Martin_T Posted November 20, 2008 Share Posted November 20, 2008 http://www.dailyrecord.co.uk/football/sfl/2008/11/20/livingston-face-liquidation-if-tax-payment-is-not-made-86908-20909873/ Elliot could be back here sooner than anticipated..... Link to comment Share on other sites More sharing options...
MackaysCentreSpot Posted November 20, 2008 Share Posted November 20, 2008 Livingston face liquidation if tax payment is not madeNov 20 2008 By Gary Ralston CRISIS club Livingston are teetering on the brink of financial meltdown. Record Sport can reveal the Inland Revenue are threatening the First Division outfit with liquidation after they defaulted on their debt repayment plan. The taxman has ordered the Italian owners of the Almondvale club to immediately cough up the money they owe, believed to be around ?100,000, or a winding up order will be issued. The Inland Revenue refused to comment, claiming they don't discuss individual cases, but it's believed they held summit talks with the owners - led by lawyer Angelo Massone - last week. Sources claim Livingston have been given until next week to come up with the sums outstanding or the club could go to the wall. It's understood Massone is trying to raise fresh finance less than six months after he led a buyout of previous owner Pearse Flynn. However, co-partner Tomasso Angelini fiercely denied Livingston are in trouble with the Inland Revenue and threatened to sue if we ran with the story. He said: "There is no such pending order from the Inland Revenue. We have absolutely no problems and make regular payments to them." Flynn sold out for ?1million in June because liabilities, which he insists were fully disclosed, far outstripped assets and disquiet has been growing in recent months about Livi's financial strength. There are up to 100 creditors, many of them small, local businesses, who have still to be paid by the new owners. One creditor, former club photographer and website administrator Alex Todd, revealed to Record Sport last month he has even considered freezing Livi's bank accounts. Massone claimed never to have heard of Todd, who is owed around ?1600, even though he sent him a letter three weeks earlier telling him to contact Flynn for his cash. Massone later promised to look into his claims but last night Todd said: "I've had no contact whatsoever since with Massone or anyone else connected with Livingston." Already this season there has been a delay in the payment of player bonuses and it is believed the wages of non playing staff were also up to a week late last month. Angelini added: "We don't discuss internal matters or procedures." Office and admin staff are holding their breath ahead of next Thursday when monthly salaries are due to be paid. Our source said: "It's amazing they've kept it quiet for so long. Unless drastic action is taken immediately the club's future is in serious doubt." . Link to comment Share on other sites More sharing options...
Fourcandles Posted November 20, 2008 Share Posted November 20, 2008 http://www.dailyrecord.co.uk/football/sfl/2008/11/20/livingston-face-liquidation-if-tax-payment-is-not-made-86908-20909873/ Elliot could be back here sooner than anticipated..... What a co-incidence - 5mins ago I was just going through a list of late payers to chase up with my credit controller - they owe me ?400 odd quid from May - not good. Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted November 20, 2008 Share Posted November 20, 2008 http://www.dailyrecord.co.uk/football/sfl/2008/11/20/livingston-face-liquidation-if-tax-payment-is-not-made-86908-20909873/ Elliot could be back here sooner than anticipated..... Wouldnt be able to play til january anway We would in essence be paying for a player we couldnt afford and would be a creditor of livi. Cant see it happening anyway, reckon they will just get a new repayment plan. Link to comment Share on other sites More sharing options...
ChemicalJambo Posted November 20, 2008 Share Posted November 20, 2008 I reckon the ditching of Bes and any big name sales in January will be due to a Inland Revenue enforced recovery plan. No insider info, just my take on the rumours about someone other than Romanov selling Link to comment Share on other sites More sharing options...
The Merse Posted November 20, 2008 Share Posted November 20, 2008 Wouldnt be able to play til january anway We would in essence be paying for a player we couldnt afford and would be a creditor of livi. Cant see it happening anyway, reckon they will just get a new repayment plan. Aye he would. Link to comment Share on other sites More sharing options...
werwolf Posted November 20, 2008 Share Posted November 20, 2008 They could raise the cash by allowing fans of other clubs to slap that ****** with the drum at ?1 a time. They'd make a fortune Link to comment Share on other sites More sharing options...
K1874M Posted November 20, 2008 Share Posted November 20, 2008 Will ignore this as it seems like a story about something that could happen... ie most of the stories about Hearts. Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted November 20, 2008 Share Posted November 20, 2008 Aye he would. Source? I am almost certain he can only play for 1 team per window and we wouldnt be able to reregister him to hearts until January When Riordans contract with hibs was due to run out in October he couldnt sign for another club until the January He could maybe go for special dispensation but given he wouldnt be in the same position as the out of work players im not convinced he would get it Link to comment Share on other sites More sharing options...
