Quote:
Originally Posted by DaveF
I think the Fat Balloon may be confusing Tax Avoidance - legal - with Tax Evasion - illegal.
This is NOT the image of a top-level Tax Consultant.
http://img.thesun.co.uk/multimedia/a...o_1463186a.jpg
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Quote:
Originally Posted by DaveF
I think the Fat Balloon may be confusing Tax Avoidance - legal - with Tax Evasion - illegal.
This is NOT the image of a top-level Tax Consultant.
http://img.thesun.co.uk/multimedia/a...o_1463186a.jpg
Quote:
Originally Posted by Doddie
Yes, their extinction is appealing.
However I stand by my position. The cup final was A win, not THE win. But then I'm not in favour of the sort of mentality that chooses as the best tunes and bands of all time the ones people can remember from the last three or four years. A longer perspective is better.
I'll see their referee-assisted, financial steroid-bought cup win and then raise it both the 7-0 AND the magnificent 0-0 draw on 9th November 1985 which cost them the single point that would otherwise have won them the League in season 1985-1986. Still, Mita been eh?
Never thought that they would go out of business . But after reading all the info on their share info and tax case there is only one get out clause - if mad vlad bails them out. This will not happen so bye bye hearts as far as I can see.
Quote:
Originally Posted by Doddie
:top marks
Unless of course it is a top level tax accountant enduring a painful enforced enema from behind, just out of picture. Which is funny, because a painful enforced financial enema is exactly what that broke joke of a club is about to endure.
There could well be a top level tax consultant in there, he looks heavily pregnant to me.Quote:
Originally Posted by Doddie
Could even be triplets.
Do top level tax consultants carry their unborn in their noses?Quote:
Originally Posted by Mikey
The suspense is killing me!Quote:
Originally Posted by HUTCHYHIBBY
Absolutely disgraceful that you should bring up this old, old match after all this time has passedQuote:
Originally Posted by One Day Soon
without also mentioning our 1-0 win over them on New Year's day 1965, which likewise cost them the league title. And this a far more satisfying result, as the winning goal was scored by an ex-Hearts player. :faf:
:not worth The late, great Willie Hamilton.
Quote:
Originally Posted by reallapsedhibee
Was actually at all of these games, 1965 was one I really don't remember but my uncle says its inconceivable that I wouldn't have been taken along, however I cannot for the life of me remember why 85 - 86 was so important, perhaps someone can enlighten me.
Wonder if Claros earns in Honduras and whether we are applying the correct PAYE method?
Read recently that over 1000 Romanov employees in Latvia(I think) have not been paid since July.
In HMRC's view, he is resident here. Ergo he should be taxed the same as anyone else.Quote:
Originally Posted by ancient hibee
But to do that the club has to know his remuneration in Honduras along with his rate of income tax there.Also presumably it depends on length of residence in each country.Quote:
Originally Posted by CropleyWasGod
That's not relevant. The difference is that Hibs (or Tom Farmer) don't own that team in Honduras.Quote:
Originally Posted by ancient hibee
The fact that Romanov owns Kaunus has nothing to do with this case.Quote:
Originally Posted by Part/Time Supporter
Quote:
Originally Posted by ancient hibee
I think it does in the minds of HMRC surely? They will see this as the tax equivalent of a Housing Benefit contrived tenancy.
Quote:
Originally Posted by Desperate Dan
I don't care how anyone spells it, as long as it happens :greengrin
It has everything to do with the case. The "loan price" between the two clubs was fixed for maximum tax advantage. Normally HMRC wouldn't be able to question a loan price because the two clubs are independent of each other.Quote:
Originally Posted by ancient hibee
The other factor is that some of them weren't loans in the common sense that most football fans (or HMRC) would understand them: a short term arrangement (between independent actors) which may or may not be extended depending on the circumstances. eg Bednar was playing in the Czech Republic, was bought by Kaunas and then immediately "loaned" to Hearts. He may have never even so much as stepped foot in Lithuania, but would have been paying his taxes there.
