All administrators say this , as they need the co-operation of people in the businesses they will be dealing with. The reality is often quite differentQuote:
Originally Posted by Hermit Crab
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All administrators say this , as they need the co-operation of people in the businesses they will be dealing with. The reality is often quite differentQuote:
Originally Posted by Hermit Crab
[QUOTE=Springbank;3638816]It would be fun to watch FoH splinter and splinter and splinter again as hearts onfield fortunes deteriorate as the 400000 becomes 4000.
I wonder how many of the 4000 fans that FoH claim have pledged to be willing to support them are from genuine pledges from ****s and how many were Hibees who took time out to pledge their support to such a worthy cause ??
I seen that, but it was too polite for my liking. This reply is better :wink:Quote:
Originally Posted by Leishy1995
Scott Purves @ScottPurves1
@BarryAnderson_8 you're still a prick
So the 'primary objective' of the administrators at a international company in millions of pounds worth of debt is to secure a sale for a small football team in Scotland?Quote:
Originally Posted by Hermit Crab
Aye, nae bother, Barry
Quote:
Originally Posted by Bajillions
Summary of baz done
You support Hibs, not Hibs v hertz.Quote:
Originally Posted by happiehibbie
The actual quote doesn't even say that. :rolleyes:Quote:
Originally Posted by Bajillions
Primary initiative, not objective, ie. the first thing they'll try is look for a buyer for HMFC as a going concern. Provided there was a buyer with a sufficiently large offer, that would make perfect sense.Quote:
“In the ongoing processes we must at all times consider the best interest of the creditors of Ukio Bankas.
“Hearts of Midlothian Plc is one of the companies indebted to the bank. There are several possible alternatives to dealing with this case but our initial assessment indicates that most likely to get the most extensive return for Ukio Bankas creditors may be achieved by keeping the club operating.
“For now we have no reason or desire to harm Hearts so our primary initiative, having solved the regulatory and other issues, is contemplated to be the sale of Hearts.”
Time to see the colour of their money ... :cb
Bit different from his tweet on the 15th FebQuote:
Originally Posted by Hermit Crab
Barry Anderson @BarryAnderson_815 Feb
@jj_bruce Board say no issues, as tweet states. Ukio probs barely affect #Hearts. UBIG not funded #Hearts for a year, just debt facilities.
http://www.scotsman.com/edinburgh-ev...s-on-1-2963439
Headline :
Ukio Bankas administrators vow to sell Hearts on
Actually he says nothing of the sort.
(JeMeSouviens beat me to it) Although judging by the comments some Yams think he has cancelled the debt and handed them over to FoH for a fiver.
He says he reckons the best deal for creditors will be to sell them as a going concern. Note that he doesn't say where they'll be going. :wink: Hearts minus Tiny to FoH for £buttons plus Tiny to AN Other for £5.5M might well the best available.Quote:
Originally Posted by Treadstone
Remember who we are talking about here. Also on that Feb 15th exchange was this wee nugget of a reply.Quote:
Originally Posted by JeMeSouviens
metalchappie @jj_bruce15 Feb
@BarryAnderson_8 I find it worrying you take the board's statements at face value. Again what independent research have you done?
Barry Anderson @BarryAnderson_815 Feb
@jj_bruce Plenty research & nothing hints at impending trouble for #Hearts. Club know cuts still needed. Tks for telling me how to do my job
Toilet paper hinging oot the back o yer troozers ? :greengrinQuote:
Originally Posted by Mrs. S
Can UKIO sell Hearts? Surely all they can sell is the security which amounts to the stadium and the 29.9% shareholding. That's only part of Hearts.Quote:
Originally Posted by JeMeSouviens
You're looking at this far to short term. Yes we will miss the Derby income but 10-20 years from now in some sort of euro league set up, being the only club in a city of 1/2 million people will stand us in good stead.Quote:
Originally Posted by happiehibbie
When will the points deduction be confirmed? :devil:
#AllisBarry removed his name from the byline on the "Administrator Vows" story.
Maybe even he realised that was a load of pish from start to finish.
Not yet, but UBIG's indebtedness to the bankrupt UKIO and its own inevitable bankruptcy will probably change that.Quote:
Originally Posted by Bajillions
If, as is now being reported, that this is PAYE debt then surely this represents new debt to HMRC. The original agreement to give them time to pay was surely on condition that they did not incur any new debt to HMRC?