The People's Chimp Posted November 20, 2008 Share Posted November 20, 2008 Massone claimed never to have heard of Todd, who is owed around ?1600, even though he sent him a letter three weeks earlier telling him to contact Flynn for his cash. Massone later promised to look into his claims but last night Todd said: "I've had no contact whatsoever since with Massone or anyone else connected with Livingston." Link to comment Share on other sites More sharing options...
The Merse Posted November 20, 2008 Share Posted November 20, 2008 Source? I am almost certain he can only play for 1 team per window and we wouldnt be able to reregister him to hearts until January When Riordans contract with hibs was due to run out in October he couldnt sign for another club until the January He could maybe go for special dispensation but given he wouldnt be in the same position as the out of work players im not convinced he would get it Common sense suggests if a loan deal was terminated and he was to return to the club he is contracted to that he'd be allowed to play. Link to comment Share on other sites More sharing options...
Martin_T Posted November 20, 2008 Author Share Posted November 20, 2008 I think the chap Todd is merely implying that there has been no contact with Livingston since the initial letter, although I see how it could be interpreted otherwise... Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted November 20, 2008 Share Posted November 20, 2008 Common sense suggests if a loan deal was terminated and he was to return to the club he is contracted to that he'd be allowed to play. I see a flaw:rolleyes: Link to comment Share on other sites More sharing options...
Martin_T Posted November 20, 2008 Author Share Posted November 20, 2008 Common sense suggests if a loan deal was terminated and he was to return to the club he is contracted to that he'd be allowed to play. Plus the one club per window doesn't apply to loan transfers, otherwise all loans would be for 6 months or more.... Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted November 20, 2008 Share Posted November 20, 2008 Plus the one club per window doesn't apply to loan transfers, otherwise all loans would be for 6 months or more.... Difference between emergency loans and normal loans though Elliot wasnt an emergency loans, emergency loans have different rules and are for 93 days max Maybe someone else will be bothered to check the SFA rules, but im fairly sure that we would need special dispensation to play him early Link to comment Share on other sites More sharing options...
Commander Harris Posted November 20, 2008 Share Posted November 20, 2008 Source? I am almost certain he can only play for 1 team per window and we wouldnt be able to reregister him to hearts until January When Riordans contract with hibs was due to run out in October he couldnt sign for another club until the January He could maybe go for special dispensation but given he wouldnt be in the same position as the out of work players im not convinced he would get it "The Association may in its absolute discretion, in exceptional circumstances,sanction an application for registration of a professional player outwith the Registration Periods subject to specific conditions and Board approval." source: sfa handbook I imagine a club going out of business would constitute "exceptional circumstances". Link to comment Share on other sites More sharing options...
The Merse Posted November 20, 2008 Share Posted November 20, 2008 source: sfa handbook I imagine a club going out of business would constitute "exceptional circumstances". Prancer - FAIL. Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted November 20, 2008 Share Posted November 20, 2008 "He could maybe go for special dispensation but given he wouldnt be in the same position as the out of work players im not convinced he would get it" Last paragraph of post 9. DMCG - Fail Elliot would still be getting paid by hearts, and hearts wouldnt be a player down as we wouldnt have expected him back til January. I honestly reckon the SFA would turn it down Link to comment Share on other sites More sharing options...
Commander Harris Posted November 20, 2008 Share Posted November 20, 2008 Prancer - FAIL. that was not my intention. Prancer is essentially right there, it's just a question of whether the SFA would judge it as exeptional circumstances(or "special dispensation" as prancer put it) I believe they would, prancer thinks they wouldn't. You never can tell with the SFA. Link to comment Share on other sites More sharing options...
The Merse Posted November 20, 2008 Share Posted November 20, 2008 "He could maybe go for special dispensation but given he wouldnt be in the same position as the out of work players im not convinced he would get it" Last paragraph of post 9. Commander Harris and DMCG - Fail Elliot would still be getting paid by hearts, and hearts wouldnt be a player down as we wouldnt have expected him back til January. I honestly reckon the SFA would turn it down Na they hate us too much for that. Link to comment Share on other sites More sharing options...
Commander Harris Posted November 20, 2008 Share Posted November 20, 2008 ta for the edit Prancer. Link to comment Share on other sites More sharing options...
