had the misfortune of being in the Gorgie Suite today, and the heating is 'broken' :rolleyes:

Absolutely Baltic in there!

The £1200 raised on brokeback should cover the repair bill!

[Saorsa]

The £1200 raised on brokeback should cover the repair bill!I dinnae think it's needing repaired :wink: might help with the gas bill though :greengrin

[Seveno]

would yamaquidation not be better/more painful for them :hmmm:

Is the person that puts a business into yamaquidation, a yambuster ?

[cocopops1875]

Won't their savior Skacel step in and donate the full amount, like he "allegedly" did for their cup final display?

was that S**te flag no meant to have cost £15,000 ? bet they wished the had just bought shares with that :greengrin

[Www1875hfc]

I'm not suggesting anything, but I had the misfortune of being in the Gorgie Suite today, and the heating is 'broken' :rolleyes:

Absolutely Baltic in there!

I'm not suggesting anything either,but i think the wishes of all Hibs fans will come true very shortly.

[Leithenhibby]

I'm not suggesting anything, but I had the misfortune of being in the Gorgie Suite today, and the heating is 'broken' :rolleyes:

Absolutely Baltic in there!

You got to wonder though :greengrin

[HibbyAndy]

I'm not suggesting anything either,but i think the wishes of all Hibs fans will come true very shortly.

:agree:

Its happening Wullie eh?....It really is near the end.

[greenginger]

I'm not suggesting anything, but I had the misfortune of being in the Gorgie Suite today, and the heating is 'broken' :rolleyes:

Absolutely Baltic in there!


And, pray tell, What were you doing in there ?

Are you a boiler repair man ? :greengrin

[VickMackie]

"The club is in serious, serious trouble."


As they would say over on brokeback....




http://oi49.tinypic.com/mr4abc.jpg

Please don't start with these on this site.

When I've looked on boakback this type of crap is all you see and makes the site unreadable.

[iwasthere1972]

:agree:

Its happening Wullie eh?....It really is near the end.

:agree:

http://kimissecret.files.wordpress.com/2012/05/nigh-i-tell-you-nigh.jpg

[Saorsa]

:agree:

http://kimissecret.files.wordpress.com/2012/05/nigh-i-tell-you-nigh.jpghttp://www.martinfrost.ws/htmlfiles/june2008/fat_lady_sings.jpg

[Just Alf]

And, pray tell, What were you doing in there ?

Are you a boiler repair man ? :greengrin

Nah.... He's the meter reader :D

[HibbyAndy]

:agree:

http://kimissecret.files.wordpress.com/2012/05/nigh-i-tell-you-nigh.jpg



It's no far away Rab:agree:


Matter of time... Ive waited what feels a lifetime for this, its now unraveling nicely:cb

[cocopops1875]

It's no far away Rab:agree:


Matter of time... Ive waited what feels a lifetime for this, its now unraveling nicely:cb

loving your enthusiasim Andy :thumbsup:

[greenginger]

http://www.hmfckickback.co.uk/index.php?/topic/119948-leaving-tynecastle/


Just had a brief shifty over on Kickback. Check out the above thread, an amazing outbreak of realism over at the pink palace.

I think the majority know they are up *****creek, you can almost start to feel sorry for them. :greengrin

Na, thats going too far ! :greengrin

[mikey987654321]

Maybe the 1.7 million is the rough shortfall for the next 3 months wages. This would see them maybe through until the end of january in the hope of dramatically reducing the wage budget ie having no one except their youngsters.

Obviously only speculating (and hoping :p) but i think the numbers may roughly line up.

[iwasthere1972]

http://www.hmfckickback.co.uk/index.php?/topic/119948-leaving-tynecastle/


Just had a brief shifty over on Kickback. Check out the above thread, an amazing outbreak of realism over at the pink palace.

I think the majority know they are up *****creek, you can almost start to feel sorry for them. :greengrin

Na, thats going too far ! :greengrin

Love this one

The simple facts are we are on our own and will have to do the best we can with what we have and what we can generate. Even if that means renaming Tynecastle the Wonga Stadium or something else as equally tacky for a few years to earn some extra dosh.

I don't think that even Wonga would want their name attached to that dump. Even they have principals.

[Minder]

When they die, suggest someone somewhere sells green poppies. And on the day of death forever more we could mark their passing.

[Saorsa]

http://www.hmfckickback.co.uk/index.php?/topic/119948-leaving-tynecastle/


Just had a brief shifty over on Kickback. Check out the above thread, an amazing outbreak of realism over at the pink palace.

I think the majority know they are up *****creek, you can almost start to feel sorry for them. :greengrin

Na, thats going too far ! :greengrin:faf: :faf:

[Mon Dieu4]

they will always have WWI

[Minder]

the will always have WWI


plus WWII,Korea and the Falklands.

[Kato]

http://www.hmfckickback.co.uk/index.php?/topic/119948-leaving-tynecastle/




some jambo wrote:

I appreciate the Main Stand is showing it's age but in no way is it as bad as it's made out to be.


Blindly in denial some of them.

[Www1875hfc]

:agree:

http://kimissecret.files.wordpress.com/2012/05/nigh-i-tell-you-nigh.jpg

:aok:

Maybe DD can add some photoshop to that. :greengrin

[hibs0666]

some jambo wrote:

I appreciate the Main Stand is showing it's age but in no way is it as bad as it's made out to be.


Blindly in denial some of them.

If you like a bit of 20's retro chic, can see the art of nature in asbestos and don't mind the occasional shard of rusted corrugated iron sheeting embedded in your napper then that stand might in fact be considered a thing of beauty.

[green glory]

plus WWII,Korea and the Falklands.

Once Sturmbannführer Mackay sells his Iron Crosses this whole sorry episode will just be a memory.

[iwasthere1972]

some jambo wrote:

I appreciate the Main Stand is showing it's age but in no way is it as bad as it's made out to be.


Blindly in denial some of them.

:faf: :faf: :faf:

The last time they made any alterations to that stand was a couple of winters ago when heavy snow landed on the roof and caused £20,000 of improvements. Hope this winter and the gale force winds don't improve it anymore.

[Springbank]

Once Sturmbannführer Mackay sells his Iron Crosses this whole sorry episode will just be a memory.

Now now :tsk tsk:

You know fine and well that Medals MacKay hasn't got a gong to his name.

Asking him to sell his medals is a truly low blow, havent these Jambos suffered enough :cb

:flag::flag:HIBEES!!!!:flag::flag:

[Minder]

Now now :tsk tsk:

You know fine and well that Medals MacKay hasn't got a gong to his name.

Asking him to sell his medals is a truly low blow, havent these Jambos suffered enough :cb

:flag::flag:HIBEES!!!!:flag::flag:


Does he not have runners up medals from 86? :greengrin

[green glory]

Does he not have runners up medals from 86? :greengrin

Nah you're thinking about his runners up medal at Stalingrad, for services to the master race.

[Springbank]

Does he not have runners up medals from 86? :greengrin

oh I forgot the runners up medals, that being the era of Jambos revelling / wallowing in some "always the bridesmaid" cruddy banter.

To 86 you can add 96 (where they got humped 5-1, though not too many of them seem to remember that)

[Hibercelona]

Please don't start with these on this site.

When I've looked on boakback this type of crap is all you see and makes the site unreadable.

I was taking the piss. Dinne greet about it. :rolleyes:

[SteveHFC]

I was taking the piss. Dinne greet about it. :rolleyes:

:aok:

[sambajustice]

:agree:

Its happening Wullie eh?....It really is near the end.


As the Proclaimers would say...


"...Its over and done with, its over and done with, its over, its over, its over and done with..." :singing: :rockin: :party:

[Soldiersteve]

http://www.hibs.net/images/hibsnet/misc/quote_icon.png Originally Posted by Mon Dieu4http://www.hibs.net/images/hibsnet/buttons/viewpost-right.png (http://www.hibs.net/showthread.php?p=3401323#post3401323)This quote is hidden because you are ignoring (http://www.hibs.net/profile.php?do=ignorelist) this member. Show Quote (http://www.hibs.net/javascript%3Cb%3E%3C/b%3E://)
the will always have WWI

plus WWII,Korea and the Falklands.

They also won Gulf 1 on their own when they and "Stormin Norman" got Sadam Hussein to surreder in 1991........

