Share Transfers Agreed/Cooling off period

[Moulin Yarns]

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

Big difference then and now is that Yams needed to sell for as much as possible, so Council happy to help out by granting PP. Now Yams are effectively the BUYERS of the land, so Council happy to help out by denying PP, so suppressing price and competition.

What ARE you suggesting? that Councillors and Planners are corrupt????

Aye Ok, perfectly understandable. (with apologies to all Planners I know!)

[jgl07]

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

What ARE you suggesting? that Councillors and Planners are corrupt????

Aye Ok, perfectly understandable. (with apologies to all Planners I know!)

Regardless it will make little difference as a developer would win on appeal if the decision was dodgy.

[jacomo]

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

Regardless it will make little difference as a developer would win on appeal if the decision was dodgy.

Obviously the Yams are holding onto the supposed hazards next door to the PBS, but having been granted planning permission for flats before its very hard to see how the Council could justify reversing that decision.

[TRC]

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

Obviously the Yams are holding onto the supposed hazards next door to the PBS, but having been granted planning permission for flats before its very hard to see how the Council could justify reversing that decision.

Surley because there will be a extinct animal there soon?!

[Sanger]

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

A recent conversation with a lapsed Jambo accountant buddy of mine was enlightening.
He reckons unless the buyer has got at least £10-15m at hand, they're wasting their time if they want the club & stadium plus the necessary working capital required. He thinks that whilst the FoH people are well meaning they really haven't a clue what they are getting into as they have no real financial muscle and have next to no chance of getting the club.

He said "Charlie Green picked up Rangers for £5.5m. So why the f*** would you spend double that get Hearts? Wait till the CVA fails and it goes belly up and then buy the assets and move to relaunch the club as a Newco into Division 3."

I enquired if he would say that to his Jambo friends. He laughed and said "No way, they wouldn't listen anyway. These dafties are actually thinking that baking cakes and painting kids faces is going to address the fundamental problem of a horrifically insolvent club that doesnae have a pot to pish into. They're in for a very nasty awakening."

Those are round about my estimates and agrre with his logic and view on Yams

[green is good]

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

Obviously the Yams are holding onto the supposed hazards next door to the PBS, but having been granted planning permission for flats before its very hard to see how the Council could justify reversing that decision.

I heard a yam on the bus tell his mate that nobody would get planning permission to build housing at the PBS because of the school that was built nearby recently

[MKHIBEE]

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

Wow, a straight thinking Hearts fan who actually talks sense. I thought they didn't exist any more!

He did say his mate was a lapsed Jambo! Obviously seen the light, does he know how to get to Easter Road?

[Ozyhibby]

With such open collusion among the only two bidders it's doubtful that next weeks bid will be very high. Whether it is enough to satisfy the secured creditors is another thing. Having only FOH bidding may turn out to be good for Hearts if they get it at a reasonable price.
(I've deliberately ignored issues like frozen share etc)

[Moulin Yarns]

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

Obviously the Yams are holding onto the supposed hazards next door to the PBS, but having been granted planning permission for flats before its very hard to see how the Council could justify reversing that decision.

NO planning permission has ever been applied for, let alone given

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

Surley because there will be a extinct animal there soon?!

There is already a European Protected Species on the site

Pipistrellus pygmaeus

[greenginger]

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

Obviously the Yams are holding onto the supposed hazards next door to the PBS, but having been granted planning permission for flats before its very hard to see how the Council could justify reversing that decision.

I don't think it got as far as a grant of planning permission, but Cala would certainly have been in consultation with the planners and have been comfortable with their views before going to the trouble of striking a deal with the Football Club.

When the Council Estates Dept gets round to producing the particulars for the sale of old Tynecastle school it will be obvious if there are any impediments to house building on the PBS.

On land values, I saw Smart and Co paid around £ 4 million for the site of the Bank of Scotland computer centre just along the road in Robertson Avenue. That site was about half the size of the PBS and the deal was done in 2010 when prices were rock bottom.

[jacomo]

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

@edinburghsport: We have learned that the consortium looking to buy Hearts, being led by Gordon McKie, will not now bid. More soon on http://t.co/4RQNn1YqDM

I knew it!

I can imagine McKie's gambit being something like: "If you clear the debt and get the club out of admin before end of August so we can bring in some players, and give us the lot inc. Tynie freehold, we will bid."

Straight out of the Brian Kennedy "Blue Knights" template, and as much chance of happening.

[jacomo]

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

I don't think it got as far as a grant of planning permission, but Cala would certainly have been in consultation with the planners and have been comfortable with their views before going to the trouble of striking a deal with the Football Club.

When the Council Estates Dept gets round to producing the particulars for the sale of old Tynecastle school it will be obvious if there are any impediments to house building on the PBS.

On land values, I saw Smart and Co paid around £ 4 million for the site of the Bank of Scotland computer centre just along the road in Robertson Avenue. That site was about half the size of the PBS and the deal was done in 2010 when prices were rock bottom.

My bad, I thought it was a done deal. Maybe that's because the Pie Man tried to present it as a done deal?

