Share Transfers Agreed/Cooling off period

[FranckSuzy]

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Don't make a difference, if a pig is born in a racehorse stable it's still a pig.

[Hibrandenburg]

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Old German saying, normally used the other way round but inverted quite fitting in this case.

[SunshineOnLeith]

To save on postage, the strips are going to be sent out with the share certificates, pretty shrewd really.

[Treadstone]

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Old German saying, normally used the other way round but inverted quite fitting in this case.

Always liked the Italian saying "If my uncle had three balls he would have been a pinball machine"

[SmithyHibee]

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To save on postage, the strips are going to be sent out with the share certificates, pretty shrewd really.

And if you didn't buy a strip you dinny get a certificate and your shares are worthless ...... Oh wait they're worthless anyway!

[Sylar]

Have these maroon-tinted media welts learned nothing from what happened to Rangers?

All the crying about 'Big Club', 'proud history', 'too big to go down', 'irreparable damage to Scottish football' blah blah blah done absolutely bugger all to save Rangers and from a commercial point of view and historical point of view, there was a much clearer argument (if indeed the word clear can be applied) for saving them (not that they deserved any special treatment or saving either I hasten to add!).

You only have your collective selves to blame for your apathy, inaction and arrogance. Bend over and suck it up!

[Black Kyle]

Don't ask me why, I just fancied seeing what their position would be with accepting money from fans...............outcome below from the PR Manager.

My online query stated that my son and his pals had raised funds for an animal charity by selling stuff on Ebay but now wanted to donate given the 'dark days' etc

From: Clare Cowan

Hi Davie
Thanks for your email
On our website there is a “click here to donate button”, which may be easier than writing / posting a cheque.
Many thanks in advance for your donation.
Your support is appreciated.
Kind regards
Clare


Tick tock

[Viva_Palmeiras]

IM: Today is the Club's darkest day....

Journo: But the papers ain't signed...

IM: Emmm. Today will be a bit overcast with some storm clouds forming
But Wednesday, Wednesday will be the darkest day

Robbo: What about the golf medal followed by cake bake?

IM: Crap - Thursday, yes, THURSDAY will be the Club's darkest day

Journo: Will that be darker than when the club is liquidized?

IM: Good point. The day the club is liquidatized, liquiditied, liqu- the they the club is fffffffd will be the Clubs darkest day.

Journo: But will it be darker...

IM: OK I'm a bad person, yeah real bad. Look just give us yer ffffffing money now.
No I don't know what we're gonna do with it none of us have a scooby - the darkness makes it complicated but Barry is dealing with it ok? Robbo - where's the Whisky decanter? .... No! That too!!!!

[Treadstone]

I've got to say the photoshopping on the avatar is first class. Never even knew Vlad smoked.

[Hibby Kay-Yay]

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I've got to say the photoshopping on the avatar is first class. Never even knew Vlad smoked.

It's not photoshopped

[Hibrandenburg]

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I've got to say the photoshopping on the avatar is first class. Never even knew Vlad smoked.

Thought he was an anti smoking vegetarian like all good dictators

[Hibercelona]

The amount of seethe on their "bitterness" thread.

[Oscar T Grouch]

While I am all for having fun at the expense of the yams, we should remember that there are ordinary people working there for them. While I have no sympathy for the team or support, I do empathise with the ordinary admin staff and the like, having been made redundant a few times in my life. these folk won't necessary be yam supporters, when they get made redundant they will have to apply to the DWP for the outstanding wages due to them by HoMFC, this isn't always paid quickly leading to bank charges and the like for unpaid direct debits etc and like most admin staff they will be barely above minimum wages.

Just saying we should understand their plight at this time, fek the team and support but lay off the admin staff, I knew a Hibbie that used to work for them, cause it was the only job she could get at the time. You never know there might be a Hibee working there doing a ****ty admin job with the prospect of them not getting their wages next week.

[greenginger]

http://translate.googleusercontent.c...VPff776afWViYA

Lith. media not at all confident of any progress.

[Sanger]

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Can HMFC be separated from Tiny without liquidation? Could Ukio's liquidator take the ground and HMFC's administrator sell the rest of the club (player registrations, SPL/SFA shares, etc) to the FoH?

