Share Transfers Agreed/Cooling off period

[HibbySpurs]

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They have a thread on KB about Rangers not being happy about Hearts "preferential treatment", one quote, from Livingstonjambo I found absolutely unbelievable

"FFS they just dont get it do they. Both ourselves and Dunfermline just ran out of money whilst trying to meet our outgoings however The Rangers actively avoided paying VAT/NIC and PAYE......"

Most of them well and truly deserve everything that is coming their way.

Good grief..... That has to be a troll over there.....

[Moulin Yarns]

My eyes did not deceive me I saw a Heart of Midlothian pennant in a bar scene on the C word on More4.

[BH Hibs]

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on sickbag now,there are some getting hopes up that they can re-sign webster or zalplukeus. stating they are still registered hearts players? seemingly webster training with them today. o & the usual rudi coming back in febuary,these canutes never learn?

They can have them they're pish anyway

[Spike Mandela]

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I posted this last week without naming her and got pelters. Confused.com

I was informed she was putting up the capital for the PBS renting it for a small fee till a new location is found in the future ( i'll whisper it, council/sports scotland etc) then she'll make a pretty penny selling the dump. And as i said, I HOPE IT'S BULL

Did we not effectively lease ER from Tom Farmer until such times we could afford to get it back?

[jgl07]

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Did we not effectively lease ER from Tom Farmer until such times we could afford to get it back?

No Hibs were split into three or four separate companies. One was the actual football club, one held the roperty including the stadium, one dealt with catering. There was a holding company above them all. This was done to insulate the football club from the debts.

The football club probably paid nominal rent to the stadium company. A real case of paying money to ourselves.

Eventually, the companies were merged by Farmer when the debts became more managable. This may have co-incided with the sale of most of the car park for housing development?

[Ryan69]

Its absolutely staggering what the people who owned Hearts have done...pretty much ripped everybody,even charities off!

The unbelievable things is though how timid the fans are!
I was at Hands on Hibs. I was young,but my Dad and family being Hibs...of course we were going! Even my Hearts supporting brother went.
What have these clowns over the road done? Apart from winning cake contests,and fainting faces...what have they really done?
If it was Hibs we would be out in force,make it known our thoughts and love for the club....draw attraction and gain publicity about our plight.

Im absolutely gobsmacked...at how little they have done,and the arrogance of them. Who didnt get messages after Malmo?

Just cant decide how I want it to pan out...but im swaying towards end this disgusting club.

Though without a derby and all the banter that goes with it....its a tough one really.

[hibees 7062]

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Seen this on Twitter from FOH

@The_FoH: We are hearing suggestions that tomorrow's @edinburghpaper will be issuing a special rallying call to #createhistory #intriguing ;-)

Wonder what our impartial local rag has planned?

A paper burning contest

[Groathillgrump]

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Ironically Scott is a hibby

I went to the same secondary school as Scott Wilson and I can assure you he's a Jambo.

[jgl07]

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I went to the same secondary school as Scott Wilson and I can assure you he's a Jambo.

It wasn't Scott Wilson he was talking about. It was another Scott.

Scott Wilson is one of the worst type of Jambo fuds. He is centre green presenter for Edinburgh Speedway and loses no opportunity to trot out the 5-1 crap through the microphone.

[The Falcon]

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Yeah, that's what I thought. From memory, all rangers fines were about £200k in total - bringing game into disrepute is the only other I can remember, but I think there were others too. If hearts received such a fine(s) today that had to be paid on coming out of admin it would have made things even tighter than it already is (maybe) gonna be for them.

Hearts have still to be punished for (repeated) non payment of wages despite assurances to the contrary. And there is the failure to pay taxes which looks, on the face of it, that it may take some explaining.

[PapillonVert]

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We need a Q&A Session with sidney

Favourite film - You've got mail
Favourite song - Return to Sender

etc!

Favourite books: The Postman Never Rings Twice.
The Timewaster Letters (there is such a book title)
The Book of Letters: How to Write a Letter for Every Occasion (did you write that one, Sidney? )
The Screwtape Letters (C.S. Lewis)
Letters from Italy

Favourite Song (since we're Hibbies): Letter from America

Favourite Films: Letter
The Letter
The Scarlet Letter (should that be "Maroon"?)
Letters of Love
A Letter to Three Wives
The Love Letter
A Four Letter Word (Yams?)
The Kremlin Letter
Love Letter
Letter from Iwo Jima
Letters to Juliet

[Winston Ingram]

The most amazing thing thing is Hearts fans, even some of the sensible ones believe they are blameless for the current situation.

This situation was a ticking timebomb for nearly 9 years. Everybody could see what was going on. The debt & expenditure continued to rise way beyond what a club of that size could afford yet they did nothing. It'll be the most deserving liquidation in history

[Hermit Crab]

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They can have them they're pish anyway

They can't sign them until they come out of admin.

[robinp]

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The most amazing thing thing is Hearts fans, even some of the sensible ones believe they are blameless for the current situation.

This situation was a ticking timebomb for nearly 9 years. Everybody could see what was going on. The debt & expenditure continued to rise way beyond what a club of that size could afford yet they did nothing. It'll be the most deserving liquidation in history

But because of this whole charade we have one of THE best financial quotes since the great Wall Street crash:

"It's not real debt, because we owe it to ourselves"

[Geo_1875]

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The most amazing thing thing is Hearts fans, even some of the sensible ones believe they are blameless for the current situation.

