Heard tonight.....

[gasbottle]

While you make a valid point, if you add all these facts up it could happen. But what do you reckon the chance of it happening??

 

40% ? 50%? 60%?

 

Only my opinion but I would say there is a more than 50% chance of this happening. I hope I'm wrong.

[gasbottle]

[/size][/b]

 

 

Hibs 107 years / 98 / 06 thats just for starters, being A Jambo etc etc what do you want ffs

 

I will always be a Jambo and I have brought up my 2 sons to be Jambos, but surely we should be aiming for more than 2 cup wins in 50 years and challenging for a league title that we've not won for 40 odd years.

[Cigaro]

Only my opinion but I would say there is a more than 50% chance of this happening. I hope I'm wrong.

50%?

 

So its more or less the same for any club. Might, it might not.

[Tott]

From a very reliable source that Hearts will be in administration next week.

The person that told me is in football and does not have an issue with Hearts.

 

Only my opinion but I would say there is a more than 50% chance of this happening. I hope I'm wrong.

 

50% chance,even though yer mate told it you was happening?

 

Make your mind up.

[gasbottle]

50%?

 

So its more or less the same for any club. Might, it might not.

 

How many clubs are in the same mess we are at the moment with overheads that aren't being covered by the revenue coming in? We are losing money rapidly. Businesses that lose money get closed eventually.

[gasbottle]

50% chance,even though yer mate told it you was happening?

 

Make your mind up.

 

 

I said more than 50%, would you like me to say 100% then sit back and take the fallout?

 

Before he phoned me I would have said no chance, now I'm worried.

[Tott]

I said more than 50%, would you like me to say 100% then sit back and take the fallout?

 

Before he phoned me I would have said no chance, now I'm worried.

 

Glad your worried to be honest

[Tazio]

Well that's that then.

 

The last 134 years have been fun.

[Scallywag]

27 posts....it must be true !

 

I am off to stick my head in the oven.

 

Goodbye Cruel world !

[Cigaro]

How many clubs are in the same mess we are at the moment with overheads that aren't being covered by the revenue coming in? We are losing money rapidly. Businesses that lose money get closed eventually.

I'd say a lot.

[gasbottle]

27 posts....it must be true !

 

I am off to stick my head in the oven.

 

Goodbye Cruel world !

 

How many posts do you need to make?

How many games do you have to attend?

How many years do you have to be a Jambo before you are allowed to raise a point on this site?

[Better call Saul]

I will always be a Jambo and I have brought up my 2 sons to be Jambos, but surely we should be aiming for more than 2 cup wins in 50 years and challenging for a league title that we've not won for 40 odd years.

 

Well NO , the way our curent SPL is there is no danger of any other team winning something BIG FOR A LONG LONG LONG TIME

 

Unless your reliable source has told you other wise , again go to bed eh

[J.T.F.Robertson]

27 posts....it must be true !

 

I am off to stick my head in the oven.

 

Goodbye Cruel world !

 

Save yourself some money and get gasbottle to empty himself in it.

[Scallywag]

If you quote a source maybe then maybe we could start getting worried.

 

There have been hundreds of these threads in the last few years and up to now they have all been Hobbo rubbish.

[nikki 74]

27 posts....it must be true !

 

I am off to stick my head in the oven.

 

Goodbye Cruel world !

 

Hold on wait til i get there, iv not got a gas oven only leccy, jeez this forum would have anyone gassing themselves at times, bloody hell if some folk had their way there would be no more Hearts, if i wanted to read negaitve posts id join Leper.net and read their prophets of doom!!!!

[Only a Game]

I said more than 50%, would you like me to say 100% then sit back and take the fallout?

 

Before he phoned me I would have said no chance, now I'm worried.

 

Tommorrow.(Today now) Your task is to find out about administration and how it works, particularly when the debts owed by a company are effectively almost wholly owed to the holding company.

 

Then come back and tell us why on earth the holding company (UBIG) would place Hearts into administration when they stand to lose millions of pounds by doing so.

 

Then phone your source and tell him what and uniformed DICK he is !!!

