Quote:
Originally Posted by livi hibs 1875
Make the time to read the "15" :hmmm: pages. It`s very informative.
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Quote:
Originally Posted by livi hibs 1875
Make the time to read the "15" :hmmm: pages. It`s very informative.
Quote:
Originally Posted by livi hibs 1875
hearts.not wanting to find out ?Quote:
Originally Posted by livi hibs 1875
Snooze button!Quote:
Originally Posted by einstein
Surely they'll pull the plug for everlasting silence.
Lets hope so. :agree:Quote:
Originally Posted by Dunderhall
This is them we're talking about so I'm waiting on some kind of underhand deal being done to keep them afloat.......they've always been spawny ***** lets face it........
:grr:
Reading this I see the following,Quote:
Originally Posted by CropleyWasGod
Income from charitable activity £86,635
Cost of charitable activity £358,978 :confused:
Total donations £43,786
Cost of generating donations £59,342
can you clarify a point? how many bids have FoH made? I got laughed at, by someone ,for suggesting that the next bid will be their 3rd. In Hindsight, it could actually be their 4rth, as IIRC they actually put up a bid of £450k-£500k initially ,and that was before BDO. correct?Quote:
Originally Posted by Bajillions
Thanks, the accounts are not available online but it does say that they can be obtained.Quote:
Originally Posted by CropleyWasGod
The Big Hearts Community Charity does name all its trustees and therefore any potential conflicts of interest, like board membership of the SFA and membership of connected entities due significant monies like Herriot Watt University are disclosed.
I was only able to spend a short time looking at this and I could be completely wrong but form a search of the OSCR website, typing the names of various football teams like: Hibernian, Celtic, Rangers, Aberdeen, Ross County, St Johnstone, Motherwell, Inverness Caley Thistle, Partick Thistle, Dundee United and St. Mirren, only Big Hearts seemed to have been the beneficiary of government grant funding for the work that they were doing within their community.
It could just be a complete coincidence as the government grant may be separately audited and reported with more detail within the financial statements but I find this very interesting.
Their OSCR financial return was late twice which raises alarm bells immediately. Again, a quick check of OSCR reveals that very few, if any, of the other football charities were late in filing. Of course the records that were due for 31 March 2013 are still outstanding. I do not know if like the 2012 version there is an eleven month return window.
The turnover of the charity is impressive, the First Minister takes a big interest in the activities of the group. He is pictured buying season tickets and encouraging supporters to give money to the organisation for good causes. Whether politically, that is something that a First Minister should use his time to do, is a whole different question. As above, if no other football community group is receiving government assistance then it seems strange.
As you point out CropleywasGod, there is a need to determine what historical funds are restricted or unrestricted. There is also a need to obtain more of an understanding as to what the creditor item relates to within the BDO list of Creditors ? Payment in advance for something or just a straightforward loan of money ? (Apologies if this is elsewhere on the thread) If Big Hearts were acting as a conduit for donations as they now are (eg. see football matches at Spartans during July )then this does seem to be blurring the activities of what constitutes an arms length community group and a bona fide finance raising marketing arm.
I think all football club charities should get government funding and am happy that Hearts are pioneers by utilising this way to help the community and market the club.
I therefore think I will ask my local councillor and MSP to commend Big Hearts for doing this and ask them to personally lobby Parliament to do the same for all football clubs in Scotland. Goodness, then the First Minister would be really busy having to attend all those photo shoots at different grounds all around Scotland. His party mantra is always one of egalitarianism and social justice. Scotland should lead the way in Europe in this area. I would be delighted to give Big hearts the credit for initiating this to all the football clubs in Scotland.
Shamelessly getting this chap back in limelight, as I'm too depressed to post anything Hibs related - it's been six years of Groundhog Day.
Any news from der dark side?
I think it's the initial creditor's meeting today. As FOH are the only show in town, they'll get preferred bidder status. If their offer is not to the Lith's liking. It's Jambogeddon time.Quote:
Originally Posted by Dashing Bob S
As its only the initial meeting today it won't happen immediately, but won't be long now.
I hope they enjoyed yesterday.
Of course there's a very good chance the history books will record yesterday's result as a 0-3 win for the mighty cabbage!Quote:
Originally Posted by green glory
:greengrinQuote:
Originally Posted by Liberal Hibby
That's the only way we would have won yesterday!Quote:
Originally Posted by Liberal Hibby
Quote:
Originally Posted by Liberal Hibby
If so, it's very likely to be Fenlon's best result of the season.
