Share Transfers Agreed/Cooling off period

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Originally Posted by PapillonVert

OK, so FoH are basically trying to get hold of the club on the cheap and are hoping Micawberishly that something (i.e. enough funds to run the show and pay back the borrowings) will turn up. Why would anyone want to lend if the ability to repay isn't very clear?

Sounds like they haven't learned their lesson at all.

BTW, and apropos of on-going costs, will BDO have to pay the Police bill for Sunday?

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The earning potential of the club is there if it's run correctly so paying the money back shouldn't be a problem.

Yes BDO will be paying the police for Sunday.

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Originally Posted by Bajillions

The earning potential of the club is there if it's run correctly so paying the money back shouldn't be a problem.

Yes BDO will be paying the police for Sunday.

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Thanks for this - in other words, they will have to cut their cloth like everyone else and live within their means. So, au revoir to £10,000 per week players, squads of around 50, Champions League glory and all the rest of the Big Team delusions of grandeur.

The dawn of the era of cold reality.

Still, it was all worth it, wasn't it?

Does anyone know when we're likely to hear what the up to date valuation of tiny is? Was there not going to be another survey done soon?

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Originally Posted by Treadstone

That's what i thought the plan was. Why then does the debt have to go to the football club ? Some sort of security ?

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The way the Rangers CVA was intended to work was that Sevco would lend the money to Rangers so that the club could partially pay back its debts. Because debts exceeded asset value the shares were worthless and would be transferred for nil or a nominal fee as a condition of the loan. That loan would then be the club's debt to pay back as agreed with the lenders. I would imagine a similar arrangement is being suggested here.

Is a vomitorium not an access/egress passageway in a theatre? I'm sure thats what I heard on QI! :-)

The best example I can think of is the tunnel through the terracing at the old McLeod Street end at Tynie. Although having said that I've been spewing coming out of that hole on numerous occasions!

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Originally Posted by HUTCHYHIBBY

Is a vomitorium not an access/egress passageway in a theatre? I'm sure thats what I heard on QI! :-)

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I'm sure they have one in the Bernabeu or the Camp Nou.

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Originally Posted by PapillonVert

All sounds a bit like one of those Roman banquets where they all stuffed their faces and then made themselves sick so they could start all over again.

They used to have a room set aside especially for the purpose - called the Vomitorium - maybe that should be the new name for Tynie.

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This is beautiful. Quite, quite beautiful.

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Originally Posted by HUTCHYHIBBY

Is a vomitorium not an access/egress passageway in a theatre? I'm sure thats what I heard on QI! :-)

The best example I can think of is the tunnel through the terracing at the old McLeod Street end at Tynie. Although having said that I've been spewing coming out of that hole on numerous occasions!

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You're thinking of Vomitory: http://www.webdictionary.co.uk/defin...query=vomitory

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Originally Posted by CropleyWasGod

...only if its Constitution expressly forbade it.

Most charities have a catch-all clause in their constitution which enables them to "advance/loan/grant any monies.... in pursuit of their objectives/for any purpose" etc etc. I suspect that that will be the case here.

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Agree with you CWG. Nevertheless, also on this basis the funding agreement between the grant provider and the charity should be looked at. Funds being diverted and original purpose not fulfilled would necessitate a request for a grant to be pepaid.

Perhaps not a serious issue for Ms Miller but of concern for citizens that wish to trust those governing our institutions. Funds seem to definitely have been diverted.

I wonder if the public would be able to review the relevant documents. Auditors connected with HMFC related party entities seem to have a habit of missing things and understating risk.

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Originally Posted by HUTCHYHIBBY

Is a vomitorium not an access/egress passageway in a theatre? I'm sure thats what I heard on QI! :-)

The best example I can think of is the tunnel through the terracing at the old McLeod Street end at Tynie. Although having said that I've been spewing coming out of that hole on numerous occasions!

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Scott Lindsay told me that the tunnels at football grounds for fans etc to access the stadium are called vomitorium (vomitariums?). I think he said he was told that by the architects or whatever who designed the east stand.

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Originally Posted by PapillonVert

Thanks for this - in other words, they will have to cut their cloth like everyone else and live within their means. So, au revoir to £10,000 per week players, squads of around 50, Champions League glory and all the rest of the Big Team delusions of grandeur.

The dawn of the era of cold reality.

Still, it was all worth it, wasn't it?

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And they will most probably have to do it for at least one season as a first division club.

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Originally Posted by jgl07

The idea of a fan managed club may work for teams like Dunfermline provided that the fans have realistic expectations.

It is totally ludicrous for a team like Hearts with their 'Big Team' mentality. They will always be tempted to spend beyond their means and they will have zero access to credit. Assuming they can stagger on until the season tickets are sold for next season (February 2014?) they will be back into the same routine as recent years. The season ticket money for 2014-2015 will have been partially spent in 2013-2014.

How are they going to raise the cash to even keep the safety certificate for the old stand let alone finance a replacement? They have no access to cheap finance like Hibs have through the guarantees of Tom Farmer.

How long will their fans accept having to pay twice (direct debts and season tickets)? How will they cope with relegation and the inevitable fall in income? They will not be able to react as Hibs did by bringing in the likes of Latapy, Sauzee, and Paatelainen and taking a serious loss.