 

He (Romanov) might well walk away and sell our only asset(Tynecastle) for the market land value, still walking away with a heavy loss, but he wont and probably legally CANT put the club into administration and to do so, even if he could, would make no sense and be of no benefit to him whatsover

[portobellojambo1]

How many posts do you need to make?

How many games do you have to attend?

How many years do you have to be a Jambo before you are allowed to raise a point on this site?

 

It has nothing to do with the number of years that you have followed HMFC gasbottle, the reaction relates purely to the initial post you made.

 

If you raise a point that does not go down well with the masses on here they do not wait to find out if it is true or not, they immediately assume you are a follower of Hibernian.

 

You are not the first, and will not be the last, person treated in this manner, so do not take it personally.

[gasbottle]

Tommorrow.(Today now) Your task is to find out about administration and how it works, particularly when the debts owed by a company are effectively almost wholly owed to the holding company.

 

Then come back and tell us why on earth the holding company (UBIG) would place Hearts into administration when they stand to lose millions of pounds by doing so.

 

Then phone your source and tell him what and uniformed DICK he is !!!

 

He (Romanov) might well walk away and sell our only asset(Tynecastle) for the market land value, still walking away with a heavy loss, but he wont and probably legally CANT put the club into administration and to do so, even if he could, would make no sense and be of no benefit to him whatsover

 

What if it is the holding company that is in trouble ?

How many banks or building societies can say that they are confident of achieving good results in the coming months?

[gasbottle]

It has nothing to do with the number of years that you have followed HMFC gasbottle, the reaction relates purely to the initial post you made.

 

If you raise a point that does not go down well with the masses on here they do not wait to find out if it is true or not, they immediately assume you are a follower of Hibernian.

 

You are not the first, and will not be the last, person treated in this manner, so do not take it personally.

 

I have big shoulders Portobellojambo !! Thanks for the concern.

[Scallywag]

I am not having a go gasbottle but Hearts are owned by UBIG not a bank.

 

The adimistration rumour would make no sense !

[gasbottle]

I am not having a go gasbottle but Hearts are owned by UBIG not a bank.

 

The adimistration rumour would make no sense !

 

I hope you're right Scallywag.

[blairdin]

Tommorrow.(Today now) Your task is to find out about administration and how it works, particularly when the debts owed by a company are effectively almost wholly owed to the holding company.

 

Then come back and tell us why on earth the holding company (UBIG) would place Hearts into administration when they stand to lose millions of pounds by doing so.

 

Then phone your source and tell him what and uniformed DICK he is !!!

 

He (Romanov) might well walk away and sell our only asset(Tynecastle) for the market land value, still walking away with a heavy loss, but he wont and probably legally CANT put the club into administration and to do so, even if he could, would make no sense and be of no benefit to him whatsover

 

Agree completely.

 

Genuine question - where would Hearts stand if it was UKIO Bank or UBIG as a whole that were up **** creek? Not completely implausible in the current economic climate...

[Chip Douglas]

Corporate administration is a big part of what I do. I never cease to snigger at these threads. Please, Hearts fans, I implore you, get a fecking clue before you make a total ****** rat of yourself on here.

[Geoff Kilpatrick]

Agree completely.

 

Genuine question - where would Hearts stand if it was UKIO Bank or UBIG as a whole that were up **** creek? Not completely implausible in the current economic climate...

 

That would depend on what happens to businesses who can't meet their obligations in Lithuania.

 

Assuming that they have an equivalent of administration, an administrator would be appointed to see what parts of the business can be salvaged, what can be sold and what can be closed. In our case, the first immediate impact would be to cut funding off to the club. That would probably mean administration for us. The administrator would also look to sell assets. In our case, that would mean that a buyer could probably buy the business for between ?10-20M for both the shares and the debt (assuming that such a buyer existed of course).

 

So, administration for UBIG would (a) mean no more Vlad, ( a 10 point penalty and © (touches wood) a new owner.

[Chip Douglas]

That would depend on what happens to businesses who can't meet their obligations in Lithuania.

