Share Transfers Agreed/Cooling off period

[Mikey]

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If Mr Romanov has decided to liquidate he would be better not paying this bill because his securities mean that all the proceeds of liquidation (excluding fees) would go to UBIG, so payment of the bill would be a payment to nothing.

Are we at the point where it would be in his interest, purely financially, for that to happen?

[CRAZYHIBBY]

This is a total non story..........nothing to see people please move along.......hearts are financially secure and us stupid hobbos are deluded

[Peevemor]

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Are we at the point where it would be in his interest, purely financially, for that to happen?

If he is strapped for cash and they risk going down the tubes in any case, he's as well cutting his losses now.

[Newry Hibs]

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Wow they are triple f-ed this time, the tax man is banging them from 2 sides and the wages due soon! This is it, without a serious injection of cash and I mean a serious injection of cash 4,5,6 million they're gone by Xmas! Maybe even before we might even get a by through to the next round of the cup

It would be nice to know!!! I need to look at booking flights. I suppose I could come over and visit the PBS as a kind of history lesson.

[green glory]

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Are we at the point where it would be in his interest, purely financially, for that to happen?

In order to get through the next week or so Vlad would have to open his wallet again, which he he's made clear he's not prepared to do.

2 + 2 = JAMBOGEDDON.

[HUTCHYHIBBY]

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"a consortium of players led by Andrew Webster and Ryan Stevenson approached senior officials at the club and informed them that they wanted to purchase shares and help the club in its hour of need."

Ryan ****ing Stevenson?
Haha, aye, very good

Professional players desperate to pay their wages to themselves shocker!

[Mikey]

Just to clarify the new rules, including dealings with HMRC......

SPL Resolutions
•Minimum of 10 points deducted from any club entering administration
•Extension of the sporting sanctions regime when SPL club's parent company enters administration
•Updates and extensions to the definition of insolvency events to track changes in insolvency law
•Requirement for clubs to pay players and HMRC on time and to report any failure to either
•Specific sanctions for clubs who fail to pay players/HMRC on time


So if they haven't reported the latest problem with HMRC they should have sanctions applied.

From here.....

http://www.bbc.co.uk/sport/0/football/18263819

[ScottB]

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I think transfer embargoes and point deductions are the least if their worries. Like you say this has to be sorted by Wednesday next week AND they have to pay the wages on Friday which I find it unlikely they can afford that on it's own.

Oh, and if course they might lose the tax case which is being heard this week.


WELCOME TO JAMBOGEDDON!

If we end up with a by we should all go along to the stadium anyway and laugh for around 90 minutes.

Maybe we could have our first 11 play the reserves... Might be nice to give them HMRC strips ;)

[green glory]

Barry Anderson's latest piece in the EN today is utter tripe. Traynoresque comedy.

[Part/Time Supporter]

Brian McLauchlin saying the amount due is "substantial six figure sum". £600K might not be such a bad guess...

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Barry Anderson's latest piece in the EN today is utter tripe. Traynoresque comedy.

Rangers News alumni. What do you expect?

[SuperTortolano]

Do you want them gone, would you miss the derby, would you like to see them suffer, or do you just not care?

[Caversham Green]

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Are we at the point where it would be in his interest, purely financially, for that to happen?

We've been there for a few years now, which is why there heve been so many threads about it in the past.

HoMFC have been losing vast amounts of money since he took over. That means the debt has been building up, but their results are such that they have no chance of trading out of it and it is well in excess of the break-up value of the assets.. Their external costs need to be financed by further increasing the debt so the whole thing is just costing him money that he won't get back. The best time for him to pull the plug (in pure financial terms) would have been when the debt only just exceeded the market value of the assets. I'm genuinely surprised he carried on for as long as he has.

[Off the bar]

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I'll take this over any small 'revenge' on the pitch!

Wouldn't May feel much better, if they went bust before playing them in the 1st match of same competition, merely 6 months later.

The future is bright, the future is green and white.
GGTTH

I'm not sure about that, there is no comeback from may and any derby game after May is just that but I would like the last derby memory to be us battering them senseless, and having one chance for us en masse to give it to them tight.
something along these lines would do nicely;

HM RC if you canny spell it here's what it says
Debt debt you're drowning in debt,
You're going bust on monday,
You f-ed it all up for 2 Scottish cups,
Lets all laugh at the jambos today

[Part/Time Supporter]

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We've been there for a few years now, which is why there heve been so many threads about it in the past.

HoMFC have been losing vast amounts of money since he took over. That means the debt has been building up, but their results are such that they have no chance of trading out of it and it is well in excess of the break-up value of the assets.. Their external costs need to be financed by further increasing the debt so the whole thing is just costing him money that he won't get back. The best time for him to pull the plug (in pure financial terms) would have been when the debt only just exceeded the market value of the assets. I'm genuinely surprised he carried on for as long as he has.

