Probably not, but one must entertain the possibility :greengrin .....Quote:
Originally Posted by nribs
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Probably not, but one must entertain the possibility :greengrin .....Quote:
Originally Posted by nribs
Yup, Macho Hubris.Quote:
Originally Posted by Bostonhibby
Absolutely right, all about the audience bidding for the assets, the lands got to be worth more than £2.5m and it looks like more than a few Lithuanian creditors are smelling blood.Quote:
Originally Posted by CropleyWasGod
The delay created by hanging around like a bad smell in the SPL looks like it could come back to haunt them as the land value market improves and the Lithuanians begin to see through the haze created by the apparently generous and early one and only bid. Whatever, the future hardly looks like the fan ownership model they all saved up for :greengrin
Are you trying to say that Massone isn't a Jambo? :devil:Quote:
Originally Posted by Bostonhibby
Big nose and dodgy haircut? or was that the other one?:greengrinQuote:
Originally Posted by Kato
Not at all, he looks like he has bumped as many charities as they have, and god knows how many flat screen TV's he has ran off with down the years, allegedly.Quote:
Originally Posted by CropleyWasGod
Serious question but if the big L happens how much money is made and by whom from all the diddies. All money less a small admin charge has to be given back. Surely there must be a fair amount of intrest accrued so far? And what is a small admin charge??
Re: how much is Tynecastle worth -
http://www.edinburghnews.scotsman.com/news/transport/edinburgh-house-prices-to-soar-along-tram-route-1-3359043
Property experts have suggested homeowners within a mile radius of the tram route will see property prices rise by as much as 15 per cent along the route.
I would estimate that the soon-to-be-available-on-the-open-market land must be no more than 500m from the new Murrayfield stadium tram stop
It would be a naive liquidator who sells prime land for a knockdown price...
I suspect that, in that event, FOH would change their constitution to allow the diddies (the ones that wanted to) to contribute to the new club. If it was, say, Massone.... that would be none of them. :greengrinQuote:
Originally Posted by nribs
"Small admin charges"...... ha! Who can say? :cb
I think that has been the plan all alongQuote:
Originally Posted by CropleyWasGod
The recent sale of the school for such a low amount is part of this.
PossiblyQuote:
Originally Posted by nribs
Tick Tock, Tick Tock, Tick Tock.........KABOOM!!!
It's been a lengthy wait, but at long last it looks like the Grim Reaper is about to kick the front door in at the PBS ................. Oh Ya ****in' Dancer!!!
GIRUY Yams!!!
:greengrin
Whats the process if it comes clear after the 7th theres no resolution imminent?
Liquidation on the 8th or is there likely to be further deadlines set after this?
Usually, once a decision is made to liquidate, it happens that day.Quote:
Originally Posted by bingo70
Maybe if STF bought the whole shambles, and saved it for the community. Then put Rod bloody Petrie in charge of it, perhaps then we'd have a chance of getting one over them now and again. :rolleyes:
Thanks - that explains it.Quote:
Originally Posted by CropleyWasGod
Cheers.
Maybe if he didn't, they would just die.Quote:
Originally Posted by blackpoolhibs
Thats my favorite option. :wink:Quote:
Originally Posted by GREEN WARLORD
They'll see out the season.Quote:
Originally Posted by bingo70
Thats why i asked, other poster suggesting liquidation would happen immediately. Surely tge fact theyre a football club wouldnt make them above normal financial laws/processes?Quote:
Originally Posted by Mikey
Why is there more than 50% of people who voted on this thread want these tramps to survive?
Liquidation will happen immediately, but BDO and the footballing authorities won't let it happen until the last game has been played. They'll make sure they limp along so the season is completed.Quote:
Originally Posted by bingo70
I've been saying this for some time now.
It's game on once the final whistle goes on the last day though :greengrin
To be clear, if they announce liquidation, they have to stop trading immediately.Quote:
Originally Posted by bingo70
What Mikey is saying is that, in his opinion, they will make it to the end of the season before they make that call. It's one I share.
