Wiki has a list of all UK clubs which have gone into adminisration.
Does anyone know which ones had an easy time of it?
http://en.wikipedia.org/wiki/Adminis...administration
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Wiki has a list of all UK clubs which have gone into adminisration.
Does anyone know which ones had an easy time of it?
http://en.wikipedia.org/wiki/Adminis...administration
12 months on from The Huns and the same p!sh is being spouted, only this time it's even less accurate with regards to Hearts. Other clubs have suffered due to their cheating, and now their backers are trying to claim that they shouldn't be punished for it as all other teams will suffer due to the punishment? **** off.Quote:
Originally Posted by green glory
Archie MacPherson trying to make out that last year's SPL was a joke and lacked credibility was also a disgrace.
Allan will have to tell his brothers Sandy K and Rolland.Quote:
Originally Posted by lord bunberry
Would/should UBIG not have had a say in who HMFC appointed anyway as parent company, before KPMG were approached? Or is this something else that could makes things more than very complex?Quote:
Originally Posted by McPhisto2
I lost any small respect I had for McPherson after watching that. What an utter buffoon. No regard whatsoever for the innocent people who have been robbed and cheated by the festering cesspit that is HMFC. Hope I never encounter the slavering erse on tv ever again. BalloonQuote:
Originally Posted by Bajillions
Sent from my iPhone using Tapatalk
Absolutely spot on.Quote:
Originally Posted by Stevie Reid
The same tactics the vast majority of the puddle drinkers would have been slating Rangers for using but when it comes time to take their medicine they behave exactly the same.
"but, but, but it would be bad for Scottish fitba.........we are a big club....."
No dignity, no surprise really though.
Ukio Bankas speaking for UBIG as UBIG their biggest creditor and had their assets frozen by UBQuote:
Originally Posted by 7062
UBIG are the holding company and at present hold all the cards, Hearts are TRYING to appoint KPMG as this would appear to be a better strategy for them, however it is far from simple or strauightforward.Quote:
Originally Posted by 7062
Should UBIG or the Lithuanian admin decide the need to sell the stadium and other assests quickly then I dont see any other option other than Hearts becoming insolvent to avoid that happening, basically I genuinely now think that this is an absolute minefield and we or anyone else dont know the half of it and should Hearts be playing football in any league next year will tak a momumental effort, the option to ground share with Livi has been muted but surely with the new football league structure this wouldnt be permitted.
All the bluster from the ostriches are missing the key evidence and if they dont start making big waves than keeping their heads buried they will have nothing, none of this no debt, new start and be stronger than ever codswallop!!
I may have updated the wiki page for you :flag: :hibeesQuote:
Originally Posted by Hibbyradge
Celtc actually dropped 10 points more than Man U & even newco in Div 3 dropped the same amount, 25! See that EPL, it's crap, don't know how they survive without the OF!!Quote:
Originally Posted by EskbankHibby
Acknowledging the fact that McPherson is indeed a Rangers hugging doomsayer, does he have a small point? What's everyone feeling (apart from utter elation at this point!) about how Hearts possibly not existing could affect other SPFL teams in the long term? There's no getting away from the fact that we'll lose some revenue through no derbies but is everyone confident that in this scenario all will be as was last season? Or will it become more evident with time that other teams will struggle more?
Not trying to rain on the party or anything (cause I'm chuffing loving it just now :thumbsup:), just a niggling theoretical question....
Is this good news or bad news :cb
Papers lodged by Hearts officials at Edinburgh’s Court of Session yesterday named KPMG’s Blair Nimmo and Tony Fryer as nominated administrators. However, Valnetas UAB, administrators of Ukio, want their own people in charge of the process. That could potentially lead to a scenario where Tynecastle Stadium is sold off to recoup some of the £15m Hearts owe Ukio.
If KPMG are appointed they would be obliged to look after the best interests of Hearts, but as Hearts’ major creditors Ukio administrators could force their own appointment, who would then be duty-bound to serve them alone.
Hearts were today praying that the court appoints KPMG as quickly as possible.
One source admitted the sitation is “high-risk” due to the potential for Tynecastle to be sold off. If that situation arose, Foundation of Hearts would almost certainly attempt to secure the ground on the club’s behalf.
“If it becomes a property deal, I would hope somebody, even Foundation of Hearts, would buy the stadium as part of the ongoing rebirth of the club,” said the Foundation’s independed chair, Ian Murray, today.
“Rules are rules. This process started because directors of Hearts decided the club can no longer meet their liabilites. KPMG’s name is on the papers submitted to courts but that can be challenged.
“It can be challenged by Hearts’ major creditor, which is Ukio Bankas, and they’re entitled to appoint their own administrator.
“They are going to have to appoint someone local. I think rules are that they can’t use someone who has administered or liquidated a club in the last 12 months, so that rules out big companies involved at Dunfermline and Rangers. There aren’t many left.
“Tynecastle could be sold off but hopefully, if that happened, it would go to someone who wanted to play football there.
“The whole planning issues around Tynecastle are quite complicated. We saw that with the application to build a new main stand some time ago. There are problems with the proximity of flammable liquids and ethanol from the nearby distillery.
