Share Transfers Agreed/Cooling off period

[CropleyWasGod]

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Why would they go automatically into division 3? If HMFC go into liquidation, then they cease to exist. The new club (unlike the huns) would have no registered players and no stadium (unless they buy it from Vlad). Spartans or the Strollers, among others, would have a more valid claim for the vacant spot than Newyam Ltd.

What would be hilarious is if there were 2 or 3 pheonix clubs all making the claim to be Hearts (given the number of different groups that have sprung up) - "Are you The Heart of Midlothian?" - "F*** off! We're Hearts of Midlothian." and so on ...

Not exactly.

The liquidator would have the "name" to sell, in the same way that D&P sold RFC's name. If there were lots of groups interested, then that would push the price up.

You might find that OldYam was worth 5 times as much as OldHun.

[Just Alf]

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I've wondered about that as well but I can't see any way in which they won't get to start again in division 3, even if tynecastle is sold to Tesco they'll ground share at livi or something.

Imo this fans group will take over the running of hearts after they've been liquidated and will start again in division 3. No idea when this will happen but that's what my money is on.

I'm no so sure about Div 3 :D


With newco hun they (arguably) kept an operating club together... Kept paying their players, had a stadium etc etc which allowed the SFA to pretend they were the same ish club which gave newco a toe in the door of Div 3.

With the Yams it's very possibly going to be a melt down. They'll lose the PBS and as they don't have a training ground Won't have a fall back to use as a "head quarters", players won't be paid so all contracts will lapse, back office team will go etc etc..... A Yam newco would actually have less going for it than gala or whoever it was that tried to get into the leagues previously. This would make it really difficult for them to be levered straight back in...... Hopefully!

[Dashing Bob S]

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Not exactly.

The liquidator would have the "name" to sell, in the same way that D&P sold RFC's name. If there were lots of groups interested, then that would push the price up.

You might find that OldYam was worth 5 times as much as OldHun.

I should imagine the successful bidder will be a fan-backed consortium of local businessmen, and, probably, that one will wangle himself into a Mercer role. They will then be shoehorned into Div 3 as the Hun precedent has been set.

[hibs0666]

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I've wondered about that as well but I can't see any way in which they won't get to start again in division 3, even if tynecastle is sold to Tesco they'll ground share at livi or something.

Imo this fans group will take over the running of hearts after they've been liquidated and will start again in division 3. No idea when this will happen but that's what my money is on.

In that scenario there is nothing to stop loads of folk setting up New Hearts FC's and claiming the right to the division 3 place. Might just set one up myself.

[JeMeSouviens]

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I should imagine the successful bidder will be a fan-backed consortium of local businessmen, and, probably, that one will wangle himself into a Mercer role. They will then be shoehorned into Div 3 as the Hun precedent has been set.

I think you're right. Alex Mackie from the Foundation of the Hard-up clearly fancies himself in the role. The SFA will seek to use HMFC to try and lend a bit of legitimacy to their made up "transfer of membership" pish from the Hun fiasco.

In fact, didn't D&P include the SFA membership in the asset sale?

[greenginger]

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Not exactly.

The liquidator would have the "name" to sell, in the same way that D&P sold RFC's name. If there were lots of groups interested, then that would push the price up.

You might find that OldYam was worth 5 times as much as OldHun.

Not if Vlad has better lawyers than Craigie Boy, and Gateley LLP must fall into that category.

Vlad's security is "a standard security over Tynecastle Stadium and a floating charge across the assets of the Company.

I think Vlad gets the Club name and badge unless some supporters group out bids the remains of UBIG debt after the stadium value, and the accumulated cash pile, is removed from the debt.Still I'm sure the yams will be happy to pay Vlad forever more as they will no doubt believe he will change his mind and show it by building the Mega -stand and signing world cup stars once again.

[CropleyWasGod]

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Not if Vlad has better lawyers than Craigie Boy, and Gateley LLP must fall into that category.

Vlad's security is "a standard security over Tynecastle Stadium and a floating charge across the assets of the Company.

I think Vlad gets the Club name and badge unless some supporters group out bids the remains of UBIG debt after the stadium value is removed from the debt.Still I'm sure the yams will be happy to pay Vlad forever more as they will no doubt believe he will change his mind and show it by building the Mega -stand and signing world cup stars once again.

Sorry, but the lawyers are irrelevant. If the club is in liquidation, then it's the liquidators who sell whatever assets they are. Vlad has no say in that process.

[Not In The Know]

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There are no Tanks in Iraq.

<-

[cocopops1875]

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In that scenario there is nothing to stop loads of folk setting up New Hearts FC's and claiming the right to the division 3 place. Might just set one up myself.

Your one has my backing

[TheReg!]

If the Merrics do get Liquidated, loose the ground and get pumped to Div 3 with new owners, do you think we will let them ground share with us in the short term?

[LancashireHibby]

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If the Merrics do get Liquidated, loose the ground and get pumped to Div 3 with new owners, do you think we will let them ground share with us in the short term?

Only if they pay rent of £5m per minute and pay it a month before each game.

[HUTCHYHIBBY]

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It will be a long and painful road back for them.

It aint heavy, its Vlads wallet!

[Mikey]

Assuming they do go under in the next few days or weeks I'd fully expect them to bumble along in some form so that they can complete this season. And I would fully expect a team called Hearts, playing in maroon, taking to the field somewhere between the SPL and Div3 next season. It might not be the same Hearts, but it'll be Hearts.