"Lest We Forget"

[Pedantic_Hibee]

Lolling all over the world. Sometime soon I'm gonna fire up the laptop and have a rant about these c****s. once I've stopped laughing that is. :fenlon

[Col2]

Lolling all over the world. Sometime soon I'm gonna fire up the laptop and have a rant about these c****s. once I've stopped laughing that is. :fenlon

Almost 1600 posts on a 50+ page thread and yet it's just missing something before THE END.....now we know what it is....:not worth:wink::jmcp::fenlon

[WarringtonHibee]

"We're a small Scottish football club..."

I thought they were a BIG team?! :faf:

:fenlon

[R'Albin]

Lolling all over the world. Sometime soon I'm gonna fire up the laptop and have a rant about these c****s. once I've stopped laughing that is. :fenlon

:I'm waiti

[The_Exile]

Hearing the media manager/director at Tynecastle told not to turn up tomorrow.

[greenginger]

Hearing the media manager/director at Tynecastle told not to turn up tomorrow.


Who he ? :confused:

[The_Exile]

Nae idea, not even sure of it's significance if true TBH.

[CB_NO3]

I know someone who works for the scotsman and she claims there is a liquidation story getting printed today. Dont know if its a begging story from the yams saying buy shares or else but she thinks its serious. Dont know what to make of it.

[Booked4Being-Ugly]

This is the end
My only friend, the end
It hurts to set you free
But you'll never follow me
The end of laughter and soft lies
The end of nights we tried to die
This is the end!

:singing:

[HUTCHYHIBBY]

And now the end is near...

[Spike Mandela]

I know someone who works for the scotsman and she claims there is a liquidation story getting printed today. Dont know if its a begging story from the yams saying buy shares or else but she thinks its serious. Dont know what to make of it.

Is it not just this PR piffle...........

http://www.scotsman.com/sport/football/spl/john-robertson-says-hearts-may-go-bust-if-shares-fail-1-2617943

[CB_NO3]

Is it not just this PR piffle...........

http://www.scotsman.com/sport/football/spl/john-robertson-says-hearts-may-go-bust-if-shares-fail-1-2617943
Possibly, but the way she was talking about it, it seemed more serious. Suppose time will tell.

[edinburghhibee]

Oh come on put us (and them I suppose) out our misery I'm just choking to release these balloons and party poppers into gorgie road :D

[silverhibee]

are the yams going in to administration today, got a text tonight and seems they are in deep doo doo.

Will we even get the chance to play them again.

F*** the h*****


RIP

[Minder]

are the yams going in to administration today, got a text tonight and seems they are in deep doo doo.

Will we even get the chance to play them again.

F*** the h*****


RIP

if not, open up the Stadium on the 2nd anyway - party time.

:flag:

[Spike Mandela]

are the yams going in to administration today, got a text tonight and seems they are in deep doo doo.

Will we even get the chance to play them again.

F*** the h*****


RIP

Depends who the text is from.:confused:................................... ....well?

[Viva_Palmeiras]

This is the end
My only friend, the end
It hurts to set you free
But you'll never follow me
The end of laughter and soft lies
The end of nights we tried to die
This is the end!

:singing:

The killer woke at Dawn
He put his boots on
And he walked on down the hall...

[alnewhaven]

The killer woke at Dawn
He put his boots on
And he walked on down the hall...

"Jambos"
"Yes vlad....."
"I want to kill you"

[StevieC]

I'm not suggesting anything either,but i think the wishes of all Hibs fans will come true very shortly.

My personal thoughts are that nothing will happen until they've had the opportunity to get as much as they can from the share issue.

[VickMackie]

I was taking the piss. Dinne greet about it. :rolleyes:

I know. The tone I meant it in didn't come across. It was patronising to the yams.

[Saorsa]

I know someone who works for the scotsman and she claims there is a liquidation story getting printed today. Dont know if its a begging story from the yams saying buy shares or else but she thinks its serious. Dont know what to make of it.:pray:

party time :partyhibb

[StevieC]

Is it not just this PR piffle...........

http://www.scotsman.com/sport/football/spl/john-robertson-says-hearts-may-go-bust-if-shares-fail-1-2617943

2 points ...

1. He has been told to make it clear that they need £1.78m to finish the season.

2. They say they are confident of winning the tax case.


If they need £1.78m, regardless of the tax case, then what chance do they have if they actually lose it????

[Www1875hfc]

Can we start a collection for a Hibs.net wreath ?

[matty_f]

Can we start a collection for a Hibs.net wreath ?

No. :greengrin

[StevieC]

Can we start a collection for a Hibs.net wreath ?

Are Hibs.net in trouble as well ???

[Www1875hfc]

No. :greengrin

Spoilsport. :na na:

Dinny tell me youve no been paid yet either. :greengrin

[Onion]

My personal thoughts are that nothing will happen until they've had the opportunity to get as much as they can from the share issue.

Looks like a smaller version of the RBS share fiasco. Hope the Regulators and Fraud Office are watching.

[green glory]

This was my favourite bit:

'We don’t know the big picture from Vladimir'.

[Www1875hfc]

:pray:

party time :partyhibb

Wonder how they will take the news over the road?

Could we see scenes like 86?

[matty_f]

Spoilsport. :na na:

Dinny tell me youve no been paid yet either. :greengrin

I'm meant to get paid??!!




Petrie!!!!!

[green glory]

Incredibly there's only a couple of posts on Brokeback this morning about this. I don't suppose they're shrieking with glee the same way we are though.

Maroonsevco, the countdown has begun.

[poolman]

Really hope your right but i wish they'd hurry up and get on with it. When do these shares that they're relying on go on sale? how long till we get an indication if they've been a success or not?

From the few jambos i've spoken to and the general mood of there fans that i can make out it sounds like it's going to be a massive flop, if that's the case could it be curtains before December?



There was some chief supporter yam in the paper last week praising the club for their honesty and transparacy :tee hee:


Dont think it would surprise anybody

They're asking people to hand over money to them, and that's what it is , a hand out with Christmas coming up when most people have to watch the pennies as it is

Yameconomics :rolleyes:

[Craig_in_Prague]

Dont think it would surprise anybody

They're asking people to hand over money to them, and that's what it is , a hand out with Christmas coming up when most people have to watch the pennies as it is

Yameconomics :rolleyes:


LOL

"My oldest boy told me he didn’t want money for Christmas, he wanted Hearts shares instead, because he wanted to do his bit. It’s great. I was very happy when he said that, because it showed that he’s got a wee bit of appetite in it as well"

Don't know how old he is, but all his pals will be enjoying a PS3, or the new PES or FIFA games, whilst mini robbo will have shares that are as much value as your next *****.

Oh poor we pinkoids.

PMSL

[poolman]

http://www.hmfckickback.co.uk/index.php?/topic/119948-leaving-tynecastle/


Just had a brief shifty over on Kickback. Check out the above thread, an amazing outbreak of realism over at the pink palace.

I think the majority know they are up *****creek, you can almost start to feel sorry for them. :greengrin

Na, thats going too far ! :greengrin

Loved this bit from one of our pink pals

will have to do the best we can with what we have and what we can generate. Even if that means renaming Tynecastle the Wonga Stadium or something else


:faf:

[green glory]

Loved this bit from one of our pink pals

will have to do the best we can with what we have and what we can generate. Even if that means renaming Tynecastle the Wonga Stadium or something else

:faf:

I think they'll be renaming it Tesco.

[PatHead]

To paraphrase President Obama- The best is yet to come!

[Newry Hibs]

Incredibly there's only a couple of posts on Brokeback this morning about this. I don't suppose they're shrieking with glee the same way we are though.

Maroonsevco, the countdown has begun.

Just read thru' all the posts since yesterday evening ... Have I missed something, other than an increased sense of optimism???

[Ozyhibby]

Just read thru' all the posts since yesterday evening ... Have I missed something, other than an increased sense of optimism???

That's exactly what I was thinking. What does everybody think is going to happen today?

[DaveF]

That's exactly what I was thinking. What does everybody think is going to happen today?

Probably nothing, except maybe another PR plea from the yam top brass.

I await to be proved wrong though.....

[blackpoolhibs]

You know whats the funniest thing in all this? Its the pinkoid support, they are the lamest fans out there by a country mile. :greengrin

They have kicked a few hats around, borrowed a tent for the weekend and that about sums up their protests against their club going down the plughole. :faf:

You just know we Hibernian FC would have the club out of the hands of this hero, if we'd have been the club mad vlad had bought. :yw:

Although we also know we'd never have sold it in the first place to him. :hibees

[green glory]

That's exactly what I was thinking. What does everybody think is going to happen today?

