Everyone is forgetting one important fact. Anne Budge is one of their own so in effect they'll owe their debts to themselves. Can't possibly go wrong!
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Everyone is forgetting one important fact. Anne Budge is one of their own so in effect they'll owe their debts to themselves. Can't possibly go wrong!
Lucky barstewards. With that unassailable financial base they'll soon outgrow us, we'll no longer be their rivals and no team in the world will ever beat them 5-0!Quote:
Originally Posted by Hiberlin
European Champions within 5 years with a couple of World Cup stars plying their trade in front of the £51M super stand.Quote:
Originally Posted by lapsedhibee
What can possibly go wrong with ambition like that?
I think it's at least possible that the biddies forgive at least some of the interest due / debt. After all we assume they are Jambos and not immune to emotional reasons to lend their support.Quote:
Originally Posted by green day
However I cannot see a long term future at Tynecastle for them. Budge or whoever might intend to cash out when they sell the site. And therefore with massive council subsidy, how can they afford to build a stadium of similar capacity anywhere in Edinburgh?
Quote:
Originally Posted by green day
That's one scenario. But this is a club that has proven itself to be without morals or shame who in desparation accepted an unknown foreign control freak take over everything. They've gone completely bust with £Millions of unpaid debts yet STILL have their home and top league status - along with all success they've enjoyed over the last few years.
What's REALLY changed that suggests they would not be prepared to do that again in a heartbeat? The Yams should be seen as druggies who sold their souls to the devil for short term fix, have OD'd and now trying to get clean. That might work for a while but a few months/years of utter crap and hardship will have them dreaming of glory and good old days.
My problem with this whole sorry affair is there is NOTHING to deter them from doing this all again ? The benefits completely outweigh the cost. There are plenty of Vlad-types around football who might see an ailing capital club, with a amoral fan-base, as a fun toy.
you do mean without a council subsidy?
:agree: all true.although I know quite a few that follow them and for the most part, they are decent guys, working and paying their way in society. the trouble I've got ,when we all have a few beers in us is that NONE of them regret anything that has happened. all worth it, in their opinion, and this was all said weeks ago well before any mention of a CVA settlement. for that, I hope it goes pear shaped for themQuote:
Originally Posted by Onion
I doubt they are expected to repay it in 5 years.Quote:
Originally Posted by green day
£5 million is a manageable debt for Hearts. Especially if they have a bit of extra income from the diddies.
The problem for them is the cost of a new stand (£5m?) and the upkeep of the other three poorly built stands. There is also the likelyhood of 1st Div football for at least 1 year and putting out a team they can afford (ie. Mince) for the first time in 30 years. This will have an effect on their income.
The debt itself though is serviceable provided they change their behaviour.
Bugger, just wrote all that and realised I'm agreeing with you.
They just can't help themselves. Every one of them I know sees the club as an institution that must be saved even at a cost to the public purse. Entitlement junkies every one, even the seemingly normal ones.Quote:
Originally Posted by monktonharp
It may be a long slow burn but that mindset will be their undoingQuote:
Originally Posted by Geo_1875
The spl is better without rangers
Their visiting support is not missed in the stadium or in the surrounding streets
The sport is more competitive and importantly it is finally finally clean and credible
Hearts are just a mini version and that era has passed
Banks will not support that mindset any more and the demise of rangers has been important in allowing financial and sporting institutions to see that there is no significant harm to your bank by shutting down a basket case club of whatever size
I take it you forget to add a smiley at the end of the above?Quote:
Originally Posted by dangermouse
I keep reading that they need to upgrade their stand 'very soon'. Is there a fixed timescale? Substantial upgrading will be required, no doubt, but never any confirmed dates.
Its always going to be a ****hole and it'll suit the championship/div1 to the ground. The danger is it'll need upgrading before getting back into the SPFL should they ever manage it (although Falkirk managed with 3 stands)
Understand , second hand, that the safety certificate is up for renewal early in 2014Quote:
Originally Posted by jonty
Sure someone will confirm that
Thanks
Considering the spawny scrounging flumps are almost at 8000 monthly Direct Debits I just don't buy the absolute rubbish that these are going to 'dry up' for whatever reason?? Fair enough if there was only 2 or 3 thousand diddies but not 8 thousand! No chance.
I'd prefer to focus on the 'frozen UBIG shares' and whether or not these can derail the CVA prospects.
Quote:
Originally Posted by EK_Hibs
Surely given they will be relegated this season it surely depends greatly on results, continuing agreement with wives/ families to fork out hard earned cash , proof that the new owners can " deliver " on a sustainable basis .
