Share Transfers Agreed/Cooling off period

[Ozyhibby]

If Vlad stole this money to spend on Hearts then Hearts stole this money. Romanov is Hearts. He is the controlling mind of the club. Legally that puts the club in the frame.
How will the Scottish football authorities deal with a club stealing money to buy players they would not be able to fund themselves?
We are not there yet but we may well be soon.

[Mikey]

That whole thread is a fairly amusing read actually. There's a combination of those who are fully aware of the dire situation they're in, and a sprinkling of dafties who reckon they'll be ok simply because they're the famous Heart of Midlothian football club.

[PatHead]

Just thinking seeing as Hector may no longer be the cause of their downfall can the avatars be replaced with something more appropriate? Any suggestions. A coffin perhaps?

[Jack Hackett]

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Just thinking seeing as Hector may no longer be the cause of their downfall can the avatars be replaced with something more appropriate? Any suggestions. A coffin perhaps?

How about an open grave with a tombstone reading 1874 - 2013?

[hibees 7062]

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Just thinking seeing as Hector may no longer be the cause of their downfall can the avatars be replaced with something more appropriate? Any suggestions. A coffin perhaps?

Romanov

[Kato]

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Just thinking seeing as Hector may no longer be the cause of their downfall can the avatars be replaced with something more appropriate? Any suggestions. A coffin perhaps?

Vlad-notes.

[Kato]

Diddums

http://www.finanznachrichten.de/nach...tic-10-252.htm

[jgl07]

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Can someone create a grim reaper smiley. Think we will need it soon.

Preferably with a bowler hat on.

[HUTCHYHIBBY]

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Picture that paints a thousand words

Just saw Hearts update on Reporting Scotland, camera cuts to club crest on stadium wall which has a big burd sheite splashed over it.

I wonder if it was the one hanging the Vlad banner out her windae?

[brog]

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Picked this up from over the road.............

Some interesting stuff there if it's true, does sound that way.
1. They had budgeted to sell McGowan this season regardless.
2. The Wallace/Templeton fees were already included in their budget therefore projected loss was over & above that income!
3. The big team expected to finish 6th!
4. If they don't make top 6 they expect another £500k loss!
5. Looks like they were expecting/projecting crowds of around 15/16 k for rest of season. That's already gone oot the windae so losses could be even higher.

in summary, even withou the UKIO shenanigans they're insolvent. The UKIO/UBIG'S deal just means they'll be homeless as well! Shame

[Aldo]

Lets not forget that Fester is just another puppet in the line of other puppets brought to the forefront by the Mad One.

Fester does not have a clue about any of the finances at tip castle or so he says and knows even less about being a manager.

Aka. YESMAN

and if he says anything against the club or its ongoings then he's oot.

My good lady works in finance and she has asked some of her colleagues about the current state of affairs at the PBS.

They are if the opinion that if it anything bar a football club then the administrators would of been in a long long time ago.

We already know this but the waiting game continues.

[clerriehibs]

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so his "source" didn't actually give him any information and just repeated "it's the fans fault" line that the club have been saying since the share issue by saying that the defecit is getting worse because of the falling attendances...

I actually agree with that; it IS the fans' fault, every festering one of them who's reached adulthood.

[PatHead]

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Some interesting stuff there if it's true, does sound that way.
1. They had budgeted to sell McGowan this season regardless.
2. The Wallace/Templeton fees were already included in their budget therefore projected loss was over & above that income!
3. The big team expected to finish 6th!
4. If they don't make top 6 they expect another £500k loss!
5. Looks like they were expecting/projecting crowds of around 15/16 k for rest of season. That's already gone oot the windae so losses could be even higher.

in summary, even withou the UKIO shenanigans they're insolvent. The UKIO/UBIG'S deal just means they'll be homeless as well! Shame

Suspect they had also expected to sell Zalukus/Driver/both as well and factored that in. You have to ask why they signed 2 more players though?

[cocopops1875]

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Suspect they had also expected to sell Zalukus/Driver/both as well and factored that in. You have to ask why they signed 2 more players though?

If its true they are not paying for the 2 players I don't see the issue, they needed a striker badly and it appears they got one for free who has done no bad

[The_Todd]

It's ok, some genius has come up with doubling ST prices. And he assumes that if they do that they'll still have 10,000 ST holders.

Double the prices for season tickets with the extra money being exchanged for enough of Ubig's shares to move control from Vlad to the fans. 10,000 season tickets at £700 average price

Barking, completely barking.

[Jack Hackett]

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Suspect they had also expected to sell Zalukus/Driver/both as well and factored that in. You have to ask why they signed 2 more players though?

As we're voicing suspicions, I strongly suspect the rumours that they're not contributing anything, or very little, to their wages. Given the 'goodwill' from their meeting in the Europa, I also suspect that a fair amount of begging went into the request for the players from Liverpool, in the hope it would return some modicum of success from what was proving to be a disastrous season on the pitch as well as on the financial front. It would also give some return to the fans who dug deep over Christmas, with no additional cash outlay.

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It's ok, some genius has come up with doubling ST prices. And he assumes that if they do that they'll still have 10,000 ST holders.



Barking, completely barking.

