Share Transfers Agreed/Cooling off period

[Saorsa]

Aye we do. FoH having something tomorrow media wise, any ideas what it is ?Ian Murray is going tae announce that he's a MP :dunno:

[Treadstone]

Ian Murray is going tae announce that he's a MP :dunno:

Preposterous.

https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-ash3/524624_10151890374616562_1124300017_n.jpg

[Gus Fring]

Aye we do. FoH having something tomorrow media wise, any ideas what it is ?

Haven't heard anything. They're always trying to get the media involved, though. Barry is "on holiday" so they don't have their usual mouthpiece.

[StevieC]

BBC reporting that there are "three or four serious bidders" for Hearts

Jeez, what sort of muppets are in charge here ..

.. I mean ..

.. I could understand losing count if it were a few dozen .. but not being able to count the amount of bidders where you only need one hand (and don't even need all the fingers on it) is ridiculous!

:greengrin

[Saorsa]

Jeez, what sort of muppets are in charge here ..

.. I mean ..

.. I could understand losing count if it were a few dozen .. but not being able to count the amount of bidders where you only need one hand (and don't even need all the fingers on it) is ridiculous!

:greengrinParticularly a yam hand. :agree:

[Phil D. Rolls]

This BDO Mob are not to my liking they seem to be favouring the yams instead of looking after the creditors best interests:confused:

:hmmm: + +

:agree:

[Phil D. Rolls]

Just been reading the Lithuanian president's priorities (in the Lithuania Tribune online) now her country has become president of the EU for the next six months. Not a word abouit saving the Hearts from going into liquidation as Ian (I'm a MP) Murray would have us believe.


http://www.lithuaniatribune.com/category/eu-presidency-2/

Clearly no elections coming up in Kaunus. How else can it be explained?

[Dunderhall]

According to my resident work Jambo these are people who ordered tickets on finance in the period that Zebra started to refuse applications.
Never trust them to know what's going on at their club.
You could phone and reserve your seat and then go to the shop with cash or cheque since they couldn't take any card transactions.
Anyone could reserve. :wink:

[Dashing Bob S]

I'd like to ask Birch who victimised Hearts? In what way were they victim in any of this? Their fans, their ex-Chairman, their ex-Director's, a Peer of the Realm, an Edinburgh councilor and their more prominant ex-players all went along with bringing Romanov to the club. Whilst he was there he was met with very little dissent and what little there was was never cogently put forward and was shouted down by the majority as soon as it was heard. The victims arwe those who invested with good will in Romanov's bank and other club's who lost out during the period of financial doping, whilst Hearts and their supporter's revelled in being flash with money invested.

I know he has to appply spin to do his job but playing the 'victim card at this point is pathetic.

I utterly loathe the concept of the football fan as the 'victim', as perpetuated by the media and officials like Birch. They are nothing of the kind. It's football, it's voluntary. Yes, people have an emotional attachment to a club, but there are always ups and downs. Tey should have a little perspective, grown some balls and take it on the chin. They were quick enough to enjoy the gloating frenzy of their rather limited success (especially given the likely cost) when they were financially doped up to the gills.

[CropleyWasGod]

A declarable business benefit and taxable ? I hope the tax man is keeping an eye on all the freebees that are being chucked their way :cb

It's not taxable:greengrin

[CropleyWasGod]

HutchyHibby wonders how BDO will get their Administrators fee anytime soon? ;-)

CWG has no idea, mate.

[CropleyWasGod]

Can't see how I was discrediting you... ;-) I am no troll just a lurker. You've got it right in the last stab in the dark... :not worth Be kind to me, the last time I posted (a couple of years ago) someone gave me kicking and I now assume it was a CWG hater who couldn't read :wink:

That'll be my kids, then. :greengrin

[BigKev]

So... If BDO claim they've only got money to see them through to Christmas time is that not another breach of rules whilst confirming there's no guarantee they can fulfill the season's fixtures? Surely they have to be kicked out the league structure or am I being too simplistic?

[Part/Time Supporter]

So... If BDO claim they've only got money to see them through to Christmas time is that not another breach of rules whilst confirming there's no guarantee they can fulfill the season's fixtures? Surely they have to be kicked out the league structure or am I being too simplistic?

Yes

1. Two weeks ago, they didn't have a pot to piss in - that's been largely rectified thanks to the efforts of their fans.

2. What they mean is that the funds they have now and the guaranteed income due to come in would get them to Christmas at least. If the administration drags on longer than expected then they'll reassess the situation in the autumn.


This BDO Mob are not to my liking they seem to be favouring the yams instead of looking after the creditors best interests:confused:

I do love how folk throw around serious accusations without the slightest bit of supporting evidence.

[Steve20]

So... If BDO claim they've only got money to see them through to Christmas time is that not another breach of rules whilst confirming there's no guarantee they can fulfill the season's fixtures? Surely they have to be kicked out the league structure or am I being too simplistic?

They'll see the season out. I still can't see them going into liquidation at all. They'll get a CVA and new owners.

[CropleyWasGod]

Jeez, what sort of muppets are in charge here ..

.. I mean ..

.. I could understand losing count if it were a few dozen .. but not being able to count the amount of bidders where you only need one hand (and don't even need all the fingers on it) is ridiculous!

:greengrin

FFS, Stevie, if you've learned one thing over the past 18 months, it's that accountants NEVER give exact answers.

"What's 1 plus 1?"

"What would you like it to be?"

[CropleyWasGod]

They'll see the season out. I still can't see them going into liquidation at all. They'll get a CVA and new owners.

And the frozen shares?

(No.29 in the CWG book of standard answers.)

[brog]

Yes

1. Two weeks ago, they didn't have a pot to piss in - that's been largely rectified thanks to the efforts of their fans.

2. What they mean is that the funds they have now and the guaranteed income due to come in would get them to Christmas at least. If the administration drags on longer than expected then they'll reassess the situation in the autumn.



I do love how folk throw around serious accusations without the slightest bit of supporting evidence.


Signing Danny Wilson could be construed as supporting evidence. They're accountants, not football managers.

[sidneyhibbie]

They'll see the season out. I still can't see them going into liquidation at all. They'll get a CVA and new owners.

Thats yamland thinking real world now these BDO Mob saying ten interested parties is a bluff sit tight and wait i think their will be no bids or at best that stupid plumber bloke will offer to clear the blocked drains in the asbestos stand for free in return for ownership.

you gotta paint a face or two:na na: 7-0 ya yam fuds.

[CropleyWasGod]

[/B]Signing Danny Wilson could be construed as supporting evidence. They're accountants, not football managers.

They would have done so on the advice of the football staff.

In the same way that Rod does.......oh wait, I get your point. :greengrin

[Aldo]

If they haven't managed to reach their target
Then does that mean they have a
Shortfall within a shortfall.

Surely this will be the final nail??

(And if this is the case how the hell do
They still manage to bring in players)

[Ozyhibby]

So only chance of anything significant happening is a week on Friday if none of the bidders come up with enough of a bid to satisfy Ukio? Otherwise they stay in admin until they run out of cash or the shares are unfrozen?

[Part/Time Supporter]

If they haven't managed to reach their target
Then does that mean they have a
Shortfall within a shortfall.

Surely this will be the final nail??

(And if this is the case how the hell do
They still manage to bring in players)

"3000" was a target, not a deadline. It doesn't really matter if they sell a few hundred less or a few hundred more. The important thing was to raise enough cash to ensure the business could continue trading, which they've done.


Signing Danny Wilson could be construed as supporting evidence. They're accountants, not football managers.

They set a budget. Sutton turned down a wage, which meant they had a wage spare for Wilson.


So only chance of anything significant happening is a week on Friday if none of the bidders come up with enough of a bid to satisfy Ukio? Otherwise they stay in admin until they run out of cash or the shares are unfrozen?

It's far more likely that the highest bidder (most likely the McKie group) will be nominated preferred bidder at some point in the following week. Then discussions will continue about securing the shares for sale and the price(s) to be paid.

[CropleyWasGod]

So only chance of anything significant happening is a week on Friday if none of the bidders come up with enough of a bid to satisfy Ukio? Otherwise they stay in admin until they run out of cash or the shares are unfrozen?

The 12th is only a deadline. It will take some time after that to assess any bids, and for UKIO/UBIG to consider them.

And, as with Rangers, deadlines can be moved.

[Eyrie]

Signing Danny Wilson could be construed as supporting evidence. They're accountants, not football managers.

As evidenced by their mistaking Wilson for a decent player.

[CropleyWasGod]

As evidenced by their mistaking Wilson for a decent player.

You saying accountants can't spot a decent player????

I still have faith in Valdas Trakys.

[Part/Time Supporter]

As evidenced by their mistaking Wilson for a decent player.

1. They offered the contract to Sutton first (because they needed a striker more)

2. They couldn't sign anybody else.

[sidneyhibbie]

The 12th is only a deadline. It will take some time after that to assess any bids, and for UKIO/UBIG to consider them.

And, as with Rangers, deadlines can be moved.

This is the most annoying the goal posts always seem to get changed the coffin is out with the corpse of the yams in it dead and the final nail is half hit in when something happens to delay the final hit of the final nail.

Then you go on brokeback and they seem un concerned even happy WTF.

They are in denial heads buried in the sand the reality is a 15 point deduction at the very least, probable Liquidation, a team of kids payed buttons, and gubbed every week.

feel the pain yam fuds.:not worth

[CropleyWasGod]

This is the most annoying the goal posts always seem to get changed the coffin is out with the corpse of the yams in it dead and the final nail is half hit in when something happens to delay the final hit of the final nail.

Then you go on brokeback and they seem un concerned even happy WTF.

They are in denial heads buried in the sand the reality is a 15 point deduction at the very least, probable Liquidation, a team of kids payed buttons, and gubbed every week.

feel the pain yam fuds.:not worth

Don't you get it? The most fulfilling of human experiences is when there is a long build-up of anticipation.

Just look at Daffy.

[SkintHibby]

Merely my personal view... IMO she's a munter....

Just cause she is seen with a Jambo roaster there's no need for that.

Lets see your lady then, I dare you!:aok:

[Fat Penlon]

You don't even need me ;)

The number Jamie has is "accurate" but as mentioned, not all of them have actually been paid for yet as a few hundred are still pending due to being paid with credit card (I can't get that exact number unfortunately). Adult season tickets account for about ~1600 & more than half the overall total were done on Zebra finance.

If that's the case then the numbers don't add up for me. How can that and a 5 figure sum from Wonga raise the BDO quoted figure of almost 750,000? also if that's what they have in addition to the spfl payment in August then how is that enough to run an Spl club for 6 months +?

The numbers just don't add up?

[grunt]

If they haven't managed to reach their target
Then does that mean they have a
Shortfall within a shortfall.

Surely this will be the final nail??

(And if this is the case how the hell do
They still manage to bring in players)
Is this some form of haiku?

[brog]

They would have done so on the advice of the football staff.

In the same way that Rod does.......oh wait, I get your point. :greengrin

:greengrin I had exact same thought as I submitted the post!!

[steviehibsleith]

If that's the case then the numbers don't add up for me. How can that and a 5 figure sum from Wonga raise the BDO quoted figure of almost 750,000? also if that's what they have in addition to the spfl payment in August then how is that enough to run an Spl club for 6 months +?

The numbers just don't add up?

Hope the spfl implement a fine close to the sevco one for bringing the game into disrepute, probably safer just to withold £100,000 from the payment they will be due .

[sidneyhibbie]

Don't you get it? The most fulfilling of human experiences is when there is a long build-up of anticipation.

Just look at Daffy.

Dont worry i am in it for the long haul hibbie for life am i and is all my family they are now mocking me on brokeback but to the ****bo yam losers i give them this

http://www.youtube.com/watch?v=eY2RJkUUruQ

[Iggy Pope]

Dont worry i am in it for the long haul hibbey for life am i and is all my family they are now mocking me on brokeback but to the ****bo yam losers i give them this

http://www.youtube.com/watch?v=eY2RJkUUruQ

I like the sound of you Snidey

Edit. I mean Sidney. Sidney 'hibbey' that is. ARF!

[Kato]

Dont worry i am in it for the long haul hibbie for life am i and is all my family they are now mocking me on brokeback but to the ****bo yam losers i give them this

http://www.youtube.com/watch?v=eY2RJkUUruQ

Those pigeons are high.

[Dunderhall]

Dont worry i am in it for the long haul hibbie for life am i and is all my family they are now mocking me on brokeback but to the ****bo yam losers i give them this

http://www.youtube.com/watch?v=eY2RJkUUruQ
Interesting tea bag, I'm sure that nose has got longer.

http://i1277.photobucket.com/albums/y500/Jakeyrowling/147BF367-9B27-432D-A246-1B08C0615B88-39540-0000498B7F165B3B_zps839b7e9e.jpg

[jgl07]

It's not taxable:greengrin

It is interesting that much of the financial help provided to Hearts is in the form of buying season tickets (mostly juniors) rather than cash donations. The season tcket will attract VAT unlike the caske bake proceeds and share (cough) issues.