 

Assuming that they have an equivalent of administration, an administrator would be appointed to see what parts of the business can be salvaged, what can be sold and what can be closed. In our case, the first immediate impact would be to cut funding off to the club. That would probably mean administration for us. The administrator would also look to sell assets. In our case, that would mean that a buyer could probably buy the business for between ?10-20M for both the shares and the debt (assuming that such a buyer existed of course).

 

So, administration for UBIG would (a) mean no more Vlad, ( a 10 point penalty and © (touches wood) a new owner.

 

Big assumptions there Geoff, assuming that insolvency law is even close to what we have in Scots law but I kinda get your point.

[Geoff Kilpatrick]

Big assumptions there Geoff, assuming that insolvency law is even close to what we have in Scots law but I kinda get your point.

 

Indeed. I haven't a scooby about corporate law in Lithuania and I'm not even going to try to read up on it!

 

I would say though that if corporate law is similar the board of UBIG would have to look for asset disposals prior to going into administration because it would be in the best interests of shareholders. Again though, that's a big assumption...

[Jammy T]

That would depend on what happens to businesses who can't meet their obligations in Lithuania.

 

Assuming that they have an equivalent of administration, an administrator would be appointed to see what parts of the business can be salvaged, what can be sold and what can be closed. In our case, the first immediate impact would be to cut funding off to the club. That would probably mean administration for us. The administrator would also look to sell assets. In our case, that would mean that a buyer could probably buy the business for between ?10-20M for both the shares and the debt (assuming that such a buyer existed of course).

 

So, administration for UBIG would (a) mean no more Vlad, ( a 10 point penalty and © (touches wood) a new owner.

 

Correct

 

Although not all debts being called in lead to administration. I think this is where Chip D is coming from

 

From memory it is only usually a secured debt to a bank that leads to administration. An unsecured debt to an ordinary creditor leads to bankruptcy.

 

Now, I'm guessing that if a bank got wind of a possible bankruptcy, that its agreement with the club would allow it to be placed in administration.

 

Administration allows the club to continue to trade in an attempt to see if the business can be kept alive and debts paid, bankruptcy means the doors are closed. Game over.

 

In such circumstances I am sure that UKIO would be far more inclined to go for administration of the club to buy time, as opposed to allow, say the tax man, to call in a debt and get the club bankrupted.

 

I might be wrong as I am a bit rusty on that area.

 

But lets just say, if there are vultures circling administration is the only chance for UKIO to get more money out of the situation.

 

And in any event, was it ever properly clarified that all our debt to HBOS was fully cleared? Because I dont recall that was clarified

[blairdin]

Interesting stuff Geoff and Chip - cheers.

[Chip Douglas]

Correct

 

Although not all debts being called in lead to administration. I think this is where Chip D is coming from

 

From memory it is only usually a secured debt to a bank that leads to administration. An unsecured debt to an ordinary creditor leads to bankruptcy.

 

Now, I'm guessing that if a bank got wind of a possible bankruptcy, that its agreement with the club would allow it to be placed in administration.

 

Administration allows the club to continue to trade in an attempt to see if the business can be kept alive and debts paid, bankruptcy means the doors are closed. Game over.

 

In such circumstances I am sure that UKIO would be far more inclined to go for administration of the club to buy time, as opposed to allow, say the tax man, to call in a debt and get the club bankrupted.

 

I might be wrong as I am a bit rusty on that area.

 

But lets just say, if there are vultures circling administration is the only chance for UKIO to get more money out of the situation.

 

And in any event, was it ever properly clarified that all our debt to HBOS was fully cleared? Because I dont recall that was clarified

 

JM, you've been out of the loop too long.

 

[cosanostra]

Does anyone actually believe this joker?

[flogelisgod]

Just to say, Gasbottle is indeed a good JAMBO. Although my post count isnt much, im sure there are plenty other kbers that can vouch for this.

Ps, i play beside him in the jkb team.

[Jammy T]

JM, you've been out of the loop too long.

 

 

About 8 years.

 

Bullet point summary??