Flimsy Posted November 20, 2008 Share Posted November 20, 2008 It just shows the utter indifference we feel towards Livingston Football Club that rumours of their potential demise barely causes a ripple and all we can talk about is whether one of our least popular players ever will be returning to the club. If the news is true it is no surprise to me, I understand Pearce Flynn left the club in a dreadful state. Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted November 20, 2008 Share Posted November 20, 2008 It just shows the utter indifference we feel towards Livingston Football Club that rumours of their potential demise barely causes a ripple and all we can talk about is whether one of our least popular players ever will be returning to the club. This is no surprise to me, I understand Pearce Flynn left the club in a dreadful state. I would quite fancy a look at a few of Livi's players They havent been all that bad this season. The left back (Talbot), Captain (McPake), Griffiths , De Vita (injured now but amazing pre season apparently) and a few of the midfielders would be well worth a look Could even get Joe Hamill back:p Link to comment Share on other sites More sharing options...
Commander Harris Posted November 20, 2008 Share Posted November 20, 2008 It just shows the utter indifference we feel towards Livingston Football Club that rumours of their potential demise barely causes a ripple and all we can talk about is whether one of our least popular players ever will be returning to the club. If the news is true it is no surprise to me, I understand Pearce Flynn left the club in a dreadful state. I think if it actually happened there would be more of a fuss. I'm not putting much credence in this daily record article though, it's in their interest to make it as "interesting" as possible. Link to comment Share on other sites More sharing options...
Guest juvehearts Posted November 20, 2008 Share Posted November 20, 2008 source: sfa handbook I imagine a club going out of business would constitute "exceptional circumstances". Yes it would but this is a loan agreement between Hearts & livi & if someone had a brain at hearts we would & should have acted upon the clause of recall within 24hrs to play for hearts again. regardless of a loanee or not, elliot is a heart of midlothian player & we pay his wadge so we can play him when ever he returns from duties with Livi. Link to comment Share on other sites More sharing options...
Commander Harris Posted November 20, 2008 Share Posted November 20, 2008 Yes it would but this is a loan agreement between Hearts & livi & if someone had a brain at hearts we would & should have acted upon the clause of recall within 24hrs to play for hearts again. regardless of a loanee or not, elliot is a heart of midlothian player & we pay his wadge so we can play him when ever he returns from duties with Livi. I'm not sure that's correct. Yes he is a Hearts player but his registration with the SFA is with Livingston. You can only change registration during a window. I *think* this applies for loan players also. my reading of the spl handbook re registrations seems to suggest that loans work the same way, although I could be misinterpreting that. see http://www.scottishfa.co.uk/res/documents/SFAPublication/SFAHandbook/13RegProced.pdf Link to comment Share on other sites More sharing options...
Rawrrrrrrr Posted November 20, 2008 Share Posted November 20, 2008 Yes it would but this is a loan agreement between Hearts & livi & if someone had a brain at hearts we would & should have acted upon the clause of recall within 24hrs to play for hearts again. regardless of a loanee or not, elliot is a heart of midlothian player & we pay his wadge so we can play him when ever he returns from duties with Livi. You cannot recall a loan unless its an emergency loan and this is because the rules are different Elliot cannot be recalled, if Livi goes bust he will come back, but be ineligible unless we get special dispensation Christ we will probably end up with a 3 point deduction for playing him Link to comment Share on other sites More sharing options...
Martin_T Posted November 21, 2008 Author Share Posted November 21, 2008 http://www.dailyrecord.co.uk/football/sfl/2008/11/21/scottish-power-could-pull-plug-on-livingston-over-50k-debt-86908-20912216/ SCOTTISH POWER are ready to turn the lights out on crisis club Livingston over their failure to pay their bills. The utilities giant will send representatives to Almondvale today in a final, desperate bid to persuade the owners to tackle their mounting debts. Record Sport can reveal Livingston have not paid their bills for at least the last eight months and now face a demand for almost ?50,000 as fears for their very existence grow. The Almondvale outfit have also been ordered by FIFA to pay ?43,000 to Blackburn Rovers as part of a sell-on fee for ex-defender David McNamee but have so far failed to stump up. Former chief executive Vivien Kyles, a qualified chartered accountant, resigned from the club's board on Tuesday as money worries mount. Respected media consultant Maurice Smith, part of the Lionheart group that also included former chairman Pearse Flynn, has followed her out the door. It's understood they have both become increasingly concerned about the direction the club is heading. A long string of creditors are now chasing the club for cash, including the club's former website administrator and the company that handles the travel account for Italian consortium boss Angelo Massone. Scottish Power are one of the biggest creditors and have finally run out of patience and if the money they are owed is not paid today, even in part, they will set in motion the process that will lead to their power supply being cut off. That will happen towards the end of the year unless the