Will this not force them into calling in the whole amount?
But not before UBIG is in administration and Hearts have a 15-point penalty!Quote:
Originally Posted by JeMeSouviens
Would it be normal to have the same administrator (liquidator?) for both UKIOS and UBIG in such circumstances?
They have actually done part of that already. Hearts defaulted (apparently, although I'm still not convinced) on their PAYE; hence the threat of a WUP was made.Quote:
Originally Posted by Ozyhibby
HMRC don't do that to everyone who is late with PAYE. They only do it to those who have bad payment records, or who have an agreed payment plan in existence. Tick and tick.
[QUOTE=kennyh;3638833]I think that number of mugs could be accurate(ish) - the Yamtard in my office who bought shares, renewed his season and pledged money (mair money than sense!!) got 2 e-mails from FoH. The second one apologised for duplicating the first but FoH reckoned that the first e-mail weeded out the fake names, e-mail addresses, the very generous Desparate Dan etc.Quote:
Originally Posted by Springbank
He received those e-mails about 3 weeks ago.
But as has been mentioned, how many will actually step up to the newly painted plate?
Every single time something bad happens to them, along comes Barry with a positive story. Funny that eh
I am sure FoH will now waste no time in convening a meeting to discuss the potential timetable for putting together a proposal which sets out a potential way forward for putting a formal bid together.Quote:
Originally Posted by JeMeSouviens
Having carefully studied the EEN website, and forensically investigated their writing styles, I can now confirm that #AllisBarry and Rolland are both aliases of one person.Quote:
Originally Posted by #FromTheCapital
the comments from the latest Scotsman story are unreal (well, not really - when you are a jambo and AllisBarry)
Honest opinion - "The debt wont go away" ?!!!!!!!!
Yes it will my friend - We will swap all that debt away for a new very low interest business mortgage to assist in buying 100% hearts assets - circa £8 million i reckon - In business terms an absolute steal! - Arithmetic & common sense sadly lacking in the great unwashed from the San Giro it would appear........Away & count yer Scotttish cup wins Ya muppets
They may convene a meeting after their forthcoming Q&A session but a number of their members will have to leave early for bar duty at the golf club.Quote:
Originally Posted by jacomoseven
Just to make their interest known in a possible negotiation for a possible price indication.:cbQuote:
Originally Posted by jacomoseven
After observing the genorosity of our fans on here I reckon we could do a collection and outbid the foh.
Then shut the ba**ards doon.
The demise of Hearts gives Hibs a great marketing opportunity to the commercial business market as the Capital's sole premier club. There would be no worry of upsetting the "other side" and alienating their client base. In the medium term a great opportunity.Quote:
Originally Posted by happiehibbie
Bazza has another article (he's even put his name on this one, oh the integrity):
http://www.scotsman.com/edinburgh-ev...bill-1-2963401
26 players left including "all professionals within the first team and youth academy".
From their website 1st team squad page they have:
1 Jamie MacDonald
2 Jamie Hamill
7 Ryan Stevenson
8 Scott Robinson
9 John Sutton
13 Mark Ridgers
14 Jamie Walker
15 Jason Holt
17 David Smith
19 Dylan McGowan
27 Callum Tapping
28 Brad McKay
29 Kevin McHattie
31 Jack Hamilton
32 Billy King
33 Callum Paterson
37 Dale Carrick
40 Adam King
44 Jordan McGhee
47 Sam Nicholson
... and possibly ...
4 Danny Wilson
And they'll probably lose Sutton. :greengrin
Anyone else looking forward to the new season? :wink:
That squad minus 15 points = RelegationQuote:
Originally Posted by JeMeSouviens
Also.. You could sell that whole squad 3 times and still wouldn't get 1m in transfer fees. Just makes their projections look even more stupid
Meaning both are the same thing....A***H***sQuote:
Originally Posted by Geo_1875
Possibly relegation *before* the split which would allow us to be the ones to confirm the matter.Quote:
Originally Posted by #FromTheCapital
Take a second and imagine that feeling......
