Share Transfers Agreed/Cooling off period

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Originally Posted by Bajillions

I've been speaking to my sources this morning. Here's the skinny from both Hearts and the SPFL.

The feeling internally at Hearts is that Liquidation is the most likely outcome. This is because the bids submitted to UKIO were not the original offers, BDO had already advised the bidders they were unacceptable and asked them to increase them, HMFC Ltd gave their highest offer first time so they had no where else to go but drop out. The FOH have very little cash for a CVA (compared to the size of the debt) and there is concern about how much of the direct debits will be used to run the club and how much will be used to repay the startup costs.

There is also the added hurdles of the assets still being frozen. BDO have made it clear that this is not anywhere near as easy to resolve as the press has made out. BDO were also hoping that the creditors list would go under the radar, they knew some of the names would result in negative press but ultimately it's not their problem.

BDO are duty bound to follow this path until it becomes impossible though. They're not going to give up until they have to because their reputation and future business is on the line.

Now, the SPFL.

They've been discussing with their lawyers about what the options available are and their hands are tied. They refused financial assistance on 2 separate occasions before admin occurred because they want as much possible left in the pot to deal with Hearts no longer being in the league if needs be. The lawyers have told them they will be wide open to litigation if they don't do this by the book. No decision has been made yet about what the punishment will be tomorrow, it's only fair to hear Hearts side of the story before making a decision. BDO gave repeated assurances to the SPL that Hearts will be able to fulfil they're fixtures including providing proof of funding (What they currently have in the bank and projected earnings during the season). BDO have good stock within the SPFL as they've always been open and honest in the past.

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Have your sources gave you a prediction of when they think liquidation is most likely to take place, if it does?

That list is shameful (businesses they have used and completely disregarded including charities) and hilarious in parts - one individual is owed £41!!!

Will be an absolute disgrace if they get out of this without squaring off the many they conned along the way while still signing players...

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Originally Posted by Bajillions

I forgot to add, there is no "Debt Free" scenario for Hearts to exit administration. Massone's bid has a loan that will be taken over by the club apparently and the FOH have to pay back all of the money they are using to buy the club. Both will have to pay back the footballing debt.

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sorry, Bajillions, but for financial illiterates like myself, can you explain this a bit more?

Will Masssone's bid be funded 100% by club? Edit: Via loan which is landed on the club? So, he takes it over, realises the assets and pockets the proceeds and, bang, into admin. we go again?

For FoH you say they have to pay back all the money. To whom? Aren't the pledges the equivalent of gifts? I am not seeing why they would legally be obliged to pay that back if it has been freely and voluntarily handed over with no strings attached.

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Originally Posted by Baader

That list is shameful (businesses they have used and completely disregarded including charities) and hilarious in parts - one individual is owed £41!!!

Will be an absolute disgrace if they get out of this without squaring off the many they conned along the way while still signing players...

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An interesting £457 owed to a company called Shred-it.

Wonder what documents were shredded. :wink:

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Originally Posted by coldingham hibs

After reading about the CVA agreed for Dunfermline Athletic, I cannot help thinking that a very similar scenario is about to happen at the wongadome,

Creditors received a big fat zero despite debts of around £10 million. Preferential creditors receiving about £70K & only football debts to be paid £150K.

Pretty disgusting that the the pictures in the paper show Mr Leishman & his counter part celebrating with raised scarfs after shafting all those innocent creditors.

I'm not sure what the situation is with East End Park but if would appear that Pars Utd have obtained the ground (which must have been work a few bob to developers) for virtually nowt (unless there is some sort of retal agreement that I haven't heard about).

It is my guess that Hearts will get the ground & rights for less that £4 million & creditors will get Sweet FA.

The SFA will extend a transfer embargo until December and when that is lifted the Yams will sign a load of players, probably on higher wages than we currently pay in a bid to stay up.

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i take it you've not been following the Hearts case then, which is very different in many ways?

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Originally Posted by PapillonVert

An interesting £457 owed to a company called Shred-it.

Wonder what documents were shredded. :wink:

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That would be quite funny, get a company to shred all the evidence of financial mis-management then bump them for the bill :greengrin

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Originally Posted by CropleyWasGod

I did wonder why it didn't appear on the Hearts website.

However, they are a bit naive if they thought that no-one would pick it up. Or, perhaps, they were relying on the MSM to do their usual non-job on stuff that is actually in the public domain.

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There you go again! :wink:

They were shirley in serious error if they thought, after all that went on last year with the the the huns, that MSM's doziness would be enough to keep sensitive info under wraps.

Probably naive of me to think that a £240/hr average wage should bring with it more nous.