I know of three Jambo's , who are not exactly poor, who have said their DD's will run until December 2014 and then they will reconsider based on " value for money "
Makes sense in the circumstances
Then again nothing is written in tablets of stone re the clubs future :greengrin
Don't get me wrong it's certainly possibly that maybe 1 or 2 thousand diddies will cancel after they're repeatedly pumped and relegated this season. But as someone mentioned earlier in the thread they'll have a 'feel good factor' with new owners next season.
If/When Heart decide to replace their crumbling Main Stand, I don't see it costing as little as 5M. IIRC, the Main Stand at ER cost more than that and it was built 13 years ago.Quote:
Originally Posted by Ozyhibby
When you add the additional changes to the ground required by UEFA rules (which will kick in when they start building), it's going to be a bill for 10-15M.
Add that to the Loan to buy the club and it's suddenly a long way from debt free, IF they even get the CVA.
Have the share certificates been issued yet?
For most Jambos, the birth certificates have yet to be issued, so I anticipate the share certificates taking some time.Quote:
Originally Posted by HUTCHYHIBBY
This is one of my favourite posts on all 1000+ pages of this thread - made me chuckle out loud.Quote:
Originally Posted by Dashing Bob S
Thanks
:not worth How right you are , superb.Quote:
Originally Posted by Dashing Bob S
There's an interesting report in today's Sunday Times entitled "Inside Story" where they focus on the collapse of Bankas Snoras and its owners Vladimir Antonov and Raimondas Baranauskas. Both are currently fighting extradition from the UK back to Lithuania where they face charges of fraud to the tune of €500m.
The interesting part is that the Lithuanian authorities froze Antonov's/Snoras assets when they bankrupted the bank - these assets still remain frozen today, some three years down the line.
The similarities between Snoras and Ukio are uncanny. Both banks owned by a Russian crook - both owned basketball clubs - both owned football clubs that entered administration - both on the run from the Lith authorities.
Was he able to sell Portsmouth despite the assets being frozen though?Quote:
Originally Posted by Sergey
If so maybe a precedent was set so won't be as complicated when it comes to selling hertz.
Well I hope you've been over to Broke back and posted a link cos the FOH think all is Barry and with the intervention of Fat Salmond and the gang everything will be unfrozen.Quote:
Originally Posted by Sergey
Three years... That's brilliant just brilliant. No shares no takeover (if that's right)
do i detect a hint of hope?Quote:
Originally Posted by Sergey
booooooo theres always oneQuote:
Originally Posted by bingo70
Portsmouth started as a newco effectively did they not? English clubs don't look at that in the same way as we do apparently :greengrinQuote:
Originally Posted by bingo70
Sorry, think I'm still miserable after yesterday.Quote:
Originally Posted by Gmack7
True though, don't give a monkeys how long that boys assetts are frozen for if he's allowed to sell his football club during that time and surely that's the point here?
Fingers crossed Sergey comes back shortly to put my mind at ease.
That's what I was hoping to hear, thanks.Quote:
Originally Posted by South Sub
Yip if the club can be sold without the frozen shares then they may have a chance however if they can't then big grins all round.Quote:
Originally Posted by bingo70
3 years of admin. ;-)
I've just had a look at the Portsmouth time-line.
Portsmouth went into administration on 23rd November 2011 and the reformed club owned by the Pompey Supporters Trust exited administration on 19th April 2013. That's nigh-on 18 months in administration.
Trevor Birch really should be making the Fuds aware of these times. "Out of Admin by Christmas" - aye, pull another cracker.
Indeed and I'd like to see the look on their faces when they find out their sister's their mother :agree:Quote:
Originally Posted by Dashing Bob S
And in some cases even their father!!Quote:
Originally Posted by Jonnyboy
@BBCBMcLauchlin: Further delay in Hearts parent company Ubig insolvency case being heard in Lithuanain court. Now in for a 10.00 start tomorrow morning.
Quote:
Originally Posted by green glory
Pleasing... Keep them sweating :wink:
Portsmouth are a newco. The new club was allowed to inherit the old club's league position because they satisfied the creditors (effectively as per a CVA) of the old club.Quote:
Originally Posted by bingo70
It's possible Doncaster and Regan might try and pull the same stunt with the Yams if they agree a CVA but can't get the shares. I think the wailing of the Hun hordes would stop any move like that in its tracks though.
Scanning back on a few articles on the Yams demise and this caught my attention.
http://www.lithuaniatribune.com/3481...ase-201334819/
Second last para.
" ......based on information provided by the Central Bank about suspicious transactions concluded in 2005 through to 2012. "
Now are these not the dates when Vlad took over at the PBS to when funding ceased ?
