Just the BBC catching up with Hibs.Net.:wink:Quote:
Originally Posted by Jim44
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Just the BBC catching up with Hibs.Net.:wink:Quote:
Originally Posted by Jim44
What is your authority for this? :cbQuote:
Originally Posted by Sammy7nil
I think that is a tad optimistic considering the big L looms larger everyday.Quote:
Originally Posted by CropleyWasGod
Keep the faith.
Article now on the BBC websiteQuote:
Originally Posted by Weststandwanab
http://www.bbc.co.uk/sport/0/football/26817253 :aok:
Last paragraph, almost a throwaway
Quote:
UBIG, which was controlled by former Hearts owner Vladimir Romanov, had its assets frozen in April 2013 after declaring insolvency, while Ukio collapsed more than a year ago.
About time these journalists started pointing out that FoH are trying to buy a £20m asset for £2.5 million. It may help people understand the magnitude of the task.
It would also bring balance to the story and maybe help Johnny Yam to face facts. Up until now the media have been complicit in the whole charade. They should have a look at Kickback, and weep at the creatures they have created.
Exactly how does this thread embarrass you? There's plenty of other threads discussing how ***** we are. The only embarrassment here is Heart of Midlothian football club.Quote:
Originally Posted by Sammy7nil
This has brightened up my Monday morning, just a bit!
'With all of the uncertainty at Tynecastle, BDO are not selling season tickets, but with around £100,000 a month required to keep the club going, revenue would need to be raised over the summer months.'
Eh? The cost of running Yak is £1.2m a year? I think he means £100k a week.
You can tell you haven't been reading this thread. If they make the 1st division it'll be a minor miracle.Quote:
Originally Posted by Sammy7nil
Leigh said said it best yesterday "Hearts are going bust"
Isn't this a bit of a red herring now? As a example, Vlad bought the old bank building on St. Andrews Square for £20m and its now valued in the region of £4m. I recall reading an article in the EEN when the empire collapsed and this figure given. May not be fact could be the "EEN understands" but my question is, is Tynie worth £20m given what would require to be done to bring it up to development status? The land is def worth more than £2.5m but reality?Quote:
Originally Posted by Filled Rolls
What about this in the EN , http://www.edinburghnews.scotsman.co...-cva-1-3359075
next fat Eck will flying over to beg them to get a move on.
Nothing to do with Eck, more like the Labour diddies Foulkes and Murray.Quote:
Originally Posted by greenpaper55
Is this the Yam way? Good news stories come out after a bad result on the park to deflect from the result and bad news stories come out after a good result as their hoards are too busy wallowing in beating the wee team and too hung over to notice that they are in reality ****ed.
Not the first time they've tried this. The Lithuanian ambassador for the UK was over here a few months ago and Jackson tried to set up a meeting. His request was ignored.Quote:
Originally Posted by greenpaper55
Seems that way.Quote:
Originally Posted by The Sea-gull
What a fat slavering eejit Foulkes is.Quote:
Originally Posted by greenpaper55
"If we move towards liquidation the creditors get nothing at all". Actually Georgie boy they'd get more from liquidation than a cva. Roaster
Seriously Baj what odds would you give forQuote:
Originally Posted by Bajillions
Hearts exiting admin prior to the start of next season
Hearts still being in admin at the start of next season
Hearts being Liquidated before the start of next season :wink:
Hardly.Quote:
Originally Posted by greenpaper55
Things seem to be panning out ever so nicely.
Some tweets lifted from the FOH twitter.
Quote:
The press are speculating today on liquidation. This is nothing new as we have always known if deal fails that was a possibility....(1/3)
Quote:
Meetings of 7th April r critical in getting agreement. Fridays meeting was postponed to then to allow UBIG & UKIO to be done together (2/3)
Quote:
BDO and others will be working round the clock this week to smooth agreement. We are confident common sense will prevail. (3/3)
With these jammy *******s having rode their luck for decades, what are the potential things that could happen that could see the CVA being approved and everything going their way?
Sorry if this is a simplistic question, but with what they got away with yesterday (penalty and legit goal) I just don't want to see this mob somehow get away with not being liquidated.
Some people have the ability to multi-task. I can be p****d off at yesterdays game and still be happy in the knowledge that the joy our repugnant neighbours felt at reducing the deficit on the rest of the league to a mere 18 points will soon be replaced by the cold reality is that it may well be the last time it happens for a generation.Quote:
Originally Posted by Sammy7nil
Not in the slightest embarrassed by the thread
Wasn't BJ over in Lithland just a few weeks ago and came back without saying a word? ( that sounds promising not).