I was referring to today's Scotsman story where Bumguts Blobbo appeals to the fans to support the share issue.

"Because if the club can't get very, very close to the full subscription then they're going to struggle to see out the end of the season."

"It is very, very grave". :devil:


They're now openly talking about administration or liquidation coming very soon too. :cb

[Mon Dieu4]

could Vlad potentially wait until the share issue is over, then go into admin etc and have their pennies sat about waiting to be paid out to creditors? if its possible id seriously love him to properly screw them over like that

[green glory]

could Vlad potentially wait until the share issue is over, then go into admin etc and have their pennies sat about waiting to be paid out to creditors? if its possible id seriously love him to properly screw them over like that


Vlad is the main creditor, so if admin happens he'd have to agree a CVA with himself, so it's likely they'd go straight to liquidation. :wink:

[Mon Dieu4]

Vlad is the main creditor, so if admin happens he'd have to agree a CVA with himself, so it's likely they'd go straight to liquidation. :wink:

cheers, either way i want him to take their cash and run

[Caversham Green]

could Vlad potentially wait until the share issue is over, then go into admin etc and have their pennies sat about waiting to be paid out to creditors? if its possible id seriously love him to properly screw them over like that

Here's a reply I prepared earlier.


Right, I'll say to start with that this is food for thought rather what I think is going to happen, but...

The key is the rule about directors personal liability for trading while insolvent. The rule is that the directors could become personally liable for any costs incurred when they knew the company to be insolvent. The tax case would would fall outside that rule because it's not a cost that was incurred during the insolvent period and the proceeds of the share issue would also escape because it's not a cost, it's an attempt to raise capital. Hold those thoughts.

Fuddytoerag said in an interview that the share proceeds would not be used to pay the tax bill and that they would seek alternative funding. It has also been said (I think in the share brochure) that all other attempts to find alternative funding have been exhausted. So, if they lose the tax case they can claim to have no option but to effect an insolvency event - they can't continue to trade because they would be incurring extra costs and the funding they were previously depending on has been stopped.

That means UBIG stand to take everything that can be raised from a liquidation because their debt is greater than the total liquidation value. However, that value will have been increased by whatever the share issue raises so UBIG gain slightly more than they would have done previously. The timing fits almost perfectly and I can't see that any fraud could be proven - whether the share proceeds would be worth it is debatable.

As I say, food for thought.

I don't think it's what will happen, but it seems feasible to me - the share issue might pay the liquidator's fees.

[CentreLine]

Vlad is the main creditor, so if admin happens he'd have to agree a CVA with himself, so it's likely they'd go straight to liquidation. :wink:

Will Vlad want an Aministrator to see his books? Can there be an Administration if he does not and therefore can there be the prospect of a CVA?
Similarly, if hahahahahearts are going to contest the tax case the onus is on them to disporove the case presented by the tax man. Can they have any prospect of doing that without Vlad opening his books and revealing what is behind the smoke and mirrors?

Interesting few weeks ahead me thinks

[green glory]

http://www.hmfckickback.co.uk/index.php?/topic/119817-hearts-may-well-be-gubbed-by-christmas/page__st__350#entry3230098

Some interesting posts towards the end if the page. Various people independently getting info about them possibly going into administration TODAY.

Got to hand it to them, the Sevco fiasco has at least opened their eyes.

I'll not get too excited until we hear something more concrete.

The game's not over till the fat striker ****s his maroon nappy.

[EskbankHibby]

could Vlad potentially wait until the share issue is over, then go into admin etc and have their pennies sat about waiting to be paid out to creditors? if its possible id seriously love him to properly screw them over like that

This is the bit that i find particularly odd about their fanbase. It would appear that there are still Hearts fans around who actually think that Romanov is acting in the best interests of the club.

Front pocket or back pocket this cash is going to him, make no mistake about that. The increasingly desperate raking up of former Hearts heroes (i fully expect to see Craig Thomson with brochure in hand soon) to flog this dead pink horse is tragically pathetic.

At a time when their support should be galvanising for a very difficult time ahead there are huge divisions between the few realists and the Romanov Boaby Takers.

[Steve20]

Would they not wait until they see how this share issue goes before going into administration?

I have absolutely no idea about this sort of stuff, so was just wondering.

[Kato]

http://www.hmfckickback.co.uk/index.php?/topic/119817-hearts-may-well-be-gubbed-by-christmas/page__st__350#entry3230098



soem jambo wrote

WTF - Why wouldn't we see the end of this week?! What the hell is going on?!?

Where has this guy been the last few years?

[Part/Time Supporter]

Would they not wait until they see how this share issue goes before going into administration?

I have absolutely no idea about this sort of stuff, so was just wondering.

If someone is demanding cash to the extent of going to court and they are unable to pay, they would be forced into administration or liquidation (depending on what the petitioner demands). Share issue wouldn't be relevant in that case.

[Steve20]

If someone is demanding cash to the extent of going to court and they are unable to pay, they would be forced into administration or liquidation (depending on what the petitioner demands). Share issue wouldn't be relevant in that case.

Cheers. Fingers crossed they're in administration soon then. :greengrin

[s.a.m]

Here's a reply I prepared earlier.



I don't think it's what will happen, but it seems feasible to me - the share issue might pay the liquidator's fees.

I'm almost certainly completely missing the point here, but does he have to go through either of these official processes? Could he not just sell the ground from under them, pay off the tax bill, and keep whatever is left to put towards their debt to himself, and leave the football authorities to sort out the mess? Does he need to pay a liquidator?

[Part/Time Supporter]

Cheers. Fingers crossed they're in administration soon then. :greengrin

Have to say my wager (if bookies took such bets) would be on today's rumour being a false alarm. But unless they generate significant income / "investment" from somewhere they won't get to the end of the season. They've essentially used most of this season's revenue (season book sales, the Liverpool game) to pay off last season's unpaid bills.

[Caversham Green]

I'm almost certainly completely missing the point here, but does he have to go through either of these official processes? Could he not just sell the ground from under them, pay off the tax bill, and keep whatever is left to put towards their debt to himself, and leave the football authorities to sort out the mess? Does he need to pay a liquidator?

Yes, he would need to pay a liquidator to close the company down and make sure that the proceeds of liquidation are distributed properly. It probably wouldn't be very complicated because all the assets are covered by his securities, so the fees probably wouldn't be very high. On the other hand administration would probably be a waste of time and money (although I maintain it would actually be a good thing in the long run for the club itself).

[s.a.m]

Yes, he would need to pay a liquidator to close the company down and make sure that the proceeds of liquidation are distributed properly. It probably wouldn't be very complicated because all the assets are covered by his securities, so the fees probably wouldn't be very high. On the other hand administration would probably be a waste of time and money (although I maintain it would actually be a good thing in the long run for the club itself).

:aok:

[YehButNoBut]

It's interesting when you read what happened to FC Partizan who were funded by Vlad until earlier this year, looks like a similar thing is about to happen to Hearts.

In early 2012 the club was abandoned by their main sponsor Vladimir Romanov (http://www.hibs.net/wiki/Vladimir_Romanov) and consequently wasn't able to keep any of the first team players or obtain the Premier League license.[2] (http://www.hibs.net/#cite_note-1) Partizan withdrew from the Premier League, leaving it with only 11 teams.[3] (http://www.hibs.net/#cite_note-2) As of March 2012 the club is struggling to join Second League (http://www.hibs.net/wiki/Belarusian_Second_League) for the upcoming season. Due to problems with license Partizan Minsk was not able to take part in Second League (http://www.hibs.net/wiki/Belarusian_Second_League). Currently the team is playing in Third League (http://www.hibs.net/w/index.php?title=Belarusian_Third_League&action=edit&redlink=1) which is known as Championship of Minsk city

[green glory]

It's interesting when you read what happened to FC Partizan who were funded by Vlad until earlier this year, looks like a similar thing is about to happen to Hearts.

In early 2012 the club was abandoned by their main sponsor Vladimir Romanov (http://www.hibs.net/wiki/Vladimir_Romanov) and consequently wasn't able to keep any of the first team players or obtain the Premier League license.[2] (http://www.hibs.net/#cite_note-1) Partizan withdrew from the Premier League, leaving it with only 11 teams.[3] (http://www.hibs.net/#cite_note-2) As of March 2012 the club is struggling to join Second League (http://www.hibs.net/wiki/Belarusian_Second_League) for the upcoming season. Due to problems with license Partizan Minsk was not able to take part in Second League (http://www.hibs.net/wiki/Belarusian_Second_League). Currently the team is playing in Third League (http://www.hibs.net/w/index.php?title=Belarusian_Third_League&action=edit&redlink=1) which is known as Championship of Minsk city

If he's callous enough to do this to Partizan he's callous enough to do it to Hearts.