I thought Stevenson was on loan?Quote:
Originally Posted by JeMeSouviens
EDIT - nope 3yr contract. Idiot deserves everything he gets after all the noises he made when leaving.
Just noticed Barry has replied but went quiet again when he was asked another difficult question. The Sickbag twitter got involved too, claiming a mystery significant shareholder. Barry just makes a fool of himself, somebody at the EEN should take his phone off himQuote:
Originally Posted by Leishy1995
Come on now. Banter is banter, but no matter how fierce the rivalry, surely no club would actually be so brazen and nasty as to try and buy their city neighbours and destroy them?Quote:
Originally Posted by hibbymick
:wink:
That's the crux of it. Never mind Hearts, who is running the Evening News?Quote:
Originally Posted by Bajillions
If you have a deranged lunatic in your basement, banging his head of the walls, masturbating and eating his own faeces, paying him a salary out of pity is noble enough, but FFS take the mobby off him.
I will be buying a euromillions ticket this Friday, it's a rollover... I fancy a fans' buyout of hertz, just not by the hertz fans!Quote:
Originally Posted by jacomoseven
You see relegation. I see 'the best crop of youngsters in the country, augmented by a sprinkling of experienced, solid pros.'Quote:
Originally Posted by #FromTheCapital
The Vlad account claiming that both companies are linked together and will be able to sell each others assets.
Genius.
Has to be the weakest squad in the league, cant waitQuote:
Originally Posted by JeMeSouviens
With a young legendary ginger haired tactical genius at the helm to stear them to the top :faf:Quote:
Originally Posted by Dashing Bob S
I agree with all that Cav, reason I mentioned the 28 days before SPL must be notified is, like you, I thought if this really is PAYE the 28 days must be getting very close now. I also agree thoughts re wages but I honestly believe they were scrambling around the last few days lookin for whatever loose change was available & if they had wage money sitting in an a/c they would have grabbed it & hoped for some more income before Monday. This is the best close season since, well, last close season!!Quote:
Originally Posted by Caversham Green
Add in their siege mentality and they'll be unstoppableQuote:
Originally Posted by Dashing Bob S
Messi just came out and said he was diehard maroon
SSN reporting that a court in Lithuania has upheld decision to liquidate UKIO BANKAS
What are the chances of someone coming in and buying Hearts for a couple of million with the debt wiped out? A couple of my Jambo mates reckon this will happen. Wishful thinking?
The previous posings on here about the UKIO fate all are correct! It is all down to UBIG now!
More chance of that happening than them being completely wiped out anyway.Quote:
Originally Posted by M17
I don't see how Hearts can possibly pay back £15m or whatever it is they owe. Surely if they take a few million and sell them with no debt, that's better for them than shutting Hearts down, where they would then get nothing back from Hearts.
Including Tiny - no chance. As a homeless club (hobos, you might say :wink:), probably a bit less than that.Quote:
Originally Posted by M17
Jaimie Ryan on twitter is roasting jamboskickback, very good watch
From Sky Sports News:
“The administrator of Ukio Bankas insists he will not 'harm Hearts' after a court in Lithuania upheld a decision to liquidate the bank.
Hearts owner Vladimir Romanov formerly controlled the company, which is set to go bust, but Gintaras Adomonis of accountancy firm UAB Valnetas plans to keep Hearts running as a going concern before selling it on.
Ukio Bankas holds 29.9 per cent of club shares, while Romanov still has a controlling interest in investment group UBIG, who own 50 per cent. (Sky neglects to mention that Ukio Bankas have a claim on the 50% against UBIG debts to them)
Adomonis said: "Ukio Bankas has now to deal with lots of debts and return the funds to its creditors.
"In the ongoing processes we must at all times consider the best interest of the creditors of Ukio Bankas.
"Hearts of Midlothian Plc is one of the companies indebted to the bank. There are several possible alternatives to dealing with this case but our initial assessment indicates that most likely the most extensive return for Ukio Bankas creditors may be achieved by keeping the club operating.
"For now we have no reason or desire to harm Hearts so our primary initiative, having solved the regulatory and other issues, is contemplated to be the sale of Hearts."
This statement eases some of the financial concerns about the troubled Edinburgh club, but it still faces the threat of a winding-up order over an unpaid £100,000 tax bill.
