Share Transfers Agreed/Cooling off period

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31-07-2013, 05:12 PM
MSK

Quote:

Originally Posted by Lester B

Oh my god it's the love child of Stevie Fulton and one of the less attractive animals at Gorgie City Farm.

Any ideas on what the beer should be called?

-15 Shilling
31-07-2013, 05:15 PM
alnewhaven

Quote:

Originally Posted by Dashing Bob S

Call me cynical, but the revelations in the creditors report are casting doubts in my mind about their claims to have won two world wars. Perhaps their role in this has been somewhat exaggerated? I'm sure historians will be pouring through the record books as we speak.

Didnt they pave the way for Tom Hanks and Co on Omaheart beach?
31-07-2013, 05:15 PM
kdhibees1

http://img585.imageshack.us/edit_pre...&action=rotate
31-07-2013, 05:16 PM
Hibercelona

Quote:

Originally Posted by Antwerphibs

Seems a bit grim giving the guy abuse for giving cash to a charity no?

From the charities perspective, they simply got back what they were owed. From the clubs perspective, absolutely shameful relying on a fan to pay off this figure, while they splash thousands out on players they can't afford.
31-07-2013, 05:19 PM
ny1875

Quote:

Originally Posted by Www1875hfc

Heart of Midlothian F.C. 1874 - 2013...........embarrassed by nothing, offended by everything.

And hated by everyone
31-07-2013, 05:20 PM
Mon Dieu4

Quote:

Originally Posted by Antwerphibs

Seems a bit grim giving the guy abuse for giving cash to a charity no?

Having read broke back recently, they all seem to hang on every word that chap says, think he likes the attention of allegedly being in the know, it's a Yam variant of ADHD me thinks
31-07-2013, 05:21 PM
Hibbyradge

Quote:

Originally Posted by happyhibbie

-15 Shilling

Excellent. Getd my vote.
31-07-2013, 05:25 PM
lapsedhibee

Quote:

Originally Posted by Mon Dieu4

Just managed to read the BDO release, only a few pages in and there are mistakes already, they are referring to the FSA, that changed to the FCA in April, pedantic I know but would expect them to know something like that for a kick off

Mistakes? Shirley not!

From P5: "Novikovas, who's contract had expired prior to the Joint Administrators appointment"

:bitchy: I have already reported BDO to The Apostrophe Society, even before Sidney writes officially.
31-07-2013, 05:26 PM
Hibercelona

Quote:

Originally Posted by kdhibees1

http://img585.imageshack.us/edit_pre...&action=rotate

http://oi43.tinypic.com/rsu6up.jpg
31-07-2013, 05:29 PM
HUTCHYHIBBY

The boy with the Duff Beer looks like Daniel Sloss' big brother (if he has one).
31-07-2013, 05:37 PM
Kaiser1962

Quote:

Originally Posted by Www1875hfc

Heart of Midlothian F.C. 1874 - 2013...........embarrassed by nothing, offended by everything.

The original HMFC was founded in 1874 and incorporated in 1903 about a month earlier than Hibs. That 1874 incarnation, however, folded in March 1905 and started as a Newco in April 1905. If you recall the Rangers fiasco in that, in Scots Law, the corporate entity is inseperable from the club then this incarnation of the Yams is the original Sevco. The yams proudly claim titles won in 1895 1897 and Cups won in 1894,1899 and 1904 (yes, they went bust a year after winning a Scottish Cup, spooky or what?) whilst claiming Sevco are a new start with no history.

*Yes we folded in 1891 but we were not an incorporated body at the time so we were able to pick up where we left off.
31-07-2013, 05:39 PM
Onceinawhile

Quote:

Originally Posted by Hibercelona

From the charities perspective, they simply got back what they were owed. From the clubs perspective, absolutely shameful relying on a fan to pay off this figure, while they splash thousands out on players they can't afford.

Agreed, but giving the guy that paid it abuse?
31-07-2013, 05:41 PM
HUTCHYHIBBY

Quote:

Originally Posted by Antwerphibs

Agreed, but giving the guy that paid it abuse?

Thought it was a tad harsh myself.
31-07-2013, 05:42 PM
Hibercelona

Quote:

Originally Posted by Antwerphibs

Agreed, but giving the guy that paid it abuse?

I don't think anybody is giving the fan any abuse. Certainly not on here anyway.
31-07-2013, 05:44 PM
Caversham Green

Quote:

Originally Posted by Mon Dieu4

Just managed to read the BDO release, only a few pages in and there are mistakes already, they are referring to the FSA, that changed to the FCA in April, pedantic I know but would expect them to know something like that for a kick off

A much bigger mistake is the share capital. They're showing it as 146m shares of £1 each =£146m. It's actually 146m shares of 10p each = £14.6m.

