Share Transfers Agreed/Cooling off period

[Leithenhibby]

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

This was a point ive repeated a few times.

No matter what, David Southern and the rest STOLE fans money, Robertson has now confirmed the share issue was a lie, ticket sales, bake sales and worst of all, up to and including last weekend they were selling ST's to supporters knowing full well they were going into admin this week which is absolutely shocking and surely legally wrong, this is why they continue to throw out the line 'we didnty know and all happened quickly' to avoid the obvious backlash and scrutiny from fans, they just cant seem to see their club has screwed them royaly.

I have no doubt that if this was Hibs and suppoerters had bought shares (or thought we had), bough ST's which are probably worthless we would be kicking the door down for answers or hanging them responsible from the nearest tree!!

This has got to be illegal for him to be part of this "Scam"...

It's one thing fighting for your club, but what he has done is despicable!.. "As no medals would say"

[Leishy1995]

http://t.co/kJqrTsDcQq

[haagsehibby]

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

They'll forever go down in history as the team that died without even a whimper of a protest.

Embarrassing really.

That's a bit harsh. I remember clearly a couple of open letters !!

[Phil D. Rolls]

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

That's a bit harsh. I remember clearly a couple of open letters !!

I'm sure medals MacKay spoke up against him, on the weeks that he wasn't speaking up for him.

Lord Foulkes has had lots to say as well. Most of it has been incoherent.

Callum and Wullie kicked Russian hats whenever TV cameras were present.

The PBS has been a hot bed of resistance since day one IMO.

[Pretty Boy]

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

That's a bit harsh. I remember clearly a couple of open letters !!

Don't forget the 'angry scenes' after the AGM a few years bck.

2 fuds in outdated club leisurewear hugging amd stumbling for about 4 seconds.

It was the Tianenman Square of McLeod Street so it was.

[Sir David Gray]

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

http://t.co/kJqrTsDcQq

If tattoos were transferable, I would gladly have his name put onto my back!

[steakbake]

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

I'm sure medals MacKay spoke up against him, on the weeks that he wasn't speaking up for him.

Lord Foulkes has had lots to say as well. Most of it has been incoherent.

Callum and Wullie kicked Russian hats whenever TV cameras were present.

The PBS has been a hot bed of resistance since day one IMO.

More like a wet bed of resistance. It's been pathetic. Anytime someone dared express concern on KB at the way things were being run, they were shot down by the majority who are complete roasters.

[ian cruise]

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

It's crazy. Supporting a football team is not about just winning things, otherwise we would have all supported one of the old firm. Each to their own I guess, nice to know it won't bother them that much when they die.

Agreed. I wouldn't swap every Scottish cup since 1902 if it meant Hibs were in hearts position. We've had highs and lows but at least we will still be here to give us the chance of winning things. I can't believe they'd rather bicker amongst themselves and try deepen our club rather than save theirs.

[1two]

Remember shortly after Rangers appointed administrators last year a list was leaked showing all their creditors. What's the chances of us seeing something similar for hearts?

[ian cruise]

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

Hilarious

But Stan says he has no regrets about having the tattoo done. He said: “This feels like a divorce after having been in love. I thought Romanov was the man.”

He added: “Romanov went on about bringing in world class players and managers and challenging for honours. It was rubbish. He made an a**e of us.”

He's like a mad lassie who meets some guy and after on date buys a wedding dress. Surely you wait until he's fond what he says before you get the tattoo and laud him as a hero?

[YehButNoBut]

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

He's like a mad lassie who meets some guy and after on date buys a wedding dress. Surely you wait until he's fond what he says before you get the tattoo and laud him as a hero?

Just wondered if any Hibee has a Petrie tattoo.

[CropleyWasGod]

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

Remember shortly after Rangers appointed administrators last year a list was leaked showing all their creditors. What's the chances of us seeing something similar for hearts?

It wasn't leaked. It was a public document, as presented to the Court.

[Phil D. Rolls]

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

Don't forget the 'angry scenes' after the AGM a few years bck.

2 fuds in outdated club leisurewear hugging amd stumbling for about 4 seconds.

It was the Tianenman Square of McLeod Street so it was.

Right up there with the Gdansk shipyard, and the Battleship Potemkin.

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

More like a wet bed of resistance. It's been pathetic. Anytime someone dared express concern on KB at the way things were being run, they were shot down by the majority who are complete roasters.

Four legs good, two legs better.

Still, 1-5, 1902...all worth it.

[SmashinGlass]

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

Remember shortly after Rangers appointed administrators last year a list was leaked showing all their creditors. What's the chances of us seeing something similar for hearts?

It'll come out when the admins send their proposals document out to creditors. Will be a few weeks (anything up to 10 weeks), but it will be made public, as the documents require to be filed at Companies House and the Court.

[21.05.2016]

What has to happen now for liquidation to occur? How long would it take for them to get entered into liquidation if they are to do so?

[Phil D. Rolls]

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

Fixed that for him!

