When an asset becomes a daunting liability

1665

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.
[calameo code=00039017118d2251efdd9 lang=en page=136 hidelinks=1 width=100% height=500]

Click Here for Comments >
Share.

About Author

1,665 Comments
  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. ...
  10. 44

  1. Joe Filippis Haircut on

    Does anyone think Charles Green will pay his fine I know its only pocket change to the Geordie entrepreneur but some how I dont see him paying up.H.H.

  2. TheBarcaMole on

    TwoMacaroons 13:38 on 3 May, 2013…………..

     

     

    F.C. Andorra………….

     

     

    TBM

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

    cliftonville celt from belfast – I was at that game myself.The only other time i watched Donegal Celtic was in some junior cup final at Windsor Park.It was against Dundela,i think they were beat,it was that long ago i can’t remember the score.

     

     

    Three of us managed to get into the South Stand,with full Celtic(Glasgow) tracksuits on,the dark green ones,i think it was the year that Celtic won the cup,PVH scored the header? We were only young then.Anyway we got away with being there for about 10mins,then they threw us back into the Spion Kop.

     

     

    I wouldn’t watch that mob if they were playing outside my front door now.

  4. The Moon Bhoys on

    OGR

     

     

    Honestly mate I dont know how you can do that, come on here and suggest that maybe you have interesting sevco news for us which maybe you will reveal at some unknown point in the future, I mean why bother?

  5. TwoMacaroons on

    thebarcamole

     

     

    Cheers barca, they are on the list tallybhoy posted, as are another famous one Monaco in the French league.

  6. unionbearBhind – there is more chance of Neil Francis Lennon being the next Sevco manager and signing Ronaldo and Messi on his first day than there is of Sevco having their licence revoked by the SFA. You can forget that ever happening.

  7. Doctor Whatfor on

    A wee story about Derry/Londonderry

     

     

    In the mid to late seventies an old friend of mine and his pal were motoring across from Larne having gotten off the ferry and making their way to Derry to attend a wedding. They were stopped at an army checkpoint. No doubt a car bearing a Scottish registration and containing 2 twenty somethings looked suspicious. The ensuing conversation went something like this:

     

     

    Squaddy: Where are you going?

     

    Driver: Derry.

     

    Squaddy: You mean Londonderry.

     

    Driver, having looked at the rifles being carried by the assembled soldiers: Ok. Londonderry.

     

    Squaddy: And where are you coming from?

     

    Driver: Londonhamilton.

     

    Squaddie: Right ya pair o’ @&£?&. Oot the motor!

     

     

    True tale I tell ye.

  8. Che, Received the piece you wrote for Calton Republicans, very moving indeed. Many Thanks, God Bless You and God Bless Marky.

  9. !!Bada Bing!!

     

     

    14:17 on 3 May, 2013

     

     

    Che-were you at the bash in O’Neills last week?

     

     

    ___________________________________________

     

     

    he Definitely wiz, ya Big Big guy. hehe. ;))

  10. Kilbowie Kelt on

    oglach

     

     

    13:34 on 3 May, 2013

     

     

    If any oul fecker choses to ‘dis’ Derry again it’s fistycuffs I tell ya, fistycuffs!!

     

     

    BogsidepugulistCSC

     

    ______________________

     

    Fightin’ Derry men,

     

     

    ‘Spider’ Kelly.

     

     

    Charlie Nash.

     

     

    Paul ‘Dudie’ McCloskey.

     

     

    ‘Mad Dog’ Oglach.

  11. I like it Doc, those Security Patrols didn’t have much of a sense of humour. I know of lads who had their car torn to bits, made take off wheels etc. and left with dozens of bits & pieces of the car scattered on the road on a miserable rainy night.

  12. TwoMacaroons on

    The reason behind my musings is that old chestnut, should we get or of Scotland, I used to think no, I used to think uefa would never allow it. I don’t think that anymore, with each new revelation of the absolute corrupt governing bodies, the sickening sight of Ogilvie an smith exchanging that masonic handshake at the youth cup final with undisguised glee in their eye has convinced me. We need to get out of Scottish fitba. Asap.

  13. Doctor Whatfor on

    Corkcelt

     

     

    If memory serves me well my old friend and his driver had some reconstruction to carry out on the car before continuing to the wedding.

  14. cliftonville celt from belfast on

    TooMacaroons

     

    16 Roads

     

     

    Aye went to the match with my Da think I was about 14 think it was in 1990 – bit of a mental match worst part I remember was running across the motorway on the way home and the brits & peelers taking pot shots at you with their plastic bullet guns !!!!!

     

     

    I think it was later that year when the UFF threw grenades at the Cliftonville fans on the kop – another crazy night !!!!!