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Originally Posted by PapillonVert

sorry, Bajillions, but for financial illiterates like myself, can you explain this a bit more?

Will Masssone's bid be funded 100% by club? Edit: Via loan which is landed on the club? So, he takes it over, realises the assets and pockets the proceeds and, bang, into admin. we go again?

For FoH you say they have to pay back all the money. To whom? Aren't the pledges the equivalent of gifts? I am not seeing why they would legally be obliged to pay that back if it has been freely and voluntarily handed over with no strings attached.

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I'm no financial expert but what I understand of the foh bid Ann Budge and others are putting up the capital to buy the club, they are to be repaid from the pledges. I would imagine Massones backers will want something similar.

I hope, given that Dunfermline have burned £10 million, and Hearts one way or another set to burn another £X million, not to mention Rangers, that the SPFL finally get their act together to ensure ALL clubs are run in an honest and responsible fashion. :rules:

Unbelievable. I am going to start a Football club - Scam Utd FC, borrow 10 million, blow it on a good time, do a runner, and then say it was all for the fans... :idea::crazy:

I don't understand all this doing things by the book and leaving themselves open to being sued? I thought Hearts could be fined, transfer embaro, censored?? Or have their membership removed? Surely if the later is an option for going into admin then it's legaly covered?? Get rid of the cheating ****s!!

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Originally Posted by Jack

I'm no financial expert but what I understand of the foh bid Ann Budge and others are putting up the capital to buy the club, they are to be repaid from the pledges. I would imagine Massones backers will want something similar.

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Aah, bisto! I didn't know FoH had AB putting up the capital. Thought it was all coming from the pledges. That bid looks more la-la-land and wobbly by the minute. Surely not a viable business plan - unless they think they can continue the Jambo Way of ignoring all bills?

A sort of footballing "trou normand". Or Roman banquet.

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Originally Posted by nribs

I don't understand all this doing things by the book and leaving themselves open to being sued? I thought Hearts could be fined, transfer embaro, censored?? Or have their membership removed? Surely if the later is an option for going into admin then it's legaly covered?? Get rid of the cheating ****s!!

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Also, where are they going to get the money to sue?

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Originally Posted by lapsedhibee

There you go again! :wink:

They were shirley in serious error if they thought, after all that went on last year with the the the huns, that MSM's doziness would be enough to keep sensitive info under wraps.

Probably naive of me to think that a £240/hr average wage should bring with it more nous.

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It wasn't under wraps, though. It was out there, for anyone to see.

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Originally Posted by PapillonVert

Also, where are they going to get the money to sue?

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It would be the liquidators who would sue. Along the lines of RFC's liquidators suing Collyer Bristow.

Thanks for the update Bajillions, appreciate some decent info. Sounds pretty sensible.
:aok:

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Originally Posted by CropleyWasGod

I did wonder why it didn't appear on the Hearts website.

However, they are a bit naive if they thought that no-one would pick it up. Or, perhaps, they were relying on the MSM to do their usual non-job on stuff that is actually in the public domain.

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Your posting of the debtors list was undoubtedly one of the most brilliant exposes made on this website EVER, IMO :-)

I have no doubt BDO, and anyone else associated with hahahearts, would have rather never seen it again after it was filed at Companies Hoose.

While they will have made contingency plans for it going public I bet they never thought they'd have to use them. I'd have loved to have been in the room when they found out the news broke.

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Originally Posted by Hibs7

They also have 500,000 odd footballing debts that have to be paid out of that 900,000 plus the administrators fees which at present are £ 180,000 so not a lot left if they are burning £300,000 a month ..in fact if my calculations are correct they are on their bare arse !!

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I'd guess that the SFA will want the football debts paid if and when when they come out of administration so it won't affect the £900,000 directly. I fully agree that they are on their bare arse.

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Originally Posted by PapillonVert

Aah, bisto! I didn't know FoH had AB putting up the capital. Thought it was all coming from the pledges. That bid looks more la-la-land and wobbly by the minute. Surely not a viable business plan - unless they think they can continue the Jambo Way of ignoring all bills?

A sort of footballing "trou normand". Or Roman banquet.

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At the very beginning of FoH coming out as a contender, when they offered to buy the club for paying off the tax bill and get Hearts for £500k they stated that the funds would come from a loan which had to be repaid. As they have not collected any money yet and only appear to have £48,000 I would assume the same will happen here as they don't have any funds to bridge the gap between £48k and £x million to buy the club. This means their playing budget is non existent. Almost makes you want them to survive. But hell no- die and die soon.

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Originally Posted by CropleyWasGod

It wasn't under wraps, though. It was out there, for anyone to see.