Slightly backtrack on my earlier view here.....Quote:
Originally Posted by ancient hibee
He's not an employee of Hibs. Therefore his club will invoice us every month for an agreed amount. There will be no PAYE and NI on that payment.
However, Claros is resident here, and therefore due UK tax on his worldwide earnings. HMRC and he will agree on his liability, and Hibs won't be part of it.
While I write this, I am wondering therefore what the difference is between us and the Hearts situation. (edit.... perhaps HMFC undertook to pick up their tax liabilities, which would be remuneration in itself.)
The amount of players? The same bloke owning both clubs? Those seemingly outsize "player registration fees" that puzzled in their accounts?Quote:
Originally Posted by CropleyWasGod
Nothing like Claros' situation - a one off between two distinct entities.
The first and second shouldn't make a difference. However, the third might..... depending on who the money was paid to. If part of it was to the players, HMRC might have taken the view that those payments represented remuneration.Quote:
Originally Posted by Kato
In the unlikely event that Hibs have made a mistake with Claros (and it would be a genuine mistake) you can be sure that Hibs and HMRC would sort it out quickly and amicably.
I would be very surprised if there's an issue though.
Yes, this is true. From the little that I have heard about this situation it sounds like this is a textbook transfer pricing case. Transfer pricing rules would not apply in almost all football loan deals which is why the guy on BBC radio does not know what he is talking about.Quote:
Originally Posted by Part/Time Supporter
Romanov is noted as ultimate controller of Hearts as well as Kaunus F C so they are connected companies subject to a whole raft of tax laws I don't ever want to be troubled with again. :greengrin
:agree:Quote:
Originally Posted by Mikey
I just can't look past the fact that no matter how innocent hearts may look or how safe Robertson thinks they are...If Hearts had been doing nothing wrong then HMRC wouldn't have found evidence and be pursuing them and Hearts wouldn't be scrambling about trying to raise £1.75m.
Whatever it may be that they've done, they've been caught.
My guess is that the "registration fees" were used by Kaunus to pay all (or part) of the wages.Quote:
Originally Posted by CropleyWasGod
For example .. Hearts pay Kaunus a £200k registration fee and then pay £1k a week towards the wages. Kaunus pay the player £5k a week at lower tax level. They then pay UK tax and NI on the £1k.
If the HMRC have reasonable evidence, they could argue that UK tax and NI should be paid on the registration fee (or the full wage).
Just guessing likes. :wink:
I can remember a story ages ago about a Hearts player that applied for a loan/mortgage, or something, and his wage was too low to get it, until he produced documentation of an additional income from Kaunus.
I didn't read too much into at the time, but looks like it could be what the HMRC are chasing up.
I remember that one too, Stevie, and I've always suspected that that was at the root of the HMRC investigation. However, if that is the case, then it's not the loan players that are the issue here. That player was employed by Hearts. As such, he would be subject to tax on his worldwide income.Quote:
Originally Posted by StevieC
This might just be your loose use of language, but you are wrong on this point. Strictly speaking the UK does not tax "worldwide earnings" like the other countries that do tax worldwide earnings, like the US for example. In my own personal case, I am a US citizen/UK resident with a fairly complicated tax situation. The US taxes me on all my UK income but the UK does not tax me on certain US income.Quote:
Originally Posted by CropleyWasGod
This whole situation is further complicated by the differences in the various bilateral tax treaties.
The comedy has started in ernest. Hands off Hearts HMRC !Quote:
Originally Posted by Mikey
If the bill is £4million with interest and penalities, can't see any way out for them this time.
A third division re-start will be difficult without a ground!
It would be interesting to know how the loan of Craig Thomson to Kaunas was treated.
Would HoMFC be stupid enough to treat the tax situation differently from the players loaned to Hearts from Kaunas? I.E try to dodge tax both ways? If so, could HMRC use this in their case against Hearts?