I agree. They need circa £600k to get them to the seasons end then that's when the plug will be pulled. Nothing is going to be agreed in Lithuania between now and then and BDO (given their experience with Portsmouth) will probably already know the game is as good as over.Quote:
Originally Posted by Mikey
They're not just dealing with one face any more - as Adomonis isn't the one who has the final say-so. There's the good folks at the Lithuanian State Insurance Dept who hold the majority vote on the Ukio Bankas creditors committee and there's Vytautas Sinius and his team at Siauliu Bank who know the deal is wrong in too many ways. They are probably on both the creditors lists of UBIG and Ukio and will want every last Lita that is owed.
The Yams are way-way down the pecking-order in the broad scheme of things and an email from Pishy Breeks and the Lith ambassador will be laughed all the way from Kaunas to Vilnius and back.
Also, lest we forget, all of UBIG's assets are still frozen.
Because that's democracy? :wink:Quote:
Originally Posted by c31
Indeed and they would have to consider returning the advance they received unless the got to the end of the last league game.Quote:
Originally Posted by CropleyWasGod
And because we want to see this suffering continue for the Famous,Quote:
Originally Posted by CropleyWasGod
Quote:
Originally Posted by c31
It would be interesting to refresh the poll to see how much folk have changed their opinions. :dunno:Quote:
Originally Posted by CropleyWasGod
The Jambos are discussing the Celtic view of their situation - http://videocelts.com/2014/03/blogs/...f-liquidation?
I think people have different interpretations of "getting away with it". I wouldn't be too impressed with anything less than League 2 and losing the PBS but that still wouldn't be enough for some.Quote:
Originally Posted by Jim44
There will be a team called Hearts (well, referred to as Hearts by the MSM) playing in maroon in some league and in some stadium next season. That you can be pretty sure of.
Happy with that. Just want them to fold though.Quote:
Originally Posted by Mikey
Thank goodness for those Pesky Frozen Assets ,nice to know some things don't change .lets hope that's still the case at the next DerbyQuote:
Originally Posted by Sergey
Im so peeved they are facing liquidation but yet they are able to beat us. Im sick of this thread lol please hearts die and disappear!
And they think we have green-tinted specs? :rolleyes:Quote:
Originally Posted by Jim44
At an open sale the holder of the security can outbid the lowball bidder and "pay" itself the purchase price. The good bank which owns the Ukio/UBIG assets should want to make the PBS a flat pad and hold it to reap a significant profit in the future. That is what banks that are profitable do and they are in no rush. Ukio's and UBIG's assets have probably already been sold at a fraction of the cost and thus to some other bank that is looking to make fat banker profits over time (e.g. Sauliu Bank who are stable and not in financial stress?). The laugh might well be that the Yams and the PBS have already been shifted for a fraction of $2.5m to another private Lithuanian bank. Checkmate! :greengrinQuote:
Originally Posted by CropleyWasGod
:lolyam:
Sorry, no :greengrinQuote:
Originally Posted by GreenLake
UKIO, being in admin, can't buy new assets. Your scenario is too much like "we owe it to ourselves".
Cue the entry of Salmond with a " Political " plea to save a "Scottish Sporting Institution "
" You heard it here first "
Had a phone call from a friend who is an SNP "Insider" (Aberdeen ST holder) at 21.30 suggesting this could " seriously be on the cards " !!!:na na:
And Ubig can't sell as they're frozen.Quote:
Originally Posted by CropleyWasGod
Thanks CWG, for destroying my Monday fantasy! :greengrinQuote:
Originally Posted by CropleyWasGod
I caught ten minutes of Radio Scotland when I was in the car tonight - it was either the boy from BDO (Bajillions or whatever his name is) or Ian Murray MP - he seemed to be saying the Lithuanians have no option but to take the £2.5m. If they don't they'll get nothing or some such.
That article is as bad as anything Banderson ever wrote.Quote:
Originally Posted by Jim44
No chance of any of it happening. And they mix up their Ukio's and Ubigs.
People keep trying to associate Alex Salmond with this? He has shown zero interest so far. The political interference has come from the Labour party.Quote:
Originally Posted by jdships
Mair like Scottish Sporting ProstitutionQuote:
Originally Posted by jdships
Not guilty m'lud. :wink:Quote:
Originally Posted by c31
A plea to whom?Quote:
Originally Posted by jdships
What do you base that statement on ?.Quote:
Originally Posted by Ozyhibby
It is an accepted fact that he is regular contact with H o H and Mr Murray .
