Share Transfers Agreed/Cooling off period

[Dashing Bob S]

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Yup - think it's highly unlikely 'Skint FC' were the only business Vlad ran honestly. I'm sure I read somewhere that the rule re 'profiting from criminal activity' (or words to that effect) is an automatic stripping of any/all titles/trophies won during the period concerned ??. 5-1 being wiped out would be the death-knell for them.

Can anyone more clued-up on the rules regarding this confirm/correct ??

It certain that they weren't ran honestly. We have to remember that they sometimes actually did players, and when they did it was far more handsomely than their modest revenue stream allowed for. What will be harder to determine, and what a lot of Lithuanian state accountants and clerks might be working their way through right now, is where the money that was going in and out of the club came from and went to.

[CropleyWasGod]

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Yup - think it's highly unlikely 'Skint FC' were the only business Vlad ran honestly. I'm sure I read somewhere that the rule re 'profiting from criminal activity' (or words to that effect) is an automatic stripping of any/all titles/trophies won during the period concerned ??. 5-1 being wiped out would be the death-knell for them.

Can anyone more clued-up on the rules regarding this confirm/correct ??

Pretty sure that's a myth.

A quick trawl of the SFA site shows nothing in that connection, but feel free to have a closer look.

[Just Alf]

I see "our" tribute thread over on brokeback has been bumped up again. (Thanks guys we know you love us really :D )

Interestingly one bod mentions finding stuff on here re agendas meeting dates etc and that it would have been good to know about and discuss it, as usual though he's slapped down with summat about being available via google...... Totally missing the point that some of the "entellyjunt" guys might want to discuss stuff.

Heads truly in the sand!

[Springbank]

It's not Gorgie Farm, it's Animal Farm over there

[GreenLake]

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Three things they still need.
1. Ukio creditors to approve the CVA.
2. Ubig to arrange a creditors meeting and then agree to the share transfer.
3. The Shares to be unfrozen by Kaunas district court.

They also need to avoid events which might place everything of minor significance on the back burners.

1. Escalation of military activity in Ukraine.
2. National, European or global economic downturn.

Any of which are not impossible in the coming weeks or months.

[brog]

I think some clarification is needed re liquidation, there are some comments on here which seem to indicate that liquidation before the end of the season yet Yams continuing to fulfil fixtures is possible. As others have pointed out that scenario is incompatible. Once the L word is announced Yams are dead, they cease to exist. Now that would be good news for us as we would effectively gain 3 points but the bad news is ( IMO ) it won't happen before the end of the season. The main reason is the football authorities advanced Yams £823,895 earlier this season. Per BDO's statement of 30 Jan, These funds are contingent on the Club completing the full 2013/14 season. As there's only 8 weeks or so to go it would be foolhardy, even by Yam standards to throw this money away. The good news is I believe liquidation is now more likely than not & the momentum is definitely with the big L. If there is no good news before season end, I expect an announcement before the final moving goodbye to fans at the last game, though it will be hard to trump the scenes from PBS last year.

[Ozyhibby]

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I think some clarification is needed re liquidation, there are some comments on here which seem to indicate that liquidation before the end of the season yet Yams continuing to fulfil fixtures is possible. As others have pointed out that scenario is incompatible. Once the L word is announced Yams are dead, they cease to exist. Now that would be good news for us as we would effectively gain 3 points but the bad news is ( IMO ) it won't happen before the end of the season. The main reason is the football authorities advanced Yams £823,895 earlier this season. Per BDO's statement of 30 Jan, These funds are contingent on the Club completing the full 2013/14 season. As there's only 8 weeks or so to go it would be foolhardy, even by Yam standards to throw this money away. The good news is I believe liquidation is now more likely than not & the momentum is definitely with the big L. If there is no good news before season end, I expect an announcement before the final moving goodbye to fans at the last game, though it will be hard to trump the scenes from PBS last year.

