Share Transfers Agreed/Cooling off period

[Springbank]

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Am I missing something here ? They owe the police £18,500, is that going to be paid ? If it's not how can the possibly play any more home games ?

Fair point

The police service Scotland (under the guise of the then Strathclyde Police) refused to police games at Ibrox last year

[kdhibees1]

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I Will post many letters tomorrow to all the main news papers this news must be highlighted cheating charities now this is shocking news. the power oh the pen is mightier than the Sword.

Sidney.

Sidney, you my friend are a ruddy legend!!!

[bingo70]

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Am I missing something here ? They owe the police £18,500, is that going to be paid ? If it's not how can the possibly play any more home games ?

That's the nature of administration, they're drawing a line in the sand and admitting they can't afford the debts they've accumulated. The police will agree to police future games as it'll be a new owner.

[jeffers]

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All debt prior to administration won't be paid.

All debt since then will be.

Thanks CWG, you'd think tho' the police would be justified in refusing to do any more games while they are owed money. If someone owed me for a service I had provided and told me I wouldn't see that money but wanted me to continue, I know what my response would be.

[lapsedhibee]

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you're a sterling young fellow, sid

Sidney has now raised awareness of so many topics with so many people that he's become a kind of focus for all that needs to be done. Shouldn't we channel all future concerns through him? We could start a campaign to make sure that he knows about anything and everything that needs to be raised with anyone and everyone. Perhaps this campaign could have as its slogan "Tell Sid" ?

[YehButNoBut]

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Sidney has now raised awareness of so many topics with so many people that he's become a kind of focus for all that needs to be done. Shouldn't we channel all future concerns through him? We could start a campaign to make sure that he knows about anything and everything that needs to be raised with anyone and everyone. Perhaps this campaign could have as its slogan "Tell Sid" ?

[clerriehibs]

I know it will have been asked, and answered, earlier, but why so many debts to all sorts of companies for £100? What's that all about?

[CropleyWasGod]

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I know it will have been asked, and answered, earlier, but why so many debts to all sorts of companies for £100? What's that all about?

Don't know if it has been asked.

I suspect that there are a few estimated figures in there. The accounting records of HMFC are, I am guessing, in a poor state and it was probably very difficult to compile that list in such a short time. There will be mistakes in the list.... see the poppy thread as an example... and other situations where it has not been possible to establish the exact amount of debts. Thus estimates will have been made, and those £100's may be an example of that.

All debts are adjudicated, ie have to be proven by the creditor. BDO acknowledge that, and there will be many changes to that list.

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Thanks CWG, you'd think tho' the police would be justified in refusing to do any more games while they are owed money. If someone owed me for a service I had provided and told me I wouldn't see that money but wanted me to continue, I know what my response would be.

But they are getting money for current work. That's the issue. Refusing to do any more games would be a daft decision commercially. They know that they'll get paid for these ones, so why would they turn it down?

[bighairyfaeleith]

I'm intrigued by all the kaunas based companies that are owed money by hearts, how long have these companies been submitting invoices for hundreds of thousands?

What are these bills for?
Who are the directors of these companies?

I suspect I know the answers but would be good to get some proof

[clerriehibs]

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Don't know if it has been asked.

I suspect that there are a few estimated figures in there. The accounting records of HMFC are, I am guessing, in a poor state and it was probably very difficult to compile that list in such a short time. There will be mistakes in the list.... see the poppy thread as an example... and other situations where it has not been possible to establish the exact amount of debts. Thus estimates will have been made, and those £100's may be an example of that.

All debts are adjudicated, ie have to be proven by the creditor. BDO acknowledge that, and there will be many changes to that list.

Cheers.

Apart from the fun aspect for us, almost a waste of effort by BDO? Apart from the big two, will any of these creditors will ever get paid anything in the pound? Any CVA is almost certainly going to be the Dunfermline flavour.

[CropleyWasGod]

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Cheers.

Apart from the fun aspect for us, almost a waste of effort by BDO? Apart from the big two, will any of these creditors will ever get paid anything in the pound? Any CVA is almost certainly going to be the Dunfermline flavour.

At £189k thus far, certainly not a waste of effort

My thinking now is that UBIG will get shafted, and that only UKIO will get anything, whether by a CVA or liquidation. Up until today, I wasn't sure about the security situation, but now that BDO have clarified it, I can't see any way of UBIG getting anything.

Ask me again tomorrow....

[lord bunberry]

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But they are getting money for current work. That's the issue. Refusing to do any more games would be a daft decision commercially. They know that they'll get paid for these ones, so why would they turn it down?

Because they know hearts have the means to pay what they are owed, and they know if they refuse to police future hearts games then hearts won't be allowed to play.

[CropleyWasGod]

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Because they know hearts have the means to pay what they are owed, and they know if they refuse to police future hearts games then hearts won't be allowed to play.

They don't have the means to pay what the owe, prior to administration.

They only have the means to pay what they owe currently.

So the police's income is virtually secured.

[Col2]

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All debt prior to administration won't be paid.

All debt since then will be.

Understand that but will be interesting to see stance of police for future games, minimum cash up front?