It seems a dumb way to go. Especially with the daily updates on sales. The tax authorities will be calculating their share as we speak.

[PatHead]

It is interesting that much of the financial help provided to Hearts is in the form of buying season tickets (mostly juniors) rather than cash donations. The season tcket will attract VAT unlike the caske bake proceeds and share (cough) issues.

It seems a dumb way to go. Especially with the daily updates on sales. The tax authorities will be calculating their share as we speak.

Don't forget they are also filling seats that could be sold on a weekly basis as they fill the ground

[Aidan the Hibby]

I must've missed something here?? Apparently there fine and were ****ed financially......?? They'll sail through this and come out the other side debt free whilst we are lying In £8 million debt which is rising uncontrollably


Roasters.

[Gus Fring]

I must've missed something here?? Apparently there fine and were ****ed financially......?? They'll sail through this and come out the other side debt free whilst we are lying In £8 million debt which is rising uncontrollably


Roasters.

I've yet to hear any Yam explain why, if the above were true, Hibs would not simply do whatever Hearts are about to do to achieve said debt free status?

[YehButNoBut]

They are really getting the Yams pumped up at the moment, latest on Hearts website states that there has been a "spectacular" response from the fans.

Most of them I've come across seem so chuffed with everything just now and are convinced everything will turn out wonderful, they must be the happiest lot ever to go into administration.

They're really getting on my mammaries just now. :yw::jamboak:

http://www.heartsfc.co.uk/articles/20130703/spectacular-response-by-fans-bdo_2241384_3227757

[The Green Goblin]

This BDO Mob are not to my liking they seem to be favouring the yams instead of looking after the creditors best interests:confused:

Goblin agrees. Goblin thinks they are in danger of shirking their responsibilities. (Personally, I LOVE your posts in 3rd person referring to yourself - keep it up! :greengrin)

[#FromTheCapital]

http://bit.ly/17KDWN7

Administrator says they are considering newco :greengrin

[Saorsa]

They are really getting the Yams pumped up at the moment, latest on Hearts website states that there has been a "spectacular" response from the fans.

Most of them I've come across seem so chuffed with everything just now and are convinced everything will turn out wonderful, they must be the happiest lot ever to go into administration.

They're really getting on my mammaries just now. :yw::jamboak:

http://www.heartsfc.co.uk/articles/20130703/spectacular-response-by-fans-bdo_2241384_3227757Which is why it'll be so much funnier when it all goes wrong and they are eliminated.

[Treadstone]

http://bit.ly/17KDWN7

Administrator says they are considering newco :greengrin


Until administrators are appointed at UBIG, BDO are restricted in what they can do. “That is the wrinkle,” said Birch. “I am not saying you can start a second season in administration. It starts to get a bit tricky. I would like to think we’re out by the window in January, but you can’t call it.”

"...second season in admin..tricky...out by the window in January...but you can’t call it."

Keep talking.:blah:

[Hank Schrader]

http://bit.ly/17KDWN7

Administrator says they are considering newco :greengrin

If that is the final outcome for the pink reprobates it'll be interesting to see how they view the history of Old/New Hearts? No doubt, when Sevco appeared from the ashes of dead Huns they'll have been shouting from the rooftops "brand new team" "No history" etc etc

Expect world record amounts of double standards and contradictions...

[CyberSauzee]

http://bit.ly/17KDWN7

Administrator says they are considering newco :greengrin

That sends me to my kip on a happy note :-)

[SaulGoodman]

http://bit.ly/17KDWN7

Administrator says they are considering newco :greengrin

That..

That's just lovely.

[Bostonhibby]

LOVE your posts in 3rd person referring to yourself - keep it up! :greengrin

Agree, takes the old Andy Goram song to a new level.

Three Sidneyhibbies, there's only 3 Sindeyhibbies.

[#FromTheCapital]

That sends me to my kip on a happy note :-)


Great bedtime reading I have to say. Newco hearts is getting to the level of punishment that I'd find acceptable, so fingers crossed. Had a wee peak on brokeback to see the initial reaction to it and there's plenty of :ostrich: going on already :aok:

[monktonharp]

Great bedtime reading I have to say. Newco hearts is getting to the level of punishment that I'd find acceptable, so fingers crossed. Had a wee peak on brokeback to see the initial reaction to it and there's plenty of :ostrich: going on already :aok: maybe, the best way to conteract the possible newco alternative, If they do turn up for the start of the season, all Hibs fans can think of the best way of not helping them.................by counting what £27 x 3500= on the 10th of AUG.

[Dashing Bob S]

http://bit.ly/17KDWN7

Administrator says they are considering newco :greengrin

Trev starting to display extreme signs of brown stains in the trousers, and prime the maroon hordes for the inevitable. Translates as: 'we've got to get out from this mess with our fee asap.'

[ian cruise]

maybe, the best way to conteract the possible newco alternative, If they do turn up for the start of the season, all Hibs fans can think of the best way of not helping them.................by counting what £27 x 3500= on the 10th of AUG.

It's almost £100k to our managers fund if we just give it straight to Hibs instead (or 90k and the rest for the pints while game is watched in local, supporting the local wconomy and that!)

You get the fence, I will get the "Careful Now" and "Down With This Sort Of Thing!" Placards so we can stop those who don't see things our way.

[Tollhouse Hibee]

http://bit.ly/17KDWN7

Administrator says they are considering newco :greengrin


fan f***ing tastic!

[Part/Time Supporter]

http://bit.ly/17KDWN7

Administrator says they are considering newco :greengrin

Meh, you read it on hibs.net (the day before) yesterday...


Trevor Birch:

If we cannot get the shares then we have to start thinking: ‘is there another way of doing it?’ That might mean, of course, the Rangers way. They set up a newco because they could not do a CVA because of HMRC. But that took them out of the league, so there is a precedent there. You try and avoid that at all costs. Whether the SPFL and the SFA would treat us the same way, I don’t know.

I am anticipating that it might be a prolonged process and we have to be ready for that. The best guess for the earliest time to come out of administration would be three to four months. That [UBIG] is the wrinkle. I am not saying you can start a second season in administration. It starts to get a bit tricky. I would like to think we’re out by the window in January, but you can’t call it.

He's admitting that if it wasn't for the Rangers precedent of what happens to a newco in Scotland then that's what they would be doing now. They may try that and plead for leniency on the grounds that they are being forced to set up a newco for non-football reasons. I don't think that would wash though.

I think the "second season" chat will have come from him mentioning that the Portsmouth administration, which came about due to the collapse of a Lithuanian bank, took over a year. Unless the UBIG shares become available quickly, BDO have two options: 1) go down the newco route and gamble they will get off lightly compared to Rangers; or 2) continue in administration for a long time and gamble that a threadbare squad can survive in the SPL without reinforcements. A heads we lose, tails you win scenario.

[Sanger]

lithuanian authorities have learnt lesson of Snoras Quickly liquidated Ukio bankas and moved depositors to functioning bank making them good on their deposits. Creditors where issued a notice on claims on Tuesday. Administrator has clear view of tangled webb with UbIG. They have accessed assets they can sell to start to fill the whole IOC £200 million the state put in to make good depositors. They have target for Tynie/Hearts. Flush out the bids to see if they come close. If not liquidation !

[HibeeMG]

lithuanian authorities have learnt lesson of Snoras Quickly liquidated Ukio bankas and moved depositors to functioning bank making them good on their deposits. Creditors where issued a notice on claims on Tuesday. Administrator has clear view of tangled webb with UbIG. They have accessed assets they can sell to start to fill the whole IOC £200 million the state put in to make good depositors. They have target for Tynie/Hearts. Flush out the bids to see if they come close. If not liquidation !

I like the sound of that. :greengrin

An unknown would be what target they have in mind? And is the target figure for Tynecastle on it's own... the Hearts club, brand and players as a separate package or ... the whole shooting match as a oner?

[Moulin Yarns]

I would just like to join the debate and confuse things further. :wink:

[Biggie]

http://bit.ly/17KDWN7

Administrator says they are considering newco :greengrin

Diet newco.....hmmm

[Hibee87]

I would just like to join the debate and confuse things further. :wink:

Go on, confuse us......whats your thoughts :greengrin

[Viva_Palmeiras]

Goblin agrees. Goblin thinks they are in danger of shirking their responsibilities. (Personally, I LOVE your posts in 3rd person referring to yourself - keep it up! :greengrin)
"Mother - it's happening again..."

[GloryGlory]

Trev starting to display extreme signs of brown stains in the trousers, and prime the maroon hordes for the inevitable. Translates as: 'we've got to get out from this mess with our fee asap.'

:agree:

Also translates as "Thanks, mugs. When we came in there was no cash left to pay anybody anything, now we can make sure we keep back enough cash to trouser our hefty fees when we want. We've done a Romanov on you."

You wonder how they are going to manage as far as January, the way they are spending next season's cash now just to keep standing still. Sometime soon, the administrator will probably ask the season ticket holders to start buying a ticket every game for the seat they've already paid for.

[ScottB]

If that is the final outcome for the pink reprobates it'll be interesting to see how they view the history of Old/New Hearts? No doubt, when Sevco appeared from the ashes of dead Huns they'll have been shouting from the rooftops "brand new team" "No history" etc etc

Expect world record amounts of double standards and contradictions...

In their case the oldco will quite clearly still be owned by the Liths, making it that much harder to claim to be the same...

[HibbySpurs]

http://bit.ly/17KDWN7

Administrator says they are considering newco :greengrin

Hopefully that article will put some of the yams delusional delirium over the last few days at a peep as they say:greengrin

Then again probably not as they'll somehow spin this into an allisbarry story :lolyam:

[PapillonVert]

Birch on SSN saying they cant sell shares yet.

Also said buyers dont need to fill a "gaping hole" in finances? Did I get that right?

It's HMFC - they're "self-sufficient", don't you know?

Do try to keep up. :greengrin

[Hibernia Na Eir]

are this lot still breathing? wish someone would turn off their f***** life support!!

[Www1875hfc]

are this lot still breathing? wish someone would turn off their f***** life support!!

I'm sure the operation was a success, but the patient will die anyway. :greengrin

[#FromTheCapital]

Hopefully that article will put some of the yams delusional delirium over the last few days at a peep as they say:greengrin

Then again probably not as they'll somehow spin this into an allisbarry story :lolyam:

According to some of the clowns on brokeback it's the Scotsmans fault for printing this story and twisting it. Apparently the media want them to go bust and its all a conspiracy against them :rotflmao:
Completely ignoring the fact that there's quotes from Birch in that article clearly stating that a newco is a possibility. Fannies the lot of them... Deluded, arrogant fannies.

[Purehibee_MYB]

According to some of the clowns on brokeback it's the Scotsmans fault for printing this story and twisting it. Apparently the media want them to go bust and its all a conspiracy against them :rotflmao:Completely ignoring the fact that there's quotes from Birch in that article clearly stating that a newco is a possibility. Fannies the lot of them... Deluded, arrogant fannies.

They begin to sound more and more like those blue-nosed fellas that used to exist in the west don't they? :greengrin

[sidneyhibbie]

According to some of the clowns on brokeback it's the Scotsmans fault for printing this story and twisting it. Apparently the media want them to go bust and its all a conspiracy against them :rotflmao:
Completely ignoring the fact that there's quotes from Birch in that article clearly stating that a newco is a possibility. Fannies the lot of them... Deluded, arrogant fannies.


The latest updates are indicating that the UBIG Mess could take months if not years to sort out, i think they will limp along till early next year then Be Liquidated even if they appoint an Administrator to handle UBIG I Cant see them accepting the pathetic offer the CVA Will put forward.

I Sense reality is starting to hit home now brokeback is not such a happy place today after the latest BDO announcement.

[lyonhibs]

http://www.hmfckickback.co.uk/index.php?/topic/130043-hearts-awash-with-cash/

Where to begin. Seemingly they are covered in cash at Tynecastle, bathing in asses milk and the such. Never mind that the cash - an admirable amount as it may be - is flying out again immediately to service interest/pay wages etc etc (correct me if I'm wrong).

We will see what the future holds, but if it goes pop the delusion of some of these muppets is breathtaking.

[Mr White]

I Sense reality

:rotflmao:

[Treadstone]

http://www.hmfckickback.co.uk/index.php?/topic/130043-hearts-awash-with-cash/

Where to begin. Seemingly they are covered in cash at Tynecastle, bathing in asses milk and the such. Never mind that the cash - an admirable amount as it may be - is flying out again immediately to service interest/pay wages etc etc (correct me if I'm wrong).

We will see what the future holds, but if it goes pop the delusion of some of these muppets is breathtaking.

There is definitely ass milk somewhere.:wink:

[Hank Schrader]

http://www.hmfckickback.co.uk/index.php?/topic/130043-hearts-awash-with-cash/

Where to begin. Seemingly they are covered in cash at Tynecastle, bathing in asses milk and the such. Never mind that the cash - an admirable amount as it may be - is flying out again immediately to service interest/pay wages etc etc (correct me if I'm wrong).

