Share Transfers Agreed/Cooling off period

[Iain G]

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Glenfarclas, 10, 12,15 or 18year old. recommended. and don't add water

What about the 105?!?

Aberlour A'Bunadh; Lagavulin 16; Bunnahabhin anything

[monktonharp]

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What about the 105?!?

Aberlour A'Bunadh; Lagavulin 16; Bunnahabhin anything

been a fan o' glenfarclas for many's a year but 105? nah, burns the throat if ye take it raw! not recommended. spent a fortune buying it in duty free, only to find it was mair like pocheen

[grunt]

http://www.15min.lt/en/article/busin...ars-527-345583

[Denverhibby]

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been a fan o' glenfarclas for many's a year but 105? nah, burns the throat if ye take it raw! not recommended. spent a fortune buying it in duty free, only to find it was mair like pocheen

30 yr Talisker the best

[Drummer]

Hearts in administration reminds me of an old song. The Muckin "o" GORGIES byre

[Time For Heroes]

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Just back from a weekend away. What sublime news

Just landed in Hawaii, stuck on Hibs.net and seen the news!
Awesome way to start a holiday!
To everyone connected with Hearts, thanks!

[deek]

They were offered the dosh but turned it down!!

http://www.bbc.co.uk/sport/0/football/22963110

[green day]

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They were offered the dosh but turned it down!!

http://www.bbc.co.uk/sport/0/football/22963110

In the BBC story, there is a Q&A which mentions selling assets including their Rickarton training base.

Just goes to show that these BBC journos just regurgitate keech like BAnderson.

[...WentToMowAnSPL]

Scary or Pleasing?
Hearts going into liquidation and life as a newco is inevitable, says former colleague of Vladimir ... http://t.co/3RoiSxWWPT

[ronaldo7]

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Scary or Pleasing?
Hearts going into liquidation and life as a newco is inevitable, says former colleague of Vladimir ... http://t.co/3RoiSxWWPT

I hope the *******s rot in hell.

[Part/Time Supporter]

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They were offered the dosh but turned it down!!

http://www.bbc.co.uk/sport/0/football/22963110

£500k, only on condition that the club wouldn't go into administration and that they could share profits from selling players.

There's no way that the directors could have guaranteed that the club wouldn't go into administration eventually. £500K would have eased their immediate crisis, but they would have just faced the same problem in 3 months or so. Just as the £1M raised by the fans eased the crisis last autumn for a few months.

Sounds like more timewasting / grandstanding by the Scandinavians, TBH. They would have known full well that the Hearts management would not take that offer.

[marinello59]

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£500k, only on condition that the directors guaranteed that they wouldn't go into administration and that they could share profits from selling players.

There's no way that the directors could have made that guarantee. £500K would have eased their immediate crisis, but they would have just faced the same problem in 3 months or so.

Sounds like more timewasting / grandstanding by the Scandinavians, TBH. They would have known full well that the Hearts management would not take that offer.

They also wanted to know the full extent of the debt at Tynecastle. Maybe the current board simply can't provide answers on that.

[...WentToMowAnSPL]

Ouch ...

[ronaldo7]

Picked up from KB on a thread about Jamie Walker

And they wonder why they've got themselves into soooo much bother.



"Don't know the original poster fro Adam but he isn't far off the mark.

Jamie is now back from his holiday in Egypt.

He was expecting to sign a new deal at £2500pw which is I would imagine is now off the table.

Wigan and Huns are the two teams I was told as well."

[Beefster]

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In the BBC story, there is a Q&A which mentions selling assets including their Rickarton training base.

Just goes to show that these BBC journos just regurgitate keech like BAnderson.

Brian McLauchlin has shown himself to be completely out of his depth with Hearts' financials.

[Hibs07p]

..... at this rate, the UKIO administrator will have to pay FOH to take Tynie of their hands.

Foundation chairman Ian Murray MP warned Valnetas that there would have to be a compromise over their twin desires to preserving Hearts as a going concern and defending the interests of Ukio’s creditors. “They did say that they wanted Hearts to be a going concern – they have to protect what they have got,” he said. “What do they have at the moment? They have a club in administration and a stadium worth £4m.

“They can whistle in the wind, really. They have to be careful that they don’t walk away with nothing and take the club with them.”

http://www.scotsman.com/edinburgh-ev...fate-1-2970172

To be fair, I suppose the stadium is worth less than £4M, but the land value is worth a wee bit more.

GGTTH

[...WentToMowAnSPL]

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.....
“They can whistle in the wind, really. They have to be careful that they don’t walk away with nothing and take the club with them.”

