Court Action Dismissed (Merged Threads)

[CJGJ]

I'm a law graduate and paralegal, so I know what I'm talking about. This is an unstarred motion which effectively means it will be discussed tomorrow to see if it has any credence. More importantly this is the start of more winding up petitions as the employees of the club have not been paid for two weeks. Moreover if the professional footballers in the company haven't been paid, it is likely the tea lady won't have been paid either. All it takes is one successful claim by one of hearts employees and the club will go into administration. If the business is found not to be paying its employees paye, administrators will be called in and Romanov will effectively be out. Therefore I want hmfc to go into administration because I want Romanov to be out.

 

Before you cry "traitor", there is sound logic to my argument. We currently have ?30 million of debt owed to Romanov's bank in lithuania, however if we are to go into administration it is unlikely that Romanov and his bank will ever see the money as you cannot effectively take on the debts of a company you purchase and turn its debts into profit just because you own a bank. That would be ludicrous. Thus Romanov will scarper back to lithuania leaving the administrators of the football club to handle our assets. The most likely administrator will be Blair Nimmo.

 

Now hurry up with this shenanigans...its dystopia for hearts..it fitted in with the dark days of 2005 when he took over but quite frankly I'm a little bit more optimistic these days and (unlike many others) I see brand new sunshiny days ahead for the hearts in a new stadium and in a league without the old firm and without the vladster.

 

You may be a paralegal but if I was you I'd look up adminstration in more detail and what it means before you assume Romanov would end up with nothing.

Also it seems it is not the players or anyone associated with them who has raised this action.

[ritchies75]

I'm a law graduate and paralegal, so I know what I'm talking about. This is an unstarred motion which effectively means it will be discussed tomorrow to see if it has any credence. More importantly this is the start of more winding up petitions as the employees of the club have not been paid for two weeks. Moreover if the professional footballers in the company haven't been paid, it is likely the tea lady won't have been paid either. All it takes is one successful claim by one of hearts employees and the club will go into administration. If the business is found not to be paying its employees paye, administrators will be called in and Romanov will effectively be out. Therefore I want hmfc to go into administration because I want Romanov to be out.

 

Before you cry "traitor", there is sound logic to my argument. We currently have ?30 million of debt owed to Romanov's bank in lithuania, however if we are to go into administration it is unlikely that Romanov and his bank will ever see the money as you cannot effectively take on the debts of a company you purchase and turn its debts into profit just because you own a bank. That would be ludicrous. Thus Romanov will scarper back to lithuania leaving the administrators of the football club to handle our assets. The most likely administrator will be Blair Nimmo.

 

Now hurry up with this shenanigans...its dystopia for hearts..it fitted in with the dark days of 2005 when he took over but quite frankly I'm a little bit more optimistic these days and (unlike many others) I see brand new sunshiny days ahead for the hearts in a new stadium and in a league without the old firm and without the vladster.

 

 

The club have said it is only first team squad that havent been paid so as far as im aware everyone else has.

 

Just on you saying you hope Hearts go in to administration, i was under the impression that creditors have to agree a settlement before a company can come out of administration. If this is true and Romanov as our only creditor fails to accept a sum from the administrator, wouldnt the club be wound up?

[marshallschunkychicken]

I'm a law graduate and paralegal, so I know what I'm talking about. This is an unstarred motion which effectively means it will be discussed tomorrow to see if it has any credence. More importantly this is the Ustart of more winding up petitions as the employees of the club have not been paid for two weeks. Moreover if the professional footballers in the company haven't been paid, it is likely the tea lady won't have been paid either. All it takes is one successful claim by one of hearts employees and the club will go into administration. If the business is found not to be paying its employees paye, administrators will be called in and Romanov will effectively be out. Therefore I want hmfc to go into administration because I want Romanov to be out.

 

Before you cry "traitor", there is sound logic to my argument. We currently have ?30 million of debt owed to Romanov's bank in lithuania, however if we are to go into administration it is unlikely that Romanov and his bank will ever see the money as you cannot effectively take on the debts of a company you purchase and turn its debts into profit just because you own a bank. That would be ludicrous. Thus Romanov will scarper back to lithuania leaving the administrators of the football club to handle our assets. The most likely administrator will be Blair Nimmo.