This situation was a ticking timebomb for nearly 9 years. Everybody could see what was going on. The debt & expenditure continued to rise way beyond what a club of that size could afford yet they did nothing. It'll be the most deserving liquidation in history

They are claiming that they and their club are blameless and there should be a separation between Romanov and the club. I never heard any of them claiming Vlad had left us behind as rivals, or Vlad destroyed us as a club or Vlad would conquer world football. They were all giving it the royal we at the time but it's now a big boy done it and ran away. **** them all.

[Aldo]

The can bleat and moan all they want. They've made their bed and they can lie in it.

Someone should ask the MP for Edin South about the debt in arrears the Yams owe the Council. A fair whack.

You do know what they are going to do don't you. Play till Xmas then fold.... Just to **** everyone up.

[Bristolhibby]

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The can bleat and moan all they want. They've made their bed and they can lie in it.

Someone should ask the MP for Edin South about the debt in arrears the Yams owe the Council. A fair whack.

You do know what they are going to do don't you. Play till Xmas then fold.... Just to **** everyone up.

It's the Hearts way.

[greenginger]

http://www.scotsman.com/sport/footba...2014-1-3026540


BDO reckon Hearts may still be in administration when the transfer ban expires.

I wonder if they have told the Lith. Ukio admin. that they see this as a job for life and their fees will eat any offer they get for the vile outfit.

[CropleyWasGod]

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http://www.scotsman.com/sport/footba...2014-1-3026540


BDO reckon Hearts may still be in administration when the transfer ban expires.

I wonder if they have told the Lith. Ukio admin. that they see this as a job for life and their fees will eat any offer they get for the vile outfit.

This is the most important bit for me:-

We still have the situation in Lithuania to resolve.

Will anyone in the MSM pick up on that, or are we expected to do their job for them?

[Dalkeith]

from over the road
It's good news from FoH standpoint, not so much if you happen to be a certain Italian lawyer...

[OrdHibby]

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Did we not effectively lease ER from Tom Farmer until such times we could afford to get it back?

You could be right. When up and running properly again did we not buy it back with a mortgage. Someone i'm sure will be along soon enough with the FACTS

[HUTCHYHIBBY]

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This is the most important bit for me:-

We still have the situation in Lithuania to resolve.

Will anyone in the MSM pick up on that, or are we expected to do their job for them?

Its absolutely amazing just how much ignorance there is amongst the MSM and Jambos re the situation over in Lithuania, its not going to be resolved any time soon.

[OrdHibby]

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This is the most important bit for me:-

We still have the situation in Lithuania to resolve.

Will anyone in the MSM pick up on that, or are we expected to do their job for them?

lol

crack on

[greenginger]

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This is the most important bit for me:-

We still have the situation in Lithuania to resolve.

Will anyone in the MSM pick up on that, or are we expected to do their job for them?

Should BDO's first priority not be to establish whether the Lith. situation is resolvable, if not, then organising creditor meetings commenting on registration bans are a complete waste of time and money.

The only way forward would be liquidation and a Newco for next season but I think the BDO brass like the spotlight and to play football manager whilst getting their pockets well lined.

[Kojock]

Am I missing something here. Hearts owe 1.9mil to HMRC. I thought the "share issue" monies were meant to have cleared that debt

If it was not cleared then two things spring to mind

1/ Where did the money go to ?
2/ Why didn't HMRC put them into admin ?

Why are Hearts fans not banging Southerns door down demanding answers to the missing cash and questioning why he was spouting all the urine about being self sufficient when its quite evident now that they were merely robbing Peter to pay Paul.

[Treadstone]

With BDOs fees nearing £200k according to CWGs scoop of the creditors report in the first 5/6 weeks of the admin. Is that level of charge sustained throughout the process or does it slow down after an initial period of assessment ?

[Kojock]

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You do know what they are going to do don't you. Play till Xmas then fold....

I couldn't think of a better Christmas present to be honest.

[CropleyWasGod]

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Should BDO's first priority not be to establish whether the Lith. situation is resolvable, if not, then organising creditor meetings commenting on registration bans are a complete waste of time and money.

The only way forward would be liquidation and a Newco for next season but I think the BDO brass like the spotlight and to play football manager whilst getting their pockets well lined.

I'm sure they are doing that whilst they go about the statutory stuff, which although seemingly worthless is still necessary. Knowing BJ of old, he is a practical guy.

[CropleyWasGod]

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Am I missing something here. Hearts owe 1.9mil to HMRC. I thought the "share issue" monies were meant to have cleared that debt

If it was not cleared then two things spring to mind

1/ Where did the money go to ?
2/ Why didn't HMRC put them into admin ?

Why are Hearts fans not banging Southerns door down demanding answers to the missing cash and questioning why he was spouting all the urine about being self sufficient when its quite evident now that they were merely robbing Peter to pay Paul.

UBIG's debt reduced from £10m to £8m.

Just saying likes..... not for me to jump to conclusions.

[robinp]

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With BDOs fees nearing £200k according to CWGs scoop of the creditors report in the first 5/6 weeks of the admin. Is that level of charge sustained throughout the process or does it slow down after an initial period of assessment ?

From personal experience, if its a trading administration, of which this is, then it can be sustained for the period. Not only do you have to deal with the historical financial mess, book debts etc, you have to oversee the trading of the business post date of admin and its the IP who is responsible for that.