You can't get the staff these days.
31-07-2013, 05:45 PM
Mikey

There's a glaring error in that document. In fact, it's an absolute stonker.

How much are BDO helping themselves to in fees?
31-07-2013, 05:46 PM
Mikey

Quote:

Originally Posted by Caversham Green

A much bigger mistake is the share capital. They're showing it as 146m shares of £1 each =£146m. It's actually 146m shares of 10p each = £14.6m.

You can't get the staff these days.

Beat me to it :greengrin
31-07-2013, 05:46 PM
kdhibees1

Quote:

Originally Posted by Antwerphibs

Agreed, but giving the guy that paid it abuse?

Banter, just pure banter!
31-07-2013, 05:47 PM
CropleyWasGod

Quote:

Originally Posted by Mikey

There's a glaring error in that document. In fact, it's an absolute stonker.

How much are BDO helping themselves to in fees?

Think they say in there £189k thus far.
31-07-2013, 05:48 PM
Mikey

Quote:

Originally Posted by CropleyWasGod

Think they say in there £189k thus far.

Well for all we know that could be £1.89, £18.90, £1890.00, or anywhere the decimal point decides to fall. That seems to be how they work things out.
31-07-2013, 05:51 PM
CropleyWasGod

Quote:

Originally Posted by Mikey

Well for all we know that could be £1.89, £18.90, £1890.00, or anywhere the decimal point decides to fall. That seems to be how they work things out.

:greengrin

Page 9, para 11.

"we do not intend to draw a fee until it has been agreed with the secured creditor"

should read "we do not intend to draw a fee until we can get our calculator working."
31-07-2013, 05:52 PM
lapsedhibee

Quote:

Originally Posted by Mikey

How much are BDO helping themselves to in fees?

They're promising not to help themselves to the "ring-fenced" £48k raised in bake sales for their fees unless it's absolutely necessary for them to do so.
31-07-2013, 05:53 PM
Baldy Foghorn

I don't understand how they owe all that spondooly?? Thought they were self sufficient.....Im confused:confused:
31-07-2013, 05:57 PM
Prof. Shaggy

Quote:

Originally Posted by HUTCHYHIBBY

The boy with the Duff Beer looks like Daniel Sloss' big brother (if he has one).

Actually looks frighteningly like my namesake's big brother.
31-07-2013, 05:59 PM
Caversham Green

Quote:

Originally Posted by CropleyWasGod

:greengrin

Page 9, para 11.

"we do not intend to draw a fee until it has been agreed with the secured creditor"

should read "we do not intend to draw a fee until we can get our calculator working."

I thought they were taking it out of the ST sales...
31-07-2013, 06:00 PM
Keith_M

The article in the Herald has the BDO fees so far as £227,000

This is an interesting quote from the article:

"The Lady Haig Poppy Factory in Edinburgh is owed £185. A spokeswoman stressed this was not a public donation that had not been handed over but an unpaid purchase from the factory, most likely to be a wreath."

:hmmm:

Now, call me suspicious but wouldn't it be ironic if they bought this wreath for The Hearts War Memorial and it had never been paid for. Especially considering how much they've played up to this in recent years
31-07-2013, 06:02 PM
Mikey

Quote:

Originally Posted by Caversham Green

I thought they were taking it out of the ST sales...

I think they're trying to drive up the price of Holt to cover their fees. Didn't CWG say that :dunno:
31-07-2013, 06:07 PM
BarneyK

Just have to say - well done CWG for breaking this story and in doing so showing the mainstream media how they should be doing their jobs. See them all jump on it now, mind. They'd be none the wiser if it weren't for our resident .net experts. :top marks
31-07-2013, 06:12 PM
Mikey

Quote:

Originally Posted by keekaboo

The article in the Herald has the BDO fees so far as £227,000

This is an interesting quote from the article:

"The Lady Haig Poppy Factory in Edinburgh is owed £185. A spokeswoman stressed this was not a public donation that had not been handed over but an unpaid purchase from the factory, most likely to be a wreath."

:hmmm:

Now, call me suspicious but wouldn't it be ironic if they bought this wreath for The Hearts War Memorial and it had never been paid for. Especially considering how much they've played up to this in recent years

It seems that the McCrae Battalion Trust have settled this, meaning MBT are out their own money and this amount too.

Maybe one of the mouthpiece's who repeatedly told us that Hearts were self sufficient should square them up. David Southern would be a good place to start seeing as he had the power to pay them while he was in charge.
31-07-2013, 06:14 PM
CropleyWasGod

Quote:

Originally Posted by keekaboo

The article in the Herald has the BDO fees so far as £227,000

T
s

Good old Herald. Never one to let the truth stand in the way of a good headline. (sorry, I've had dealings with them in another part of my life).

