Now there's the fancy dress for the liquidation ball (following the relegation party) sorted out!Quote:
Originally Posted by CropleyWasGod
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Now there's the fancy dress for the liquidation ball (following the relegation party) sorted out!Quote:
Originally Posted by CropleyWasGod
So in effect #allisdaffyQuote:
Originally Posted by Dashing Bob S
Attachment 12046
So should we refer to your source as "Deep Throat" or just plain BJ?Quote:
Originally Posted by Bajillions
Very good - reminds me of the EEN a few years back. Every time a company announced redundancies they seemed to go with the headline "Jobs Blow" - it always made me do a double take.Quote:
Originally Posted by Eyrie
Prior to Sunday that one would have went right over my head. :greengrinQuote:
Originally Posted by brog
A few of the muppets have told me over the past 18 months that they 'made a profit' in 2012 and that we were the real cheats in the cup final lol. Obviously it's the party line over on nowayback. I know they are complete morons so I shouldn't be surprised, but really?!? With the wages they were still paying out to Skacel, Driver, Zal, Webster, Black et al, a 'profit' would be utterly impossible. Are they honestly that stupid?!(No need to answer).
What was the whole story that year? Did they release proper accounts? How much debt forgiveness was there etc etc?? Ta
Go back to page #1 of this thread and read through it - what we've been doing rather than asking repetitive questions.Quote:
Originally Posted by NadeAteMyLunch!
Their ridiculous financial comparisons fall to fantasy when they look at the sh&teh^le stadium that surrounds them and watch the team they have in front of them. Add to that next year's glamour games and it will be all pish and vinegar over on shartquack.comQuote:
Originally Posted by NadeAteMyLunch!
Thanks for the condescending response. I have pretty much been reading since page 1 and have asked very few questions, due to having a pretty decent understanding of it all. Contributed towards it a fair few times as well, for example revealing the late HMRC payment back in June, 24 hours before it was front and back page news in the press.Quote:
Originally Posted by Sergey
I asked a simple, SPECIFIC question about their accounts from 2012. Namely, how much was their debt forgiveness and how much would they have lost that year without it? They go on about us losing £900,000 that season, I'd like to know how much they would have lost without their dodgy ways. I'll head back to page 1 now though, incase there was maybe a day back in November 2012 when I missed such info...
Quote:
Originally Posted by NadeAteMyLunch!
Yam accounts for 2012 show a bottom line loss of £ 1.648 million.
It would have been a lot worse but they put in a item in their income column of £ 2.914 million for player compensation for players F C Kaunas were meant to have agreed to sign but did'nt because they went bust. UBIG wrote off the F C Kaunas debt.
Staff costs that year were £ 8.214 million on a turnover of £ 8.682 million.
Thanks gg
From season 2005/06 (the start of the Romanov regime when they were already £20m in debt) to 2011/12, HoMFC spent £53.1m more than they brought in. That was on wages and 'normal' operating expenses, and in addition they spent £7.9m on player transfer fees and £1.4m on plans for their new stand. All of that was other peoples' money and none of it will be paid back.Quote:
Originally Posted by NadeAteMyLunch!
In the same period Hibs brought in £9.9m more than they spent on trading activities and spent it on improving their asset base to set the club up for the future.
Maintaining debt is standard business practice - it's when you fail to pay that debt that it becomes cheating.
Thanks Cav
One for our financial experts. The Yams last financial year ended on 30 Jun 13 at which time they were in admin. Are BDO required to produce annual accounts for Season 12/13 and if so by when are they due? I seem to remember that the SFA (?) apply a financial penalty for late submission:wink:
No. The legal requirements for annual accounts are trumped by the legal requirements of the administration. In other words, the submissions that BDO make to the Court are sufficient.Quote:
Originally Posted by Eric
Interesting point, though, about the SFA's licensing requirements. Don't think we've had this precise situation before. The accounts are normally required as part of the Annual Return and, if the AR is late, the sanctions on the Club can include.....
