You can understand why they would want wee robbo back, he was such a success last time with much better playersQuote:
Originally Posted by JollyGreenGiant
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You can understand why they would want wee robbo back, he was such a success last time with much better playersQuote:
Originally Posted by JollyGreenGiant
Absolute shambles of a football club
I listened to radio scotland during the week, and someone was going on about how hertz were a great scottish institution, i'd not heard that used since the great days of sevco.
I cant wait for the day they join the other great institution down the plug hole, D3 might not even be an option for them? :yw:
Unsurprising, they are now true mini zombies that see the future as just too hard to worry about. I am trying not to lower myself to be bothered about them either but it is hard. The memories of the late Wallace Mercer mean I cannot do that.Quote:
Originally Posted by Col2
If true, goodness only knows what Mr Blatter thought being hosted in an asbestos ridden main stand today.
From the Balmoral to Tynecastle, I am sure the surroundings were underwhelming.
Unless, of course, he was maybe there to highlight a club that symbolises everything that is wrong with football corporate governance.
He failed to attend - had a more pressing engagement apparently :agree:Quote:
Originally Posted by Hibeesforever
On the approach to Tynecastle he ordered his driver to keep going as he saw the state of the stadium he was meant to be sitting in...last seen getting out of his limo at Krispy Kremes Doughnuts at Hermiston Gate...left with a 10 pound variety box after queueing for 3 hours surrounded by loads of overweight chavs..Quote:
Originally Posted by truehibernian
Hang on, are Hearts in some kind of financial difficulty? You'd think that would have come up before.
Na Mate "All Is Barry" :thumbsup:Quote:
Originally Posted by nonshinyfinish
Well that's a big relief.Quote:
Originally Posted by cocopops1875
Remember their old adage 'we're different - we owe the debt to ourselves'?Quote:
Originally Posted by nonshinyfinish
Not heard that one trumpeted for a while, eh!
So the scales are falling from their eyes?Quote:
Originally Posted by Sergey
Shame they're stuck with the webbed fingers...
They still don't think they have any debt; just no money.Quote:
Originally Posted by Sergey
Apparently the Final tickets are going on public sale...
Will there be masses forming upon Gorgie ?! And will it stop me getting to work !?
No. The answer is probably no.
http://www.heartsfc.co.uk/articles/2...241384_3095066
He's an old Hearts song for the nostalgic, one you just don't hear so much these days.
http://www.youtube.com/watch?v=of9U3aGUyvU&noredirect=1
See below about seizure of Romamov's assets through bankruptcy proceedings including Scottish property. Lithuanian insurance rescue fund has a $500 million hole to fill to make depositors whole. They borrowed on international markets to fund whole and will try and recoup money by any means necessary. UB lends to UBIG who lend to Hearts. Not a difficult structure to uncover. Effectively Hearts seen as one of Romanov's assets which will be seized by Lithuanian state.
Lithuanian Siauliu Bankas Agrees to Assume Insolvent Ukio Assets
Siauliu Bankas AB (SAB1L), the Lithuanian lender part-owned by the European Bank for Reconstruction and Development, will assume the insured deposits of insolvent Ukio Bankas AB (UKB1L) in a deal that will almost double its size.
Siauliu will take over 2.7 billion litai ($1 billion) of Ukio deposits and assets of the same value, according to a contract signed last night with Ukio’s administrator and the state deposit-insurance fund, the Siauliai, Lithuania-based lender said in an e-mailed statement. The EBRD will grant Siauliu a 20 million-euro ($26 million) 10-year subordinated loan to strengthen its capital base for the expansion, it said.
Siauliu, which had assets of 2.9 billion litai on Dec. 31, will overtake Danske Bank A/S to become Lithuania’s fifth- largest bank by assets, after local units of Nordic lenders SEB AB, Swedbank AB, DNB ASA and Nordea Bank AB. The transaction will reduce payouts from the Baltic nation’s deposit insurer to 800 million litai, which the government plans to lend the fund.
“The achieved agreement will result in new and bigger possibilities of growth for our bank’s clientele, staff and shareholders, while the entire banking system in Lithuania will become stronger and even more competitive,” Siauliu Chairman Algirdas Butkus said in the statement.