Their figure includes VAT. Hearts will pay the £227k, and reclaim the VAT. The net cost will be £189k.
31-07-2013, 06:15 PM
Craig_in_Prague

so tomorrow is the hearing & decision on their 'penalty' ?
hope its a fine :)
31-07-2013, 06:17 PM
Hibercelona

Quote:

Originally Posted by Craig_in_Prague

so tomorrow is the hearing & decision on their 'penalty' ?
hope its a fine :)

A fine would be meaningless. Further point deductions would be nice.
31-07-2013, 06:18 PM
lapsedhibee

Quote:

Originally Posted by CropleyWasGod

Good old Herald. Never one to let the truth stand in the way of a good headline. (sorry, I've had dealings with them in another part of my life).

Their figure includes VAT. Hearts will pay the £227k, and reclaim the VAT. The net cost will be £189k.

:hmmm:
31-07-2013, 06:18 PM
CropleyWasGod

Quote:

Originally Posted by Hibercelona

A fine would be meaningless. Further point deductions would be nice.

That would be outwith the SFA's powers.

Quote:

Originally Posted by lapsedhibee

:hmmm:

:na na:
31-07-2013, 06:18 PM
Keith_M

Quote:

Originally Posted by Mikey

It seems that the McCrae Battalion Trust have settled this, meaning MBT are out their own money and this amount too.

Maybe one of the mouthpiece's who repeatedly told us that Hearts were self sufficient should square them up. David Southern would be a good place to start seeing as he had the power to pay them while he was in charge.

Thanks, that backs up my theory then that a representative of Hearts laid a Wreath on the War Memorial for which the club never paid a penny.

In anybody's language, that's absolutely shameful; especially so considering the club themselves have mentioned the sacrifice of the McRaes Battalion in order to rally the modern day troops to give them money.

Heart of Midlothian, The Club with No Shame!
31-07-2013, 06:19 PM
HUTCHYHIBBY

Quote:

Originally Posted by CropleyWasGod

"we do not intend to draw a fee until it has been agreed with the secured creditor"

Phew, I can sleep at night now, been wondering when that would surface.
31-07-2013, 06:19 PM
21.05.2016

Quote:

Originally Posted by Hibercelona

A fine would be meaningless. Further point deductions would be nice.

:pray:

Knowing the SPFL though it'll be some petty wee "punishment" and the yams will walk out breathing a sigh of relief.
31-07-2013, 06:19 PM
Springbank

Quote:

Originally Posted by Sconaldo

They're even due money to the British Red Cross & Macrae's & the Poppy Fund..?

banner potential....

Hearts are Cheats

Lest We Forget
31-07-2013, 06:20 PM
CropleyWasGod

Quote:

Originally Posted by NumberSeven

:pray:

Knowing the SPFL though it'll be some petty wee "punishment" and the yams will walk out breathing a sigh of relief.

Cough.

It's the SFA.

Cough
31-07-2013, 06:21 PM
21.05.2016

Quote:

Originally Posted by keekaboo

Thanks, that backs up my theory then that a representative of Hearts laid a Wreath on the War Memorial for which the club never paid a penny.

In anybody's language, that's absolutely shameful; especially so considering the club themselves have mentioned the sacrifice of the McRaes Battalion in order to rally the modern day troops to give them money.

Heart of Midlothian, The Cub with No Shame!

:agree:

Horrible, grotty, lying, moral less institution with absolutely no shame.

Quote:

Originally Posted by CropleyWasGod

Cough.

It's the SFA.

Cough

Sorry lol even still I still expect them to take a very lenient approach to the that mob tomorrow unfortunately.
31-07-2013, 06:28 PM
Danderhall Hibs

Has anyone suggested that Hibs should donate the money to the poppy folk and macraes batallion - let's take the moral high ground once and for all.
31-07-2013, 06:30 PM
CropleyWasGod

Quote:

Originally Posted by Danderhall Hibs

Has anyone suggested that Hibs should donate the money to the poppy folk and macraes batallion - let's take the moral high ground once and for all.

According to Jack Alexander, it's been paid.
31-07-2013, 06:30 PM
IFONLY

Quote:

Originally Posted by CropleyWasGod

That would be outwith the SFA's powers.

S.F.A. doesnt exist anymore.
31-07-2013, 06:31 PM
CropleyWasGod

Quote:

Originally Posted by IFONLY

S.F.A. doesnt exist anymore.

Bloody hell.

Better tell 'em. There's a meeting scheduled for tomorrow.

ps... they do exist. It's the SPL that doesn't.
31-07-2013, 06:45 PM
FranckSuzy

Quote:

Originally Posted by keekaboo

Thanks, that backs up my theory then that a representative of Hearts laid a Wreath on the War Memorial for which the club never paid a penny.

In anybody's language, that's absolutely shameful; especially so considering the club themselves have mentioned the sacrifice of the McRaes Battalion in order to rally the modern day troops to give them money.