Removing the club's licence to compete in UEFA competitions.
:greengrin
Thanks Crops. So is an Annual Return with accounts to the SFA still required? If so would it be BDO's responsibility to provide it.Quote:
Originally Posted by CropleyWasGod
An Annual Return would definitely be required, I think by 31 March. I am not sure, however, whether the rules actually provide for this particular set of circumstances, and whether the lack of accounts would be a problem. I am guessing that BDO's reports would be enough to satisfy them, though.Quote:
Originally Posted by Eric
truer words have not been said.:agree:Quote:
Originally Posted by jacomoseven
The mystery of the missing shares, ie the Dec 2012 lot, not the Lith ones, has finally been resolved! Apparently Alan (Nipper) Lawrence was the postie in charge of the deliveries! :wink:
certainly not been nipped in the bud then. strange that those shares were redirected via Airdrie though:wink:Quote:
Originally Posted by brog
That would make a mockery of sporting integrity - imagine if the famous were unable to defend their Champions league title next season.Quote:
Originally Posted by CropleyWasGod
Perhaps I mean "champignons" league, given how they've kept themselves in the dark and been fed a lot of merde.
Britain will have many more Manchester City style false dawns, until we let big clubs like Hearts off the leash and restore their right to shaft the taxpayer, local businesses and charities in the name of Euro dominance.Quote:
Originally Posted by portycabbage
IF and only IF this woman Budge takes over how will the 400,000 react to a period of austerity after the spend, spend spend, ( cheat, cheat, cheat) of Messrs Mercer, Robinson and Romanov? If she keeps the purse tight shut and they grace the nether regions Scottish football for a few years how many diddies will they be left with? Mrs Budge has two choices a) shore it up from her own resources or b) sell it. Who buys it? A good guy? I think not. Her pockets are not deep enough to satisfy our mutant neighbours' ambitions.
It is not going to get that far. TICK TOCK
To be fair dont think it will be much of a problem,someone already said that if they had 10000 diddies paying £50 a month they will be well on the way to recovery,and any team that has the backing of 400000 fans thats a measly £1.25 ea / month,now if any fan is not willing to part with just over 4 pence /day to save there beloved club what kind of fannies are they.Quote:
Originally Posted by Famous Fiver
we all know the answer to the question of them paying for anything when they can swindle and cheat ,why pay for it
Massive IF in there.Quote:
Originally Posted by gorgie greens
Given that they've currently got 7800 diddies paying on average £16 a month, they're very, very, very far from that level of investment.
Anne Budge is not planning to shore up Hearts and fund them from her own resources.Quote:
Originally Posted by Famous Fiver
She is only looking to deliver them to the FoH in 5 years or so and get her ££ back.
It's not a donation she's making nor any sort of chuck money at Hearts plan. They will have to be self sufficient.
I can remember a self sufficient Hearts from when I was at Primary school. Almost makes me hope they survive. Almost.Quote:
Originally Posted by AndyM_1875
Is that the Yo Yo team from the 70's that i remember? Oh such pleasure!!!:faf:Quote:
Originally Posted by Ozyhibby
There's a couple of interesting comments in today's DR. Firstly they say they have 350 new subscribers. This added to the 7,800 takes them within "touching distance" of their 8,000 target! Yamamathics!
Buried away however it states "BDO are no closer to finding out when the shares will be available. The creditors meeting in Lithuania must be scheduled at 30 days notice & that has yet to be pencilled in!" So, 20 March at the earliest then, at least 9 months in admin & next season getting ever closer. Plenty fun still to come!