[Sergey]

If he's callous enough to do this to Partizan he's callous enough to do it to Hearts.

He also did it with FBK Kaunas :agree:

[bingo70]

Has anyone got todays evening news yet? Hearing they might be running with story of big cut backs at hearts although pressumably it won't be from the playing staff.

[Twa Cairpets]

Incredibly there's only a couple of posts on Brokeback this morning about this. I don't suppose they're shrieking with glee the same way we are though.

Maroonsevco, the countdown has begun.

It staggers me that there is so little on ostrichheidback about this. A few threads, which descend into name calling and accusations of being a hobo if you're not on message after a few pages, then nowt.

I think they've given up.

Gut feel - a thousand or so of them burn their kids christmas money, raise maybe a couple of hundred thousand at most.

Then they die.

And they know it too.

(When they do die, it'd be nice to see Le Chat explode with rage and bile. He is a genuinely execrable creature).

[Onion]

http://www.hmfckickback.co.uk/index.php?/topic/119817-hearts-may-well-be-gubbed-by-christmas/page__st__350#entry3230098

Some interesting posts towards the end if the page. Various people independently getting info about them possibly going into administration TODAY.

Got to hand it to them, the Sevco fiasco has at least opened their eyes.

I'll not get too excited until we hear something more concrete.

The game's not over till the fat striker ****s his maroon nappy.

As soon as Hun FC went bust owing £134M and came out the other end debt free with all their assets, this became the obvious blue-print for Yam FC. Ok, they'll end up in the lower Divs with their brother huns, but will quickly find people (like the EDC and local business men) to invest in them. They'll keep the Pick Bus Shelter, shed a few high earners, screw over the tax man (ie us) and scurry in the 3rd Div to avoid us pumping them for the next few years.

[steviehibsleith]

Has anyone got todays evening news yet? Hearing they might be running with story of big cut backs at hearts although pressumably it won't be from the playing staff.

Although this makes me happy to see the demise across the city I am genuinely sorry to hear about cutbacks as right now it wont be the players (who gladly can gtf)because of thier contracts but just the normal folk who deal with day to day running and are not all yams just doing a job.

[CentreLine]

I just can't wish for hahahahahearts to disappear. Right now we are all anticipating and looking forward to our date with destiny on 2nd December followed by the 40th Anniversary of the greatest game in history.

Just exactly what are we going to do for the BIG game of our season in future. Lets get real about this. The total demise of hahahahahhearts would be a bad thing for them and us.

[Dr Jimmy]

Yes, he would need to pay a liquidator to close the company down and make sure that the proceeds of liquidation are distributed properly. It probably wouldn't be very complicated because all the assets are covered by his securities, so the fees probably wouldn't be very high. On the other hand administration would probably be a waste of time and money (although I maintain it would actually be a good thing in the long run for the club itself).

If he shut the club and liquidated the assets, would he have to pay all the staff (inc players) redundancy money?

[hibIBZ]

correct me if i am wrong but did hibs not do a similar thing with selling shares to fans in the 80s? im guessing it didnt work as the club had financial problems up until tom farmer stepped in. as i say im not 100% on this as i could on of been about 2 at the time but if farmer had to step in soon after is it fair to say it didnt work? can any comparisons can be made with the yams?

[Part/Time Supporter]

As soon as Hun FC went bust owing £134M and came out the other end debt free with all their assets, this became the obvious blue-print for Yam FC. Ok, they'll end up in the lower Divs with their brother huns, but will quickly find people (like the EDC and local business men) to invest in them. They'll keep the Pick Bus Shelter, shed a few high earners, screw over the tax man (ie us) and scurry in the 3rd Div to avoid us pumping them for the next few years.

That involves a lot of heroic assumptions. The risks of Hearts losing Tynecastle or being locked out of the league system (if they go bust at the wrong time) are much greater. They also don't have the same leverage as Rangers (ie let us back in or your TV contract disappears).

[Stevie Reid]

correct me if i am wrong but did hibs not do a similar thing with selling shares to fans in the 80s? im guessing it didnt work as the club had financial problems up until tom farmer stepped in. as i say im not 100% on this as i could on of been about 2 at the time but if farmer had to step in soon after is it fair to say it didnt work? can any comparisons can be made with the yams?

I was very young at the time but IIRC the share issue was extremely successful in terms of the money raised. Obviously we ended up in a very bad way but from my very limited knowledge we ended up in such a state due to the club's money being badly invested.

[hibIBZ]

I was very young at the time but IIRC the share issue was extremely successful in terms of the money raised. Obviously we ended up in a very bad way but from my very limited knowledge we ended up in such a state due to the club's money being badly invested.
as i said i have very little knowledge of what happened. was just something that was in the back of my mind

[Peevemor]

I was very young at the time but IIRC the share issue was extremely successful in terms of the money raised. Obviously we ended up in a very bad way but from my very limited knowledge we ended up in such a state due to the club's money being badly invested.

The money raised was invested in Avon Inns, a struggling hotel group forced on Duff & Gray by David Rowland. This is basically what put us in so much trouble. These shares weren't only bought by the fans but also by financial institutions - these are the shares that were eventually bought up in dribs and drabs during the Hands off Hibs campaign.

[YehButNoBut]

I was very young at the time but IIRC the share issue was extremely successful in terms of the money raised. Obviously we ended up in a very bad way but from my very limited knowledge we ended up in such a state due to the club's money being badly invested.

Is this what you mean here, can remember them investing in a hotel group at the time, don't think it was a wise investment. :rolleyes:

http://www.heraldscotland.com/sport/spl/aberdeen/chairman-reveals-how-he-won-control-of-hibs-1.600865

It was another of Mr Rowland's companies, Monaco, that lent Mr Duff's Highmace Ltd the original £800,000. This was paid back, with interest at commercial rates, when Hibs plc went public. Fans bought 62.5% of the available shares at that time, and £2m was raised for the new company. Since then, Hibs -- who were looking for new investments in the leisure business -- had the ''great good fortune'' to hear about a chain of hotels and wine bars in the South-west of England.

They bought the company, Avon Inns, for £4m in cash and about £1.6m worth of Hibs shares. The money was raised by a rights issue and Avon Inns were on the books of one of Mr Rowland's companies, Inoco, as a non-performing loan. Asked about the transaction, Mr Duff tells Hume that he saw it as ''a cheap deal that could make us money -- one that could bring us income and, if we decided to capitalise on any of these units, would make us a profit''. He would ''go to Timbuktu'' to do this for Hibs.

[jdships]

correct me if i am wrong but did hibs not do a similar thing with selling shares to fans in the 80s? im guessing it didnt work as the club had financial problems up until tom farmer stepped in. as i say im not 100% on this as i could on of been about 2 at the time but if farmer had to step in soon after is it fair to say it didnt work? can any comparisons can be made with the yams?


Quite correct .
Back in the dark days of Duff & Gray my son and I bought shares in the club.
With the melt down they became worthless due to the money raised being badly invested.
Appeared to be a great idea at the time but it turned out to be a case of the 'heart ruling the head ' :rolleyes:

:flag:

[#FromTheCapital]

Hurry up and die!!!!!!!!!!!!!!!!!!!!!

[Stevie Reid]

as i said i have very little knowledge of what happened. was just something that was in the back of my mind

Of course. Very different in terms of what was offered and the money raised though. We did the share issue, which was successful and raised a lot of money; we then got in a bad way - Hearts are in dire straits and are offering shares with no value in a desperate bid to keep themselves alive.

[Caversham Green]

If he shut the club and liquidated the assets, would he have to pay all the staff (inc players) redundancy money?

No, the ranking is Liquidators fees (otherwise no-one would take the job); creditors with a fixed charge; unpaid wages (not redundancy); creditors with a floating charge; the rest. I believe statutory redundancy can still be claimed from the government, so Vlad would be screwing us all over a bit.

[Golden Bear]

The money raised was invested in Avon Inns, a struggling hotel group forced on Duff & Gray by David Rowland. This is basically what put us in so much trouble. These shares weren't only bought by the fans but also by financial institutions - these are the shares that were eventually bought up in dribs and drabs during the Hands off Hibs campaign.

