:agree:Quote:
Originally Posted by HibeeMG
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:agree:Quote:
Originally Posted by HibeeMG
Ahh you're right, well remembered ! If I eat Yams does my memory get better ?! :greengrinQuote:
Originally Posted by HibeeMG
Quote:
Originally Posted by Mikey
Well, in that case, I assume some "deferred" wages will be in order to meet PAYE payment day. :greengrinQuote:
Originally Posted by EdinMike
Jackasses, every one of themQuote:
Originally Posted by greenginger
Not really, we've never languished in the second tier in my lifetime - unlike them we've always made it out again after 1 season, and that's the very best they can hope for IMO. However, I think a future where Hibernian are the predominant team in Edinburgh is almost certain - the extent of the dominance is to do with Hibs rather than Hearts.Quote:
Originally Posted by Spike Mandela
I'm seeing their situation now as similar to ours in 1990 - their existence is undoubtedly in the balance and they have virtually no chance of coming out the other end as any real force in Scottish football for at least a decade. Meanwhile I think Hibs have to make the most of this opportunity to become the true third force in Scottish football - sadly, Rangers will inevitably be the second in due course.
It's interesting if the administrator states that the Ukios Bank liabilities exceed its assets by the above amount because of course a banks liabilities are in fact its deposits(repayable to customers)and its assets are its loans(repayable by its customers).It would seem that all is not what it seems-not surprising.Quote:
Originally Posted by WindyMiller
Wow, what a day, I have just realised that pretty much every scenario means tough times for Heart of Midlothian.
Of course the big expenditures definitely out there are :
Main stand compliance costs
Debt rollover or forgiveness
HMRC payments
Sale value of Vlads shares
Hearts supporters seem comfortable that everything is "Barry" but I struggle, due to current circumstances in Lithuania, to see how the shear weight and size of the numbers involved versus the businesses turnover could result in anything other than inevitable liquidation!!!!
Nothing on here makes me think otherwise.
They're the UBIG team after all. No matter UBIG, Hearts - they owe it to themselves. Given the rhetoric concerning Rooomanov's "vanity projects" over the last week I reckon they might edge into "bad" category somehow.Quote:
Originally Posted by Hibee87
The way I see it, we have couple hundred pages and lets be honest no one is wiser to the state of Hearts. I personally think they will come through this now. I've never met a luckier club than them. Always come out smelling of roses. They will get a buyer the debt will end up written off and they will be back to normal but working with a lower wage but prob still enough to attract better players than the rest. Love to be proved wrong though.
How are functioning? If there banks a goner then they will have to transfer to a new bank other wise nothing will get paid. I doubt any bank will give them facilities. Surely not long now.
Unless Ubig are managing to service their debt to Ukio then I imagine they will be put into admin in the next few days. Automatic 18 point deduction for the Yams.Quote:
Originally Posted by lucky
i think they have an account with the bank of scotland as wellQuote:
Originally Posted by lucky
:agree: Same one that (allegedly) helped with the inconvenient matter of financial backing for Whalearse's venture all those years ago (lest we forget).Quote:
Originally Posted by lord bunberry
Does anyone know if they actually paid wages this month? I've heard heehaw either way.
They were also Hibs bankers and were very supportive of the club.Quote:
Originally Posted by Bostonhibby
Quote:
Originally Posted by Geo_1875
There was Banderson's tweet last Friday that the wages had been paid in full, but also the remark by McGoo on Saturday that Serjey had been in the Hearts dressing room before the game v's Killie to thank the players for taking a wage deferral.
Banderson would print anything he was told from the Pink Palace and it was never clarified if the deferral was the one back in December or a new one.
So, none the wiser.
Let's not get ourselves frazled - there is nothing to suggest there is anything other than bad news coming for our dear pink friends.
I want them to feel the pain for the last few years & i fully expect to get the pleasure of feeling tht pain.
They are a slow-motion version of the Titanic; the damage is done & no amount of deck chair shuffling is going to keep them afloat.
They are going down.
GG
I can't see why a property developer would take the place on. OK the location is close the city centre but hardly prime real estate and the bad blood/press generated might actually be harmful to any project. They may encounter hostile public/yam opinion and encounter a hostile council. hearts would have to offer for sale as the only way of saving themselves before I would see a house builder moving in.