I suspect they may be interested in players like Bednar, Goncalves, Aguiar and Jankauskas who signed for Kausnas yet never kicked a ball for them.Quote:
Originally Posted by StevieC
I don't think any of this would be down to "stupidity" from Hearts point of view and more likely to be the tax avoiding mindset of their owner. Being self-employed in the UK, I have to declare all my income and pay the appropriate amount of tax and NI accordingly. I get the impression that there is a completely different mindset in Russia (and former Soviet nations) regarding the declaration of income and the payment of tax, and that the authorities are less stringent at chasing up irregularities.Quote:
Originally Posted by hibbybob
I would suspect that Vlad paid very little (if any) tax on the "player registrations" that were received from Hearts.
I understand that the Jambos' tax consultant is Corporal Fraser of Dad's Army.
We're dooooooomed !
Were some of those players not on a reported £8-£10k a week?Quote:
Originally Posted by Kaiser1962
If so, that's an annual wage of close to £500k with a tax liability of 50%, so it wouldn't be long in adding up to the figure the HMRC are chasing.
It's sounding more and more like the HMRC could well have a decent case.
Sound familiar?
http://www.guardian.co.uk/sport/2012...administration
This bit certainly does ..Quote:
Originally Posted by PatHead
"They have already thrown themselves on the mercy of their fans once this year, when an appeal from Hood to raise £500,000 to secure their short-term future was successful .. but that money would appear to have been swallowed."
Replace £500,000 with £1.75m. :wink:
It would have been 40% back then but you can see how they could quickly get to the sort of number mentioned.Quote:
Originally Posted by StevieC
The other strange thing about those deals (certainly in Bednar's case) was how Kaunas would then "sell" the player to Hearts after a year or two. Almost like they realised there was a tax problem and needed to rectify it.
I recollect reports that Goncalves was on considerably more than that. Was it not reported when Zaliaukios was negotiating that he wanted parity with Goncalves?Quote:
Originally Posted by StevieC
When was Campbell Ogilvy there? Just out of curiosity.........
Over the road they are all pretty much praying for administration but a few half sensible folk are, rightly, pointing out that this is very unlikely to happen given the structure and set up of the debts. Right now they will be very fortunate to see the end of the year, never mind the end of the season. .
they have had a few "stars" that would have been on a fair wedge, Dairylea Kingston, Fyssas, Bednar, Panilla, Skacel, Zaliukas etc
As much as I'd like them to sink without trace, I just can't see them shutting up shop. Somehow, they will escape from all this and still be hanging around like a bad smell for years to come.Quote:
Originally Posted by Kaiser1962
Feel free to dig up this post and remind of it if \ when the place is demolished though :greengrin
I wonder if there were .cough. duel contracts?
...playing at Murrayfield in Div 3.Quote:
Originally Posted by DaveF
I can cope with that :greengrinQuote:
Originally Posted by Kato
Quote:
Originally Posted by One Day Soon
I would tend to share your long view, but MAY 19th was just about as painful a day as I've ever had following Hibs and I'm in no mood to forget or forbear - yet.
But if, as may well yet come to light, there were contractual irregularities between the club and some of those players who played in the Final, I would assume that the SFA will have to do to them what they appear to intend to do to Rangers - deprive them of the trophy concerned.
Now THAT would be both funny, and exquisitely poetic justice.
Doubt it. Contracts with 'Russian Roulette to be played by the whole squad until there is a "loser" ' in them would have been much better though!.:thumbsup:Quote:
Originally Posted by Kato
Quote:
Originally Posted by DaveF
I share your concerns and if it was anything else but football they would already be consigned to the dustbin. But it is football and normal rules are suspended.
I remain hopeful though.
which begs the repeated question, why would any footballer WANT to sign for them?Quote:
Originally Posted by StevieC
Because they pay more than any other team outwith the old firm. How (or when) they get their wages really doesn't matter, they still have the money in the bank.Quote:
Originally Posted by Hibernia Na Eir
Not being a tax expert here but something about these theories doesnt smell right.