“It’s not an easy property deal to do.”
I'm sure this has been asked before but who are the club's directors as mentioned in that report? Did they not all resign?Quote:
Originally Posted by McPhisto2
Shortsighted? This coming from the man who championed Romanov??Quote:
Originally Posted by green glory
You have put 130 years of history in jeopardy and have potentially killed your club, all because you trusted the dubious motives of a foreign businessman instead of dealing with the debts in a responsible manner. And you call us shortsighted?!
These ex players Hartley Stewart etc claiming they shouldnt have been run the way they were. Well they themselves along with others are the ones who have killed hearts by stealing rudiculous wages.hypocrite jambos jumping out the woodwork, probably getting paid for their hypocritical view. Go rot jambos.
Motherwell themselves painted a picture of doom when trying to win round their supporters to the idea that having Rangers in the SPL was the best for everyone. In Rangers' stead, Motherwell have just finished 2nd and qualfied for Europe, having had a great season - more prize money, and a happier support.Quote:
Originally Posted by McPhisto2
People are going to have even less time for doomsday scenarios now, for two reasons: -
1) It didn't happen when the SPL lost Rangers
2) Hearts are much smaller than Rangers
I'm pretty sure that someone posted on here recently saying that Hearts average away support last season was actually pretty paltry as well. The idea that the SPL couldn't survive without them is utterly ridiculous - they finished 10th this year, had they been relegated fair and square, would the same questions be being asked? No chance.
:thumbsup:Quote:
Originally Posted by AndyB_70
Insolvency guy in Evening News saying that the security on the stadium can't be called now. Does this have any impact on how likely it is that the stadium is sold?
Mind you, he is also havering about Newco getting relegated to the Third Division last year.
Yeah some good points there cheers, however, I guess I wasn't really asking if the SPFL would survive, but really if anyone can see a slow, possible domino effect in other clubs maybe slipping into financial dire straits as time goes by, say over the next 2-3 years. We're obviously in far better shape that those puddle drinkers but I do think we will have to keep an eye on things money wise as well.Quote:
Originally Posted by Stevie Reid
Anyway, cheers for the comments :aok:
Typical of most Hearts fans responses throughout this process of implosion. First step, denial, second step ignore it and hope it goes way ( while flashing 5-1 signs at the hobos), and now finally when theyve been proved wrong, blame the other guy and ignore your own complicity in Believing. My yam colleague was STILL defending Vlad this morning, 'the debt was the same level when the Pieman was in charge, I wouldnt swap the cup wins over youse and Gretna for anything yaddayaddayadda).Quote:
Originally Posted by green glory
Compare and contrast with the Hands Off Hibs campaign, where we pulled together like a family would do, and emerged stronger from the experience. Hearts fans by comparison have been pathetic; Wheres the public demonstrations against Vlad? Wheres the genuine fans led movement? A snivelling Labour MP and a cake sale. Is that it?
If they do go under, the likes of Foulkes, Mackay and the random fan in the street who bought into the charade while being royally rogered from behind,, needs to take as much of the blame as Vlad himself.
Ian Murray Webchat
2nd Question in
12:35
Comment From n1vek
Have you not got anything better to do with your time Ian?
12:35
http://cdnmo.coveritlive.com/media/a...smanCircle.jpg Its lunchtime
If true i'm not sure what difference it makes. Ukio & Ubig will be voting on p in the £ deal. Unless they get the min amount they vote no and take it off the liquidatorsQuote:
Originally Posted by Andy74
No worries mate - given that the amount of money that Hearts bring to the league is a fraction that of what Rangers did, I cannot see it having a devastating effect. It will have an effect of course, but it shouldn't be anything close to insurmountable for the other clubs, especially after overcoming a season without Rangers :aok:Quote:
Originally Posted by McPhisto2
Scottish Westminster mp = waste of space
None of them seem relevant to real life in Scotland any more
12:39
Comment From George
Should a bid succeed how will this happen ? Will scheduled payments be made, the bid underwritten then paid back ? If the former what would happen in case of a default ?
12:41
http://cdnmo.coveritlive.com/media/a...smanCircle.jpg We are working on all these aspects at the moment. A capital sum will be required (although the administration of the club makes this slightly less likely). We will have to capitalise the revenue pledges into a capital sum. In the case of default the normal processes would apply but we are buildin gin strong tolerances to our financial model to ensure it is robust. That is why we have continually said that it is important we ge tthe bid correct. We cannot bid more than we can afford or we will be in the same position than we are at the moment.
It must be about long term financial stability.
The mroe people that pledge the more financially stable we will be and the more we are lilkely to be able to bid.
This is my question , default political word robust.
I can't wait until they start looking to turn pledges into cash only to find that half the pledges are Hibs fans taking the piss :greengrin
UKIO don't get a vote in a CVA.Quote:
Originally Posted by Winston Ingram
Quote:
Originally Posted by Treadstone
I've asked three questions and not one has been put up :rolleyes:
Hearts constant cheating to gain the upper hand in Edinburgh has cost us a lot more supporters than their demise will.Quote:
Originally Posted by McPhisto2