Heart of Midlothian, The Cub with No Shame!

Best not to mention young children's organisations in the same breath as THEM, me thinks :wink: :greengrin
31-07-2013, 06:49 PM
Hibercelona

Quote:

Originally Posted by IFONLY

S.F.A. doesnt exist anymore.

One can only dream.
31-07-2013, 06:50 PM
green glory

Allisbarry has been very quiet today. In hindsight his timeline must be a source of some embarrassment to him.

Maybe.
31-07-2013, 06:59 PM
Technofob

Quote:

Originally Posted by CropleyWasGod

According to Jack Alexander, it's been paid.

Noticed that too - so what did The Gasman pay?? #allverycomplex
31-07-2013, 07:02 PM
Treadstone

Quote:

Originally Posted by CropleyWasGod

Cav spotted that the UBIG debt had fallen from £10m to £8m. That suggests that UBIG "took" £2m.

A great leap of logic, but one might just see the situation whereby the shares money maybe found its way perhaps into UBIG's bank account.

Maybe.

Quote:

Originally Posted by Sergey

It does seem somewhat strange that the UBIG debt has been reduced. I'd guess that it's the share money and part of their ST proceeds that's been hived off.

I'll see what I can find out about the Lith companies on the list.

Jamie Borthwick ‏@jamiekborthwick 3h
Correction on earlier. £1.2m loan from UBIG to Hearts was transferred to this 'Milson' corp in March 2013 http://sport.stv.tv/football/clubs/hearts/234601-hearts-debts-total-285m-administraor-report-reveals/ …
31-07-2013, 07:04 PM
green glory

1 Attachment(s)

I've solved the mystery of this Saville crowd, it seems they manufacture these.

Attachment 10756
31-07-2013, 07:07 PM
Baldy Foghorn

Savills are an estate agent, must be when they were sourcing their 400k capacity ground?
31-07-2013, 07:07 PM
1two

I like this twitter account related to the The Rangers https://twitter.com/RFCCreditors

So I made this related to Hearts https://twitter.com/HOMFCCreditors

:aok:
31-07-2013, 07:09 PM
Hibby Kay-Yay

Quote:

Originally Posted by Treadstone

Jamie Borthwick ‏@jamiekborthwick 3h
Correction on earlier. £1.2m loan from UBIG to Hearts was transferred to this 'Milson' corp in March 2013 http://sport.stv.tv/football/clubs/hearts/234601-hearts-debts-total-285m-administraor-report-reveals/ …

"boy that escalated quickly...I mean that really got out of hand" - Ron Burgandy
31-07-2013, 07:10 PM
YehButNoBut

BBC story re the debt has a bit more detail than some but still no mention of the sums owed to charities, when these should be highlighted in the press. :rolleyes:

http://www.bbc.co.uk/sport/0/football/23521149

Administrators reveal level of Hearts' debt

Hearts' unsecured creditors are likely to receive nothing in the event of an exit from administration via a company voluntary arrangement [CVA].

Total claims by club creditors amount to £28.4m, the bulk of which is owed to the collapsed Lithuanian companies of former owner Vladimir Romanov.

Ukio Bankas, who are owed £15.5m, hold Tynecastle Stadium as security against that debt.

And the value of the property is less than that amount.

The "book value" of the stadium from Hearts' statutory accounts in 2012 is listed at more than £13m.

The administrators have since commissioned a revaluation of Tynecastle but have not released details "so as not to prejudice the current sale" of the Edinburgh club.

BDO do say that a "nil value" has been placed on the leasehold interest Hearts have on their training complex at Riccarton, Herriot Watt University.

An initial creditors meeting will take place on 12 August, the day after the first Edinburgh derby of the new season.

Shareholders Ukio Bankas and UBIG are owed around £24m of the debt, making an exit via a CVA dependent on the approval of administrators acting on their behalf.

The administrator for Ukio Bankas has already dismissed the ongoing bids for the club as unacceptable.

In the report, distributed to all creditors, BDO state that rescuing Hearts through a CVA is its first objective.

A second option is listed as "a better result than liquidation", with winding up the club and realising property values the last resort.

Hearts debt to HM Revenue & Customs now stands at close to £1.9m, with Edinburgh Council owed more than £90,000, Big Hearts Community Trust (£34,000) and the Scottish Police Authority (£18,500).

The Scottish Football Association, which is owed £5,500, is almost certain to insist that any new owner of the club inherit the "football debt".

Money owed in wage arrears combined with cash for players made redundant and fees outstanding to Liverpool, Rangers, Ayr United, Kaunas, Musselburgh Athletic, Livingston, Stenhousemuir and Musselburgh Athletic totals £535,000.

Administrators fees for the running of Hearts have topped £227,000 in the first six weeks, with BDO saying they will not take any payment until it is agreed with those representing Ukio Bankas and UBIG.