Anyway i'm sure they have his number and will call when something happens.Tick tock.
Technically 1 & 3 go hand in hand. I'd give 500/1 on #2 though.Quote:
Originally Posted by nribs
Love the use of that most hated (well by me, anyway) phrase 'common sense'. Generally used by people who can't believe that anyone could possibly disagree with their own opinion! Would it not be 'common sense' to reject the offer and sell the land; thus recouping more funds to pay creditors?
:agree: It's a childish tactic used by amateurs. Implying your opponent is less intelligent for taking the route you want them to avoid with no evidence to back it up.Quote:
Originally Posted by MartinfaePorty
According to the BBC red button text service 'BDO are waiting for UBIG's 50% shareholding to be transferred for a fee of around £2.5m.'
Really??
Bet u didn't know that - clowns.
I'm an MP has spoken - little surprise that he jumped ship, eh!
http://www.scotsman.com/news/scotlan...soon-1-3359252
Quote:
“If the 7 April meeting either doesn’t take place or isn’t very positive, then I think everyone has known for some time that liquidation is a possibility,”
Quote:
“We are all worried. We want to get this over the line. It’s been going on too long now and the information coming out of Lithuania is inconsistent or incomplete.
They wouldn't listen - but it's now sinking in.Quote:
There is nothing we can do about it.
Quote:
Originally Posted by Sergey
“If we move towards liquidation, the creditors get nothing at all. It should be in their interests to agree this CVA as quickly as possible,” Foulkes told the Evening News.
Still peddling this nonsense in the hope the Liths will forget about the security on Tynie.
Quote:
Originally Posted by Sergey
It ain't over till the fat self-serving politician squeals....
Yep, this has been irritating me as well. It`s garbage. The only creditor getting anything anyway is UKIO. An asset sale wont change that, in fact they`d get more if the whole lot was sold for something closer to it`s true value.Quote:
Originally Posted by BarneyK
Trying to frighten the Liths into accepting sweetie money by suggesting they`ll get nowt if a liquidation takes place. Surely the Lithuanian admins and creditors wouldn`t be so utterly stupid they`d believe this pish...
We would hope not given they are in this very business. BDO, FoH and Foulkes are using tactics that it seems the lith admins aren't going to fall for it. Friday was the first real chance they've had to look over this and make a decision and they said "something smells fishy".Quote:
Originally Posted by SurferRosa
Remember last week when it was green lights and rubber stamps all the way?
I am sure that with a number of small contributions from netters, we could commission a desk top valuation for the land at the PBS from the likes of Ryden.
Cala aren't interested anymore as they have shifted their model to high value detached houses. Tesco are unlikely to be interested either as they are developing the smaller convenience shops. In any case, that area is now saturated with Supermarkets.
The most likely source of a buyer would be from down south. They would not be influenced by any political nonsense and would see the potential of a piece of land so close to the city centre. BDO said in their report that it would fetch £7.5m without the distilllery issue (which we know is nonsense) and the hordes of marauding football thugs (similar nonsense).
I would think that at £7.5m, the budgie interest would disappear like feathers off a dead parrot. It could conceivably go for more though and, if I was a creditor, I would want a truly independent report free of any BDO influence.
Just on the radio a real chance of liquidation if the meeting keeps getting delayed,here's hoping eh
The Hibs.net financial dudes told us this eons ago.Quote:
Originally Posted by leggeto
I know but its good to hear it again,especially after that yesterdayQuote:
Originally Posted by Waxy
Its the rubber stamp i feel the most sorry for.
He has been well and truly led up the garden path and even reassured by his mate the green light.
What's the future for him now? Its the little people that come of worse in this sort of mess.
Also...has anyone checked in with Bulgaria? I fear the tears will have stopped flowing....
Rubbish they were out of admin before Christmas. A gasman told me!!Quote:
Originally Posted by leggeto
Platini will launch a full blown EUFA investigation if British Government Officials force through the CVA in Lithuania. It will be seen as State Aid giving Hearts an unfair financial advantage over their Champions League rivals Barcelona, Bayern Munich and Juventus.
I see the clowns have dropped the story from the main football headlines and amended the Round the UK Scotland article to omit the nonsense about £2.5 mil. £50,000 isn't it?Quote:
Originally Posted by mim
This thread is informative and a healthy diversion from our own problems.Quote:
Originally Posted by Sammy7nil
What I find embarrassing is that Scotland's MSM do not have the guts and/or motivation to research and publish information readily available as highlighted by CWG and Bajilions et al.
