Share Transfers Agreed/Cooling off period

[Hibby Kay-Yay]

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They really don't get it with that £15m debt. It's costing them £600,000 per year - that's a fifth of their claimed wages budget going on nothing - and on top of that they have to find £15m to repay it in just over two years because they sure as hell ain't getting any replacement finance for it.

Nor can they shed it in any deal to purchase the club because it's not Ukio that are selling, so they're stuck with it even if UBIG's assets are unfrozen and someone can find enough money to buy the club. The only way they can lose it is through insolvency and they would also risk losing the PBS that way (not to mention the very existence of their club) plus relegation if it was to happen before the end of the season or a 15 point deduction next season if they manage to hold out.

If they were liquidated wouldn't they lose their licence to even play professionally? Whether the are in SPL or DIV 1 makes no difference?

[Caversham Green]

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If they were liquidated wouldn't they lose their licence to even play professionally? Whether the are in SPL or DIV 1 makes no difference?

I'd expect them to get the same treatment as Sevco if they were liquidated rather than exiting administration, and liquidation certainly looks the more likely of the two outcomes.

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Keep taking the tablets mate. Million pound player sales and that well thought-out membership scheme will inevitably see the yams to Champions League glory in a 50,000 Wongadome.

Aye, you're right - they've got it all covered.

Back to the peg-selling for me.

[steakbake]

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Wasn't empty mate.. The stewards were still there. Farf!!

Like a lot of the Hearts' players, they were only there because they have to be.

[littleplum]

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They really don't get it with that £15m debt. It's costing them £600,000 per year - that's a fifth of their claimed wages budget going on nothing - and on top of that they have to find £15m to repay it in just over two years because they sure as hell ain't getting any replacement finance for it.

Nor can they shed it in any deal to purchase the club because it's not Ukio that are selling, so they're stuck with it even if UBIG's assets are unfrozen and someone can find enough money to buy the club. The only way they can lose it is through insolvency and they would also risk losing the PBS that way (not to mention the very existence of their club) plus relegation if it was to happen before the end of the season or a 15 point deduction next season if they manage to hold out.

The term 'financial doping' has been used which I didn't find wholly satisfying for a number of reasons. Instead I'm beginning to think of it is as like an athlete taking a load of vitamins, protein shakes, and all sorts of additives to give themselves an edge. The only downside is that at the end they have to pass a stool the size of a rugby ball. Well the tip of it is just about showing now. Whether the act of passing it splits them in two I'm not so concerned- whatever's left at the end is going to be a mess and the process isn't going to be pleasant.

[kdhibees1]

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The term 'financial doping' has been used which I didn't find wholly satisfying for a number of reasons. Instead I'm beginning to think of it is as like an athlete taking a load of vitamins, protein shakes, and all sorts of additives to give themselves an edge. The only downside is that at the end they have to pass a stool the size of a rugby ball. Well the tip of it is just about showing now. Whether the act of passing it splits them in two I'm not so concerned- whatever's left at the end is going to be a mess and the process isn't going to be pleasant.

Haha, just spat out some of my tomato soup.

[green glory]

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The term 'financial doping' has been used which I didn't find wholly satisfying for a number of reasons. Instead I'm beginning to think of it is as like an athlete taking a load of vitamins, protein shakes, and all sorts of additives to give themselves an edge. The only downside is that at the end they have to pass a stool the size of a rugby ball. Well the tip of it is just about showing now. Whether the act of passing it splits them in two I'm not so concerned- whatever's left at the end is going to be a mess and the process isn't going to be pleasant.

Aye I think we're definately at the 'turtles breath' stage now. Mind you with them the stink is ever present so it's difficult to tell.

[jacomo]

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I have just watched the interview with Southern and, even by the standards of Yamland, it is quite incredible.

Is that man stupid or does he think we are ?

It's ok, we have a debt facility with a bank that has gone bust. Eh ?

Staggering. If things are so positive, why did Hearts beg their supporters to pump in money to prevent the club from closing before Christmas?

[Spike Mandela]

Anybody here able to inform these Hearts fans with the theory they have that Hearts have been billed twice...............

http://scotslawthoughts.wordpress.co...t-post-by-cds/

Edit..I see a few have already answered in the comments section.

[greenpaper55]

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If we're on Absolutely for a minute, can I say how funny McGlashans News Round is...the one with the football scores from 1991...

Hearts 0 Hibs 1 MURDO MURDO Yesssssss!

This http://www.youtube.com/watch?v=_MnD7q7EFt0

ya beauty !

[CropleyWasGod]

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Anybody here able to inform these Hearts fans with the theory they have that Hearts have been billed twice...............

http://scotslawthoughts.wordpress.co...t-post-by-cds/

Edit..I see a few have already answered in the comments section.

