I know nothing about the admin/liquidation process but it seems to me that Vlad will never let anyone see his books, so therefore I can't see him doing anything other than simply closing the doors.Quote:
Originally Posted by Hibercelona
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I know nothing about the admin/liquidation process but it seems to me that Vlad will never let anyone see his books, so therefore I can't see him doing anything other than simply closing the doors.Quote:
Originally Posted by Hibercelona
The best thing they could probably do is nothing right now. Force Vlad's hand to go into admin, sell, have a fans group/ group of sympathetic investors pick the club up, sell off tynecastle. Then you start a share issue. The council would make sure Hearts had somewhere to play, lets no kid ourselves on. Hearts might even be able to sell thier SPL shares to Rangers, release thier first team, play youngsters, and work thier way through the lower leagues. Who knows. There will be a way out, but I've got a feeling that Hearts won't be an SPL team at some point over the next couple of years.Quote:
Originally Posted by cocopops1875
I was behind Petrie , not 100% , but debts have to be repaid or suffer the consequences . As for picking managers that should be taken out of his hands .Quote:
Originally Posted by HoboHarry
I was thinking that if this was Hibs I might be inclined to pay the £110 if I thought it would keep my club alive. What would have killed my interest stone dead is the claim that they were still "committed to the development of a state-of-the-art football stadium" (see post#746). That must be the worst insult to the intelligence I've seen and tells me all I need to know about the idiots who are trying to extract money from the Gorgie hordes.Quote:
Originally Posted by cocopops1875
Once the share issue is complete will the total amount raised be public knowledge, or will we be relying on the Yam PR machine for our figures?Quote:
Originally Posted by Caversham Green
I don't think it has to be publicised so it will probably be the latter - not sure whether they'll want to play it up or down though.Quote:
Originally Posted by Mikey
That's a shame. We could have run a competition :greengrinQuote:
Originally Posted by Caversham Green
The whole Romanov Hearts project has resembled a group of destitute alcoholics breaking into an off licence and drinking as much as they can, in denial that at some hour the doors will by swung open and the stupefied, gurgling fools will be held to account for their actions.
This demise is different from the previous predicted ones as it's all coming from in-house rather than our wishful thinking; the mantle of arrogance has fallen and they are now forced to concede they are up **** creek. If Rangers can be effectively consigned to football limbo for three years, it could take Hearts a decade to recover.
I think they are in for a very rough time, which will be both painful and protracted.
That 5-1 hit doesn't seem quite so bad anymore.
Surely they would have to inform the people who purchased the shares?Quote:
Originally Posted by Caversham Green
And would most likely be removed from the record books.Quote:
Originally Posted by Dashing Bob S
The things I find most amusing in the terms and conditions is it actually states that there is no way they can sell their shares or as they put it even "obtain reliable information about their worth". They also go on to say that there is a significant risk of losing all of their investment.
FFS, are yams really that thick?
This appears to be a way for these clowns to pay the outstanding tax bill giving them a bit more time to try and find some nutter who wants to buy the club.
All this nonsense about reinvesting in the youth is another smoke screen.
:na na::na na::na na:
I think only in the most general terms - there's no specific project or target so they don't have to say whether it was a success or failure. It will become clear when (if) the current years account's are published but on current performance that won't be until May 2014.Quote:
Originally Posted by Dashing Bob S
That raises another point - they're asking for 'investment' nearly four months after their financial year end but the best financial data they can offer is from 16 months ago. Any serious prospectus would carry a summary of the most recent year-end figures as a bare minimum.
I hope their draw against a now defunct 2nd division team and their tainted win over us were worth it when they wake up to no club to support.
The 5-1 bothered me almost not at all since the day of the game, and it has puzzled me as to why. Now I know, they've admitted what we knew that it was bought with a squad which was if not cheating in a footballing sense (they had Craig Thomson for that), were totally playing outwith the rules of fair competition.Quote:
...And he [Fedetovas] explained: "The cost of the squad that won silverware [the Scottish Cup] last season is £8m and our income is just short of £7m.