BDO has recorded a trading surplus of £958,000 since taking over on 20 June, the vast majority coming from season-ticket sales.

The administrators also secured a £100,000 compensation fee for Arvydas Novikovas, who joined German side Erzgebirge Aue, while £48,000 in donations has been ring-fenced.

Meanwhile, BDO will attend a hearing with the Scottish FA on Thursday where additional sanctions for Hearts' insolvency may be imposed.
31-07-2013, 07:14 PM
RoslinInstHibby

Quote:

Originally Posted by BarneyK

Just have to say - well done CWG for breaking this story and in doing so showing the mainstream media how they should be doing their jobs. See them all jump on it now, mind. They'd be none the wiser if it weren't for our resident .net experts. :top marks

Agreed, superb work!
31-07-2013, 07:15 PM
lapsedhibee

Quote:

Originally Posted by YehButNoBut

The administrators also secured a £100,000 compensation fee for Arvydas Novikovas, who joined German side Erzgebirge Aue, while £48,000 in donations has been ring-fenced.

Ring-fenced unless BDO need to use it for their fees.
31-07-2013, 07:25 PM
Sanger

Quote:

Originally Posted by hwuhibby

Agreed, superb work!

Yes great work. The Yams in the office turned white when I forwarded it to them!
31-07-2013, 07:42 PM
tamsonsbairn

Quote:

Originally Posted by Dobosz83

There was me being informed by many Jambo's on Friday morning that my club were a complete and utter embarassment to the Scottish game after losing a football match.

Hibs may lose on the park, and results at times may be a shambles but going through that creditors list is a total and utter disgrace. Charities, Junior Clubs, Police, NHS, hotels, coaching companies etc. You name it - they just bumped them.

Quote:

Originally Posted by JOD

David Cameron £103.00 (Even PM was shafted) :cb :tee hee:

Quote:

Originally Posted by Sconaldo

http://gs.delfi.lt/images/pix/300x18...9_d8a652ca.jpg
' Am I bovvered? '

Honest the hearts money was just resting in my account. :pfgwa
31-07-2013, 07:46 PM
Jack

Maybe as 'concerned Edinburgh resident' the administrators in Lithuania could be gifted private membership of dotnet?

It would probably be the best 20 quid any Hibee has ever spent.
31-07-2013, 07:46 PM
...WentToMowAnSPL

I like this one... From liquidback

"CJGJ, on 31 July 2013 - 07:53 PM, said:

So how is Massone going to fund the football debt? so he must also be out of the running."

Erm do you need to settle footballing debts to build flats, offices or shops ??
31-07-2013, 07:48 PM
Ozyhibby

It's important the SFA increase the signing ban past January. Last thing we want is the yams building up another warchest in November when the Poppies go sale.
31-07-2013, 07:51 PM
sidneyhibbie

Quote:

Originally Posted by Benny Brazil

Good man sidney - I admire your enthusiasm

Cheers mate, i think of every letter i write as another nail in the yams coffin, if it stirs up a hornets nest all the better they have cheated for years and its pay back time.:aok:
31-07-2013, 07:53 PM
Stantons Angel

Quote:

Originally Posted by bingo70

And Liverpool so I'm guessing they must have 'paid' for Michael ngoo!!!!!

As a loan player they would be due to pay part of his wages to Liverpool who in turn would pay the player as still on their books.

Obviously they found out what he was like and decided not to pay Liverpool at all................. or they just havent met their side of the bargain on the loan agreement.

They are doing the very same as Rangers and this list of creditors proves it. They were playing players they could not afford who won cups for them. Their wages might have been from monies collected for the Big Hearts Trust, macraes battalion and lady haig poppy factory.......

Rangers were taken to the cleaners by the SFA/SPL and dropped down to the third division AND IMHO this is were they should be!!!
Disgusting reading !
31-07-2013, 07:55 PM
CraigHibee

Horrible ****my hearts *******s

owing money to charities! Terrible, hope they rot
31-07-2013, 07:57 PM
HFC 0-7

Quote:

Originally Posted by cad

http://gs.delfi.lt/images/pix/300x18...9_d8a652ca.jpg

You wanna buy a submarine

"Ha ha ha, honestly I told them I would sell them shares, I told them they are worthless and they still went for it!! Honestly I had to use two hands to carry the bag full of cash out of Tynecastle. I didnt even bother with share certificates and they still love me!!"
31-07-2013, 08:00 PM
sidneyhibbie

Quote:

Originally Posted by CraigHibee

Horrible ****my hearts *******s

owing money to charities! Terrible, hope they rot

I Will post many letters tomorrow to all the main news papers this news must be highlighted cheating charities now this is shocking news.:hnet: the power oh the pen is mightier than the Sword.

