I would rather drop the club with the next worse set of accounts, whoever they might be. :greengrinQuote:
Originally Posted by GodWasCropley
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I would rather drop the club with the next worse set of accounts, whoever they might be. :greengrinQuote:
Originally Posted by GodWasCropley
I'm not best placed to answer that one - but I'd reckon liquidation at the earliest/most opportune time.Quote:
Originally Posted by bingo70
The MSM seem to think that this is simply a cut-and-dry case between Scotland and Lithuania, however, there are creditors, both private and public throughout Europe and further afar that will have a say, From Bosnia, Ukraine, Belarus, Sweden...the list is endless - these creditors are all part of the UBIG insolvency, and getting them to agree to a paltry penny in the £ settlement simply isn't going to happen overnight. Plus, UBIG are under criminal investigation - what the **** are prospective bidders for Hearts getting themselves into in the medium/long term?
I may have missed the question elsewhere but I note Dunfermline have a £150k bond due if they are still around. What's this about and is there such a requirement for HMFC?
:faf:Quote:
Originally Posted by happyhibbie
Keep reading this quote and each time it seems to get better and better
The administrator in charge of Ukio Bankas, Gintaras Adomonis, said: "I can repeat that we are doing everything we can to save the club functioning.
"However, I am obliged to protect solely the interests of Ukio Bankas and its creditors.
"If no feasible offer with terms and conditions acceptable to Ukio Bankas creditors is achieved, Ukio Bankas will remain with the only solution - liquidation of Hearts of Midlothian Plc and enforcement of the standard security over Tynecastle stadium."
BDO would start the process of liquidation.Quote:
Originally Posted by bingo70
Also, the undertaker is now going to great lengths to reinforce he always said liquidation was a possibility. From his verbal & body language today I think he's about to say, well we gave it our best shot but the ba's bust!Quote:
Originally Posted by desantos0773
this will cheer me up, hurry up Thursday :agree:
That will hold no water on brokeback they just make up what they want to hear. As Mikey said earlier their thread on the issue is "Not looking too good". They need a 'chewin' the fat' Rab McGlinchey interpreting for the yams.Quote:
Originally Posted by LongshanksED
"We gave you a chance, your offers were laughable, we've wasted enough time you're rooked. Now beat it and see if City park is available"
Quote:
Originally Posted by brog
This.:agree:
That for me is the elephant in the room. If any bidder offers 5.9 mil and the Liths can get 6 mil via liquidation then liquidation it is. If the Liths have done their homework then they'll know exactly what amount liquidation will pull in. Bye bye Jam Tarts.Quote:
Originally Posted by LongshanksED
I think there may be less money sloshing around than we think. BDO confirmed all the income from the first 7,000 season ticket sales has gone. I believe a high percentage of the extra 3,000 were reduced price, I doubt they brought in £0.5mm. They're paying wages again, need to pay VAT & PAYE & their providers who've already been stiffed are now going to want paid up front. I think though they may be pragmatic & think there's no point in chasing their tail, ie losing more money & just give up the ghost while they actually have some money left.Quote:
Originally Posted by Sergey
Stop it!!!! I'm quite moist!!!!Quote:
Originally Posted by CropleyWasGod
If I remember rightly, the sale of the club and assets were advertised nationally? If this were the case then their may have been "unofficial enquiries" regarding the "assets" part of the sale.Quote:
Originally Posted by Hiberlin
If I was asked to sum up the period 1980-2013 in yam land I would choose thisQuote:
Originally Posted by happyhibbie
letters will be posted in the morning to the ukio administrator to remind him that we are watching his every move i will remind him he acts in best interest of creditors My letter campaign will reep dividends.Quote:
Originally Posted by desantos0773
... ***ake he's an expert in Lith Law as well.Quote:
Originally Posted by sidneyhibbie
:not worth
I think you can stand down Crops. There is a new show in town :agree:Quote:
Originally Posted by CropleyWasGod
Go get em Sindey, extermination is the only option :thumbsup:Quote:
Originally Posted by sidneyhibbie
@MattMcGlone9: A trusted London city source tells me 75% chance Hearts will be liquidated.All recent S/B sales null/void. SPFL left with 11 teams! #problem
Wen wun has hud wun's day, wun must stan doun.Quote:
Originally Posted by DaveF
:agree: Sadly, the grim reeper comes for us all...............Quote:
Originally Posted by CropleyWasGod
Sidney likes this news :aok:Quote:
Originally Posted by green glory
Never had the energy or time to read all this thread but find it interesting to read as a Hibby and someone who tries to run a business ( albeit one without 400,000 clients ) . Comments from financial experts here seem sincere and accurate ( I`m no expert ) . I never read Hearts`boards but suppose they have the odd financial expert ( odd as in occasional instead of strange though also that ) - giving opinions and predictions . Do their opinions match those of experts here ? Never read a heated debate here about our own financial situation involving financial experts - is this just because things are under control though not rosy or because we manage to survive without causing controversy or risking massive losses ?
I think that "wow" tweet sums up what will be a stunned reaction of an overconfident, ignorant and complacent yam mob who never believed for a second it would actually, finally come to this. When the day arrives, expect lengthy news footage of clusters of yams gathering outside the pink bus shelter with lots of tears, shots of wee bairns holding out 20p pieces with greeting fans around them saying "bless his wee soul", a lot of nonsense statements, anger and claims to the cameras about who was responsible (everyone but themselves) and whimpering "emotional appeals" from 13 year old lassies in dirty pink scarves trying to get noticed on television. The irony of them all protesting outside their beloved asbestos shed a few years too late will be lost on each and every one of them.
Franck Sauzee must be getting worried as Sidney is catching him in my hero stakes Haha
It is quoted in this linkQuote:
Originally Posted by Simkin911
http://www.bbc.co.uk/sport/0/football/23494323
Dunfermline received a 15-point penalty for going into administration last season, when they were relegated from Division One - now the Championship - after a play-off final defeat by Alloa Athletic.
Another 10-point penalty for the forthcoming season - and a £150,000 bond payable to the Scottish Football Association - will be incurred should they fail to agree a CVA by 2 August.
I would imagine that a similar penalty could be imposed on HOMFC when they appear on 1st August, if they haven't agreed a CVA by the start of the season.
GGTTH
What if FoH throw all the cash they seem to have at the Liths, i.e. the 2 amounts they had for the cva and the amount set aside as working capital just to make sure they got control of the club.
They then have the club but sod all to run it with, would they be able to make it work with this scenario?
:fenlonQuote:
Originally Posted by LongshanksED
Don't think BDO would accept that. They have to try and rescue the company as a going concern. Having no working capital would prevent that.Quote:
Originally Posted by YehButNoBut