It could even be Hibs0666's Hearts

[s.a.m]

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Assuming they do go under in the next few days or weeks I'd fully expect them to bumble along in some form so that they can complete this season. And I would fully expect a team called Hearts, playing in maroon, taking to the field somewhere between the SPL and Div3 next season. It might not be the same Hearts, but it'll be Hearts.

It could even be Hibs0666's Hearts

How, though? Bumbling along, in any form, would cost money. Which they don't appear to have. Could they be liquidated and readmitted to the SPL during the course of the season? These are genuine questions, btw. Not having a go.

[CropleyWasGod]

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How, though? Bumbling along, in any form, would cost money. Which they don't appear to have. Could they be liquidated and readmitted to the SPL during the course of the season? These are genuine questions, btw. Not having a go.

No.

[Makaveli]

Any inevitable talk from the establishment about how important HoM.FC are to the community should be immediately refuted with images of the empty seats last night.

So important to the community that they can't sell out their bus shelter against Celtic when the club are desperate for cash.

[Mikey]

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How, though? Bumbling along, in any form, would cost money. Which they don't appear to have. Could they be liquidated and readmitted to the SPL during the course of the season? These are genuine questions, btw. Not having a go.

It would be totally against normal financial rules, and against logic, but the Scottish footballing authorities won't want to lose them completely. So something will be done!

It'll still hurt though

[TheReg!]

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There is Zero chance of the council building them a stadium. They are skint and have no appetite for big projects after the trams.

^^^^^^^^^^^
Yup I can't see The Council doing anything for them. I say ground share and fleece them! What else could they do? No matter where they play it ain't gonna be the PBS that's for sure

[greenginger]

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Sorry, but the lawyers are irrelevant. If the club is in liquidation, then it's the liquidators who sell whatever assets they are. Vlad has no say in that process.

Yes, but if Vlad offers " x " millions of his debt for a particular assets the liquidator would not be accepting a fraction of the amount from someone else.

Or would he ?

BTW. I only mentioned the lawyers because Craig Whyte's security on Ibrox turned out to be worthless.

[CropleyWasGod]

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Yes, but if Vlad offers " x " millions of his debt for a particular assets the liquidator would not be accepting a fraction of the amount from someone else.

Or would he ?

BTW. I only mentioned the lawyers because Craig Whyte's security on Ibrox turned out to be worthless.

The discussion was on the number of splinter groups that appear to be interested. I was talking about the possibility of their being an auction amongst them.

If Vlad comes up with a bid of £10, then it's his.

[lapsedhibee]

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Assuming they do go under in the next few days or weeks I'd fully expect them to bumble along in some form so that they can complete this season. And I would fully expect a team called Hearts, playing in maroon, taking to the field somewhere between the SPL and Div3 next season. It might not be the same Hearts, but it'll be Hearts.

It could even be Hibs0666's Hearts

Could the admin pricks here not organise some sort of semi-credible bid for the PhoenixCo Yams? Just enough to get reported in the press as a serious, or even unserious, bid? Even if just to get some "We'd sooner date Marilyn Monroe than allow our club to fall into the hands of weeteamers" response? Petty, but I'd contribute.

[Kojock]

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And yet they're still talking about rebuilding that main stand over the road

Right I know the Yams are stupid but why would they build a stand over the road, where would the traffic go do you think they would build an underpass ??

Surely the best place to build their new super stand would be alongside the pitch pretty much where the old one is now.

[monktonharp]

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Could the admin pricks here not organise some sort of semi-credible bid for the PhoenixCo Yams? Just enough to get reported in the press as a serious, or even unserious, bid? Even if just to get some "We'd sooner date Marilyn Monroe than allow our club to fall into the hands of weeteamers" response? Petty, but I'd contribute.

on the sauce early today, are we?

[lapsedhibee]

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on the sauce early today, are we?

All unsuccessful bids get turned down with a humorous reference to Marilyn Monroe. It's what big clubs do.

[Mikey]

I posted about this last week but I can't remember if it was in this thread or another one

Anyway, I've heard of another instance of a company that's being threatened with bad press if they take Hearts to court over money due to them. And it's l-o-o-o-n-g overdue!!

From what I can make out, no-one's getting paid anything!

[greenginger]

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I posted about this last week but I can't remember if it was in this thread or another one

Anyway, I've heard of another instance of a company that's being threatened with bad press if they take Hearts to court over money due to them. And it's l-o-o-o-n-g overdue!!

From what I can make out, no-one's getting paid anything!

Unfortunately I've still not had any response from Edinburgh Council to my freedom of information request about unpaid business rates and rent by the Yams.

[greenginger]

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The discussion was on the number of splinter groups that appear to be interested. I was talking about the possibility of their being an auction amongst them.

If Vlad comes up with a bid of £10, then it's his.

I kind of like the idea of Vlad owning the Yam name and badge and him leasing it to one of the many Yam ( in ) action groups.

They would be Vlad Serfs and as one lot run out of kiddies piggy banks and cake-mix, another lot step forward to be bled dry.

[JimBHibees]

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Unfortunately I've still not had any response from Edinburgh Council to my freedom of information request about unpaid business rates and rent by the Yams.

They only have a set number of days to respond - 20 working days I think it is.

[Fred Perry]

http://www.heartsfc.co.uk/page/Heart...,10289,00.html

[greenginger]

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They only have a set number of days to respond - 20 working days I think it is.

I know, I requested the information on the 14th of November so they have still got a couple of weeks left if they stretch it to the limit.

still, we can always hope its dealt with by a non-yam who takes their job seriously !