Sidney.:not worth
31-07-2013, 08:01 PM
jeffers

Am I missing something here ? They owe the police £18,500, is that going to be paid ? If it's not how can the possibly play any more home games ?
31-07-2013, 08:02 PM
woody0-7

Quote:

Originally Posted by HFCDaveA

"Ha ha ha, honestly I told them I would sell them shares, I told them they are worthless and they still went for it!! Honestly I had to use two hands to carry the bag full of cash out of Tynecastle. I didnt even bother with share certificates and they still love me!!"

Haha excellent mate :-)
31-07-2013, 08:04 PM
Sergey

Quote:

Originally Posted by sidneyhibbie

Cheers mate, i think of every letter i write as another nail in the yams coffin, if it stirs up a hornets nest all the better they have cheated for years and its pay back time.:aok:

you're a sterling young fellow, sid - remember; every letter you write will be filed for future reference.

you are the man main
31-07-2013, 08:04 PM
CropleyWasGod

Quote:

Originally Posted by jeffers

Am I missing something here ? They owe the police £18,500, is that going to be paid ? If it's not how can the possibly play any more home games ?

All debt prior to administration won't be paid.

All debt since then will be.
31-07-2013, 08:04 PM
Springbank

Quote:

Originally Posted by jeffers

Am I missing something here ? They owe the police £18,500, is that going to be paid ? If it's not how can the possibly play any more home games ?

Fair point

The police service Scotland (under the guise of the then Strathclyde Police) refused to police games at Ibrox last year
31-07-2013, 08:05 PM
kdhibees1

Quote:

Originally Posted by sidneyhibbie

I Will post many letters tomorrow to all the main news papers this news must be highlighted cheating charities now this is shocking news.:hnet: the power oh the pen is mightier than the Sword.

Sidney.:not worth

Sidney, you my friend are a ruddy legend!!!:applause:
31-07-2013, 08:08 PM
bingo70

Quote:

Originally Posted by jeffers

Am I missing something here ? They owe the police £18,500, is that going to be paid ? If it's not how can the possibly play any more home games ?

That's the nature of administration, they're drawing a line in the sand and admitting they can't afford the debts they've accumulated. The police will agree to police future games as it'll be a new owner.
31-07-2013, 08:10 PM
jeffers

Quote:

Originally Posted by CropleyWasGod

All debt prior to administration won't be paid.

All debt since then will be.

Thanks CWG, you'd think tho' the police would be justified in refusing to do any more games while they are owed money. If someone owed me for a service I had provided and told me I wouldn't see that money but wanted me to continue, I know what my response would be.
31-07-2013, 08:10 PM
lapsedhibee

Quote:

Originally Posted by Sergey

you're a sterling young fellow, sid

:agree: Sidney has now raised awareness of so many topics with so many people that he's become a kind of focus for all that needs to be done. Shouldn't we channel all future concerns through him? We could start a campaign to make sure that he knows about anything and everything that needs to be raised with anyone and everyone. Perhaps this campaign could have as its slogan "Tell Sid" ?
31-07-2013, 08:19 PM
YehButNoBut

Quote:

Originally Posted by lapsedhibee

:agree: Sidney has now raised awareness of so many topics with so many people that he's become a kind of focus for all that needs to be done. Shouldn't we channel all future concerns through him? We could start a campaign to make sure that he knows about anything and everything that needs to be raised with anyone and everyone. Perhaps this campaign could have as its slogan "Tell Sid" ?

http://www.urban75.org/photos/rye/images/rye054.jpg
31-07-2013, 08:23 PM
clerriehibs

I know it will have been asked, and answered, earlier, but why so many debts to all sorts of companies for £100? What's that all about?
31-07-2013, 08:27 PM
CropleyWasGod

Quote:

Originally Posted by clerriehibs

I know it will have been asked, and answered, earlier, but why so many debts to all sorts of companies for £100? What's that all about?

Don't know if it has been asked.

I suspect that there are a few estimated figures in there. The accounting records of HMFC are, I am guessing, in a poor state and it was probably very difficult to compile that list in such a short time. There will be mistakes in the list.... see the poppy thread as an example... and other situations where it has not been possible to establish the exact amount of debts. Thus estimates will have been made, and those £100's may be an example of that.

All debts are adjudicated, ie have to be proven by the creditor. BDO acknowledge that, and there will be many changes to that list.

Quote:

Originally Posted by jeffers

Thanks CWG, you'd think tho' the police would be justified in refusing to do any more games while they are owed money. If someone owed me for a service I had provided and told me I wouldn't see that money but wanted me to continue, I know what my response would be.

But they are getting money for current work. That's the issue. Refusing to do any more games would be a daft decision commercially. They know that they'll get paid for these ones, so why would they turn it down?
31-07-2013, 08:30 PM
bighairyfaeleith

I'm intrigued by all the kaunas based companies that are owed money by hearts, how long have these companies been submitting invoices for hundreds of thousands?