He supposedly bought umpteen ST's when called upon to do so :greengrin.
I have no interest in either SNP/Labour party by the way !!
Eck has friends " in high places " remember !!!Quote:
Originally Posted by Jim44
You are thinking of Kelty Hearts - their attendances may rise if the Jambos can work out where Kelty is!Quote:
Originally Posted by Mikey
Quote:
Originally Posted by Danderhall Hibs
Im no accountant but how on earth do the Liths get nothing if they don't accept the CVA? Ok they might get zip for the Yams (a bust football club) but surely they still hold the land that even allowing for the removal of the asbestos must surely be worth more than £2.5m. There was/is a site being marketed further along Gorgie that's just as big at Tynie for significantly more than this! What's to stop them saying yes to a sale of the football club and no to the transfer of the land? They'd be bonkers to accept only £2.5m
But surely there's nothing to stop one of the other creditors, e.g., Siauliu Bank, bidding for the PBS, sitting on the asset and flogging it at a (hopefully) decent profit some time down the line?Quote:
Originally Posted by CropleyWasGod
It's pish - and it's hacked a lot of folk here off. If they are liquidated the assets are flogged to the highest bidder. There's a good chance that's likely to be more than 2.5M for the PBS alone. It's not guaranteed that they will get more than what's on offer in the CVA of course.Quote:
Originally Posted by 0762
http://translate.googleusercontent.c...My8weXEuUpHpHg
The Ukio Bankas admin was always expecting a lengthy process.
No rush to dispose of the Wonga Dome for the first offer.
No idea mate - he said something along the lines of that if they don't accept the cva then they'll get less that £2.5m.Quote:
Originally Posted by 0762
Be interested to hear our experts thoughts.
I still think they will get out this one. I think the Liths are looking for more cash. The Ukio team are obviously willing to play ball, if not why not call in all their debt from Hearts now? Hearts obviously could not afford to pay it meaning the security of Tynie would fall into the Liths right away and they would own it and could sell it seperately.
The UKIO admin might be willing but ultimately it`s up to UKIO`s creditors to accept the CVA and they appear to be unhappy to just hand over the lot for a pittance. They seem to have cottoned on to the fact they`re being scammed....and they dont like it.Quote:
Originally Posted by CB_NO3
Are we to believe that relevant parties in Lithuania are actually trying to get a better deal for the swindled creditors. Shurely Shome Mishtake! Don't they realise the future of a bankrupt foreign Football Club in a distant land is of far more importance than their pathetic life savings. Some people eh? No sense of perspective. Don't they know they saved the world in 1914-18. Shameful!
Sorry, thats what I meant. I worded that wrong. Hearts are due Ukio 15 million and UBIG 10 million (I might have the figures the wrong way round). So why dont the Ukio admistrators phone Hearts tomorrow and say we are calling in all the debt you are due us. You have till the end of the month to pay the full amount or we will take Tynecastle stadium from you. Obviously they have not done that and dont look like they are going to do that which suggests to me they are still looking to do a deal via a CVA.Quote:
Originally Posted by SurferRosa
Yep, they know they cant possibly get all the cash they`re due so they`ll deal by way of a CVA. There appears to be creditors though that feel 2.5 million is taking the piss.....and i`d agree. I think the thing is though, if i`ve read earlier posts by CWG and others correctly, they cant just immediately re-negotiate a new offer. If those creditors decide not to accept the deal then the CVA is rejected and time is not on Hearts side. If those businesses owed money stand their ground then it`s into the liquidizer Hearts will go. It`s already taken months to get to this stage and they simply dont have the cash or the time to go through it again.Quote:
Originally Posted by CB_NO3
I'd have thought that this derisory bid would have been booted into touch a long time back if it was going to be rejected so I remain sceptical that this won't be another hurdle passed by these jammy bst@rdos.
Preparing for the worst as there's been too many boots in the stanes!!
Is it significant that Iwasanmp has stood back from the yam debacle and Pishy breeks is suddenly fronting things up. Maybe I wasanmp has more to lose than his lordship now that they know that it's all going t*ts up. Also I suspect that Big Eck will be trying to use his influence but he isn't stupid enough to make it public.