Many fans including myself purchased shares purely with the objective of stopping WM acquiring a controlling interest in the Club. However it was only when a big player like Sir Tom entered the arena that the Walnut's devious plan was put to rest.

[hibIBZ]

somehow i dont see a yam equivalent of sir tom materialising anytine soon

[degenerated]

this was in the edinburgh gazette today


Date: 6 November 2012 Issue Number: 27169 Page number: 3046


Publication Date: Tuesday, 6 November 2012

Notice Code: 2450

Petitions to Wind Up (Companies)

HEART OF MIDLOTHIAN PLC

On 1 November 2012, a petition was presented to the Court of Session by the Advocate General for Scotland for and on behalf of the Commissioners for Her Majesty’s Revenue and Customs craving the Court inter alia to order that Heart of Midlothian Plc, Tynecastle Stadium, Gorgie Road, Edinburgh EH11 2NL (registered office) be wound up by the Court and to appoint a liquidator. Any person who intends to appear in the petition must lodge Answers with the Court of Session, 2 Parliament Square, Edinburgh within 8 days of intimation, service and advertisement.

[Heedersnvolleys]

That involves a lot of heroic assumptions. The risks of Hearts losing Tynecastle or being locked out of the league system (if they go bust at the wrong time) are much greater. They also don't have the same leverage as Rangers (ie let us back in or your TV contract disappears).

Surely even the shambolic SFA/SPL/SFL would have to be seen to treat the next club to get in trouble the same way! ;-)

[Eric]

this was in the edinburgh gazette today

Also on P47 of today's Scotsman.

[Part/Time Supporter]

this was in the edinburgh gazette today

We've seen this before, but that was when Romanov was still paying the bills.

A link for any disbelievers:

http://www.edinburgh-gazette.co.uk/issues/27169/notices/31/all=heart+of+midlothian

[CropleyWasGod]

this was in the edinburgh gazette today

In layman's terms, they haven't paid their PAYE/VAT. They have until the 14th to defend the action, otherwise the Court will approve the application and order their liquidation.

[green glory]

In layman's terms, they haven't paid their PAYE/VAT. They have until the 14th to defend the action, otherwise the Court will approve the application and order their liquidation.

This would at least lend some weight to the 'by the end if the week' rumours going around.

Is this order related to the 1.75m tax case?

[Part/Time Supporter]

This would at least lend some weight to the 'by the end if the week' rumours going around.

Is this order related to the 1.75m tax case?

No. HMRC can't pursue that until if and when the Tribunal rules in their favour. This action will be for normal monthly PAYE and/or VAT payments.

[CropleyWasGod]

This would at least lend some weight to the 'by the end if the week' rumours going around.

Is this order related to the 1.75m tax case?

No. That has still to be decided.

It will be for PAYE and VAT debts. IIRC, there was an agreement in place between HMFC and HMRC for the settlement of old debts and, presumably, ongoing ones. It is quite common for HMRC to take this sort of action if such agreements are not adhered to.

Of course, as has been said, we have been here before.

[Caversham Green]

No. That has still to be decided.

It will be for PAYE and VAT debts. IIRC, there was an agreement in place between HMFC and HMRC for the settlement of old debts and, presumably, ongoing ones. It is quite common for HMRC to take this sort of action if such agreements are not adhered to.

Of course, as has been said, we have been here before.

It's true we've been here before, but to let it happen shortly after the launch of the share offer and amid all the current publicity strikes me as astonishing mismanagement.

[CropleyWasGod]

It's true we've been here before, but to let it happen shortly after the launch of the share offer and amid all the current publicity strikes me as astonishing mismanagement.

I am guessing that they had little option. If so, then they really are running on fumes.

[Caversham Green]

I am guessing that they had little option. If so, then they really are running on fumes.

Agreed, but with a winding-up petition in place is anyone going to be bone-headed enough to buy shares? Surely even the thickest yam would hold off to see how this pans out.


OK, probably not.

PS They don't seem to have spotted this over on Keechbag yet

[cabbageandribs1875]

durty cheatin tax-dodgin VAT-dodgin yamboid grunts, and the ****s have the audacity to go around schools flashing off the spoils of their cheating ways...beggars belief it truly does :bitchy: what a horrible horrible disgusting club

[Onion]

We've seen this before, but that was when Romanov was still paying the bills.

A link for any disbelievers:

http://www.edinburgh-gazette.co.uk/issues/27169/notices/31/all=heart+of+midlothian


Nothing to see here, move along now. Any money allegedly owed by Heart of Midlothian plc is simply owed to themselves, so not a debt as you think of it in the real world. The English HMRC have no jurisdiction over the dealings of HOMO plc and their 400,000 subjects and just part of a wider Mafia within Scotland, envious of their unbeaten record in fighting Fascism and Communism since the 12th century and their Apollo Space mission which put a Hearts flag on the moon in 1969.

[Stevie Reid]

I am guessing that they had little option. If so, then they really are running on fumes.


Agreed, but with a winding-up petition in place is anyone going to be bone-headed enough to buy shares? Surely even the thickest yam would hold off to see how this pans out.


OK, probably not.


So can we at least get a wee bit excited then, chaps?

[PatHead]

Thought the SPL had brought in rules to disipline clubs who didn't pay their taxes on time. Surely another transfer embargo or points deduction must now be in order.


Petrie get round to the SPL offices and get it sorted!!!!!!!!!!!!!!!!!!!!!!!!

[jonty]

So can we at least get a wee bit excited then, chaps?
I'm still laughing at 'hearts players and manager buy shares'
http://www.heartsfc.co.uk/articles/20121107/players-purchase-shares_2241384_2972960

"We'll pay your salary if you give us it straight back" :greengrin

[Caversham Green]

So can we at least get a wee bit excited then, chaps?

Well, if they're not wound up on the back of this it's either the astonishing mismanagement I was talking about or we know where the share issue proceeds have gone. Either way it should be extremely damaging to the share issue.

[Stevie Reid]

Well, if they're not wound up on the back of this it's either the astonishing mismanagement I was talking about or we know where the share issue proceeds have gone. Either way it should be extremely damaging to the share issue.

I'm not smiling any less after reading that.

Thanks, CG :thumbsup:

[marti1875]

I'm still laughing at 'hearts players and manager buy shares'
http://www.heartsfc.co.uk/articles/20121107/players-purchase-shares_2241384_2972960

"We'll pay your salary if you give us it straight back" :greengrin

OMG....the players are even thicker than the fans...hilarious, you couldnae make it up!! :greengrin:greengrin

[YehButNoBut]

Inevitable wage cuts ahead for Hearts.............if they make it that far.

http://www.scotsman.com/sport/football/top-football-stories/hearts-to-reduce-wage-bill-to-3-5m-1-2618700

HEARTS intend to reduce their annual wage budget to £3.5million by next season, taking it down to its lowest level since Vladimir Romanov gained control.

The last set of club 
accounts showed wages at £8m for the period to June 2011 and directors want those costs cut by more than half in time for next summer.
The Evening News has learned that Hearts’ current wage bill sits around the £5m mark having been dramatically reduced since the last set of accounts was released. A number of high-earning players have left, allowing the club to operate with a smaller number of senior players.

The Tynecastle board want wages further reduced to £3.5m by the start of next season as they return to a structure similar to the one used before Romanov took control in 2005. The £3.5m figure is seen as sustainable if the club is to operate efficiently without aid from its parent company, Ukio Bankas Investment Group. As such, a number of Hearts’ current high earners in the final year of their contracts will either have to accept a reduced pay or leave in search of pastures new. Amongst those whose deals expire next June are captain Marius Zaliukas, defender Andy Webster and winger Andy Driver. A total of 14 players are out of contract next summer and Hearts are prepared to let some deals expire without offering a renewal. Those given a chance to re-sign will be offered a salary which fits in with the new budget.

Hearts have held talks with Australian internationalist 
defender Ryan McGowan, who is one of the players in the final year of his contract. To date there has been no agreement over an extension.

[Stevie Reid]

I'm still laughing at 'hearts players and manager buy shares'
http://www.heartsfc.co.uk/articles/20121107/players-purchase-shares_2241384_2972960

"We'll pay your salary if you give us it straight back" :greengrin

Ryan Stevenson led "the consortium" :fenlon

[The_Sauz]

He also did it with FBK Kaunas :agree:

I'm sure they ended up playing the 3/4 division (Amateur League) because they could not get a pro licence from UEFA :agree:

[Wee Scottie Dug]

Thought the SPL had brought in rules to disipline clubs who didn't pay their taxes on time. Surely another transfer embargo or points deduction must now be in order.