What are these bills for?
Who are the directors of these companies?

I suspect I know the answers but would be good to get some proof
31-07-2013, 08:34 PM
clerriehibs

Quote:

Originally Posted by CropleyWasGod

Don't know if it has been asked.

I suspect that there are a few estimated figures in there. The accounting records of HMFC are, I am guessing, in a poor state and it was probably very difficult to compile that list in such a short time. There will be mistakes in the list.... see the poppy thread as an example... and other situations where it has not been possible to establish the exact amount of debts. Thus estimates will have been made, and those £100's may be an example of that.

All debts are adjudicated, ie have to be proven by the creditor. BDO acknowledge that, and there will be many changes to that list.

Cheers.

Apart from the fun aspect for us, almost a waste of effort by BDO? Apart from the big two, will any of these creditors will ever get paid anything in the pound? Any CVA is almost certainly going to be the Dunfermline flavour.
31-07-2013, 08:37 PM
CropleyWasGod

Quote:

Originally Posted by clerriehibs

Cheers.

Apart from the fun aspect for us, almost a waste of effort by BDO? Apart from the big two, will any of these creditors will ever get paid anything in the pound? Any CVA is almost certainly going to be the Dunfermline flavour.

At £189k thus far, certainly not a waste of effort :greengrin

My thinking now is that UBIG will get shafted, and that only UKIO will get anything, whether by a CVA or liquidation. Up until today, I wasn't sure about the security situation, but now that BDO have clarified it, I can't see any way of UBIG getting anything.

Ask me again tomorrow.... :greengrin
31-07-2013, 08:38 PM
lord bunberry

Quote:

Originally Posted by CropleyWasGod

But they are getting money for current work. That's the issue. Refusing to do any more games would be a daft decision commercially. They know that they'll get paid for these ones, so why would they turn it down?

Because they know hearts have the means to pay what they are owed, and they know if they refuse to police future hearts games then hearts won't be allowed to play.
31-07-2013, 08:40 PM
CropleyWasGod

Quote:

Originally Posted by lord bunberry

Because they know hearts have the means to pay what they are owed, and they know if they refuse to police future hearts games then hearts won't be allowed to play.

They don't have the means to pay what the owe, prior to administration.

They only have the means to pay what they owe currently.

So the police's income is virtually secured.
31-07-2013, 08:41 PM
Col2

Quote:

Originally Posted by CropleyWasGod

All debt prior to administration won't be paid.

All debt since then will be.

Understand that but will be interesting to see stance of police for future games, minimum cash up front?

Wonder if Heriot Watt arrangement to let them train once a day (before U14 netball team use it) will remain or not? Appreciate legal position but common sense would make me say stuff it, you can find somewhere else unless you pay on advance?
31-07-2013, 08:42 PM
CropleyWasGod

Quote:

Originally Posted by Col2

Understand that but will be interesting to see stance of police for future games, minimum cash up front?

Wonder if Heriot Watt arrangement to let them train once a day (before U14 netball team use it) will remain or not? Appreciate legal position but common sense would make me say stuff it, you can find somewhere else unless you pay on advance?

The police and BDO will have an arrangement, just as there was with Rangers.

I'm sure that HWU have a similar arrangement; think that was mentioned a few weeks back.
31-07-2013, 08:43 PM
lord bunberry

Quote:

Originally Posted by CropleyWasGod

They don't have the means to pay what the owe, prior to administration.

They only have the means to pay what they owe currently.

So the police's income is virtually secured.

Are the administrators not allowed to pay debts that were run up prior to administration?
31-07-2013, 08:46 PM
jgl07

Quote:

Originally Posted by lord bunberry

Are the administrators not allowed to pay debts that were run up prior to administration?

Surely not?

That would amount to giving preference to one creditor over others,
31-07-2013, 08:47 PM
CropleyWasGod

Quote:

Originally Posted by lord bunberry

Are the administrators not allowed to pay debts that were run up prior to administration?

No. They are effectively frozen.

That's what this list is. A (provisional) list of monies owed at the date of administration.
31-07-2013, 08:48 PM
Hibernia Na Eir

What a devious little outfit they are. Knowingly taking on debts in the full knowledge they weren't ever gonna deliver payments.

Punish them. End them!
31-07-2013, 08:52 PM
monktonharp

Quote:

Originally Posted by Puzzle

Spotted that too, only incorporated on 7th March 2013. Registered office seems to be HBJ. Lot of debt to rack up in three months. :confused:

there is a company in the same building(or was) Ensco 146:confused: dissolution date there too for it/them
31-07-2013, 08:52 PM
bighairyfaeleith

Quote:

Originally Posted by Hibernia Na Eir

What a devious little outfit they are. Knowingly taking on debts in the full knowledge they weren't ever gonna deliver payments.