Why would Hearts pay any of the 'loan' players wages at all if a tax break could be achieved (ignoring the relative morality/ chances of getting away with it) If you are going to avoid tax this way why not go the whole hog and just have Kaunus pay the complete wage?
Also, could it be as simple as information from HomoFC's own accounts sinking them?
'So, your accounts say you pay £?? Million in wages per year, Seems your PAYE and NI are a bit short Mr Romanov' :Romanov:
Thinking the 'player registrations' to Kaunas is probably lump sums to cover wage payments though - Seems a stick on.
dont agree with all you say Mikey,but on this occasion I do . cant see HFC falling into a trap set by hmrc for the sake of one player, but you never know. things can be overlooked genuinely, but for one individual, surely that can be sorted if it was exposed as money owed.? there must be a few situations over the years where Hibernian have players on loan from overseas, outwith our tax system.Quote:
Originally Posted by Mikey
http://www.scotsman.com/scotland-on-...ures-1-2602709
Quite liked this wee paragraph
What is clear is that Hearts remain at the mercy of Romanov and his Ukio Banko Investicine Grupe, which has been in control for almost eight years. As of 20 June last year, Hearts owed UBIG £22.4m, with interest at 4.5 per cent. The share document states that UBIG will not seek repayment of this amount during season 2012-13 but the position will be reassessed on 1 July 2013. “If UBIG were to demand repayment of the full amount,” states the document, “the Company [Hearts] would be insolvent and face liquidation
Quote:
Originally Posted by Www1875hfc
Nice wee read that. 1st July 2013 is something to look forward to.
Tick tock tick tock.
the interest alone is about £2,700 a DAY then!!Quote:
Originally Posted by Www1875hfc
i'm just absolutely delighted that HMRC finally decided to act on my strongly worded letter to them regarding the crooked manner in which the pinkoids have been run for a few years now, i also mentioned that campbell ogilvie deserves his very own investigation :agree:
go me :)
Hard hittting Tom English article in the Scotsman
http://www.scotsman.com/sport/footba...ults-1-2602698
Quote:
Buy Hearts shares or live with results
IN ANNOUNCING their share issue last week, Hearts didn’t so much press a prospectus into the hands of their supporters as push a gun to their temple. Whether it was the wording in the share brochure published on Friday or the comments made by Tynecastle director Sergejus Fedotovas earlier on the same day, the message coming out of the club was one that had more than a hint of emotional blackmail about it. In presenting a vision of the future that had Hearts in [COLOR=#446688 !important][COLOR=#446688 !important]mortal[/COLOR][/COLOR] danger of administration and possibly liquidation if the fans didn’t stump up more cash, Fedotovas, and the puppet master himself Vladimir Romanov, were engaging in some pretty desperate measures. Effectively they were saying: “Buy the shares or live with the consequences if you don’t...”
“The share issue is a signal, an alarm to the people who are truly concerned about the club,” said Fedotovas. What is he saying here? If people can’t afford to buy shares or don’t want to invest because they have legitimate concerns about how their money might be spent then these supporters are not “truly concerned about the club”? To Fedotovas’ mind is it a case of “if you want to prove you care, then buy the shares”?
All through Hearts’ public statements about the share issue there is a threat and the threat comes in the way of what might befall the club if enough punters don’t stump up. There doesn’t appear to any acceptance of responsibility on Romanov’s behalf, no mea culpa over the ridiculous way he has run the club. No. “If this strategy fails, the club will be faced with a tough financial reality,” said Fedotovas. “The answer to that would be another dramatic cut in costs. And I don’t think anyone would be happy with a weak team and bad football results.”