I'm still confident that in the absence of the 'rubber stamp' and the 'green light', 'common sense' will prevail. After all, if Hearts are liquidated then their trophies might be rescinded, resulting in Germany claiming WW1 & WW2 and everybody having to wear jackboots. China, who dominate the shoe industry, would hold a gun to the head of the west. Nope, way too much at stake here.
EEN - "Hearts administrators BDO will enlist political help in an effort to save the Edinburgh club following crunch talks at Tynecastle yesterday" bla bla bla. It goes on to say Foulkes has already petitioned Lith's UK ambassador for help & is "helping" arrange for Jackson to meet him in person this week. "He admitted he was concerned about the prospect of Hearts being liquidated if the shares are not transferred to prospective owner Ann Budge in the next few weeks, despite a CVA being agreed in November." HO HO HO. They are s******* themselves now. Foulkes running around trying to make out he is the saviour when he was instrumental in them being in this mess in the first place. I know we don't have our problems to seek at HFC, but thankfully nowhere near as serious as this. Pleasing. :greengrin
Quote:
Originally Posted by BarneyK
:agree:
This is now the official phrase to be recited by all, in an attempt to deflect reality. It's now been said by Foulkes and Murray, and is being repeated ad-infinitum on the Scotsman comments.
They do sound desperate.
I think Lithuania as a country have more pressing issues now than a couple of mil from Escotia !Quote:
Originally Posted by Bajillions
That is a bit hash on slavering eejits.Quote:
Originally Posted by #FromTheCapital
Oh can I play this game ?Quote:
Originally Posted by nribs
would give short odds on 3 days after the season finishes.Quote:
Originally Posted by Bajillions
Not quite true, one creditor will, relatively speaking, do quite well.Quote:
Originally Posted by BarneyK
or gets Colin NishedQuote:
Originally Posted by Dashing Bob S
It will disappear at about £3.5m in my opinionQuote:
Originally Posted by Seveno
Why thank you- keep the faithQuote:
Originally Posted by Waxy
That will be the first Christmas after the big LQuote:
Originally Posted by nribs
They cheated and lied their way into administration and now they are trying to cheat and lie their way out of it. All too believeable.
I also note that house prices near the Tram fiasco are to increase, given the PBS is close to the Murrayfield stop could raise a bit move value. Could be the only 'good' aspect of the tram!!Quote:
Originally Posted by Seveno
Quote:
Originally Posted by Seveno
The maximum value of the PBS can only be ascertained when the site has been completely cleared, and any stigma attached to depriving the Famous of a home has been removed.
Developers will be able to work with the planning dept. to get the maximum value from the site.
in other words get Scotdem in before advertising the dump. :greengrin
Quote:
Originally Posted by semaj64
Yeah, and there will be a development surcharge on the site to pay for the trams.
That was where the Yam mega stand hit the buffers. The Council wanted several hundred thousand for the planning stage to progress but the UBIG check never arrived.
tic tic tickety tockQuote:
Originally Posted by Sergey
Without going over the c23m posts on this subject, can someone remind me of the state of the tax they owed to HMRC before going into administration?
If my memory serves me right, they had agreed a long term repayment plan, if so, the money outstanding will now have been lost. If that is the case why should my tax money go to paying ambassadors, government officials etc, trying to dig them out their hole, they have used up enough of my money already. Get the place knocked down ASAP and get the 'Gorgie Village' regenerated project underway and create many, many more jobs that the current inhabitants do.
Approx £1.8m, IIRC.Quote:
Originally Posted by big-mo
I have a vague recollection of a land valuation of Tynecastle commissioned by BDO. Does anyone have a link to this/know how much it was valued at?
The reason I ask is that some people (morons) are now changing tack from "UKIO will get nothing" to "UKIO will get much less than 2.5M from the land".
short version: it's gone.Quote:
Originally Posted by big-mo
long version: one of the benefits of administration is saving the company so that it can pay tax in the future. If tax is the priority here we should be hoping for Hearts survival as it means more money.
And what was the amount the share issue proposed to raise for [ahem] youth development?Quote:
Originally Posted by CropleyWasGod
They really do just open their gobs and let any old crap hiding in there drop out.Quote:
Originally Posted by keekaboo
Did scotdem not get liquidated tooQuote:
Originally Posted by greenginger
Lets hope they do get liquidated & don't finish the season.
Everyone would be awarded 3-0 wins against them, that has to work in our favour, seeing as they've been beaten by everyone else.
We'd be well clear of the play off spot.
Quote:
Originally Posted by JAY-ESS GREEN
Sorry, their reincarnation Chamic. They were a good bunch of Hibbies way, way, back !
