The rangers appointment

[Lago]

Frank Mcpartland appointed head of recruitment, now I am continually reading on here that they are bust or soon to be bust, how then do they continue to recruit people at this level? Where is the money coming from????

[Ozyhibby]

http://m.bbc.co.uk/sport/football/16967931

A report from 11/2/12

They went into admin on the 14th


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[Steve20]

They're not close to going bust again. Who actually says and believes that?

[greenginger]

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They're not close to going bust again. Who actually says and believes that?

They needed loans of £ 3 million and a share issue raising £ 3 million to get them to Christmas last year.

I hav'nt seen that kind of money appearing this season . Have you ?

Do you know if they are paying all their bills as they fall due ?

[Ozyhibby]

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They're not close to going bust again. Who actually says and believes that?

Dave King has said they need external finance to finish the season. So far they have not been able to source it and they have no assets they can offer as security. They need a donation. The figure is estimated to be between £5-8m.
Until they get it, people will speculate.


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[Keith_M]

I think it's reasonable to ask why they would bother recruiting new staff if they're really going bust.

IMO, they'll weasel their way out of it some how.

[greenginger]

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I think it's reasonable to ask why they would bother recruiting new staff if they're really going bust.

IMO, they'll weasel their way out of it some how.

King and Paul Murray will be the only ones who know their real financial position, for everyone else it will be business as usual untold otherwise.

The chief scout will be a Warburton/weir choice so they just get on with it.

They use the Mushroom farmers methods at Greyskull.

[Future17]

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http://m.bbc.co.uk/sport/football/16967931

A report from 11/2/12

They went into admin on the 14th


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Willie McKay is a complete fud.

[Ozyhibby]

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I think it's reasonable to ask why they would bother recruiting new staff if they're really going bust.

IMO, they'll weasel their way out of it some how.

People were saying that in Jan 2012 as well


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[Hank Schrader]

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They're not close to going bust again. Who actually says and believes that?

Folk that know more about finance than you. According to you a few years ago Hearts were never going into administration.

[IanM]

Surely we want them to recruite!? If they do need external finance even I'd work for them if it's rams up their wage bill

[stantonhibby]

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They're not close to going bust again. Who actually says and believes that?

Who knows......but its good to see you give them the benefit of the doubt. Maybe you could try that with your own club sometime.

[emerald green]

If the newco go bust then great as far as I'm concerned. That said, I suspect that talk of them "going bust" is wishful thinking on many folk's part.

The phrase "too good to be true" is how I look at it, personally knowing zilch as far as their finances is concerned.

[Keith_M]

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People were saying that in Jan 2012 as well

That's very true, but I thought that Hearts' time was up in 2014 so I'm not counting my chickens.

A lot of people on here were made to look rather foolish when it came to the yams.

[greenginger]

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That's very true, but I thought that Hearts' time was up in 2014 so I'm not counting my chickens.

A lot of people on here were made to look rather foolish when it came to the yams.

That's true, but we were not allowing for a corrupt administrator. Make no mistake Jackson was every bit as dishonest dealing with the heart's CVA as the Duff and Phelps pair would appear to be.

[Don Giovanni]

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They needed loans of £ 3 million and a share issue raising £ 3 million to get them to Christmas last year.

I hav'nt seen that kind of money appearing this season . Have you ?

Do you know if they are paying all their bills as they fall due ?

I haven't seen or heard stories of unpaid bonuses and delayed / missing wages either?

[Sergey]

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That's true, but we were not allowing for a corrupt administrator. Make no mistake Jackson was every bit as dishonest dealing with the heart's CVA as the Duff and Phelps pair would appear to be.

Never has a truer statement been typed on this forum.

Not only did the Lithuanian folks get well and truly shafted by Vlad, Jackson and BDO hoodwinked them into thinking the CVA was their best and only offer.

Folks in the know ken the score!

[worcesterhibby]

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Never has a truer statement been typed on this forum.

Not only did the Lithuanian folks get well and truly shafted by Vlad, Jackson and BDO hoodwinked them into thinking the CVA was their best and only offer.

Folks in the know ken the score!

So you were right all along.. apart from you weren't ! I get it now.

[NadeAteMyLunch!]

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Willie McKay is a complete fud.

My only thought reading that article as well. It's a special kind of fud that can come across as that arrogant and unlikeable so many times in such a short article. Complete weapon of a guy

[Sergey]

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So you were right all along.. apart from you weren't ! I get it now.

Not quite sure what you're referring to - care to elaborate - or please do start another thread so this one doesn't go off topic.

[Nakedmanoncrack]

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Not quite sure what you're referring to - care to elaborate - or please do start another thread so this one doesn't go off topic.

I think most of us recall your confident - and entirety wrong predictions of doom for our neighbours, can't believe you appear on a thread like this, maybe this is all another wind up.

[Sergey]

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I think most of us recall your confident - and entirety wrong predictions of doom for our neighbours, can't believe you appear on a thread like this, maybe this is all another wind up.

You can crack-on (apt by you're username) and post verbatim my posts that you refer.

I know what I know; and I can stand my corner against faceless nobodies who prefer to differ.

Go ahead - start a "Sergey was Wrong" thread.

[Ozyhibby]

Hearts did go bust. They got relegated.
Let's face it, it would have been jolly good fun if it was not for Rod Petrie putting us in a worse position than an in admin Hearts.
At least Vlad had the decency to leave the country.
Hearts didn't get away with it, it just feels like that because of what Rod is doing to us.