Attachment 10365

http://m.youtube.com/watch?v=QjgE4kNSU74

[YehButNoBut]

Just reading this article in the DR about Trevor Birch and how he is seen as a hero at Portsmouth and was cheered onto the pitch for saving their club. To me the Hearts situation seems similar to Portsmouth (although hopefully Hearts will be a lot worse once they get to examine closer) so could they end up in a similar outcome.

Portsmouth still exist but have slipped down the leagues and are now in the bottom tier of English football, can see Hearts going the same way.

Also did notice that the Portsmouth administration took 14 months.

http://www.dailyrecord.co.uk/sport/f...-trust-1968803

Hearts in crisis: Jambos can trust BDO administrator after he helped save us, insists Portsmouth supporters' chief

TREVOR Birch of BDO is one of the men tasked with saving the Tynecastle club - and he has good form having played a key role in the fans' takeover at previously crisis-torn Pompey.

HEARTS fans fearing for the future may take some comfort from administrator Trevor Birch’s past.

It’s fitting that yesterday of all days saw the financial troubleshooter walk into Tynecastle for his first look at the club he is now charged with the heavy burden of saving. For exactly two months to the day, Birch handed over the keys to Portsmouth’s Fratton Park to leaders of the fans group he helped to take over the club they loved in its darkest hour.

Next day he was cheered on to the pitch by an adoring home crowd in recognition of his key role in wrestling the club from the clutches of owner Balram Chainrai. Now the Foundation of Hearts must hope Birch can show the same resolve and know-how to help them negotiate the muddy financial waters of a buy-out. It wasn’t an easy road for Birch during the 14-month admin process, especially with Chainrai striving to reclaim control of Pompey for a third time and the war of words becoming increasingly dirty.

Yet Birch stood firm and Supporters Trust member Colin Farmery said: “It’s fair to say Trevor Birch will never have to buy his own drink in Portsmouth again. There is a great deal of goodwill in this town towards him for the job he did. “Hearts fans should be reassured by his appointment as administrator. He has football credentials, both as a player and an administrator. “And he is a fair-minded man who stood up for the club in an extremely complicated situation.

“Trevor had to go out on a limb for what he believed was best for the creditors and the club, despite a number of conflicting outside pressures. “In the early stages he was sceptical whether we could deliver but once he was convinced that our community bid was serious, he worked hard to support us. “He will bring the knowledge he gained at Portsmouth and his experience of helping to deliver the biggest community ownership bid in Britain. “Hopefully that experience will benefit the Foundation of Hearts as they try to put together their own bid for fan ownership.”

Specialising in insolvency, Birch became chief executive of Chelsea in 2002 when the club had a debt burden of around £80million. He played a key role in putting together the £140m Roman Abramovich takeover in 2003 that wiped out most of the club’s debts. Birch, believing his work was done, then decided to resign. In October 2003, he was appointed chief executive of Leeds United, another club with high debts, and was briefly chairman.

He helped the club avoid administration, and oversaw another takeover before moving on to Everton in June 2004 to become their chief executive. He has since held chief executive roles at Derby and Sheffield United before joining BDO. The fact he is working in partnership with Bryan Jackson is another boost for Hearts, according to their former manager Jim Jefferies.

His current role in charge of another administration-hit club Dunfermline has put Jeff in close contact with Jackson. The Pars boss said: “When I’ve worked with Bryan he has been good.

“I have spoken a lot to Gary Locke recently and I told him exactly what to expect. He will find Bryan very professional in what he does.”

[Mr White]

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

How would he know how bad things are until he gets his feet under the table? I recall the rangers last year as the admin started pealing the onion!.........

My gut tells me that they are about to step on a hornets nest

I suspect you're right but I think the administrator meant that as there are a number of ways this could pan out he feels there is potential for the club to be saved/relaunched/whatever. I was just stating that I don't see his comment as contradictory.

[Sylar]

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

Please tell me that's not real.

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

If that is real then Jack Alexander has lost the plot. Totally.

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

Did you make that up yourself? If so, it's not a credible spoof of the real Jack Alexander, unless he's recently suffered some sort of neural event.

Apologies for the tardy response - was en route to Brussels yesterday and didn't have frequent access to the web.

No, it's not made up by me and was a genuine letter published in the Scotsman yesterday (or Monday).

I was utterly dumbfounded when reading it though

[Kato]

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

Just reading this article in the DR about Trevor Birch and how he is seen as a hero at Portsmouth and was cheered onto the pitch for saving their club. To me the Hearts situation seems similar to Portsmouth (although hopefully Hearts will be a lot worse once they get to examine closer) so could they end up in a similar outcome.

Portsmouth still exist but have slipped down the leagues and are now in the bottom tier of English football, can see Hearts going the same way.

Also did notice that the Portsmouth administration took 14 months.

Portsmouth went into admin mid-season, when there was money coming in to keep the club running. Hearts have zero liquid cash just now. The biggest immediate danger to them is the timing of going into admin.

[jacomo]

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

You would think this erse would be better keeping a low profile


http://www.dailyrecord.co.uk/news/sc...manovs-1968719

Yeah but at least this moron has a better understanding of the situation than many of his fellow Yams:

“Romanov went on about bringing in world class players and managers and challenging for honours. It was rubbish. He made an a**e of us.”