Hearts staved off a separate winding-up order last December over a £450,000 tax bill thanks to the generosity of their fans, while the club agreed a repayment plan for a separate bill of more than £1.5m following a dispute over loan deals for players from FBK Kaunas.”
My Comment
The administrators will be looking to sell HMFC as whole including Tynecastle but plus the debt to HMRC. So will be looking for around £10 million. The buyers must have money to on top of that to pay off HMRC and run the club until next season (2014/2015) season ticket money comes in as the bulk of 2013/2014 has likely been spent. This clearly riles out FOH. I don’t believe any other consortium or individual will want to or have the funds to do so either. Looks like a break up with sale of the ground and club separately.
I'm getting a wee bit obsessed watching this Jamie guy on twitter now, how is he able to get answers out of Barry and the rest of us can't? He's just spent the last hour getting quizzed by the sickback account. His latest answer nearly made me choke on the pastille I was eating
JambosKickback @jamb0skickback
@TheJamieRyan Do you know the name of the UBiG director named on request for insolvency in Lithuania?
His replies
Jamie Ryan @TheJamieRyan
@jamb0skickback It was either Rita Matūzienė or Paedophilius Convictedov? I always forget which one. I'll go with Rita
Jamie Ryan @TheJamieRyan
@jamb0skickback Next question please. This time I'll take "arbitrary questions about Hearts" for 500 please Alex.
Are the assests now unfrozen? I thought they were under investigation by the Government re money laundering? Surely they wont want them flogged off.
Nope, still frozen. The bolded part is the relevant part. The assets weren't frozen as some procedural thing AFAIK, they were frozen because they think Vlad is dodgy and they don't want everything being scattered about in a fire sale before they get a chance to find out what he's been upto. It's the financial equivalent of declaring somewhere a crime scene. Nothing moves without explicit consent.Quote:
Originally Posted by Haymaker
As an aside, is the correct term unfrozen or defrosted? (Genuinely wondering as I'm not sure).
Some of these media types really get things wrong. All we need now is Neil Patey to jump in with his wellies and spout a lot of guff.
Thawed? :dunno:Quote:
Originally Posted by Bajillions
Hearts fans a ken arnae bothered.
They hink a 15 point deduction will be clawed back by christmas and thats them back tae normal.
For anyone winding up jambos during these enjoyable times, remember they will defy logic and even their own opinions to avoid losing any ground to a "Hobo". Play on this and you will enjoy the riches of a confused jambo desperately trying to one up their classier, better run, sustainable rivals.Quote:
Originally Posted by HibbyAndy
They only won 11 games last season. So with the deduction and winning a further 6 and heay presto 18 points. Dear dearQuote:
Originally Posted by HibbyAndy
Another first for Hearts .... First club to be relegated from the SPFL :-)
Nice wee read for ten minutes. Brokeback got his arse handed to him and finishes off with words to the effect of "knows everything about us".Quote:
Originally Posted by Bajillions
:top marks
As I've said previously, the liquidation is likely to take a considerable time because of the potentially criminal activities that have taken place and the disappearance of Vlad and resignation of the UBIG board. That means the liquidator has no reason to call in the £15m debt in a hurry. In fact he is better keeping it going since HoMFC are paying him £50k per month and will still owe the full £15m until it falls due in December 2015 (he's unlikely to have finished the liquidation by then in any case).
On top of that he has no power to sell HoMFC because Ukio don't own them. He has a call on a 29.9% shareholding owned by UBIG as security on UBIG's debt to Ukio but he would have to put UBIG into administration before he could take any action with that, and then UBIG themselves will still have 49.9% of the shares to sell to a new owner.
Of course the liquidator wants to keep HoMFC alive so long as they stick to the loan agreement - they're paying a big chunk of his fees apart from anything else - but really this changes very little.
Here's a thought though. Quantum Holdings SA, owned and run by Vlad's niece, owns 15% of HoMFC's shares. Now as I understand it, anyone obtaining a shareholding of 30% or more in a plc has to offer to buy the remaining shares at the same price so FoH or whoever else does buy HoMFC from UBIG will have to offer a further sum to Quantum. Vlad's niece has just resigned from the HoMFC board - I wonder why.