There you go. Pay up or feel the guilt. Fedotovas made a preposterous remark on Friday when saying that “if you want to maintain a squad that is capable of playing in Europe then the budget should be according to that.” Well, firstly, merely playing (i.e. qualifying to play) in Europe doesn’t need a big budget anymore, certainly not in Rangers’ absence. Motherwell had a shot at the Champions League last season with a much smaller budget than [COLOR=#446688 !important][COLOR=#446688 !important]Hearts[/COLOR][/COLOR] have, so Hearts could keep cutting and they’d still be one of the most moneyed squads in the SPL outside of Celtic.
Secondly, it was the drive for the SPL title and some kind of relevance in European football that has got [COLOR=#446688 !important][COLOR=#446688 !important]Hearts[/COLOR][/COLOR] into this financial nightmare in the first place. While Romanov deserves credit for stopping the sale of Tynecastle when he bought a controlling interest in the club, the early years of his stewardship were marked by spending. Throughout his supercilious phase when he predicted league titles and Champions League competition, the amount of money Romanov wasted on player salaries was nothing short of vulgar. Hearts are £24 million in debt (plus annual interest of 4.5 per cent) because of their hubristic wish to “maintain a squad that is capable of playing in Europe”. They don’t have enough money to pay their players on time, they have HMRC battering on their door, they have had to sell, sell and sell again to keep the show on the road and Fedotovas is harping on about building a squad for Europe? Enough, Sergejus.
The share brochure doesn’t so much suggest that Hearts need money now as scream it aloud. This is a hole of Romanov’s making and now he’s now demanding that the supporters fill it in with their cash, despite always saying that his private investment group, UBIG would always cover for any financial shortfall. Not anymore. In the introduction they suggest that everybody turns to page 18 for a section called Risk Factors and here is where Romanov reaches for the loaded gun.
It talks about the club being insolvent if it wasn’t for the ongoing support of Romanov’s UBIG, support that is guaranteed for this current season but will be “reassessed” on 1 July, 2013. “If UBIG were to demand repayment of the full amount, the Company would be insolvent and would face liquidation.” That’s Romanov effectively saying “I can shut this club down in the summer if I like…”
In the very next paragraph the tax case is mentioned. By comparison, the £1.75m, excluding interest and penalties, that HMRC are seeking from Hearts is buttons compared to the numbers that we’ve been speaking about for years at Ibrox, but, in relative terms, it’s a hugely significant figure. Hearts said on Thursday that they wanted to raise £1.8m in their share issue but never mentioned a potential tax bill which, coincidentally, will come in at about £1.8m if the case goes against them. Now, maybe the two £1.8ms are not linked, but the confusion must prey on the minds of some Hearts fans as they ponder the share issue. Are they being bull****ted here? Is the bulk of their share money going to youth development or is it a sneaky ploy on behalf of the club to use fans’ money to pay off the taxman?
The share brochure talks of a “significant ongoing dispute” with HMRC which could have a “dramatically negative impact on the Company”. The tax tribunal sits next month, the case revolving around a clutch of players signed on loan by Hearts from Kaunas up to seven years ago when the Lithuanian club was controlled by Romanov. The players’ salaries ran into thousands of pounds per week but only a small percentage of their wage was paid by Hearts. The majority came from their parent club. HMRC claim that Hearts were obliged to pay tax on their entire salary, not just a portion of it.
Some Hearts fans will buy shares because they can and because they feel they must but there is no moral imperative to buy, despite what Fedotovas is saying. If you’re a conscientious objector to the share issue (based on your fears about how the money might be used), it doesn’t make you any less of a Hearts fan. Maybe in Fedotovas’ mind it does, but not in the real world.
And let’s be clear about one thing. This isn’t an investment, it’s a gift. The shares will be worth nothing as the club is worth nothing, in financial terms. Last year, Romanov valued it at £50m, now he seems to have dropped the valuation to about £18m. Supporters are being asked to hand over £110, which is probably 109 times more than the entire club is worth while saddled by all that debt. There are perilous times for Hearts, but nobody should forget who is largely responsible for the shambles they’re currently in.