He said when he took over that he would invest about £10 million a year for five years. In aggregate, he's actually done that. The problem is he pissed the vast majority of it away on guff players. He's carried on for two years longer than expected and then kept them on a sort of life support for the last year.

[Dave-O]

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If we end up with a by we should all go along to the stadium anyway and laugh for around 90 minutes.

Maybe we could have our first 11 play the reserves... Might be nice to give them HMRC strips ;)

I'm up for that.....

and some of this....

[Dashing Bob S]

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We've been there for a few years now, which is why there heve been so many threads about it in the past.

HoMFC have been losing vast amounts of money since he took over. That means the debt has been building up, but their results are such that they have no chance of trading out of it and it is well in excess of the break-up value of the assets.. Their external costs need to be financed by further increasing the debt so the whole thing is just costing him money that he won't get back. The best time for him to pull the plug (in pure financial terms) would have been when the debt only just exceeded the market value of the assets. I'm genuinely surprised he carried on for as long as he has.

That is the biggest mystery in this entire affair, and one which he will probably carry to his grave: why did get involved and STAY involved, after it was costing him money which it was evident he'd never get back?

[LeighLoyal]

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Do you want them gone, would you miss the derby, would you like to see them suffer, or do you just not care?

Would prefer they stay in the spl and pay their bills by cutting back. The only club I hate is T'Rangers Sevco 5088 2012 FC .

[green glory]

#maroonsevco

#jambogeddon

Get it trending!

[ehf]

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It's what I was saying about mismanagement. If they have the ability to pay either through Mr Romanov or other means, they should have moved heaven and earth to do so before a WUP was served, because this can only damage the share issue - in other circumstances I would think it would have destroyed it. If they do manage to pay it now they've either made another almighty mess of the whole thing or they're using the proceeds of the share issue to pay a long outstanding tax bill - and that was most definitely not the stated purpose of the issue.

If Mr Romanov has decided to liquidate he would be better not paying this bill because his securities mean that all the proceeds of liquidation (excluding fees) would go to UBIG, so payment of the bill would be a payment to nothing.

Spot on. Pretty sure Vlad HAS decided to liquidate, so this suits him nicely: he can blame HMRC for firing the bullet and claim he tried his best with the risible share issue, then enforce his securities to recover as much of his debt as he can. Best the deluded ones can hope for next season is Third Division football and a ground-share with Livingston.

[brog]

Not paying PAYE & VAT on time is effectively theft. Yams have already collected this money from employees & fans & instead of passing on to HMRC have used these monies to keep the dead parrot, sorry, HMFC, afloat. By the letter of the SPL law Yams are already in breach as effectively they've already failed to pay tax on time. FYI, I'm registered for VAT. When I came to do my 2nd qtly report I was aware I was actually due about £700 from HMRC so in my ignorance I didn't submit my return but intended to delay until Q3 when I would offset. Within a week or 2 of my original due date having passed I received a demand for £5k, even tho I was due money! HMRC has rightly IMO been severely criticised for not applying these same rigorous principles to sevco. I can't see them making same lenient mistake with Yams!

[PatHead]

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We've been there for a few years now, which is why there heve been so many threads about it in the past.

HoMFC have been losing vast amounts of money since he took over. That means the debt has been building up, but their results are such that they have no chance of trading out of it and it is well in excess of the break-up value of the assets.. Their external costs need to be financed by further increasing the debt so the whole thing is just costing him money that he won't get back. The best time for him to pull the plug (in pure financial terms) would have been when the debt only just exceeded the market value of the assets. I'm genuinely surprised he carried on for as long as he has.

A cynic might say he was running a cleaning company over here for as long as he needed. Once the need was over he would close down the branch, pull together what was left of his assets and have nice clean stuff which was legit before returning home.

[Hovehibby]

I'd miss the derby, but if they do go down, Div 3 is about the only option. SFA set the precedent with sevco

[#FromTheCapital]

I'd like them to suffer the same fate as the dinosaurs

[Pedantic_Hibee]

Flush them.

[SteveHFC]

http://www.hmfckickb...can-it-be- done/


http://www.hmfckickb...he-end-of-days/

[Benny Brazil]

Wipe them off the face of the earth - pronto please.

[Sergey]

Now seems like a good time to roll-out my favourite ever post on the world wide web:

Originally Posted by Shaun Lawson on KB, 16-5-09
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 ya roaster!

[SteveHFC]

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Now seems like a good time to roll-out my favourite ever post on the world wide web:



GIRFUY ya roaster!

:fenlon

[s.a.m]

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That is the biggest mystery in this entire affair, and one which he will probably carry to his grave: why did get involved and STAY involved, after it was costing him money which it was evident he'd never get back?

Hubris?
Stupidity?

[The Harp]

Just saw a very serious looking John Mackay on the STV news headlines. First story up - the Yams uncertain future and the latest winding up order against them. The pressure on the club seems to be intensifying. Interesting days ahead.