club's owners address the situation. Scottish Power declined to comment, claiming it doesn't discuss individual customer accounts. But Livi may not even make it beyond the end of next week after Record Sport revealed the Inland Revenue have demanded an immediate payment of around ?100,000 after the First Division club defaulted on its debt repayment plan. If the money is not forthcoming the Inland Revenue are likely to seek a court order that could see the club put into liquidation. However, consortium co-boss Tomasso Angelini again denied there was an issue with the Inland Revenue. He threatened to sue the Record if we ran with our story but there was no reaction from Almondvale yesterday to our exclusive. Angelini told the BBC: "There are no financial problems at the club. Everything is positive." However, Angelini did not return calls to Record Sport on their difficulties with Scottish Power. Livingston are facing financial meltdown less than six months after Massone and his consortium took over the club from Irish tycoon Flynn. They paid only ?1 because the club's liabilities far exceeded its assets but have struggled since to pay off up to 100 creditors, many of them small, local businesses. Originally, the Italian consortium was four strong but insiders say directors Tomasso Bruno and Alessandro Di Mattia have not been seen at the club since August and suspicions about their commitment have grown. Non-playing staff at Livingston are also fearful for their futures after payment of their salaries was delayed by up to a week last month. Players have already been forced to wait for bonuses this season and union boss Fraser Wishart is keeping close tabs on the situation. An insider said: "The situation is growing more and more worrying. The Italians must find a fresh injection of funds immediately or the club could go to the wall. "We hope they can find new investors and the club can move forward, but at this stage it doesn't look likely." Looking increasingly bad for Livi... Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted November 21, 2008 Share Posted November 21, 2008 So, if they do go under, who's going to bid for that bloody drummer in the firesale? Link to comment Share on other sites More sharing options...
marshallschunkychicken Posted November 21, 2008 Share Posted November 21, 2008 I'd take that Griffiths boy at Tyney. I think he might be a hobo though. Link to comment Share on other sites More sharing options...
Martin_T Posted November 21, 2008 Author Share Posted November 21, 2008 So, if they do go under, who's going to bid for that bloody drummer in the firesale? The drummer aside Geoff.... There are a couple of relevant points to Hearts from the Livi situation: Firstly, the Record does not seem to have picked up on the many creditors that Hearts allegedly owe. Secondly, small creditors in the Livingstonn situation are probably far more ready to pull the plug, because they know the reputational damage and business impact etc will be minimal, whereas the small creditors with Hearts know that pulling the plug on HMFC could cause real damage to their business. Fair points? Link to comment Share on other sites More sharing options...
Charlie-Brown Posted November 21, 2008 Share Posted November 21, 2008 I'd take that Griffiths boy at Tyney. I think he might be a hobo though. Both Hearts & Hibs could have signed Leigh Griffiths when he was younger - they didn't because the kid is a ned , also he's a Hobo tramp just like Riordan. Link to comment Share on other sites More sharing options...
EC_Hearts Posted November 21, 2008 Share Posted November 21, 2008 So, if they do go under, who's going to bid for that bloody drummer in the firesale? The drummer is no more at Almondvale. Deasel (sp) fell out with the club after they insisted that he stopped trying to influence the training sessions. There was some other rumour about weekly draw money but it's not as funny Link to comment Share on other sites More sharing options...
Cyclojambo Posted November 21, 2008 Share Posted November 21, 2008 Hope it doesn't happen to them. We wouldn't want to lose Lothian's next biggest team after Hearts. Link to comment Share on other sites More sharing options...
JamboSean Posted November 21, 2008 Share Posted November 21, 2008 If Livi do go bust I wonder how many 'Lions' will be tempted to come along to Tynecastle every second week? Link to comment Share on other sites More sharing options...
Miller Jambo 60 Posted November 21, 2008 Share Posted November 21, 2008 It just shows the utter indifference we feel towards Livingston Football Club that rumours of their potential demise barely causes a ripple and all we can talk about is whether one of our least popular players ever will be returning to the club. If the news is true it is no surprise to me, I understand Pearce Flynn left the club in a dreadful state. Livi can go to the dogs for me, not interested ,in saying that they done the hobos for the wee cup. Just hope that clown that banged his drum is happy. What a pain. Link to comment Share on other sites More sharing options...
Mr Romanov Saviour of HMFC Posted November 21, 2008 Share Posted November 21, 2008 Both Hearts & Hibs could have signed Leigh Griffiths when he was younger - they didn't because the kid is a ned , also he's a Hobo tramp just like Riordan. He was at Hibs up until a few years ago. If he screws the nut he will be a great prospect. As you say though, total ned. Link to comment Share on other sites More sharing options...
Adi Dassler Posted November 21, 2008 Share Posted November 21, 2008 If i thought for a split second they were a proper club with a loyal fanbase then i would wish them all the best. As they are neither i couldn't really give a badgers ****** about them. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.