Although the circumstances are different the intent by both sevco & yams is identical, ie buy players you can't afford by getting us ( uk taxpayers ) to subsidise the wages of these players. There are many significant differences between normal loans & the yam situation. Most loans are for players out of favour at their club, eg Adebayor or young promising but inexperienced players, eg McGiven & Handling. The yam players never played for Kaunas & mostly never even entered the country. I have no doubt this will be found, correctly, to be tax evasion. One other possibility enters my cynical mind. What if yams were correctly taxing some of the Kaunas loans but only handing over a smaller amount to HMRC? That would be fraud & again not dissimilar to sevco where tax was collected but not paid to HMRC. They're doomed I tell you, doomed!
See when Gordon signed his £18k per week contract weren't there rumours he had to sign for Kaunas and be loaned back to Hearts?
There were definitely stories of players having to have Lithuanian bank accounts, which would suggest not everything was being done transparently.Quote:
Originally Posted by Danderhall Hibs
Nice Sunday morning read :greengrinQuote:
Originally Posted by grunt
Karma's a bitch :cb
I'd much prefer Hibs to be a stronger teeam than Hearts, dominate the fixture for years to come than see hearts go out of business as the 'more successful on the pitch' of the two teams.
Hearts have been stronger on the pitch in the same way as Lance Armstrong was the strongest on the streets of France.Quote:
Originally Posted by comfortablynumb
They have been financial doping for years and still have a squad which costs them more than their turnover.
What it all boils down to is that hearts have been cheating in order to gain a sporting advantage. For this reason I hope they rot in hell.
Just had a Jambo I know on FB saying yes he is going to invest in Hearts and that he believes in Vlad and what do I mean in suggesting the have cheated to win 2 cups in 6 years as per Portsmouth. Some of them are totally deluded and I honestly almost feel sorry for them. My other Jambo friends know they are in deep doo doo and are very worried but as long as some still believe it will continue.
Quote:
Originally Posted by Hibstrooper
Cue a seething "Scotsman is more a Hibernian fanzine than a real paper - they hate us tooooooooo *sob sob*" from our Tynie cousins!
I like that, I'm going to use that oneQuote:
Originally Posted by Ozyhibby
Quote:
Originally Posted by thebakerboy
there's none so blind as those who will not see
Remember that Hearts re-iterated to the Edinburgh Council that a new stadium needs to be in place for the start of season 2013/2014 back in March 2011.
Been having a scan of the various opinions and predictions of future events over on Kickback.
Loose the tax case , Vlad refuses to stump-up, Share sale is a flop/success and everything in between.
Some seem to think administration, getting a CVA, dumping the tax debt with UBIG retaining the PBS because of their security would be the solution. ?
Any thoughts Cav/CWG, your employment on this board is secure. :greengrin
don't think a CVA would work this time, the Huns had outside creditors but why would Vlad sanction that road when its him and his businesses that would lose out?
does a CVA even work when the creditors are not a UK based company?
Short term loan from Wonga may help the cheaters. There is no way Romanov has ploughed in 60 million and they are 40 million in debt. That is a swing of 100 million + money brought in from transfers etc. From the moment he took over every penny spent went through their clubs books. In my mind they are absolute cheats by paying salaries that were way over what they could afford - and just creating debt. From the money he allegedly invested - where is the ground improvement? where is the training facilities? They deserve everything they get - and one thing is for sure, our approach will pay long term dividends as we have the infrastructure all now in place, and we are starting to see results on the pitch. C'mon the Hibees.
I posted about 2 years ago that I knew for a fact that money was being paid through a Lithuanian bank. Source? An ex Vlad employee who I knew through him working for me for a while - after he was sacked by Vlad. He was paid £500 a month here by Hearts, the rest was funnelled through a Lith bank to avoid UK taxes. He also got a free apartment, free car, phone, all his meals etc. No P11D benefits were ever declared. There is no doubt in my mind that HMRC will win any case against them.