"We're off to Murrayfield but we're getting £20m compo for the Not-Fit-for-Purpose midden" sounds a bit better than "We're off to Murrayfield and we might get up to £20m for the midden, dependent on whether or not Cala can ram as many flats as they want into the site."

[sidneyhibbie]

Its Liquidation or Bust

[Dibben]

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

Its Liquidation or Bust

Can only hope...

:-)

[brog]

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

I knew it!

I can imagine McKie's gambit being something like: "If you clear the debt and get the club out of admin before end of August so we can bring in some players, and give us the lot inc. Tynie freehold, we will bid."

Straight out of the Brian Kennedy "Blue Knights" template, and as much chance of happening.

Absolutely, the fact that Mckie & other members of his group were looking at Oldco last year indicated to me they were a bunch of shysters looking to make a quick buck. The fact their business case was predicated on ccommencing ownership by stiffing fans or cc companies only serves to confirm that. Still the spirit of Mercer is alive & kicking!!

[brog]

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

I love this medium for setting challenging questions.... so much healthier than MSM.

In all of this, I often have to remind myself of what the law says. I've just had to do that again:-

The three Administration statutory purposes (or required outcomes) are:


- Rescuing the company as a going concern. (Note: this purpose is to rescue the company as opposed to rescuing the business undertaken by the company.)

- Or, achieving a better result for the company's creditors as a whole than would be likely if the company were wound up (without first being in administration).

- Or, realising property to make a distribution to one or or more secured or preferential creditors.

In practice, it's normally the case that a going concern will achieve the best result for creditors. That's why an administrator will go for a CVA first, and is why BDO have to exhaust that possibility.

In your scenario, that might not be a better result than a "winding-up". A winding-up might achieve a bit more through the sale of the name, although liquidators' fees would more than gobble that up.

Good question, though.... I may ponder it more

Side note.... shareholders don't come into the equation in administration. They do in a liquidation.

Thanks CWG, much appreciated. When I said shareholders I was really thinking UBIG & if they are secured creditors, or even partial secured creditors then hopefully the property realisation may eventually come into play. Ah, this is so much fun!

[pontius pilate]

I may have missed this already but is the two week period for the 3,000 season ticket target not expired to-day?? If so has there been any announcements made?

[steakbake]

Just wanted to recycle this for everyone's enjoyment... after all, we owe it to ourselves.

http://www.heartsfc.co.uk/articles/2...241384_1902130

[Saorsa]

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

Just wanted to recycle this for everyone's enjoyment... after all, we owe it to ourselves.

http://www.heartsfc.co.uk/articles/2...241384_1902130

Should read our debt is founded by money stolen from other people.

[Dunderhall]

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

Just wanted to recycle this for everyone's enjoyment... after all, we owe it to ourselves.

http://www.heartsfc.co.uk/articles/2...241384_1902130

It is 'fact' that UBIG is 100% behind the club and its future development plans. UBIG has been an essential backer and partner of Hearts

Lower case fact.

[steakbake]

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

Lower case fact.

Yep, they should have signed off with: END OF. If they had, things might not be in the position that they are. Shame, really.

[Treadstone]

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

Just wanted to recycle this for everyone's enjoyment... after all, we owe it to ourselves.

http://www.heartsfc.co.uk/articles/2...241384_1902130

Watch this again as well especially the 4:15 mark.

http://video.stv.tv/bc/sport-fedotovas-20121109/

[Saorsa]

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

Watch this again as well especially the 4:15 mark.

http://video.stv.tv/bc/sport-fedotovas-20121109/

But why have you not paid your taxes but, but, but......

[Treadstone]

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

But why have you not paid your taxes but, but, but......

Do these dicks walk into jobs after finishing at fitba' clubs ?

[HibeeMG]

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

Watch this again as well especially the 4:15 mark.

http://video.stv.tv/bc/sport-fedotovas-20121109/

I've never seen that!

Who is that interviewer?

[Treadstone]

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

I've never seen that!

Who is that interviewer?

Gordon Chree

[Saorsa]

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

Do these dicks walk into jobs after finishing at fitba' clubs ?

Hopefully when the real dirty deals have been exposed by the Lith fraud investigators the only place he'll be walking in tae (along with the mad one) is

[HibeeMG]

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

Gordon Chree

Well done Gordon then. That's the only time I've ever seen/heard an interviewer ask the important questions.

'Have Hearts lived beyond their means?'

'We're trying to be a big club'

Tried...... failed.

[greengnome]

Not long arrived home, going through the posts on .net, and having a wee gander at the EEN.... Surprised to see a certain Alistair Darling buying tickets at the Wongadome..... It never ceases to amaze me that there just happens to be reporters / cameras in attendance when MPs are in the vicinity?


Boring............!!!!!!

[jdships]

Surely when the dust has settled and a buyer has been found/appointed the bottom line will be acquiring sufficient cash to operate on a day today /week to week/month to month basis .
In other words " cash flow"
Have seen no answers anywhere to that question