Share Transfers Agreed/Cooling off period

[Caversham Green]

This quote is hidden because you are ignoring this member. Show Quote

I believe there's now concensus that it's PAYE, the Scotsman who were out of step have changed their story, & I think even Cav would now probably accept there was a tax bill which has not been paid in full.
I recognise SPL can't apply sanctions yet but they would have to be even more stupid than their reputation if they're not carefully watching & discussing with Yams their current financial situation. The last thing they will want is to rip up a fixture list shortly after having issued it. Mind you, I don't think there's any chance of Yams paying wages in next few days so unless the whole staff keep quiet that event will trigger sanctions regardless.

Well mibbes aye, mibbes naw....

I'll be interested to see what happens now though. I would expect HMRC to go ahead with the WUP because HoMFC have demonstrated that they are either insolvent or taking the pee. If the debt was indeed PAYE for the month of April then it was three weeks overdue, not the one week that was being claimed, and they have still not paid it in full. If they pay their staff on the due date they are showing that they had the money but chose to give priority to wages, thereby incurring further tax debts for next month. HMRC will not allow that to continue.

[happiehibbie]

It now takes a month to read this thread !!

I have read the last two pages I dont lke the situation of them getting players etc and not paying taxes

But this fixture is our BIGGEST money earner and the one we all look forward too. I dont want to call Hibs V LIVI / PARS a Derby match

what will be will be but losing this fixture will have an effect on our income remember we lost one million pounds last year !! that can continue in any Business.

I spoke to russel re my tickets for the Edinburgh suite no cup games or top up available he said to me we lost a million pounds last year we cant give you a cup top up !! the ticket i buy is 1k each i buy more than one

At this moment i have not renewd and wondering if i should....... I am quite happy with what i am seeing in terms of transfers etc ... the kick off times and game days are still a joke tho

[Caversham Green]

This quote is hidden because you are ignoring this member. Show Quote

So what does Ukio being liquidated mean for hearts? Does Lithuania come after them for the 15mil they owe?

I don't think it'll actually make much difference in the short term. The liquidation is likely to take some time and there appears to be a formal agreement in place so if HoMFC stick to it the liquidator is likely to just let them get on with it. If and when he does want to call the money in he will either try to sell the debt or have to offer them a deal to settle at a discount. He might or might not listen to offers from a prospective buyer to settle early - I don't think he will because he has little to gain from such a deal at this stage.

All of that presumes that the loan wasn't part of a fraudulent transaction. If it was - and that's a distinct possibility - all bets are off.

[Hermit Crab]

@edinburghpaper: Administrator of Ukio Bankas says he has "no reason or desire to harm Hearts" - full story at http://t.co/4mNNeuj3PK shortly

[Hermit Crab]

@BarryAnderson_8: Ukio Bankas administrators say they want to keep the club operating. Their "primary objective" is to help complete the sale of #HMFC. #SPL

[Springbank]

It would be fun to watch FoH splinter and splinter and splinter again as hearts onfield fortunes deteriorate as the 400000 becomes 4000.

I understand people wanting a quickie, but I still want to enjoy the foreplay as the yams slowly fall apart

[Leishy1995]

UBIG own Hearts not UKIO

[Gus Fring]

This quote is hidden because you are ignoring this member. Show Quote

UBIG own Hearts not UKIO

Also, talking to UKIO's administrator is somewhat moot, they should be talking to the Liquidator!

This quote is hidden because you are ignoring this member. Show Quote

@BarryAnderson_8: Ukio Bankas administrators say they want to keep the club operating. Their "primary objective" is to help complete the sale of #HMFC. #SPL

Utter nonsense. Their "primary objective" is getting the best return for the lithuanian tax payer! Barry is talking urine again!

[Leishy1995]

This quote is hidden because you are ignoring this member. Show Quote

Also, talking to UKIO's administrator is somewhat moot, they should be talking to the Liquidator!

Anyone remember @TheJamieRyan?

He just tweeted our pal all is Barry saying that, no reply.

[SaulGoodman]

I'm not interested in what the UKIO administrator says now.

I'm more interested in the Yams themselves, and the money the owe HMRC and how they're going to pay players.

They're ****ed either way I'd say

[bigwheel]

This quote is hidden because you are ignoring this member. Show Quote

@BarryAnderson_8: Ukio Bankas administrators say they want to keep the club operating. Their "primary objective" is to help complete the sale of #HMFC. #SPL

All administrators say this , as they need the co-operation of people in the businesses they will be dealing with. The reality is often quite different

[kennyh]

[QUOTE=Springbank;3638816]It would be fun to watch FoH splinter and splinter and splinter again as hearts onfield fortunes deteriorate as the 400000 becomes 4000.

