There is a degree of relief (in some quarters) mixed with surprise that Hearts creditors have agreed to a CVA, allowing the club to exit administration. Although administration seems to be a natural state for many in Scottish football, remarkably few have subsequently gone to the wall in the last 100 years.
Third Lanark perished in 1967, an exception during many decades of solvent behaviour. Airdrieoneans (not to be confused with the current club by that name, which is the renamed and relocated Clydebank FC) were liquidated in 2002, with the chastising words of creditor Sir David Murray ringing in their ears. Oh how well irony played its hand.
Murray’s own club, Rangers (not to be confused with the current club by that name), were next to be liquidation after creditor, HMRC, stuck by their published rules and rejected a proposed CVA.
Apart from this, a remarkable series of campaigns, such as ‘Well worth saving’ and ‘Save the Jags’ has seen supporters step forward and find the money to save their club from that ominous fate.
There appears to couple of rules if you want to escape liquidation. Try to ensure 75% of your creditor value is owed to shareholder-creditors or the bank. Many clubs survive on directors’ loan accounts, which are ultimately forgiven in administration. Banks too have been reluctant to kill the local totem, with good commercial reason.
The major thing to avoid appears to be breaking tax law. HMRC are prevented by its own terms of business from forgiving tax debt which has been run up through illegal tax evasion. This was the case at (original) Rangers, who conceded some of their tax dealings were not legal during 2012’s Lower Tier Tribunal. The balance of cases are disputed and currently subject to an Upper Tier Tribunal.
Hearts success makes for an interesting SPFL Championship race this season. With three games to go Dundee hold a two point advantage over Hamilton. The winner will go up, second place will face a play-off, but neither club will fancy fighting Hearts for promotion next season. I can imagine the despair elsewhere to the news that Hearts will be a Championship club next season. Poor Ally will need to get his game together.
Remember, John Hughes will be on CQN tomorrow morning. Tune in with your questions for him.
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That madrid goal looked well offside to me.
Leftclick
U mean… they have to cancel the order of 50,000 tshirts with a picture of dave king…
on a white horse…
with a union jack on it….
67Heaven @ 16:39 on 16 April, 2014
I received the same reply from JPT about the Glasgow Cup match. Suppose everybody got the same wording?
Craig Whyte really is a piece of shite,I once knew his auld da and he is an even bigger piece of shite.
But that photo in Disney is hilarious……
TheplotwasconcoctedinLanarkshireSteelworksCSC
Real score…offside
Pinto is shoite
Riskorrie,
That is the man. Used to come and work summer camps with me at college. Good man. Got him in the hoops at one point. Haven’t seen him in a number of years.
Thanks
Sean
Justafan
Nothings changed. It’s all about the money. In fact under this lot more so.
HH
proud to be part of the celtic family
20:26 on 16 April, 2014
That is a more lucid reply than I have ever received from my emails on the subject to all parties.
I’m currently trying to get to Fraser Wishart. I’m hopeful, if I’ve hit his inbox that he will reply. I think he lacks knowledge, but is on the whole OK.
awe naw….
Since 1892 its always been about the money.
BRTH,
Your frustration is palpable. I have read enough from you to trust your opinion but Celtic are losing a PR battle with their own fans. They need to do something.
Di Maria was offside for the Real Madrid goal.
The Barca goalie Pinto should have saved it.
He is a liability .
TT
No apologies for reposting this from KDS – nail on head !!! ….
Wee Ed KTF Today, 1:40 PM
Murphio, I agree with you to an extent. I too miss the games, the competition and the rivalry. I miss that intensity – the nervous anticipation prior to the Derby games, the passion and thrill of the match itself, the euphoria of scoring goals against them, the ecstasy of victory, even the desolation of defeat, the emotions of studying the League table and attempting to predict the outcome of future fixtures in the Championship race, the excitement created by them failing at a hurdle and then us capitalising on that failure. It was exciting and intense and thrilling. All those emotions.
However, it was all a huge lie. It was all false, all an illusion created by a cheating club and a corrupt game.
In the last few years we have learned, via the wonderful and much appreciated efforts of the Timternet bampots, that their financial doping (or cheating as I prefer to call it) was of an industrial scale over two decades – Murray, Masterton, the BoS, the DOS, the EBTs, etc – aided and abetted by a willingly compliant media and corrupt football authorities. Even today, Heavily Conflicted Ogilvie is still SFA president despite his insider knowledge of Rangers’ cheating and his £95000 EBT (the price of a good night out in Glasgow, according to Chick Young), Bryson is still in a cushy SFA job (no questions asked, no analysis made), Dallas is at UEFA, Dougie Dougie McDonald is ‘developing’ referees, etc.
