Share Transfers Agreed/Cooling off period

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30-07-2013, 10:01 AM
ballengeich

Quote:

Originally Posted by clerriehibs

T
Surely the Lithuanians have months of untangling the UKIO/UBIG mess?

They may be tempted to postpone the recovery of this paltry amount if homfc can claim to expect a full season of trading, in the hope another, better suitor comes along?

That sounds quite possible. It'll take years rather than months to untangle Vlad's legacy - the paperwork may not be entirely intact.

Bathgate's piece in the Scotsman seemed to be based on a view that the Lithuanian administrators would be looking for a quick resolution of Hearts' affairs. I don't see why given the scale of their other work.

They could even leave Tynecastle empty if they don't like the offers. Without continual maintenance, I don't think it would be that long before the cost of structural repairs would make continued use as a football stadium impractical, meaning that any council attempts to aid Hearts by blocking redevelopment for other purposes would become pointless. After a short period of neglect the regular appearance of wind-blown lumps of asbestos and stand roof in Gorgie Road would lead to demands for some nice modern flats to be built.
30-07-2013, 10:06 AM
s.a.m

Quote:

Originally Posted by ballengeich

That sounds quite possible. It'll take years rather than months to untangle Vlad's legacy - the paperwork may not be entirely intact.

Bathgate's piece in the Scotsman seemed to be based on a view that the Lithuanian administrators would be looking for a quick resolution of Hearts' affairs. I don't see why given the scale of their other work.

They could even leave Tynecastle empty if they don't like the offers. Without continual maintenance, I don't think it would be that long before the cost of structural repairs would make continued use as a football stadium impractical, meaning that any council attempts to aid Hearts by blocking redevelopment for other purposes would become pointless. After a short period of neglect the regular appearance of wind-blown lumps of asbestos and stand roof in Gorgie Road would lead to demands for some nice modern flats to be built.

:dunno: But who would run them in the meantime? BDO would be prohibitively expensive, wouldn't they?

Edit: quoted wrong post......should have been Clerrie Hibs one about them limping along in the meantime, while the Liths dither.
30-07-2013, 10:12 AM
ScottB

Surely the Liths will move sooner rather than later? Leaving them in admin just increases the amount due to BDO and reduces what they will get?
30-07-2013, 10:20 AM
CropleyWasGod

Quote:

Originally Posted by Bajillions

Sat at my desk with a cup of coffee catching up on this thread.

*Clicks above link*

"Football finance expert Neil Patey..."

*Immediately closes tab*

You can be such a bitch.
30-07-2013, 10:26 AM
robinp

Quote:

Originally Posted by CropleyWasGod

You can be such a bitch.

I was thinking the same as Bajillions, the boy Patey is a windbag, as the Rangers fallout showed.
30-07-2013, 10:29 AM
Phil D. Rolls

Quote:

Originally Posted by Heisenberg

According to #allisbarry Massone hasn't given any proof of funding yet...

Event : Massone has no money.
30-07-2013, 10:29 AM
robinp

Quote:

Originally Posted by ScottB

Surely the Liths will move sooner rather than later? Leaving them in admin just increases the amount due to BDO and reduces what they will get?

BDO may have agreed a fixed fee or a % of sale price as a fee.

Wgere i work, although not a big 4 IP firm/accountants, the bank instructed admins/liquidations I have worked on commonly are fixed fee, and you effectively tender for the work.
30-07-2013, 10:31 AM
CropleyWasGod

Quote:

Originally Posted by Filled Rolls

Event : Massone has no money.

Barry:- FOH in line to take over Hearts.
30-07-2013, 10:35 AM
Sanger

Quote:

Originally Posted by ScottB

Surely the Liths will move sooner rather than later? Leaving them in admin just increases the amount due to BDO and reduces what they will get?

they can put the proceeds in trust until Romanov web untangled.

Quote:

Originally Posted by Filled Rolls

Would that mean that Newyam would have a place to play until it is sold? Maybe even rent free, as a goodwill gesture.

All they'd have to do is pay maintenance of the stadium to meet safety requirements, council tax etc.....oh, wait.

Is this right?