We will see what the future holds, but if it goes pop the delusion of some of these muppets is breathtaking.

It's Kiwidoug. Anything that absolute t*t says should be ignored.

[JollyGreenGiant]

What I don't get is how they talk about getting to January, but at this point they may have to go Newco route! So what happens to the rest of the season - surely Doncaster et al have to do something to ensure this doesn't happen mid season!

[Ozyhibby]

http://www.hmfckickback.co.uk/index.php?/topic/130043-hearts-awash-with-cash/

Where to begin. Seemingly they are covered in cash at Tynecastle, bathing in asses milk and the such. Never mind that the cash - an admirable amount as it may be - is flying out again immediately to service interest/pay wages etc etc (correct me if I'm wrong).

We will see what the future holds, but if it goes pop the delusion of some of these muppets is breathtaking.

Right now Hibs will be sitting on about £3m in cash compared with their £0.5m. If admin is such a good place to be we could do it this season if we wanted. Wait till we are at least 20 points clear with a couple of game to go then go for it.
But it's not a good place to be. And they are all idiots.

[JeMeSouviens]

What I don't get is how they talk about getting to January, but at this point they may have to go Newco route! So what happens to the rest of the season - surely Doncaster et al have to do something to ensure this doesn't happen mid season!

They reckon they have enough money (between their "spectacular" ST sales, the SPFL money due in August and matchday income) to get to the New Year. At that point, there are a few options that might let them limp through to the end of the season: a preferred bidder to fund a shortfall, a January firesale of the best young team ever seen anywhere or the SPFL "doing a Gretna" and giving them their expected end of season money in advance. Whatever happens, I can't see them being allowed to newco until the end of the season and if they do the clamour from the massed forces of Sevconia will ensure they get put in Div3.

If they're going to newco, then I think a morale sapping season at the bottom of the top division getting humped by all and sundry is definitely the preferred option. :wink:

[CropleyWasGod]

I would just like to join the debate and confuse things further. :wink:

Fight ya. :greengrin

[JeMeSouviens]

http://www.hmfckickback.co.uk/index.php?/topic/130043-hearts-awash-with-cash/

Where to begin. Seemingly they are covered in cash at Tynecastle, bathing in asses milk and the such. Never mind that the cash - an admirable amount as it may be - is flying out again immediately to service interest/pay wages etc etc (correct me if I'm wrong).


Not sure if they have to pay interest on the debt while in administration? Other than that, you're bang on, the admins more or less said yesterday that the money runs out again in January.



We will see what the future holds, but if it goes pop the delusion of some of these muppets is breathtaking.

:agree:

[Jack]

Ukio called the shots and BDO were installed as administrators.

Can someone please explain then why BDO are in any way involving themselves in a newco scenario?

Why should they be concerned about what happens after?

And who, if anyone, has the right to start a newco to replace the yams? As a more fitting and proper person than they are likely to attract on what grounds could BDO stop me from doing it?

[poolman]

It's Kiwidoug. Anything that absolute t*t says should be ignored.


I knew him yonks ago when he lived in Viewforth in Embra

All I can say is, once an absolute roaster, always an absolute roaster :agree:

[JollyGreenGiant]

They reckon they have enough money (between their "spectacular" ST sales, the SPFL money due in August and matchday income) to get to the New Year. At that point, there are a few options that might let them limp through to the end of the season: a preferred bidder to fund a shortfall, a January firesale of the best young team ever seen anywhere or the SPFL "doing a Gretna" and giving them their expected end of season money in advance. Whatever happens, I can't see them being allowed to newco until the end of the season and if they do the clamour from the massed forces of Sevconia will ensure they get put in Div3.

If they're going to newco, then I think a morale sapping season at the bottom of the top division getting humped by all and sundry is definitely the preferred option. :wink:


Ok, but surely if they have set a deadline of 12th July for bids, they are going to have a fair idea of how this is going to pan out, so why not go newco route then rather than dragging out the inevitable!

[CropleyWasGod]

Ukio called the shots and BDO were installed as administrators.

Can someone please explain then why BDO are in any way involving themselves in a newco scenario?

Why should they be concerned about what happens after?

And who, if anyone, has the right to start a newco to replace the yams? As a more fitting and proper person than they are likely to attract on what grounds could BDO stop me from doing it?

BDO are merely floating the possibility of the NewCo route. If they are unable to make a CVA work, they are entitled to sell off the assets for the benefit of the creditors. If the advert floating about earlier this week is genuine, then they have already started that process.

Anyone can start up that NewCo. It's not, though, in BDO's power to assess whether you are a fit and proper person; that's the SFA's call. BDO will make a sale on the best commercial terms.

[Zondervan]

　　　

They are...official papers were passed to the Kaunas Courts on Monday 17th June...the same day the Yams went into admin.

I'll get an official link if you want it....

....Banderson might see this as an 'exclusive' if he can beat me to it.

Sergey,

The reports today suggest that the UBIG Admin has yet to happen. Can you clarify what actually happened on the 17th June in Lithland?

[CB_NO3]

Ukio called the shots and BDO were installed as administrators.

Can someone please explain then why BDO are in any way involving themselves in a newco scenario?

Why should they be concerned about what happens after?

And who, if anyone, has the right to start a newco to replace the yams? As a more fitting and proper person than they are likely to attract on what grounds could BDO stop me from doing it?
It looks to me a CVA is far from being agreed. I think BDO know this, they have asked the fans to shift 3000 tickets and they have done that, yet they are still making noises that a "newco" is possible. It looks like they are struggling big time to get hold of UBIGs shares. The Ukio administrators know they will get minimum 6.5m for Tynecastle as that's the value of the stadium in security to the debt. So in order for any new owner to takeover Hearts they are going to have to pay the Ukio administrators 6.5m and it looks like that wont even be enough to buy the whole club. If no one comes up with the 6.5m asap then Ukio will call in their debt, possibly on the 12th July, again BDO will know more than they are letting on. If that happens then liquidation is inevitable. The Ukio admin team will strip the remaining players and stadium as a separate asset and sell to a newco, looking more likely to be FOH. Am pretty sure they deep down know this is happening as they have said nothing the last few days.

I actually find it staggering that this Birch fellow came out saying a "newco" is still possible. BDO have changed their tune the last 2 weeks. I think we may have a new Duff and Phelps on the go here.

[JeMeSouviens]

Ok, but surely if they have set a deadline of 12th July for bids, they are going to have a fair idea of how this is going to pan out, so why not go newco route then rather than dragging out the inevitable!

BDO's preferred option is to sell Hearts via a CVA route out of admin. That way the club has its max value as a going concern in the top division and the creditors will get some p/£. The newco route will start them in Div3, and a sale of "business and assets" will be at a much reduced price (effectively whatever Ukio's liquidators have as their minimum acceptable for Tiny I would imagine). The creditors after Ukio's liquidator would almost certainly get nothing.

I think BDO have to try the CVA route first.

[CropleyWasGod]

It looks to me a CVA is far from being agreed. I think BDO know this, they have asked the fans to shift 3000 tickets and they have done that, yet they are still making noises that a "newco" is possible. It looks like they are struggling big time to get hold of UBIGs shares. The Ukio administrators know they will get minimum 6.5m for Tynecastle as that's the value of the stadium in security to the debt. So in order for any new owner to takeover Hearts they are going to have to pay the Ukio administrators 6.5m and it looks like that wont even be enough to buy the whole club. If no one comes up with the 6.5m asap then Ukio will call in their debt, possibly on the 12th July, again BDO will know more than they are letting on. If that happens then liquidation is inevitable. The Ukio admin team will strip the remaining players and stadium as a separate asset and sell to a newco, looking more likely to be FOH. Am pretty sure they deep down know this is happening as they have said nothing the last few days.

I actually find it staggering that this Birch fellow came out saying a "newco" is still possible. BDO have changed their tune the last 2 weeks. I think we may have a new Duff and Phelps on the go here.

Why staggering? If a CVA doesn't work, it's the ONLY route to preserve a "Hearts".

If they have changed their tune in the past 2 weeks, it's probably in the light of the realisation that the frozen shares really are going to be a major issue.

[Waxy]

http://bit.ly/17KDWN7

Administrator says they are considering newco :greengrinAm a livin in a box.Am a livin in a cardboard box.

[sidneyhibbie]

It looks to me a CVA is far from being agreed. I think BDO know this, they have asked the fans to shift 3000 tickets and they have done that, yet they are still making noises that a "newco" is possible. It looks like they are struggling big time to get hold of UBIGs shares. The Ukio administrators know they will get minimum 6.5m for Tynecastle as that's the value of the stadium in security to the debt. So in order for any new owner to takeover Hearts they are going to have to pay the Ukio administrators 6.5m and it looks like that wont even be enough to buy the whole club. If no one comes up with the 6.5m asap then Ukio will call in their debt, possibly on the 12th July, again BDO will know more than they are letting on. If that happens then liquidation is inevitable. The Ukio admin team will strip the remaining players and stadium as a separate asset and sell to a newco, looking more likely to be FOH. Am pretty sure they deep down know this is happening as they have said nothing the last few days.

I actually find it staggering that this Birch fellow came out saying a "newco" is still possible. BDO have changed their tune the last 2 weeks. I think we may have a new Duff and Phelps on the go here.

This is a really good post i agree with your findings and this should be sorted before the season starts so they can be demoted properly

[cocopops1875]

This is a really good post i agree with your findings and this should be sorted before the season starts so they can be demoted properly

You should write a letter

[AinsterHibs]

:agree:
I'm sure the operation was a success, but the patient will die anyway. :greengrin:agree:

[Part/Time Supporter]

Hearts bucking the trend

http://www.accountancyage.com/aa/news/2279298/begbies-traynor-profits-halve-in-latest-financial-report?WT.rss_f=&WT.rss_a=Begbies+Traynor+profits+halve+in+latest+f inancial+report&utm_source=twitterfeed&utm_medium=twitter


The listed insoovency [sic] specialists reported that pre-tax profit had fallen to £2.4m for the year ended 30 April 2013 from £5.5m in 2012, while profit before tax fell to £400,000 compared to £2.1m in 2012. The firm's revenue also declined to £51.1m from £57.7m for the same period a year earlier.

The decline has been attributed to a drop in the number of corporate insolvencies, which were nationally down 10% for the year ended 31 March, compared with the previous year.

[jacomo]

It's far more likely that the highest bidder (most likely the McKie group) will be nominated preferred bidder at some point in the following week. Then discussions will continue about securing the shares for sale and the price(s) to be paid.

Let's see the colour of McKie's money. I think he's spotted an opportunity, as did Brian Kennedy with Rangers, to pick up a debt-free football club for buttons, make his money back and move it on. There are significant obstacles to any of this happening, of course.

[Moulin Yarns]

Fight ya. :greengrin

Couldn't resist :greengrin Everybody should have some similarity to your name so that nobody knows what's real or not.

Just wait until I post some financial revelation about that bunch of highland dancers that is totally left field :wink:

[CropleyWasGod]

Couldn't resist :greengrin Everybody should have some similarity to your name so that nobody knows what's real or not.

Just wait until I post some financial revelation about that bunch of highland dancers that is totally left field :wink:

I do it all the time. Would anybody actually notice that it wasn't really me? :greengrin

[Onion]

It looks to me a CVA is far from being agreed. I think BDO know this, they have asked the fans to shift 3000 tickets and they have done that, yet they are still making noises that a "newco" is possible. It looks like they are struggling big time to get hold of UBIGs shares. The Ukio administrators know they will get minimum 6.5m for Tynecastle as that's the value of the stadium in security to the debt. So in order for any new owner to takeover Hearts they are going to have to pay the Ukio administrators 6.5m and it looks like that wont even be enough to buy the whole club. If no one comes up with the 6.5m asap then Ukio will call in their debt, possibly on the 12th July, again BDO will know more than they are letting on. If that happens then liquidation is inevitable. The Ukio admin team will strip the remaining players and stadium as a separate asset and sell to a newco, looking more likely to be FOH. Am pretty sure they deep down know this is happening as they have said nothing the last few days.

I actually find it staggering that this Birch fellow came out saying a "newco" is still possible. BDO have changed their tune the last 2 weeks. I think we may have a new Duff and Phelps on the go here.

This is a game of PR. BDO were never going to talk of a Newco solution as long as there was cash to be pulled in through STs. Now that card has been played and they've bought a little time (and have the cash in the bank) they can start feeding the Yam mob with some home truths.

Next play is to start blaming Lithuanian bureaucracy for holding things up, delaying the process, needing more cash, blah blah. Easy to deflect blame onto those bad people in Lithuania - perfect scapegoats when it all goes tits up. Let the games begin :greengrin

[Onion]

Let's see the colour of McKie's money. I think he's spotted an opportunity, as did Brian Kennedy with Rangers, to pick up a debt-free football club for buttons, make his money back and move it on. There are significant obstacles to any of this happening, of course.

Even if they're not serious about buying, it's an easy/cheap way to raise your profile and get some +ve PR among the Yam Mob, politicians and great and good of Edinburgh. There will be a million reasons to withdraw any "offer" at any stage, and still look like the good guy who tried to help an ailing club. A no lose play.