For me, ‘missing’ Rangers is akin to ‘missing’ Ben Johnson or Lance Armstrong. Also lies. Also cheats.
Scottish football is still corrupt. The media are still willingly compliant. For instance, where’s the media scrutiny of the bigoted bile belted out by the huns at the Ramsdens Cup Final and at the Scottish Cup semi-final? Where’s Vincent Lunny’s investigation of these obscenities? He is investigating Leigh Griffiths (and rightly so), but he did not hear or witness the sectarianism on Saturday at Ibrox, a stadium which was officially a neutral venue under SFA control. I certainly do not miss the poison, the toxicity that pollutes that club.
If the ‘new’ Rangers were apologetic and contrite for cheating and singlehandedly almost destroying Scottish football instead of being hate-fuelled and threatening, if they were honest and, yes, genuinely dignified instead of being menacing and supremacist, then perhaps I’d be more willing to forgive and forget their crimes. However, Sevco is (as one KDS poster eloquently described) the same flies on a different turd. They have demonstrated no willingness to compete on a level and honest playing field.
So, I cannot forgive and forget. They cheated Celtic, Celtic fans, the rest of Scottish football and indeed European football. I will never again trust that a competition with them is fair and honest. I want to witness their extinction.
IMHO this is not just our war.. it’s all of scottish football’s war to fight. We play under the sfa’s banner and if they call them rangers then we need to toe the line. There are another 40 clubs. Yes we are by far the biggest but are we supposed to prop the game up AND fight all their fights for them. We are already seriously disliked in Scotland, should we go and make it worse for our club and our fans ? Imagine the bad decisions we would see if the sfa then decided to be more blatant in their dislike for us ? Imagine how bad the msm would get. Celtic are probably angry about what is going on but publicly they can’t be seen to be the ringleaders. Lawelll probably knows how bad things are over next to the govan asda so he is toeing the party line and allowing them to kill themselves without putting our boot in.
maybe aye, maybe no
Got shot down on here a few times re my take on the Barca boys and the incredible energy ‘boost’ Spanish sport has had for last 10 years.
The German scientists will expose them all soon.
I can’t wait.
justafan
Your dad should have told you to write to Desmond White, – he handed me my season ticket personally, at his Bath St, Accountants office.
I am setting myself up here ,but here goes anyway.
I don’t think that Lionel Messi is the same player since he came back from injury.
There I said it.
TT
I will add he may still score goals ,but he doesn’t run the show the way he used .
He was perpetual motion and always on the ball.
Maybe he is off the steroids now.
TT
Tom Molach
Wishart is a Hun apologist ….
Suggesting he lacks knowledge ….is very kind
Bourne….
Guess I was about 6 at the time!!!!!
justafan
20:45 on16 April, 2014
Sure I never have had a problem with that. Paying to watch elite sport. Founded for charitable reasons and then Old Firmed. No debate. My point however is about tickets, season tickets, ticket packages etc.
HH
‘Wishart is a hun apologist’
No shit Sherlock!
;-)
embramike –
Thanks for posting that.
Time for Dexter, Season 7, Episode 10….
Tinytim,
Nothing to play for. I bet he is saving himself for Brazil. He is well advised.
HH
bournesouprecipe
19:43 on
16 April, 2014
thomthethim
“Ich bin ein Berliner”
“Ich bin ein Tim” was – I believe – that actual quote.
All the top stars know the Hoops – eg Bob Marly asking Dixie Deans about us……
(PS if there’s an all-night debate about the pros and cons of JFK then I’m not to blame – honest!)
;-)
HH jamesgang
ryecatcher
20:42 on 16 April, 2014
What photo?
Some great comments today on the general state of Scottish football and the problems that appear to be mounting for Sevco as a result of their apparent innability to generate enough cash/income to break even over the course of next season.
While the comments are interesting and do give us a laugh does anyone actually know what the financial situation is down Govan way?
Does anyone even know if the recently proposed loans have been drawn down?
Does anyone know the outcome or the details of the completed financial revue by Graham Wallace?
I personally have no information on most of those questions but I did hear that the loans were not yet drawn down and had been arranged to offset the expected ringfencing of monies to cover the litigation and court costs brought against Sevco by Iman Ahmed.
I don’t know to much about G Wallace but he doesn’t strike me as the kind of person who is in on a con, I honestly believe he is out to do his best, whether the results of his review will allow Sevco to continue in their current form without entering administration is one of those intangible questions that I don’t think we have enough knowledge of to really speculate with any great accuracy.