You reap what you sow.
Bye bye. It was a deeply unpleasant experience knowing you.
Apologies if it's somewhere in this thread. The Guardian article says that the hearing starts next month, do we know the actual date?
And is it in Edinburgh and will there be a public gallery? We could sell hibs.net popcorn at the door :greengrin
Interest on the debt held by ubigQuote:
Originally Posted by Ozyhibby
Are you sure HMRC will not give a payment plan?
Where did the £4m figure come from?
Matter of time aint it, one things for sure. I'll be pissing myself with laughter when it does happen.
Tick tock.
5s this not illegal? Don't they have to put out some kind of legally binding prospectus?Quote:
Originally Posted by woody47
Quote:
Originally Posted by RoYO!
Clause 11 of the Yams 2011 Accounts,
"The balance owed to UBIG is secured by a standard security over Tynecastle Stadium and a floating charge across the assets of the company"
Vlad as good as owns the stadium/development site,all he has to do is ask the loan to be repaid. :greengrin
What I can't get my head around is how the Yams could not be sustainable if the debt was removed. There is no need to pay bog standard SPL players more than any other team,they don't need 47 of an admin staff or provide cars and flats for all and sundry.
It is this big club mentality that has got them where they are so hell mend them. :agree:
I think the yams used up all their goodwill with HMRC in previous months / years when dicking them around with late payments.Quote:
Originally Posted by comfortablynumb
The figure of 4 million is an estimate as if they lose this hearing then the 1.75 million is subject to interest and penalties from when the alleged offences started.
Such a shame.
The Edinburgh HMRC Tax Chamber is in George Street opposite Tiger Lilly.Plenty of watering holes in the area for the Yams to find oblivion in.Quote:
Originally Posted by Mikey
The very best things Hearts fans can do right now is nothing. If they all invest now and still go into liquidation then it will be harder to go back to the fans to help start a Phoenix club.Quote:
Originally Posted by 500miles
It's why I'm advising the jambos I know to do the right thing and invest to save their club.
Brian McLaughlin on BBC has posted on twitter his interview with Financial director from ****bo land, it makes interesting reading and they vehemently repute going into Administration, their words not the reporters, but they do concede they are in severe financial restraints and having problems that require immediate action:thumbsup:
shouldn't laugh:rolleyes: but nah I can't help myself:greengrin Tick Tock:thumbsup:
Keechback is compulsive reading just now :greengrin
Most get it, but some deluded fools reckon they have no choice but to spend their kids Xmas pressie money on hoping this last ditch begging bowl attempt works.
I actually felt sorry for gullible idiots being ripped off with emotional blackmail like this, but it seems they can actually throw their money away quite happily and openly knowing all the sad facts.
Ultimately I don't think you can protect the stupid from being allowed to indulge their stupidity but there is definitely a large degree of the battered wife about some of them.
'I'll give them my hard earned dough this time, but if they misuse it (errr like paying a tax bill?!) I'll definitely not subscribe next time' = 'I know I'm in casualty because he beat seven shades of ***** out of me, but he said he's sorry and he won't do it again. If he does it again I'll leave for good. Honest'
They are toast one way or the other, but they really should be saving their pennies to try and resurrect what's left after it all goes Pete Tong....
The interest rate on the amount due will be charged at the judicial rate which is currently 8%. For just one year, that adds another £140,000 on to the bill. Add on penalties and it is easy to see how the total will eventually be close to £4m.
Just a thought but there may be opportunities that possibly develop out of their discomfort. I would like to think that Farmer and Petrie will be discussing their predicament in some detail.