An in-depth Jambo explanation for today's announcement - "A complete non-story stating the obvious to try and cast clouds over yesterdays victory and possibly everything going tits up at ibrox.
The weegie media hate seeing us happy."
Which is why it has quotes from Foulkes and Iamanmp. Childish idiots will see the death of their club.Quote:
Originally Posted by Jim44
:faf:Quote:
Originally Posted by Jim44
Its amusing how they can't see the similarities between them and The Rangers yet. Like anybody outside Edinburgh gives a monkeys about The Famous.
Now THAT would be poetic.... but just don't see it. They'll complete the season, just to spite us :greengrinQuote:
Originally Posted by Gingertosser
Good point, another £1m on the price. Take note, Sergey.Quote:
Originally Posted by semaj64
It turned out more than £ 1.8 million at the final count.Quote:
Originally Posted by CropleyWasGod
The BDO interim statement updated the figures.
HMRC Debt management unit £ 1,881,065.00
HMRC - VAT national insolvency unit £ 646,851.00 ....... Gues that was the Vat on the pre-admin season tickets.
Grand total £ 2,537,916.00 of tax stolen by the Heart and Soul of Edinburgh F C.
Just to remind everybody that it's April tomorrow and I'm astonished to find that Hearts are not out of administration yet.
Is sometime in May the new estimate?
IIRC, they employed 'political help' to bring Vlad to the PBS in the first place. Steve Cardownie and APB.Quote:
Originally Posted by emerald green
"Vlad is the real deal", quoth they at the time.
They didn't do a great job then....that's all I have to say.
Still, you can only con those who want to be conned.
May is the new April.Quote:
Originally Posted by Dashing Bob S
I'll tell you what, Robert - the panic is setting in over-the-road and their Head Honcho, Dexter is now asking....Quote:
Originally Posted by Dashing Bob S
It's a bit late in the day to be discussing that, ya welt. Let me give you a wee tip, Dex - Liquidation means you lose the lot.Quote:
Nobody has really answered what the contingency plans are.
ie - if we get liquidated what happens - will AB step in and do a "Rangers" ? Are we guaranteed league status ?
The big U-Turn is on. Ian Murray (Fat MP version), Michael Stewart and a few others being rolled out on Reporting Scotland talking about the possibility of the Big L and how the fans will rally round. The panic is almost palpable.Quote:
Originally Posted by Dashing Bob S
April should be fun :greengrin
What are the odds now on them failing to complete the season?
They will see out the season. The second half of May might be tricky though :greengrinQuote:
Originally Posted by Joe6-2
hahahahahaQuote:
Originally Posted by Sergey
Just like there wasn't a sanity clause, there ain't no contingency plan. They put all their eggs in one basket only there isn't enough eggs.
And April is the new March, when the share certificates get issued.Quote:
Originally Posted by Filled Rolls
...erm.
How long before they come up with a Plan B?Quote:
Originally Posted by Onion
Rangers had it built in to the proposed CVA throughout.
Is it already too late to get a Newco up and running in time for election to League Two (or Lowlands League)?
Will there be competition (Shoeless Bob, Massone, Hibs-net?) for the purchase of the club name and identity by FoH from the the liquidator?
They will be out of admin and second in the League by October...Quote:
Originally Posted by green glory
... (via liquidation, South Central Edinburgh Sighthill Calor Gas Store 4th Division).
Or baskets :greengrinQuote:
Originally Posted by Kato
Basket cases abound but they are all now focussed on why there isn't a plan B. All these months later........... shame really, but they were always going to be out of admin by xmas because they are a big team who owe it all to themselves and Lord George Foulkes and independent Ian Murray are sorting it all out, just like Mr Romanov Sir did before them.........
Tick tock
I would have thought that, privately, a plan for liquidation would already be there, in principle at least. If not through BDO or FOH, at least by someone independent.Quote:
Originally Posted by jgl07
If there isn't, it's irresponsible.
Some of the Jambos seem to think that, if the big L materialises, they will then be salvaged by Budgie and, albeit in a lower league, will pick up the pieces and plod on at the PBS. Old ground already covered I know, but does liquidation not mean that they lose their share in the SPFL and have to re-apply? Furthermore, will the Liths. not take the option of the security on the stadium and dispose of it ( maybe sell it back to them (if they could afford it)?
.
Hubris and/or stupidity. Probably just the latter.Quote:
Originally Posted by Bostonhibby
AB might well buy the PBS, but it would be in a sale on the open market. She might not want to, of course, given that it might take her longer to get her money back.Quote:
Originally Posted by Jim44
As for the security, UKIO would get the first £6.8m (after the liquidator's fees) of that sale.