[stokesmessiah]

It appears the biscuit tin is empty.

http://www.bbc.co.uk/sport/0/football/22979684

[Craig_in_Prague]

http://www.scotsman.com/news/hearts-...nced-1-2972133

Could be some redundancies announced today,
but cutting costs IMO is not really going to help that much, they need lots of cash coming in - and very soon.

"He conceded that liquidation was “always a possibility” adding: “The biggest problem is the present cashflow, keeping the doors open. Obviously there will be redundancies and that’s a nightmare situation for those people"

“But even for the people being kept on there’s real concern and they will be worried, and at the moment we can’t give any promise as to how we’re going to fund the ongoing wages.”

[Spike Mandela]

We would do well to ignore papers, tv reports and radio broadcasts about the Hearts situation for the next few months as it is going to be full of emotional blackmail and untruths. Getting to the little nuggets of reality in the media will be difficult.

Lots of.............. 'long suffering fans', 'death of Scottish football', ' a Scottish institution', 'incompetent authorities', 'new consortium showing interest', ' John Robertson says...', 'George Foulkes says....', 'club has been punished enough', 'CVA must be agreed', 'the stadium is worthless and must be sold for peanuts', 'better to accept CVA and get something than liquidate and get nothing'......... guff to put up with.

It's hard to ignore but if we can let's concentrate on Hibs going forward, back in Europe, season tickets up and forget about the sordid little world of bad debtors, fraudsters and cheats going on over the road.

[SlickShoes]

As much as I want them to go under I'd have no qualms with an administrator fixing their club for them, the fans need to realise that they won't be the "third force" though, they will be paying minimal wages, much less than everyone else. Currently they all seem to think that once the debt is cleared they can go back to outspending everyone else in the SPL bar Celtc, Hearts on a budget is a totally different prospect to Hearts on steroids, which is what we have seen for the last 20 years.

[Peevemor]

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

It appears the biscuit tin is empty.

http://www.bbc.co.uk/sport/0/football/22979684

"It's as bad a situation as I've ever come across and it's not helped by the timing, getting the appointment in June when there is no income,"

They are the big team after all.

[YehButNoBut]

Hearts: Job losses to come after move into administration

Hearts staff are to learn of job losses on Thursday morning, with administrator Bryan Jackson revealing the club has "no funds at all to meet costs".

http://www.bbc.co.uk/sport/0/football/22979684

"Job losses are inevitable," he told BBC Radio Scotland. "We need to cut costs as quickly as we can.

"I think there will be losses on the footballing side, although that has already been pared down quite a bit."

"We are desperately looking at ways of bringing in some income. Unfortunately, probably the only real way of doing it is to make the usual plea to supporters.

"There is nowhere else to go really, apart from trying to sell players."

Hearts fans raised close to £1m in a share issue last season, as the club strove to find money owed to the tax authorities.

The Edinburgh outfit employ 131 staff in total, including 26 first team players.

"We intend to speak to all of the staff at 11:30 to let them know what the position as far as we can at this point," Jackson added.

"Unfortunately, there will be redundancies. Even for the people staying on there are real worries. We can't give any promises on funding for wages."

The bulk of Hearts' debt is owed to Ukio Bankas and UBIG, Lithuanian companies formerly owned by Vladimir Romanov, who established a controlling interest in the club in 2005.

However, Romanov's business empire has collapsed, with Ukio Bankas also in hands of administrators, while UBIG's assets have been frozen.

"Most of the debt is due abroad and, with their support, a CVA [Company Voluntary Arrangement] is achievable," said Jackson.

"There is a security on the ground that has to be realised but we are hoping that can be done as part of an overall deal with a CVA, so that the actual ownership of the shares will change and the club will come out at the other end.

"The biggest problem at the moment is cash flow and keeping the doors open.

"There are obviously potential buyers out there, whether they come good is out of control.

"We will be meeting the interested parties as quickly as we can.

"These situations are very fluid, so I don't like to put a timescale on it. It's a day-to-day situation.

"But the next week or two are really crucial because we don't have any funds at all to pay any costs."

Jackson also said that there would be an appeal to fans of the Edinburgh club to help address the current plight.

"It's as bad a situation as I've ever come across and it's not helped by the timing, getting the appointment in June when there is no income," he explained.

[Leithenhibby]

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

I suspect you're right but I think the administrator meant that as there are a number of ways this could pan out he feels there is potential for the club to be saved/relaunched/whatever. I was just stating that I don't see his comment as contradictory.

Nor do I.

Just can't wait for the onion pealing to start though........

[AngusHibby]

http://www.dailyrecord.co.uk/news/sc...manovs-1968719

“This feels like a divorce after having been in love. I thought Romanov was the man.”

Hearts fan sees the light and gets Romanov tattoo removed

[Sanger]

Administrator admits only donations from the fans will save Hearts from liquidation as no income coming in to service the bare bones running of the club. Are the Jimbos up for it again? Ready to throw away more money? We'll see how much the club really means to them now! RIP