 

Now hurry up with this shenanigans...its dystopia for hearts..it fitted in with the dark days of 2005 when he took over but quite frankly I'm a little bit more optimistic these days and (unlike many others) I see brand new sunshiny days ahead for the hearts in a new stadium and in a league without the old firm and without the vladster.

 

Bollocks. If you are a law graduate, you really scraped through.

[Munch]

Who took the coin and sold our club to Vlad ? does that man not accept some of the blame a solicitor who still attends the games for free ? he took the ten pieces of silver that led us here.

[Geoff Kilpatrick]

Never was this smiley more apposite.

 

[Kramer]

I'm a law graduate and paralegal, so I know what I'm talking about. This is an unstarred motion which effectively means it will be discussed tomorrow to see if it has any credence. More importantly this is the start of more winding up petitions as the employees of the club have not been paid for two weeks. Moreover if the professional footballers in the company haven't been paid, it is likely the tea lady won't have been paid either. All it takes is one successful claim by one of hearts employees and the club will go into administration. If the business is found not to be paying its employees paye, administrators will be called in and Romanov will effectively be out. Therefore I want hmfc to go into administration because I want Romanov to be out.

 

Before you cry "traitor", there is sound logic to my argument. We currently have ?30 million of debt owed to Romanov's bank in lithuania, however if we are to go into administration it is unlikely that Romanov and his bank will ever see the money as you cannot effectively take on the debts of a company you purchase and turn its debts into profit just because you own a bank. That would be ludicrous. Thus Romanov will scarper back to lithuania leaving the administrators of the football club to handle our assets. The most likely administrator will be Blair Nimmo.

 

Now hurry up with this shenanigans...its dystopia for hearts..it fitted in with the dark days of 2005 when he took over but quite frankly I'm a little bit more optimistic these days and (unlike many others) I see brand new sunshiny days ahead for the hearts in a new stadium and in a league without the old firm and without the vladster.

 

 

I always believed it would be the tea lady that finished us in the end. There was just something about her.

[RudiMustScore]

Heart of Midlothian PLC

 

There are four main types of company:

There are four main types of company:

 

?Private company limited by shares - this type of company has a share capital and the liability of each shareholder (called a member) is limited to any part of the cost of the shares that he or she holds that has not been paid. A private company cannot offer its shares for sale to the general public.

 

?Private company limited by guarantee - in this type of company, members do not purchase shares. The members' liability is limited to the amount that they each agree to contribute to the company's assets if it is wound up.

 

?Private unlimited company - this type of company may or may not have a share capital and there is no limit to the members' liability. Because there is no limitation on members? liability, the company has to disclose less information than other types of company.

 

?Public limited company - this type of company has a share capital and the liability of each member is limited to the amount unpaid on shares that a member holds. A public limited company may offer its shares for sale to the general public and may also be quoted on the stock exchange.

 

Hope this helps

[davemclaren]

My inside source suggests that Dundee Utd are still chasing the Pettigrew/Addison cash and this is their last roll of the dice ...

 

 

We just need to offer then Gary Mackay as settlement.

[Tommy Wiseau]

who was the lucky guy last time you went down?

 

 

OI OI THINKS IN THE YEAR 2011 THAT FALSELY IMPLYING SOMEONE IS HOMOSEXUAL IS A MASSIVE INSULT

[azpark1986]

A few flaws in your argument, I'm afraid. First of all it's been confirmed that the non-footballing staff and all youth players have been paid, so you needn't worry about your clich?d tea lady for starters. As for the winding up of the club, it's highly unlikely that a player on a wage they're unlikely to get elsewhere, in scotland at least, will want to see the club wound up, while the wages are eventually being paid (as would again appear to be the case) and watch their ?4k a week go down the drain until they find a new club.

 

Your whole post reeks to be honest, from the "I'm a paralegal" intro to your crystal ball appointment of blair nimmo as administrator. I tend to find that when someone's opening gambit is "I know what I'm talking about" they usually don't. You're either well meaning and a bit naif or you're at the wind up.