I wonder how many of the 4000 fans that FoH claim have pledged to be willing to support them are from genuine pledges from ****s and how many were Hibees who took time out to pledge their support to such a worthy cause ??

[Gus Fring]

This quote is hidden because you are ignoring this member. Show Quote

Anyone remember @TheJamieRyan?

He just tweeted our pal all is Barry saying that, no reply.

I seen that, but it was too polite for my liking. This reply is better

Scott Purves @ScottPurves1
@BarryAnderson_8 you're still a prick

[SaulGoodman]

This quote is hidden because you are ignoring this member. Show Quote

@BarryAnderson_8: Ukio Bankas administrators say they want to keep the club operating. Their "primary objective" is to help complete the sale of #HMFC. #SPL

So the 'primary objective' of the administrators at a international company in millions of pounds worth of debt is to secure a sale for a small football team in Scotland?

Aye, nae bother, Barry

[Leishy1995]

This quote is hidden because you are ignoring this member. Show Quote

I seen that, but it was too polite for my liking. This reply is better

Scott Purves @ScottPurves1
@BarryAnderson_8 you're still a prick

Summary of baz done

[clerriehibs]

This quote is hidden because you are ignoring this member. Show Quote

It now takes a month to read this thread !!

I have read the last two pages I dont lke the situation of them getting players etc and not paying taxes

But this fixture is our BIGGEST money earner and the one we all look forward too. I dont want to call Hibs V LIVI / PARS a Derby match

what will be will be but losing this fixture will have an effect on our income remember we lost one million pounds last year !! that can continue in any Business.

I spoke to russel re my tickets for the Edinburgh suite no cup games or top up available he said to me we lost a million pounds last year we cant give you a cup top up !! the ticket i buy is 1k each i buy more than one

At this moment i have not renewd and wondering if i should....... I am quite happy with what i am seeing in terms of transfers etc ... the kick off times and game days are still a joke tho

You support Hibs, not Hibs v hertz.

[JeMeSouviens]

This quote is hidden because you are ignoring this member. Show Quote

Also, talking to UKIO's administrator is somewhat moot, they should be talking to the Liquidator!



Utter nonsense. Their "primary objective" is getting the best return for the lithuanian tax payer! Barry is talking urine again!

The actual quote doesn't even say that.

“In the ongoing processes we must at all times consider the best interest of the creditors of Ukio Bankas.

“Hearts of Midlothian Plc is one of the companies indebted to the bank. There are several possible alternatives to dealing with this case but our initial assessment indicates that most likely to get the most extensive return for Ukio Bankas creditors may be achieved by keeping the club operating.

“For now we have no reason or desire to harm Hearts so our primary initiative, having solved the regulatory and other issues, is contemplated to be the sale of Hearts.”

Primary initiative, not objective, ie. the first thing they'll try is look for a buyer for HMFC as a going concern. Provided there was a buyer with a sufficiently large offer, that would make perfect sense.

Time to see the colour of their money ...

[Treadstone]

This quote is hidden because you are ignoring this member. Show Quote

@BarryAnderson_8: Ukio Bankas administrators say they want to keep the club operating. Their "primary objective" is to help complete the sale of #HMFC. #SPL

Bit different from his tweet on the 15th Feb

Barry Anderson ‏@BarryAnderson_815 Feb
@jj_bruce Board say no issues, as tweet states. Ukio probs barely affect #Hearts. UBIG not funded #Hearts for a year, just debt facilities.

http://www.scotsman.com/edinburgh-ev...s-on-1-2963439

Headline :
Ukio Bankas administrators vow to sell Hearts on


Actually he says nothing of the sort.

(JeMeSouviens beat me to it) Although judging by the comments some Yams think he has cancelled the debt and handed them over to FoH for a fiver.

[JeMeSouviens]

This quote is hidden because you are ignoring this member. Show Quote

Bit different from his tweet on the 15th Feb

Barry Anderson ‏@BarryAnderson_815 Feb
@jj_bruce Board say no issues, as tweet states. Ukio probs barely affect #Hearts. UBIG not funded #Hearts for a year, just debt facilities.

http://www.scotsman.com/edinburgh-ev...s-on-1-2963439

Headline :
Ukio Bankas administrators vow to sell Hearts on

Actually he says nothing of the sort.

He says he reckons the best deal for creditors will be to sell them as a going concern. Note that he doesn't say where they'll be going. Hearts minus Tiny to FoH for £buttons plus Tiny to AN Other for £5.5M might well the best available.

[Treadstone]

This quote is hidden because you are ignoring this member. Show Quote

He says he reckons the best deal for creditors will be to sell them as a going concern. Note that he doesn't say where they'll be going. Hearts minus Tiny to FoH for £buttons plus Tiny to AN Other for £5.5M might well the best available.

