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When an asset becomes a daunting liability

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With Ukio Bankas bankrupt there is an acceptance that Hearts, who owe the bank in the region of £15m, will go into administration shortly after the end of the season.  This might not be the case.

Hearts major problem is their major asset, Tynecastle Stadium, which occupies a valuable patch of land in Edinburgh.  If administrators acting on behalf of Ukio have free access to the stadium they may shut it and look to recoup their loans by selling the land.  There is a possibility Hearts could be a football club without a stadium, but that does not necessarily mean they will go into administration.  Without a stadium to use the club would be liquidated but there is a possibility they would be able ground-share.

Hearts tested the land value before the property crash and received an offer of £22m from a house builder.

Alternatively the bank’s administrators could use their considerable influence over how the club is managed to sell their shares or come to some other arrangement (Ticketus, anyone?). When the major creditor has this much control of the company without administration, going through the formal process could actually harm their chances of getting their money back.

Hoops 4 Haiti, who assist in the relief of poverty and suffering in Haiti, are holding a traditional Irish music night at Roderick Dhu on Waterloo St, Glasgow on Saturday 11 May.  Live entertainment and a buffet for only £7.50, get your tickets here.  You can find out more about Hoops 4 Haiti here.
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  1. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    HAMILTON TIM

     

     

    using his free time wisely …..

     

     

    Nice one,bud-and again my thanks for your help last week.

     

     

    Organising,making sure I got home….

  2. KevJungle – “Walk-On” in the Jungle = Bliss

     

     

    12:40 on 3 May, 2013

     

     

    hmmmm…so that’s whit it’s like ?

     

    ________________________________________

     

     

    KevJ you are just like all the rest……..

     

     

    A podium lover.

     

     

    FFS

     

     

    I liked you as weeel.

     

     

    HH m8.

  3. 16 roads - Neil Lennon walks on water. on

    proudbhoy – give me a wee break,please.

     

     

    If Derry was that good…

  4. Hamiltontim

     

     

    I’m well HT counting down to a wee trip to see ma Mammy, roll on the 15th. We’re staying in the Cyldesdale Hotel which is very close to Equi’s for jelly and ice cream..

     

     

    Is Peter Lawwell backing your meteoric rise to the top? I think we should be told!!

  5. 16 roads – neil lennon walks on water.

     

     

    12:32 on 3 May, 2013

     

    This is like them old Godfather films.

     

     

    proudboy – it’s a town,a town.You understand that.

     

     

     

     

    Yep im happy with that.

     

     

    What about where i live now, perth in australia ? Town / city ?

  6. Doc

     

     

    Merci, we’ll catch up very soon.

     

     

    BMCUW

     

     

    You’re welcome my friend. You’re a good guy despite your Ayrshire origins it was nice to let others see that.

  7. 16 roads - Neil Lennon walks on water. on

    I read the article first before i posted.

     

     

    Not that it matters.

     

     

    It was a good read anyway.

  8. 16 roads – neil lennon walks on water.

     

     

    12:44 on 3 May, 2013

     

    proudbhoy – give me a wee break,please.

     

     

    If Derry was that good…

     

     

     

     

    Who mentioned it was good ?

     

     

    Like belfast (but not as bad ) it has gone downhill with bad economy and a split republican community allowing the dirt of the community to run mad.

     

     

    Sad times.

  9. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    HAMILTON TIM

     

     

    Away for a wee greet after that one….

  10. tomtheleedstim on

    Huns official site – “signings must be right fit”

     

     

    I thought Charles had left the building but he appears to be still writing the headlines.

  11. Starry

     

     

    Took my girls for Equis on Tuesday night. They’ve put their prices up but it’s still worth it!!!!

     

     

    You up for a coffee or a beer during your trip?

  12. Jobo Baldie

     

    12:38 on

     

    3 May, 2013

     

    Heading down to Troon this afternoon for some afternoon tea, courtesy of my fine mother-in-law.

     

     

    Any local weather reports?

     

     

    …………………………………………………………………………………………………………………..

     

     

    Nice day today.

     

     

    8 degrees, raining and 50 mph winds.

     

     

    HH!!

  13. 16 roads - Neil Lennon walks on water. on

    proudbhoy – You are relentless my friend.

     

     

    I have no idea if Perth is a city or a town,or a swamp – as i have never been there,therefore i do not consider myself qualified to speak or pass judgement on the said place.

     

     

    Also,i have no intentions of ever going there.

  14. That Wiki reference to The Billy Boys needs fixing……………..

     

     

    much convenient puffery an’ general hunguffery promoted spuriously with overt references to the Busted Flush………………

     

     

    HH.

  15. KevJungle – “Walk-On” in the Jungle = Bliss

     

     

    ye are always off oot ya nutter. ;) oh yo yo know that you have SPAWNED A new breed a new Crede. Celts that talk about Celtic on Celticquicknews.

     

     

    16 roads, yer name is inspirational. I will always know you now as Jimmy though. ;)

  16. 16 roads - Neil Lennon walks on water. on

    Thanks petec – I appreciate that my learned friend.

  17. NatKnow - "We welcome the paper-chase..." on

    16 roads – neil lennon walks on water.

     

     

    12:32 on 3 May, 2013

     

    This is like them old Godfather films.

     

     

    proudboy – it’s a town,a town.You understand that.

     

     

    NatKnow – “We welcome the paper-chase…” – I could build a wee wooden hut out in my back garden,and put a wee sign up…saying “My City” – it doesn’t necessarily make it a city.

     

     

    Inverness is Inverness,it reminds me of Troon,only colder.

     

     

    I guess it all depends on what criteria you are applying to define “city” status.

     

     

    Chicago is a city (Christy tells us that).

     

    Dublin is a city (Molly tells us that).

     

    Glasgow is a town (Eartha Kitt – not rhyming slang – tells us that).

     

     

    Coatbridge is an Independent Republic. We know this from experience.

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