Pretty sure there won't be any notice given before last game. The will announce and put padlocks on the same morning. There are assets inside Tynecastle that will need to be protected.

[scoopyboy]

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It costs about £130k a week to run Hibs. It shouldn't be that surprising?

wow, didn't realise that.

[CropleyWasGod]

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wow, didn't realise that.

In our last accounts, our turnover was £8m, and our costs just short of that.

So £130k a week is not far off the mark.

[PatHead]

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Not seen the figures for this year, sure they must be out there, but the bottom club got £730k last year....so they are going to have £195k (plus any lift for this year) to aid the gap in funding....tick tock

Last year the league had a sponsor. As we don't have one now there is no guarantee prize money will be as high.

[jacomo]

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It certain that they weren't ran honestly. We have to remember that they sometimes actually did players, and when they did it was far more handsomely than their modest revenue stream allowed for. What will be harder to determine, and what a lot of Lithuanian state accountants and clerks might be working their way through right now, is where the money that was going in and out of the club came from and went to.

The reason why Romanov bought Hearts has never been fully explained. After all, he wasn't a fan and certainly didn't make any money.

Football clubs do have a lot of cash going through them, however. Maybe he used HMFC as a Laundromat to wash dirty money??

[Ozyhibby]

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The reason why Romanov bought Hearts has never been fully explained. After all, he wasn't a fan and certainly didn't make any money.

Football clubs do have a lot of cash going through them, however. Maybe he used HMFC as a Laundromat to wash dirty money??

That almost certain but I doubt it will affect the club going forward.
Looming liquidation much more likely.

[Weststandwanab]

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I think some clarification is needed re liquidation, there are some comments on here which seem to indicate that liquidation before the end of the season yet Yams continuing to fulfil fixtures is possible. As others have pointed out that scenario is incompatible. Once the L word is announced Yams are dead, they cease to exist. Now that would be good news for us as we would effectively gain 3 points but the bad news is ( IMO ) it won't happen before the end of the season. The main reason is the football authorities advanced Yams £823,895 earlier this season. Per BDO's statement of 30 Jan, These funds are contingent on the Club completing the full 2013/14 season. As there's only 8 weeks or so to go it would be foolhardy, even by Yam standards to throw this money away. The good news is I believe liquidation is now more likely than not & the momentum is definitely with the big L. If there is no good news before season end, I expect an announcement before the final moving goodbye to fans at the last game, though it will be hard to trump the scenes from PBS last year.

There is no chance of the big L procedures commencing before the end of this season for exactly the reason you state.

However, once the last league match is played I would not rule out a massive acceleration in that direction.

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Last year the league had a sponsor. As we don't have one now there is no guarantee prize money will be as high.

Absolutely spot on.

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The reason why Romanov bought Hearts has never been fully explained. After all, he wasn't a fan and certainly didn't make any money.

Football clubs do have a lot of cash going through them, however. Maybe he used HMFC as a Laundromat to wash dirty money??

I think in the fullness of time this will be sown to be the case.

[TRC]

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The reason why Romanov bought Hearts has never been fully explained. After all, he wasn't a fan and certainly didn't make any money.

Football clubs do have a lot of cash going through them, however. Maybe he used HMFC as a Laundromat to wash dirty money??

Always thought that this was the case. No chance that some funny money didn't come through the door at tincastle.

[jacomo]

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That almost certain but I doubt it will affect the club going forward.
Looming liquidation much more likely.

It could affect some personnel or ex personnel individually though. Never mind Vlad, always thought Fedotovas' sudden exit was suspicious - he definitely knows where the bodies are buried.

David Southern might have questions to answer esp re: £1m of cash that disappeared from the 'share issue', but will probably claim the 'thick as mince' defence.

[Platinum Scotty]

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Last year the league had a sponsor. As we don't have one now there is no guarantee prize money will be as high.

not disagreeing but the muppet that is Doncaster claimed in October last year that the prize money wasnt affected.....either way its not going to buy that lot time!!!

http://www.express.co.uk/sport/footb...yout-from-SPFL

[CropleyWasGod]

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Always thought that this was the case. No chance that some funny money didn't come through the door at tincastle.