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"But Mr Dent, the plans have been available in the local planning office for the last nine months."

"Oh yes, well as soon as I heard I went straight round to see them, yesterday afternoon. You hadn't exactly gone out of your way to call attention to them, had you? I mean, like actually telling anybody or anything."

"But the plans were on display ..."

"On display? I eventually had to go down to the cellar to find them."

"That's the display department."

"With a flashlight."

"Ah, well the lights had probably gone."

"So had the stairs."

"But look, you found the notice didn't you?"

"Yes," said Arthur, "yes I did. It was on display in the bottom of a locked filing cabinet stuck in a disused lavatory with a sign on the door saying 'Beware of the Leopard'."

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Originally Posted by nribs

I don't understand all this doing things by the book and leaving themselves open to being sued? I thought Hearts could be fined, transfer embaro, censored?? Or have their membership removed? Surely if the later is an option for going into admin then it's legaly covered?? Get rid of the cheating ****s!!

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Originally Posted by PapillonVert

Also, where are they going to get the money to sue?

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We went over this a few pages back. Long story short, membership termination isn't an available punishment for going into administration.

Hearts have more than enough money now to mount a legal challenge, the money they have to see them into october could be repurposed on a court battle if they aren't going to be playing football as a result of the SPFL booting them out. This would inevitably result in Hearts winning the court case and costing the SPFL millions, which would have a direct impact on every team in the league.

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Originally Posted by CropleyWasGod

It wasn't under wraps, though. It was out there, for anyone to see.

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Only if they bothered looking though. MSM have a history of not bothering. Thanks for finding it. Can we all get signed photos are you are fast becoming our hero? (At least until kick off on Sunday)

Almost seems like their only option is liquidation. If they fo somehow manage to squirm out of administration, it'll be by alot of crooked actions by crooked people.

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Originally Posted by CropleyWasGod

It would be the liquidators who would sue. Along the lines of RFC's liquidators suing Collyer Bristow.

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The liquidators represent the creditors. Why would they sue and use up the creditors' money?

It would be up to rump HMFC to sue and they don't have a bean.

Don't think the Collyer Bristow case was the same issue. They were sued for negligent advice IIRC.

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Originally Posted by PapillonVert

The liquidators represent the creditors. Why would they sue and use up the creditors' money?

It would be up to rump HMFC to sue and they don't have a bean.

Don't think the Collyer Bristow case was the same issue. They were sued for negligent advice IIRC.

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They would make a decision on whether it was in the interests of the creditors to sue (that's the bit that would be like the Rangers case. BDO obviously thought it was worth it.) If, as Bajillions set out a few pages ago, the liquidators saw a case for loss of income, then they would be quite entitled to use some of the money available to them.

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Originally Posted by keekaboo

"But Mr Dent, the plans have been available in the local planning office for the last nine months."

"Oh yes, well as soon as I heard I went straight round to see them, yesterday afternoon. You hadn't exactly gone out of your way to call attention to them, had you? I mean, like actually telling anybody or anything."

"But the plans were on display ..."

"On display? I eventually had to go down to the cellar to find them."

"That's the display department."

"With a flashlight."

"Ah, well the lights had probably gone."

"So had the stairs."

"But look, you found the notice didn't you?"

"Yes," said Arthur, "yes I did. It was on display in the bottom of a locked filing cabinet stuck in a disused lavatory with a sign on the door saying 'Beware of the Leopard'."

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Thanks for the fish. :greengrin

http://www.heraldscotland.com/sport/...gh.1375355187?

Locke saying the've been punished enough. It never rains but it showers, eh Gary? Never mind, there's maybe a glimmer of golden sunlight out there for you somewhere. Maybe Division 1 of the EoS League for 2014-15 if you can get a ground to play in somewhere?

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Originally Posted by PapillonVert

The liquidators represent the creditors. Why would they sue and use up the creditors' money?

It would be up to rump HMFC to sue and they don't have a bean.

Don't think the Collyer Bristow case was the same issue. They were sued for negligent advice IIRC.

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They do, Hearts have cash in the bank. It makes sense for the liquidator to sue the SPFL. If it costs them, say, £200k to bring the court case and they win £5m then it will be worth it because this would mean more money for the creditors, it would also mean a likely overturning of the decision meaning a greater return on the Football club part of the liquidation.

"Don't get into a fight with a man who has nothing to lose"


To clarify for CropleyWasGod. BDO weren't trying to hide the creditors list, I just got the impression they didn't expect it to become common knowledge so quickly. I guess they hoped football fans wouldn't have the gumption to check Companies House. Clearly Mr Jackson doesn't frequent Hibs.net :wink:

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Originally Posted by CyberSauzee

http://www.heraldscotland.com/sport/...gh.1375355187?