I believe HMFC have put this proposition to the SPL in the form of a ground change. The bidder could line up a buyer for Tynie and include the funds from the sale in the bid. Buy the whole club notify the SPL or a ground change. Rent a new ground and hand over Tynie to the buyer.

[Since90+2]

Vladimir Romanov Vladimir Romanov Vladimir Romanov Vladimir Romanov Vladimir Romanov Vladimir Romanov

[Springbank]

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Yes that is my view and always has been. No bidder is real or has the money to come close to what the Ukio Bankas's administrators believe they can obtain from the selling the stadium on its own for property development. This will mean a liquidation sale. I predicted liquidation for RFC when they went into administration in February 2012. This is a different but equally complex situation if not more. HMFC will completely disappear for a period but comeback into Div 3 as new company at some point in the future. The risk for the SPL and it is very high that they cannot even begin to fulfill their fixtures never mind see them out for next season. Of course nobody believed the Hobo economists on here because they were too thick or deluded. An aware SPL would have given them the 18 points penalty on UBIG's self-insolvency and given the problem to SFL.

If only anyone knew of a supermarket that had (very recently) shelved their plans for a supermarket in the Chesser area.

Perhaps with a view to picking up a tastier opportunity 1.5 miles nearer the city centre?

http://www.scotsman.com/edinburgh-ev...-out-1-2965233

Source: the EEN. AllisBarry

[Sanger]

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I believe HMFC have put this proposition to the SPL in the form of a ground change. The bidder could line up a buyer for Tynie and include the funds from the sale in the bid. Buy the whole club notify the SPL or a ground change. Rent a new ground and hand over Tynie to the buyer.

But would still need money to pay off tax man and run the club next season. So they need about £6m. £2m for Hearts, £2m for tax debts and £2m to run club next season.

[Viva_Palmeiras]

All we hear is [clap,clap]
Vladimir's goo-goo [clap,clap]
Vladimir's ga-ga [clap,clap]

All we hear is [clap,clap]
Vladimir's goo-goo [clap,clap]
Vladimir's ga-ga [clap,clap]


Vladimir what's new?
vladimir Hibees all love you!

[EH6 Hibby]

Should we not have heard who the administrator is by now?

[DaveF]

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But would still need money to pay off tax man and run the club next season. So they need about £6m. £2m for Hearts, £2m for tax debts and £2m to run club next season.

Would the tax debt not disappear when Administration is confirmed? I thought hector was out the picture and the Lith's had 1st dibs on any monies generated from a sale?

[DaveF]

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Should we not have heard who the administrator is by now?

Tomorrow, according to desantos post earlier on.

http://www.hibs.net/showthread.php?2...=1#post3646343

[Waxy]

I'll never have to hear that way doon in gorgie song ever again.(because it will be a branch of morrisons or the like)
Oh how i hate that song.That's for starters
Cant think of any cons just now.

[Hibs07p]

... on now.

http://www.bbc.co.uk/sport/0/scotland/17325775

[YehButNoBut]

Who else do they owe money to, anyone know.

Perhaps we could create a list.

http://local.stv.tv/edinburgh/magazi...dministration/

In the grander scheme of this, it seems a paltry amount. Just £17,416 and 80 pence. But the significance shouldn’t be overlooked.

The figure is the exact amount that remains unpaid to the Scottish Police Authority by Hearts FC for policing their last four home games at Tynecastle. Alongside the mountain of debt owed to Ukio and UBIG, thought to be in the region of £23m to £25m, it is inconsequential in itself. But when the arm wrestling over who gets to be Administrator for the club finally ends, it will beg the question, how many more debts like this will they find? That is the warning Foundation of Hearts, through the increasingly impressive chairman Ian Murray MP, have been issuing to supporters while calling for patience as they seek to conduct due diligence.

They are, of course, concerned about what they might find when they go through the club’s books. Are there any unexpected (and unwanted) surprises to come? Mr Murray told a public meeting of 300 Hearts fans on Friday night: “We’ve only got what anybody else has. We’ve only got what is in the public domain and what people are telling us.
“In terms of due diligence, it would have to be done. That due diligence isn’t going to be quick. “To be honest, we’re worried about opening some drawers – and worried about what we might see in them. There is a long, long process to go before any transfer of ownership happens. “But certainly, if we get a bid on the table, that’s the biggest hurdle.”