The figure I have seen is £200m for the bailout of Ukio
30-07-2013, 10:38 AM
#FromTheCapital

Evening News Sport ‏@edinburghsport3mHearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk

Former chairman George Foulkes said the blanket brush-off was akin to “horse trading” and warned that driving the club to extinction was a dysfunctional financial gamble.
He said: “I’m a big fan of Dad’s Army and as Lance- Corporal Jones would say ‘Don’t panic!’. We are not at the stage of Private Fraser’s ‘We’re doomed’ and in my view this is all part of normal negotiating procedure.
“It’s the Foundation and the Massone bid which the Lithuanian administrators are using to try to get as much as they can out of the administration process. Now is the time for more people to come in and back the Foundation of Hearts.
“If there is a gap between what the Lithuanian administrator wants and what’s been offered, the Foundation will be more able to bridge that gap if more people get involved.”
He added: “The one thing the administrators have to realise is that if the club goes into liquidation they won’t get more, they will get less.
“The only people who can make profitable use of the asset is the football club. It’s not like the old situation [in 2004] when Cala Homes were willing to pay a huge amount of money to build flats.
“The property market has collapsed and the number of empty properties in Edinburgh enormous. There is an availability of land, particularly around Fountainbridge where you can find acres and acres of empty space, so liquidation will be a fire sale and is going to make less. They are better selling it as a going concern.”

:faf::faf::faf::faf: Foulkes ya ****in roaster
30-07-2013, 10:44 AM
Sylar

Quote:

Originally Posted by #FromTheCapital

Evening News Sport ‏@edinburghsport3mHearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk

Former chairman George Foulkes said the blanket brush-off was akin to “horse trading” and warned that driving the club to extinction was a dysfunctional financial gamble.
He said: “I’m a big fan of Dad’s Army and as Lance- Corporal Jones would say ‘Don’t panic!’. We are not at the stage of Private Fraser’s ‘We’re doomed’ and in my view this is all part of normal negotiating procedure.
“It’s the Foundation and the Massone bid which the Lithuanian administrators are using to try to get as much as they can out of the administration process. Now is the time for more people to come in and back the Foundation of Hearts.
“If there is a gap between what the Lithuanian administrator wants and what’s been offered, the Foundation will be more able to bridge that gap if more people get involved.”
He added: “The one thing the administrators have to realise is that if the club goes into liquidation they won’t get more, they will get less.
“The only people who can make profitable use of the asset is the football club. It’s not like the old situation [in 2004] when Cala Homes were willing to pay a huge amount of money to build flats.
“The property market has collapsed and the number of empty properties in Edinburgh enormous. There is an availability of land, particularly around Fountainbridge where you can find acres and acres of empty space, so liquidation will be a fire sale and is going to make less. They are better selling it as a going concern.”

:faf::faf::faf::faf: Foulkes ya ****in roaster

How in the name of **** did that halfwit get a peerage?!

:dunno:
30-07-2013, 10:47 AM
Phil D. Rolls

Quote:

Originally Posted by #FromTheCapital

Evening News Sport ‏@edinburghsport3mHearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk

Former chairman George Foulkes said the blanket brush-off was akin to “horse trading” and warned that driving the club to extinction was a dysfunctional financial gamble.
He said: “I’m a big fan of Dad’s Army and as Lance- Corporal Jones would say ‘Don’t panic!’. We are not at the stage of Private Fraser’s ‘We’re doomed’ and in my view this is all part of normal negotiating procedure.
“It’s the Foundation and the Massone bid which the Lithuanian administrators are using to try to get as much as they can out of the administration process. Now is the time for more people to come in and back the Foundation of Hearts.
“If there is a gap between what the Lithuanian administrator wants and what’s been offered, the Foundation will be more able to bridge that gap if more people get involved.”
He added: “The one thing the administrators have to realise is that if the club goes into liquidation they won’t get more, they will get less.
“The only people who can make profitable use of the asset is the football club. It’s not like the old situation [in 2004] when Cala Homes were willing to pay a huge amount of money to build flats.
“The property market has collapsed and the number of empty properties in Edinburgh enormous. There is an availability of land, particularly around Fountainbridge where you can find acres and acres of empty space, so liquidation will be a fire sale and is going to make less. They are better selling it as a going concern.”

:faf::faf::faf::faf: Foulkes ya ****in roaster

He's a stupid boy. He actually reminds me of a combination of Hodges and Mr. Yateman the verger. Both officious minor characters on the edge of a circus that won't listen to them, or let them participate.

Just waiting for Fuggup to tell the Lith ambassador his booking for a tea dance at the village hall is now no longer guaranteed.

Quote:

Originally Posted by The Story So Far...

How in the name of **** did that halfwit get a peerage?!

:dunno:

To make the rest of them look intelligent?
30-07-2013, 10:47 AM
lapsedhibee

Quote:

Originally Posted by #FromTheCapital

:faf::faf::faf::faf: Foulkes ya ****in roaster

:agree:

How many acres does the Wongadome site take up? I see that the completely independent council report estimated 12-16 acres for a new stadium site, but can't find any reference to the existing size. Befittingly big, obviously, but how big approximately? :dunno:

Quote:

Originally Posted by The Story So Far...