'Whistle in the wind '.. Apparently is a complex negotiating term to be used when trying to persuade a foreign bank not to sell your land and sell your players but I wouldn't understand #allverycomplex

The yams have really landed on their feet with this bright cookie

[bingo70]

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..... at this rate, the UKIO administrator will have to pay FOH to take Tynie of their hands.

Foundation chairman Ian Murray MP warned Valnetas that there would have to be a compromise over their twin desires to preserving Hearts as a going concern and defending the interests of Ukio’s creditors. “They did say that they wanted Hearts to be a going concern – they have to protect what they have got,” he said. “What do they have at the moment? They have a club in administration and a stadium worth £4m.

“They can whistle in the wind, really. They have to be careful that they don’t walk away with nothing and take the club with them.”

http://www.scotsman.com/edinburgh-ev...fate-1-2970172

To be fair, I suppose the stadium is worth less than £4M, but the land value is worth a wee bit more.

GGTTH

"They have to be careful they don't walk away with nothing"

Is that not pretty much impossible? At the very least they'll be able to sell tynecastle

[Gatecrasher]

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Brian McLauchlin has shown himself to be completely out of his depth with Hearts' financials.

over the last year the media in general have made complete ***** of themselves between this and the Rangers one. Thanks to a few folk on here like Sergey, CWG, Cav, Desantos and a few others who keep us informed.

[Viva_Palmeiras]

image.jpg
"Barry you're out of your element - the Scandinavian is not the issue here"

[Kaiser1962]

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ok, while we're at it, have they/will they paty the council tax/rates? who empties their buckets?

Nothing, prior to Hearts going into administration, will now be paid and anyone owed money just gets in the queue. Given that UKIO have a security on the stadium and a floating charge on the assets if they are expecting any sort of payout they will be disappointed. I do expect the queue to be a lengthy one and the list of creditors will be interesting.

Any expenses incurred between entering admin and exiting it will, ultimately, be paid by the buyer.

[s.a.m]

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Hearts in administration reminds me of an old song. The Muckin "o" GORGIES byre

Have you got a tune for that?

[joe breezy]

If the editors had any brains they'd get business journalists not sports journalists on these stories...

[Treadstone]

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Scary or Pleasing?
Hearts going into liquidation and life as a newco is inevitable, says former colleague of Vladimir ... http://t.co/3RoiSxWWPT

"With debts now touching £25m..."

That horse has bolted and we can now assume nearer the £30m mark or even beyond.

[Treadstone]

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image.jpg
"Barry you're out of your element - the Scandinavian is not the issue here"

"Who's the Scandinavian Dude ?"

[Part/Time Supporter]

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Nothing, prior to Hearts going into administration, will now be paid and anyone owed money just gets in the queue. Given that UKIO have a security on the stadium and a floating charge on the assets if they are expecting any sort of payout they will be disappointed. I do expect the queue to be a lengthy one and the list of creditors will be interesting.

Any expenses incurred between entering admin and exiting it will, ultimately, be paid by the buyer.

That's not right either. The administrator fees are paid by the buyer, but the company has to generate enough income to pay for its ongoing costs incurred from the date of administration. One way of doing that is to cut the ongoing costs by laying off staff.

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"With debts now touching £25m..."

That horse has bolted and we can now assume nearer the £30m mark or even beyond.

Jambo myth of the week seems to be that "Romanov left us £25M debt, which was the same as the Pieman".

Which is true, if you ignore the fact that the Pieman left them with just under £20M in debt. And the fact that he had done a deal to get rid of that debt. Which they then very publicly opposed.

[bingo70]

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That's not right either. The administrator fees are paid by the buyer, but the company has to generate enough income to pay for its ongoing costs incurred from the date of administration. One way of doing that is to cut the ongoing costs by laying off staff.

They've not got any income just now at all so is it fair to say this is likely to be a very quick administration then? I just don't see how they'll pay bills when they come in, even if they get rid of every employee.

[CyberSauzee]

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They've not got any income just now at all so is it fair to say this is likely to be a very quick administration then? I just don't see how they'll pay bills when they come in, even if they get rid of every employee.

About to say the same bingo. They've no money to pay staff now. Liquidation looming?

[Part/Time Supporter]

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They've not got any income just now at all so is it fair to say this is likely to be a very quick administration then? I just don't see how they'll pay bills when they come in, even if they get rid of every employee.

I don't think it will work that way. New bills won't hit for at least a couple of weeks (not much point sending them one now), which will give the administrator a little bit of time to assess things - is there a realistic buyer, can they sell (Lithuanian legal situation), what income is there really, etc. If they can get through to the end of July then it could drag on for a longer period with the SPL income paid out.

[Hermit Crab]

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About to say the same bingo. They've no money to pay staff now. Liquidation looming?

Hopefully.