Locke saying the've been punished enough. It never rains but it showers, eh Gary? Never mind, there's maybe a glimmer of golden sunlight out there for you somewhere. Maybe Division 1 of the EoS League for 2014-15 if you can get a ground to play in somewhere?

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Ha ha ha - 2 glorious summer's in a row

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Originally Posted by Baader

That list is shameful (businesses they have used and completely disregarded including charities) and hilarious in parts - one individual is owed £41!!!

Will be an absolute disgrace if they get out of this without squaring off the many they conned along the way while still signing players...

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they claim that the McCrae's battalion debt has been paid, any proof of that?

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Originally Posted by Speedway

I notice Belouis Some is attempting a comeback with a re-worked version of their 1985 classic - Imagination

Golden Gary was asked to manage, both hands behind his back
Thought he was desperate, lack of job offers saw to that
Only you can try to see what I'm really like
He said, only you can understand the way I've been pished on tonight
He blamed excesses on the Lithuanian dream
So seldom witnessed, never-er seen
Hah - hah - hah - hah - hah...

Liquidation - could make a laughing stock of you
Liquidation - could make me love you too
Liquidation - is all I want from you-ou

They lost their virtue before they could write
They lost their last clue when they went and signed N'goo
You'll have to guide me, to fund these impossible share schemes
You make me steal from charities, unstealable things
He blamed excesses on the Lithuanian dream
So seldom witnessed, never-er seen
Hah - hah - hah - hah - hah...

Liquidation - could make a laughing stock of you
Liquidation - could make me love you too
Liquidation - is all I want from you-ou

And - he blamed excesses on the Lithuanian dream
So seldom witnessed, never-er seen
Hah - hah - hah - hah - hah...

Liquidation - could make a laughing stock of you
Liquidation - could make me love you too
Liquidation - is all I want from you-ou

Liquidation
Liquidation
Liquidation
Liquidation

Liquidation
Liquidation
Liquidation
Liquidation
Liquidation
Liquidation
Liquidation
Liquidation

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Excellent. Not sure I'd like to see the video though...

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Originally Posted by CyberSauzee

http://www.heraldscotland.com/sport/...gh.1375355187?

Locke saying the've been punished enough. It never rains but it showers, eh Gary? Never mind, there's maybe a glimmer of golden sunlight out there for you somewhere. Maybe Division 1 of the EoS League for 2014-15 if you can get a ground to play in somewhere?

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This kind of sucking up to the media really is an insult to all those they owe money to, what a shameless shambles of a club.

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Originally Posted by CyberSauzee

http://www.heraldscotland.com/sport/...gh.1375355187?

Locke saying the've been punished enough. It never rains but it showers, eh Gary? Never mind, there's maybe a glimmer of golden sunlight out there for you somewhere. Maybe Division 1 of the EoS League for 2014-15 if you can get a ground to play in somewhere?

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Sure I read somewhere he prefers golden showers to golden sunlight.

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Originally Posted by HIBERNIAN-0762

they claim that the McCrae's battalion debt has been paid, any proof of that?

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Doesn't matter if members of the public step up to make a payment now. Good on them if they do.
The damage to Hearts reputation is done. They are the club who trousered the poppy money.

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Originally Posted by HIBERNIAN-0762

they claim that the McCrae's battalion debt has been paid, any proof of that?

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If it has been paid, it wasn't by homfc. And that's to their eternal embarassment.

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Originally Posted by Bajillions

They do, Hearts have cash in the bank. It makes sense for the liquidator to sue the SPFL. If it costs them, say, £200k to bring the court case and they win £5m then it will be worth it because this would mean more money for the creditors, it would also mean a likely overturning of the decision meaning a greater return on the Football club part of the liquidation.

"Don't get into a fight with a man who has nothing to lose"


To clarify for CropleyWasGod. BDO weren't trying to hide the creditors list, I just got the impression they didn't expect it to become common knowledge so quickly. I guess they hoped football fans wouldn't have the gumption to check Companies House. Clearly Mr Jackson doesn't frequent Hibs.net :wink:

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I know you accountancy types are not always computer literate but you can put an electronic 'watch' on any company registered at Companies House...no brainer really. ;-)

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Originally Posted by CyberSauzee

http://www.heraldscotland.com/sport/...gh.1375355187?

Locke saying the've been punished enough. It never rains but it showers, eh Gary? Never mind, there's maybe a glimmer of golden sunlight out there for you somewhere. Maybe Division 1 of the EoS League for 2014-15 if you can get a ground to play in somewhere?