A housebuilder would buy and happily bank the land for ten years if need be. By then, it would be just another gap site that the city would be desperate to be developed. Market conditions would likely have improved by then as well.Quote:
Originally Posted by Vini1875
Don't kid your self that this is not desirable land. 6 acres (more if you add the school) close to the city centre.
There will be more than a few interested parties.
I disagree i think the pbs is prime real estate. Cala were prepared to pay upwards of 20m for it 5 years ago so its still going to be worth a few quid now. I would imagine if a property developer were to buy it they would just flatten it and wait till the market picks up before building on the site, this would also allow any tensions with the fans to die downQuote:
Originally Posted by Vini1875
This has been my thoughts too. The other factor (from a developer's point of view), is that no Yams would consider buying a place there. P.S maybe a good few of us would think twice too !!Quote:
Originally Posted by Vini1875
I think the reverse might be true. Lots of hahahahearts fans might want a home there precicely because its on or close to their favourite spot where the stadium used to stand. It could be a great selling point rather than a hinderence. Imagine we had gone belly up in 1990 I think a lot of us might have been tempted for auld times sakeQuote:
Originally Posted by crewetollhibee
Douglas Fraser@BBCDouglsFraserHearts' ground, Tynecastle, may have to be sold as Ukio, its Lithuanian owner's bank, is wound up, local Bloomberg reporter tells
:thumbsup:Quote:
Originally Posted by s.a.m
Its a start........dare I say .................Tick Tock?
May? No **** Mr Bloomberg:rolleyes:Quote:
Originally Posted by s.a.m
:greengrin Not sure it's based on any new info, to be honest, but it's nice to see it dawning on media sorts that Vlad's empire imploding may have awkward implications for Hearts.Quote:
Originally Posted by Benny Brazil
He's taking it from this article.Quote:
Originally Posted by s.a.m
http://www.bloomberg.com/news/2013-0...y-payouts.html
The PBS has been pledged as security against some of the bad assets (loans by Ukio to UBIG).Quote:
The central bank said yesterday it plans to sell Ukio’s assets and liabilities to Siauliu Bankas AB, reducing the obligations for the deposit insurer to an estimated 800 million litai.
The deposit insurance fund would seek to recover its money over time through bankruptcy proceedings for the “bad” part of Ukio’s assets that won’t be taken over by Siauliu, according to Sadzius. “This really is the best of the alternatives we had,” he said.
Yes, I woke up this morning to the radio reporter interviewing a banking expert gentleman from Lithuania who said it was very unclear who owed who and what but was certain Ukio Banks held some form of loan security over Tynecastle.Quote:
Originally Posted by s.a.m
Spring in my step going to work since that means only two things- Full loan has to be honoured or an end if season immediate repayment order because the bank have no funds to roll the lending over.
I must take a moment now because in the absense of any investor with about £35 million arriving in Edinburgh, two outcomes are evident. A 25 year repayment plan ? Or immediate/ end of season administration.
Good luck to Hearts in the cup final, it could be a very long time before they return to challenge the professional ranks again!
The big hoose will stay open the big hoose will stay open the big hoose will stay open (repeat to fade)....Quote:
Originally Posted by s.a.m
If a builder takes over the plot to build flats, will they seek suggestions for street names?
I suggest 'Saville Row' :greengrin
And i feel like this is getting closer http://www.youtube.com/watch?v=oXvJ8UquYooQuote:
Originally Posted by Hibeesforever
Unbelievable, Heid in the sand brigade across the road reckon this is a good thing. Also stating that its nothing new as its always been up for sale, just been over valued by Romanov.Quote:
Originally Posted by s.a.m
They're really struggling to grasp the seriousness of the situation.
What I don't get is, why do they think that any Adminastrators or whoever is taking over Ukio is going to give any consideration to some debt ridden little football club. They'll do whatever is best for the situation in Lithuania and if that means wiping out Hearts, I doubt any Lithuanian Bankers tidying up Romanovs mess are really going to lose too much sleep.