 

Firstly, the tea lady was a hypothetical example and you should take from it that maybe she's been paid now however she might not be paid in the coming months considering the most important employees haven't.

 

Secondly, okay I take your point about blair nimmo, its not certain he would be the administrator.

 

Finally do you agree that the administrators won't be obligated to pay ?30 million of debt into a lithuanian bank?

[Groot]

I'm a law graduate and paralegal, so I know what I'm talking about. This is an unstarred motion which effectively means it will be discussed tomorrow to see if it has any credence. More importantly this is the start of more winding up petitions as the employees of the club have not been paid for two weeks. Moreover if the professional footballers in the company haven't been paid, it is likely the tea lady won't have been paid either. All it takes is one successful claim by one of hearts employees and the club will go into administration. If the business is found not to be paying its employees paye, administrators will be called in and Romanov will effectively be out. Therefore I want hmfc to go into administration because I want Romanov to be out.

 

Before you cry "traitor", there is sound logic to my argument. We currently have ?30 million of debt owed to Romanov's bank in lithuania, however if we are to go into administration it is unlikely that Romanov and his bank will ever see the money as you cannot effectively take on the debts of a company you purchase and turn its debts into profit just because you own a bank. That would be ludicrous. Thus Romanov will scarper back to lithuania leaving the administrators of the football club to handle our assets. The most likely administrator will be Blair Nimmo.

 

Now hurry up with this shenanigans...its dystopia for hearts..it fitted in with the dark days of 2005 when he took over but quite frankly I'm a little bit more optimistic these days and (unlike many others) I see brand new sunshiny days ahead for the hearts in a new stadium and in a league without the old firm and without the vladster.

 

 

It has been well publicised that it is only the 1st team squad who have not been paid

[Munch]

Never was this smiley more apposite.

 

 

 

If Greece can get a bail out so can wee. i think.

[Munch]

This thread could beat the Mighoo one or even the Sir Paul one at this rate

[azpark1986]

You may be a paralegal but if I was you I'd look up adminstration in more detail and what it means before you assume Romanov would end up with nothing.

Also it seems it is not the players or anyone associated with them who has raised this action.

 

Maybe you should do a bit more research on the antiquated court systems in place to safeguard national institutions like hearts in situations just like these. This is by no means straightforward, however it is the context of this situation which is clear to me, if you're willing to put to me that administrators in this country will just donate ?30 million into a lithuanian bank without doing intensive investigations and taking it to the courts then you are naive.

[The Comedian]

It has been well publicised that it is only the 1st team squad who have not been paid

 

[RudiMustScore]

The same thing happened in July with the HMRC and Vlad paid at Zero Hour.

 

Hopefully he has the cash to do the same this time and the next?

[CJGJ]

Firstly, the tea lady was a hypothetical example and you should take from it that maybe she's been paid now however she might not be paid in the coming months considering the most important employees haven't.

 

Secondly, okay I take your point about blair nimmo, its not certain he would be the administrator.

 

Finally do you agree that the administrators won't be obligated to pay ?30 million of debt into a lithuanian bank?

Again -- please check adminstration laws -- it would help you with any future comments you may post --

[The Gasman]

Wow....!

 

If you work on a "no win - no fee" basis, I recon you'll be bust before Rangers!

[Groot]

 

 

problem with writing a reply then doing something before hitting add reply

[azpark1986]

Again -- please check adminstration laws -- it would help you with any future comments you may post --

 

Laws evolve and are flexible, that is the beauty of it, that is why we have court precedent. Having studied the damn topic intensively over 4 years, don't insult my intelligence. I'm not telling you how to do your job so don't arrogantly tell me about something of which I'm fairly learned, I am just looking at the situation from a more advanced legally experienced point of view and not just the straightforward; "basic administration laws"angle.

 

I am telling you now that there will be serious questions asked and court intervention taken in this case.