And their caution may be well placed.

In a statement to STV Local, commanders at Police Scotland confirmed that the club was in debt to the Scottish Police Authority - the organisation responsible for the finances of the force - and they would expect to be working with the administrator with regards to any future policing requirements. A Police Scotland spokesman said: “As at June 18, 2013, Heart of Midlothian FC went into administration owing the Scottish Police Authority £17,416.80. “This effectively covers the contribution to the policing costs of the club's last four home games of the season. “The matter is now in the hands of the administrator and we will liaise with the administrator as appropriate."

The fact that the club had no role in Europe means there is no outstanding debt with their official travel partner TMG Sport.

Some of their other commercial friends, only too well aware of the precarious state of the club, have had the nous to call on payment up front before agreeing to offer their services. However, while bigger companies may be looking out their invoices to see what is owed to them, it’s the smaller businesses that sit in the shadow of Tynecastle that are also concerned about the future.

Khalid Mohammed has owned a newsagents on Gorgie Road for around 30 years and, while Hearts may be in the early days of administration, he is concerned what it may mean for him if it continues down the path towards liquidation. The 52-year-old said: “We depend on it. It will become a ghost town. It brings in a lot of trade when there’s local games on. “If they were to be liquidated, that would kill the whole of Gorgie Road I reckon. Things are hard in enough at the moment – we are struggling as it is. If less people were to come into the area, it would devastate a lot of shops on Gorgie Road.”

Not too far away is Colin Nicoll in his butcher shop. Colin started the business only seven months ago and already knows the impact it could have if Hearts were unable to find a way out of their current predicament. "Gorgie Road will die a death without Tynecastle," he said. "Most of my customers are Hearts supporters. We sell a lot of pies on match days to guys going to the football. We get a couple of hundred extra each match day - it adds up to nearly £1000 extra every month. "We will just have to wait and see what happens just like everyone else."

For Callum Anderson, owner of the Dickens pub, his passion for Hearts would see him take the many fans that frequent his pub on match days to wherever the Jambos were playing if they had to leave Tynecastle. Callum, who said he would arrange buses for fans if they had to travel elsewhere, said: "There will be the same amount of Hearts fans that will go to the games."It's not important what happens to my business, it's what happens to Hearts that's important."

All fans and businesses alike can do is play the waiting game to see what the future holds for the 139-year-old club.

But those eager to set about constructing a bid will have to wait on the administrator drawing up a full list of creditors to see the true extent of the damage.

[Hibstrooper]

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But would still need money to pay off tax man and run the club next season. So they need about £6m. £2m for Hearts, £2m for tax debts and £2m to run club next season.

I could see this working for them. They would probably need to rip up season tickets however would generate a proportion of operating costs from that plus other revenue streams to easily reach £2m, it's the £4m up front that they may struggle with.

However would tax debts not be wiped out because of admin and is the name of the club worth £2m on its own?

[joe breezy]

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The amount of seethe on their "bitterness" thread.

It's brilliant; "we are the big team, we are the big team" clearly they have small penises

[Gus Fring]

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The amount of seethe on their "bitterness" thread.

Just had a read whilst sat on the train. They really do not get it at all. It's not bitterness, it's vindication.

This "5-1" crap is the same as Lance Armstrong saying "Well I won 7 tour de frances in a row". Both parties are now facing their comeuppance.

[Sanger]

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Would the tax debt not disappear when Administration is confirmed? I thought hector was out the picture and the Lith's had 1st dibs on any monies generated from a sale?

To reduce the tax bill they need a CVA an agreement from all creditors. Liquidation would see the secured creditors paid first leaving HMRC at bottom of the queue but also mean HMFC were wound up and a newco applying for div 3 which I think is the mostly likely outcome.

[Sanger]

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Tomorrow, according to desantos post earlier on.

http://www.hibs.net/showthread.php?2...=1#post3646343

Yes that was from the press association. They need to get the finger out before HMRC winds them up!