Just read that brog!, here's the link for those that don't want to get their hands grubby.Quote:
Originally Posted by brog
http://www.dailyrecord.co.uk/sport/f...droves-3164974
EDIT - Just realised 30 days notice would actually make it the 22nd March
Another over-the-shoulder portrait... and she does like purple doesn't she?Quote:
Originally Posted by CyberSauzee
This is close to genius - she gets to run the club but spend other people's money doing it.Quote:
She will run the club for at least two years but has made it clear that plan will only succeed if FoH provide working capital.
It's how the last 3 Chairmen did it.Quote:
Originally Posted by jacomoseven
Is that not what that genius Mad Vlad did ?Quote:
Originally Posted by jacomoseven
No wait he spent other people's money that he owed to himself
The ides of March (15th) come round first. That date has previous for knives coming out :greengrinQuote:
Originally Posted by brog
Didn't she make her fortune with a partner? Who's to say it was budgie who was the brains of the partnership.Quote:
Originally Posted by jacomoseven
Roman[ov] is never far away.Quote:
Originally Posted by ACLeith
Budge bought out her partners share when she retired. When the company was sold to Sopra, Budge was only the majority shareholder as she'd borrowed from the market to fund her buy-out.Quote:
Originally Posted by Waxy
It also says the shares are to be transferred at the meeting. Oh no they're not.
I don't think it's in any doubt that she is an astute businesswoman.Quote:
Originally Posted by Waxy
Shamelessly lifting these from the Bajillions and Sergey obsession thread over there.
Quote:
Originally Posted by Tazio
Quote:
Originally Posted by Pressgang22
Now I'll admit, I've heard nothing to this effect. But I await the imminent news of the shares being unfrozen and Hearts exiting administration.Quote:
Originally Posted by Tazio
According to them, exiting administration is a done deal, a formality. The shares aren't frozen and a legally binding agreement is in place to transfer them. Just a matter of time. So why is Bryan Jackson jetting off the other side of Europe (and billing Hearts for the priviledge) if everything is already sorted?
Or is he over there because in fact everything isn't as fine and dandy as Hearts' fans, the FOH and the Evening News would have us believe? Bryan couldn't possibly be over there because he needs to deal with this in person because getting the shares is still a massive problem, could he?
Or do you send the head honcho to oversee all rubber stamping? Is that how big teams/administration work?
Maybe he has to deliver some bill wads in a brown paper bag under an office table somewhere in Kaunas.:wink:Quote:
Originally Posted by Bajillions
:greengrinQuote:
Originally Posted by ****pile
and our famous posters are Brutes for us
When this meeting takes place???(who knows how long)28days notice required!Quote:
Originally Posted by AltheHibby
If the creditors rubber stamp sale of shares,
then they still have to apply for them to be defrosted and a court date is required(who knows how long)?? Days notice required.If the shares are defrossted there is then a 28day cooling off period.
if all of the above is rubber stamped,that's 56 days as of today plus everyday there is no date set for creditors meeting,plus everyday waiting on a court day.
And at the end of all that,the court might(I think they will)tell them to bolt!! :greengrin
Mr Baj? If he comes back from Lithuania and is no closer to a resolution on the shares and believes that they are unlikely to be resolved in the foreseeable future is he obliged to say? " Well I tried but it just isn't going to happen soon, the company cannot trade throughout the close season without income and I can't put season tickets up for sale as that scuppers the business plan". He then nips to Wickes to get some padlocks on a buy one get one free deal and gets a locksmith in.
Please say yes
Quote:
Originally Posted by Bajillions
I'm sure he's flying cheaply to Lithuania too!! :wink:Quote:
Originally Posted by Bajillions
I wonder if they yam hoards know that he hasn't been dedicating all his time to their sorry plight and saving their precious shares from the freezer. Given that they are such a BIG team they will be mightily peed off! Before Christmas he was in Malta for a court hearing for a few days.
Not such a big team. :greengrin
If he gets told the shares are unlikely to be transferred or unfrozen and he isn't able to find a legitimate way to sell the company as a going concern then the next stage should be liquidation. Administration shouldn't be used as an indefinite lifeline to keep a company afloat if it's inevitable it's not sustainable.Quote:
Originally Posted by PatHead
Cropleywasgod might be able to clarify it better than me if I've gotten it wrong though.
