dmc Posted May 16, 2013 Report Share Posted May 16, 2013 Good post Bud....If the Info from the media is correct regarding Hearts then this is really a non story. They don't have any outstanding debt on their current agreed arrangements and have a 2 year deal with the bank for interest only payments which are up to date. UBIG can call the full amount in but that can never be paid. The timescale for all this to happen will take many months.....Keeps Sevco out the news I suppose Aye cheers, jist kill ma only hope of promotion ya d1ck!!!! .......... Quote Link to comment Share on other sites More sharing options...
stlucifer Posted May 17, 2013 Report Share Posted May 17, 2013 (edited) As far as I can make out. Even with the bank declaring insolvency, Hearts are an asset and as such, there should be a delay while things are organised so they are more likely to start next season with a points deduction. I think the investigation by the SPL lawyers might be more to do with protecting themselves from repercussions from whichever way it pans out. As for the situation should they fail to last. I thought that, with Dundee already officially relegated, the vacant place would be taken by Morton. On revisiting the issue I have since realised that the situation with Sevco last year occurred AFTER Dunfermline relinquished their SPL membership so, unfortunately, that "technicality" means Dundee are still part of the SPL and would remain. Edited May 17, 2013 by stlucifer Quote Link to comment Share on other sites More sharing options...
Guest somner9 Posted May 17, 2013 Report Share Posted May 17, 2013 The key issue for hearts is that Ubig who own 79% of Hearts, and to whom Hearts own £10m or more have gone into voluntary insolvency. That is not contested! add to that the report here from less than two weeks ago: http://www.bbc.co.uk/sport/0/football/22411103 Where hearts declare losses of £1.65m, still owe HMRC £1.5m, and needed a share issue that raised about £1m to just keep going... all tells us that they are bust not only with liquidity but also with assets as Ubig&Ukio effectively own all the assets and both are insolvent as is the club! Potentially this could be worse for them than it was for sevco! Given there are third parties involved (Ubig/Ukio). Remember how eager sevco's third party Lloyds were to take the cash Whyte conned from ticketus to rid themselves of that risk! Can anyone see a lithuaninan administrator/liquidator giving a flying f**k about Romanov's vanity project, or a few thousand grumpy jambos? When they can, they will get the most back that they possibly can. Now a consortium could come together to (Save) hearts, in that instance the admim/liqd will be looking for them to commit to paying back the lot, which would only delay the inevitable as income would plummet when they are relegated and pennyless to improve their squad. Quote Link to comment Share on other sites More sharing options...
Seaside Nipper Posted May 17, 2013 Report Share Posted May 17, 2013 Must they be relegated according to SPL rules ?? Is it possible they could avoid relegatiuon altogether if they stumbled on until after the season ended, thereby seeing Dundee away and then Hearts would be recommencing next season with a -17 pts handicap ???? I would not be surprised at all at this outcome. Quote Link to comment Share on other sites More sharing options...
faraway saint Posted May 17, 2013 Report Share Posted May 17, 2013 Must they be relegated according to SPL rules ?? Is it possible they could avoid relegatiuon altogether if they stumbled on until after the season ended, thereby seeing Dundee away and then Hearts would be recommencing next season with a -17 pts handicap ???? I would not be surprised at all at this outcome. That's what Dundee supporting mate is led to believe could be the outcome. Quote Link to comment Share on other sites More sharing options...
billyg Posted May 17, 2013 Report Share Posted May 17, 2013 "Stumbling on" wouldn't save them from relegation if the parent co is declared insolvent by Monday ! Quote Link to comment Share on other sites More sharing options...
shull Posted May 17, 2013 Author Report Share Posted May 17, 2013 Are Hearts deid yet ? Whit aboot the Pars ? The Newcunto F.C., still with us ? Quote Link to comment Share on other sites More sharing options...
Seaside Nipper Posted May 17, 2013 Report Share Posted May 17, 2013 "Stumbling on" wouldn't save them from relegation if the parent co is declared insolvent by Monday ! What about any time in the summer , rather than Monday. Say they popped so to speak on June 30th ? Quote Link to comment Share on other sites More sharing options...
Kendo Posted May 17, 2013 Report Share Posted May 17, 2013 Are Hearts deid yet ? Whit aboot the Pars ? The Newcunto F.C., still with us ? Naw, naw, aye. Quote Link to comment Share on other sites More sharing options...
shull Posted May 17, 2013 Author Report Share Posted May 17, 2013 Naw, naw, aye. Boo, Boo and f**ken Boo ! Quote Link to comment Share on other sites More sharing options...
insaintee Posted May 17, 2013 Report Share Posted May 17, 2013 Newcunto are not with us. They are below us. Quote Link to comment Share on other sites More sharing options...
shull Posted May 17, 2013 Author Report Share Posted May 17, 2013 Newcunto are not with us. They are below us. Below ground would be perfect. Quote Link to comment Share on other sites More sharing options...