Here's what I just posted onthe pm board...Quote:
Originally Posted by greenginger
Quote:
I think the difference between HoMFC and Rangers is that Rangers was a viable business with good tax-producing potential if they could have got out of their immediate predicament. In Hearts case they simply don't have a viable business case even if they could offload large parts of their debt.
To my mind, all administration would do is cost fees unnecessarily.
Dead simple. You pay the tax you ply your trade in. They "earned" the pay here they pay the tax here.
The loan story is a red herring. Uk to Uk loans are still in HMRC's jurisdiction so they get the tax either way.
Hearts could have a Corporation Tax advantage by paying Kaunas a management fee for the players, thereby reducing tax in the UK, provided Kaunus are part of the same Group.
The government need every tax £ and that is why they are pursuing this. Interest and penalties will be heafty as well.
The investment story is crap. It is basically a bung. And any sane person investing would run a mile because of the tax case!
Sane of course is the operative word!
Doubt Vlad would bother with admin. He would probably go straight for liquidation. He controls most of the debt and I would think he either has a charge over the stadium or he has already shifted ownership to a different entity. Either way, HMRC will not see a penny of the money they are claiming against Hearts.
Although the property Market is nowhere near where it was in 2008, Tynecastle still has some value (probably about £6-8m). Ubig will almost certainly try to het as much money back as possible to cover the balance sheet hit they will take if they are liquidated.
A phoenix Hearts will have to compete with the house builders if they want Tynecastle back. I doubt they would want to. It is on it's last legs as a stadium. More likely they will rent at Murrayfield, start in Div 3 and take about 5-6 years to get back. They are not Sevco so will not be able to attract players from the SPL like they have done. There should be at least one missed promotion.
By the time they get back to the SPL they will be paying High rent at Murrayfield or be sitting on a large debt after the construction of a new stadium outside the town.
They will have lost their History. No more 5-1, Scottish cups etc.
All in all it should be quite amusing.
This is the kind of scenario which puts a big smile on my face, and makes my breakfast a thoroughly enjoyable experience this morning :agree:Quote:
Originally Posted by Ozyhibby
This. Please let this be so....Quote:
Originally Posted by Ozyhibby
The nice thing about these clowns going bust is the 0-7 game will officially be the biggest derby horsing in the entire history of hertz vs hibs.
I dont think hibs vs spartans will have the same spice to it.
doubt it.Quote:
Originally Posted by Ozyhibby
Vlad could just let the club agree a payment period for the tax, keep the debt and have the club live within their means and service the debt.
no outlay and has an income.
Liquidation would be the ultimate debt forgiveness
Good article in Scotland on Sunday
http://www.scotsman.com/scotland-on-...ults-1-2602698
Everyone seems to have forgotten that there is a ready made replacement for Tynie just up the road at Saughton park , should suit them nicely next season.
doesn't change anything.Quote:
Originally Posted by Ozyhibby
If they live on within their means financing their debt to ubig and hmrc then they will be the same as the rest.
Then we can play on an even playing field and win the upper hand fairly.
I'm 100% prepared to give it a try.Quote:
Originally Posted by Pames McJake
HMRC will not give a payment plan in 2012 for taxes that should have been payed in 2005. They will have to stump up the full amount or HMRC will issue a winding up order.Quote:
Originally Posted by comfortablynumb
Will Vlad chuck in another £4m?
Not sure where you get the Income part from. They are losing about £800k a month.
Very good article, if Hearts fans buy shares it is a "gift" very true.Quote:
Originally Posted by poolman
The problem is who is the gift for Hearts, HMRC or Uncle Vlad?
I always thought Hearts would come out of the shambles smelling of roses until now :greengrin
I hope they are here next year still around playing in the SPL with 18yr old laddies consistently losing 4 - 5 goals per week lets see how many Believers continue to turn up.
