Share Transfers Agreed/Cooling off period

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Originally Posted by jdships

I was introduced to a man this morning who runs a small " service " business .( four employees )
He was owed a four figure sum of money for repairs carried out at Tynecastle and lost out , receiving siltch
He was lucky (his words) that he managed to keep things going without paying off staff but feels very very bitter reading the quotes from Hearts supporters of how Hearts will be " debt free and go on to be a massive club again "
Can sympathise with him ( he is not a football man as he played rugby and follows his old club ) and wonder how many more small businesses were landed in the same position ?

:rolleyes:

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He should introduce himself to our sports media imbeciles who keep referring to the Yam fans as the victims in Heart's financial shambles instead of the accomplices .

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Originally Posted by CropleyWasGod

Think you might be getting your Aprils mixed up. The Scotsman article was today, the Tribune 2013.

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Yes they normally catch up after six months!

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Originally Posted by greenginger

He should introduce himself to our sports media imbeciles who keep referring to the Yam fans as the victims in Heart's financial shambles instead of the accomplices .

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Hearts are the archetypal overweight school bully, callous and full of unwarranted self-regard, so quick to turn into a sniveling, self-pitying cowardly victim when held to account for their actions. It's about time our pathetic media started holding this easily-bruised fat boy culpable, rather than indulging him by spilling fake tears and cheerleading his misery.

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Originally Posted by Dashing Bob S

Hearts are the archetypal overweight school bully, callous and full of unwarranted self-regard, so quick to turn into a sniveling, self-pitying cowardly victim when held to account for their actions. It's about time our pathetic media started holding this easily-bruised fat boy culpable, rather than indulging him by spilling fake tears and cheerleading his misery.

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Seeing as they profess to hate green so much, they should be made to rip up that big green thingy in the middle of their stadium. Ideally replaced with a car park. For flats.

Can we stick to topic lads,don't care if its a multi quote or not if it annoys you then don't read it,
Any news of the padlocks comming out yet at ***********

We need a banner for the next derby
I'll help pay but can anyone make one?
I'd like it to say :

Hearts Fans:
Not victims,
Accomplices

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Originally Posted by gorgie greens

Can we stick to topic lads,don't care if its a multi quote or not if it annoys you then don't read it,
Any news of the padlocks comming out yet at ***********

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Think they are still in shock. The histrionics and bull**** and wild conjecture reported as news will probably start up again tomorrow or Friday morning. Meantime that ol' clock keeps on a-tickin.

Of course if Lithuanian journalism is as technically accurate as our MSM then we can disregard that stuff as well...

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Originally Posted by jdships

I was introduced to a man this morning who runs a small " service " business .( four employees )
He was owed a four figure sum of money for repairs carried out at Tynecastle and lost out , receiving siltch
He was lucky (his words) that he managed to keep things going without paying off staff but feels very very bitter reading the quotes from Hearts supporters of how Hearts will be " debt free and go on to be a massive club again "
Can sympathise with him ( he is not a football man as he played rugby and follows his old club ) and wonder how many more small businesses were landed in the same position ?

:rolleyes:

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If we can gain access he should rip up all the work done and take his materials back. Construction materials belong to the contractor until the invoice is paid in full, as stated on my invoice. I have done this in the past with, on one occasion, the help of the police who made sure no violence was shown to our men.

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Originally Posted by southsider

If we can gain access he should rip up all the work done and take his materials back. Construction materials belong to the contractor until the invoice is paid in full, as stated on my invoice. I have done this in the past with, on one occasion, the help of the police who made sure no violence was shown to our men.

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I think he is too late. The Yams have settled all accounts with the CVA vote fiddled by BDO.

I hope he is happy with the settlement of Zero pence in the pound.

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Originally Posted by Paisley Hibby

For the first time ever something comes up on Hibs Net that I actually know something about (I'm a planner).

The Council's new Local Development Plan zones the Tynecastle Pitch (but not the stands) as Open Space. So it seems that it's only the pitch that's protected. Also, it's not an absolute ban on development on the pitch. The Council acknowledges that development could be permitted in exceptional circumstances. This could include, for example, a development of community benefit which also provides for a replacement pitch being created elsewhere.

Having said that, this plan would give the Council the reasons it might need if it was determined to refuse permission for political reasons. A developer could then appeal to the Scottish Government but that would cost time and money with no certainty of success. All that will be reflected in the valuation of the PBS.

The Council also zones the Easter Road pitch as open space.

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You obviously missed last week's TPI love-in:wink:

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Originally Posted by ano hibby

Of course if Lithuanian journalism is as technically accurate as our MSM then we can disregard that stuff as well...

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The original Bloomberg article had a direct quote, which is often missing in our own media.

