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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John Hughes
12:00 on
17 April, 2014
Bobby Russell
No. Are you?
===========================================
Don`t you remember me? 1966, you came out of Celtic Park and I got your autograph. I had a Celtic scarf on, huns wouldn`t wear them!
Hail Hail, John, you certainly did give us some great memories.
Gordonj
Yes, it’s good to see John Clark getting a round of applause. Good to see him in the dug-out alongside Danny McGrain on match day.
https://pbs.twimg.com/media/Bjv6Dz1CUAAcpuO.jpg
a Happy Bhoy
HH
John,
Tommy Burns once said that, in Glasgow, half of the public hated him and the other half thought they owned him. How have you been treated by supporters of other clubs?
john hughes
11:56 on 17 April, 2014
Hamilton Tim
Doc’s hair looks great, long and flowing round the shoulders.
That may be so John. Big question is though is the hair flowing down from his napper or sprouting out between the shoulder blades?!?
;-)
HH jamesgang
leftclick
The boys at CQN are doing a great job.
The old media were okay with Celtic mainly because of Big Jock. He fed them stories to make sure Celtic were always on the covers.
Yogi
thanks for the great memories. You mentioned Leeds at Elland Road, yeah, I was there among the Leeds fans, who were brilliant by the way. If my memory serves me well, you were sub that night and the Leeds fans around me were saying, “who’s that wee guy on the wing?” I said, you ain’t seen nothin’ yet, just wait til big Yogi comes on. Squeaky bum time whem Bremner scored though and you scored that brilliant header. Who said you had a heid like a thruppenny bit!!!!
Hail Hail
KINGLuBO
It is a little crazy here with Yogi on the blog and signing personalised messages on his new book. I have been snowed under with requests – if you haven’t had an answer from me can you please resend your email and I will get Yogi to sign.
Also anyone else wanting to get a personal message from the big guy please email david@cqnmagazine.com
Just asked Yogi about our wee pal Pat Nevin – Paul would have to ban him if he put his reply on here!
Bamboo
Are you Georgios samaras?
John, thanks for your efforts with Celtic.
Any memories of playing in Russia or other Soviet countries?
Hail hail.
RRC
Thanks. It’s nice to know I’ve got so many admirers.
bognorbhoy
Reading your last post on Oscar leaves me feeling devastated. God alone knows how his mammy and daddy feel.
God blees them all.
John .
Enjoyed this mornings stuff from yourself . No questions from me just a big thanks for your honesty , i was beginning to think that no Celtic player past or present held the same views as me, so again thank you .It just reaffirms i was right to have you as my first ever fav Celtic player.( yes i am that old ).
Hail Hail John and thanks for the many great memories from my childhood .
John Hughes
Yogi what are your thoughts on Samaras? Should Celtic try and keep him? What is his best position in your opinion?
BRTH
Get back to you shortly.
LB
That should, of course read ‘bless’. I can spell but it’s hard to see through tears.
Hail Hail John,
How do you think the referee’s of your era,…Big Tiny etc, comparé with today’s réf’s.
Were ref’s then just under less pressure from media,camera’s etc.
Thanks.
Paddy Turner
Yes, it was a winter’s afternoon. By the way, Frank Haffey only took the penalty-kick when we were leading 9-0. The fans in The Jungle were cheering for him to go up and take it. Credit the Airdrie keeper with a good save.
John Hughes, a Celtic legend.i remember meeting you on the boat over to ireland, you were heading on tour with Stranraer. Did you not fancy management?
Thanks very much dor your oart in our clubs history hh
An T
Yogy
That’s you book signed. Pl;ease email david@cqnmagazine.com with your details. Thank you.
Silly Me. Squeaky bum time was at Hampden on the return, but I’m sure you knew that.
KINGLuBO
Traditionalist 88
Financially, I don’t think it’s possible. I would love to be proved wrong, though!
BRTH
Couldn’t afford one!
Guys John is replying to all posts he is currently at 11.54 so be patient and you will get an answer.
Keep the questions coming – he is loving it. Can’t believe no one has asked him about Mo Johnston…
kitalba
11:32 on 17 April, 2014
John Hughes:…………..
………….I don’t have a question for you (other than do you remember a couple of trialists from South America coming over, and one played without boots)
___________________
Forgive me picking up on your question to Yogi.
I well remember the two Brazilians who made it into the reserve side in the mid 60s. They were Ayrton Inacio & Marco di Sousa, who later moved on to Clydebank but failed to make an impact. I was lucky enough to watch them at Celtic Park & Kilbowie.
Neither of them played in bare feet.
The guy who DID play without boots was Mohammed Salim, who spent a short while with Celtic away back in the 1930s. He played with bandages bound tightly round his feet.
winning captains
Someone did ask about mo J and John gave a forthright answer !
JJ
John Hughes. I was too young to see you play. My brother thought you were brilliant. Your responses on here show he was a good judge.
Goldstar10
Big Jock never encouraged his players to talk to the media. I recall I had a chat with a newspaper reporter and the manager was waiting for me when I came into Parkhead the following day. He handed me a blank piece of paper and a pen and told me if I wanted to write in the rest of the team. Lesson learned!
God please Wee Oscar.
winning captains
12:23 on 17 April, 2014
Guys John is replying to all posts he is currently at 11.54 so be patient and you will get an answer.
Keep the questions coming – he is loving it. Can’t believe no one has asked him about Mo Johnston…
================================
John, with the proceeds from your book sales will you take out a long-overdue cosa-nostra contract on Mo Johnston?
Yogi….Thanks for the memories.
God bless you.
Teuchter
Afternoon John
No questions, just to say looking forward to seeing you and the other bhoys in Greenock on the 6th June.
HH
Tommollach
It’s now lunchtime, so is it time to Feed The Bear?
Yes, please!
Tonyg
I don’t think anyone could do a better job than Peter Lawwell. He’s excellent at his job.
Auldheid
I’m delighted to have given you some happy memories. That’s what I set out to do when I was seventeen. And score goals.
marrakeshexpresss
Thanks. You can rest assured, I always did my best for the club.
Best wishes John,
My earliest memory of Paradise involves you in an unfortunate incident with a Dunfermline defender in the early sixties.
I was in my usual place, in the enclosure just left of the home dug out.
You were charging down the left wing towards the Celtic end when the Dunfermline guy, Jim Fraser?, tackled you but left on a stretcher right in front of me.
Anyway too many memories to list and yes I did have a blow up Yogi Bear!
Question : any chance of you being a regular poster on CQN?
EC67
Tonydonnelly
Glad to have met you. I’ve always enjoyed my time with Celtic fans.
Big John
Apocryphal story.
While you are on the field of play,you are copping abuse from some of our supporters and when you look up ,you see that a guy who is abusing you is the same guy to whom you have been providing tickets.
Urban myth?