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View Poll Results: What's your preferred outcome from the financial problems over at Yam land?

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  • Hertz do not exist anymore

    746 48.89%
  • Hertz survive but play in a lower league

    560 36.70%
  • Hertz survive and stay in SPL

    49 3.21%
  • Don't care about them

    171 11.21%
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  1. #14971
    Scottish football is officially declared corrupt! Absolute shambles.


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  3. #14972
    So it's going to happen next season, even better in my opinion as we can rub their noses in it.

    http://sport.stv.tv/football/clubs/h...medium=twitter

    Hearts will not be relegated from the Scottish Premier League despite its parent company declaring its insolvency.

    The SPL board met on Monday to consider whether UBIG's financial status constituted an "insolvency event" under SPL rules on "group undertakings" relating to clubs.

    Hearts feared an 18 point deduction and relegation to the First Division as a result of last Thursday's announcement but the league has ruled that there is insufficient information to suggest the club should be punished.

    A statement from the league's board read: "The SPL board met today to consider reports from Lithuania in respect of UBIG.

    "The board are not satisfied, on the basis of information currently available to it, that an Insolvency Event (a defined by SPL rules) occurred in repsect of UBIG during season 2012/13."

  4. #14973
    Haha, jumbo's celebrating the fact that they are staying up, forgetting the fact that they have lost nearly all their players. Their stadium is a crumbling joke and the fact that there's millions still to pay back. Absolutely sums them up. Eejits!

  5. #14974
    @hibs.net private member Kato's Avatar
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    Bring them on next season. More chances to beat them where it counts, on the park. As someone else said they will rot next term, points deduction, crap team and financially humstrung. That's if they make it that far as they by no means out the woods themselves. Death by a thousand cuts whilst they watch rubbish football is OK by me.

  6. #14975
    @hibs.net private member steakbake's Avatar
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    Quote Originally Posted by LeithenHibby View Post
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    I can live with that, they will suffer a longer, slower demise
    ...even longer...even slower.

  7. #14976
    old Barry has just confirmed the story on his twitter account. Must be true.

  8. #14977
    UBIG: We are insolvent.

    SPL: No insolvency event took place at UBIG.

    No wonder the game in this country is ****ed.

  9. #14978
    Coaching Staff Ozyhibby's Avatar
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    At least the reason given wasn't the connection between Ubig and Hearts.
    Means when the Ubig admin is confirmed they start next season on -15.

  10. #14979
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    Shower of gutless *******s, looks like the people will have tae dae the job for them. Look forward tae the mess when they go tits up during the season. Nae wonder Scottish fitba is ****ed with these erseholes running it.
    Last edited by Saorsa; 20-05-2013 at 02:24 PM.

  11. #14980
    Left by mutual consent! Hibercelona's Avatar
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    Quote Originally Posted by Judas Iscariot View Post
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    Good...

    Dundee will kick up ****...
    Oh my....

    They'll just be told to put up or shut up.

  12. #14981
    @hibs.net private member Juice-Terry's Avatar
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    Quote Originally Posted by Part/Time Supporter View Post
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    "on the basis of information currently available to it"...

    Sounds like a get out if new information comes in (eg a court hearing in Lithuania further to the declaration). IMO they've ruled that the declaration to the Lithuanian Govt by itself is not equivalent to a Scottish insolvency process.
    Spot on!

  13. #14982
    First Team Regular EuanH78's Avatar
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    Quote Originally Posted by #FromTheCapital View Post
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    Can't say it bothers me if they get away with relegation. Hearts are absolutely ****ed here either way. This was simply a wee sideshow to keep us entertained before the main event
    Agree completely, I actually think it's the correct decision by the SPL, would have pished myself if they got relegated mind.

  14. #14983
    Coaching Staff LancashireHibby's Avatar
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    Wouldn't worry too much about it folks, it's merely bad timing that the Lithuanian courts haven't confirmed the insolvency yet, so in that regard I think the SPL are perfectly justified. Their time will come.

    To extend the last minute penalty equaliser analogy, we'll still get the winner in injury time.

  15. #14984
    @hibs.net private member Part/Time Supporter's Avatar
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    Quote Originally Posted by Pretty Boy View Post
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    UBIG: We are insolvent.

    SPL: No insolvency event took place at UBIG.