A classic way of laundering money is to inflate the reported income of a business beyond its normal income.

Just saying.

[GreenLake]

Posted Today, 07:41 by Fannie Boy
For the TrackedArms.net to digest over their methadone breakfast, study the following sentences from yesterday's meeting, "Sounds Scottish football club Hearts managing the company's "Heart of Midlothian Plc Debt Economy Bank seeks to 61.6 million. LTL. All interested parties are covered by the decision of the creditors' peaceful way of an agreement. High probability that the bank will recover part of the loan." Two words stand out to me and they are peaceful and probability, we need another p word to add to that and it's patience, difficult I know but in sure we will get there.

And that p word is pumped, as in you are well and truly.

[lord bunberry]

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Pretty sure there won't be any notice given before last game. The will announce and put padlocks on the same morning. There are assets inside Tynecastle that will need to be protected.

True there's a couple of genuine Victorian calor gas heaters in the john Robertson suite and of course there's medals Mackay's Scotland top, replacing that lot could run into three figures.

[Platinum Scotty]

even Locke is looking forward!!!

http://www.scotsman.com/sport/footba...ocke-1-3346446

[Haymaker]

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even Locke is looking forward!!!

http://www.scotsman.com/sport/footba...ocke-1-3346446

Is this the beginning of the end? A few words that it may collapse... Softening them up?

[greenginger]

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Not doubting you but how on earth are they managing to lose that per week.

Sorry, should have said spending £ 100,000 per week.

The figures are from the BDO interim statement for the first 26 weeks in admin.

Trading expenditure was £ 2,443,169.00 or £ 94,000/week.

[Weststandwanab]

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A classic way of laundering money is to inflate the reported income of a business beyond its normal income.

Just saying.

CWG it is but I do not think that is the case with the Yams.

[GreenLake]

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Is this the beginning of the end? A few words that it may collapse... Softening them up?

A few cases of the skitters over at jambos.cheats

[Craig_in_Prague]

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even Locke is looking forward!!!

http://www.scotsman.com/sport/footba...ocke-1-3346446

they just have to throw in big nose may return.

actually all the sweeter when the big L comes and he's hanging about the club like a bad smell

Pleasing.

in all seriousness, it finally sounds like Locke is given up hope of them coming out of admin. They are a bit slow, but at least he's aware how important the next month or so is.

tick tock

[Joe6-2]

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True there's a couple of genuine Victorian calor gas heaters in the john Robertson suite and of course there's medals Mackay's Scotland top, replacing that lot could run into three figures.

150p :-D

[Onion]

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Is this the beginning of the end? A few words that it may collapse... Softening them up?

Locke has no future with Hearts and will have been properly briefed on what to say and how to say should the Admin question get asked (which was inevitable). A definite shift in their usual upbeat, holding statement where salvation is just a few weeks away and a mere formality. Expect BDO/BJ and others to start rolling out the cautionary soundbites in the next few days.

[hibIBZ]

http://www.orwellhearts.pwp.blueyond...ynecastle.html

Never seen this site before.... They really did believe every word from vlad

[Kato]

They'll find out what is happening in a month. Which month? Which year?

[Weststandwanab]

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they just have to throw in big nose may return.

actually all the sweeter when the big L comes and he's hanging about the club like a bad smell

Pleasing.

in all seriousness, it finally sounds like Locke is given up hope of them coming out of admin. They are a bit slow, but at least he's aware how important the next month or so is.

tick tock

More chance of Concorde flying again.

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Locke has no future with Hearts and will have been properly briefed on what to say and how to say should the Admin question get asked (which was inevitable). A definite shift in their usual upbeat, holding statement where salvation is just a few weeks away and a mere formality. Expect BDO/BJ and others to start rolling out the cautionary soundbites in the next few days.

I think you will be proved correct here.