[Only a Game]

What if it is the holding company that is in trouble ?

How many banks or building societies can say that they are confident of achieving good results in the coming months?

 

Presumably you'd have told us that also ?? No ??

[monkfish1979]

What if it is the holding company that is in trouble ?

How many banks or building societies can say that they are confident of achieving good results in the coming months?

 

Correct me if I'm wrong, but I don't think our holding company is either a bank or a building society.

 

Why do we even begin to give these joke threads any credence at all? Should this not be in the Gullit lounge?

[Chip Douglas]

Just to say, Gasbottle is indeed a good JAMBO. Although my post count isnt much, im sure there are plenty other kbers that can vouch for this.

Ps, i play beside him in the jkb team.

 

Not doubting he's a good Jambo but he might be better sticking to something he knows a bit about, no?

 

[Chip Douglas]

About 8 years.

 

Bullet point summary??

 

Not to denigrate the thread any further but do you make it up for many games often? Can you pass on my regards to your very good lady (despite her leanings)?

 

[Mr Romanov Saviour of HMFC]

The usual JKB trainspotters pour scorn on someones post.

 

Our team and club are a ****ing total joke.

 

Who cares thought eh,...

 

'I can get one over someone on JKB. Yay!'

 

Are you serious?

 

Don't get ****ed off wi the board, this is all Hearts fault.

 

Look at the opening post FFS. A lot of bollox.

 

Something you would have shot down yerself a few months ago.

[Only a Game]

Just open the debate up a bit(whilst ignoring the OP)

 

If Romanov is intending to get out of Hearts sometime soon, what are his options and which is the best option.

 

Does he simply wind the club up now and sell the land, which by my reckoning might conceivably leave him walking away breaking even ?

 

Or does he sell it as a going concern to a buyer, if there is someone willing to buy. By my reckoning the club is not an attractive proposition right now as a going concern unless the buyer simply wants the kudos of owning a football club, albeit in the grand scheme of things a small football club who's latent potential, limited as it might be, can only be realised with a fair bit of investment in the stadium and the playing side.

 

Or does he hang on for a couple of years until the economic situation looks brighter, and just keep things ticking over without comitting any more money. ?

 

or finally, is he in too deep now and has to see the whole thing through and make the club strong before selling ?

 

One thing is for sure in my opinion. There is absolutely NO WAY that Romanov is going to build a ?51 million stand/hotel/complex as things stand at the moment. He'd be crazy to do that if you ask me

 

Anyone with any expertise have an opinion at all ?

[Le Chat]

Does anyone actually believe this joker?

 

Nope.

[WalterEgo]

Indeed. I haven't a scooby about corporate law in Lithuania and I'm not even going to try to read up on it!

 

I would say though that if corporate law is similar the board of UBIG would have to look for asset disposals prior to going into administration because it would be in the best interests of shareholders. Again though, that's a big assumption...

I take the point that administration wouldn't appear to make much sense given the current set up. But what if money was owed to HMRC?

[Geoff Kilpatrick]

I take the point that administration wouldn't appear to make much sense given the current set up. But what if money was owed to HMRC?

 

The taxman would try to wind the business up and wouldn't give a monkey's about who the shareholders are.

[Rawrrrrrrr]

I had been told romanov was looking at restructuring/liquidation options.

 

The romanovs as majority shareholders if they could liquidise all the assets could walk away with cash in the pocket

 

Especially if they then sold the shares and name etc along with the league place to someone who wanted to suceed.

 

I.e Sell tynie, all assets. clear debts etc, pay any left as a dividend, sell shares

 

I dont know the financial gain to romanov would be great if any but its probably better than continuing to sink cash into the club

[KPAL]

It looks like we are safe meantime after Prancers vote of no confidence; ie we all know he talks B****hit.

[Martin_T]

I had been told romanov was looking at restructuring/liquidation options.

 

The romanovs as majority shareholders if they could liquidise all the assets could walk away with cash in the pocket

 

Especially if they then sold the shares and name etc along with the league place to someone who wanted to suceed.