Petrie get round to the SPL offices and get it sorted!!!!!!!!!!!!!!!!!!!!!!!!

Think there is also punishment if you fail to report it to the SPL ......... double whammy ........ Sanctions time!!

:greengrin

[matty_f]

Inevitable wage cuts ahead for Hearts.............if they make it that far.

http://www.scotsman.com/sport/football/top-football-stories/hearts-to-reduce-wage-bill-to-3-5m-1-2618700

HEARTS intend to reduce their annual wage budget to £3.5million by next season, taking it down to its lowest level since Vladimir Romanov gained control.

The last set of club 
accounts showed wages at £8m for the period to June 2011 and directors want those costs cut by more than half in time for next summer.
The Evening News has learned that Hearts’ current wage bill sits around the £5m mark having been dramatically reduced since the last set of accounts was released. A number of high-earning players have left, allowing the club to operate with a smaller number of senior players.

The Tynecastle board want wages further reduced to £3.5m by the start of next season as they return to a structure similar to the one used before Romanov took control in 2005. The £3.5m figure is seen as sustainable if the club is to operate efficiently without aid from its parent company, Ukio Bankas Investment Group. As such, a number of Hearts’ current high earners in the final year of their contracts will either have to accept a reduced pay or leave in search of pastures new. Amongst those whose deals expire next June are captain Marius Zaliukas, defender Andy Webster and winger Andy Driver. A total of 14 players are out of contract next summer and Hearts are prepared to let some deals expire without offering a renewal. Those given a chance to re-sign will be offered a salary which fits in with the new budget.

Hearts have held talks with Australian internationalist 
defender Ryan McGowan, who is one of the players in the final year of his contract. To date there has been no agreement over an extension.

Did their last accounts not show that their operating costs were still more than their turnover?

If that was the case, even getting the wages down to zero would still see them losing money.







:faf::faf:

[ScottB]

So, for the layman, if they fail to turn up at court and cough up the PAYE / VAT that they owe by the end of the week, the Rev will liquidate them?

Any indication of how much it would be?


Surely even if they do manage to pay this bill, that'll wipe out the money for the wages and perhaps all of what they've collected from the share issue? I can see this share issue thing just carrying right on until they eventually collapse!

[matty_f]

Think there is also punishment if you fail to report it to the SPL ......... double whammy ........ Sanctions time!!

:greengrin

Well, I hope someone's pointed this out to the beaks at the SFA! :greengrin

[CentreLine]

In layman's terms, they haven't paid their PAYE/VAT. They have until the 14th to defend the action, otherwise the Court will approve the application and order their liquidation.

Does the 8 days start from 1st November, when the petition was lodged, or from yesterday when it was published in the Gazette?

[CentreLine]

I'm still laughing at 'hearts players and manager buy shares'
http://www.heartsfc.co.uk/articles/20121107/players-purchase-shares_2241384_2972960

"We'll pay your salary if you give us it straight back" :greengrin

What does "HYDC" stand for? Is it Help Your Dying Club?

[cabbageandribs1875]

Help
Yam
Debt
Contributions

[Jack]

Just a thought. :confused:

Mad Vlad wrings the very last drop of sap from the yams, robbos the kiddies Christmas sack – and then buggers off. I think we can be at least a tad hopeful this is his plan.

Just how will these miserable yams then raise the money to phoenix their club?

[Part/Time Supporter]

Does the 8 days start from 1st November, when the petition was lodged, or from yesterday when it was published in the Gazette?

The latter. Other creditors wouldn't be aware of the petition until it was published in the Gazette.

[WarringtonHibee]

@STVNews: Hearts face winding up order from HMRC over unpaid tax bill http://bit.ly/VSPA0n

:tee hee:

[Treadstone]

Had a look at one of the Yakback threads stopped reading after :

"Assuming the valuation of Tynie is around £17m...." :rolleyes:

[Hibs07p]

What does "HYDC" stand for? Is it Help Your Dying Club?

Hey
You
Dumb
Cants

[Sergey]

I must admit that I'm getting slightly tumescent in my nether regions right now.

[matty_f]

Right, I know we're all finding this funny, but let's think about this for a moment. We should be doing more to save Hearts.

For a start, we'll lose the :faf: derby. Also, how would we feel if Edinburgh :faf: lost it's proud :faf: Scottish Cup record just like that? Imagine the embarrassment of our friends and neighbours who are :faf: Hearts fans if their team goes pop :faf::faf:

Come on folks :faf: buy some :faf: shares.

Save :faf: Hearts! :faf:

[H18sry]

http://local.stv.tv/edinburgh/198880-hearts-face-winding-up-order-from-hmrc-over-unpaid-tax-bill/ Heart of Midlothian FC faces a winding up order from HM Revenue and Customs over an unpaid tax bill.

The tax authority presented a petition to the Court of Session in Edinburgh to place the SPL club into liquidation earlier this month.

It is understood that the Tynecastle club is facing the action from HMRC over unpaid PAYE and National Insurance dating back several months, which is separate from their ongoing troubles with the tax authority.

The latest dispute with the tax authority comes as Hearts are challenging a £1.75m bill at the First Tier Tax Tribunal relating to players loaned to the club by Lithuanian club FBK Kaunas, which is also owned by Vladimir Romanov.

HMRC presented the petition to the court on November 1 and Hearts have eight days to respond starting from this Tuesday, when the notice of the winding up order was published in the Edinburgh Gazette.

Hearts recently launched a fans’ share issue for a 10% stake in the club, which the board denies would be used to raise around £1.79m in order to pay off its tax debt.

In January, HMRC lodged a separate winding up order against Hearts with the Court of Session, which resulted in the club paying off another tax bill.

The tax authority also took similar actions in November and December last year.

[Part/Time Supporter]

So, for the layman, if they fail to turn up at court and cough up the PAYE / VAT that they owe by the end of the week, the Rev will liquidate them?

Any indication of how much it would be?


Surely even if they do manage to pay this bill, that'll wipe out the money for the wages and perhaps all of what they've collected from the share issue? I can see this share issue thing just carrying right on until they eventually collapse!

Complete guesswork follows:

STV is claiming that there is "several months" of unpaid PAYE. I guess that their PAYE bill will be about 40% of their total wage bill. Assuming the report of a £5M wage bill this season is accurate, 40% x £5M x (say) 3 months would be £600K.

[Caversham Green]

Did their last accounts not show that their operating costs were still more than their turnover?

If that was the case, even getting the wages down to zero would still see them losing money.







:faf::faf:

Correct. Turnover was £6.915m, total costs excluding wages was £7.174m.

To be fair the other costs include the write-off of the megastand costs of £1.383m which was a one-off, so that would leave them with a wages budget of £1.124m if they want to break even.

[Mikey]

Think there is also punishment if you fail to report it to the SPL ......... double whammy ........ Sanctions time!!

:greengrin

Absolutely spot on. If the SPL didn't know about this they should batter them.

[1two]

"a consortium of players led by Andrew Webster and Ryan Stevenson approached senior officials at the club and informed them that they wanted to purchase shares and help the club in its hour of need."

Ryan ****ing Stevenson?
Haha, aye, very good

[YehButNoBut]

http://local.stv.tv/edinburgh/198880-hearts-face-winding-up-order-from-hmrc-over-unpaid-tax-bill/ Heart of Midlothian FC faces a winding up order from HM Revenue and Customs over an unpaid tax bill.

The tax authority presented a petition to the Court of Session in Edinburgh to place the SPL club into liquidation earlier this month.

It is understood that the Tynecastle club is facing the action from HMRC over unpaid PAYE and National Insurance dating back several months, which is separate from their ongoing troubles with the tax authority.

The latest dispute with the tax authority comes as Hearts are challenging a £1.75m bill at the First Tier Tax Tribunal relating to players loaned to the club by Lithuanian club FBK Kaunas, which is also owned by Vladimir Romanov.

HMRC presented the petition to the court on November 1 and Hearts have eight days to respond starting from this Tuesday, when the notice of the winding up order was published in the Edinburgh Gazette.

Hearts recently launched a fans’ share issue for a 10% stake in the club, which the board denies would be used to raise around £1.79m in order to pay off its tax debt.

In January, HMRC lodged a separate winding up order against Hearts with the Court of Session, which resulted in the club paying off another tax bill.

The tax authority also took similar actions in November and December last year.