And, yes, they would lose their SPFL share. A Newco would have to apply to have the share transferred to them. That would result in a similar process to the so-called Sevco "5 way agreement", to make sure that all football debts were paid first.
:confused:Wasn't Hubris that South American guy who earned £20k a week that Vlad loaned them from Kaunus but never kicked a ball?Quote:
Originally Posted by Kato
There would be absolutely nothing left of the current Hearts, so a transfer would be difficult. Any interested parties would have to make a proposal to the SFA then keep their fingers crossed.Quote:
Originally Posted by Jim44
That part's much more certain than the first. Tynecastle would be the UKIO Admins asset to do with as they please, so could sell or rent it to whoever they like. The problem is that Tynecastle is presumably covered by the same asset freeze as those pesky shares, so anyone wanting to rent it from them would find it's not actually straightforward to do so, or may take a while.Quote:
Originally Posted by Jim44
Even the most Ostrich like of Hearts fans are now facing the prospect of having to find another stadium elsewhere.
Sorry, that's not correct.Quote:
Originally Posted by keekaboo
Tynecastle would still be owned by HMFC (IL). It would be sold by their liquidator, and the proceeds divvied up as I mentioned above.
Is it sellable or frozen?Quote:
Originally Posted by CropleyWasGod
Quote:
Originally Posted by CropleyWasGod
Fair enough, wrong entity. Replace the word Admins with Liquidators and it's still basically the same :wink:
However, the effect on any prospective New Hearts would be the same.
Quote:
Originally Posted by Jim44
There is very little chance that they could be liquidated and the PBS, the name and assets marketed and sold in the close season.
The league share can be transferred at any time as it can't be sold.
If they want to start a newco in time for next season, they should really get a move on and liquidate now.
It's sellable.Quote:
Originally Posted by Springbank
It's only UBIG's assets that are frozen. Tynecastle is not an asset of UBIG, it is owned by HMFC.
I think this is right, all budgie would be doing is bidding with her own money for the whole shooting match up to what she thought it was worth or the original £2.5m if no one was likely to gazump it, if the figures went beyond that she could probably bid more and still get the flumps to pay her back for the privilege of her owing the club and having a charge over it.Quote:
Originally Posted by CropleyWasGod
The winners will be the creditors as they will get a higher figure, if budgie wins at a higher figure she gets to be saviour, she might not fancy tying up her cash for even longer, either way the flumps pay more for longer and we all get to watch.
Quote:
Originally Posted by CropleyWasGod
Are you sure about that? I thought the ongoing criminal investigation covered both of them (UKIO and UBIG), therefore frozen assets on all sides :confused:
Every month is fun with the Yams Administration.Quote:
Originally Posted by Onion
Very little as the GFA will make sure the fixtures are completed.Quote:
Originally Posted by Joe6-2
Days after the last game is my prediction for the big L.Quote:
Originally Posted by Mikey
I understand it was done last December.Quote:
Originally Posted by CropleyWasGod
Love the sound of that, this coming week could be fun, first they are relegated thinking they have a year in the first division then no meeting takes place with no new date set so it's goodnight Vienna, it would cheer me up no end.Quote:
Originally Posted by CropleyWasGod
It's sellable. In the same way that any other of Hearts' assets are sellable, eg. Adam King's registration.Quote:
Originally Posted by Springbank
I would imagine that BDO and Budgie will try and cook up a quick business and assets transaction a la Sevco with Yams at all levels attempting to bully/intimidate other potential buyers of the site.
Hearts assets aren't frozen, though.Quote:
Originally Posted by keekaboo
Hearts own the PBS, albeit with a security on it. That security would get paid (at least partly) from any sale.
Quote:
Originally Posted by CropleyWasGod
Does that mean that BDO could engage in a stitch up and sell it for a fraction of its true worth?
There is another possibility, of course, that an open sale might result in a lower price. If AB is the only bidder, and she knows that, there's nothing to stop her buying it for even less.Quote:
Originally Posted by Bostonhibby
That way, she wins, and UKIO lose out.
is this actually likely though??Quote:
Originally Posted by CropleyWasGod
It's "true worth" is what someone pays for it. If AB is the only bidder, and she bids say, £1m, that's what it's worth.Quote:
Originally Posted by keekaboo
That said, it can't follow the Sevco model. Those assets were never put on the market the way the PBS would have to be, so I don't think the "stitch up" that you're suggesting could happen.