 

I.e Sell tynie, all assets. clear debts etc, pay any left as a dividend, sell shares

 

I dont know the financial gain to romanov would be great if any but its probably better than continuing to sink cash into the club

 

The problem for them is though that value of Tynecastle will have decreased in line with the decline of the rest of the property market. I think an attempt will be made to sell Hearts and wouldn't be surprised if the Romanov's are now actively looking for a buyer. We live in hope.

[Geoff Kilpatrick]

I had been told romanov was looking at restructuring/liquidation options.

 

The romanovs as majority shareholders if they could liquidise all the assets could walk away with cash in the pocket

 

Especially if they then sold the shares and name etc along with the league place to someone who wanted to suceed.

 

I.e Sell tynie, all assets. clear debts etc, pay any left as a dividend, sell shares

 

I dont know the financial gain to romanov would be great if any but its probably better than continuing to sink cash into the club

 

 

And the losses to Ukio/UBIG?

 

Sorry for stating the obvious question.

[Rawrrrrrrr]

And the losses to Ukio/UBIG?

 

Sorry for stating the obvious question.

 

 

What losses?

 

If you where to factor in the sale of all of the land at tynie including the options on the school site etc, even in a time of decline I still reckon they would walk away with a positive balance, especially if you factor in the sale of all the other assets and money they have already received for the likes of Bednar and Gordon

 

How much have romanov and co actually spent on hearts?

 

A couple of million to acquire shares

the same over for land

the same over for players

and the debt of approx 22 million they took over from Hbos

 

Thats around 30 million I would suggest, do I think a developer would still pay that for all of the land we own or could own?

 

I would say yes

[Geoff Kilpatrick]

What losses?

 

If you where to factor in the sale of all of the land at tynie including the options on the school site etc, even in a time of decline I still reckon they would walk away with a positive balance, especially if you factor in the sale of all the other assets and money they have already received for the likes of Bednar and Gordon

 

How much have romanov and co actually spent on hearts?

 

A couple of million to acquire shares

the same over for land

the same over for players

and the debt of approx 22 million they took over from Hbos

 

Thats around 30 million I would suggest, do I think a developer would still pay that for all of the land we own or could own?

 

I would say yes

 

The fact that our debt is somewhere in the region of between ?17-23M, depending on what the accounts will show.

 

The land value of Tynecastle plus player sales (ha ha!) is nowhere near enough to offset that. The last thing you want to be selling in the UK at the moment is land, no matter where it is.

[Rawrrrrrrr]

The fact that our debt is somewhere in the region of between ?17-23M, depending on what the accounts will show.

 

The land value of Tynecastle plus player sales (ha ha!) is nowhere near enough to offset that. The last thing you want to be selling in the UK at the moment is land, no matter where it is.

 

 

Granted its not the best time but I do think Tynecastle along with the nursery site and invoking the school option would be worth enough to clear the debts and romanov off

 

Its where we would go after that...

[portobellojambo1]

The problem for them is though that value of Tynecastle will have decreased in line with the decline of the rest of the property market. I think an attempt will be made to sell Hearts and wouldn't be surprised if the Romanov's are now actively looking for a buyer. We live in hope.

 

I would agree with that Martin. But then it brings us back to what has been getting discussed on other threads recently, and that is the absolute fact that there is nobody running about out there at the moment actively looking to buy the club, wanting to sell and actually finding a buyer are two separate things, especially in the present climate.

 

Logic would make you think any potential buyer(s) would be businessmen as well (what we really need is a someone who has made their money, it is their own pot, and would therefore not have to take into consideration the impact it would have on their other business activities), and in the present climate you just have to wonder how many businessmen would be willing to take the risk.

 

It doesn't help that no one knows how long this present financial crisis will last, even so called financial experts cannot agree, vastly differing time-scales are quoted depending on who is speaking, any businessman putting up their dosh doesn't know if things will get back on an even keel money wise in 12 months or 12 years, and it is a risk factor they will have to take into account.

[Rods]

I defo think Romanov would look to sell

 

I hope so anyway

 

sooner rather than later for me