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Aww boo hoo poor little us, we are being victimised, everyone out to get us, poor wee us . . . .


Aye ****ing right, these arrogant, deluded morons have given it the big un' for years whilst they have been cheating, screwing so many people and organisations including charities and small business out of a hell of a lot of money so that they could splash ridiculous amounts of cash on players to get ahead. They lapped up the cheated success they bought now they have to deal with the consequences! It was always gonna end this way, everyone could see that the club was heading for a major crash as it was clearly being run by crooks and liars but no hearts fans continued to skip merrily along in Vlad fantasy land and therefore never stopped and realised where their club was heading. These ***** deserve EVERYTHING they get and more. Horrible, scabby, disgusting, moral-less, shameless laughing stock of a club!

Unsure if already posted, list of creditors now on Scotsman site.
http://www.scotsman.com/sport/footba...full-1-3024802

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Originally Posted by NumberSeven

Aww boo hoo poor little us, we are being victimised, everyone out to get us, poor wee us . . . .


Aye ****ing right, these arrogant, deluded morons have given it the big un' for years whilst they have been cheating, screwing so many people and organisations including charities and small business out of a hell of a lot of money so that they could splash ridiculous amounts of cash on players to get ahead. They lapped up the cheated success they bought now they have to deal with the consequences! It was always gonna end this way, everyone could see that the club was heading for a major crash as it was clearly being run by crooks and liars but no hearts fans continued to skip merrily along in Vlad fantasy land and therefore never stopped and realised where their club was heading. These ***** deserve EVERYTHING they get and more. Horrible, scabby, disgusting, moral-less, shameless laughing stock of a club!

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And...relax :greengrin
Great post!

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Originally Posted by kdhibees1

Unsure if already posted, list of creditors now on Scotsman site.
http://www.scotsman.com/sport/footba...full-1-3024802

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Yesterday's news, courtesy of CWG

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Originally Posted by Ozyhibby

Doesn't matter if members of the public step up to make a payment now. Good on them if they do.
The damage to Hearts reputation is done. They are the club who trousered the poppy money.

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Heart of Midlothian FC - the club with no shame

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Originally Posted by clerriehibs

Yesterday's news, courtesy of CWG

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Copied and pasted. Joke newspaper!!

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Originally Posted by NumberSeven

Heart of Midlothian FC - the club with no shame

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Soon to be the club with no hame.

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Originally Posted by CropleyWasGod

What I meant was that, because the company is in administration, no action can be taken on pre-administration debt. It would only be legal to cut off the supply if the company failed to pay its current debt.



See above

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I Understand now still seems unfair

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Originally Posted by CropleyisGod

I know you accountancy types are not always computer literate but you can put an electronic 'watch' on any company registered at Companies House...no brainer really. ;-)

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Um... sorry to disillusion you, but that's exactly how i got the BDO report. I do it all the time, for a variety of reasons.

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Originally Posted by Bajillions

They do, Hearts have cash in the bank. It makes sense for the liquidator to sue the SPFL. If it costs them, say, £200k to bring the court case and they win £5m then it will be worth it because this would mean more money for the creditors, it would also mean a likely overturning of the decision meaning a greater return on the Football club part of the liquidation.

"Don't get into a fight with a man who has nothing to lose"


To clarify for CropleyWasGod. BDO weren't trying to hide the creditors list, I just got the impression they didn't expect it to become common knowledge so quickly. I guess they hoped football fans wouldn't have the gumption to check Companies House. Clearly Mr Jackson doesn't frequent Hibs.net :wink:

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OK, but I was thinking of the time after a possible liquidation had taken place.

Was always told that there is no such thing as a sure thing in litigation - if there was no cases would ever get to court! :wink:

Whilst nothing finnancial can be done to the ex and current directors of HoM, perhaps the said directors should be taken down the grassmarket and horse-whipped. Lying, cheating ****.

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Originally Posted by southsider

Whilst nothing finnancial can be done to the ex and current directors of HoM, perhaps the said directors should be taken down the grassmarket and horse-whipped. Lying, cheating ****.

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Yes it can.

If they can be shown to have taken on additional debt after the date that company was shown to be insolvent, they can be held personally liable for those debts.

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Originally Posted by CropleyWasGod

Yes it can.

If they can be shown to have taken on additional debt after the date that company was shown to be insolvent, they can be held personally liable for those debts.

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I would imagine this is quite difficult to prove?

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Originally Posted by PapillonVert

Soon to be the club with no hame.

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Must be a song in that for a week on Sunday

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Originally Posted by Coco Bryce

I would imagine this is quite difficult to prove?