The security was switched from UBIG to Ukio on 11 December. Yams need to ask themselves why this was done. Most likely it was a desperate (now failed) effort by Romanov to prop up Ukio, by strengthening its balance sheet.Quote:
Originally Posted by macca70
Just been looking at Keechback. The general concensus over there seems to be that all debt will be written off, the club will be sold at a knockdown price to any interested party and Hertz will, therefore, come out of this smelling of roses. Head in the sand or what?
Quote:
Originally Posted by Part/Time Supporter
Oh no, that's terrible!:worried:
It's not sand, it's baking powder!Quote:
Originally Posted by Bill Milne
One scenario that appears to have their fans breathing easier today is this:
Relevant Debts:
~£16m - UBIG, unsecured.
£6.8m - Ukio Bankas, secured (via floating charge over Tynecastle, to the tune of £6.8m + all sums that become due between us and UB, including interest and charges)
Ukio Bankas:
Siauliu Bankas seem to think that the Bank of Lithuania are to transfer "the assets, rights, transactions and liabilities" of Ukio to them, "without exceeding the limit as provided in the Republic of Lithuania Law on Insurance of Deposits and Liabilities to Investors." From what I understand, the European Bank for Reconstruction and Development (SB's largest shareholder and seemingly a tool rich capitalist countries use to encourage capitalism in ex-communist countries) are pumping a fair chunk of cash into the bank to allow this to happen. Presumably some of these assets will be declared toxic, and fobbed off on the government. It seems possible (likely?) that the floating charge over Tynecastle will end up with Siauliu Bankas. Totally outwith Vlad's control, and with us owing SB £6.8m + any interest and charges they then see fit to apply. They may well look for instant repayment, but why would they? They'll not get anywhere near £6.8m if they put Hearts into administration.
UBIG:
As of last night, UBIG appear to have absolutely zero to gain from HMFC. Administration (and liquidation) would mean paying someone else to give Siauliu Bankas the proceeds of the sale of Tynecastle and give them nothing (UBIG agreed they "shall not take any steps to enforce the security created pursuant to the Floating Charge..."). Given they can't recoup anything from Tynecastle (they've effectively sold it to UB for £6.8m), HMFC are basically worthless as a genuine asset. So since they have nothing to gain from liquidating the club, it seems like any bid for the club would be preferable to them. i.e. 1p on the £ would be better than the alternatives.
If UBIG themselves were to go into administration, my understanding is, we don't automatically go into administration. Instead, UBIG's administrator would look to get the best value for the Lithuanian tax payer from UBIG's assets. In other words, as explained above, sell us to the highest bidder (leaving Siauliu Bankas' floating charge in place).
Anyone care to tear it to shreds?
Quote:
Originally Posted by Bill Milne
To be fair the debt will be written off one way or another because there is no way that they are able to pay it back. Lets just hope that they go bust first :agree:
It's complete nonsense because the UBIG loans (and associated assets) will not be transferred to the other Lithuanian bank. As explained in the Bloomberg article linked above, the Lithuanian Government is borrowing about £200M to cover the excess of deposits over good loans that will be transferred to the other bank. In turn the Government will need to realise as much as it can from the bad loans to reduce that loss.Quote:
Originally Posted by TrickyNicky
Yep, all good then, hopefully this latest minor inconvenience will go away and the Megasuperhotelstadium will still be built with the money from the Champions League win Blah blah blah.Quote:
Originally Posted by Bill Milne
There will apparently be a rainbow permanently over tiny, the ground itself will be a giant 3D one and all toothless fans will be given free gold teeth, you may doubt this but Mr Romanov owns a bank you know.
Tynecastle will be put up for sale to the highest bidder.
Will that be a property speculator looking to build Flats, Flats, Glorious Flats . . . or someone looking to own Hearts or lease the ground to them?
That's probably 50/50 right now.
Of bigger concern to Jambos at this precise moment should be the fact their club has no money. Like, ZERO cash.
Administration is unavoidable. Liquidation a possibility, depending on how much they owe the taxman.
It's probably 50/50 whether they will find enough cash to see out the season.
Then it will be Fire Sale time for the team and highest bidder gets the club.
No one will step in until administrators are appointed and it is confirmed that Mad Vlad is off the scene for good, cruising towards the Caribbean in his submarine.
My feeling is that there will be a team calling itself Hearts playing next season.