[Coco]

Maybe you should do a bit more research on the antiquated court systems in place to safeguard national institutions like hearts in situations just like these. This is by no means straightforward, however it is the context of this situation which is clear to me, if you're willing to put to me that administrators in this country will just donate ?30 million into a lithuanian bank without doing intensive investigations and taking it to the courts then you are naive.

 

Where does the premise that there is ?30m to donate into a Lithuanian bank come from?

[Commander Harris]

Waterworld is a vastly underrated film - got unfairly panned by the critics at the time but I think in retrospect it holds up as a modern classic.

[Thunderstruck]

Does a Paralegal wear a maroon beret?

[Groot]

Laws evolve and are flexible, that is the beauty of it, that is why we have court precedent. Having studied the damn topic intensively over 4 years, don't insult my intelligence. I'm not telling you how to do your job so don't arrogantly tell me about something of which I'm fairly learned, I am just looking at the situation from a more advanced legally experienced point of view and not just the straightforward; "basic administration laws"angle.

 

I am telling you now that there will be serious questions asked and court intervention taken in this case.

 

 

photo of your qualifications or GTFO

[Munch]

Waterworld is a vastly underrated film - got unfairly panned by the critics at the time but I think in retrospect it holds up as a modern classic.

 

 

Good film IMO.

[Commander Harris]

Does a Paralegal wear a maroon beret?

 

only on Thursdays.

[CJGJ]

Laws evolve and are flexible, that is the beauty of it, that is why we have court precedent. Having studied the damn topic intensively over 4 years, don't insult my intelligence. I'm not telling you how to do your job so don't arrogantly tell me about something of which I'm fairly learned, I am just looking at the situation from a more advanced legally experienced point of view and not just the straightforward; "basic administration laws"angle.

 

I am telling you now that there will be serious questions asked and court intervention taken in this case.

Hmmm -- see below

 

'BBC Scotland understands that it is over a tax bill due to HMRC that may have already been paid.'

 

Now as to your studies try to remember that others may also be better qualified to comment --and why become a paralegal -- you don't need a degree for that -- seems a waste of your obvious talents. Perhaps you are the person I ask to type up my letters ?

[Geoff Kilpatrick]

Where does the premise that there is ?30m to donate into a Lithuanian bank come from?

Behave Coco! He's a LAWYER! Know your place.

[The Comedian]

It'd seems we have a power struggle.

 

[marshallschunkychicken]

photo of your qualifications or GTFO

Indeed.

 

I'd quite like to know where he studied too.

[azpark1986]

Where does the premise that there is ?30m to donate into a Lithuanian bank come from?

 

I can't believe the dogs abuse I've had on here! Anyway this is all hypothetical but if hearts become insolvent, Romanov becomes just another creditor. I am trying to tell everyone that he will not get the ?30 million from administrators that he will inevitably claim for when he becomes a creditor and there are obvious reasons for this.

 

Peace out.

[Nicholas Brody]

It'd seems we have a power struggle.

 

 

 

It's what Wednesday's are made for

[vintage1874]

Laws evolve and are flexible, that is the beauty of it, that is why we have court precedent. Having studied the damn topic intensively over 4 years, don't insult my intelligence. I'm not telling you how to do your job so don't arrogantly tell me about something of which I'm fairly learned, I am just looking at the situation from a more advanced legally experienced point of view and not just the straightforward; "basic administration laws"angle.

 

I am telling you now that there will be serious questions asked and court intervention taken in this case.

 

in the current rangers situation, from what I've read if rangers went into administration whyte is the secured creditor and the hmrc would not get anything. Surely this would imply it would not be in the hmrc's interest if Hearts went into administration as VR would also be a secured creditor or are things different for Hearts?

[Broxburn_Jambo]

Waterworld is a vastly underrated film - got unfairly panned by the critics at the time but I think in retrospect it holds up as a modern classic.

 

I thought it was shit.

[Armageddon]

"BBC Scotland understands that it is over a tax bill due to HMRC that may have already been paid."

[The People's Chimp]

Firstly, the tea lady was a hypothetical example and you should take from it that maybe she's been paid now however she might not be paid in the coming months considering the most important employees haven't.

 

Secondly, okay I take your point about blair nimmo, its not certain he would be the administrator.

