Trending
Celtic News Now
Celtic Quick News on News Now
Celtic Quick News
You are at:»»Flats, flats, glorious flats

Flats, flats, glorious flats

1023
By on CQN BLOG & Comments

News that Hearts are set to go into administration today will give Scottish football has yet another morality lesson to consider, but this time, there will be no pleas for rule changes, no lobbying by the massed ranks of the media for other clubs to ‘do the right thing for Scottish football’, as opposed to the actual right thing.  Hearts will face their fate with a straight bat.

This is an unusual football insolvency.  Normally clubs go into administration when they cannot cut costs quickly enough to satisfy a creditor but on this occasion it was the way the club’s debt was structured which caused the problem.

While Celtic have long term loans with fixed repayment terms stretching years into the future, Hearts owed money to their own shareholders, most of which was repayable on demand (as almost all non-term loan bank borrowing is).  If Hearts shareholder-creditors had issued loans instead of an overdraft, as long as the club continued to make repayments administration would not be on the table.

Ukio Bankas and UBIG, once both controlled by Vladimir Romanov now both insolvent, extended generous credit to the club without the formalities of an agreed repayment schedule.  This informality led to their ultimate downfall.

I’ve read interesting views elsewhere that the absence of Rangers International from the SPL has claimed a further victim but there is no evidence to suggest that RI FC playing in the SPL would have sufficiently supported the Lithuanian property and investment market to prevent the collapse of the country’s banking system.

As far as we are concerned it is business as usual but there could be a crunch coming.  All we can do is look after Celtic (principally by buying season tickets, never underestimate how important this is) and let nature take its course.  If the crunch comes to Kilmarnock (I know, how would this be possible with a sharp kid like Michael Johnston in charge?), St Mirren, Motherwell and others, the game here needs to come up with something more radical than a unitary league body.  Any ideas?  I’ve one.

You can buy Willie Wallace’ autobiography below:


Delivery Options




[calameo code=0003901713852289beccb lang=en page=12 hidelinks=1 width=100% height=500]
Click Here for Comments >
Share.

About Author

1,023 Comments
  1. Pages:
  3. 1
  4. ...
  5. 18
  6. 19
  7. 20
  8. 21
  9. 22
  10. 23
  11. 24
  12. 25
  13. 26
  14. 27

  1. hen1rik on

    tommysbhoy

     

    23:56 on

     

    18 June, 2013

     

     

    Now we know why the little runt bolted to America.

     

     

    We should’ve known what he was like when he didn’t print old clubs troubles when Sir Walter wanted to win league title.

  3. hen1rik on

    Drambowiecelt

     

    00:16 on

     

    19 June, 2013

     

     

    I believe if a majority of celtic fans emailed the club and let them know our feelings then we could stop this in its tracks.

     

     

    If that doesn’t work then an organised protest to Hampdump.

  4. Drambowiecelt on

    kojo we are laughin at your post providing its naw rainin etc

     

    class my friend.the cart is rizin wee fras hens canalamars piles

     

    aw naws crabs etc etc insert who you like.

  5. A Ceiler Gonof Rust on

    RalphWaldoEllison remembers ALS victims Jimmy Jonstone & John Cushley 00:08 on 19 June, 2013.

     

    ……………………………..

     

     

    I heard this on radio Scotland driving back from Aberdeen today. I wondered then if our ministers rhetoric would apply to international football clubs with the word international in their name, or if the international tax evasion / avoidance he wants to clamp down on exclude international companies and international football clubs within his own jurisdiction who had the “international” name in their title.

     

     

    International may simply mean any place outside of the uk that is not guided by the stretched out masonic hand.

     

     

    International.com

  8. winning captains on

    Repost from this morning for those who missed it.

     

     

    Last week in a gloating statement on their website they claimed that “the panel at the London Stock Exchange” endorsed their claim that they are the same club. This “fact” was also included in their submission to the ASA, who accepted it in good faith.

     

     

    Last week we contacted the London Stock Exchange to confirm that they had given them such an endorsement and in a humiliating development for Rangers International – the Stock Exchange has this morning confirmed to CQN that the claim has had to be removed from their website.

     

     

    The senior official in charge of the Review at the ASA has been made aware of the withdrawal of this claim – forced on Newco by the London Stock Exchange.

     

     

    The revised article – with the deletion of the claimed endorsement from the panel at the London Stock Exchange – is available here:

     

     

    http://www.rangers.co.uk/news/headlines/item/4100-scotlands-most-successful-club

     

     

    So in conclusion it seems to be clear that “the panel at the London Stock Exchange” are NOT happy to endorse them as being the same club. One wonders what the ASA will make of their misleading submission in this matter?