Quote:
Originally Posted by greenginger
2+2 :pray:
Quote:
Originally Posted by Sergey
Any idea how much the administrators fees were in the Pompey case Sergey ?
According to this report it was £2.2mQuote:
Originally Posted by Corstorphine Hibby
http://www.accountancyage.com/aa/new...gbp22m-in-fees
Edit: Having read the report, there is still another couple of months to add to the £2.2m as the deal wasn't concluded until April of this year - the amount quoted is up to January
I like this bitQuote:
Originally Posted by TQM
Pretty much sums up last week’s backslapping yam-fest as much ado about nothing.Quote:
Originally Posted by BBC
Event – BDO given permission to look at possible CVA process.
Allisbarry – Hearts saved. CVA agreed. Big Team. 5 -1.
Foundation of Hearts chairman Ian Murray MP is hopeful a "massive" week for the embattled Tynecastle club will begin today with parent company Ubig finally being declared bankrupt, a pivotal step as they work towards a successful takeover of the club presently in administration.
Full story: The Scotsman - Unlucky Mr Murray week not starting quite as well as you hoped. :greengrin
Aye but he goes on to say that this time next week they'll have a CVA and be in the semi final of the cupQuote:
Originally Posted by PatHead
#allisbarry
Yes, and trying to agree a CVA will be a bit like trying to sort out adoption papers for that crowd of squabbling mutants.Quote:
Originally Posted by Jonnyboy
I dont understand why they are pinning everything on tomorrow decision? What exactly do they expect tomorrow other than best case for then UBIG have a liquidator appointed.
If the shares are frozen and UBIG as a whole are under proceeds of crime act constraints then the liquidator will have conditions to work within. Is it not reasonable to assume this info wont be available until weeks if not months down the line?
To build yourself up to a decision being made, and then it is postponed, is frustrating. And I am sure it is worse for the fans, who are desperate for information. The fear is that it drags on any longer than this week.”
Is he not a fan ? :jamboclow
He's more than a fan. He's a fanny.Quote:
Originally Posted by hibees 7062
I suppose a good outcome for them would be if UBIG's admin turned out to be the same as UKIO's? Not sure if that's possible though and it wouldn't change anything regarding the frozen shares.Quote:
Originally Posted by Col2
http://www.lrytas.lt/verslas/rinkos-...nko-dvynys.htm
Article in today's Lith. press about Vlad's money laundering set-up using his Bosnian Bank and Ukio Bankas. ( sorry about the Google translate )
One of the " customers " was Osama Bin Laden, the Heart and Soul of Edinburgh F C right enough !
Footnote. I should have added that the Bosnian Bank was set up by UBIG. That might be something for the attention of the Administrator before he gets round to the shares of a silly wee football club in Edinburgh.
It would be too harsh to sing songs/chant chants about The Famous which included references to terrorism as well as kiddiefiddling and poppythieving.Quote:
Originally Posted by greenginger
Where hmfcia and morality are concerned, we should not be surprised if/when jambos find a warped justification that allows them to continue saying "it was all worth it"
They are worthless
In responding to another thread I revisited the list of shame, aka Yams creditors. I noticed several football agents ( owed tens of thousands ). A fairly cursory check revealed Yams are due money to agents representing current first team players; Wilson, Tapping, McHattie, Carrick & Nicholson as well as ex player Gorgeous Kevin Kyle! Once again we have the skewed morality, these agents almost certainly paricipated in signing talks with Yams for these players. They haven't been paid but these players can represent Yams! Worse is the £12,000 due to Stenhousemuir. As the bloodied turd strip wearers ( ack to DBS ) haven't played each other for 13 years I assume this debt relates to a component of Templeton's transfer fee, possibly due after x number of appearances. So while Templeton was scoring against us & bringing in about £700,000, Yams hadnt paid Stenny £12k. Now I have a vague memory that Yams U-19s may have used Stenny as a base. Yams do have previous with Arbroath & Andy Webster however so I prefer my original scenario!
The team with no shame!
Here's hoping the judge is too busy again today to bother about this
I would guess the £ 12,000 due to Stenny would be a sell on % after the Yams sold the player to Sevco F C.
Heart and Soul F C shafting small, part-time club. Is'nt Stenny where Ogilvie hangs out now so he can keep his SFA blazer ?
Quote:
Originally Posted by dangermouse
Any news if this is actually going ahead today?
I doubt anything will happen today, or tomorrow, other than a continuation of the slow descent into oblivion.Quote:
Originally Posted by keekaboo
Quote:
Originally Posted by Dashing Bob S
I'm right in saying that the Lithuanian courts are shut until after Christmas, no!....:fibber:
They will be sweating buckets, I'm sure of that........