Renewing Services
The contract, which the Lithuanian government and central bank supported, obliges Siauliu “to renew banking services for the customers of Ukio Bankas in the shortest time possible,” the Bank of Lithuania said in a separate e-mailed statement.
The Bank of Lithuania suspended Ukio’s activities Feb. 12 and appointed an administrator, saying the lender was insolvent after risky lending to related companies. Just over a year after the collapse of Snoras Bankas AB, the government was eager to avoid another bankruptcy that would test the state deposit- insurance fund.
The agreement “has ensured stability in the sector,” Sylvia Gansser-Potts, the EBRD director for financial institutions, said in an e-mailed statement.
The preliminary value of the assets transferred to Siauliu, determined by auditor KPMG Baltic, may be revised in three months after a more detailed assessment, in which case the liabilities of the parties to the contract will also be revised, the central bank said.
Bankruptcy proceedings are planned to recover remaining assets of Ukio, including property in Scotland and elsewhere, for creditors, among whom the deposit-insurance fund will be the largest, according to the Bank of Lithuania.
The EBRD owns 19.6 percent of Siauliu, which after Ukio’s collapse is Lithuania’s only publicly traded bank. Siauliu shares rose 10 percent to 0.267 euro in Vilnius on Feb. 13, when the lender announced plans to negotiate for Ukio’s assets, and closed at that same level on Feb. 22.
To contact the reporter on this story: Bryan Bradley in Vilnius at [email protected]
To contact the editors responsible for this story: Dick Schumacher at [email protected]; Balazs Penz at [email protected]
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Will that include tynecastle even though hearts don't owe ukios anything?Quote:
Originally Posted by desantos0773
This s the clearest indication yet of where things are at. It cant be any clearer, this is the end game!Quote:
Originally Posted by bingo70
There is reasonable chance they will disapear off the face of the earth.
Hearts are going bust and we're know!
Mon the Hibees!
Can they enforce the sale of tynie then?Quote:
Originally Posted by spike220
My worry has always been someone hearts minded buys it and then just waits till they can buy the.club at a more reasonable price, considering the stadiums not fit for purpose though and they'd probably need to.move in a few years anyway I'm maybe worrying over nothing
You can guarantee Craigieboy is a 40 year old virgin who still stays with his ma.Quote:
Originally Posted by Www1875hfc
90% of his posts are about us.
I don't even know why I look over there. It's pathetic.
Ok, you're not allowed to make any banners. Lol
It is a good article,especially this lineQuote:
Originally Posted by spike220
Bankruptcy proceedings are planned to recover remaining assets of Ukio, including property in Scotland and elsewhere, for creditors, among whom the deposit-insurance fund will be the largest, according to the Bank of Lithuania.
HMFC - GIRFUY:na na:
Undercover celtc fan? :)Quote:
Originally Posted by Niffy
I must say it all looks rather splendid.
I suspect that, like any loan secured against property, if you default on repayments then the property will be seized ... so it's pretty much "a given" that Tynecastle will be up for sale sometime soon.Quote:
Originally Posted by bingo70
Quote:
Originally Posted by 1two
You're waiting for yer ma to make yer tea?:aok::greengrin
Quote:
Originally Posted by BouncerRoss
Lovin the avatar Bouncer :tee hee:
If this is the case, the question is who will bid for the stadium? If I were a buyer for Tesco or another such organisation, I would consider carefully the level of animosity that would go with such a purchase. It will be very interesting in a slightly morbid way, to watch the developments unravel. Will Hearts emerge with a Tom Farmer?Quote:
Originally Posted by StevieC
In the inevitable event of administration, a supermarket or house builder could buy the land as a cheap investment and then rent it to Sevco Yams for a few years until they either buy it back at a premium (because the land value has risen) or alternatively find a new stadium elsewhere which would free up the land for a supermarket or housing.
Of course, having to find the annual rent on top of all their other costs would make it even harder for Sevco Yams to escape Division Three so this wouldn't be a complete disaster.