One thing is certain however, Sevco in whatever form will not compete with Celtic for at least a decade, they are a busted flush and have no prospects of challenging us on the field of play for years. Their only hope lies in finding a good young manager with talent who can build a team on a budget, Sleeket Sally isn’t that person though.
I just hope they don’t look down my way at Dumbarton as they currently have the best young coach in Scotland in Ian (Billy) Murray.
So while there are those in Scotland’s press who want a real challenge for Celtic to come from Govan, it ain’t going to happen any time soon so we better just used to winning the league year after year. As someone who endured the now liquidated RFC cheating their way to 9iar I have no problems with us winning league after league and to be honest I don’t see why it should be down to Celtic to find a solution for us not having a realistic challenger at present. When Murray was spending the banks money to win titles no one was asking for RFC to share some of their CL money.
Would fans be happy for some of the money generated by Celtic’s participation in the CL to be handed to Sevco to allow them to forster young talent which may deny us a cup or even a league title?
The problems of uncompetitive football isn’t unique to this country so for me solution to the problem has to lie with FIFA and UEFA.
For me FFP is a start in addressing the problem but to affect real change UEFA has to be proactive in reorganising leagues all over Europe, I’m not talking about joining the English league but something along the lines of the Atlantic league that encompasses a pyramid system is a starting point.
Celtic now have 2 members of our board in powerful positions within European governing bodies and I honestly believe that our taking up these positions is part of a stategy by Celtic to affect positive change that will allow us to achieve our goals in the future.
Anyway off to watch some second rate Spanish teams competing in a wee diddy cup competition, TTFN
Tiny tim……
Will form my opinion of the current Messi after the World Cup…….
Suspect you might be right…..but will wait and see.
Barca are not a very good side at the top level these days.
IfthedrugsdontworkCSC
eddieinkirkmichael
Look up on the internet.
Mibbery
Shame game fallout
Jim Farry
Most domestic titles world Record and cross reference it with Rangers European Record.
Enjoy the read see you in 20 years when your finished ;-)
HH
So Pepe Guardiola is the dealer ?
JohnMartinCSC
Mullet and Co 2
I am not saying Celtic are powerless, I am saying their power is limited and that to effect change they need to get other clubs on board with their arguments.
These arguments are business based and each club they try to persuade will be asking what is in it for them.
eddieinkirkmichael,
I have stopped posting, but couldn’t resist… What a sensible post. It is not up to Celtic to name, fund or justify our opposition. We just have to beat them.
Hail Hail!
Stevebhoy
(See, mm!)
Awenaw…..
Pep is very tactically astute manager,and needed to get away from Spain…..
Why did he leave when he did?
Auldheid
15:08 on
16 April, 2014
67Heaven … I am Neil Lennon, supporting WEE OSCAR..!!.. Ibrox belongs to the creditors
As a wise old nun once told me ” You can wear slippers or carpet the world.” I’m wearing slippers on this one.
I’ll make a prediction. Once the whole truth comes out, not just the financial doping by BoS, or tax evasion but the attempts at covering it all up by the SFA, the LNS Commission (what a lie that is btw) , the smsm and lies told by CW’s Rangers, then by CG’s RIFC/TRFC, the last thing anyone will want it is to be associated with that revealed memory or its history.
In fact the truth is so unbelievable we will be accused of making it up, yet the evidence is all there right now, but no one wants to look for fear of what it reveals about Scottish society.
Auldheid
As a contributer to the cause (Resolution12) who in your opinion will do the reporting of all that has still to come ?
BRTH
Any further thoughts on a CQN travel club?
TinyTim
Messi def no so tidy these days, so to speak….
Completely agree with you……
Dunno why.
One reason already mentioned. Possibly.
Also look at how Michael Owen (and Torres) so quickly lost their killer pace when they fought the battle against overplaying and hammies and lost….?
Or maybe the conspiracy theorists are right and it’s down to the Spanish chemical conspiracy….
HH JamesGang
embramike, thanks for reposting, that’s exactly how I feel, though I never made it a game v oldco.
anybodyelsesittingonthesofawithteirbeenieoncsc
Scottish Farcical Association?
Pfayr supports weeoscar
20:50 on 16 April, 2014
Aye, agreed, so he is.
http://pfascotland.co.uk/2012/news/statement-on-protective-award-claim/
Has Canamalar been gagged and kidnapped for some unknown reason ?
HH