So what the guy says, basically, is that they employed Beattie and Satchel knowing full well they couldn't afford them.Quote:
Originally Posted by weonlywon6-2
I rest my case m'lud. The jury must find the defendant 'Guilty as charged' of stealing the Scottish Cup by cheating
There's nothing left over there I'd want anywhere near Easter Road.....except mibbae the Cup :greengrinQuote:
Originally Posted by The Falcon
The rights to use that badge and that name could be purchased. Just for old times sake. No need to do anything with it. :-)Quote:
Originally Posted by Jack Hackett
I know what I would do with the badge and the name.Quote:
Originally Posted by Ozyhibby
A big broon jobby all over it. Although you probably wouldn't notice much of a difference on the badge afterwards.
Kickback is reeking of feces: "One thing I've never bought into is not calling Rangers "Rangers" anymore. Of course they are still Rangers as Hearts would still be Hearts whatever the new company was called."
Quote:
Originally Posted by Mikey
.....or even pegs :greengrin :wink:
Would love it if Rima and the Pyjama Man were called to give evidence.
SHHHH !!! don't tell themQuote:
Originally Posted by Lix
Just been reading that one .:rolleyes:Quote:
Originally Posted by Elephant Stone
An earlier post from the same guy says " The precedent has been set for separating the football club from the business managing the football club and transferring the licence to new owners while starting in the third division with no need to reapply as a new entity." :wink:
What's this with players buying shares?
I won't feel sorry for any fool who throws his money on this mad gamble, then moans about not getting paid.
Someone , possibly on here used the analogy of the junkie son about the Yams .
Junkie son comes round begging for money but the father refuses him point blank . Son just continues begging until the father relents but he says the money must be used for necessities ie food and paying bills. Son leaves and heads straight for the nearest smack dealer.
This really is nearly the end eh?.
***** doesn't show on a maroon jerseyQuote:
Originally Posted by Hibercelona
So they'll lose all their players for nowt like the Huns?!
It's not looking good.
Which, of course, is a great shame.
End game is round the corner.
When ubig call in the millions of debt haha.
What a swizz the Lithuanians have pulled off here.
Fedotovas quoted in today's mail on Sunday saying they need the money fast to avoid further wage delays....... :DQuote:
Originally Posted by steakbake
I won't believe it's the end until the last nail goes into the coffin lid. For the moment, I'm just enjoying their squirming and denial.Quote:
Originally Posted by HibbyAndy
Quote:
Originally Posted by Jim44
Me tae Jim:agree: But this time i actually feel it in the gut, Where before it was all hopeful and just me hoping it was true but not really believing it, But this time i feel it aw right.. Few mates that are hearts fans ken its nearing the end too...Am feeling it Jim...Am hinking we aren't far away from what we all hoped for 5-6-7 years ago, The demise of Hearts is imminent.
God a feel like greetin!!!
You surely don't want them to fold full stop do you. I hate Hearts more than most people, but I wouldn't mind seeing them squirming around for a bit. Lets be honest we would really miss the rivalry/ gamesQuote:
Originally Posted by HibbyAndy
looks quite good tae me :greengrinQuote:
Originally Posted by steakbake
I can't see it. There will be some last minute shenanigans and the 400,000 will breathe again.Quote:
Originally Posted by HibbyAndy
I too feel that they are fast approaching the end.Quote:
Originally Posted by HibbyAndy
However, we must make sure that the Council and the Scottish Government do not get involved in any attempt to save them from their own folly.
While they would have no right to offer them any assistance you can guarantee that they will try it on.
I would also like to see them suffer a bit. A few relentless pumpings care of the famous edinburgh hibees before dissapearing into oblivion would be my preferred course of actionQuote:
Originally Posted by goldenhibby
Attachment 8774Quote:
Originally Posted by JAY-ME
To be honest I'd rather they faced the embarrassment of not making it to the end of the season.Quote:
Originally Posted by JAY-ME
I want tae see them completely and utterly eliminated.Quote:
Originally Posted by goldenhibby
:agree:Quote:
Originally Posted by Geo_1875
Fair point...The council and government ( With all those ****bos!!! on the payroll) Will be hell bent on assisting in any way they can!!..But i fear (:greengrin) This may not be enough.