Kendo Posted May 17, 2013 Report Share Posted May 17, 2013 Boo, Boo and f**ken Boo ! Dry yir eyes ya big baby. Quote Link to comment Share on other sites More sharing options...
shull Posted May 17, 2013 Author Report Share Posted May 17, 2013 Dry yir eyes ya big baby. It'll be my troosers needing dried if The Newcunto F.C. die. Quote Link to comment Share on other sites More sharing options...
insaintee Posted May 17, 2013 Report Share Posted May 17, 2013 Dry yir eyes ya big baby. He's a big fecking Jessie Quote Link to comment Share on other sites More sharing options...
shull Posted May 17, 2013 Author Report Share Posted May 17, 2013 He's a big fecking Jessie And you're a nae neck grinning fudfairy !!! Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted May 17, 2013 Report Share Posted May 17, 2013 I'd rather see Dundee relegated - Hearts will be a basket case next season if they do survive in the SPL whereas Dundee could use the reprieve as a stepping stone to better times much like Motherwell did in 2002/03. Quote Link to comment Share on other sites More sharing options...
insaintee Posted May 17, 2013 Report Share Posted May 17, 2013 And you're a nae neck grinning fudfairy !!! kyle.jpg Love you Kyle Quote Link to comment Share on other sites More sharing options...
smcc Posted May 18, 2013 Report Share Posted May 18, 2013 Archie MacPherson, in today's Herald, is banging on about keeping Hearts in the SPL at all costs. http://www.heraldscotland.com/sport/opinion/archie-macpherson-pragmatism-must-win-over-a-banishment-that-would-threaten-games-very-existence.21112808 Thoughts? Quote Link to comment Share on other sites More sharing options...
shull Posted May 18, 2013 Author Report Share Posted May 18, 2013 Archie MacPherson, in today's Herald, is banging on about keeping Hearts in the SPL at all costs. http://www.heraldscotland.com/sport/opinion/archie-macpherson-pragmatism-must-win-over-a-banishment-that-would-threaten-games-very-existence.21112808 Thoughts? He's an auld tit, ignore him. He spouted aw this shite last year regarding The Newcunto F.C. Quote Link to comment Share on other sites More sharing options...
RickMcD Posted May 18, 2013 Report Share Posted May 18, 2013 He's an auld tit, ignore him. He spouted aw this shite last year regarding The Newcunto F.C. I think he's wrong too, Shull, but just you watch the football authorities break and bend the rules, maybe even create new rules to keep Hearts in the SPL. They came precious bloody close to letting Rangers away with it last year and got caught out by the fans and by the SFL. They've had plenty time to think about Hearts because everybody and their granny knew it was coming. I've got no faith in the SFA or SPL and I wouldn't let them organise a social club's bingo sessions. They would cheat. Quote Link to comment Share on other sites More sharing options...
insaintee Posted May 18, 2013 Report Share Posted May 18, 2013 Heart in the SPL next year, 15 point deduction and a signing ban. And relax Quote Link to comment Share on other sites More sharing options...
Bloomsbury Bud Posted May 18, 2013 Report Share Posted May 18, 2013 It's all our fault for lying down to Celtic in 1986. Three words. One: Craig. Two: Beattie. Three: Fcukum'. When Saints played Hearts last season at Tynecastle in the Scottish Cup, a good friend of mine was invited to a corporate day at Tynecastle. At halftime (immediately after Beattie equalising) I'm told a 'well refreshed' Saints director started making his opinion heard all around the hospitality area that Hearts were a 'cheating shower of cnuts'. I'm also told it was pretty funny and even the Hearts staff (the Scottish ones) had the good grace to look embarrassed about the verbals being dished out. As the 'well refreshed' director in question has posted on other threads, I'll reserve the right not to put a name to it. However, be assured at the top level Saints have 'mixed it' with Hearts. Quote Link to comment Share on other sites More sharing options...
Kendo Posted May 18, 2013 Report Share Posted May 18, 2013 Why does everyone get so excited about this? There will be lawyers from Dundee and The Rangers watching this very closely. The authorities will need to do what is legally correct or they will be sued. Let them do their job. As for Archie, he is a journalist expressing his views, he supported us in the great 8-8-8 debate. Leave him alone Quote Link to comment Share on other sites More sharing options...
Bud the Baker Posted May 18, 2013 Report Share Posted May 18, 2013 Just thinking, following Rangers demise last season Dundee were promoted, Mon' the 'Ton - feels a bit odd saying that! Quote Link to comment Share on other sites More sharing options...
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