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[greenginger]

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Never has a truer statement been typed on this forum.

Not only did the Lithuanian folks get well and truly shafted by Vlad, Jackson and BDO hoodwinked them into thinking the CVA was their best and only offer.

Folks in the know ken the score!

My gripe with Jackson was with the way he counted the vote for/against the CVA.

There were really only 2 votes of any consequence, Ukio Bankas £ 13 million in favour and HMRC nearly £ 2 million against.

The insolvency law states that 75% of all creditors have to be in favour and 50 % of all non-connected creditors also in favour.

Now Ukio Bankas was 100% a connected creditor. Hearts accounts state Vlad is the controller of HOMFC and the majority shareholder of Ukio Bankas. Never mind the idiot son being chairman.

https://beta.companieshouse.gov.uk/company/SC005863

Now look at the report on the CVA vote. Its in the filing history,filed 2/12/2013 on pages 4 and 5.

There is no mention of any connected creditors in the vote in favour although HMRC is noted as a non-connected creditor.

There is no question Jackson rigged the vote and should be in the dock as soon as the Sevco mob are dealt with.

[Turkish Green]

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My gripe with Jackson was with the way he counted the vote for/against the CVA.

There were really only 2 votes of any consequence, Ukio Bankas £ 13 million in favour and HMRC nearly £ 2 million against.

The insolvency law states that 75% of all creditors have to be in favour and 50 % of all non-connected creditors also in favour.

Now Ukio Bankas was 100% a connected creditor. Hearts accounts state Vlad is the controller of HOMFC and the majority shareholder of Ukio Bankas. Never mind the idiot son being chairman.

https://beta.companieshouse.gov.uk/company/SC005863

Now look at the report on the CVA vote. Its in the filing history,filed 2/12/2013 on pages 4 and 5.

There is no mention of any connected creditors in the vote in favour although HMRC is noted as a non-connected creditor.

There is no question Jackson rigged the vote and should be in the dock as soon as the Sevco mob are dealt with.

I am not someone that comes from the Joseph Goebbels school of "If you repeat something often enough, it becomes the truth!"

IMO Bryan Jackson & BDO acted in the best interest of the clubs they administered (Hearts, Motherwell, Dundee). Which is why I suspect that Whyte was in such a hurry to get Duff & Duffer appointed before HMRC had could nominate BDO: a reason why all those involved with Oldco's administration were all arrested for serious fraud.

As you say, the big differences in the two CVAs was the level of debt owed to HMRC and the need of the Lithuanians to get a millstone removed. If HMRC would have been Hearts' major creditor then the club would likely have been liquidated as HMRC would have rejected the CVA as they did for Oldco. But HMRC weren't, the Lithuanians were and they wanted a 'quick' exit.

It does appear that Newco still have too many onerous debts for them to reach profithood anytime soon and if rumours are to be believed, ST sales alone will not keep the current boat afloat.

[Beefster]

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That's true, but we were not allowing for a corrupt administrator. Make no mistake Jackson was every bit as dishonest dealing with the heart's CVA as the Duff and Phelps pair would appear to be.

Pretty bold statement that I'd imagine could get Hibs.net in a shedload of bother without some evidence to back it up.

[greenginger]

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I am not someone that comes from the Joseph Goebbels school of "If you repeat something often enough, it becomes the truth!"

IMO Bryan Jackson & BDO acted in the best interest of the clubs they administered (Hearts, Motherwell, Dundee). Which is why I suspect that Whyte was in such a hurry to get Duff & Duffer appointed before HMRC had could nominate BDO: a reason why all those involved with Oldco's administration were all arrested for serious fraud.

As you say, the big differences in the two CVAs was the level of debt owed to HMRC and the need of the Lithuanians to get a millstone removed. If HMRC would have been Hearts' major creditor then the club would likely have been liquidated as HMRC would have rejected the CVA as they did for Oldco. But HMRC weren't, the Lithuanians were and they wanted a 'quick' exit.

It does appear that Newco still have too many onerous debts for them to reach profithood anytime soon and if rumours are to be believed, ST sales alone will not keep the current boat afloat.

It is not a case of repeating something for it to become the truth. It is the truth to start with. The law states there has to be 50% of the non-connected creditors voting in favour for a CVA to be granted.

Without the Ukio Bankas vote, the non-connected count would be £ 51,437.00 in favour and £ 1,881,000.00 voting against the CVA.

No wonder Jackson ignored the requirement to have a non-connected analysis when he granted the CVA.

Jackson's job may have been to save companies, but he was appointed by the Court, and his first duty was to obey the laws and follow the insolvency rules and regulations.

[worcesterhibby]

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Not quite sure what you're referring to - care to elaborate - or please do start another thread so this one doesn't go off topic.

I think you are smart enough to summarise, what I was inferring. But your right, it's off topic and picking an argument is against my Happy Clapper principles, so lets just drop it. Oh and I'm not faceless (as suggested in the reply to the other post) my face is in my avatar !

[PatHead]

Wonder if this guy is an expert in TUPE in case they go bust again?

[Thecat23]

We need to stop worrying about "ifs and buts" should have learned from last time. Let's just focus on Hibs and our own fortunes and not second guess what's happening anywhere else in case we get egg on our faces again!!

Hearts never went bust, they survived and we shot ourselves in the foot by getting relegated ourselves. So for me **** them all its all about the Hibs!