To the poster above that asked would i sacrifice derby's for their demise..One word answer - YES...Kill the *****...And kill them now!!!,
I think if this really is "END GAME" then neither the Cooncil or Government will have any way of helping, Cooncil plums cant be seen doing anything big for a 3rd div team or other MINORITY (god that was delicious) sports will be wanting their facility upgrades too Our Cooncil is in nearly as rough shape as the Hahahearts with more bad new from the trams just round the corner :agree::flag::flag::flag:Quote:
Originally Posted by Geo_1875
NopeQuote:
Originally Posted by goldenhibby
Nothing would give me greater pleasure than seeing these cretins go down the tubes, I hate them.....Quote:
Originally Posted by goldenhibby
I have to travel through Gorgay on my way into town, and it gives me the dry boak passing that stinking cess pit. Would make my journies much more pleasing if I was passing nice shiny flats or a supermarket.....Happy days on the horizon.....
That's why I refer to the very last nail because we know full well that the council and Salmond will pull out all the stops to save them or at least ensure a soft landing from which they can make a speedy recovery.Quote:
Originally Posted by Geo_1875
100% This :agree:Quote:
Originally Posted by Desperate Dan
:agree: Am wi Dan. :aok:Quote:
Originally Posted by Desperate Dan
Ah've no had a drink in 20 years,ah'll be the drunkest **** in Penicuik when they go pop.
Perty in the royal. :na na:
Ditto :agree:Quote:
Originally Posted by Desperate Dan
Quote:
Originally Posted by BigKev
Quote:
Originally Posted by Www1875hfc
:thumbsup::thumbsup:Quote:
Originally Posted by Marinehibby
:agree:Quote:
Originally Posted by Desperate Dan
If you asked most of us ten years ago then the answer might have been different, but they can take their big team, tainted cup winning, moving on to a higher level, total and utter pish and wind they've been spouting since Romanov arrived and wrap it right round them.
I'll be the one sipping champagne outside the Tynie Arms when the bulldozers turn up ya maroon puddle drinking welts.
I'm inQuote:
Originally Posted by Desperate Dan
I've been wanting this since that FTB tried tae kill Hibs. I'll never forgive or forget that. I'm no fussed about the half dozen that turned up at HOH, 99% of them wanted tae see Hibs gone. I want them tae get everything that's coming their way and then some.Quote:
Originally Posted by Barney McGrew
**** h****s
:applause:Quote:
Originally Posted by Desperate Dan
Ditto.
Attachment 8775
Can someone update the year for me please.
i have no doubt the jambos on the council and local government will try every trick to save the hearts,but does anybody believe sir tom farmer will stand aside and watch,they never helped us in the past,they wouldnt be that stupid would they.i guess we will find out sooner rather than later
I think there is no way STF would get involved far too classy for that.Quote:
Originally Posted by big gogs
If the council gave them preferential treatment RP would speak up but only to ask for parity
http://i46.tinypic.com/2qnxuhd.jpgQuote:
Originally Posted by Www1875hfc
Thanks Dan. :not worthQuote:
Originally Posted by Desperate Dan
that's my stance.Quote:
Originally Posted by goldenhibby
There's no denying we've taken a hit with fewer fans from dundee than from rangers.
Take away hearts and replace them with who? falkirk?
keep taking away the larger travelling support and we will lose money too. or do you expect those without a club to just startsupporting Hibs?
They could be deid soon. Hpoefully very soon.
And when it does go pop for them we should have the biggest party Leith has ever seen.
Tick Tock Tick Tock Tick Tock
And i agree with Dan too, wipe them of the planet. :lolyam::jamboclow:******::yamlaugh::titanic::brok enyam::casper:
The big huns will be back soon enough, complete with a new battalion of Edinburgh huns. Macrae's Loyal perhaps?Quote:
Originally Posted by comfortablynumb
3.0% is hmrcs current late payment interest %. It has beenhigher than that but not since 2009.Quote:
Originally Posted by Seveno
Why not? Maybe they'll start supporting Falkirk? That would be win / win.Quote:
Originally Posted by comfortablynumb
FTH
Quote:
Originally Posted by Desperate Dan
Has to be said this is a decent estimate.