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Yeah, and it would depend on a liquidator having sufficient funds to take the necessary action.

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Originally Posted by CropleyWasGod

Um... sorry to disillusion you, but that's exactly how i got the BDO report. I do it all the time, for a variety of reasons.

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That was my guess :-)

Cropleys ken stuff :-))

Any ideas what time the hearing is, and when we are likely to find out the outcome? :greengrin

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Originally Posted by CropleyWasGod

Yes it can.

If they can be shown to have taken on additional debt after the date that company was shown to be insolvent, they can be held personally liable for those debts.

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Originally Posted by CropleyisGod

That was my guess :-)

Cropleys ken stuff :-))

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I didn't know that ;-)

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Originally Posted by Hibee87

Any ideas what time the hearing is, and when we are likely to find out the outcome? :greengrin

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130 pm

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Originally Posted by Hibee87

Any ideas what time the hearing is, and when we are likely to find out the outcome? :greengrin

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Right about Now, The funk soul brother

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Originally Posted by GodWasCropley

Right about Now, The funk soul brother

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Check it out now ? :thumbsup:

How much was rangers fined last year anyway?

Same rules apply surely?

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Originally Posted by Bostonhibby

Ah right, I see, Sidney does strike me as the persistent sort so maybe he could hack through the cable with his pen? Might take a while but its better than doing nothing like most of the major or establishment creditors seem to have done, often with our money. Direct action!

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I Am swithing my direct action from written letters to E Mails from now on i plan to trawl through the list and contact as many of the victims as possible and try to rally them into a direct action group nothing like stirring up bother for the yams.

And yes i am a bit like a dog with a bone once i get a mission to undertake.

Sidney :hnet:
:not worth

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Originally Posted by sidneyhibbie

I Am swithing my direct action from written letters to E Mails from now on i plan to trawl through the list and contact as many of the victims as possible and try to rally them into a direct action group nothing like stirring up bother for the yams.

And yes i am a bit like a dog with a bone once i get a mission to undertake.

Sidney :hnet:
:not worth

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A yam with a bone. no ?

what does swithing mean :confused:







i need to know

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Originally Posted by sidneyhibbie

I Am swithing my direct action from written letters to E Mails from now on i plan to trawl through the list and contact as many of the victims as possible and try to rally them into a direct action group nothing like stirring up bother for the yams.

And yes i am a bit like a dog with a bone once i get a mission to undertake.

Sidney :hnet:
:not worth

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:top marks

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Originally Posted by clerriehibs

Fair to say that, with the HMRC debt near £2m, no instalment of the payment plan was ever paid, despite assurances to the contrary at the time?

SPFL should take note. These gimps were in no way self-sufficient.

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If that is indeed the case, then it's a stick-on certainty that the share monies worked their way back to Vlad.

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Originally Posted by cabbageandribs1875

what does swithing mean :confused:







i need to know

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http://www.urbandictionary.com/define.php?term=swithing

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Originally Posted by CropleyWasGod

130 pm

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It's 2pm now and no news so I'm guessing yuo mean this is when the meeting starts not when we will hear the results.

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Originally Posted by Treadstone

A yam with a bone. no ?

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My mother used to make soup using a Yam bone or was it a ham bone?

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Originally Posted by keekaboo

"But Mr Dent, the plans have been available in the local planning office for the last nine months."

"Oh yes, well as soon as I heard I went straight round to see them, yesterday afternoon. You hadn't exactly gone out of your way to call attention to them, had you? I mean, like actually telling anybody or anything."

"But the plans were on display ..."

"On display? I eventually had to go down to the cellar to find them."

"That's the display department."

"With a flashlight."

"Ah, well the lights had probably gone."

"So had the stairs."

"But look, you found the notice didn't you?"

"Yes," said Arthur, "yes I did. It was on display in the bottom of a locked filing cabinet stuck in a disused lavatory with a sign on the door saying 'Beware of the Leopard'."

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:faf: and :agree: Preciselymundo.

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Originally Posted by CropleyWasGod

It wasn't under wraps, though. It was out there, for anyone to see.

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Way too modest.

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Originally Posted by Jack

Your posting of the debtors list was undoubtedly one of the most brilliant exposes made on this website EVER, IMO :-)

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:agree:

On broke back they reckon 3pm for results of hearing ?
GGTTH

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Originally Posted by longshanksed

how much was rangers fined last year anyway?

Same rules apply surely?

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£50k

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Originally Posted by RoxburghHibs

It's 2pm now and no news so I'm guessing yuo mean this is when the meeting starts not when we will hear the results.

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Sorry, that's when it started.