There's very little that Jackson can do to get the Lithuanian courts to release the shares. I think if he's over in Lithuania, he'll be putting pressure on UKIOS/UBIG admins to try and be more aggressive in obtaining those shares.
Hearts fans will see his presence there as 'rubber stamping' the agreed deal, perhaps signing off on paperwork etc and be excited about the Budge era and movement to fan ownership.
We'll all tend see it as more desperate, last-ditch efforts to try and savage an unwinable situation, or at least put himself in the position where he can say "I gave it my best shot."
Which stance shall be vindicated?
Not much time before we know. This scheduling of the 'creditors meeting' will tell us a lot. No sense in having such a meeting if you don't have the shares...
You would hope the Evening News would be sending Barry over to Lithuania to cover this momentous occasion.
Fixed that for youQuote:
Originally Posted by Ozyhibby
Seemingly, I'm talking to myself if replying to you :crazy:Quote:
Originally Posted by Bajillions
I presume you mean Hearts' creditorsQuote:
Originally Posted by Bajillions
I would suggest a will be a distinct probability.Quote:
Originally Posted by PatHead
Quote:
Originally Posted by Geo_1875
Maybe he's just tired of seeing David Southern's sad puppy face and I am an MP's bloated cherub face, and simply had to get away from Tynecastle for a day or two. Telling them he's off to chat with the Lithuanians is a plausible enough reason.Quote:
Originally Posted by GreenLake
I'd have to say if that was the case you at least deserve some credit. Both our accounts have been on the go since 2007 and to keep them apart and running for over 6 years just to wind up some fans is impressive. I believe that's what they refer to as a "long con", something Hearts fans aren't known for spotting.Quote:
Originally Posted by Sergey
They're all walking contradictions over there. Making up stories about posters sending pictures of themselves. When it's their posters and players that are criminally convicted of such crimes.
I enjoyed last week when they were slagging us off for banning a poster for "not towing the party line". He then signed up over there, had a wee pop at .net and within a few days they had banned him as well.
Quote:
Originally Posted by Bajillions
:rotflmao:Quote:
Originally Posted by Sergey
#AllIsBajillions
#AllIsSergey
It reeks of desperation if Jackson is indeed in Lithuania, as BDO have three offices in the country and surely one of the minions based there could do whatever needs doing.Quote:
Originally Posted by Dashing Bob S
Still, at £550 per hour I can maybe see his reasoning.
Pretty much spot-on.Quote:
Originally Posted by Bajillions
To use his own words, he would have nowhere else to go.
Get a room, you one.Quote:
Originally Posted by Bajillions
"I accept them clinging onto the hope that Hearts will fail, however misguided.. But the post administration finances are clear
Hibs = income - "mortgage/debt" repayment - interest
Hearts = bigger income - oops no debt repayments + tax free fan subsidies
Result = Hearts far wealthier than hibs (and every other non old firm club) "
TALK ABOUT DELUSION
Sorry if posted earlier.
GGTTH
But when does it become inevitable? he asked impatiently.Quote:
Originally Posted by CropleyWasGod
Don't forgetQuote:
Originally Posted by CyberSauzee
#AllisEskbank
It's all about timing.Quote:
Originally Posted by PatHead
When the collective Yam is on that edge, breathlessly anticipating the ecstasy of release........
THAT'S when you kick him in the nuts.
CWG (or anyone!), following on from the reminder earlier today of 30 day notice period to convene the UBIG creditors meeting, if the CVA is agreed will there be a cooling off period? I've seen mention of 28 days, but I'm guessing that is Scots/English law? Are we just guessing on the length of a Lith cooling off period after a CVA?
The reason for asking is I was wondering if they might still be in admin come the start of next season?