We have seen that the great Scottish press have done no investigation of the Yam financial collapse and have simply printed whatever FOH/BDO fed them. Now that they are talking about the big L can we assume that this is being fed to them by FOH/BDO to prepare the yams for the inevitable?
Under the current cvas UBIG creditors get £50K for the shares and UKIOS £2.5M. If they are heading towards liquidation, because UKIOS creditors want their £6.8M for the security on PBS, presumably Bidco isn't going to pay £50K for shares in a liquidated company ? Is this anything to do with the two being conflated which one of the press/BBC articles referred to?
Looking at the £50K for the shares...FOH have DDs from 8000 fans. If they are paying on average only £10 a month, the CVA is offering less than one month's contribution for 50% of the shares in the club. That's not thinking about any other income or value. How could anyone see this as a good offer?
If they are liquidated, we know that PBS will be offered for sale but presumably the club, and other bits and pieces will be offered for sale. We can only guess what these will be worth but presumably more than £50K. On this basis you have to wonder whether anyone representing the creditors could accept the cvas. From what CWG says it is either accept the CVAs or liquidate. Have BDO backed themselves into a cul-de-sac with a steep drop At the end?
Don't know if any of this makes sense. I've had a few Scotchs while I've been catching up.
Of course there is the money that UBIG owe UKIO. Vlad borrowed money from Ukio to finance Hearts. Total debt run up is £70 million of which £40 million was converted to now worthless shares or written off. The bulk of £40 million must have come from UKIO's loans to UBIG although some would have come from UBIG investors now the creditors. No wonder UKIO/UBIG are not going to accept a paltry £2.5 million for a £70 million loss!Quote:
Originally Posted by CB_NO3
Back page of the sun today is a topper. (Sorry, cant post link on my phone)
Not telling us anything we didnt know already but now the msm are catching on to how serious this is i get the impression its about to come to a head very shortly
Back page of today's Daily Record.
Realisation of the seriousness of their situation might actually kick in today.
http://www.dailyrecord.co.uk/sport/f...-draws-3320338
That’s a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme.Quote:
Originally Posted by macca70
Is he having a laugh with the above statement? pots and kettles Brian!!
This sort of language from a close source should win the Lithuanians round though. Or maybe not. :greengrinQuote:
Originally Posted by macca70
Quote:
That’s a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme.
The Yams will be thinking all is still Barry, nice try Hobos look at the date of this article. You can't fool us. Lol
:flag:
Got to love the cheek of the quote from Hearts below, not sure you can take the high ground on someone being dishonest and doing the right thing ya trumpets!!Quote:
Originally Posted by macca70
“That’s a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme.
“The hope is that the transfer of shares will be rubber stamped on April 7. But that’s all it is – hope – because there seems to be an element of malice creeping into this.
“People are having to face up to the awful prospect of liquidation.
“There is a determination to fulfil all fixtures in the event of the worst-case scenario because it would be the right thing to do.”
I don't want them liquidated yet as it would mean they won the last ever Derby! It would be better to do it after the next one :greengrin
It appears to me that a combination of FOH/Bidco have tried to pull a stroke on the Lith's and that is now dawning on the more alert of them. They have a combined offer of £2.5m plus a further £50k on the table and are now being told from all sides to accept it or they get nothing. Utter Bollocks.
Even if the liquidate the school of thought appears to be that Tynecastle itself will sell for significantly more than the £2.5m which would result in a net gain for the Lithuanian Govt who have bailed out UKIO. The Gunts can then scramble over whats left.
Deception and thieving till the very end. Its the Hearts way.
The language being used in these statements now seems to be preparing the plums for the big L word. Reading between the lines, it looks like the plug is about to be pulled on our pink chums across the city.
Real shame!!!
Sent from the Tardis
Hmmm, you're an optimist then?Quote:
Originally Posted by Russian Hibs
I can't see the Lithuanian people being too happy if they have seen that comment.Quote:
Originally Posted by Mon Dieu4
But we'd get a 3-0, so technically......Quote:
Originally Posted by Russian Hibs
Why don't they just die gracefully. If it were up to me the life support machine would be switched off, the plug pulled out and the fuse removed just to be certain.