[jdships]

Let's see the colour of McKie's money. I think he's spotted an opportunity, as did Brian Kennedy with Rangers,[[B]/B] to pick up a debt-free football club for buttons, make his money back and move it on. There are significant obstacles to any of this happening, of course.

Agree totally with that
Kennedy has a track record on this !!
Spoke with an old friend who , now retired, was for many years employed by one of the major company's involved in sequestrations/liquidations.
He said basically the same as you are saying and added " ........ hell of a lot of "spin" going on here !"

His fear is that Hearts will go into liquidation and all the money put up by the supporters will be gone !
Secondly whoever "buys " the club will still have to find substantial funds/funding to run/operate the club

Interesting four/six weeks ahead for the " slum dwellers " methinks !!! :greengrin

[GreenCastle]

This is a game of PR. BDO were never going to talk of a Newco solution as long as there was cash to be pulled in through STs. Now that card has been played and they've bought a little time (and have the cash in the bank) they can start feeding the Yam mob with some home truths.

Next play is to start blaming Lithuanian bureaucracy for holding things up, delaying the process, needing more cash, blah blah. Easy to deflect blame onto those bad people in Lithuania - perfect scapegoats when it all goes tits up. Let the games begin :greengrin

:agree:

They had to be positive at the start to get the yams :ostrich: on side.

As soon as they have raised some money and given them a little more breathing space - the real truths are starting to emerge.

Many of the yams don't realise it's not what BDO do here in Edinburgh / UK....it's about events in Lithuania and that's the real wildcard situation we find ourselves in - the hard part to work out is the timing - this is still got quite a while to drag on - which in the yams case means more worry as other teams fans torment them and the media try and sell papers :greengrin

Bottom line the club will continue to be a laughing stock in UK football :lolyam: :brokenyam:

[Keith_M]

Couldn't resist :greengrin Everybody should have some similarity to your name so that nobody knows what's real or not.

Just wait until I post some financial revelation about that bunch of highland dancers that is totally left field :wink:


That's not funny! Change your name back right away!!!


:na na:

[Waxy]

Looks like BDO can drop the newco bombshell now that they've taken in as much cash as they can.
Thats the jambo cash exhausted now.
Where are they going to get sufficient funds to get them through to the end of the season?
Has to be a buyer but no buyer would pay the amount the Liths want.
So it looks like it's the end.
Newco.
The lowland league.

[sidneyhibbie]

This is a game of PR. BDO were never going to talk of a Newco solution as long as there was cash to be pulled in through STs. Now that card has been played and they've bought a little time (and have the cash in the bank) they can start feeding the Yam mob with some home truths.

Next play is to start blaming Lithuanian bureaucracy for holding things up, delaying the process, needing more cash, blah blah. Easy to deflect blame onto those bad people in Lithuania - perfect scapegoats when it all goes tits up. Let the games begin :greengrin


Yes i like this idea So BDO Are pretending to be the good guys and string the yams along for every penny and once they have drained them dry of cash they start to blame the Lithuanians and as there hands are tied boom Liquidation.

[Keith_M]

Just a quick question.


Does anybody think the whole 'We Need 3,000 More Season Tickets' ploy was so that BDO would be able to get paid?



Maybe one of the many Cropleys could answer the question



:duck:

[Lucius Apuleius]

Just a quick question.


Does anybody think the whole 'We Need 3,000 More Season Tickets' ploy was so that BDO would be able to get paid?



Maybe one of the many Copleys could answer the question



:duck:

:rules:

:greengrin I do like the idea of lots of Cropleys though.

[hibees 7062]

Has anyone told captain Danny yet ? :faf:

[TrickyNicky]

Just a quick question.


Does anybody think the whole 'We Need 3,000 More Season Tickets' ploy was so that BDO would be able to get paid?



Maybe one of the many Copleys could answer the question



:duck:

I can't get the image of all The Cropley's sitting around the table like The Waltons doing the math on Hearts CVA.

" Big Crop " ( AKA - JohnBoy ) signs off each night by writing on this thread, thus allowing us to sleep peacefully, knowing right from wrong!

[lapsedhibee]

Does anybody think the whole 'We Need 3,000 More Season Tickets' ploy was so that BDO would be able to get paid?

Maybe one of the many Copleys could answer the question



CopleyWasGod is on the fence for that one, I think. Or it might be another of them (Copleys that is, not fences.)

[matty_f]

One potential spanner in the works is that when the Rangers went the newco route, they lost their SPL share and the vote went against that being transferred to newco.
Then The Rangers had to apply for SFL membership and they started at the bottom.

There is no SPL/SFL now - it's the SPFL so we have a different set of circumstances now. I don't know what happens now, who decides on the transfer of membership?

[Part/Time Supporter]

One potential spanner in the works is that when the Rangers went the newco route, they lost their SPL share and the vote went against that being transferred to newco.
Then The Rangers had to apply for SFL membership and they started at the bottom.

There is no SPL/SFL now - it's the SPFL so we have a different set of circumstances now. I don't know what happens now, who decides on the transfer of membership?

The SPFL board. Any punishment attached to the transfer is entirely at their discretion.

[jacomo]

http://www.hmfckickback.co.uk/index.php?/topic/130043-hearts-awash-with-cash/

Where to begin. Seemingly they are covered in cash at Tynecastle, bathing in asses milk and the such. Never mind that the cash - an admirable amount as it may be - is flying out again immediately to service interest/pay wages etc etc (correct me if I'm wrong).

We will see what the future holds, but if it goes pop the delusion of some of these muppets is breathtaking.

Presumably the guy who started that thread is the same 'kiwidoug' who posts on the Scotsman site - he's a buffoon.

One of the replies has got it nearly right:


this thread makes us look like arrogant idiots

In fact, that entire forum makes the Yams look like arrogant idiots, but at least some recognition there.

[Jack]

BDO are merely floating the possibility of the NewCo route. If they are unable to make a CVA work, they are entitled to sell off the assets for the benefit of the creditors. If the advert floating about earlier this week is genuine, then they have already started that process.

Anyone can start up that NewCo. It's not, though, in BDO's power to assess whether you are a fit and proper person; that's the SFA's call. BDO will make a sale on the best commercial terms.

Thank you and to CB_NO3 too.

I get the impression the sale of oldco by BDO to mewco is a foregone conclusion.

What if a newco(s) just says stuff it and starts again at say Murrayfield? And another one starts up in Livvy and an other and an other?

All oldcos assets are sold - OK

Newco(s) as independent companies don't have to deal with BDO, or am I missing something?

To answer my own question I suppose it would be up to the football authorities to select which one along with any other applications.

[Part/Time Supporter]

Thank you and to CB_NO3 too.

I get the impression the sale of oldco by BDO to mewco is a foregone conclusion.

What if a newco(s) just says stuff it and starts again at say Murrayfield? And another one starts up in Livvy and an other and an other?

All oldcos assets are sold - OK

Newco(s) as independent companies don't have to deal with BDO, or am I missing something?

To answer my own question I suppose it would be up to the football authorities to select which one along with any other applications.

Getting way ahead of yourselves guys.

Most (if not all) of the buyers would only be interested on the basis of going through a CVA and being able to automatically retain the SPL place. Therefore BDO will continue to pursue the CVA route for at least the next month or two, as the cash raised allows them to continue trading.

BDO will only pursue the newco route if it continues to be impossible to secure the UBIG shares for sale and therefore a sale to a newco is the only way to raise funds for Ukio.

[Dunderhall]

Presumably the guy who started that thread is the same 'kiwidoug' who posts on the Scotsman site - he's a buffoon.

One of the replies has got it nearly right:


In fact, that entire forum makes the Yams look like arrogant idiots, but at least some recognition there.
They are calling him a hibs troll now. :rolleyes:
If only there was someone who could write a letter to complain.

[Dashing Bob S]

This is a really good post i agree with your findings and this should be sorted before the season starts so they can be demoted properly

You agree, fair enough; but I want to know how Sidney feels about this.

[21.05.2016]

It makes me laugh that over on keekback they are going on about how they have such a "fantastic support" for raising funds.

1) they have done **** all till now to try stop this as they were far to busy living in Vlad fantasy world

2) their lack of protest or rallying has been remarkable!

3) they have not done anything exceptional, nothing any other set of fans wouldn't do in the same predicament, in fact they have done less than most sets of fans would do!



Fantastic support eh? hahahahahaa oh please, don't embarrass yourselves, your support is deluded, arrogant and completely pathetic :faf::bye::jamboclow

[Gus Fring]

I'm glad Birch has come out now and clarified that the assets are still frozen cos the media have been missing that since March. How many times have they told the world that Hearts are close to being bought and now it comes out that it was never possible.

I've also noticed a reduction in posts that say "Hearts will wiggle out of this".

[21.05.2016]

I'm glad Birch has come out now and clarified that the assets are still frozen cos the media have been missing that since March. How many times have they told the world that Hearts are close to being bought and now it comes out that it was never possible.

I've also noticed a reduction in posts that say "Hearts will wiggle out of this".

The media have been woeful throughout this entire thing.

[jacomo]

It makes me laugh that over on keekback they are going on about how they have such a "fantastic support" for raising funds.

1) they have done **** all till now to try stop this as they were far to busy living in Vlad fantasy world

2) their lack of protest or rallying has been remarkable!

3) they have not done anything exceptional, nothing any other set of fans wouldn't do in the same predicament, in fact they have done less than most sets of fans would do!



Fantastic support eh? hahahahahaa oh please, don't embarrass yourselves, your support is deluded, arrogant and completely pathetic :faf::bye::jamboclow

They saved professional football for the world, according to Jack Alexander.

With the profits they are going to make from next year's World Cup, I am surprised FIFA hasn't authorised a special dispensation of £50m or so to bail Hearts out.

[Saorsa]

The media have been woeful throughout this entire thing.


Allisbarry#

[Part/Time Supporter]

I'm glad Birch has come out now and clarified that the assets are still frozen cos the media have been missing that since March. How many times have they told the world that Hearts are close to being bought and now it comes out that it was never possible.

I've also noticed a reduction in posts that say "Hearts will wiggle out of this".

Did he? From the quotes I have seen he only referred to the inability to contact anyone in charge at UBIG due to their strange "are they in administration or not?" situation.

eg quoted today in EEN:


But here [Scotland] you have to keep the same company and therefore you have to be able to deliver the shares, so you are going to UBIG and saying ‘will you sell the shares’ but at the moment there is nobody to speak for UBIG because they are in an insolvency process but they don’t yet have an administrator.

Until the administrators are appointed, we can’t do anything and, according to the lawyer acting for our administrators over there, that could be the end of July or even August before they are appointed. That is the real wrinkle in the process for us right now because it should be straightforward.

[Treadstone]

Getting way ahead of yourselves guys.

Most (if not all) of the buyers would only be interested on the basis of going through a CVA and being able to automatically retain the SPL place. Therefore BDO will continue to pursue the CVA route for at least the next month or two, as the cash raised allows them to continue trading.


:agree:

For all their (many) faults FoH will be the only one of current interested parties who would still be there if it was a Newco. I'd hesitate to call them buyers though more freeloaders.

[Treadstone]

Did he? From the quotes I have seen he only referred to the inability to contact anyone in charge at UBIG due to their strange "are they in administration or not?" situation.

He did on SSN.

[Haymaker]

He did on SSN.

Yep, said something about having to wait for those shares to be available when admin is confirmed.

[Geo_1875]

Why staggering? If a CVA doesn't work, it's the ONLY route to preserve a "Hearts".

If they have changed their tune in the past 2 weeks, it's probably in the light of the realisation that the frozen shares really are going to be a major issue.

Surely you mean create a new club called "Hertz".

[The Green Goblin]

You agree, fair enough; but I want to know how Sidney feels about this.

:greengrin. So do I. Does Bob though?

[CropleyWasGod]

CopleyWasGod is on the fence for that one, I think. Or it might be another of them (Copleys that is, not fences.)

Beat it :greengrin

[CropleyWasGod]

Surely you mean create a new club called "Hertz".

I do. Without getting into the whole "same club" argument, I meant what I said. If it's not a CVA, a Newco is the only way to preserve what some would call "Hearts".

[CropleyWasGod]

Thank you and to CB_NO3 too.

I get the impression the sale of oldco by BDO to mewco is a foregone conclusion.

What if a newco(s) just says stuff it and starts again at say Murrayfield? And another one starts up in Livvy and an other and an other?

All oldcos assets are sold - OK

Newco(s) as independent companies don't have to deal with BDO, or am I missing something?

To answer my own question I suppose it would be up to the football authorities to select which one along with any other applications.

I agree with PTS that it's too early to start assuming it's a Newco. The whole process of the CVA route has to be exhausted first.

However, in the scenario of a Newco....... there would only be one place in the SPFL up for grabs. It would be up to each NewCo to make a case for their admission to the SPFL. Along with Spartans, Gala, Hutchie Vale or whoever else fancied it.