This current season and last season (12-13), the second tier kicked off on the second Saturday in August. Next season that would be 9th August. So if we subtract the 30 days as noted to convene the meeting, that would mean the agreement would have to be in place by 10th July. If there is a cooling off period of 28 days, that takes us back to 12th June (WC kicks off). Allowing say a week for 'rubber stamping' the paperwork, that would mean 5th June.
So realistically the Yams have got until the beginning of June at the latest to wipe their slate of charity robbing, else face starting next season on negative points.
I'd be willing to bet that if hearts are still in admin by the start of next season due to these pesky frozen shares, then they will appeal against any further point deductions by claiming that they're only still in admin because of a mere technicality. They'll try to wriggle out of it by saying everything is in place and they're just waiting on a 'rubber stamp'. Of course they'll use their buddies in the media just like they did in January when trying to sign players.Quote:
Originally Posted by CyberSauzee
They will overhaul that points deficit by October while they are building the new super stand/hotel complex.Quote:
Originally Posted by CyberSauzee
I'll see if I can get a definitive answer regards to a cooling-off period.Quote:
Originally Posted by CyberSauzee
Everything that BDO/FoH/Budget are praying for is the fact that the shares will be unfrozen and handed over at the first creditors meeting. Given the complexity of this case with interwoven companies used as shells for money laundering, the geography of said companies; the movement of any assets will also probably have to be ratified by company executives outside of the creditors committee...and then they've the court procedure to get through.
As we saw with the continual delays and postponements to the CVA meeting, things don't move very fast in Lithuania and time isn't something that BDO/FoH/Budget have going in their favour.
Braw.
Fixed that for you.Quote:
Originally Posted by salinehibs
Not bad £2500 for sitting on a plane and prob not in cattle class:-)Quote:
Originally Posted by Sergey
Different mood over on Sicksack right now. They seem to have shot their (I hope just cyber) wads over Sergey/Bajiliions/Hibs.net contentions, and now appear quietly anxious about the process of obtaining the shares. They are talking about everything other than this - a sure sign of squeaky erse syndrome kicking in.
Given the complexity of this case with interwoven companies used as shells by S.H.I.T., the geography of all companies; do we really think LT courts, police and administrators will say "Aye on ye go then!"Quote:
Originally Posted by Sergey
Barry.
:agree:Quote:
Originally Posted by Dashing Bob S
Very quick to point out Bryan Jackson is in Lithuania. Not quick enough to question why he would be needed in Lithuania if everything is a done deal.
Thank you. Looks much better now :wink:Quote:
Originally Posted by Geo_1875
I do not see that working. If they are in Admin at the start of next season then they are in admin and the stated penalties apply.Quote:
Originally Posted by #FromTheCapital
Nice to read that.Quote:
Originally Posted by Dashing Bob S
Quote:
Originally Posted by CropleyWasGod
Apparently he was stopped at customs and had several items confiscated........Quote:
Originally Posted by Bajillions
Attachment 12059
:-)Quote:
Originally Posted by Spike Mandela
Perhaps not but they will almost definitely try it imo. Be interesting to see what cringey stories they come up with if it happens. Filthy beggars.Quote:
Originally Posted by Weststandwanab
Of all your many posts offering expert analysis, CWG, this has to be your finest post to date. :not worthQuote:
Originally Posted by CropleyWasGod
If he's in Lithuania it must be important. Surely some kind announcement will follow soon.Quote:
Originally Posted by Bajillions
#ihaveinmyhandthispieceofpaper
I think that was a different war.Quote:
Originally Posted by Kato
So if BJ is in Lithuania surely this has to be good news for the skittery farts?? He can't be over there for no reason.
