Of course, "properties in Scotland" doesn't just mean Hearts. It also includes those buildings in St Andrews Sq that he bought near the top of the market.Quote:
Originally Posted by Kato
http://www.bbc.co.uk/news/uk-scotlan...iness-16490988
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Of course, "properties in Scotland" doesn't just mean Hearts. It also includes those buildings in St Andrews Sq that he bought near the top of the market.Quote:
Originally Posted by Kato
http://www.bbc.co.uk/news/uk-scotlan...iness-16490988
Nothing against them and want to see this rivalry continue - albeit on a level playing field.Quote:
Originally Posted by Desperate Dan
:fibber::fibber::fibber::fibber::fibber::fibber::f ibber::fibber:
FINISH 'EM OFF!!!
Is it not far more likely to be hearts though?Quote:
Originally Posted by Part/Time Supporter
That property will eventually be worth something again once the property market picks up again but hearts are always going to be *****?
Both.Quote:
Originally Posted by bingo70
I'm sure that the yaks will be included in the bad stuff. Anyone seeking to buy them will have to find:Quote:
Originally Posted by Part/Time Supporter
- more cash than any property developer would be willing to pay (£3 million say?)
- a few million in working capital to keep it going (£2 million say?)
- £5 million for a new stand.
So, all they need to do is find someone with £10 million to ***** away with no hope of ever getting a return on that money. Best of luck with that.
Why only that much ..will they not look for some of there other money that they are out of pocketQuote:
Originally Posted by hibs0666
They might look for it but, in this situation, they will take as much as they can get.Quote:
Originally Posted by livi hibs 1875
Sales like this become a buyer's market.
If its that easy why dont we run up debts of 70/80 million (equity swap) .then . No mention of admin or bankruptsy. 10 million is peanuts fot how much these smelly ****s have cheated over the last 10 years .my opion ofcourse .hate those unwashed trampsQuote:
Originally Posted by CropleyWasGod
Cue FoH raising their bid to 750k :greengrinQuote:
Originally Posted by CropleyWasGod
Two points:-Quote:
Originally Posted by livi hibs 1875
1. you will be hard pushed to find any lender who would allow a business to go that far. UKIO/UBIG were a special case, as they had a business model which required that investment, and had the funds to support it. It failed.
2. it doesn't matter whether someone pays £3m or £20m for Tynie. The company (HMFC) is insolvent, and any money raised will go to its creditors.
I understand those both points and agree with them .but they must also loose there poxy history and become a newco aswell then . That is what i was meaning possibly never said it correctlyQuote:
Originally Posted by CropleyWasGod
Would they not also be buying a liquidated 3rd division team?Quote:
Originally Posted by hibs0666
For them to avoid liquidation would they not also need to pay HMRC in full and at least some of the UBIG debt?
This lol thanks :thumbsup:Quote:
Originally Posted by StevieC
Not sure if this is at all possible, but a Hun told me he thought it was an option. Rangers buy hearts, debt and all, sell tynecastle change the name to rangers and be back in the spl. Obviously if they bought hearts debt and all, they would need to pay the debt back, but after selling off all of hearts assets the debt would be manageable for rangers and they would be back in the spl!
Again not sure if this could happen but would be interesting
No, because they would need to get approval from the SFA to change the Hearts SFA membership to "Rangers". It was hard enough for them to get the "Rangers" SFA membership transferred from the dying company to Sevco.Quote:
Originally Posted by HFCDaveA
Where are RFC going to get £24m to pay off the debt, plus the cost of the stadium?Quote:
Originally Posted by HFCDaveA
And what assets do Hearts have?
I heard something similar once but it involved a man called Rumplestiltskin and spinning thread into gold.Quote:
Originally Posted by HFCDaveA
Has the rule been changed since the Airdrie United/Clydebank affair?Quote:
Originally Posted by Part/Time Supporter
The dominoes begin to topple...
Bankruptcy to be declared on Ukio Bankas bad assets
So I'm maybe getting ahead of myself here but could hearts be made bankrupt tomorrow for example and then worry about the sale of tynecastle etc at a later date?Quote:
Originally Posted by hibs0666
Is there a possibility hearts won't even see out the season or will this all take time to come to a head properly?
Hearts don't have any direct link to ukio. They owe the money to ubig, if ubig are liquidated that's when the problems start for heartsQuote:
Originally Posted by bingo70
Don't be daft. Hearts are too big to fail. They won't be affected by the failure of Vlad's bank as its UBIG who owns Hearts although Hearts are a stand alone self-sufficient company these days.Quote:
Originally Posted by bingo70
Yes I know that, but could ubig call it a day with hearts tomorrow and then sell the assets later?Quote:
Originally Posted by lord bunberry
:agree: They have all the cakes they can eat.Quote:
Originally Posted by Kato
In theory, yes. However, in reality it would likely take longer. UnfortunatelyQuote:
Originally Posted by bingo70
I guess it will take a wee while to wash through the system. UBIG will be right in there amongst the bad bits, and will now be starved of any further capital. If UBIG is burning cash then the shutters would come down on UBIG very quickly if it cannot find any other sources of capital.Quote:
Originally Posted by bingo70
Since the security over tiny is held separately from UBIG I cannot see how UBIG can now sell the club easily and on the cheap, and so the yaks fate now goes hand-in-hand with that of UBIG.
Thing is, the geezer that runs the yaks is also a director of UBIG. If the yaks really wanted to know the fate of their club then the bloke that can provide the answers is sitting at tiny, except that those poor sods are terrified to ask the question.
I'm just thinking there's probably someone sat in an office in Lithuania either at ukio or ubig that must be noticing there's a 2 bob football club in Edinburgh that owes them a fortune, has assets but losing them a fortune every day they're open.Quote:
Originally Posted by SmashinGlass
If it was me looking at it the first thing I'd say is let's take any cash from them, close them down so they don't lose any more money then look to sell the assets.
Suppose I just don't understand why they'd keep them open for a day longer when they're only going ti lose more money?
Hope they are brighter than this guy on the Brokeback thread 'Bankruptcy':Quote:
Originally Posted by bingo70
jambosdad
Quote:
There was always something funny about the sudden desperate call for funds to see us through the season.
http://www.scotsman.com/business/ban...bank-1-2807982
The above is yesterdays headline "Hearts assets will transfer to second Lithuanian bank" although there is nothing in the copy to say this will happen. Smells like waffle.
And it looks like a story stuck away in the corner of the page... :wink:Quote:
Originally Posted by Kato
Not exactly an "Extra, Extra Read All About It" moment!.. :greengrin