[Waxy]

I agree with PTS that it's too early to start assuming it's a Newco. The whole process of the CVA route has to be exhausted first.

However, in the scenario of a Newco....... there would only be one place in the SPFL up for grabs. It would be up to each NewCo to make a case for their admission to the SPFL. Along with Spartans, Gala, Hutchie Vale or whoever else fancied it.Surely that's changed now with the formation of the lowland league.Spartans are already there.

[Keith_M]

Surely you mean create a new club called "Hertz".


I think some guy called Derek has an idea for a 'Heart of Lothian', though it sounds a bit Fishy to me




:wink:

[gramskiwood]

It makes me laugh that over on keekback they are going on about how they have such a "fantastic support" for raising funds.

1) they have done **** all till now to try stop this as they were far to busy living in Vlad fantasy world

2) their lack of protest or rallying has been remarkable!

3) they have not done anything exceptional, nothing any other set of fans wouldn't do in the same predicament, in fact they have done less than most sets of fans would do!



Fantastic support eh? hahahahahaa oh please, don't embarrass yourselves, your support is deluded, arrogant and completely pathetic :faf::bye::jamboclow


They've suckled at Vlads nipple too long.:greengrin

[poolman]

The SPFL board. Any punishment attached to the transfer is entirely at their discretion.


Wonder if the Tache will be on it :hmmm:

[Part/Time Supporter]

Wonder if the Tache will be on it :hmmm:

Nope, because he's a high heid-yin at the SFA.

http://www.eveningtelegraph.co.uk/sport/dundee-united/dundee-united-chairman-top-of-spfl-board-1.108010

Thompson (Dundee Utd)
Riley (Celtic)
Fraser (Aberdeen)
Gray (Hamilton Accies)
Mulraney (Cowdenbeath)
Darroch (Stenhousemuir)

[Stevie Reid]

It makes me laugh that over on keekback they are going on about how they have such a "fantastic support" for raising funds.

1) they have done **** all till now to try stop this as they were far to busy living in Vlad fantasy world

2) their lack of protest or rallying has been remarkable!

3) they have not done anything exceptional, nothing any other set of fans wouldn't do in the same predicament, in fact they have done less than most sets of fans would do!



Fantastic support eh? hahahahahaa oh please, don't embarrass yourselves, your support is deluded, arrogant and completely pathetic :faf::bye::jamboclow

Since they stayed in the SPL on the last day of the season in 2009-10, Kilmarnock have played some excellent football and their fans have seen their team finish in 5th, 7th and 9th in the league, whilst winning their first trophy in 15 years last year. They still desperately want Johnson out.

[Waxy]

could be a good idea to start buying the rights to hearts of lothian,the hearts,hertz of midlothian etc

[Waxy]

They've suckled at Vlads nipple too long.:greengrinnow he's taken it away they're wailing their lungs oot.

[grunt]

Plea by BDO for yet more money from Hearts fans http://www.heartsfc.co.uk/articles/20130704/bids-for-players-rejected_2241384_3228158

[kdhibees1]

now he's taken it away they're wailing their lungs oot. :top marks

[Saorsa]

Plea by BDO for yet more money from Hearts fans http://www.heartsfc.co.uk/articles/20130704/bids-for-players-rejected_2241384_3228158The piggy banks will be empty now, they'll have tae start stealing and mugging auld grannies.

[SaulGoodman]

'Top team stars'

:faf:

[seven nowt]

they're ****ed!

[McPhisto2]

breaking news

they're ****ed!

Care to divulge? Source? Anything!!!!???

[CropleyWasGod]

breaking news

they're ****ed!

It's hardly breaking news.

Hibs.net has had that exclusive for a few years now.

[HUTCHYHIBBY]

Plea by BDO for yet more money from Hearts fans http://www.heartsfc.co.uk/articles/20130704/bids-for-players-rejected_2241384_3228158

Time for medals' laddie to start robbing shopkeepers again!

[HibbySpurs]

They are calling him a hibs troll now. :rolleyes:
If only there was someone who could write a letter to complain.

:faf: :faf:

[JimBHibees]

'Top team stars'

:faf:

It would be really interesting to see who from and how much these supposed offers were.

[YehButNoBut]

FOH are 2,000 short of the target they had for funding, must have been all the Hibs fans who pledged. :greengrin

http://www.bbc.co.uk/sport/0/football/23181096

Foundation of Hearts confident they will meet bid deadline

The fans' group aiming to buy Hearts insist they will meet the 12 July deadline set by administrators. The Foundation of Hearts also said they had two options to finance their bid.

Foundation chairman Ian Murray MP claimed that almost 4,000 fans have converted pledges of support into direct debits - 2,000 short of their target. "We are nearly there and the Foundation will select the most appropriate route," he said.

Murray, the Labour member for Edinburgh South, added: "Should we be able to hit our own target for pledges we will in a position to draw down substantial capital to confirm a viable bid to take Hearts into the ownership of the people that matter most, the supporters."

The two funding options for the consortium remain confidential until after the deadline, but the group say both rely on securing as much financial support from individual fans as possible, coupled with partnerships with businesses.

Former Hearts captain Dave McPherson has also backed the Foundation's efforts. "I want to offer my complete support," he said. "I hope the Foundation can secure the very final pledges requires to make the sort of bid to the administrators that they consider most appropriate to the future of this club."

[Saorsa]

FOH are 2,000 short of the target they had for funding, must have been all the Hibs fans who pledged. :greengrin

http://www.bbc.co.uk/sport/0/football/23181096

Foundation of Hearts confident they will meet bid deadline

The fans' group aiming to buy Hearts insist they will meet the 12 July deadline set by administrators. The Foundation of Hearts also said they had two options to finance their bid.

Foundation chairman Ian Murray MP claimed that almost 4,000 fans have converted pledges of support into direct debits - 2,000 short of their target. "We are nearly there and the Foundation will select the most appropriate route," he said.

Murray, the Labour member for Edinburgh South, added: "Should we be able to hit our own target for pledges we will in a position to draw down substantial capital to confirm a viable bid to take Hearts into the ownership of the people that matter most, the supporters."

The two funding options for the consortium remain confidential until after the deadline, but the group say both rely on securing as much financial support from individual fans as possible, coupled with partnerships with businesses.

Former Hearts captain Dave McPherson has also backed the Foundation's efforts. "I want to offer my complete support," he said. "I hope the Foundation can secure the very final pledges requires to make the sort of bid to the administrators that they consider most appropriate to the future of this club."What a slavering twunt that Murray is.

:faf: :faf:

How anybody can take that seriously as an MP I'll never ken.

Have you offered any of yer dosh though Dave?

[Sammy7nil]

I'm glad Birch has come out now and clarified that the assets are still frozen cos the media have been missing that since March. How many times have they told the world that Hearts are close to being bought and now it comes out that it was never possible.

I've also noticed a reduction in posts that say "Hearts will wiggle out of this".

I think Hearts will Wiggle out of this :greengrin :wink:

[HibeeMG]

FOH are 2,000 short of the target they had for funding, must have been all the Hibs fans who pledged. :greengrin

http://www.bbc.co.uk/sport/0/football/23181096

Foundation of Hearts confident they will meet bid deadline

The fans' group aiming to buy Hearts insist they will meet the 12 July deadline set by administrators. The Foundation of Hearts also said they had two options to finance their bid.

Foundation chairman Ian Murray MP claimed that almost 4,000 fans have converted pledges of support into direct debits - 2,000 short of their target. "We are nearly there and the Foundation will select the most appropriate route," he said.

Murray, the Labour member for Edinburgh South, added: "Should we be able to hit our own target for pledges we will in a position to draw down substantial capital to confirm a viable bid to take Hearts into the ownership of the people that matter most, the supporters."

The two funding options for the consortium remain confidential until after the deadline, but the group say both rely on securing as much financial support from individual fans as possible, coupled with partnerships with businesses.

Former Hearts captain Dave McPherson has also backed the Foundation's efforts. "I want to offer my complete support," he said. "I hope the Foundation can secure the very final pledges requires to make the sort of bid to the administrators that they consider most appropriate to the future of this club."

Am I right in saying that they had said there was 6,000 pledges in total? That would mean they are looking for a 100% conversion rate for them.

Taking out the amount of 'not quite so honest' bids by us guys, that would have been a ridiculous target anyway.

There will also be a fair few genuine offers of pledges by Hearts fans who, having had time to sleep on it, have decided (or the Mrs has decided) that they can't justify it.

[HUTCHYHIBBY]

No she's not my cousin and not his personal secretary. I was making a point that it's not really Hibs class calling her a "munter" IMO. You never know who's looking in and there was no need for it.

Thats very precious of you.

[Treadstone]

It would be really interesting to see who from and how much these supposed offers were.

I've already filed it with Peter Lawells response to Sevco knocking back a Jelavic bid. Something about £29m and outer space for Gary Hooper.

[#FromTheCapital]

It would be really interesting to see who from and how much these supposed offers were.

The offers would have been for next to nothing because:

a) Hearts in administration declined them
b) They don't have any players worth more than a bag of pick n mix
c) Clubs would just be testing the water with first offers, knowing full well that theres a chance they could get the players for nothing in the near future

[Dashing Bob S]

:greengrin. So do I. Does Bob though?

Bob was undecided the last time we spoke.

[therealgavmac]

Surely you mean create a new club called "Hertz".


And their first attempt at a signing would be that Dutch boy.... van Rentle :wink:

[SanFranHibs]

I can't get the image of all The Cropley's sitting around the table like The Waltons doing the math on Hearts CVA.

" Big Crop " ( AKA - JohnBoy ) signs off each night by writing on this thread, thus allowing us to sleep peacefully, knowing right from wrong!

We have the newco Waltons...the Dalton's of Gorgie. The family tha put the crap into scrap!

My only concern is, if Cropley was God and now God was Cropley...who the hell was their boss, Turnbull?

I really don't care about 1-5 and 1902.......and by that I mean we can always look ahead as Hibernian Football Club to next season. We have 0-7, 6-2. Every team, including Hearts, can recover from single game 'humiliations'.

You can keep your 1-5, 1902, administration, cake bake sales, piggy bank raids. They are NOT worth a prolonged period on a life support machine. Someone turn it off and save BDO a few quid on electicity bills.

I am here in Paris at the moment and at many ATM's there are beggars with their sad faces and littlle paper cups....I'm sure it is FOH 'officials'!

:flag:

[jdships]

And their first attempt at a signing would be that Dutch boy.... van Rentle :wink:

Could then HERTZ van RENTLE :wink:
and his sister would be
AVIS van RENTLE

[Hibs07p]

...is sufficient punishment for HMFC (IA).
Looking ahead to the BDO deadline on "the glorious 12th of July" for bids for HMFC (IA), the SFA notice of complaint served on HMFC (IA), and the reply to the SFA within 7 days, and subsequent hearing to be heard on the 18th of July. The noises coming from BDO about newco scenarios doesn't bode well for their forthcoming meeting with the SFA. I'm sure the SFA will be looking for guarantees that HMFC (IA) will be able to complete their fixtures, ( unless that is something only the SPFL will decide on ) in the coming season. If the admins can't give that assurance, I think the SFA will suspend their membership for a year. Any reason why that will / won't happen?

GGTTH

[Geo_1875]

...is sufficient punishment for HMFC (IA).
Looking ahead to the BDO deadline on "the glorious 12th of July" for bids for HMFC (IA), the SFA notice of complaint served on HMFC (IA), and the reply to the SFA within 7 days, and subsequent hearing to be heard on the 18th of July. The noises coming from BDO about newco scenarios doesn't bode well for their forthcoming meeting with the SFA. I'm sure the SFA will be looking for guarantees that HMFC (IA) will be able to complete their fixtures, ( unless that is something only the SPFL will decide on ) in the coming season. If the admins can't give that assurance, I think the SFA will suspend their membership for a year. Any reason why that will / won't happen?

GGTTH

Because they're an big establishment team who have been "punished" enough and the football authorities need them in the top league or we're all doomed, doomed I tell you.

[CropleyisGod]

I can't get the image of all The Cropley's sitting around the table like The Waltons doing the math on Hearts CVA.

" Big Crop " ( AKA - JohnBoy ) signs off each night by writing on this thread, thus allowing us to sleep peacefully, knowing right from wrong!

Clearly as I am still God and the real accountant 'was' God then I outrank him even though he knows more :wink: Even as God I can't get my head round GodisCropley (if there is one) although I still think I outrank GodwasCropley . I think we might need to invoke more deities, Alex was that good a player!

I'll shut up now because we have Yams to keep up to date with reality...:greengrin

[Geo_1875]

FOH are 2,000 short of the target they had for funding, must have been all the Hibs fans who pledged. :greengrin

http://www.bbc.co.uk/sport/0/football/23181096

Foundation of Hearts confident they will meet bid deadline

The fans' group aiming to buy Hearts insist they will meet the 12 July deadline set by administrators. The Foundation of Hearts also said they had two options to finance their bid.