“Any sale or transfer” of UBIG’s shares in Hearts or its other property “is forbidden,” Gintare Putnikiene, a spokeswoman for the court in Kaunas said by phone today.

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Originally Posted by ano hibby

Of course if Lithuanian journalism is as technically accurate as our MSM then we can disregard that stuff as well...

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It might just be that the Lithuanian press have their financial journalists on the story whereas the MSM have their sports reporters doing the job.

Big difference in perception, experience and, more than likely, basic intelligence.

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Originally Posted by greenginger

I think he is too late. The Yams have settled all accounts with the CVA vote fiddled by BDO.

I hope he is happy with the settlement of Zero pence in the pound.

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It wouldn't surprise me if they had the gall to give -10p in the pound, meaning the creditors would be due to pay them, just for the pleasure of not being paid.

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Originally Posted by Kato

It wouldn't surprise me if they had the gall to give -10p in the pound, meaning the creditors would be due to pay them, just for the pleasure of not being paid.

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Or -15

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Originally Posted by jdships

I was introduced to a man this morning who runs a small " service " business .( four employees )
He was owed a four figure sum of money for repairs carried out at Tynecastle and lost out , receiving siltch
He was lucky (his words) that he managed to keep things going without paying off staff but feels very very bitter reading the quotes from Hearts supporters of how Hearts will be " debt free and go on to be a massive club again "
Can sympathise with him ( he is not a football man as he played rugby and follows his old club ) and wonder how many more small businesses were landed in the same position ?

:rolleyes:

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this is exactly the stories the media should be covering!!!

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Originally Posted by HFCDaveA

Mikey, think the papers have it wrong slightly. I am sure they were advanced 150k right at the start of the admin process, then there will be 535k ring fenced for football debts which is about the 690k mark.

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Yams have been advanced a total of £823,895.33 from SPFL this season. If they don't complete their fixtures they have to pay it all back! Given we know they already have £690,000 of the final payment that leaves a balance provided earlier of £135k, not far off your £150k figure above. I believe the football debt of £535k is a totally separate matter, that is due to be paid by F of H (or its nominee).
I'm not sure what happens if Yams hit the big L. From memory I think newco settled the football debt for Rangers & I think this would happen with anyone registering new Yams ( or Shams! ) Can anyone with a better memory re The Rangers saga please advise?

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Originally Posted by jakeshibs

this is exactly the stories the media should be covering!!!

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We should go around the streets and offer a few of the Jakeys a few quid to swop their " Hungry and Homeless " signs for a " I am a Hearts Creditor " sign.

I bet the EEN would never run the story.

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Originally Posted by brog

Yams have been advanced a total of £823,895.33 from SPFL this season. If they don't complete their fixtures they have to pay it all back! Given we know they already have £690,000 of the final payment that leaves a balance provided earlier of £135k, not far off your £150k figure above. I believe the football debt of £535k is a totally separate matter, that is due to be paid by F of H (or its nominee).
I'm not sure what happens if Yams hit the big L. From memory I think newco settled the football debt for Rangers & I think this would happen with anyone registering new Yams ( or Shams! ) Can anyone with a better memory re The Rangers saga please advise?

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TRFC's fitba debt had to be settled as a condition of their new owners' application to join the SFL/SFA. It was central to the 5-way agreement.

I'm in two minds about how HMFC's football debt will be settled, too. While it makes sense to deduct it from the SPFL money, I'm leaning towards your own thoughts. It's debt that is due to bodies other than the SPFL, and I'm not sure the SPFL have the power to be a collection agent for them.

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Originally Posted by CropleyWasGod

TRFC's fitba debt had to be settled as a condition of their new owners' application to join the SFL/SFA. It was central to the 5-way agreement.

I'm in two minds about how HMFC's football debt will be settled, too. While it makes sense to deduct it from the SPFL money, I'm leaning towards your own thoughts. It's debt that is due to bodies other than the SPFL, and I'm not sure the SPFL have the power to be a collection agent for them.

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That would make sense, but the SPFL could make sure the debt is paid as a condition of starting up again as The Hearts 2014.

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Originally Posted by brog

Yams have been advanced a total of £823,895.33 from SPFL this season. If they don't complete their fixtures they have to pay it all back! Given we know they already have £690,000 of the final payment that leaves a balance provided earlier of £135k, not far off your £150k figure above. I believe the football debt of £535k is a totally separate matter, that is due to be paid by F of H (or its nominee).
I'm not sure what happens if Yams hit the big L. From memory I think newco settled the football debt for Rangers & I think this would happen with anyone registering new Yams ( or Shams! ) Can anyone with a better memory re The Rangers saga please advise?