In the financial liquidation heirarchy HMRC get paid first. So, question is- if Ibrox is worth £5 million, how are the company currently known as Heart of Midlothian football club going to get a buyer that will pay enough to settle both HMRC and the mafia bank that props them up ?Quote:
Originally Posted by Greendrongo
I reckon the owner of Heart of Midlothian Football club has just realised that his £50 million business is actually worth close to zero!!!!
Hearts fans would be well advised to throw in the towel now and buy the ground back in the resultant fire sale.
Those of us who were around twenty years ago, just cannot believe the poetic justice.....
:flag::flag:
No they don't. That used to be the case, but not now. The secured creditors (ie the bank) will be paid first.Quote:
Originally Posted by Hibeesforever
No they don't. Liquidators fees, Outstanding salaries then secured creditors get paid before HMRC who are just a normal creditor nowadays along with the electrician, football clubs etc.Quote:
Originally Posted by Hibeesforever
Edit....CWG beat me to it......BTW doubt Hearts are worth as much as a pound
You guys who want to stop at total extinction remind me of these scary horror movies where, at the climax, the baddie gets battered to the point where he is left for dead........ then the camera pans in and there is a tiny but distinct flicker of life ......... the camera retracts to the sound of psycho type music, the screen goes blank and the credits come up......... we're left hanging. Nah, the stake through the heart for me, please.
You have to be kidding me....the banks get paid before the tax payer, we the people ? our country is really in a mess. Okay, so HMRC place Hearts in administration / liquidation for non payment as a unsecured creditor, probably still the same outcome for both Vlad and his bank - zero back with Hearts supporters taking ownership. Outcome the same, third division for the Maroon scurge.Quote:
Originally Posted by CropleyWasGod
Hibees meanwhile partying in the city of Leith.
:flag:
:cb
It won't be zero back for the bank. It will be whatever the liquidator can get for the sale of the property, less their fees.Quote:
Originally Posted by Hibeesforever
I hope they stay around until January, so we can give them a long overdue tanking on their own patch. Which we will.
Much as I want to see it, I don't think total extinction is on the cards just yet. Enough of them will 'invest' :faf: to keep them crawling along for a few months. Nowhere near what vlad needs, but he'll take what he can get from them, call it a 'glorious triumph for the loyal fans' and magic up the rest.
I think he's well aware they won't be able to scrape nearly £2M together. His sole aim in this is probably to minimize the hit he has to take. There's still money to be made out of the deluded fools before any plugs are pulled. He knows there's no fight in them, and he can and will take them for every penny he can squeeze.
The PBS will probably go soon, but he'll have to find a ground for them to squat before it happens. Wouldn't surprise me if another skint club offered to put them up for the rent money...as a magnanimous gesture, of course.
What we will get, is to watch them decline in humiliating poverty, seeing as they're a BIG team n'that. I for one will enjoy every effing minute of it
:lolyam:
If the situation is as grave as he suggests then why are they only releasing 10% for sale at the moment? Why not 20, 30 0r even 40%?Quote:
Originally Posted by Sir Alf R
100% at £1.79m would be way over the odds.Quote:
Originally Posted by Spike Mandela
I think it's just Vlad seeing if the Yams really are stupid enough to give him a chunk of cash without having to give away any meaningful stake in the club.