Foundation chairman Ian Murray MP claimed that almost 4,000 fans have converted pledges of support into direct debits - 2,000 short of their target. "We are nearly there and the Foundation will select the most appropriate route," he said.

Murray, the Labour member for Edinburgh South, added: "Should we be able to hit our own target for pledges we will in a position to draw down substantial capital to confirm a viable bid to take Hearts into the ownership of the people that matter most, the supporters."

The two funding options for the consortium remain confidential until after the deadline, but the group say both rely on securing as much financial support from individual fans as possible, coupled with partnerships with businesses.

Former Hearts captain Dave McPherson has also backed the Foundation's efforts. "I want to offer my complete support," he said. "I hope the Foundation can secure the very final pledges requires to make the sort of bid to the administrators that they consider most appropriate to the future of this club."

How dare they put his photo in the article without a warning to the reader. I nearly brought my lunch back up. He really is a typical jambo.

[Geo_1875]

Clearly as I am still God and the real accountant 'was' God then I outrank him even though he knows more :wink: Even as God I can't get my head round GodisCropley (if there is one) although I still think I outrank GodwasCropley . I think we might need to invoke more deities, Alex was that good a player!

I'll shut up now because we have Yams to keep up to date with reality...:greengrin

Isn't that always the way?

[Dunderhall]

Trevor Birch in todays EEN (http://www.scotsman.com/sport/football/spl/hearts-administrator-thanks-supporters-1-2988954). (removed yam consoling parts)

BDO’s Trevor Birch today insisted it was back to ‘business as normal’ at Hearts – but warned that the administration process at the club could still take until the turn of the year to complete.

In that respect it has been straightforward and the cash which has been generated now gives us the opportunity to sit down with the interested parties and gets us through to August when the SPL will deliver the first tranche of their money. That, with a fair wind, could take us through to Christmas.

We have got to be realistic though, these sales don’t happen quickly.

The eventual sale of the club will not be an easy process given that UBIG, who along with sister company Ukio Bankas, own 79 per cent of Hearts shares and are owed £10million by the Gorgie side, claim they are insolvent, while Ukio Bankas, who are owed £15m, are in administration.
That means there is no one person for BDO to communicate with when it comes to the transfer of the shares they hold in Hearts. Birch believes there are three or four serious bidders around the table but reckons the process of taking over the club could be drawn out.

He suggested that, in the worst-case scenario, Hearts could just be emerging from administration in time for the January transfer window but is hoping that it will prove to be a much quicker process.
That, however, all depends on matters in Lithuania being resolved over the course of the next few weeks. And Birch admitted: “I would like to think that we would be out of administration by the window in January, but you just can’t call it.
“It may be quicker. If the administrator is appointed over there quickly then they might say ‘there is absolutely no value, go and sell the shares’ and the interested party is in a position to move quickly, then it could all happen sooner than we think.
“The earliest it could happen is three months because of the process of the administration of the CVA.

At best guess, it is going to be three or four months and then you build in the difficulties in trying to deliver the shares.
The problem is that, unlike in England, where you can set up a newco and buy the assets of a company that has gone into administration and then the football league transfer the membership to the newco, you don’t then need to deal with the owner, it bypasses the owner. “But here you have to keep the same company and therefore you have to be able to deliver the shares, so you are going to UBIG and saying ‘will you sell the shares’ but at the moment there is nobody to speak for UBIG because they are in an insolvency process but they don’t yet have an administrator.
“Until the administrators are appointed, we can’t do anything and, according to the lawyer acting for our administrators over there, that could be the end of July or even August before they are appointed.

[Geo_1875]

Trevor Birch in todays EEN (http://www.scotsman.com/sport/football/spl/hearts-administrator-thanks-supporters-1-2988954). (removed yam consoling parts)

BDO’s Trevor Birch today insisted it was back to ‘business as normal’ at Hearts – but warned that the administration process at the club could still take until the turn of the year to complete.

In that respect it has been straightforward and the cash which has been generated now gives us the opportunity to sit down with the interested parties and gets us through to August when the SPL will deliver the first tranche of their money. That, with a fair wind, could take us through to Christmas.

We have got to be realistic though, these sales don’t happen quickly.

The eventual sale of the club will not be an easy process given that UBIG, who along with sister company Ukio Bankas, own 79 per cent of Hearts shares and are owed £10million by the Gorgie side, claim they are insolvent, while Ukio Bankas, who are owed £15m, are in administration.
That means there is no one person for BDO to communicate with when it comes to the transfer of the shares they hold in Hearts. Birch believes there are three or four serious bidders around the table but reckons the process of taking over the club could be drawn out.

He suggested that, in the worst-case scenario, Hearts could just be emerging from administration in time for the January transfer window but is hoping that it will prove to be a much quicker process.
That, however, all depends on matters in Lithuania being resolved over the course of the next few weeks. And Birch admitted: “I would like to think that we would be out of administration by the window in January, but you just can’t call it.
“It may be quicker. If the administrator is appointed over there quickly then they might say ‘there is absolutely no value, go and sell the shares’ and the interested party is in a position to move quickly, then it could all happen sooner than we think.
“The earliest it could happen is three months because of the process of the administration of the CVA.

At best guess, it is going to be three or four months and then you build in the difficulties in trying to deliver the shares.
The problem is that, unlike in England, where you can set up a newco and buy the assets of a company that has gone into administration and then the football league transfer the membership to the newco, you don’t then need to deal with the owner, it bypasses the owner. “But here you have to keep the same company and therefore you have to be able to deliver the shares, so you are going to UBIG and saying ‘will you sell the shares’ but at the moment there is nobody to speak for UBIG because they are in an insolvency process but they don’t yet have an administrator.
“Until the administrators are appointed, we can’t do anything and, according to the lawyer acting for our administrators over there, that could be the end of July or even August before they are appointed.

I hope they are not relying on the SPL for money. Or did nobody tell them?

[hibs0666]

Not content with giving the Bosch a good biff on the nose not once but twice, the yams have vanquished the pirates of the South China Sea. Strips are now on sale.

[CropleyWasGod]

I hope they are not relying on the SPL for money. Or did nobody tell them?

Hmmm.... this is significant in some ways.

One of the things about the "asset sale" advert was the fact that it referred to an "SPL" club. For that, and other reasons, I was sceptical about whether it was genuine. However, if TB is using that term (albeit loosely), then I can understand that that loose talk may have found its way into the advert.

It's not very impressive, though.

[greengnome]

http://www.hibs.net/images/hibsnet/misc/quote_icon.png Originally Posted by Dunderhall http://www.hibs.net/images/hibsnet/buttons/viewpost-right.png (http://www.hibs.net/showthread.php?p=3664504#post3664504)
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://)
Trevor Birch in todays EEN (http://www.scotsman.com/sport/football/spl/hearts-administrator-thanks-supporters-1-2988954). (removed yam consoling parts)

BDO’s Trevor Birch today insisted it was back to ‘business as normal’ at Hearts – but warned that the administration process at the club could still take until the turn of the year to complete.

In that respect it has been straightforward and the cash which has been generated now gives us the opportunity to sit down with the interested parties and gets us through to August when the SPL will deliver the first tranche of their money. That, with a fair wind, could take us through to Christmas.

We have got to be realistic though, these sales don’t happen quickly.

The eventual sale of the club will not be an easy process given that UBIG, who along with sister company Ukio Bankas, own 79 per cent of Hearts shares and are owed £10million by the Gorgie side, claim they are insolvent, while Ukio Bankas, who are owed £15m, are in administration.
That means there is no one person for BDO to communicate with when it comes to the transfer of the shares they hold in Hearts. Birch believes there are three or four serious bidders around the table but reckons the process of taking over the club could be drawn out.

He suggested that, in the worst-case scenario, Hearts could just be emerging from administration in time for the January transfer window but is hoping that it will prove to be a much quicker process.
That, however, all depends on matters in Lithuania being resolved over the course of the next few weeks. And Birch admitted: “I would like to think that we would be out of administration by the window in January, but you just can’t call it.
“It may be quicker. If the administrator is appointed over there quickly then they might say ‘there is absolutely no value, go and sell the shares’ and the interested party is in a position to move quickly, then it could all happen sooner than we think.
“The earliest it could happen is three months because of the process of the administration of the CVA.

At best guess, it is going to be three or four months and then you build in the difficulties in trying to deliver the shares.
The problem is that, unlike in England, where you can set up a newco and buy the assets of a company that has gone into administration and then the football league transfer the membership to the newco, you don’t then need to deal with the owner, it bypasses the owner. “But here you have to keep the same company and therefore you have to be able to deliver the shares, so you are going to UBIG and saying ‘will you sell the shares’ but at the moment there is nobody to speak for UBIG because they are in an insolvency process but they don’t yet have an administrator.
“Until the administrators are appointed, we can’t do anything and, according to the lawyer acting for our administrators over there, that could be the end of July or even August before they are appointed.





I hope they are not relying on the SPL for money. Or did nobody tell them?


Tranche of money......Fair winds.....!!!!!! This is definitely getting too technical for me.... :wink:

[kdhibees1]

When the SPL will deliver the first ''tache''
Sealed with a loving kiss from Rodders, enclosed in the envelope is 7 pence!

[sidneyhibbie]

It makes me laugh that over on keekback they are going on about how they have such a "fantastic support" for raising funds.

1) they have done **** all till now to try stop this as they were far to busy living in Vlad fantasy world

2) their lack of protest or rallying has been remarkable!

3) they have not done anything exceptional, nothing any other set of fans wouldn't do in the same predicament, in fact they have done less than most sets of fans would do!



Fantastic support eh? hahahahahaa oh please, don't embarrass yourselves, your support is deluded, arrogant and completely pathetic :faf::bye::jamboclow


Apart from kicking the odd Russian Hat around they followed mad vlad as if he was the Pied Piper even wanting to build a statue of in their words " The Great Man "

[BT58]

Foulkes talking to jim white
The way theyre talking ,foulkes is the great saviour
Hes talking to liths hes talking to ambassadors
Hes talking about cups (nae 5-1,1902 tho)
Hopefully the liths will tell him were to go
Bt

[Saorsa]

Apart from kicking the odd Russian Hat around they followed mad vlad as if he was the Pied Piper even wanting to build a statue of in their words " The Great Man "what dae you mean as if? :greengrin

http://i39.tinypic.com/flzr46.gif

[greengnome]

what dae you mean as if? :greengrin

http://i39.tinypic.com/flzr46.gif


:top marks

[kdhibees1]

what dae you mean as if? :greengrin

http://i39.tinypic.com/flzr46.gif :not worth:applause: In yer Gorgie slums, in yer Gorgie slums. Ye's all loved mad Vlad, aye ye thought he was sweet. Now your club's gone tae the wall cause of his UKIO'S balance sheets..... In yer yer Gorgie slums!!!

[Saorsa]

anybody want tae take a guess at what the rats represent? :greengrin

[greengnome]

anybody want tae take a guess at what the rats represent? :greengrin



Pishybreeks and the 400,000 mobilised faithful...?

[jdships]

Yep, certainly inspired me, if I could invent any more half way credible names I'd make even more pledges, as one poster above says, they are a busted flush. The FOH were just way to slow to move unless of course they have got BDO to wait for them to catch up.

Absolutely !
OK they have/will have funds to buy the club but where is the money coming from to run the Hearts on a weekly basis ?
Season ticket money will be gone , part of the sponsorship money has gone
" Walk up" payers won't raise enough money to ensure cash flow so where is the " sugar daddy " coming from - Mr Murray MP perhaps
There is definately a hell of a lot of " spin" going on here !!!!:greengrin

[Saorsa]

Pishybreeks and the 400,000 mobilised faithful...?Damn, I was hoping that would be tricky yin. :greengrin almost right, swap mobilised faithful for roasters and you're bang on.

[Saorsa]

Absolutely !
OK they have/will have funds to buy the club but where is the money coming from to run the Hearts on a weekly basis ?
Season ticket money will be gone , part of the sponsorship money has gone
" Walk up" payers won't raise enough money to ensure cash flow so where is the " sugar daddy " coming from - Mr Murray MP perhaps
There is definately a hell of a lot of " spin" going on here !!!!:greengrinis that the same as bull ****ting? :greengrin

[greengnome]

Damn, I was hoping that would be tricky yin. :greengrin almost right, swap mobilised faithful for roasters and you're bang on.


Roasters... I stand corrected Sir.... :agree:




:flag::flag::flag: :thumbsup:

[cabbageandribs1875]

http://www.bbc.co.uk/sport/0/football/23181096


Q. why do most hertz fans look like wee cling-ons :confused:

Former Hearts captain Dave McPherson has also backed the Foundation's efforts. "I want to offer my complete support," he said. "I hope the Foundation can secure the very final pledges requires to make the sort of bid to the administrators that they consider most appropriate to the future of this club."

good old Donkey Dave, i reckon that's hertz saved now :(

[Waxy]

Absolutely !
OK they have/will have funds to buy the club but where is the money coming from to run the Hearts on a weekly basis ?
Season ticket money will be gone , part of the sponsorship money has gone
" Walk up" payers won't raise enough money to ensure cash flow so where is the " sugar daddy " coming from - Mr Murray MP perhaps
There is definately a hell of a lot of " spin" going on here !!!!:greengrinI'd be happy if the foh get the club.
Huge downsizing would happen.
They'd probably end up a first division size club.