And just to be certain, i'd get a sharp knife and cut the plug off and then stab the *******s to death too.Quote:
Originally Posted by GordonHFC
And if when they come back as zombiehurtz, oh the fun we'll have letting them know that they've never won the Scottish cup.
pPut a sock in it. What's football got to do with our enjoyment?:greengrinQuote:
Originally Posted by Russian Hibs
How can anyone involved with the mob say that someone else is being discourteous or dishonest. Local businesses and charities and well as public monies (not paid for council tax, taxes etc). Aye a big laddie did it and ran away.... Really. Struggle to end of season and then pop. Get it roond ye
I hope you're not suggesting that Sergay sends a link to his source in Lithuania.:greengrinQuote:
Originally Posted by CentreLine
Page 49 of daily record "That's a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme"
Hopefully before any more meetings between BDO and our Lithuanian friends someone informs them exactly what our inbred neighbors really think of them.
We should all be doing that!Quote:
Originally Posted by Jim44
Walking back to the car after the derby I had to walk along Dalry past a ton of very smug puddle drinkers who gave the usual mutant rhetoric, which was responded to with assertions that I will have a club to support next season whilst they will not.
Looks like my assertions were indeed well founded.
That is the bottom line in all this. Since Vlad arrived amid (correct) comments that he would run them into the ground the line Hearts fans have taken is that it's "hobo jealousy". Any dissent within their own rank, ranks has been quickly supressed. Now that the reality is about to hit they've started lashing out at the people they owe money to.Quote:
Originally Posted by Ryan91
Zero common sense, zero humility and zero brains.
I personnaly think the pie-man and mercer share the blame for giving their fans a warped attitude as to their true status. They aren't a big club in any way and soon, they won't be a club at all.
Billy Brown :greengrinQuote:
Originally Posted by jdships
"BDO Preparing For Liquidation"
Love the title, only hope that this actually happens.
:tbgwa:GGTTH, eventually.:tbgwa:
A wee reminder of the yams ability with numbers and i quote
http://www.hmfckickback.co.uk/public...0/snapback.pngFrancis Albert, on 01 April 2014 - 12:58 AM, said:
FOH have been clear for some time they have over a million a year coming in , Ann Budge or no Ann Budge #2.5m doesn'tb look wildly gnerus but i think it will be enough,
There is 1 million banked already so we can give them 3.5 million if they ask for it.
All this talk of liquidation for the Yams on April 1st. :greengrin
I wonder if any of the knuckle-draggers over on kickback are thinking that come mid-day someone will post April-Fool and it will be business as usual and the rubber stamp is just a box tick away.
I will say again,especially to our guests looking in.
This thread has been,
"THE ONLY TRUTHFUL DOCUMENTATION OF HEARTS DOWNFALL"
:hibees:hibees:hibees
Sorry, I don't see the joy.
The asbestos and asbo filled club who started on minus fifteen, play kids, can't sign anyone and have 'strugglin'' on their management team go bust meaning we're short of even more cash and we STILL ****ing can't beat them.
Pull the plug on Hibs instead, move to straiton, call the new club Edinburgh United have them play in maroon and realise some fat tory's vision from years ago.
(Can you tell I'm not over Sunday yet?)
To use a Garry Locke phrase "this isn't a n excuse but"Quote:
Originally Posted by Speedway
"our hands are tied behind our back"when the officials quite blatantly where never going to allow us our day.
copy and paste?Quote:
Originally Posted by keekaboo
ANXIOUS administrator Bryan Jackson is drawing up emergency plans to keep Hearts playing for the rest of this season even if he is forced to call in the liquidators this month.
Record Sport understands BDO chief Jackson is now reluctantly preparing for a “worst-case scenario” after being left dismayed and perplexed by the latest move from Lithuania to stall on a deal to rescue the club through a CVA.
Hearts had expected to take a huge stride towards safety on Friday when creditors Ukio Bankas and UBIG were scheduled to rubber stamp the transfer of 80 per cent of the club’s shares to Edinburgh millionaire Ann Budge.
Not only did that plan fall through – with the meeting put back to April 7 – but Jackson was then blanked by the Lithuanians for 48 hours despite attempts to seek an explanation for this latest dramatic twist.
Now fears are escalating that the entire deal to haul Hearts back from the brink is about to collapse, leaving Jackson with no option but to wind the club up when it runs out of cash in little more than four weeks.