    No wonder the game in this country is ****ed.
    As defined in their rules, that is correct. There is no direct Scottish equivalent of what UBIG have done. They could only have relegated Hearts today if they had determined that it would inevitably lead to an equivalent insolvency process. I thought it more likely they would defer the decision, but their statement does give a get-out if new information comes in.

  16. #14985
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    Quote Originally Posted by Ozyhibby View Post
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    At least the reason given wasn't the connection between Ubig and Hearts.
    Means when the Ubig admin is confirmed they start next season on -15.
    Not at all ... that reason will just be used when they next have to make a decision.

  17. #14986
    Testimonial Due khib70's Avatar
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    Quote Originally Posted by Pretty Boy View Post
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    UBIG: We are insolvent.

    SPL: No insolvency event took place at UBIG.

    No wonder the game in this country is ****ed.
    This

    Shower of corrupt, pishy-breeked, jelly-kneed bottlers.

    Just putting off the inevitable, though

  18. #14987
    On the plus side if they get points deducted next year they are likely to be in the first division with The Rangers so a 2 season stay is a possibility.

  19. #14988
    Left by mutual consent! Skanko79's Avatar
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    511 pages of complete and utter ***** then.

  20. #14989
    @hibs.net private member Viva_Palmeiras's Avatar
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    Hollow victory for the yams.
    And so the cling-ons clung on.
    "We know the people who have invested so far are simple fans." Vladimir Romanov - Scotsman 10th December 2012
    "Romanov was like a breath of fresh air - laced with cyanide." Me.

  21. #14990
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    Quote Originally Posted by Caversham Green View Post
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    The definition of an insolvency event in the SPL rules include ceasing or forming an intention to cease business. That suggests that the formal legal process is unnecessary and I can't see how anyone could argue that a declaration of insolvency is not forming an intention to cease business.
    So they didn't form an intention by declaring themselves bankrupt and asking to be placed on the list of compnaies unable to fulfill their obligations?

  22. #14991
    So are they likely to start next season -15 points and without Tynecastle, sounds like a result to me if the case. :fenlon

  23. #14992
    First Team Breakthrough littleplum's Avatar
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    Quote Originally Posted by Ozyhibby View Post
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    At least the reason given wasn't the connection between Ubig and Hearts.
    Means when the Ubig admin is confirmed they start next season on -15.
    That's exactly how I see it. Anyone know how long we can expect the Lithuanian courts to confirm bankruptcy?

  24. #14993
    Will just have to put with going unbeaten against them again next season, if they make it through the summer

  25. #14994
    @hibs.net private member Juice-Terry's Avatar
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    Is it possible that a Lithuanian court could rule/determine that UBIG have been insolvent since 16/05/13 (when they declared themselves insolvent)? If so, wouldn't that be sufficient for the 18 point deduction?

  26. #14995
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    What will happen if the lith courts ratify the insolvency with the date they were put on the list? I am not sure we have heard the last of this.

  27. #14996
    @hibs.net private member Hibernian Verse's Avatar
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    Silly thread title now. They haven't bottled it. UBIG haven't been legally declared insolvent. The courts have to decide not the SPL, unless they want a law suit of their own on their hands.

    Change the thread title surely, makes hibs fans sound like pedants and there's many of us that aren't.

  28. #14997
    Right, let's not get carried away here.

    The SPL have ruled that the events on Thursday don't qualify as a fully fledged insolvency event which was always a possibility. UBIG's insolvency has to be ratified at some point and when that happens the 15 point deduction will apply instead. But let's not buy into all this "Hearts are saved" nonsense! Everything that applied before last thursday still applies now.

    Ukio is still in administration and they still have a secured debt.

    UBIG's assets are still frozen, preventing a sale.

    These are 2 amongst many components in Hearts ultimate demise.

  29. #14998
    @hibs.net private member CraigHibee's Avatar
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    im raging like everyone else! but surely bankruptcy is in the post

  30. #14999
    @hibs.net private member Juice-Terry's Avatar
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    Quote Originally Posted by HFCDaveA View Post
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    What will happen if the lith courts ratify the insolvency with the date they were put on the list? I am not sure we have heard the last of this.
    Beat you to it.

  31. #15000
    @hibs.net private member Thecat23's Avatar
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    Please close this thread. It's gone on long enough and it's clear they aren't going down. In fact they will dodge admin if a owner is comes in soon and gets the club for sweets.

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