Wonder if Heriot Watt arrangement to let them train once a day (before U14 netball team use it) will remain or not? Appreciate legal position but common sense would make me say stuff it, you can find somewhere else unless you pay on advance?

[CropleyWasGod]

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Understand that but will be interesting to see stance of police for future games, minimum cash up front?

Wonder if Heriot Watt arrangement to let them train once a day (before U14 netball team use it) will remain or not? Appreciate legal position but common sense would make me say stuff it, you can find somewhere else unless you pay on advance?

The police and BDO will have an arrangement, just as there was with Rangers.

I'm sure that HWU have a similar arrangement; think that was mentioned a few weeks back.

[lord bunberry]

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They don't have the means to pay what the owe, prior to administration.

They only have the means to pay what they owe currently.

So the police's income is virtually secured.

Are the administrators not allowed to pay debts that were run up prior to administration?

[jgl07]

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Are the administrators not allowed to pay debts that were run up prior to administration?

Surely not?

That would amount to giving preference to one creditor over others,

[CropleyWasGod]

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Are the administrators not allowed to pay debts that were run up prior to administration?

No. They are effectively frozen.

That's what this list is. A (provisional) list of monies owed at the date of administration.

[Hibernia Na Eir]

What a devious little outfit they are. Knowingly taking on debts in the full knowledge they weren't ever gonna deliver payments.

Punish them. End them!

[monktonharp]

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Spotted that too, only incorporated on 7th March 2013. Registered office seems to be HBJ. Lot of debt to rack up in three months.

there is a company in the same building(or was) Ensco 146 dissolution date there too for it/them

[bighairyfaeleith]

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What a devious little outfit they are. Knowingly taking on debts in the full knowledge they weren't ever gonna deliver payments.

Punish them. End them!

What a deviant little outfit they are, harbouring known sex offenders for several years.

Punish Them, End Them!

[lord bunberry]

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No. They are effectively frozen.

That's what this list is. A (provisional) list of monies owed at the date of administration.

Sorry I didn't realise that.

[Hibernia Na Eir]

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No. They are effectively frozen.

That's what this list is. A (provisional) list of monies owed at the date of administration.

so, how DID they pay for their Belfast jaunt?
if someone borrowed money, or was due me money, and feked off to another country, I'd be mighty peeved if I didn't see my £'s again!

I guess an outfit such as that lot don't know the meaning of morality.

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What a deviant little outfit they are, harbouring known sex offenders for several years.

Punish Them, End Them!

.....harbouring Corbett too! holy fek!

[bighairyfaeleith]

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No. They are effectively frozen.

That's what this list is. A (provisional) list of monies owed at the date of administration.

but what if the police did refuse, the only way to continue to operate would be to pay the previous bill, surely they wouldn't just cease trading rather than pay that one bill?

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.....harbouring Corbett too! holy fek!

he is easily hidden

[CropleyWasGod]

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so, how DID they pay for their Belfast jaunt?
if someone borrowed money, or was due me money, and feked off to another country, I'd be mighty peeved if I didn't see my £'s again!

I guess an outfit such as that lot don't know the meaning of morality.

They would have got a guarantee of income from the tournament organiser.

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but what if the police did refuse, the only way to continue to operate would be to pay the previous bill, surely they wouldn't just cease trading rather than pay that one bill?

As JGL says, BDO aren't allowed to favour one creditor over another, so that couldn't be paid.

I would think it pretty daft of the police to refuse. A publicly-funded body, turning down guaranteed substantial income? I wouldn't like to be the cop who took that decision...

[The Falcon]

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No. They are effectively frozen.

That's what this list is. A (provisional) list of monies owed at the date of administration.

Do we know how much the securities in favour of UKIO and/or UBIG are yet? And would this be excluded from any CVA vote? Also the Novikovas £100k is that not income from an asset that should be covered by the "floating charge"?

apologies in advance .


It must rankle with a lot of these smaller guys/ public bodies owed money that HMFC are sitting on £1m and they wont get their money.

[sidneyhibbie]

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Thanks guys i am trying my best every letter and Email i send is a nuclear bomb fired into the PBS my relentless pursuit of justice will continue till the bitter end

[bighairyfaeleith]

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As JGL says, BDO aren't allowed to favour one creditor over another, so that couldn't be paid.

I would think it pretty daft of the police to refuse. A publicly-funded body, turning down guaranteed substantial income? I wouldn't like to be the cop who took that decision...

I know, I understand it is unlikely for all the reasons given, however surely if you held them over a barrel they would have to pay would they not?

After all by paying they get revenue from being able to play more games

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Thanks guys i am trying my best every letter and Email i send is a nuclear bomb fired into the PBS my relentless pursuit of justice will continue till the bitter end

has anyone ever seen one of these letters, would like to read one, any printed?

[21.05.2016]

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Thanks guys i am trying my best every letter and Email i send is a nuclear bomb fired into the PBS my relentless pursuit of justice will continue till the bitter end

Gon yersel son

[CraigHibee]

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I Will post many letters tomorrow to all the main news papers this news must be highlighted cheating charities now this is shocking news. the power oh the pen is mightier than the Sword.

Sidney.

The media should be making a massive issue of this, it's morally wrong, it's hearts though so they probably see this as being acceptable for them