1.31 pm is when they adjourn it :greengrin

Just catching up with this thread after losing my shirt at Goodwood yesterday. Its ok though I'm going to tell the Tote & the bookies I'm now in admin & they'll get hee haw!!
A few random thoughts.
1. Can I join in the general acclaim for CWG & disgust for Yams, a sorry, sordid outfit.
2. I take no pleasure in being proved correct that HMRC would be shafted by Yams. I'm intrigued to note however that the whole debt (£1.9mm) is shown as due to the Debt Mgt & Insolvency service. This could mean, either Yams lied re making the 1st debt payment, or payment was very small or possibly that subsequent unpaid PAYE/VAT was added to the total. Either way it's shameful & I don't think HMRC have covered themselves in glory either.
3. I continue to be concerned re Bryan Jackson's role in the admin process. In yesterday's DR he basically parrotted Foulkes' assertion a day earlier that PBS had limited value, that any developer would face hostility & there were lots of pitfalls in the way of selling PBS. Absolute nonsense as posters on here have affirmed & his job is to represent the creditors not Yams!
4. If Yams really want to have any standing as a community club they should use all donations already received or divert F of H funds etc to repay small local creditors. I know there are legal requirements re favouring of creditors & F of H haven't collected yet but if they use a small % of the imagination they showed in lying to everyone over this whole shameful episode, then they'll find a way to do it.
I'm not holding my breath though.

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Originally Posted by sidneyhibbie

I Am swithing my direct action from written letters to E Mails from now on i plan to trawl through the list and contact as many of the victims as possible and try to rally them into a direct action group nothing like stirring up bother for the yams.

And yes i am a bit like a dog with a bone once i get a mission to undertake.

Sidney :hnet:
:not worth

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Gaun yersel Sidders

Yooda man :thumbsup:

434 "GUESTS" make that 444 :greengrin

Yamyakbackers know where to come for real information :agree:

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Originally Posted by poolman

434 "GUESTS" make that 444 :greengrin

Yamyakbackers know where to come for real information :agree:

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Even some of the jambos are getting sick of the drivel over on keekback. Couple of yams I know used to post over there but even they said that some of the stuff posted over there was cringeworthy.

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Originally Posted by Jim44

My mother used to make soup using a Yam bone or was it a ham bone?

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Can't be a yam bone, as they have no bones, spineless. plankton..............

That £1.9m tax bill is never getting paid regardless and that is poor.

Why are 'football' debts considered more important than the tax debts? Surely this is an easy amendment to make to the rules, all football debts and all tax debts must be paid regardless.

As for the other creditors. I have genuine sympathy for them all, BUT.. do business in a submarine, prepare to get sunk...

Whatever sanctions the SPFL can make today, I hope they go about changing some rules fast, so they can hammer clubs 'legally' for financial irresponsibility.

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Originally Posted by Billy Whizz

Must be a song in that for a week on Sunday

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Pay for the poppies, you never paid for the poppies, pay for the poppies.

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Originally Posted by rcarter1

That £1.9m tax bill is never getting paid regardless and that is poor.

Why are 'football' debts considered more important than the tax debts? Surely this is an easy amendment to make to the rules, all football debts and all tax debts must be paid regardless.

As for the other creditors. I have genuine sympathy for them all, BUT.. do business in a submarine, prepare to get sunk...

Whatever sanctions the SPFL can make today, I hope they go about changing some rules fast, so they can hammer clubs 'legally' for financial irresponsibility.

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Again, it's the SFA :wink:

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Originally Posted by rcarter1

That £1.9m tax bill is never getting paid regardless and that is poor.

Why are 'football' debts considered more important than the tax debts? Surely this is an easy amendment to make to the rules, all football debts and all tax debts must be paid regardless.

As for the other creditors. I have genuine sympathy for them all, BUT.. do business in a submarine, prepare to get sunk...

Whatever sanctions the SPFL can make today, I hope they go about changing some rules fast, so they can hammer clubs 'legally' for financial irresponsibility.

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It's the SFA today.
Now that this tax bill has not been and won't be paid, that should mean another charge from the SPFL? The rules say that all tax payments must be up to date?

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Originally Posted by Ozyhibby

It's the SFA today.
Now that this tax bill has not been and won't be paid, that should mean another charge from the SPFL? The rules say that all tax payments must be up to date?

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True but I'm unsure if this meeting covers pre or post admin.

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Originally Posted by NumberSeven

Even some of the jambos are getting sick of the drivel over on keekback. Couple of yams I know used to post over there but even they said that some of the stuff posted over there was cringeworthy.

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:agree:

Even I haven't posted there for ages.

