Share Transfers Agreed/Cooling off period

[lapsedhibee]

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BDO was appointed by the main creditor, who must surely have given them an indication of what sort of offer would be acceptable. They've also met with the main potential bidders.

Can't believe BDO would be going through all of this short term cash-raising if there was little/no chance of a bid being accepted.

Does anyone think they might be doing short-term cash raising to cover their own fees?

[Saorsa]

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Does anyone think they might be doing short-term cash raising to cover their own fees?

CWG will be along tae give you a row shortly as he'll be getting p'd of typing the same thing. They winnae get their fees until it is sold one way or the other.

[Part/Time Supporter]

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BDO was appointed by the main creditor, who must surely have given them an indication of what sort of offer would be acceptable. They've also met with the main potential bidders.

Can't believe BDO would be going through all of this short term cash-raising if there was little/no chance of a bid being accepted.

That doesn't mean it's a racing certainty, either.

From the Lithuanians' point of view, the best outcome is that somebody comes forward with a good offer (ie the land value of the property) to continue Hearts as a going concern, because it negates any hassle from people who would resist Hearts being shut down. Therefore they have to put the club on a reasonably solid footing by reducing costs, which they did, and then make it as attractive to buyers as possible within those limits, which they are also doing.

If they just cut everything out of sight, got rid of all the experienced players and had a squad of kids, nobody other than FOH would want to buy it. This would be self-defeating and they would have been just as well liquidating on day one. What they have done is maintained some outside interest, which they hope will lead to a good enough offer being made. The problems get worse for Hearts if all of the offers fall well short of the land value of the property.

[sidneyhibbie]

I Am not accepting that the rules have been folowed i will be contacting http://www.insolvency-practitioners....dance/scotland today to report BDO.

The creditors best interest are what BDO Should be working for and increasing the costs outlay is not in the creditors interests i am raging about this. They will not get away with this.

[Lucius Apuleius]

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I Am not accepting that the rules have been folowed i will be contacting http://www.insolvency-practitioners....dance/scotland today to report BDO.

The creditors best interest are what BDO Should be working for and increasing the costs outlay is not in the creditors interests i am raging about this. They will not get away with this.

Go Sidney!!!!

[Part/Time Supporter]

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This is where football is different I suppose. The money saved could have gone to the creditors but they have chose, instead, to sign another player and the argument for this, being speculated upon here, is that it may increase the value of the club, make it more attractive to a buyer or increase the sales of seasons tickets.

My question would now be how do they quantify any of those things?

Something smells worse than usual down gorgie way. All IMO of course.

Any wages spent on Wilson (that were earmarked for Sutton anyway) wouldn't have gone to the creditors as at the date Hearts entered administration. The funds that go to creditors will come from however much the buyer is willing to pay. The wages that Wilson is paid will have to be generated from the income the club earns during (and possibly after) administration.

I can understand why folk may be suspicious of their activities and motives given the way they have been administered in recent years, but folk have to realise that those responsible are no longer involved directly. They are now in an effort to survive. It's up to BDO to assess whether a deal helps to achieve this objective.

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I Am not accepting that the rules have been folowed i will be contacting http://www.insolvency-practitioners....dance/scotland today to report BDO.

The creditors best interest are what BDO Should be working for and increasing the costs outlay is not in the creditors interests i am raging about this. They will not get away with this.

A complete waste of your time. If BDO have reason to believe signing Wilson will help in attracting an offer that is acceptable to the creditors, then BDO will have acted in the best interests of the creditors.

[Waxy]

Surely anyone wanting to buy hearts would get them much cheaper after liquidation?
This may be the way buyers will go

[CropleyWasGod]

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Surely anyone wanting to buy hearts would get them much cheaper after liquidation?
This may be the way buyers will go

They might get them cheaper, but without any guarantee that they would be in the SPFL, not even in the bottom division, and no guarantee that there would be any players left.

[CropleyWasGod]

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Does anyone think they might be doing short-term cash raising to cover their own fees?

You'll get a slap for not reading EVERY SINGLE FREAKING POST ON THIS THREAD, YOUNG MAN!!!!!!

Ahem.

What DD says.

[CropleyWasGod]

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I Am not accepting that the rules have been folowed i will be contacting http://www.insolvency-practitioners....dance/scotland today to report BDO.

The creditors best interest are what BDO Should be working for and increasing the costs outlay is not in the creditors interests i am raging about this. They will not get away with this.

As PTS says, their belief is that they ARE working on behalf of the creditors. Any complaint by you might be best left until after the administration is complete, so that you can see the whole picture.

And, point of order, they haven't increased the costs. They have, apparently, replaced one player (Sutton) with another, who is probably cheaper.

You might want to read this first:-

http://www.richardlong.co.uk/corporate.html

[vincipernoi]

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400,000 people helping the police with their inquiries.