In, at best, SFL1. :agree:
Here is the Good Morning Scotland with the reporter on it. Don't think he really has anything new to say beyond his earlier reports. Starts at 44:20.Quote:
Originally Posted by s.a.m
http://www.bbc.co.uk/iplayer/episode...nd_20_02_2013/
I wonder if the bookies are taking bets on the Yams surviving the season. Probably worse odds than the 14/1 for the much anticipated pandahumps.
Tynecastle Green?Quote:
Originally Posted by EuanH78
For me, what could happen is that the adminstrator/UBIG/UKIO/whoever sell the football club along with Tynie to someone (FOH?) for a symbolic £1 (or maybe even 1€ if they can't raise a quid), on provision that they take on at least some of the debt (£20m?), scheduled to be repaid over 20-25 years, with repayments starting during the close season.
If this was to happen quickly (ie. before UBIG go into administration) they could struggle on to the end of the season with a relatively small cash injection - maybe a couple of million quid to pay wages, the first tax installment, etc.), leaving them to start with a clean slate next season, with their ST money intact, but with a hefty debt to service - though remember Hibs were £16-18m in debt not too long ago.
However, if nothing happens quickly then they're daffied. UBIG will go down the cludgie taking Hearts with them, leading to an automatic points deduction, probable non payment of wages and the first tax installment, further sanctions and every possibilty of Pheonix Merrick FC trying desperately to get into D3 with no ground to call their own, no 3 years of accounts (or none that make sense in any case) and a lot less clout in terms of tv and sponsorship deals than Sevco.
I'm not sure how anything between the 2 scenarios could happen.
I might be totally off-beam, but I'm not sure that anything can be happen ownership-wise due to the ownership/security complexities, and the likelihood that no bidder has yet been given access to the true financial horror of the club.Quote:
Originally Posted by Peevemor
Administration - either by running our of cash or by UBIG being dragged under - now seems the most likely outcome to me.
I doubt Hearts/UBIG/Fedotas will have any say in who buys Hearts/anythingHeartsrelated. If they tried I'm sure the Lithuanian authorities would step in and put the blockers on.
Agreed. I think UBIG's admin or more likely liquidation is inevitable. Best case for HMFC is that UBIG manages to limp as far as the SPL split. I think if the points deduction comes post-split they will still finish 6th. If Massone or the mystery Scandics have a few million to burn then it's just about possible they could be sold complete with Tiny. Hopefully there's at least one developer out there to outbid them and leave them paying rent or homeless.Quote:
Originally Posted by hibs0666
They're not looking particularly good for a top six finish at the moment and an 18 point deduction takes them below Dundee either before the split or in the bottom six.Quote:
Originally Posted by JeMeSouviens
Sorry, I meant to say UBIG limp along and they somehow rouse themselves to a few decent results. Neither condition looking at all likely (shame).Quote:
Originally Posted by Liberal Hibby
If we don't make the top 6 we might get to go to Tiny and relegate them. Now that would be a good day out. :wink:
I can't see them making top 6, and good because if they get that far, finishing in the top 6 would be a little cash injection. But frankly by then, any money coming in would be like King Canute trying to turn back the tide.Quote:
Originally Posted by Liberal Hibby
Pointless.
I'm not sure that is what an administrator is there to do. I can't see them setting up a long term finance agreement.Quote:
Originally Posted by Peevemor
Anyone else get a feeling they will squirm out of all the **** untouched as per usual?
Come on the Lith administrators do your job a wee but faster and get they scarf twirling pricks down the pan!
This.Quote:
Originally Posted by hibs0666
I think its been 20 months since anyone seen their accounts. Anyone who thinks that they are coming out of this unscathed whatever happens is living in cloud cuckoo land.:crazy:
A bank that took on UKIO/UBIG's debts might. Hearts with a turnover of around £8m(?) and a debt of say £15-20m would be a going concern (although they would have to change their wage structure a bit :greengrin) and at least the bank would get some money. Otherwise they'll have to try to sell Tynie at the worst possible time.Quote:
Originally Posted by Ozyhibby
Quote:
Originally Posted by Peevemor
I agree that both of these are the most likely and very probable.
The biggest issue with scenario 1 is finding out how much Hearts' debt level currently is. The last report was c. £22m but that was 20 months ago in their 2011 annual accounts. Nobody has been able to identify how much that has gone up since then. The debt won't have decreased due to all the shenanigans in November etc.