 

Finally do you agree that the administrators won't be obligated to pay ?30 million of debt into a lithuanian bank?

 

???

 

*Searches for Gary Coleman smiley*

[One flew over]

I have no legal expertise and can add nothing of inside knowledge but I am deeply concerned for our existence tonight, got such a sick feeling about this and fear that we are about to enter an end game, the comment about the tax authorities really worries me.

For all the Hibees reading this with glee tonight, Hearts going bust will be a pre cursor to the ultimate demise of several clubs in this country, without the revenue we generate through gate money and the loss of yet more TV and diminishing advertising money that we bring there will be more than 1 victim of us going bust.

I hate feeling like this and being such a doom mongrel but I honestly do fear the worst this time, I sincerely hope I am wrong!

[Dinger]

peter griffin has the answer to our problems

 

 

sorry if this offends anybody, its ment only as a laugh

[buba]

Is it not in romanovs best interests to pay any bills to keep us out of administration. That way he keeps control of the club. ??

[Nicholas Brody]

"BBC Scotland understands that it is over a tax bill due to HMRC that may have already been paid."

 

 

 

:omg!:

[azpark1986]

in the current rangers situation, from what I've read if rangers went into administration whyte is the secured creditor and the hmrc would not get anything. Surely this would imply it would not be in the hmrc's interest if Hearts went into administration as VR would also be a secured creditor or are things different for Hearts?

 

No, if rangers hmrc case fails, they will be obligated to pay the bill.

[Chester™]

"BBC Scotland understands that it is over a tax bill due to HMRC that may have already been paid."

BBC Scotland 'Understands' usually equated to them having read a forum, usually here, and putting out there as truth.

[azpark1986]

Is it not in romanovs best interests to pay any bills to keep us out of administration. That way he keeps control of the club. ??

 

Yes, but the bloke might now have much money left to pay the bills.

[marshallschunkychicken]

I can't believe the dogs abuse I've had on here! Anyway this is all hypothetical but if hearts become insolvent, Romanov becomes just another creditor. I am trying to tell everyone that he will not get the ?30 million from administrators that he will inevitably claim for when he becomes a creditor and there are obvious reasons for this.

 

Peace out.

You've got 'dog's abuse' because you have spouted ill-concieved nonsense, packaged as informed comment.

[Munch]

Nothing to see hear the bill has been paid shame for the methadone boys down in Leith getting all excited as well time for bed boys methadones over you will get horsed at the next Derby yet again keep up the empty seats disguise though.

[vintage1874]

No, if rangers hmrc case fails, they will be obligated to pay the bill.

 

if it is a large amount whyte has stated he won't be able to pay and will put rangers into administration the hmrc will get nothing. What I'm trying to find out is VR (or whatever part of his empire hearts owe money to) a secured creditor like whyte is?

[Geoff Kilpatrick]

I can't believe the dogs abuse I've had on here! Anyway this is all hypothetical but if hearts become insolvent, Romanov becomes just another creditor. I am trying to tell everyone that he will not get the ?30 million from administrators that he will inevitably claim for when he becomes a creditor and there are obvious reasons for this.

 

Peace out.

Thanks but we already know this. Nice to have the legal confirmation though.

[CJGJ]

Yes, but the bloke might now have much money left to pay the bills.

 

 

http://sport.stv.tv/football/scottish-premier/rangers/277010-what-happens-when-a-football-club-goes-into-administration/

 

and http://sport.stv.tv/football/scottish-premier/rangers/277115-what-happens-when-a-club-in-administration-sets-up-a-phoenix-company/

 

 

Now far be it from me to question you but ..................................

[strophic]

I'll post in here rather than a new thread because it'll inevitably be havers, but tomorrow's super soaraway bogroll is talking about a fire sale, claiming the top earners have been told to find new clubs. It also says Temps has already been offered to the hun for half a mil.

 

(I'm taking this from the twitter feed of one of their hacks)

[The People's Chimp]

I see the sun has cast hartley's sympathy for the players in this situation as "HARTLEY CALLS FOR PLAYER STRIKE."