How in the name of **** did that halfwit get a peerage?!

:dunno:

Services to the dry cleaning industry. The amount of drool, slaver, etc, that he's produced, single-handedly, over the years will have kept untold hordes in continuous employment.
30-07-2013, 10:48 AM
Liberal Hibby

Quote:

Originally Posted by #FromTheCapital

Evening News Sport ‏@edinburghsport3mHearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk

particularly around Fountainbridge where you can find acres and acres of empty space, ”

:faf::faf::faf::faf: Foulkes ya ****in roaster

Yeh - between your ears!
30-07-2013, 10:51 AM
Geo_1875

Love the picture on the EEN story with the title "Neil Patey is a football finance expert."

Says who?
30-07-2013, 10:52 AM
Treadstone

Quote:

Originally Posted by Bajillions

Sat at my desk with a cup of coffee catching up on this thread.

*Clicks above link*

"Football finance expert Neil Patey..."

*Immediately closes tab*

:agree:

Quote:

Q What happens if Hearts enter liquidation?
A For Hearts to continue to exist, you would need a buyer to come along who was happy to set up a newco, buy the assets and apply for membership to League Two.

Patey has called it, League Two it is then. He should advise the SPFL because as yet there is no clarity on this. :cb
30-07-2013, 10:59 AM
Sanger

Hearts will be allowed tom soldier in

Quote:

Originally Posted by Treadstone

:agree:

Patey has called it, League Two it is then. He should advise the SPFL because as yet there is no clarity on this. :cb

Going by the press reports the SPFL will just let Hearts soldier on, not asking for their ability to trade for the whole season, and if they are liquidated after the season has started will declare all their results null and void and have a league of 11.
30-07-2013, 11:01 AM
Phil D. Rolls

Quote:

Originally Posted by desantos0773

Going by the press reports the SPFL will just let Hearts soldier on, not asking for their ability to trade for the whole season, and if they are liquidated after the season has started will declare all their results null and void and have a league of 11.

So, basically, move along nothing to see here?
30-07-2013, 11:01 AM
Gettin' Auld

1 Attachment(s)

Keep believing ya pish stained jakey.

Attachment 10732
30-07-2013, 11:08 AM
Keith_M

Quote:

Originally Posted by desantos0773

Going by the press reports the SPFL will just let Hearts soldier on, not asking for their ability to trade for the whole season, and if they are liquidated after the season has started will declare all their results null and void and have a league of 11.

Exactly, the interview with Donkeycaster was just how I imagined it. Nothing bad has happened and everything will be OK.

"All we can do is continue to monitor the situation" (English: Flucked if I know!)

With leaders of such intelligence and forethought, our game is in good hands indeed.
30-07-2013, 11:21 AM
Springbank

Quote:

Originally Posted by lapsedhibee

:agree:

How many acres does the Wongadome site take up? I see that the completely independent council report estimated 12-16 acres for a new stadium site, but can't find any reference to the existing size. Befittingly big, obviously, but how big approximately? :dunno:

You couldn't make this up (it was tweeted by @twistedtartan round new year) the area of tynecastle is 0.7 ha

Easter road is much bigger as befits the stadium in the capital with the record attendance (while we're on the subject of size)
30-07-2013, 11:24 AM
LeithBoozy

I still don't fully understand, If Locke gets found not guilty. They are self sufficient and only owe it to themselves. What does all this talk about creditors and liquidation mean. :confused:
30-07-2013, 11:27 AM
Springbank

Quote:

Originally Posted by #FromTheCapital

Evening News Sport ‏@edinburghsport3mHearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk

Former chairman George Foulkes said the blanket brush-off was akin to “horse trading” and warned that driving the club to extinction was a dysfunctional financial gamble.
He said: “I’m a big fan of Dad’s Army and as Lance- Corporal Jones would say ‘Don’t panic!’. We are not at the stage of Private Fraser’s ‘We’re doomed’ and in my view this is all part of normal negotiating procedure.
“It’s the Foundation and the Massone bid which the Lithuanian administrators are using to try to get as much as they can out of the administration process. Now is the time for more people to come in and back the Foundation of Hearts.
“If there is a gap between what the Lithuanian administrator wants and what’s been offered, the Foundation will be more able to bridge that gap if more people get involved.”
He added: “The one thing the administrators have to realise is that if the club goes into liquidation they won’t get more, they will get less.
“The only people who can make profitable use of the asset is the football club. It’s not like the old situation [in 2004] when Cala Homes were willing to pay a huge amount of money to build flats.
“The property market has collapsed and the number of empty properties in Edinburgh enormous. There is an availability of land, particularly around Fountainbridge where you can find acres and acres of empty space, so liquidation will be a fire sale and is going to make less. They are better selling it as a going concern.”