:wink:Quote:
Originally Posted by lapsedhibee
I can only assume the appointment has been made. We've heard every time its been postponed, yet we haven't heard Anything today. In addition I'm sure it was said that once an appointment was made we wouldn't hear for 30 days, so It looks like we might hear something in a month or so.
@BBCBMcLauchlin: Further delay in Hearts parent company Ubig insolvency case being heard in Lithuanain court. Now in for a 10.00 start tomorrow [Tuesday] morning.
@BBCBMcLauchlin: BBC Scotland has learned that UAB Insolvensa have been appointed as bankruptcy administrators for Hearts parent company UBIG.#bbcsportscot
If Ukio Bankas's admin is Valnetas UAB, then this could be bad news for the maroon buffoons I would have thought.
More:
@BBCBMcLauchlin: A final decision on the appeals over the liquidation of UBIG has yet to be made public by the courts in Lithuania.#BBCSPORTSCOT
Cant be bothered looking back through the pages of this thead but was that not the administrator appointed months ago when it first came to light?Quote:
Originally Posted by green glory
Certainly remember chuckling at the 'imaginative' name at the time!!
Quote:
Originally Posted by greenginger
Makes sense though is a very small % if thats case. Templeton's fee was reported as £700,000 so the £12k due would be less than 2%. The only certainty is the Yams cheated again.
A hostile receiver! great news! Jambogeddon back on.
Maybe they paid some, and that's all that's unpaid. Or maybe it was a flat sum agreed?Quote:
Originally Posted by brog
It's a football debt, though, so Stenny have a good chance of getting it back.
Looks like it:Quote:
Originally Posted by Wee Scottie Dug
http://sport.stv.tv/football/clubs/h...-in-lithuania/
So what does this mean in terms of the frozen shares now?
Are they now unfrozen? Anyone know?
nope. I know virtually nowt about how this works, but they wont reveal the new admins(for ubig) for 30 days, sure I read that somewhere and our better informed chaps confirmed? also, is there not also a "cooling off" period with respect to a cva?Quote:
Originally Posted by EK_Hibs
BBC have already claimed today the UBIG Administrators are UAB Insolvensa....as initially intended in July.Quote:
Originally Posted by monktonharp
never trust the bbc as being gospel:wink: 30 day thing does apply though. possibly a period that is reqd, before they can defrost? cooling off? stop sweating before the storm arrives?:greengrinQuote:
Originally Posted by EK_Hibs
I think there is 30 days to appeal the appointment, so 30 days before the admin. is definitely known.
Yep, I had similar thoughts. Will agents count as a football debt? If yes could HW uni also claim as a footy debt? Update, I tried a quick reconciliation & it looks like agents are in there but HW are not.Quote:
Originally Posted by CropleyWasGod
BBCBMcLauchlin @BBCBMcLauchlin 6m
Thursday 31st Oct is when Hearts should find out future of parent company UBIG. Bankruptcy administrator has been appointed#bbcsportscot
Haven't they already appealed it?Quote:
Originally Posted by greenginger
They don't have a future. Wonder what he's referring to here?Quote:
Originally Posted by rosscarnie
Shares are still frozen, appointing an administrator doesn't change that as far as I know? My understanding is the administrator will be there to figure out what's happened at UBIG and how much it's all worth etc but that until such times as the lith authorities are satisfied nothing dodgy has been happening then nothing will be getting sold on or liquidated.
It's entirely possible, theoretically, that the Admin gets in and discovers UBIG have been up to all sort of illegal shenanigans and that Hearts played a vital part in all of this. Or it could be that nothing untoward happened at all and Hearts shares will be given to BDO in exchange for a bag of jelly babies and half a roll of sellotape. We all know which is the most likely outcome.
Pity, would be a real difficult one for HWU if they actually had to go to the trouble of finally doing something about collecting money from the yam.Quote:
Originally Posted by brog
Quote:
Originally Posted by Bajillions
....and discovers UBIG have been up to all shorts of illegal shenanigans ! I think that's a certainty. :greengrin
Have a read at what UBIG were up to in Bosnia.
http://www.lrytas.lt/verslas/rinkos-...nko-dvynys.htm
Money laundering on an industrial scale, Drug money, terrorists etc, bribing whole governments etc.
Actually, Bajillions, I don't know at all which is the likely outcome. It seems to me that ProudCheatsRUs are making a stonking job of distancing themselves from all the bad stuff whilst simultaneously claiming that all the good things happened irrespective of the financial doping. And the MSM are lapping it up.Quote:
Originally Posted by Bajillions
How will they prove that 'Hearts' as opposed to individuals like Romanov played a vital role?