  10. tommysbhoy on

    Hen1rik

     

    i your right there the wee shit that he is

     

    canamalar1 earlier posted some of his intentions regarding getting 100 shareholders involved i think thats a good start..hopefuly it will build into something substantial and we can all stand together and show this mob we wont take they’re lies and coverups anymore..plc have to know what we’re about h.h

  11. Drambowiecelt on

    @clunks that guy baffled me sorry. if you were going to put a song on cqn

     

    please explain how you would do it step by step and then I will try it

  13. clunks on

    Drambowie

     

     

    sorry. I am a visual guy. tried to explain in a previous post and thought a visual might help

  14. hen1rik on

    Martin1Williams the journo who has just backtracked and says rangers exist but check this link from a year ago http://t.co/QmhUwlSoGO

     

     

    Just another day in the life of a journalist with no balls in Scotland scared of threats or maybe he’s just a sevconian supporter finding it hard that his club is gone forever.

  16. A Ceiler Gonof Rust on

    GG, when I’m anywhere in America the Bass Pro shop is like a second home to me. The one in Islamorada is small but a half day out in itself, well for me and my bhoy it is:-)

     

     

     

    I’ll be hoping to be back over there next year probably early to do some deep sea fishing and I’ve still got a date with Mr Tarpon who has completely eluded my bait to dait.

     

     

    Cool bananas, I just love the Key’s.

     

     

     

    Hail Hail

  19. Drambowiecelt on

    clunks

     

    thanx mate im just computer dyxlexic. Now that im posting again I wil get one of the boys to go thru it with me.As the weans say granda its naw hard lol.

  25. 'GG on

    acgr

     

    Robbie’s is an easy place to catch a tarpon and you don’t even need a hook and line.

     

    They’ll bite your hand off for a piece of bait fish.

     

    http://www.robbies.com/

     

    I have been known to stalk their web cam on a cold and snowy NJ day.

  27. Tontine Tim on

    Maley’s Bhoy

     

     

    When in States we look for an Outback, good food, plenty of it and reasonable prices.

  29. A Ceiler Gonof Rust on

    Here’s a couple of vids of the last home game against the mini huns when the Glorious Green Brigade stole the show. Myself and young ACGR were right in the middle of it all courtesy of my good friend BMCUWP who kindly swapped his family tickets for mine in the gods of the North Stand.

     

     

    More than a day out than a day at the football.

     

     

    http://www.youtube.com/watch?v=jUkkoveQKGo

     

     

     

    http://www.youtube.com/watch?v=6COPWCMp7VQ

     

     

     

    Ha haaaaaaaaaaaaaaaaaaaaaaa. What a day out.

  30. A Ceiler Gonof Rust on

    Clunks, a great song and very apt given the state of the huns both sides of the water.

     

     

    Does anyone have any news on how the new shop at Glasgow airport is coming along? It was supposed to have opened weeks ago but my old muckers on hunmedia are still saying its imminent………………………………so is the cure for their brain damage.

     

     

    I’m flying out of Glasgow on the 4th July and hope the nice Celtic shop at the top of the escalator is not sullied with a sevco shop next door. That would almost make me want to fly from Prestwick.

  31. Drambowiecelt on

    @rust never sleeps

     

    god bless they videos captured for all time. oh oh oh its magic.

  33. Margaret McGill on

    Here’s one for the books….

     

     

    Did you know that Vladimir Romanov has written a couple of kid’s books.

     

    Yes. It’s true.

     

    But not on purpose.

  34. Drambowiecelt on

    Best feakin post of the year cqn

     

    East Fife are the benchmark.

     

     

     

     

     

     

    The blessed martin csc

  36. Margaret McGill on

    I think if Celtic supporters are to survive into the 21st Century any further with the stamp of an egalitarian future in the spirit of brother Walfrid without the huns as a mill stone we need to find our role as Post Modern androgynous monkeys just to be unique. Ken likesy. Otherwise we’ll be like the same Hearts and Hibs Argentina once invited in 1952.

     

     

     

    http://www.gerryhassan.com/uncategorized/the-scotland-of-sixty-years-ago-and-what-it-says-about-us-today/

     

     

    a jubilee ago

  37. Margaret McGill on

    Have you ever seen those documentaries where the lionesses seem to treat with depraved indifference the murder of their own young to the perceived powers that be? I still feel that Celtic is a healthy robust lioness that still doesnt call the shots compared to its diseased nemesis.

  38. A Ceiler Gonof Rust on

    Maggie, tell this drambowiecelt nothing and you and I will disappear into the sunset on a green pedallo with a couple of fishing rods and a f^*k the bored video.

     

     

    Bring yer speedo’s and some bait.

  40. Margaret McGill on

    A Ceiler Gonof Rust

     

     

    01:18 on 19 June, 2013

     

     

    ok. I’ll bring bait.

  42. Drambowiecelt on

    Stop using big words like future and brother@@@

     

    we will always be unique Ken notlikesy?

     

     

     

     

     

     

    jubileeupyerarsso

  1. Pages:
  3. 1
  4. ...
  5. 18
  6. 19
  7. 20
  8. 21
  9. 22
  10. 23
  11. 24
  12. 25
  13. 26
  14. 27