Its for this very reason to me that FoH almost certainly have no chance of taking over. They ideally (and i'm not surprised) would like the club debt free. There is no chance of them keeping the repayments going and then being liable for the full amount two years down the road. No chance of refinancing this either. The liquidator can sit on this as CG says for two years be £1m+ to the good and be in the same (or better, property prices) position as now.Quote:
Originally Posted by Caversham Green
I'd like to know the strategy for FoH thinking they can get in debt free and owning Swynecastle with exactly zero resting in their bank account.
Unless Rolland is doing the accounts.
Interesting...Quote:
Originally Posted by Caversham Green
Just get the feeling they will somehow worm their way out of all this, they are jammy buggers.
No danger whatsoever ................... :rolleyes:Quote:
Originally Posted by Mango Kid
Have you seen there squad for next season? They're already not getting away with it.Quote:
Originally Posted by Mango Kid
Totally agree. Lot of talk on here on her on what could happen where in reality noone knows even hearts themselves!Quote:
Originally Posted by Mango Kid
Quote:
Originally Posted by chrisski33
I think they know the game is almost up................
:wink:
No, people saying what could happen are clearly folk that know what they're talking about, you're just choosing to ignore them, probably because its not happening as fast as you wanted.Quote:
Originally Posted by chrisski33
:smug:that's probably the one for me mate.far too many years of suffering their smugness, despite our sheer bad luck at times, and their sheer good luck! but, what's gonnae happen to the Diggers, viet-nam bar, Robertson's, Tyncastle bar etc? end of an Era, sad to see it go this way eh? :wink:Quote:
Originally Posted by HUTCHYHIBBY
Quote:
Originally Posted by bingo70
:agree:
http://i41.tinypic.com/34e7omv.jpg
I really do hope you are right, it's been the end game for about 5 years now, yet they still won a tainted Scottish cup only over a year ago.Quote:
Originally Posted by bingo70
I know it doesn't look to good for them just now, but who's to say their young players won't gel next season and form a mediocre side?! the SPL isn't exactly a high standard, or maybe they will even be allowed to sign a couple of new players to give them a wee boost, who knows?!
I don't want them around anymore.
:flag:
Quote:
Originally Posted by Mango Kid
Jesus wept, how many posts like this? Can you not see there is no chance of that happening? Look at the state of their squad? They've already been massively harmed and that's before administration, points deductions, transfer embargos and so on and so on. Just enjoy it ffs
Having seen his interview from a few weeks' ago, I'm pretty sure David Southern knows what's coming. His rabbit-in-the-headlights demeanor and refusal to deviate from a carefully chosen phrase (something about being "operationally self-sufficient" or some such nonsense had the hallmarks of a Chief Exec who knows the game is all but up.Quote:
Originally Posted by LeithenHibbyQuote:
Originally Posted by chrisski33
I think they know the game is almost up................
:wink:
I get all that .... Still hasn't stopped them painting some steps, though!Quote:
Originally Posted by Cabbage East
Well yeah, the steps was a sore one but like 5-1, we just have to try and pick up the pieces.Quote:
Originally Posted by clerriehibs
Lithuanian state issued £200 million of debt of varying maturities. Administrators keen to claw back as much as possible to repay debt as it matures before having to make tax rises or cuts in spending. They won't be hanging about!Quote:
Originally Posted by Treadstone
Quote:
Originally Posted by Bajillions
I like 'melted'.Quote:
Originally Posted by jacomoseven
I get the feeling they will wiggle out of it too. I know they appear to be up s**t creek without a paddle but I've seen it happen many times before.
If it could happen a little bit faster please...sick of the jambo at work saying he KNOWS hearts will be saved...I ,wan Wtf?
How about liquified?:greengrinQuote:
Originally Posted by s.a.m
:greengrinQuote:
Originally Posted by blindsummit
What is it exactly that you've seen many times before that leads you to believe that they will wiggle out of it? I'm intrigued!Quote:
Originally Posted by hibs4thecup1988
"Have a little patience" as the pish song goes!
I'm not sure you have seen it happen before, at least not to This degree. Even everything they've "squirmed from" so far is just small game. All it has done is stave it off but with every problem we are getting closer and closer.Quote:
Originally Posted by hibs4thecup1988
don't forget that they've already wasted away the summer's most important income and are struggling to even meet their tax requirements let alone actual wages. it may seem they keep getting away from it but unfortunately for them it's like trying to bail out a sinking ship with a teaspoon. We're entering the endgame.