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Originally Posted by CropleyWasGod

Again, it's the SFA :wink:

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Ah right, Im still confused about who is what and why they do whatever, but hey ho.:greengrin

any word from the hearing yet?

Attachment 10762

Did anyone else notice on the BDO document yesterday (page 13) it had Hearts down as being in existence from 1905, with the date of incorporation given as 29th April 1905.

Yet they still claim to be founded in 1874. :confused:


https://pbs.twimg.com/media/BQk8dpgCAAAu1gv.png:large

Quote:

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Originally Posted by sidneyhibbie

I Am swithing my direct action from written letters to E Mails from now on i plan to trawl through the list and contact as many of the victims as possible and try to rally them into a direct action group nothing like stirring up bother for the yams.

And yes i am a bit like a dog with a bone once i get a mission to undertake.

Sidney :hnet:
:not worth

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Good for you Sid, swith away, you know it makes sense.:wink:

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Originally Posted by jonty

Attachment 10762

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Need to swap their names around!

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Originally Posted by Hibbyradge

http://www.urbandictionary.com/define.php?term=swithing

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.net is indeed a place of learning ta :clapper:



(though often also for laughs or to be kinky) kinky sid

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Originally Posted by YehButNoBut

Did anyone else notice on the BDO document yesterday (page 13) it had Hearts down as being in existence from 1905, with the date of incorporation given as 29th April 1905.

Yet they still claim to be founded in 1874. :confused:


https://pbs.twimg.com/media/BQk8dpgCAAAu1gv.png:large

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That has just been emailed round the office to all yam sympathisers. History repeats itself 108 years on. There's something to remind them about

I just printed whole document for my bedtime reading ( bit of a change there! ). My wife says I'm sad, I replied I'm actually very happy!!
One interesting creditor is Il Ciocco, stiffed for £11,468. This is hotel/resort in Barga, Italy where Yams went for pre season training in 2012. It's full of Scots/Italians, an amazing place & lovely people who will be embarrassed by this ( well Yams won't be ). The really pertinent point is that this debt is a year old, as I'm sure many others on this list are yet Yams were self-sufficient a month or two ago! I really hope SFA/SPFL grow some!

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Originally Posted by Ozyhibby

It's the SFA today.
Now that this tax bill has not been and won't be paid, that should mean another charge from the SPFL? The rules say that all tax payments must be up to date?

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Simplest route would be to bring in performance bonds.

Owners/directors of clubs putting up personal guarantees, depending on turn-over of club would go a long way to solving these problems.

The thought of loosing their house/investments would ensure careful thought went into club budgets.

have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet

@PeterAdamSmith: Hearts punished with January embargo by the SFA for going into administration. More on http://t.co/bezkFc6Hxn soon & @STVNews at Six.

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Originally Posted by Ozyhibby

@PeterAdamSmith: Hearts punished with January embargo by the SFA for going into administration. More on http://t.co/bezkFc6Hxn soon & @STVNews at Six.

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Bottled it.

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Originally Posted by 7062

Bottled it.

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What more were you expecting? Some were worried they'd get off with a fine or actually have the embargo lifted!

They'll be dead by then :cb

So they'll be able to sign players in January?

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Originally Posted by 7062

Bottled it.

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I'm happy enough. It won't make a blind bit of difference to their survival and it will upset fans of the old and new Rangers. What's not to like.

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Originally Posted by Dashing Bob S

have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet have they been punished yet

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Blink and you'll have missed it.

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Originally Posted by Heisenberg

So they'll be able to sign players in January?

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No the embargo covers the January transfer window the earliest they will be able to sign anyone is next summer.

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Originally Posted by Ozyhibby

@PeterAdamSmith: Hearts punished with January embargo by the SFA for going into administration. More on http://t.co/bezkFc6Hxn soon & @STVNews at Six.

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What does that mean? Up to January? Throgh January? What?

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Originally Posted by Heisenberg

So they'll be able to sign players in January?

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Just not register them till Feb 1st if they do a Sevco :rolleyes:

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Originally Posted by Heisenberg

So they'll be able to sign players in January?

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Yup.

Lets be honest, that's still a sore one. They have a poor squad add injury and suspensions and they are in trouble. They could be well adrift by Jan anyway and even when they can sign players in Jan they may not have the money.

Put it this way hearts days of spending big are gone and they will be toiling to pull in anyone remotely good.

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Originally Posted by Hot Shot Hamish

No the embargo covers the January transfer window the earliest they will be able to sign anyone is next summer.

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Basically confirming their relegation... If they survive!

No fine imposed then

Peter A Smith ‏@PeterAdamSmith 9s No financial penalty for Hearts, but registration embargo is extended to January 31, 2014. More on http://stv.tv/news