The lack of media attention on this baffles me. They had daily updates on the whole Rangers shambles and i've yet to see an actual news report on how much doodoo hearts are in.
Quote:
Originally Posted by Ozyhibby
It wouldn't be the administrator that would set up the long term finance agreement. It would be the owner of the UKIO bankas "asset", which in this case is Hearts' debt.
With all the debt for equity stuff, they must be into UBIG for £50-60m!Quote:
Originally Posted by MacBean
lifted this from the Savilles....
The following has been cut and pasted directly from parts of the recent share issue prospectus.
'Now, after more than seven years since the original purchase of Heart of Midlothian plc by UAB Ukio Banko Investicine Grupe (UBIG), the majority shareholder of the Company, Hearts supporters and others are being offered the first chance since 2005 to potentially step towards a supporter-owned football club.
The Company’s balance sheet is negative and the Company would be insolvent (on the basis of being unable to pay its debts as they fall due) without the ongoing support of UBIG or alternative funding.Whilst the Company has short-term comfort from UBIG that it will not call up its debt, there is no guarantee that UBIG will not do so in the future, although the Board takes comfort from the fact that UBIG has supported the Club from 2006 to date by funding and debt restructuring.
As at the 30th of June 2011 the amount due to the parent company, UAB Ukio Banko Investicine Grupe, was £22,413,000, which amount bears interest at 4.5%. UAB Ukio Banko Investicine Grupe have confirmed to the Directors of Heart of Midlothian plc. that they will not seek repayment of this amount during season 2012/2013 and at the 1st July 2013 the position will be reassessed. The balance due to UAB Ukio Banko Investicine Grupe is secured by a standard security over Tynecastle stadium and a floating charge across the company’s assets. If UBIG were to demand repayment of the full amount, the Company would be insolvent and would face liquidation.
Whilst UBIG has expressed a current intention to explore the possibility of allowing the club’s supporters the opportunity to acquire over time a majority stake in the Company’s share capital and has positioned the current offer as the first step towards that possibility, there is no commitment on the part of UBIG to continue with this current intention and the Company’s debt levels are such that further debt capitalisations may be required in the future, which would have the effect of significantly diluting the other shareholders’ interests in the Company. For so long as UBIG owns or controls more than 75% of the Company’s share capital, it will be able to pass the resolutions required to effect any such debt capitalisation.
The Company is largely owned and absolutely controlled by UBIG and will continue to be controlled by UBIG for so long as it owns more than 50% of the Company’s share capital. Unlike directors, who owe certain duties to the shareholders of the Company, UBIG does not and can largely act out of self-interest at any time, although the Board takes comfort from the fact that UBIG has supported the Club from 2006 to date by funding and debt restructuring.
So the Savilles OWN documents show things could be a wee bit shaky for them..... and for UBIG, read Lith Central bank/Lith Administrators if UBIG goes tits up
:cb
Great find :aok:Quote:
Originally Posted by Sir Alf R
Agricultural Bank of healthy assets and liabilities will attempt to pass Siauliai bank and bad bank liabilities to leave BANKRUPTCY. It is stated that the Bank would transfer all insured deposits and borrowed a healthy bank assets. Successful conclusion of the negotiations in Siauliai Bank of Economy Bank should take over not only the 2.7 billion. £ value of the insured deposits, but also the value of loans. The problem is that the economic value of the bank such as good credit is probably not as many of them have been issued with Vladimir Romanov-related businesses. Missing part of the good loans (600-800 million. Dollars) will cover the SE Deposit and Investment Insurance, writes "Business News". According to the Bank Finasta analyst Thaddeus Poviliauskas theory Šiauliai Economy Bank for the good of the bank to pay anything, because how will the assets and assume the same obligations. However, analysts said the bank takes over Siauliai Farm Bank customers have secured market share and expand the geography of activities, so some sort of amount for foreclosed assets are likely to pay. T. Povilauskas think that the price can range from a symbolic LTL to higher amounts which would have covered the depositable assets. Agricultural Bank of temporary administrator and Siauliai bank negotiations for property acquisition is expected to close this week.
Another day another page, more boring stories about the bank and still yet not a peep from any area of the media except FOH statements which mean nothing.