Yep.
Double taxation provisions would apply. If HMFC suffered any Lith tax, that would have been allowed for in HMRC 's final settlement.

[Barney McGrew]

http://www.thescottishsun.co.uk/scot...ts-crisis.html

Sun claiming four clubs have written to the SPL seeking 'clarification' on Hertz finances

I wonder who the four that read .net are?

[EdinMike]

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http://www.thescottishsun.co.uk/scot...ts-crisis.html

Sun claiming four clubs have written to the SPL seeking 'clarification' on Hertz finances

I wonder who the four that read .net are?

I love how, as a collective community. Most of us are more efficient than these "Journalists" Although it is The Sun, there is some sort of truth in this and as I and many others reckoned months ago. This is what they are up to.

I guess there is no penalties If they pull if off..

[matty_f]

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http://www.thescottishsun.co.uk/scot...ts-crisis.html

Sun claiming four clubs have written to the SPL seeking 'clarification' on Hertz finances

I wonder who the four that read .net are?

I certainly wouldn't be upset if some of the great work done on this thread to unravel the finances was seen by the SPL.

[The Green Goblin]

@Treadstone That pish about "best young players" does my head in as well. One, it's not true and two, they keep saying it like it was something they planned to do rather than had to do. That the sheep-like excuses we have for media pundits are now trotting this crud out as well just irritates me even more.

[Hibs7]

Looks like "there could be trouble ahead "


SPL demand Hearts finances inquiry

Four SPL clubs have written to the SFA demanding “clarification” on the extent of Hearts’ financial plight as suspicions have been raised that a cover-up has been orchestrated at Tynecastle in order to avoid relegation.

It has been suggested that Hearts are delaying the announcement of their entry into administration until after the end of this season.

Hearts maintain that the collapse of Ukio Bankas does not necessarily affect the holding company, UBIG. (The Sun)

[Hibercelona]

It's already being discussed on the big thread.

That's why its there.

[weecounty hibby]

At last someone in authority has bothered to ask question. Lets hope for some proper investigative work not like the stuff the "journalists" have done so far

[EdinMike]

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At last someone in authority has bothered to ask question. Lets hope for some proper investigative work not like the stuff the "journalists" have done so far

Like the ones reading this thread waiting for us to do the work.. *Hi there !"

Anyone else think that if Hearts could afford to take the point deduction and not be relegated, they would have declared Admin by now ?! Or would they still be hiding behind the truth..

[HUTCHYHIBBY]

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Kickback is like a mental ward with a few rabid, bipolar inmates trying to shout down an increasing chorus of the morbid and depressed.

You're right, its like the intranet for the residents of the asylum on American Horror Story!

[greenginger]

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Anybody here able to inform these Hearts fans with the theory they have that Hearts have been billed twice...............

http://scotslawthoughts.wordpress.co...t-post-by-cds/

Edit..I see a few have already answered in the comments section.

With the amounts of cash the Yams pay for accountants and solicitor's fees I think it is an absolute certainty any tax paid in Lith.Land would be factored in to the total sum that they signed up to pay.

Of course, this could be another question the serfs won't ask at their AGM.

[HUTCHYHIBBY]

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Haha, just spat out some of my tomato soup.

Do people really do stuff like this? Spit coffee over their keyboard etc if they find something amusing.

[Hibercelona]

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Do people really do stuff like this? Spit coffee over their keyboard etc.

Before this thread ever started, my keyboard was white.

Looking at it now, it's black.

[Andy74]

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Before this thread ever started, my keyboard was white.

Looking at it now, it's black.

Racist.

[HUTCHYHIBBY]

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Before this thread ever started, my keyboard was white.

Looking at it now, it's black.

Mines is even whiter now than it used to be! ;-)

[matty_f]

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Mines is even whiter now than it used to be! ;-)

That'll be down to those other websites you visit....

[Mikey]

And it's pay day tomorrow. And they'll have to inform the SPL if they fail to pay.

[HUTCHYHIBBY]

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That'll be down to those other websites you visit....

Not if this thread continues to provide 10 minute freeviews of their demise.

[Treadstone]

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@Treadstone That pish about "best young players" does my head in as well. One, it's not true and two, they keep saying it like it was something they planned to do rather than had to do. That the sheep-like excuses we have for media pundits are now trotting this crud out as well just irritates me even more.

Correct. If you say something enough times people might believe it.

[Leithenhibby]

Too little too late me thinks, or will the SPL have, or grow some to get this sorted.

It's gonna be a long cold summer...



http://www.thescottishsun.co.uk/scot...ts-crisis.html

[Treadstone]

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And it's pay day tomorrow. And they'll have to inform the SPL if they fail to pay.

You say that every month.