Is it usual to sell a share issue using the 'please dig deep, we're ******ed' strategy?
maybe it's time to start calling hertz 'the sheep' instead of Aberdeen :vladsheep:
giving that crook £100 odd is not loyalty, it's total ****** stupidity
Anyone clued up on Lithuanian politics? Sergey perhaps? not sure if this is good or bad but my guess is it doesn't sound good for Vlad.......
http://www.bbc.co.uk/news/world-europe-20113840
I posted around 6 years ago, when all the tick tock and wishful thinking began about their ultimate demise, that Vlad could give the club away for nothing, and still make money from their dying club, all because of the interest due every year on the debt owed to him. As long as someone is prepared to take on that dying club, they have to pay him interest on their debt. Vlad has already made the threat, if UBIG decide to call in the loan, the club will be insolvent and face liquidation. I believe someone or some group will now attempt to get the club for as cheaply as possibly, and he will sell for as much as he can get, wiping his hands of the day to day running costs of the club, BUT he will still get interest on the debt every year. He will hold the threat of liquidation over the clubs owners until the debt is fully repaid. I believe there are Jambos stupid enough to get the club on these terms, because the only other option is extinction, and loss of history. I believe, Hearts will remain with their history, but future revenue streams severely hampered, will see Hearts struggle financially for years to come, and there is the payback for most Hibbies, competing on a level playing field once again.
http://www.scotsman.com/sport/footba...ults-1-2602698
It talks about the club being insolvent if it wasn’t for the ongoing support of Romanov’s UBIG, support that is guaranteed for this current season but will be “reassessed” on 1 July, 2013. “If UBIG were to demand repayment of the full amount, the Company would be insolvent and would face liquidation.” That’s Romanov effectively saying “I can shut this club down in the summer if I like…”
I thought the story was UBIG had not been supporting Hearts financially since January and they were now required to fund themselves,at least that was the excuse for the last wages delay.
They make it up as they go along and change their position to suit the circumstances. "Administration not on the agenda", now rewind 12 months, is this not a repeat of the Craigy boy downward spiral over at Greyskull.
Today's i newspaper reporting Hearts' problems as being fall-out from the Huns being out of the SPL. No mention of the problems being the result of many years of yamathematical mismanagement.
I wondered how long it would take for some media outlets to start peddling nonsense like this :rolleyes:Quote:
Originally Posted by reallapsedhibee
What a joke, even last season the wage bill was 8 million with an income of 7 million. Put tax bills and running the club on top of that and they would still be on their deathbead if they had real madrid in the league never mind rangers.Quote:
Originally Posted by reallapsedhibee
I agree, the Media will do anything to enforce their message on just how vital Derhun are to our game.... Nothing to do with years of total mismanagement from the yams of course....Quote:
Originally Posted by DaveF
Can anyone get me up to date exactly with what they owe and why they are on the brink? Or even point me in the direction of something that can tell me. I never kept up to with rangers but want to with this
They were having problems long before the huns fell of their perch. IMO just a load of media bull**** tae try and make it look like they were right about the fallout from the huns getting punted.Quote:
Originally Posted by reallapsedhibee
The short answer is no. The last published figures were for June 2011 when they had Net Debt of £24.03m (not the £22m they claim in their prospectus) and their total creditors (a far more relevant figure IMO) was £31.3m.Quote:
Originally Posted by Seanduff
Any serious prospectus would give a far more up to date figure, particularly since the latest year end was four months ago, which suggests the current figures will be significantly higher, but there's no way of finding that out unless HoMFC release new accounts.
According to Fedovotas at the weekend, the Board "believes" they made a profit last year, without the need for debt forgiveness. As you say Cav, strange that this is only a belief when the year end was four months ago. I would be very interested to understand how they've made a profit, as they had an £8m shortfall the previous year.Quote:
Originally Posted by Caversham Green
Hearts are in real bother now. I think we should start snapping up the naming rights so that when they try and reform like Sevco the can't call themselves "the hearts" or anything else regarding the name Hearts as we will have bought the rights to them :greengrin:cb
On a serious note though, was told last night that it's actually a lot worse than what they are letting on. We've heard it a lot over the years and we can be forgiven for thinking it's just another rumour. But believe me I know a few folk in football who have close contacts with Hearts. He has said Admin really is on the cards now more than ever. Also said there is no chance of players wages being paid on time either next month. Will just have to wait and see if he's right.
Keep checking this link http://www.scotsman.com/the-scotsman/obituaries :greengrinQuote:
Originally Posted by Seanduff