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THAT'S the bit that excites older Hibees (like me !) - we know the level and standards of their teams prior to the 'Financial Football' business-model that Mercer introduced 30+ years ago (and continued with ever since !) - CRAP !!. The cold, hard facts are that they will revert to these levels - both on the footballing-front and attendances - I can't wait !!!

( as time goes by, certain events can lose their value so, in that case, current and future custodians of Hibs should ensure that all - players, staff, supporters etc - never forget exactly what THEY have done to us (and other clubs) over the past 30+ years and should NEVER be forgotten - revenge MUST be had !!)

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Originally Posted by Hibeesforever

Agree with you CWG. Nevertheless, also on this basis the funding agreement between the grant provider and the charity should be looked at. Funds being diverted and original purpose not fulfilled would necessitate a request for a grant to be pepaid.

Perhaps not a serious issue for Ms Miller but of concern for citizens that wish to trust those governing our institutions. Funds seem to definitely have been diverted.

I wonder if the public would be able to review the relevant documents. Auditors connected with HMFC related party entities seem to have a habit of missing things and understating risk.

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Not disagreeing at all, but I think the likely response would be that the money lent to HMFC came from "unrestricted" funds, ie where the donor made no demands on how the money was used, or "core" funds, which are reserves built up over a number of years.

If the money did indeed come from "restricted" funds, then there is a problem. The accounts would help to clarify that.

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Originally Posted by WeeWendy

Scott Lindsay told me that the tunnels at football grounds for fans etc to access the stadium are called vomitorium (vomitariums?). I think he said he was told that by the architects or whatever who designed the east stand.

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Nope, according to this it's a Vomitory (pl, Vomitories).

http://www.merriam-webster.com/dictionary/vomitory

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Originally Posted by Liberal Hibby

You're thinking of Vomitory: http://www.webdictionary.co.uk/defin...query=vomitory

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I do believe it is also sometimes called the vomitorium. Like auditorium it originates from Latin

From the Latin vomire, meaning to spew out.

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Originally Posted by PapillonVert

I do believe it is also sometimes called the vomitorium. Like auditorium it originates from Latin

From the Latin vomire, meaning to spew out.

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That should be incorporated into the Sevco Hearts badge (which will hopefully be along before the trams are up and running)

Getting a bit sick of all this vomiwhatever talk :sick:

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Originally Posted by Jack Hackett

Getting a bit sick of all this vomiwhatever talk :sick:

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Jings, sorry I mentioned it but you know how talking about the Jambos sometimes makes us all feel a bit queasy. :greengrin

But, sometimes we just have to do it. :wink: For the greater good and that.

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Originally Posted by PapillonVert

Jings, sorry I mentioned it but you know how talking about the Jambos sometimes makes us all feel a bit queasy. :greengrin

But, sometimes we just have to do it. :wink: For the greater good and that.

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'For the greater good'

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Originally Posted by PapillonVert

Jings, sorry I mentioned it but you know how talking about the Jambos sometimes makes us all feel a bit queasy. :greengrin

But, sometimes we just have to do it. :wink: For the greater good and that.

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:greengrin

quick update please .not got time to read the last 15 pages ive missed .where are we on these smelly mutants not exesting any more and the pbs being sold from under them .thanks in advance guys ggtth

Sorry not got time to update you :0)
Alright it's because I can't understand half of what gets posted on this thread

quick update please .not got time to read the last 15 pages ive missed .where are we on these smelly mutants not exesting any more and the pbs being sold from under them .thanks in advance guys ggtth

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Originally Posted by livi hibs 1875

quick update please .not got time to read the last 15 pages ive missed .where are we on these smelly mutants not exesting any more and the pbs being sold from under them .thanks in advance guys ggtth

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Not a full update but this is what I've picked up over the last couple of weeks.

1. FOH are rumoured to be the preferred bidder
2. Massone's group are yet to provide BDO with proof of funding (which could be the reason for 1. being rumoured)
3. Creditor's meeting this Monday (12th)
4. BDO have or are in the process of having Tynecastle valued, but this valuation will not be public knowledge.
5. FOH's original bid was increased after BDO's recommendation but this increased bid was then rejected by the administrator for Ukio Bankas, therefore I would assume they are in the process (hopefully not though) of planning another increased bid.

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Originally Posted by MixuPutALineOn

Sorry not got time to update you :0)
Alright it's because I can't understand half of what gets posted on this thread

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Well I liked it.

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Originally Posted by livi hibs 1875

quick update please .not got time to read the last 15 pages ive missed .where are we on these smelly mutants not exesting any more and the pbs being sold from under them .thanks in advance guys ggtth

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#allisbarry

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Originally Posted by SloopJB

Well I liked it.

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Haha cheers mate.

Whatever the result on Sunday, I'm hoping the forthcoming week brings in its wake a ****storm of bad news for those cretins.

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Originally Posted by livi hibs 1875

quick update please .not got time to read the last 15 pages ive missed .where are we on these smelly mutants not exesting any more and the pbs being sold from under them .thanks in advance guys ggtth

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Lack of attention to detail is at the heart of this sorry mess.

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Originally Posted by livi hibs 1875

quick update please .not got time to read the last 15 pages ive missed .where are we on these smelly mutants not exesting any more and the pbs being sold from under them .thanks in advance guys ggtth

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The clock is ticking and the damn alarm goes off .
BDO press the snooze button.