So this is an extra bill from HMRC on top of the £1.79 million they claim is due on top of the wage bill to be paid in 10 days with no income coming in via the gate before then.

Doesn't sound good for them does it. :******::titanic:

[bingo70]

Is romanov not likely to pay these tax bills so he can keep control of what happens with the debts that are due to him?

[Mikey]

Is romanov not likely to pay these tax bills so he can keep control of what happens with the debts that are due to him?

He always has in the past and that's why they're still here. The difference this time is that he's said quite clearly that he won't. I guess we'll see.............

[Hibee87]

So they are due to pay x amount 2 days before the players are due their next pay cheque?

:faf::faf::faf:

tripple sanctions coming the yambolinos way I suspect. Can only ampount to an indifinate transfer embargo AND a points deduction. not paying tax, not telling the sfa/spl about not paying tax and poss the wages for a third month in a row.

[matty_f]

"a consortium of players led by Andrew Webster and Ryan Stevenson approached senior officials at the club and informed them that they wanted to purchase shares and help the club in its hour of need."

Ryan ****ing Stevenson?
Haha, aye, very good


Is this Webster having a pang of conscience after he stiffed them to get his move to Rangers?

[Peevemor]

He always has in the past and that's why they're still here. The difference this time is that he's said quite clearly that he won't. I guess we'll see.............

Maybe he can't?

[green glory]

So they are due to pay x amount 2 days before the players are due their next pay cheque?

:faf::faf::faf:

tripple sanctions coming the yambolinos way I suspect. Can only ampount to an indifinate transfer embargo AND a points deduction. not paying tax, not telling the sfa/spl about not paying tax and poss the wages for a third month in a row.

I think transfer embargoes and point deductions are the least if their worries. Like you say this has to be sorted by Wednesday next week AND they have to pay the wages on Friday which I find it unlikely they can afford that on it's own.

Oh, and if course they might lose the tax case which is being heard this week.

WELCOME TO JAMBOGEDDON!

[Off the bar]

Wow they are triple f-ed this time, the tax man is banging them from 2 sides and the wages due soon! This is it, without a serious injection of cash and I mean a serious injection of cash 4,5,6 million they're gone by Xmas! Maybe even before we might even get a by through to the next round of the cup :greengrin

[cabbageandribs1875]

:music:Debt Debt glorious Debt


:titanic::lolyam::brokenyam:

[robinp]

I think transfer embargoes and point deductions are the least if their worries. Like you say this has to be sorted by Wednesday next week AND they have to pay the wages on Friday which I find it unlikely they can afford that on it's own.

Oh, and if course they might lose the tax case which is being heard this week.

WELCOME TO JAMBOGEDDON!

Well if the figures estimated on here are anywhere near accurate, £600k tax/NI/VAT for the last quarter, and possibly 1 month's wages (based on the STV report (5mill divided by 12)) £400k, I wonder where the necessary £1m+ is going to come from. I bet Robbo's rally cry will help..... :confused:

[Caversham Green]

Is romanov not likely to pay these tax bills so he can keep control of what happens with the debts that are due to him?

It's what I was saying about mismanagement. If they have the ability to pay either through Mr Romanov or other means, they should have moved heaven and earth to do so before a WUP was served, because this can only damage the share issue - in other circumstances I would think it would have destroyed it. If they do manage to pay it now they've either made another almighty mess of the whole thing or they're using the proceeds of the share issue to pay a long outstanding tax bill - and that was most definitely not the stated purpose of the issue.

If Mr Romanov has decided to liquidate he would be better not paying this bill because his securities mean that all the proceeds of liquidation (excluding fees) would go to UBIG, so payment of the bill would be a payment to nothing.

[Craig_in_Prague]

Wow they are triple f-ed this time, the tax man is banging them from 2 sides and the wages due soon! This is it, without a serious injection of cash and I mean a serious injection of cash 4,5,6 million they're gone by Xmas! Maybe even before we might even get a by through to the next round of the cup :greengrin

I'll take this over any small 'revenge' on the pitch!

Wouldn't May feel much better, if they went bust before playing them in the 1st match of same competition, merely 6 months later.

The future is bright, the future is green and white.
GGTTH

[Mikey]

If Mr Romanov has decided to liquidate he would be better not paying this bill because his securities mean that all the proceeds of liquidation (excluding fees) would go to UBIG, so payment of the bill would be a payment to nothing.

Are we at the point where it would be in his interest, purely financially, for that to happen?

[CRAZYHIBBY]

This is a total non story..........nothing to see people please move along.......hearts are financially secure and us stupid hobbos are deluded

[Peevemor]

Are we at the point where it would be in his interest, purely financially, for that to happen?

If he is strapped for cash and they risk going down the tubes in any case, he's as well cutting his losses now.

[Newry Hibs]

Wow they are triple f-ed this time, the tax man is banging them from 2 sides and the wages due soon! This is it, without a serious injection of cash and I mean a serious injection of cash 4,5,6 million they're gone by Xmas! Maybe even before we might even get a by through to the next round of the cup :greengrin

It would be nice to know!!! I need to look at booking flights. I suppose I could come over and visit the PBS as a kind of history lesson.

[green glory]

Are we at the point where it would be in his interest, purely financially, for that to happen?

In order to get through the next week or so Vlad would have to open his wallet again, which he he's made clear he's not prepared to do.

2 + 2 = JAMBOGEDDON.

[HUTCHYHIBBY]

"a consortium of players led by Andrew Webster and Ryan Stevenson approached senior officials at the club and informed them that they wanted to purchase shares and help the club in its hour of need."

Ryan ****ing Stevenson?
Haha, aye, very good

Professional players desperate to pay their wages to themselves shocker!

[Mikey]

Just to clarify the new rules, including dealings with HMRC......

SPL Resolutions
•Minimum of 10 points deducted from any club entering administration
•Extension of the sporting sanctions regime when SPL club's parent company enters administration
•Updates and extensions to the definition of insolvency events to track changes in insolvency law
•Requirement for clubs to pay players and HMRC on time and to report any failure to either
•Specific sanctions for clubs who fail to pay players/HMRC on time


So if they haven't reported the latest problem with HMRC they should have sanctions applied.

From here.....

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

[ScottB]

I think transfer embargoes and point deductions are the least if their worries. Like you say this has to be sorted by Wednesday next week AND they have to pay the wages on Friday which I find it unlikely they can afford that on it's own.

Oh, and if course they might lose the tax case which is being heard this week.


WELCOME TO JAMBOGEDDON!

If we end up with a by we should all go along to the stadium anyway and laugh for around 90 minutes.

Maybe we could have our first 11 play the reserves... Might be nice to give them HMRC strips ;)

[green glory]

Barry Anderson's latest piece in the EN today is utter tripe. Traynoresque comedy.

[Part/Time Supporter]

Brian McLauchlin saying the amount due is "substantial six figure sum". £600K might not be such a bad guess...


Barry Anderson's latest piece in the EN today is utter tripe. Traynoresque comedy.

Rangers News alumni. What do you expect?

[SuperTortolano]

Do you want them gone, would you miss the derby, would you like to see them suffer, or do you just not care?

[Caversham Green]

Are we at the point where it would be in his interest, purely financially, for that to happen?

We've been there for a few years now, which is why there heve been so many threads about it in the past.

HoMFC have been losing vast amounts of money since he took over. That means the debt has been building up, but their results are such that they have no chance of trading out of it and it is well in excess of the break-up value of the assets.. Their external costs need to be financed by further increasing the debt so the whole thing is just costing him money that he won't get back. The best time for him to pull the plug (in pure financial terms) would have been when the debt only just exceeded the market value of the assets. I'm genuinely surprised he carried on for as long as he has.

[Off the bar]

I'll take this over any small 'revenge' on the pitch!

Wouldn't May feel much better, if they went bust before playing them in the 1st match of same competition, merely 6 months later.

The future is bright, the future is green and white.
GGTTH

I'm not sure about that, there is no comeback from may and any derby game after May is just that but I would like the last derby memory to be us battering them senseless, and having one chance for us en masse to give it to them tight.
something along these lines would do nicely;

HM RC if you canny spell it here's what it says
Debt debt you're drowning in debt,
You're going bust on monday,
You f-ed it all up for 2 Scottish cups,
Lets all laugh at the jambos today

[Part/Time Supporter]

We've been there for a few years now, which is why there heve been so many threads about it in the past.