Quick question :
Does Petrie get carried shoulder high into the AGM this year ?
http://i.ytimg.com/vi/ZyDaci79yFQ/0.jpg
Perfect storm brewing for the Jumbos, better start a suicide watch around Gorgie. Mind you they would probably *** that up as well.
suicide watch? Nah, I'm going tae start a rope making business :greengrinQuote:
Originally Posted by Hibs7
http://i19.photobucket.com/albums/b1...02/hangyam.gif
Couple of additions that make this even better reading. VR defo does own tynecastle as this was part of a debt for equity swap as far as I'm aware. Also don't believe they can build flats on the land due to contamination/ not fit for human dwelling... No change there then! :p e.g land becomes even less valuableQuote:
Originally Posted by Ozyhibby
Surely if you buy shares , regardless with what company /club etc ., one is looking for an annual dividend ?
Is Vlad asking the 'slum dwellers' to forgo that dividend or will there just not be one ?
If so what is the point in buying ?
They won't get a seat on the board and even if they did would it achieve anything ?
Remember the song ' Fairy Tales may come true ' ?
' You can go to extremes with impossible schemes.
You can laugh when your dreams fall apart at the seams.
And life gets more exciting with each passing day.
And LIQUIDATION has either arrived, or is on it's way. '
This ' fairy tale' might just come true :greengrin
Remember writing this back in 2009 ya trumpet...
FAO our dear friends at hibs.net
Well, well, well. Hearts are going on a European tour; Hibs are staying at home as usual. Late last year, you insisted our demise was about to happen, administration and all the rest of it. Unbelievably, you're still writing thread after thread about it - but guess what? No-one's listening any more.
Tell us: what's it like to be more obsessed with your neighbours than to love your own club? Special mention here to those online graduates of the Adam Smith Institute, Heraghty's, Caversham Green and the one and only Sergey. Do any of you ever write anything about Hibs at all? It sure as heck doesn't seem that way. Oh, and inserting that naff green 'goodbye' smiley at the end of your latest bout of delusion doesn't mean your wildest fantasies (well, apart from losing your virginity at last) are about to come true!
Still, never mind. Tick tock, eh boys? Ever wondered why no-one in the national media has ever speculated in the way you constantly do? Here's a hint: it's because your dreams do not equal reality. This club will be here for as long and longer than you will; and as long as it does, you'll always be in our shadow. 108 years - and counting.
GIRFUY. :spammy:
I'd prefer the land to be more valuable for housing than it just getting handed to the Phoenix club. I want them out the city or at least paying tennants at Murrayfield.Quote:
Originally Posted by RoYO!
:greengrin Tee-hee! I could do with a "Like!" button right now!
Is anything actually going to happen this time?
:cb
is this not also a club that has the words 'and now, the end is near' in its song. How fitting.
Quote:
Originally Posted by RoYO!
The PBS still belongs to the Yams, technically at least. There is a standard security, in favour of UBIG, over the stadium though and a floating charge over the rest of the company's assetts. If they were to go bang today UBIG/Vlad would retain full control over everything that Hearts own, even the lightbulbs.
Administration would be totally and utterly pointless.
Hearts now admitting theyre up sh*t kreek without a paddle:greengrin
http://www.bbc.co.uk/sport/0/football/20115241
Financially the situation is quite serious," Fedotovas told BBC Scotland. -- no sh*t Sherlock
"We are really hopeful that this club will be successful and will prosper and administration is the wrong word, I would say."Quote:
Originally Posted by weonlywon6-2
So in other words.... they're going into Administration, but will just pretend it's something else? :tee hee:
He should be. Some of the managerial appointments didn't work out it is true, but that said there were a lot of Hibees who agreed with the appointments at the time. From a financial point of view though, he must have balls of steel to have stared down all the fans who told him he was wrong to keep a tight reign financially and elect not to quit. Good old Rod Petrie has my vote.Quote:
Originally Posted by Treadstone
Spoke to a yam mate yesterday and asked him what he was gonna do about shares, his answer was I will probably buy some, £110 is the minimum amount he can spend he understands its a waste but feels in a situation that the alternative is doing nothing and that definitely won't help.