:faf::faf::faf::faf: Foulkes ya ****in roaster

Just as well Lord Foulkes isn't an advisor to any serious property developers

They may gently point out to him that while land sold at the peak of the market is still financially stuck (the old tartan club site for example) you'll find dozens of examples in Edinburgh (sometimes right next door to stalled sites) where land deals are going through and construction is not far off 2006 levels in Edinburgh.

Where are these?

Try fountainbridge (former brewery site) student housing
Try fairmilehead - 277 homes
Try kirkliston - village doubling in size
Try murrayfield - old s&n hq
Try the lochend butterfly behind ER - lots underway and nearing completion

What do they have in common - land deals since 2010 where there is huge appetite fit land in Edinburgh if it is priced sensibly
30-07-2013, 11:32 AM
Hibernia&Alba

Quote:

Originally Posted by #FromTheCapital

Evening News Sport ‏@edinburghsport3mHearts fans refuse to give up fight for club as takeover bid is rejected http://bit.ly/1bEOYZk

Former chairman George Foulkes said the blanket brush-off was akin to “horse trading” and warned that driving the club to extinction was a dysfunctional financial gamble.
He said: “I’m a big fan of Dad’s Army and as Lance- Corporal Jones would say ‘Don’t panic!’. We are not at the stage of Private Fraser’s ‘We’re doomed’ and in my view this is all part of normal negotiating procedure.
“It’s the Foundation and the Massone bid which the Lithuanian administrators are using to try to get as much as they can out of the administration process. Now is the time for more people to come in and back the Foundation of Hearts.
“If there is a gap between what the Lithuanian administrator wants and what’s been offered, the Foundation will be more able to bridge that gap if more people get involved.”
He added: “The one thing the administrators have to realise is that if the club goes into liquidation they won’t get more, they will get less.
“The only people who can make profitable use of the asset is the football club. It’s not like the old situation [in 2004] when Cala Homes were willing to pay a huge amount of money to build flats.
“The property market has collapsed and the number of empty properties in Edinburgh enormous. There is an availability of land, particularly around Fountainbridge where you can find acres and acres of empty space, so liquidation will be a fire sale and is going to make less. They are better selling it as a going concern.”

:faf::faf::faf::faf: Foulkes ya ****in roaster

Auld pishy troosers has had a complete mental collapse because of all this. Reduced to wandering around Edinburgh mumbling to himself, carrying a Farmfoods carrier bag and drinking spirits at bus stops, telling strangers he used to be somebody important. Tragic. :lolyam:
30-07-2013, 11:34 AM
clerriehibs

Quote:

Originally Posted by The Story So Far...

How in the name of **** did that halfwit get a peerage?!

:dunno:

It was actually an angry piss, ie pee rage.
30-07-2013, 11:36 AM
lapsedhibee

Quote:

Originally Posted by Springbank

You couldn't make this up (it was tweeted by @twistedtartan round new year) the area of tynecastle is 0.7 ha

Easter road is much bigger as befits the stadium in the capital with the record attendance (while we're on the subject of size)

0.7 ha is the size of the pitch, I guess, but what about the asbestos sheds and that? :dunno:
30-07-2013, 11:39 AM
Sergio sledge

Quote:

Originally Posted by Springbank

You couldn't make this up (it was tweeted by @twistedtartan round new year) the area of tynecastle is 0.7 ha

Easter road is much bigger as befits the stadium in the capital with the record attendance (while we're on the subject of size)

That'll be the size of the pitch, that's about 70m x 100m. Including stands etc, it'll be bigger than that.
30-07-2013, 11:39 AM
Springbank

Quote:

Originally Posted by lapsedhibee

0.7 ha is the size of the pitch, I guess, but what about the asbestos sheds and that? :dunno:

Agh spot on

ER is 0.85ha for the pitch

No info on land take of the remainder im afraid
30-07-2013, 11:40 AM
Hibernia&Alba

Quote:

Originally Posted by Sergio sledge

That'll be the size of the pitch, that's about 70m x 100m. Including stands etc, it'll be bigger than that.

Not for long :greengrin
30-07-2013, 11:41 AM
clerriehibs

Quote:

Originally Posted by Ozyhibby

http://m.scotsman.com/sport/football...real-1-3020961

A warning to the Lithuanians.

Is the photo attached to that story a photo-shop, a coincidence or a f&%ing brlliant hibee wind-up?!?!?

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