The credit on the credit cards were being used to pay the repayments on the credit cards, but now the credit cards are maxed out and the credit on the credit cards is no longer there to keep up the repayments. They cant get any more credit cards and now they are struggling. They are dying a slow death.... but #AllisbarryQuote:
Originally Posted by HH_MYB
brilliant. like an episode of TwentyTwelveQuote:
Originally Posted by jacomoseven
is David Southern the head of Deliverance on the HoMFC board?
I can't really understand why ANYONE is rejoicing in the demise of a senior professional Scottish Football club.
Of arrogant, stupid, cretinous, deluded, cheating, bigoted, paedophille, sex trafficking, drug-running, puddle-drinking, window-licking, lying, conniving, two-faced, pishy-breeked, fascist ham shankers.
It really is beyond me.
Let's get behind BOTH Edinburgh teams!
Or on the other hand...
Most of their fans are extras from "Deliverance".Quote:
Originally Posted by Springbank
Sorry for my ignorance but as of today does Vlad junior and the rest of the crew still have control at Tincastle ?, if not then it won't be long until the truth is revealed as to the true goings on at the PBS.
I know I sound naïve in my last post. All I mean is tax bills winding up orders wages deferred they have got away with.
I agree though I'm very impatient. Lol
As UKIO are now in the hands of the administrators, will Hertz recieve thier points deduction?
Or do UBIG have to be formally placed into administration before that can happen (I'm not sure if this has happened yet)?
Ukio isn't involved in the running of Hearts, they are just due UKIO money. UBIG have not yet been officially declared insolvent yet.Quote:
Originally Posted by Gordon Quinn
Ukio went into admin months ago but this had no direct effect on hearts because it is UBIG who are the parent company. Today's announcement means that ukio will now begin the liquidation process.Quote:
Originally Posted by Gordon Quinn
Points deduction should happen when Ubig formally go into admin which will hopefully be very soon.
Reading this, then having a look on Smokecrack, both us and them are happy at today's outcome? Most saying its good as the club will go cheap and all that stuff. Looks like one of the sites will have egg on their faces soon enough either way. I'm just hoping after all this it's not us and they end up scrapping out with the ground and no debt.
Can`t agree with this post Bob.Quote:
Originally Posted by Dashing Bob S
You have missed out Obnoxious, Slavering and Fat Heided.
I've said it before and probably even on this thread.…Quote:
Originally Posted by hibs4thecup1988
Never mind the paddle, they haven't even got a canoe.
So they owed/owe 1.5 million to the taxman and they would also get a 15 point penalty if they went into administration. Haha you can actually imagine them celebrating that or saying it was planned because it mentioned there 1-5 cup win.
I have a horrible feeling this may be likely outcome knowing those jammy *******s.Quote:
Originally Posted by Thecat23
I think the "dream" scenarios of both sides are wildly unrealistic. From their point of view, yes there is an opportunity for the club to be sold as a going concern, but that is dependent on the buyer(s) coming up with a realistic price and business plan. As we saw with the Rangers situation that is far easier said than done. And all the while there are things that will have a severe effect on them that are far more likely to happen and sooner than any takeover: UBIG formally becoming insolvent, points deduction for next season, SPL placing a transfer embargo for non-payment of taxes and/or wages.Quote:
Originally Posted by Thecat23
The dream scenario for some Hibs fans is equally unrealistic - as I have said before, football clubs are very hard to kill. It comes back to what your expectations are from something. If you set your expectations ridiculously high, you're bound to be disappointed. But from a Hibs point of view the bottom line is surely that Hearts will be in a much weaker state almost regardless of how this pans out from now than they were (say) 4-5 years ago. Back then they still had the opportunity to use the Romanov investment wisely, redevelop the stadium (or build a new one) and build much greater success on the pitch. They largely squandered what was (in Scottish terms) a massive capital investment, effectively doubling their resources every year for 6 years.
Has that scallywag been found yet? I hope he's hiding in a cave somewhere in Siberia freezing his nuts aff.Quote:
Originally Posted by greenpaper55