I don't know if this has been asked before if it has sorry.
What if FOH are allowed to buy hearts from the litho's , will the 25mill still be owed ?
I know FOH will apply for a CVA but can the litho's refuse it and sent them into liquidation all the same so they wasted 3 or 4 million for nothing or am I just clinging on to false hope.
Who knows what you are doing here. :hmmm:Quote:
Originally Posted by Notahappyhibee
Quote:
Originally Posted by Notahappyhibee
The Lith's would have to appove the CVA. If they do the 25mil debt is wiped clean.
The purchase price will only be paid if there is a deal.Quote:
Originally Posted by Notahappyhibee
I think they cheating barstewards are going to get away with this.........Quote:
Originally Posted by desantos0773
Take me through that.Quote:
Originally Posted by Biggie
Cva gets accepted and they claw back the 12 point defecit?Quote:
Originally Posted by CropleyWasGod
And the secured creditor?Quote:
Originally Posted by bingo70
And the frozen shares?
Cva gets accepted.....and they write off £25m.....please feel free to slap me about the heidQuote:
Originally Posted by CropleyWasGod
Consider yourself slapped.:greengrinQuote:
Originally Posted by Biggie
Cheers, I was hoping you'd reassure me.Quote:
Originally Posted by CropleyWasGod
In your opinion is liquidation a forgone conclusion?
Not a foregone conclusion, but it's still the likeliest.Quote:
Originally Posted by bingo70
I listened to BJ on the radio at half-time yesterday. If I caught Richard Gordon's question properly, it was along the lines of "is this do-able? You said previously that it was 5/10". BJ's answer was "about the same, but nearer 6 than 4".
Incidentally, everyone at Tynie has to pay for the half-time sannies now.:greengrin
I'll chip in here and state that ongoing administration is a forgone conclusion. With Vlad AWOL and the frozen shares (and shares that are held by others) I simply don't see anyway out of admin in the foreseeable. BDO recently hinted to this which has been forgotten/ignored by FoH and their media.Quote:
Originally Posted by bingo70
With all due respect to my fellow Cropley I have some sympathy with the, admittedly illogical, view that this horrible club might somehow escape disaster. In my time supporting God's Own Team only during the Turnbull Years did we get any breaks against the Wongadome zombies. They are the luckiest team in Christendom...King Paddy's injury time equalizer at the school end and Super Ally's 30 yarder into the same goal (0-1, totally against the run of play) are the few things that keep me going ;-)Quote:
Originally Posted by CropleyWasGod
you have to think that with A moderate economic recovery and the subsidies from the government we are going to see a modest recovery in house prices and an interest in development sites. My mate at the council who is looking to flog a substantial bit of Meadowbank leaving space for a running track and facilities That would replace the indoor halls says there is plenty of interest from developers. By the way he says no money for capital projects because of the coalitions cuts. So no help for a Yam joint stadium. Given all this the FOH are well short of any valuation of Tynie and can't see them getting any significant fresh cash to put upfront on the table. The independent valuation will show the value of Tynie to be too far off with what is likely to be FOH's next and last bid. Liquidation must follow in the next few weeks.Quote:
Originally Posted by CropleyWasGod
That doesn't mean liquidation is inevitable. I think the likelier scenario is that they will muddle through in administration for a longer period, maybe the whole of this season, as BDO have hinted at on more than one occasion. The benefit of this is that it would remove the need for a buyer to fund the deficit caused by the pre-administration ticket sales entering the black hole. It would also allow time, as you suggest, for the legal issues in Lithuania to be resolved. The downside is that Hearts would be unable to sign any players for the duration and the administrators would have to go back to the fans later in the year with an appeal to fill the funding gap.Quote:
Originally Posted by Sergey
The justification for going to liquidation sooner rather than later would be if they could get a greater return that way (dubious, depends on who you ask about the PBS land value) and that it caps the fees run up by BDO. I know they ran up about £200K in the first six weeks, but their fees are likely to increase less quickly as the administration goes on because the urgent work (budgeting, redundancies and filtering out unrealistic bidders) has already been done.
The way BJ spoke yesterday, that isn't possible. They don't have the money to last that long.Quote:
Originally Posted by Part/Time Supporter