Remember who we are talking about here. Also on that Feb 15th exchange was this wee nugget of a reply.

metalchappie ‏@jj_bruce15 Feb
@BarryAnderson_8 I find it worrying you take the board's statements at face value. Again what independent research have you done?

Barry Anderson ‏@BarryAnderson_815 Feb
@jj_bruce Plenty research & nothing hints at impending trouble for #Hearts. Club know cuts still needed. Tks for telling me how to do my job

[hibees 7062]

This quote is hidden because you are ignoring this member. Show Quote

Dress? I'm not getting married again!

Toilet paper hinging oot the back o yer troozers ?

[Gus Fring]

This quote is hidden because you are ignoring this member. Show Quote

He says he reckons the best deal for creditors will be to sell them as a going concern. Note that he doesn't say where they'll be going. Hearts minus Tiny to FoH for £buttons plus Tiny to AN Other for £5.5M might well the best available.

Can UKIO sell Hearts? Surely all they can sell is the security which amounts to the stadium and the 29.9% shareholding. That's only part of Hearts.

[Ozyhibby]

This quote is hidden because you are ignoring this member. Show Quote

It now takes a month to read this thread !!

I have read the last two pages I dont lke the situation of them getting players etc and not paying taxes

But this fixture is our BIGGEST money earner and the one we all look forward too. I dont want to call Hibs V LIVI / PARS a Derby match

what will be will be but losing this fixture will have an effect on our income remember we lost one million pounds last year !! that can continue in any Business.

I spoke to russel re my tickets for the Edinburgh suite no cup games or top up available he said to me we lost a million pounds last year we cant give you a cup top up !! the ticket i buy is 1k each i buy more than one

At this moment i have not renewd and wondering if i should....... I am quite happy with what i am seeing in terms of transfers etc ... the kick off times and game days are still a joke tho

You're looking at this far to short term. Yes we will miss the Derby income but 10-20 years from now in some sort of euro league set up, being the only club in a city of 1/2 million people will stand us in good stead.

[patlowe]

When will the points deduction be confirmed?

[Geo_1875]

#AllisBarry removed his name from the byline on the "Administrator Vows" story.

Maybe even he realised that was a load of pish from start to finish.

[JeMeSouviens]

This quote is hidden because you are ignoring this member. Show Quote

Can UKIO sell Hearts? Surely all they can sell is the security which amounts to the stadium and the 29.9% shareholding. That's only part of Hearts.

Not yet, but UBIG's indebtedness to the bankrupt UKIO and its own inevitable bankruptcy will probably change that.

[Ozyhibby]

If, as is now being reported, that this is PAYE debt then surely this represents new debt to HMRC. The original agreement to give them time to pay was surely on condition that they did not incur any new debt to HMRC?
Will this not force them into calling in the whole amount?

[jgl07]

This quote is hidden because you are ignoring this member. Show Quote

Not yet, but UBIG's indebtedness to the bankrupt UKIO and its own inevitable bankruptcy will probably change that.

But not before UBIG is in administration and Hearts have a 15-point penalty!

Would it be normal to have the same administrator (liquidator?) for both UKIOS and UBIG in such circumstances?

[CropleyWasGod]

This quote is hidden because you are ignoring this member. Show Quote

If, as is now being reported, that this is PAYE debt then surely this represents new debt to HMRC. The original agreement to give them time to pay was surely on condition that they did not incur any new debt to HMRC?
Will this not force them into calling in the whole amount?

They have actually done part of that already. Hearts defaulted (apparently, although I'm still not convinced) on their PAYE; hence the threat of a WUP was made.

HMRC don't do that to everyone who is late with PAYE. They only do it to those who have bad payment records, or who have an agreed payment plan in existence. Tick and tick.

[Technofob]

[QUOTE=kennyh;3638833]

This quote is hidden because you are ignoring this member. Show Quote

It would be fun to watch FoH splinter and splinter and splinter again as hearts onfield fortunes deteriorate as the 400000 becomes 4000.

I wonder how many of the 4000 fans that FoH claim have pledged to be willing to support them are from genuine pledges from ****s and how many were Hibees who took time out to pledge their support to such a worthy cause ??

I think that number of mugs could be accurate(ish) - the Yamtard in my office who bought shares, renewed his season and pledged money (mair money than sense!!) got 2 e-mails from FoH. The second one apologised for duplicating the first but FoH reckoned that the first e-mail weeded out the fake names, e-mail addresses, the very generous Desparate Dan etc.

He received those e-mails about 3 weeks ago.

But as has been mentioned, how many will actually step up to the newly painted plate?