....but exactly the same delusion :agree:Quote:
Originally Posted by Weststandwanab
:greengrinQuote:
Originally Posted by Kato
Why's that then? If they're just waiting for the rubber stamp, as they keep telling us, why would he need to go at all?Quote:
Originally Posted by nribs
I don't know I'm just making an assumption? I'm hoping for good news but fearing the worst. I just can't see him being over there to receive bad news?Quote:
Originally Posted by Mikey
I can see him being over there if he's received bad news and needs to do a bit of hands on begging. One things for sure...he hasn't gone to pick up the shares, or he'd be shouting from the roof topsQuote:
Originally Posted by nribs
Is it the new season of Dancing with the stars over there? Toss up between him and fffoulkesQuote:
Originally Posted by nribs
Sent from my brain via Tapatalk
Perhaps some Gorgie gloom early next week...Quote:
Originally Posted by Jack Hackett
Or possibly even as soon as tomorrow...Quote:
Originally Posted by Dashing Bob S
...but next week will do just fine :wink:
They'll be laughing about it soon over on Kickback. They'll see it as all part of life's rich tapestry, that's the kind of guys they are!Quote:
Originally Posted by Sergey
he will be trying to tie down a timeframe for the next phase as they see it ,the handing over of some written agreement saying they can get there hands on the shares as so far they keep telling us they have this but haven't produced any proof .While there he will be trying to see what position is re getting court time as they can't keep talking about this and putting possible date back at some point you would think someone in SPFL would call there bluff and start demanding something more concrete .Although when you see Sevco getting more short term working capital from crooks you have to start wondering how serious the Authorities are about Sporting IntegrityQuote:
Originally Posted by nribs
The SPFL has nothing to do with Hearts at this time which is the way it should be as the SPFL is all the other clubs. As long as Hearts are fulfilling their fixtures there's very little the league body is going to do about it. The SPFL has no right getting involved in the business of Hearts just like they have no business getting involved in what happens at Hibs. They'll just be leaving them to get on with it.Quote:
Originally Posted by Ronniekirk
They maybe don't just give the rubber stamp to anyone in case it falls into the wrong hands? I don't know for sure but when allisbarry first mentioned the formality of said stamp I do wish he had given us a bit more detail about it all. I appreciate it is probably all very complex so maybe laughing boy has had the call to tell him to come and pick up the rubber stamp personally?,Quote:
Originally Posted by Mikey
I doubt he'd be going out there without a brass band send off and the full evening news team if it was good news.
I am thinking it won't be shares in our time.
Kinda like the Royal Family, BJ and the stamp will travel in separate planes.Quote:
Originally Posted by Bostonhibby
:greengrin and a 3rd one for the good lord foulkes as he does like a freebie and I just can't see how they could do anything important without the noble lord around for the photo opportunity, like when he and medals saved them the last time.Quote:
Originally Posted by CropleyWasGod
No doubt both the Lithuanian ambassador and Ann Budge were won round to the cause following one of the Lord's charming liquid lunches. He's been disappointingly quiet about his pivotal role in all this of late, but I do hope his innate modesty doesn't prevent him receiving the credit he is due.Quote:
Originally Posted by Bostonhibby
Aye, its lucky we are the wee team, if we hadn't been he might have deemed us worthy of his patronage, a real yam if ever there was one. Not the best ambassador for anything or anyone really.Quote:
Originally Posted by jacomoseven
Today's DR says Budgie has closely consulted with Levein This could be construed as pi**ing all over the current Yam manager but Gary says he's not concerned! :wink:
Well that's a mental image that will be hard to shake. :grr:Quote:
Originally Posted by brog
:wink:
If " Harry Potter " is the height of their ambition manager wise I fear for them :greengrinQuote:
Originally Posted by brog
:rolleyes:
http://www.scotsman.com/sport/footba...rted-1-3314497
Gary Locke still trying to ingratiate himself with Ann Budge... doesn't seem like she's talking to him.
Still in her purple ensemble. Is that all the pictures the Scotsman has of her?Quote:
Originally Posted by jacomoseven