HoMFC have been losing vast amounts of money since he took over. That means the debt has been building up, but their results are such that they have no chance of trading out of it and it is well in excess of the break-up value of the assets.. Their external costs need to be financed by further increasing the debt so the whole thing is just costing him money that he won't get back. The best time for him to pull the plug (in pure financial terms) would have been when the debt only just exceeded the market value of the assets. I'm genuinely surprised he carried on for as long as he has.

He said when he took over that he would invest about £10 million a year for five years. In aggregate, he's actually done that. The problem is he pissed the vast majority of it away on guff players. He's carried on for two years longer than expected and then kept them on a sort of life support for the last year.

[Dave-O]

If we end up with a by we should all go along to the stadium anyway and laugh for around 90 minutes.

Maybe we could have our first 11 play the reserves... Might be nice to give them HMRC strips ;)


I'm up for that.....:agree:

and some of this....:na na:

[Dashing Bob S]

We've been there for a few years now, which is why there heve been so many threads about it in the past.

HoMFC have been losing vast amounts of money since he took over. That means the debt has been building up, but their results are such that they have no chance of trading out of it and it is well in excess of the break-up value of the assets.. Their external costs need to be financed by further increasing the debt so the whole thing is just costing him money that he won't get back. The best time for him to pull the plug (in pure financial terms) would have been when the debt only just exceeded the market value of the assets. I'm genuinely surprised he carried on for as long as he has.

That is the biggest mystery in this entire affair, and one which he will probably carry to his grave: why did get involved and STAY involved, after it was costing him money which it was evident he'd never get back?

[LeighLoyal]

Do you want them gone, would you miss the derby, would you like to see them suffer, or do you just not care?


Would prefer they stay in the spl and pay their bills by cutting back. The only club I hate is T'Rangers Sevco 5088 2012 FC .

[green glory]

#maroonsevco

#jambogeddon

Get it trending!

[ehf]

It's what I was saying about mismanagement. If they have the ability to pay either through Mr Romanov or other means, they should have moved heaven and earth to do so before a WUP was served, because this can only damage the share issue - in other circumstances I would think it would have destroyed it. If they do manage to pay it now they've either made another almighty mess of the whole thing or they're using the proceeds of the share issue to pay a long outstanding tax bill - and that was most definitely not the stated purpose of the issue.

If Mr Romanov has decided to liquidate he would be better not paying this bill because his securities mean that all the proceeds of liquidation (excluding fees) would go to UBIG, so payment of the bill would be a payment to nothing.

Spot on. Pretty sure Vlad HAS decided to liquidate, so this suits him nicely: he can blame HMRC for firing the bullet and claim he tried his best with the risible share issue, then enforce his securities to recover as much of his debt as he can. Best the deluded ones can hope for next season is Third Division football and a ground-share with Livingston.

[brog]

Not paying PAYE & VAT on time is effectively theft. Yams have already collected this money from employees & fans & instead of passing on to HMRC have used these monies to keep the dead parrot, sorry, HMFC, afloat. By the letter of the SPL law Yams are already in breach as effectively they've already failed to pay tax on time. FYI, I'm registered for VAT. When I came to do my 2nd qtly report I was aware I was actually due about £700 from HMRC so in my ignorance I didn't submit my return but intended to delay until Q3 when I would offset. Within a week or 2 of my original due date having passed I received a demand for £5k, even tho I was due money! HMRC has rightly IMO been severely criticised for not applying these same rigorous principles to sevco. I can't see them making same lenient mistake with Yams!

[PatHead]

We've been there for a few years now, which is why there heve been so many threads about it in the past.

HoMFC have been losing vast amounts of money since he took over. That means the debt has been building up, but their results are such that they have no chance of trading out of it and it is well in excess of the break-up value of the assets.. Their external costs need to be financed by further increasing the debt so the whole thing is just costing him money that he won't get back. The best time for him to pull the plug (in pure financial terms) would have been when the debt only just exceeded the market value of the assets. I'm genuinely surprised he carried on for as long as he has.

A cynic might say he was running a cleaning company over here for as long as he needed. Once the need was over he would close down the branch, pull together what was left of his assets and have nice clean stuff which was legit before returning home.

[Hovehibby]

I'd miss the derby, but if they do go down, Div 3 is about the only option. SFA set the precedent with sevco

[#FromTheCapital]

I'd like them to suffer the same fate as the dinosaurs

[Pedantic_Hibee]

Flush them.

[SteveHFC]

http://www.hmfckickb...can-it-be- done/ (http://www.hmfckickback.co.uk/index.php?/topic/119999-a-newco-hearts-is-it-the-only-option-and-can-it-be-done/)


http://www.hmfckickb...he-end-of-days/ (http://www.hmfckickback.co.uk/index.php?/topic/120000-the-end-of-days/)

http://i976.photobucket.com/albums/ae247/Mainboy/1283537441197-dumpfm-jimmyjammer-LaughingCatAnimated.gif

[Benny Brazil]

Wipe them off the face of the earth - pronto please.

[Sergey]

Now seems like a good time to roll-out my favourite ever post on the world wide web:


Originally Posted by Shaun Lawson on KB, 16-5-09
FAO our dear friends at hibs.net

Well, well, well. Hearts are going on a European tour; Hibs are staying at home as usual. Late last year, you insisted our demise was about to happen, administration and all the rest of it. Unbelievably, you're still writing thread after thread about it - but guess what? No-one's listening any more.

Tell us: what's it like to be more obsessed with your neighbours than to love your own club? Special mention here to those online graduates of the Adam Smith Institute, Heraghty's, Caversham Green and the one and only Sergey. Do any of you ever write anything about Hibs at all? It sure as heck doesn't seem that way. Oh, and inserting that naff green 'goodbye' smiley at the end of your latest bout of delusion doesn't mean your wildest fantasies (well, apart from losing your virginity at last) are about to come true!

Still, never mind. Tick tock, eh boys? Ever wondered why no-one in the national media has ever speculated in the way you constantly do? Here's a hint: it's because your dreams do not equal reality. This club will be here for as long and longer than you will; and as long as it does, you'll always be in our shadow. 108 years - and counting.

GIRFUY ya roaster!

[SteveHFC]

Now seems like a good time to roll-out my favourite ever post on the world wide web:



GIRFUY ya roaster!

:fenlon

[s.a.m]

That is the biggest mystery in this entire affair, and one which he will probably carry to his grave: why did get involved and STAY involved, after it was costing him money which it was evident he'd never get back?

Hubris?
Stupidity?

[The Harp]

Just saw a very serious looking John Mackay on the STV news headlines. First story up - the Yams uncertain future and the latest winding up order against them. The pressure on the club seems to be intensifying. Interesting days ahead.

[JeMeSouviens]

They even got the colours right. :wink:


http://www.youtube.com/watch?v=2NUQ_oa3JSU#!

[s.a.m]

BBCBMcLauchlin‏@BBCBMcLauchlin SPL have been informed by Hearts of non payment of tax. No further sanction being imposed immediately.@bbcsportsound (http://www.hibs.net/bbcsportsound)

[StevieT]

Maybe the wages won't be late this month as they aren't actually getting any money but a load of shares instead.

[VickMackie]

I'd feel bad for the ordinary people who will lose their jobs but don't care about what happens to the club.

[Mikey]

BBCBMcLauchlin‏@BBCBMcLauchlin SPL have been informed by Hearts of non payment of tax. No further sanction being imposed immediately.@bbcsportsound (http://www.hibs.net/bbcsportsound)

If that means that they've only just informed them, now that the winding up order has been made public, then the SPL should be all over Hearts.

[Spike Mandela]

Can we start a collection for a Hibs.net wreath ?

So what happens now? Vlad pays bill, Hearts pay tax and wages, Hearts just pay tax, Hearts pay neither, HMRC apply to get administrators or Vlad does a Craig whyte and gets his own in?

[Mikey]

Dundee will be very keen for Hearts to see out the season. If they disappear, and previous games are wiped, Dundee will be on 1 point :hilarious

[Spike Mandela]

Vlad on Lithuanian strictly come dancing..........


http://www.youtube.com/watch?v=TnfKmNRfLYU&feature=youtube_gdata_player

[Kato]

Dundee will be very keen for Hearts to see out the season. If they disappear, and previous games are wiped, Dundee will be on 1 point :hilarious

Wouldn't the SPL form a ghost team like the did with Gretna to fullfill Hearts fixtures?

[blackpoolhibs]

66/1 was great odds on them being relegated. some got even better. hehehe.