SPFL bosses accept Hearts may not be able to fulfil the rest of their fixtures.
One senior Hampden source last night said: “If Hearts are wound up and unable to continue playing this season then options would be open to the board although obviously no one wants it to come to that.”
However, Record Sport understands even in the event of liquidation, Jackson aims to come up with a contingency plan to limp Hearts over the finishing line on May 10.
A close source said: “The situation has worsened because of Friday. Nothing came back from Lithuania until Sunday night.
“That’s a sign of the discourtesy and dishonesty they have been dealing with all the way through but even by Lithuanian standards this was extreme.
“The hope is that the transfer of shares will be rubber stamped on April 7. But that’s all it is – hope – because there seems to be an element of malice creeping into this.
“People are having to face up to the awful prospect of liquidation.
“There is a determination to fulfil all fixtures in the event of the worst-case scenario because it would be the right thing to do.”
Michael Stewart: Tough decision must be made on Gary Locke's future
Should Hearts be unable to complete their fixtures the SPFL board will face difficult decisions.
Under rule C53 all of Hearts’ results this season could be expunged – which would be good news for rivals Hibs.
Alternatively, the board could decide the results of any outstanding games. Typically this would see all remaining opponents awarded 3-0 wins.
But Jackson continues to lead the fight for survival.
Jeff Holmes/SNS Grouphttp://i2.dailyrecord.co.uk/incoming...74-2106935.jpg
Administrator Bryan JacksonHe has engaged with the Lithuanian and UK ambassadors in a bid to plead Hearts’ case ahead of the April 7 D-Day. He is also preparing to fly to Eastern Europe to help push the rescue package through.
A senior source inside Tynecastle told us: “It is now 50-50 as to whether this deal happens or not – whites of the eyes time.
“The ball is in the court of the Lithuanians. With every delay comes increased uncertainty.
“In terms of liquidity the club can continue until the end of April. But after that, with the season not finished, there is a question mark about what happens next.
“BDO have been pushing for these shares for 10 months now so this is going right down to the wire.”
Foundation of Hearts chairman Ian Murray said: “We are all worried. We want to get this over the line. It has been going on too long now.”
Must be an April fool, this can't possibly happen:greengrin
Every cloud does have a silver lining after all.
discourtesy and dishonesty :hilarious
:kettle:
here, away 'n' polish yer neck
http://www.homecareessentials.co.uk/...so_1_Litre.jpg
If their results get expunged do we claim a 100% record against them this season?
I'm sure calling them discourteous and dishonest will spark them into life and speed up the rubbing stamping process right enough
Taking the emotions out of it and treating Hearts as an ordinary business, rather than a football club with a season to finish, I can't understand why BDO would make sure Hearts complete the season. Would BDO keep a toy shop trading because Christmas was 8 weeks away knowing it wouldn't make it to New Year? Doubt it.
If nothing happens on Monday why don't BDO pull the plug then? Surely it cannot be in the creditors interests to keep going and could BDO be in danger of being sued for trading whilst insolvent by the Liths?
In addition the timing would be perfect for SPFL as the split would be completed. No games would have been played post split meaning no-one would have to get their result cancelled and it wouldn't mess up the fixtures. The main losers would be Hibs as we would lose the gate from the final fixture.
Roll on Monday.
Quote:
Originally Posted by Speedway
LTYF
:na na:
Correct. Anytime there has been a big derby, they've been given outrageous decisions in thier favour.Anyone hear about when we could gave relegated them in 1977 only for them to equalise with a goal from a player metres offside? The cup final penalty that was nearer the stand than the penalty box.It never has been a level playing field in the Edinburgh derby. Clearly they have supporters inside.Quote:
Originally Posted by Glesgahibby
Quote:
Originally Posted by Tricla
Yep, as does everybody else.
Altogether now...
:singing:
"Three Nil,
Three Nil,
Three Nil,
Three Nil....."
:greengrin
Probably because they have been given an advance on their SPFL money. In the event that they stopped trading, that would be repayable.Quote:
Originally Posted by PatHead
Enabling them to trade until the end of the season would avoid that, it would also give them some additional income, as well as entitling them to a further SPFL payout. That would make sure all post-admin bills were paid.