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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Perspiration is just a sweaty word :-) HH SS
Richie, YNWA HH
Just heard on the radio that SEVCO asking BBC to stop broadcasting?
Richie,
Hard time to get through, but you’ll no doubt have great memories of your dad.
May he rest in peace.
Richie, it’s a sair yin to lose your dad. One of my wooden prayers will be said for you and your family.
Hull cardiff game on – hull win they are promoted.
Players to watch for – robbie brady hull left winger/ striker–next big thing for ireland. On loan from man united
David meyler -hull centre mid- on loan from sunderland. Cork man . Loves celtic, wolfetones and a good hard tackle
They have the legendery paul mcshane left back.
Goodluck hull.
Richie
Sorry for your loss
Just drove by duke st. There’s bunting and butcher aprons along the haghill section,good to see pushing the boat out to celebrate their first ever trophy,embarrassing or what,
Sorry for your loss richie
Them,typo
SuperSutton@12:45
Good post. I raised the exact same point yesterday.
Lennys knows what he can + can’t do regards his ban. There is more to come on May 23rd methinks.
The Battered Bunnet .@ 12 38..
The skint and desperate ‘ Honest Men ‘ of Ayr gave Minty a knock back because they didn’t like how Minty was proposing to fund the business [ and himself ].
He was welcomed with open arms [ and empty heids ] at Ibrox only a few months later.
Proudbhoy
So david meyler loves a good hard tackle ;)
Was there not an mp with similar loves
David mellor that was ,)
Ritchie
Sorry for your loss
HH
Richie
Sorry to hear your news mate,its a sore one , I know.
My thoughts and prayers for you and your loved ones.
HH
Richie
So sad to hear about the loss of your dad. I’ll remember him in my prayers. RIP.
Richie
Deepest condolences on your sad loss.
richie thoughts and prayers for you and your family at this sad time. Y.N.W.A.
KTF
HH
Flicking through the channels waiting on Cardiff game to start and I noticed that somehow,someone from the SFA must have gave the engraver of the 3rd Div cup permission to engrave r*****s fc instead of The r*****s.
Surely it’s about time this charade was put to bed for good.
Cowan – “So no interview with John Cruyff?” Brilliant!
Richie
My condolences on the sad news about your father. My thoughts are with you + your family.
Watford keeper been down for a while. Looks pretty bad.
Didn’t look much of a challenge.
Richie- sorry to hear of your loss of your dad. Stay strong.
I don’t think I have ever enjoyed a victory celebration as much as I did today’s Ibrox extravaganza.
Absolutely priceless.
Ejecting the BBC team was a master stroke. Pure class.
Thanks, Sevco.
Sorry for your loss richie.
.
G’Day fae a Absolouter and Dreich Dark Down-Uder..
Got the Big Fire Blazzing tho..
Summa of MagicMarshmallowsCSC
Lots going on in the Championship down south. That wee rat Davis has Notts Forest into the play offs as things stand. Hull could be going up but Zola’s Watford could still catch them.
How are the established Rangers doing against the new The Rangers?
Sevco have emptied the BBC from Poundland,the pundits and commentator regained entry by using their Season Tickets.
SoT
To be fair to him, he built up a profitable metals business in the 80s and 90s, and his first 6 years at Rangers changed the game in some respects.
Something seems to have ocurred from 1996 onwards, and by the early 2000s he was entirely detached from reality. It is quite conceivable that he has a degenerative cognitive illness given the deteriorating pattern of behaviour.
£925M was the sum owed to LBG when the bank reined him in. Since then, the business has crashed into insolvency, and been saved only by LBG swapping debt for shares on a massive scale while they await markets recovering such that assets can be cashed.
Murray himself is now diluted to dishwater, with less than 5% of the equity in the business, and has simply no chance of ever seeing any value from that, beyond the handsome salary the bank permits him.
I think sociopathologists have an exquisite case study.
.
BlantyreTim..
Just a Thought..You know How I’m a Big Thinker..:-)
Why don’t You rent a Mobility Scooter for a Few weeks..Would help You get Off Oot..
Summa of SocialNetworkScooterCSC
ten men won the league
13:02 on 4 May, 2013
SuperSutton@12:45
Good post. I raised the exact same point yesterday.
—–
Sorry I missed your post. Great minds think alike or fools seldom differ?
Just my view with no inside knowledge but recognising that Neil is an intelligent person.
I think if Boro could afford to bag BTM they would.
Whats happened at the asbestosdome today? Have I missed some new hilarity?
Richie, condolences, you and yours in my thoughts today.
Have they actually said the BBC story was false? Threatened to sue them?
Richie,
May your Da’ rest in peace, sorry to here about your loss today..
Wolves 2 down and heading for League One.
Calling Mr Doyle?
Leicester move above (as it stands ) N Forest.