Closure of this thread long overdue, maybe admins waiting for a million views then pull the plug perhaps?
On what grounds?Quote:
Originally Posted by HIBERNIAN-0762
Boring? It's just getting interesting.Quote:
Originally Posted by HIBERNIAN-0762
In any case, you don't have to read it. :bye:
FfsQuote:
Originally Posted by HIBERNIAN-0762
nah, think we will keep it going just a little bit longer. If that is OK with you that is?Quote:
Originally Posted by HIBERNIAN-0762
If it is not OK with you, do one and stop reading it. :wink:
Away and bile yer heid.Quote:
Originally Posted by HIBERNIAN-0762
Why do you want a peep from the media? Judging by their performance through Hunmageddon, they're the last place you should look for news. :rolleyes:Quote:
Originally Posted by HIBERNIAN-0762
I like it to be honest, it cheers me up when I'm a tad down in spirits.Quote:
Originally Posted by HIBERNIAN-0762
Once they have ceased to exist (Monty Python classic) IMO is the time to close it.
Until then keep up the fine work, your all doing very well (young Mr. Grace in Are You Being Served).
skidd row?Quote:
Originally Posted by depor hibs
I take comfort from posts like this.Quote:
Originally Posted by Sir Alf R
We're all frustrated this is taking so long but patience is needed here. Not long now, stick in there, it will be worth it.Quote:
Originally Posted by HIBERNIAN-0762
I enjoy a good read of this page,Quote:
Originally Posted by scoopyboy
if he don't like it don't read it!
Heres an alternative option involving Hearts demise, this would appear to be the prime time for someone to come along and snap up both Edinburgh clubs and establish The Capital as a one club city playing at ER. Maybe all this infrastructure was put in place for a reason!
Surprised its not been tried before if I'm honest! ;-)
Absolutely delighted that our succulent lamb media clowns are staying schtum on recent developements. If they were commenting, it would only be pro HoMFC waffle, as it is in their long term interests to protect them and keep them as intact as long as possible. If, Hibernian 0762, you are bored with the thread, take a break and we'll call you when the real party starts. :greengrinQuote:
Originally Posted by HIBERNIAN-0762
I dunno why but I find myself writing a parody of Green Days "Wake Me Up When September Ends"... Work in process !
"Vlads reign has come and passed
The cheating **** will never last
Wake me up when Tynecastle ends
Like your main stand it's in the past
Seven years has gone so fast
Wake me up when Tynecastle ends.."
Surely Good Riddance would be more appropriate? :confused::greengrinQuote:
Originally Posted by EdinMike
Jamie Borthwick says it will be on STV site in an hour (that was at 1:15pm) and says the quotes are better than the ones on Good Morning Scotland.Quote:
Originally Posted by southfieldhibby
https://twitter.com/jamiekborthwick
I'm feeling 99% enjoyment of this thread. If you don't want to read it, just stay away. Why should you dictate what makes a story? Bear in mind that I've worked at numerous papers and you're setting yourself up as THE editor with silly comments like this.Quote:
Originally Posted by HIBERNIAN-0762
You're not the editor, you're not a moderator, so just leave the rest of us to it, please.
Just out of interest - can someone confirm it's a 10 point deduction for administration and not 18 I have seen posted several times.
What are the chances of the yams going into administration ?
As I see it Vlad's empire has crumbled in a big way and he doesn't have the back up he used to have to shift money sources.
They are still stuck with players they can't afford - however keep bringing loans in ?:confused:
Debt free or not they still have a major problem with the stadium - the old stand - the current stands maintenance and no money to build anything let alone replace the main stand.
They are losing Zaliukas / Grainger (end of contracts) and probably Webster and Novikovas. Ngoo and Wilson won't be around next season either.
They may win the cup final but bottom 6 would really hurt them so lets hope they end up there as the fans won't be interested in meaningless games (meaning less money for the club) with Dundee looking like they will go down.