Quote:
Originally Posted by PapillonVert
I think it's the directors of the club that will carry the can. :wink: I'm lost to how they could pin anything on "them"..
Quote:
Originally Posted by LeithenHibby
There's a thousand page thread on Kickback slagging Rangers F C ( Deceased ) for all the financial crimes that went on in Govan.
Never once do they blame directors and not the Club.
Well, I would suspect, that being accountants, they would look at the transfer of monies over the years between Hearts and the other companies in the UBIG group. Hearts didn't get the money to pay those players from thin air, it came from the other companies in the group (and in some cases went from Hearts to them). So where did the UBIG money that funded Hearts come from? How much did board members of the club know?Quote:
Originally Posted by PapillonVert
This long-running fiasco may well be about to take the very nasty turning that some were long anticipating.
Whatever happens, it won't be good for them.
I found this old footie mag from Sep 1986 and just wanted to share!..... :wink:
Attachment 11219
Stenny are not due any money from Hearts. They took their case to the league and were paid in full.I was at the game tonight with their board and asked the question.Quote:
Originally Posted by CropleyWasGod
Serious question- Who paid the bill though?Quote:
Originally Posted by inglisavhibs
I know STF, through an intermediary, settled some of the charity debts - could he have paid football debts as well? :dunno:Quote:
Originally Posted by PatHead
I didn't ask but they were paid a good while ago. I think when Stenny went to the league, Hearts had a choice of paying up or the money being taken off their TV payments.Quote:
Originally Posted by PatHead
Hearts also convinced us lot in the media that they weren't going in to Admin and that the share issue was genuine. Whether it was 'Hearts' or just the bad man that run them, if the company was used at any part of any nefarious activity then the lithuanian authorities will keep the shares frozen until the investigation has been completed. The best way to think about why all the assets are frozen is it's like a crime scene, nobody touches anything and nothing leaves the room until the Police have gone over it with a fine tooth comb. The assets are all potential evidence and it's very unlikely the lith authorities will be rushed because some ****my wee robbing club in Scotland is in administration and would quite like to be sold to the fans.Quote:
Originally Posted by PapillonVert
Hearts fans think that Vladimir Romanov is like the lith equivalent of Fred Goodwin, he done some bad stuff but he'll never face justice.
In reality he's their equivalent of Bernie Madoff.
you were surely never convinced ... ?Quote:
Originally Posted by Bajillions
Easily convinced me thinks.Quote:
Originally Posted by clerriehibs
Just hearing that they have agreed a CVA.
Forthwith, their new designation will be: Charity Violating A-r-s-e-holes.
For any football fan they go hand in hand, but I'm wondering how the authorities would pin anything on "Them"Quote:
Originally Posted by greenginger
The SPFL/SFL, yes, they will have their wee rule book and I'm sure will use it when the time is right...
Newco will go ballistic if not :wink:
Still so much to be said and done......
Are you serious with the CVA or is it a play on words? If so, who is the source?Quote:
Originally Posted by Dashing Bob S
Nope and I doubt the majority were either. Nobody wants to be held accountable for their downfall and the ones who cover hearts are on the gravy train. Ironically it's a bit like the Jimmy Saville saga, it seems a lot of people knew but everyone was too scared of what would happen. Same thing happened with Rangers.Quote:
Originally Posted by clerriehibs
Ha ha...in their dreams!Quote:
Originally Posted by PatHead
Quote:
Originally Posted by PatHead
Quality ...... :greengrinQuote:
Originally Posted by Dashing Bob S
Nothing is happening until their season is over! :greengrin
http://www.bbc.co.uk/sport/0/football/24704436
Hook line and sinker there.......buggerQuote:
Originally Posted by Dashing Bob S
See Gary Naysmith is staying at East Fife til the end of the season.
Season must finish on 31/01/14.
Ha ha. Well respected doon Mefful way is Gary.Quote:
Originally Posted by 3pm
I can't believe there's still a yam gravy train. Time for those reporters to dig (not very deep) for the news and stop being gorgie press officers.Quote:
Originally Posted by Bajillions
Nonsense, CVA has been agreed and Naysmith along with Kyle, zaliouskas and rudolf skacel are riding in on a mechanical bull to lead them to saftey. Its all done deals so weve been told :na na:Quote:
Originally Posted by 3pm
Hearts are having a sale on all merchandise in their store for the next 5 days. Need for money getting stronger by the day. Bet you they have spent our gate money all ready. Talk about a hand to mouth existence.
Thought this had been sorted??????!
http://www.bbc.co.uk/sport/0/football/24704436