Seriously though, just like the Jambos to sabotage their own positive thread with yet another sex crime.

fatbeardyjambopervgate coverup


- post 71 and subsequent chat about it been deleted/suppressed on kickback

[Treadstone]

In honour of Billy Brown.

Jamie Borthwick ‏@jamiekborthwick6m
Billy Brown confirmed back at Hearts, taking no wage as assistant manager #notsostrugglin http://sport.stv.tv

[Treadstone]

http://sport.stv.tv/football/clubs/h...ocke-for-free/

[MWHIBBIES]

Back where he belongs

[StevieC]

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BDO was appointed by the main creditor, who must surely have given them an indication of what sort of offer would be acceptable. They've also met with the main potential bidders.

Can't believe BDO would be going through all of this short term cash-raising if there was little/no chance of a bid being accepted.

My thinking is that those involved will be thinking along the lines of a consortium bid for control with FoH funding the monthly costs for the coming season.

This would give BDO hope that there could be a deal struck.

The problems for this though would be all parties agreeing, and I suspect that this would be close to impossible. The McKie group have stated that they want out of administration before the start of the season, to strengthen the side and avoid relegation. FoH have no real idea how much they will actually have, or for how long. FoH will want a level of fan control for their support, would a consortium allow this?

So it's possible that BDO will be holding out hope for a deal, but it is going to require a lot of boxes to be ticked before it actually happens.

[Bobby's Cinema]

this news does not sit right

[YehButNoBut]

On Hearts website as well, probably hoping he'll get an offer if they come out of admin ok.

http://www.heartsfc.co.uk/articles/2...241384_3224940

[lapsedhibee]

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CWG will be along tae give you a row shortly as he'll be getting p'd of typing the same thing. They winnae get their fees until it is sold one way or the other.

[Waxy]

Waahaaaay.
Lads.Ye might no be very good but as long as ye try thats aw that matters.
disney bother me.
av been places and done things.
Right

[SMAXXA]

Personally couldn't give a toss what they do and couldn't care if they have signed Wilson, so what. Its still another hefty wage even at 50% cut that they cant afford to pay.

[lapsedhibee]

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Waahaaaay.
Lads.Ye might no be very good but as long as ye try thats aw that matters.
disney bother me.
av been places and done things.
Right

Did Billy ever reveal what places he was referring to? Falkirk? Bradford?

[Treadstone]

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Did Billy ever reveal what places he was referring to? Falkirk? Bradford?

Wallyford ?

[sidneyhibbie]

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As PTS says, their belief is that they ARE working on behalf of the creditors. Any complaint by you might be best left until after the administration is complete, so that you can see the whole picture.

And, point of order, they haven't increased the costs. They have, apparently, replaced one player (Sutton) with another, who is probably cheaper.

You might want to read this first:-

http://www.richardlong.co.uk/corporate.html

Cheers for the information Moraly this is still wrong HWU Are due 160k and counting yet thet still get to use their facilities and employ additional players who will be using the facility and getting paid to do so.
Okay legally they are within the bended rules but morally totally out off order.

[Waxy]

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Did Billy ever reveal what places he was referring to? Falkirk? Bradford?

Exactly.What does he mean by this.
does he mean he's been to fort William and done a p1sh behind a bush.
Or he's been to the kirkgate and done some shopping?

[The Green Goblin]

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fatbeardyjambopervgate coverup


- post 71 and subsequent chat about it been deleted/suppressed on kickback

That must be why I couldn't find it. Can you tell/pm me what it was?

Funniest post on that thread for me is "Rudi should know". It doesn't seem to occur to them that their hero is currently rolling around in an EU grain mountain sized pile of cash he got from them over the years while they bake cakes and paint faces just to try and survive into next season. It wasn't even a shirt he had donated. It was a fan's precious memento.

The amount of self congratulation on that thread is hilarious.

[The Green Goblin]

Because all Big Teams do desperate fundraisers just to survive.

[HibbyAndy]

have ha ha hearts got danny wilson back ?

[CropleyWasGod]

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have ha ha hearts got danny wilson back ?

He didn't leave.


Said Pinocchio.

[HibbyAndy]

Why the hell would this imbocile wish to remain at hearts???..They are a complete shambles of a club.

Surely others clubs were in for him.

What a complete oddball.

[jacomo]

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have ha ha hearts got danny wilson back ?

I read SPFL's "explanation" about Danny Wilson last night, and it makes absolutely no sense whatsoever. They are claiming it is a contract extension, and so allowed despite the transfer embargo, but it is not - surely, it is a new contract, due to start today, replacing the loan agreement Hearts had with Liverpool?

Of course the Yams will crow about this and good luck to them, but I would like to see them explain how a new contract between Hearts and Danny Wilson only is in any way an extension of an agreement between Hearts and Liverpool FC.

They even renegotiated his wages.

http://www.bbc.co.uk/sport/0/football/23117440