Next season will be interesting to see their team and what state the club will be in - surely their luck has run out ?
with driver leaving they will probably bring in another player who is a free agent
Not sure Scenario 1 works Peeve. What it boils down to is the administrator or buying bank (per your later post) giving the buyers of HoMFC a long-term loan/mortgage to buy and operate the club. That would have to be either unsecured or secured on Tynie which is nowhere near the value of the loan you're suggesting. Ukio's administrator can't do that because the bank's licence has been revoked and it would be a huge risk for the buying bank to offer that sort of facility to a club that hasn't made a profit since Grampa was a lad. I would also maintain that the assigned security is a block on any undervalue sale of the club or tynie for as long as UBIG remain solvent. From the buyer's point of view they would be better waiting for a liquidation/administration sale to pick up the assets at sale value and then take a bank loan to pay for it if they could get one.Quote:
Originally Posted by Peevemor
Funnily enough there's no guarantee that a newco would go into D3 either - IIRC the decision on that change to the rules was that each case would be decided on its merits so it's possible that a Newyam could be voted into the SPL. Annoying in one respect, but the bleating and whining from Govan would be priceless.
Definitely 18 points. It's 1/3 of the previous season's points total, rounded up. They finished with 52 points last season.
A third of your previous seasons points rounded up or 10pts whichever is greater. 2011-2012 52pts.Quote:
Originally Posted by NJ Hibee
How many were Oldco deducted ?Quote:
Originally Posted by Mikey
Hmm interesting idea. A future all Edinburgh club, playing at Easter Road you say?Quote:
Originally Posted by HUTCHYHIBBY
I vote we call said club Hibernian.
10 points.Quote:
Originally Posted by NJ Hibee
Quote:
Originally Posted by NJ Hibee
That was under the old rules. They were changed as a result of Rangers' demise.Quote:
Originally Posted by Stevie Reid
http://www.bbc.co.uk/sport/0/football/18263819
10 but new rules in place.Quote:
Originally Posted by NJ Hibee
10, but the latest rules came into effect at the end of last season so they missed the 1/3 of points impact. Null and void now anywyaQuote:
Originally Posted by NJ Hibee
These rules were implemented after Oldco. They were deducted 10pts. SFA took their lead on this from England on the 10 point penalties. The 10 point deduction as has been seen in England is no deterrent whatsoever, in my view and not just because of the Yams but 25pts would be viewed differently. Currently in England you see teams choosing when they want to go in administration, its an absolute joke.Quote:
Originally Posted by NJ Hibee
http://news.bbc.co.uk/sport1/hi/foot...ed/6625751.stm
Can't. Was only loans.Quote:
Originally Posted by Gooner Hibby
Thanks for the info. :aok:
If they were going to build Maisonettes, then I suppose it could be (Heart)ache Avenue. No ? I'll get my coat......Quote:
Originally Posted by HUTCHYHIBBY
Because Mr Cropley you know it and I know it they ain't getting shut down, their ability to squirm their way out of anything legal is legendary, I don't see the point in harping on about it, just lets wait and see what really happens instead of this boooooring speculationQuote:
Originally Posted by CropleyWasGod
:wink:
OK Jim, will doQuote:
Originally Posted by Jim44
Make me!Quote:
Originally Posted by Puzzle
That's the sort of logic hearts have been using for years. Eventually it was always going to catch up on them and it finally hasQuote:
Originally Posted by HIBERNIAN-0762
07-62
For someone who according to the poll "doesn't care about them" you are really getting your knickers in a twist. If you don't care don't post or are you attention seeking? (Mummy not love you?)
BTW Maybe you should have chosen the other option of Hearts will survive.......................
I don't know that at all. If I did, then I would be in a different profession, and I certainly wouldn't be contributing to this thread. I doubt whether you "know" it either.Quote:
Originally Posted by HIBERNIAN-0762
The speculation, backed up by (hopefully informed) analysis, is one of the fascinating aspects for me. However, I understand that some may find it boring. This thread is therefore not for them.
I think they can. Anyone under 10 k a week and under 21.Quote:
Originally Posted by Russell The Dug
Saville Row surely?Quote:
Originally Posted by HUTCHYHIBBY
Having read this and watched the video in the link not a lot that is new here, although a suggestion of weeks to get real clarity in the situation.
http://sport.stv.tv/football/clubs/hearts/214751-hearts-takeover-could-be-accelerated-by-collapse-of-ukio-bankas/
Wrong thread! Try posting here Positive SlantQuote:
Originally Posted by HIBERNIAN-0762
Don't forget to change your login.