Completely ludicrous. Even, as you say, they persuaded 10k of them to part with £700 , season tickets are to watch football, not take control of a club.....that was what the share issue was about....well, 10% if you believe the 'Glorious Leader'

The desperation is oozing out of Keekbroke

[Springbank]

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There was numbers given of over £1 Million raised, However nobody is sure if that was fans "investing" in shares or if this included the "donations" Made from drinking at Shan Boozers, Bake Sales and selling the clubs historical momentos, one thing that is certain is it was nowhere near the £1.75 million they were looking for

This is my kind of humour, what a description of the largely windowless hovels these fat cretins quaff in

[Hibee Ryan]

Some geezer has came up with the perfect solution to their problems:

"Still think we should have a survival match at Murrayfield. 67000 fans at £40-50 each with the proceeds to be held in a trust and used to pay running costs. 06 v 12 with Paulo and Hartley etc. The money should go nowhere near Romanov."

£40-50 EACH and he expects 67000 people to go to this game?! Hahahaha, they're off their rockets

[Ryan91]

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how about an open grave with a tombstone reading 1876 - 2013?

ftfy

[Bostonhibby]

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It's ok, some genius has come up with doubling ST prices. And he assumes that if they do that they'll still have 10,000 ST holders.



Barking, completely barking.

It just defies belief, if I wasn't completely blocked from there I was going to go on and ask if anyone fancied just clubbing together to buy the whole shooting match for £51m and be done with it. Could borrow the money against the club itself.........

[Jack Hackett]

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ftfy

ty

edit

anyone else having a hard time browsing the site tonight?

[ScottB]

So that amounts to Hearts again publicly stating they don't have the money to complete the season.

How is this not trading while insolvent? Aren't they admitting as much by putting out statements / emails / faxes saying they are on the verge of running out of money?

[cocopops1875]

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Some geezer has came up with the perfect solution to their problems:

"Still think we should have a survival match at Murrayfield. 67000 fans at £40-50 each with the proceeds to be held in a trust and used to pay running costs. 06 v 12 with Paulo and Hartley etc. The money should go nowhere near Romanov."

£40-50 EACH and he expects 67000 people to go to this game?! Hahahaha, they're off their rockets

I just cant get my head round the need for a survival match, Are they in bother

[CropleyWasGod]

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So that amounts to Hearts again publicly stating they don't have the money to complete the season.

How is this not trading while insolvent? Aren't they admitting as much by putting out statements / emails / faxes saying they are on the verge of running out of money?

It's normally a liquidator who makes the case for "insolvent trading". I can't think of any situation where directors have been charged with that whilst the company is still trading.

[ScottB]

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It's normally a liquidator who makes the case for "insolvent trading". I can't think of any situation where directors have been charged with that whilst the company is still trading.

When they presumably eventually do go mammaries skyward, would these sort of statements be used as evidence to charge them with that after the event?

[PatHead]

Should the Directors not be calling in Administrators now? There is obviously no way they can trade out of their present state into profit.

[HoboHarry]

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It's normally a liquidator who makes the case for "insolvent trading". I can't think of any situation where directors have been charged with that whilst the company is still trading.

So for the non-financial whizz-kids among us, can you give us the idiots guide summary of where it all stands at this point please?

[Hibeesforever]

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So that amounts to Hearts again publicly stating they don't have the money to complete the season.

How is this not trading while insolvent? Aren't they admitting as much by putting out statements / emails / faxes saying they are on the verge of running out of money?

Certainly looks like it. I do not understand why creditors other than the Edinburgh council (via Hibs.net pressure) or HMRC have not challenged Hearts over their average 90 day payment terms. I find it hard to believe that all bills like electricity, water, police, training ground, hotels and stadium management fees are fully up to date. Importantly, I would think that all transactions have to go through the books of Heart of Midlothian. If any Lords or ladies are paying these sorts of liabilities personally "off balance sheet" then this would be a very very serious offence.

Directors would have to answer all questions like the above honestly. The SPL have very strict rules for non-compliance. The club formally known as Rangers can testify to this.

Still predicting administration before their cup final.

[CropleyWasGod]

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When they presumably eventually do go mammaries skyward, would these sort of statements be used as evidence to charge them with that after the event?

TBH, if some of the rumours about UBIG are true, I think that would be the least of their worries.

The implications of "wrongful trading" convictions are that all debts incurred after insolvency is established are deemed to be those of the directors personally. The phrase "blood out of a stone" is a continuing theme on this thread.

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Certainly looks like it. I do not understand why creditors other than the Edinburgh council (via Hibs.net pressure) or HMRC have not challenged Hearts over their average 90 day payment terms. I find it hard to believe that all bills like electricity, water, police, training ground, hotels and stadium management fees are fully up to date. Importantly, I would think that all transactions have to go through the books of Heart of Midlothian. If any Lords or ladies are paying these sorts of liabilities personally "off balance sheet" then this would be a very very serious offence.

Directors would have to answer all questions like the above honestly. The SPL have very strict rules for non-compliance. The club formally known as Rangers can testify to this.

Still predicting administration before their cup final.

Not sure I understand you. It's quite common (and legal) for directors to pick up company bills in difficult times... or is that not what you mean?

[greenginger]

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Certainly looks like it. I do not understand why creditors other than the Edinburgh council (via Hibs.net pressure) or HMRC have not challenged Hearts over their average 90 day payment terms. I find it hard to believe that all bills like electricity, water, police, training ground, hotels and stadium management fees are fully up to date. Importantly, I would think that all transactions have to go through the books of Heart of Midlothian. If any Lords or ladies are paying these sorts of liabilities personally "off balance sheet" then this would be a very very serious offence.

Directors would have to answer all questions like the above honestly. The SPL have very strict rules for non-compliance. The club formally known as Rangers can testify to this.

Still predicting administration before their cup final.

Yep, the Hearts Chairman, Roman Romanov will answer all these questions next time he is at Tynecastle.

I don't think he has been seen for over 5 years !