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Yep, anyone wanting to start a NewYam would need to acquire the SFA and league license and part of that agreement will be settle the old Yam debts.

That's what took it to the wire with The Rangers last summer, but they agreed at the last minute.

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Originally Posted by Mikey

That would make sense, but the SPFL could make sure the debt is paid as a condition of starting up again as The Hearts 2014.

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Think that would be another 5-way agreement -type thing. The SFA would probably make the stipulation.

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Originally Posted by CropleyWasGod

TRFC's fitba debt had to be settled as a condition of their new owners' application to join the SFL/SFA. It was central to the 5-way agreement.

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Originally Posted by CropleyWasGod

I'm in two minds about how HMFC's football debt will be settled, too. While it makes sense to deduct it from the SPFL money, I'm leaning towards your own thoughts. It's debt that is due to bodies other than the SPFL, and I'm not sure the SPFL have the power to be a collection agent for them.

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Thanks, that makes sense. It's a logical extension of the authority the SPFL has to ensure football debt is repaid ( despite HMRC protests! ) I think you're also correct re collecting the debt, IIRC there were well over 100 individual football creditors, I don't see SPFL getting involved there.

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Originally Posted by jdships

I was introduced to a man this morning who runs a small " service " business .( four employees )
He was owed a four figure sum of money for repairs carried out at Tynecastle and lost out , receiving siltch
He was lucky (his words) that he managed to keep things going without paying off staff but feels very very bitter reading the quotes from Hearts supporters of how Hearts will be " debt free and go on to be a massive club again "
Can sympathise with him ( he is not a football man as he played rugby and follows his old club ) and wonder how many more small businesses were landed in the same position ?

:rolleyes:

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He certainly is not the only one that mob have conned. Those cheating, immoral, thieving *******s don't care how many small businesses, charities etc they have mugged off and stolen from, it let them play "we are the big team".

Horrible lot. Their smug, arrogant fans turn my stomach.

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Originally Posted by greenginger

We should go around the streets and offer a few of the Jakeys a few quid to swop their " Hungry and Homeless " signs for a " I am a Hearts Creditor " sign.

I bet the EEN would never run the story.

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that sounds like the sort of stuff Mark Thomas would get involved with. Email him.

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Originally Posted by Kato

It might just be that the Lithuanian press have their financial journalists on the story whereas the MSM have their sports reporters doing the job.

Big difference in perception, experience and, more than likely, basic intelligence.

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Samething happened with the Gers.

On UKIO I started sending Bloomberg articles to the Scottish press in the early autumn of 2012 pointing out the implications for Hearts. They were totally ignored.

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Originally Posted by desantos0773

Samething happened with the Gers.

On UKIO I started sending Bloomberg articles to the Scottish press in the early autumn of 2012 pointing out the implications for Hearts. They were totally ignored.

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Also on my Twitter account at the time #LeftBanker

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Originally Posted by NumberSeven

He certainly is not the only one that mob have conned. Those cheating, immoral, thieving *******s don't care how many small businesses, charities etc they have mugged off and stolen from, it let them play "we are the big team".

Horrible lot. Their smug, arrogant fans turn my stomach.

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When this all kicked off there very quickly appeared a thread on kickback saying that they should all contribute to a pot that would be used to pay back small creditors.

The thread recieved great attention and all were in agreement that this was exactly the type of action that distinguished them from Rangers fans.

Wonder how that's comming along?

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Originally Posted by CropleyWasGod

TRFC's fitba debt had to be settled as a condition of their new owners' application to join the SFL/SFA. It was central to the 5-way agreement.

I'm in two minds about how HMFC's football debt will be settled, too. While it makes sense to deduct it from the SPFL money, I'm leaning towards your own thoughts. It's debt that is due to bodies other than the SPFL, and I'm not sure the SPFL have the power to be a collection agent for them.

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It's a catch 22. Should the SPFL, one of Scottish Footballs governing bodies, issue an advance payment of monies that hertz would not be due should they fail to complete the season by entering liquidation? Or should they withhold that money and cause hertz to enter liquidation at which point they fail to be entitled to said money?

Anybody.... Help..... my head hurts.

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Originally Posted by NumberSeven

He certainly is not the only one that mob have conned. Those cheating, immoral, thieving *******s don't care how many small businesses, charities etc they have mugged off and stolen from, it let them play "we are the big team".

Horrible lot. Their smug, arrogant fans turn my stomach.

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While I understand the common disgust with the stiffing all and sundry, large and small businesses and organisations for hundreds upto millions that's what happens all too often.

A friend of mine was a professional commercial photographer, and a damned good one too, flying all over the world, reckoned he lost on average £20k a year folk doing the same as the yams.

Its the system that's wrong ... IMO.