[sidneyhibbie]

what dae you mean as if? :greengrin

http://i39.tinypic.com/flzr46.gif

Anyone able to put yam tops on the rats :aok:

[Treadstone]

Think we are getting away from the real question here.

Was Cropley God ?

[HibbySpurs]

Apart from kicking the odd Russian Hat around they followed mad vlad as if he was the Pied Piper even wanting to build a statue of in their words " The Great Man "

He is the "Great Man", just not for the yams :greengrin:cb

[kdhibees1]

Anyone able to put yam tops on the rats :aok: Not quite but best I can do....
The 'Trumpets Trumpeteer'
http://img5.imageshack.us/edit_preview.php?l=img5/5914/pi7r.jpg&action=rotate

[Kaiser1962]

I agree with PTS that it's too early to start assuming it's a Newco. The whole process of the CVA route has to be exhausted first.

However, in the scenario of a Newco....... there would only be one place in the SPFL up for grabs. It would be up to each NewCo to make a case for their admission to the SPFL. Along with Spartans, Gala, Hutchie Vale or whoever else fancied it.

Wouldnt a Newco be very difficult to implement once the season is underway with Hearts in it? The longer its gone the worse it would be.

[HibbySpurs]

Not quite but best I can do....
The 'Trumpets Trumpeteer'
http://img5.imageshack.us/edit_preview.php?l=img5/5914/pi7r.jpg&action=rotate
That'll do nicely sir :top marks

[easty]

http://www.bbc.co.uk/news/uk-scotland-edinburgh-east-fife-23183207

Anyone got any suggestions for this? How about killed by Professor Plumanov in the Pink Wongadome with Financial Mismanagement???

[greengnome]

He is the "Great Man", just not for the yams :greengrin:cb




Nah..... Pishybreeks is the saviour now.... Or it could be "I'm an MP" Murray... 2 classic roasters! :greengrin

[Kato]

2 classic roasters! :greengrin


That's not fair actually. Foulkes has had years of experience of having his schnoize hidden deep in the troughs of our country's institutions. Murray is a mere sapling when it comes to nasal camouflage, although the signs are promising. Foulkes has got that rounded, salty, fraying at the edges a lour of a roaster "expenced" up to point of bursting whilst Murrays' merely chunky. Foulkes - your classic roaster, the roaster's roaster, Murray's just a roaster.

[greengnome]

That's not fair actually. Foulkes has had years of experience of having his schnoize hidden deep in the troughs of our country's institutions. Murray is a mere sapling when it comes to nasal camouflage, although the signs are promising. Foulkes has got that rounded, salty, fraying at the edges a lour of a roaster "expenced" up to point of bursting whilst Murray merely chunky. Foulkes your classic roaster, the roaster's roaster, Murray's just a roaster.



:faf:........ Excellent !!!! Sides are sore laughing... :greengrin

[kdhibees1]

That's not fair actually. Foulkes has had years of experience of having his schnoize hidden deep in the troughs of our country's institutions. Murray is a mere sapling when it comes to nasal camouflage, although the signs are promising. Foulkes has got that rounded, salty, fraying at the edges a lour of a roaster "expenced" up to point of bursting whilst Murrays' merely chunky. Foulkes - your classic roaster, the roaster's roaster, Murray's just a roaster.
Brilliant!!!:aok:

[greengnome]

That's not fair actually. Foulkes has had years of experience of having his schnoize hidden deep in the troughs of our country's institutions. Murray is a mere sapling when it comes to nasal camouflage, although the signs are promising. Foulkes has got that rounded, salty, fraying at the edges a lour of a roaster "expenced" up to point of bursting whilst Murrays' merely chunky. Foulkes - your classic roaster, the roaster's roaster, Murray's just a roaster.



Your classic roaster's roaster.. :cb

http://www1.skysports.com/watch/video/sports/football/competitions/scottish-football/8805971/lord-foulkes-confident-hearts-will-find-buyer

[Kato]

Your classic roaster's roaster.. :cb

http://www1.skysports.com/watch/video/sports/football/competitions/scottish-football/8805971/lord-foulkes-confident-hearts-will-find-buyer

:greengrin:greengrin

He's backing FoH. Given his track record in who he's backed, I'm backing them as well.

[jacomo]

Your classic roaster's roaster.. :cb

http://www1.skysports.com/watch/video/sports/football/competitions/scottish-football/8805971/lord-foulkes-confident-hearts-will-find-buyer

"I understand there are three or four serious bidders."

Well done George, you've watched the news too.

:hilarious

Jim: "You supported Romanov when he took over, you must regret that now."

FF: "No. It's been a rollercoaster, we've had ups as well as downs."

:bye

[Saorsa]

Your classic roaster's roaster.. :cb

http://www1.skysports.com/watch/video/sports/football/competitions/scottish-football/8805971/lord-foulkes-confident-hearts-will-find-buyerMaybe he could help find the buyer :faf: :faf: ****in' fat tosser

[jacomo]

:greengrin:greengrin

He's backing FoH. Given his track record in who he's backed, I'm backing them as well.

:thumbsup:

[Greentinted]

:agree:

For all their (many) faults FoH will be the only one of current interested parties who would still be there if it was a Newco. I'd hesitate to call them buyers though more freeloaders.

Well, if the cap fits and all that...


...'Freeloading Parasites of Midlothian' has a certain ring to it.

[Kato]

http://www1.skysports.com/watch/video/sports/football/competitions/scottish-football/8805971/lord-foulkes-confident-hearts-will-find-buyer


Just got to the end of that. No wonder people are turned off politics in this country. What an annoying little man. No shame at all these people.

[greengnome]

Just got to the end of that. No wonder people are turned off politics in this country. What an annoying little man. No shame at all these people.



SHAME..... He couldn't spell the word!!!! :greengrin

[Saorsa]

George 'pishy breeks fatty' Foulkes
http://i41.tinypic.com/ynlsm.jpg




Romanov represents the hope for the future of hearts and I urge the clubs major shareholders not to price the Lithuanian banker out of a deal, otherwise "they'll never be forgiven by the fans"

I've dealt with Romanov. I've had two meetings with him. He and his people are very positive. Everything they've said they'll do, they've done. They're straightforward and they've got the money behind themOther peoples money but never mind eh!

[SaulGoodman]

That's not fair actually. Foulkes has had years of experience of having his schnoize hidden deep in the troughs of our country's institutions. Murray is a mere sapling when it comes to nasal camouflage, although the signs are promising. Foulkes has got that rounded, salty, fraying at the edges a lour of a roaster "expenced" up to point of bursting whilst Murrays' merely chunky. Foulkes - your classic roaster, the roaster's roaster, Murray's just a roaster.

Just spat my [beverage] all over my [expensive electrical gadget]

[CropleyWasGod]

Wouldnt a Newco be very difficult to implement once the season is underway with Hearts in it? The longer its gone the worse it would be.

Impossible, I'd say.

[Sir David Gray]

The fact that Foulkes is having such a big involvement in this process is giving me hope that it's all going to go pear shaped in the very near future.

[greengnome]

Just spat my [beverage] all over my [expensive electrical gadget]



I hope KATO apologises to you then.....? :greengrin My sides are still sore from laughing...:wink:

[Dashing Bob S]

The fact that Foulkes is having such a big involvement in this process is giving me hope that it's all going to go pear shaped in the very near future.

Yes, the last thing you need when you're in the dire set of circumstances they are, is for that blustering, bumbling, pompous, self-regarding, urine-trousered oaf to come staggering in making ludicrous declarations, in search of free drinks and pats on the back from idiots.

Bring it on Georgie!

[greengnome]

The fact that Foulkes is having such a big involvement in this process is giving me hope that it's all going to go pear shaped in the very near future.



:aok:...... Any shape will do for me.. Pear / rotund / square. Pishy breeks knows a good thing when he sees it, just ask Romanov!!!! :greengrin

[rcarter1]

Your classic roaster's roaster.. :cb

http://www1.skysports.com/watch/video/sports/football/competitions/scottish-football/8805971/lord-foulkes-confident-hearts-will-find-buyer

'Do it for those Hearts supporters......' :violin:

No mention that the Lithuanians will have foot the bill. I hope this Lithuanian ambassador is playing a careful game of 'now you see them - now you dont'.

I really like the derby and have great banter with many Jambos, but this club is a puss filled boil.

[#FromTheCapital]

Yes, the last thing you need when you're in the dire set of circumstances they are, is for that blustering, bumbling, pompous, self-regarding, urine-trousered oaf to come staggering in making ludicrous declarations, in search of free drinks and pats on the back from idiots.

Bring it on Georgie!

:top marks

[Jack]

Yes, the last thing you need when you're in the dire set of circumstances they are, is for that blustering, bumbling, pompous, self-regarding, urine-trousered oaf to come staggering in making ludicrous declarations, in search of free drinks and pats on the back from idiots.

Bring it on Georgie!

You forgot the ars-onist bit.

[Fat Penlon]

Refused bids for 2 players because they have enough money now aye? Why not try accepting the bids and paying the council or the police the money you are due them!!!! TRAMPS

BDO looking out for the creditors? Most teams that go into admin have to release all their players never mind actually getting offered money for them and the admins turn it down! and then signed a player to add to the wage bill.

I remember people arguing about the system being wrong during the sevco debacle. I think this case has confirmed that the system needs addressed.

[Part/Time Supporter]

Refused bids for 2 players because they have enough money now aye? Why not try accepting the bids and paying the council or the police the money you are due them!!!! TRAMPS

Because it would be illegal to give preference for some creditors over others.


BDO looking out for the creditors? Most teams that go into admin have to release all their players never mind actually getting offered money for them and the admins turn it down! and then signed a player to add to the wage bill.

I remember people arguing about the system being wrong during the sevco debacle. I think this case has confirmed that the system needs addressed.

What you are describing is liquidation, not administration.

[Fat Penlon]

Because it would be illegal to give preference for some creditors over others.



What you are describing is liquidation, not administration.

Motherwell?

[Part/Time Supporter]

Motherwell?

Motherwell had a massive squad when their administrator (who happens to be one of the guys now running Hearts) was appointed. They had to make loads of players redundant to bring the wage bill down to a level which they could afford. In effect Hearts had already done most of that by releasing several players at the end of last season. If an administrator had been appointed at Hearts (say) six months ago, there would have been several players made redundant immediately.

[HUTCHYHIBBY]

Just spat my [beverage] all over my [expensive electrical gadget]

Its a worrying and increasingly popular tendency on here these days!

[Fat Penlon]

Motherwell had a massive squad when their administrator (who happens to be one of the guys now running Hearts) was appointed. They had to make loads of players redundant to bring the wage bill down to a level which they could afford. In effect Hearts had already done most of that by releasing several players at the end of last season. If an administrator had been appointed at Hearts (say) six months ago, there would have been several players made redundant immediately.

I realise they cannot just pay random creditors it was more of a swipe at their long term lack of morals.

I take your point about Motherwell but with no end game in sight because of the shares being tied up the admins might need to make the money they have along with the spfl money last them all season. If that is the case they will still need to generate cash at every opportunity no?

[hibs4thecup1988]

I'm going to be honest I was one that thought they would be getting away with it all.

Surely of no bids become apparent next week, and they don't get a huge influx of cash then BDO will say game over and cut their losses, sell the stadium take their fee and say good riddance. Or am I making too much out of the date?

[Part/Time Supporter]

I'm going to be honest I was one that thought they would be getting away with it all.

Surely of no bids become apparent next week, and they don't get a huge influx of cash then BDO will say game over and cut their losses, sell the stadium take their fee and say good riddance. Or am I making too much out of the date?

Almost certainly yes.

[poolman]

I can't believe that odious pish stained breeks ****in walloper had the brass neck to go on national TV with that guff

I noticed he dismissed almost immediately when White ( another Erse ) asked him about bringing in mad Vlad to ramble on about cups and rivals not being able to do that

The arrogance is absolutely astounding and a slap in his kisser is the least he deserves

[CropleyWasGod]

I realise they cannot just pay random creditors it was more of a swipe at their long term lack of morals.

I take your point about Motherwell but with no end game in sight because of the shares being tied up the admins might need to make the money they have along with the spfl money last them all season. If that is the case they will still need to generate cash at every opportunity no?

They might have to change their strategy, as circumstances change, like any business. However, they have a duty to try and obtain a CVA, and their current thoughts are driven by that. If it looks like that will be delayed, or indeed impossible, then of course things should change.

As a side note, as with Rangers, football is different to other businesses. For many non-football businesses, the value to a prospective buyer often lies in things like its product, or its "name". In Hearts and Rangers case, the value lies in its ability to be successful on the park... ie its players. To obtain the best possible outcome in a CVA, therefore, there has to be some attention paid to the strength of the playing squad.