Punish them. End them!

What a deviant little outfit they are, harbouring known sex offenders for several years.

Punish Them, End Them!
31-07-2013, 08:52 PM
lord bunberry

Quote:

Originally Posted by CropleyWasGod

No. They are effectively frozen.

That's what this list is. A (provisional) list of monies owed at the date of administration.

Sorry I didn't realise that.
31-07-2013, 08:54 PM
Hibernia Na Eir

Quote:

Originally Posted by CropleyWasGod

No. They are effectively frozen.

That's what this list is. A (provisional) list of monies owed at the date of administration.

so, how DID they pay for their Belfast jaunt?
if someone borrowed money, or was due me money, and feked off to another country, I'd be mighty peeved if I didn't see my £'s again!

I guess an outfit such as that lot don't know the meaning of morality.

Quote:

Originally Posted by bighairyfaeleith

What a deviant little outfit they are, harbouring known sex offenders for several years.

Punish Them, End Them!

.....harbouring Corbett too! holy fek!
31-07-2013, 08:56 PM
bighairyfaeleith

Quote:

Originally Posted by CropleyWasGod

No. They are effectively frozen.

That's what this list is. A (provisional) list of monies owed at the date of administration.

but what if the police did refuse, the only way to continue to operate would be to pay the previous bill, surely they wouldn't just cease trading rather than pay that one bill?

Quote:

Originally Posted by Hibernia Na Eir

.....harbouring Corbett too! holy fek!

he is easily hidden
31-07-2013, 08:57 PM
CropleyWasGod

Quote:

Originally Posted by Hibernia Na Eir

so, how DID they pay for their Belfast jaunt?
if someone borrowed money, or was due me money, and feked off to another country, I'd be mighty peeved if I didn't see my £'s again!

I guess an outfit such as that lot don't know the meaning of morality.

They would have got a guarantee of income from the tournament organiser.

Quote:

Originally Posted by bighairyfaeleith

but what if the police did refuse, the only way to continue to operate would be to pay the previous bill, surely they wouldn't just cease trading rather than pay that one bill?

As JGL says, BDO aren't allowed to favour one creditor over another, so that couldn't be paid.

I would think it pretty daft of the police to refuse. A publicly-funded body, turning down guaranteed substantial income? I wouldn't like to be the cop who took that decision...
31-07-2013, 09:01 PM
The Falcon

Quote:

Originally Posted by CropleyWasGod

No. They are effectively frozen.

That's what this list is. A (provisional) list of monies owed at the date of administration.

Do we know how much the securities in favour of UKIO and/or UBIG are yet? And would this be excluded from any CVA vote? Also the Novikovas £100k is that not income from an asset that should be covered by the "floating charge"?

apologies in advance .

It must rankle with a lot of these smaller guys/ public bodies owed money that HMFC are sitting on £1m and they wont get their money.
31-07-2013, 09:02 PM
sidneyhibbie

Quote:

Originally Posted by YehButNoBut

http://www.urban75.org/photos/rye/images/rye054.jpg

Thanks guys i am trying my best every letter and Email i send is a nuclear bomb fired into the PBS my relentless pursuit of justice will continue till the bitter end:thumbsup:
31-07-2013, 09:03 PM
bighairyfaeleith

Quote:

Originally Posted by CropleyWasGod

As JGL says, BDO aren't allowed to favour one creditor over another, so that couldn't be paid.

I would think it pretty daft of the police to refuse. A publicly-funded body, turning down guaranteed substantial income? I wouldn't like to be the cop who took that decision...

I know, I understand it is unlikely for all the reasons given, however surely if you held them over a barrel they would have to pay would they not?

After all by paying they get revenue from being able to play more games

Quote:

Originally Posted by sidneyhibbie

Thanks guys i am trying my best every letter and Email i send is a nuclear bomb fired into the PBS my relentless pursuit of justice will continue till the bitter end:thumbsup:

has anyone ever seen one of these letters, would like to read one, any printed?
31-07-2013, 09:03 PM
21.05.2016

Quote:

Originally Posted by sidneyhibbie

Thanks guys i am trying my best every letter and Email i send is a nuclear bomb fired into the PBS my relentless pursuit of justice will continue till the bitter end:thumbsup:

Gon yersel son :wink::greengrin:top marks
31-07-2013, 09:05 PM
CraigHibee

Quote:

Originally Posted by sidneyhibbie

I Will post many letters tomorrow to all the main news papers this news must be highlighted cheating charities now this is shocking news.:hnet: the power oh the pen is mightier than the Sword.

Sidney.:not worth

The media should be making a massive issue of this, it's morally wrong, it's hearts though so they probably see this as being acceptable for them

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