[Fat Penlon]

They might have to change their strategy, as circumstances change, like any business. However, they have a duty to try and obtain a CVA, and their current thoughts are driven by that. If it looks like that will be delayed, or indeed impossible, then of course things should change.

As a side note, as with Rangers, football is different to other businesses. For many non-football businesses, the value to a prospective buyer often lies in things like its product, or its "name". In Hearts and Rangers case, the value lies in its ability to be successful on the park... ie its players. To obtain the best possible outcome in a CVA, therefore, there has to be some attention paid to the strength of the playing squad.


I hate it when people talk sense! :-)

[CropleyWasGod]

I hate it when people talk sense! :-)

Me too.... that's why I love Hibs.net so much. :greengrin

[jgl07]

I'm going to be honest I was one that thought they would be getting away with it all.

Surely of no bids become apparent next week, and they don't get a huge influx of cash then BDO will say game over and cut their losses, sell the stadium take their fee and say good riddance. Or am I making too much out of the date?

There may be a point there.

The last thing the SPFL want is a team going bust mid-season.

The 12 July is proabably as late as you can go before changing the content of the Leagues. That would mean Morton being promoted and adjustments down the way including signing up a new team for SPFL2. A Newco is unlikely to be in place by then to take up that slot. So unlessthere is a firm bid on the table with real money by then, I think that the plug wil be pulled.

The talk of staggering on until January in the hope that a sale can be arranged by then is all rather speculative. TheSPFL will probably have to pay to keep Hearts on life support until the end of the season as they did with Gretna a few years back.

[CropleyWasGod]

There may be a point there.

The last thing the SPFL want is a team going bust mid-season.

The 12 July is proabably as late as you can go before changing the content of the Leagues. That would mean Morton being promoted and adjustments down the way including signing up a new team for SPFL2. A Newco is unlikely to be in place by then to take up that slot. So unlessthere is a firm bid on the table with real money by then, I think that the plug wil be pulled.

The talk of staggering on until January in the hope that a sale can be arranged by then is all rather speculative. TheSPFL will probably have to pay to keep Hearts on life support until the end of the season as they did with Gretna a few years back.

.... which may be the reason for the (alleged) advert for the sale of the assets, which hasn't (I think) been mentioned in MSM yet.

Edit...having googled it, I am even more sceptical about that advert. The press release has been picked up by non-UK outlets, like the Wall Street Journal and the Telegraph of India. It describes them as "Hearts of Midlothian".

Edit edit.... I think BusinessesForSale have pulled the ad.

[hibs4thecup1988]

There may be a point there.

The last thing the SPFL want is a team going bust mid-season.

The 12 July is proabably as late as you can go before changing the content of the Leagues. That would mean Morton being promoted and adjustments down the way including signing up a new team for SPFL2. A Newco is unlikely to be in place by then to take up that slot. So unlessthere is a firm bid on the table with real money by then, I think that the plug wil be pulled.

The talk of staggering on until January in the hope that a sale can be arranged by then is all rather speculative. TheSPFL will probably have to pay to keep Hearts on life support until the end of the season as they did with Gretna a few years back.

That's what I mean. You just put it better.

Surely the spfl won't want to risk them folding in january. I think BDO want the spfl to make the decision for them personally. But if they muster through to beginning of august and then fold surely there will be no hearts playing football next season at all?

[brog]

They might have to change their strategy, as circumstances change, like any business. However, they have a duty to try and obtain a CVA, and their current thoughts are driven by that. If it looks like that will be delayed, or indeed impossible, then of course things should change.

As a side note, as with Rangers, football is different to other businesses. For many non-football businesses, the value to a prospective buyer often lies in things like its product, or its "name". In Hearts and Rangers case, the value lies in its ability to be successful on the park... ie its players. To obtain the best possible outcome in a CVA, therefore, there has to be some attention paid to the strength of the playing squad.


CWG is it not the case that BDO have a duty to obtain the best possible deal for shareholders/creditors & we're making the assumption that a CVA is the best way to accomplish this scenario? However if someone turned up & said I'll give you £xx million for Yams assets including PBS but I have no interest in owning a football club then that would be best case scenario for shareholders & BDO would be duty bound to accept? Yams no more, shame!

[CropleyWasGod]

CWG is it not the case that BDO have a duty to obtain the best possible deal for shareholders/creditors & we're making the assumption that a CVA is the best way to accomplish this scenario? However if someone turned up & said I'll give you £xx million for Yams assets including PBS but I have no interest in owning a football club then that would be best case scenario for shareholders & BDO would be duty bound to accept? Yams no more, shame!

I love this medium for setting challenging questions.... so much healthier than MSM.:wink:

In all of this, I often have to remind myself of what the law says. I've just had to do that again:-

The three Administration statutory purposes (or required outcomes) are:


- Rescuing the company as a going concern. (Note: this purpose is to rescue the company as opposed to rescuing the business undertaken by the company.)

- Or, achieving a better result for the company's creditors as a whole than would be likely if the company were wound up (without first being in administration).

- Or, realising property to make a distribution to one or or more secured or preferential creditors.

In practice, it's normally the case that a going concern will achieve the best result for creditors. That's why an administrator will go for a CVA first, and is why BDO have to exhaust that possibility.

In your scenario, that might not be a better result than a "winding-up". A winding-up might achieve a bit more through the sale of the name, although liquidators' fees would more than gobble that up.

Good question, though.... I may ponder it more :greengrin

Side note.... shareholders don't come into the equation in administration. They do in a liquidation.

[Seveno]

If the value of the assets is say just £8m, I can't see the Liths wanting admin to run all the way until the end of the year. The longer it takes, the more that BDO will take from the final pot.

So quick CVA or quick sale of business and assets at the right price or ............liquidation.

[jgl07]

CWG is it not the case that BDO have a duty to obtain the best possible deal for shareholders/creditors & we're making the assumption that a CVA is the best way to accomplish this scenario? However if someone turned up & said I'll give you £xx million for Yams assets including PBS but I have no interest in owning a football club then that would be best case scenario for shareholders & BDO would be duty bound to accept? Yams no more, shame!

The assumption is that Hearts as a going concern will be worth more than the sum of the assets as a football club.

However they may be worth more if the ground was split from the football entity - players contracts, SFA licence, etc - and sold separately.

I would imagine that Tynecastle is worth more as a development site than it is as a flawed 'not fit for purpose' sports stadium. That would apply regardless of whether it was a CVA or liquidation.

[CropleyWasGod]

If the value of the assets is say just £8m, I can't see the Liths wanting admin to run all the way until the end of the year. The longer it takes, the more that BDO will take from the final pot.

So quick CVA or quick sale of business and assets at the right price or ............liquidation.

Aren't they the same?

[blackpoolhibs]

Its a worrying and increasingly popular tendency on here these days!

:faf:

[sidneyhibbie]

:aok:
Not quite but best I can do....
The 'Trumpets Trumpeteer'
http://img5.imageshack.us/edit_preview.php?l=img5/5914/pi7r.jpg&action=rotate

[sidneyhibbie]

Refused bids for 2 players because they have enough money now aye? Why not try accepting the bids and paying the council or the police the money you are due them!!!! TRAMPS

BDO looking out for the creditors? Most teams that go into admin have to release all their players never mind actually getting offered money for them and the admins turn it down! and then signed a player to add to the wage bill.

I remember people arguing about the system being wrong during the sevco debacle. I think this case has confirmed that the system needs addressed.

BDO Are at it brown paper bags same as the Duffers i am Seething as i fel a scam is going on.

[Seveno]

Aren't they the same?

Not necessarily. BDO seem to be trying to sell the business and assets in a oner which would leave us with a newco. Liquidation could lead to a total break-up to achieve the best price.

Am I missing something ?

[CropleyWasGod]

Not necessarily. BDO seem to be trying to sell the business and assets in a oner which would leave us with a newco. Liquidation could lead to a total break-up to achieve the best price.

Am I missing something ?

Yeah, I think so. I'm not being critical, but trying to understand what you mean.

A Newco is what happened to Rangers. They didn't get a CVA, which is what BDO are trying to achieve. If they don't, the assets can be sold to a NewCo, and the old company is liquidated.

[Kato]

i am Seething

Ach, your just saying that.

[Mellow Hibee]

I love this medium for setting challenging questions.... so much healthier than MSM.:wink:

In all of this, I often have to remind myself of what the law says. I've just had to do that again:-

The three Administration statutory purposes (or required outcomes) are:


- Rescuing the company as a going concern. (Note: this purpose is to rescue the company as opposed to rescuing the business undertaken by the company.)

- Or, achieving a better result for the company's creditors as a whole than would be likely if the company were wound up (without first being in administration).

- Or, realising property to make a distribution to one or or more secured or preferential creditors.

In practice, it's normally the case that a going concern will achieve the best result for creditors. That's why an administrator will go for a CVA first, and is why BDO have to exhaust that possibility.

In your scenario, that might not be a better result than a "winding-up". A winding-up might achieve a bit more through the sale of the name, although liquidators' fees would more than gobble that up.

Good question, though.... I may ponder it more :greengrin

Side note.... shareholders don't come into the equation in administration. They do in a liquidation.


Does it matter much? My impression was that they would steady the ship, drum up the best CVA offer as quickly as they can and then offer it to the creditors. At that point the creditors can accept it or liquidate, so BDO don't really need to make a decision on CVA v liquidation.

[CropleyWasGod]

BDO Are at it brown paper bags same as the Duffers i am Seething as i fel a scam is going on.

If you can prove it, do so.

[Prof. Shaggy]

Does it matter much? My impression was that they would steady the ship, drum up the best CVA offer as quickly as they can and then offer it to the creditors. At that point the creditors can accept it or liquidate, so BDO don't really need to make a decision on CVA v liquidation.

Is the problem not that, as they are unable to offer the frozen majority shareholding for sale - and consequently unable to put a CVA together, then they may have no choice but to go down the newco/liquidation route?

[hibs4thecup1988]

Does it matter much? My impression was that they would steady the ship, drum up the best CVA offer as quickly as they can and then offer it to the creditors. At that point the creditors can accept it or liquidate, so BDO don't really need to make a decision on CVA v liquidation.

Surely it all depends on cash flow though. They may be too far gone regards a CVA. 3p in the pound is never going to be accepted. And let us be honest after this month all they really have coming in is walk ups. So therefore BDO surely can just say "liquidate" if no offers.

[Mellow Hibee]

Is the problem not that, as they are unable to offer the frozen majority shareholding for sale - and consequently unable to put a CVA together, then they may have no choice but to go down the newco/liquidation route?

Yes, and I think that that would be a hilarious way for this to finish, but I just mean that BDO themselves will not be considering liquidation at this point, though if the bids are rubbish they might be expecting it.

[Mellow Hibee]

Surely it all depends on cash flow though. They may be too far gone regards a CVA. 3p in the pound is never going to be accepted. And let us be honest after this month all they really have coming in is walk ups. So therefore BDO surely can just say "liquidate" if no offers.

I thought they had had offers though? Do we know what was offered?

[CropleyWasGod]

Does it matter much? My impression was that they would steady the ship, drum up the best CVA offer as quickly as they can and then offer it to the creditors. At that point the creditors can accept it or liquidate, so BDO don't really need to make a decision on CVA v liquidation.

As I've said before, it's not the CVA that is the main issue. Leaving aside the matter of the frozen shares, the most important part is satisfying the secured creditor(s).

[Seveno]

Yeah, I think so. I'm not being critical, but trying to understand what you mean.

A Newco is what happened to Rangers. They didn't get a CVA, which is what BDO are trying to achieve. If they don't, the assets can be sold to a NewCo, and the old company is liquidated.

Yes, both cases would end with liquidation but I am talking about the difference between BDO sell the team and ground tomorrow to McKie and partners as against them saying next week that they don't have enough money to pay the bills and going straight into liquidation. McKie and partners would then have to make an offer before things were broken up.

[hibs4thecup1988]

I thought they had had offers though? Do we know what was offered?

No chance. If they really had proper offers they would be jumping about. They may have offers but nothing that they would dream of accepting. If anybody buys them they would be off their rockers

[jonty]

Has anyone asked the SPFL if they require guarantees before the start of the season, what I'll happen if a club goes into liquidation mid-season?

Surely if there was a time to make some new rules up, its now when we can all see the train wreck approaching.

Doncaster won't last long if the fans have to put up with another summer/season of the spfl in the spotlight for all the wrong reasons

[Mellow Hibee]

As I've said before, it's not the CVA that is the main issue. Leaving aside the matter of the frozen shares, the most important part is satisfying the secured creditor(s).

Ah, yes sorry. I keep forgetting that they're separate.

[Saorsa]

Has anyone asked the SPFL if they require guarantees before the start of the season, what I'll happen if a club goes into liquidation mid-season?

Surely if there was a time to make some new rules up, its now when we can all see the train wreck approaching.

Doncaster won't last long if the fans have to put up with another summer/season of the spfl in the spotlight for all the wrong reasons​That could be one benefit of the whole thing then.