     

     

    On reflection what the hell was I thinking about going to these games !!!!!!!

  15. The Moon Bhoys on

    rougeleader @ 14.17

     

     

    wouldnt be too sure of that, they could revoke their current license, then await the ‘Sevco Must Be Saved’ campaign to swing into overdrive, and then issue them a special license which would allow them to be fast tracked. I would say thats how its shaping up.

  16. TheBarcaMole on

    Welcome mo chara; any excuse (for me) to try and rouse the old grey matter from its slumbers……… And even so, no more than a stab in the dark…….. Pub type quiz is my limit nowadays!

     

    Interesting point/observation nonetheless………..

     

     

    TBM

  17. This was probably a phrase well used in Scotland as well as Cork but when I was growing up the phrase SFA was liberally used to describe a myriad of situations. Being worth SFA meant having Sweet F**k All, or in other words having zilch.

  18. Fifty Shades said @ 11.49

     

     

    My nephew From Ek is with the pro youths at lennoxtown( under 12′s).and i know that his parents are worried about the effect it would have on thier

     

    lives when he reaches that stage. Do you know if schooling at St Ninians is compulsary or optional ?

     

     

     

    Sorry for tardy reply – been oot (as itn is cool to say on CQN).

     

     

    Anyway, my understanding is that it’s compulsory, which explains the 6.30 am. bus departure from EK Mon – Friday. For kids from further afield they have to ‘lodge’ (can you say that on here?) and stay for the week with local families. It’s a massive committment but is obviously supposed to bring eventual returns. Hope that helps.

  19. hen1rik

     

     

    14:27 on 3 May, 2013

     

     

    I think more e-people (not Celtic people) are now realising that the SFA is indeed Rangers, yesterdays article by Paul was wonderful, not in a gloating sense but a sensible article that shows why Celtic are so far ahead of the curve.

     

     

    http://www.youtube.com/watch?v=KtBbyglq37E

     

     

    Get back online SFTB ya stubborn old git. ;)))

  20. Bit of Friday Good News – UEFA Stats – just updated on official site:

     

     

    Ranked/ Club/ Comp/ Games 12-13/ Pts/ Co-E:

     

     

    25/ Celtic/ UEFA CL/ 8/ 16.00/ 16.86

     

    98/ Hearts/ UEFA EL/ 0 1.50/ 2.36

     

    99/ Motherwell/ UEFA EL/ 0/ 1.50/ 2.36

     

    122/ Dundee Utd/ UEFA EL/ 0/ 1.00/ 1.86

     

    141/ St Johnstone/ UEFA EL/ 0/ 0.50/ 1.36

     

     

    Guess who has disappeared off the UEFA list??????????

     

     

    Only checked them out cause someone said: that had Chelski not won the CL last year + Spurs/ Man City poor co-es – then the EPL would have lost a CL place.

  21. 16 roads - Neil Lennon walks on water. on

    petec – I am trying to learn my friend,it’s just melting my scone at times.I read one thing,then such and such is a Mason,other ones are calling other ones Masons.The Jews,the Ra,everybody is involved.

     

     

    cliftonville celt from belfast – think 92 they fired their pishy grenade into the Kop at us – “em dirty Fenians keep puttin’ our windys in so they do!” And the Redmen went mental hinkin’ it was the Ra hittin’ the peelers.And the watery hun cants were like wee silent lambs in their North Stand section F.

  22. Here is the reason there will be no Sevco licence withdrawal….it would be global news.

     

     

    That move would be unprecedented and bring journalistic attention from all around the world. If you were in the SFA would you want to answer any of the following questions from journo’s who have not sold their souls like ours have?

     

     

    1) What was in the 5 way agreement?

     

    2) Why did you bypass your own rules to award Rangers a licence in the first place?

     

    3) Who was the architect of the plans to bypass sporting meritocracy and place Sevco higher in the league structure, once the decision was made to bypass your rules and award a licence?

     

    4) What information were you given on Charles Green and his consortium?

     

    5) What checks did you carry out on Charles Green and his consortium?

     

    6) Why were the FIFA laws on recourse to a public court for footballing matters not applied to Sevco?

     

    7) Why is your heavily conflicted chairman, former RFC company secretary, still in post?

     

     

    Those are the questions a real journalist would ask after only a few minutes of reviewing the Rangers story.

     

     

    There is no way a beacon for real journalists will be put up.

  23. voguepunter on

    16 roads – neil lennon walks on water.

     

     

    I could have swore ‘melting your scones’ was a pastime of yours after I saw you Saturday:0)

     

    HH

  24. thetimrieper on

    corkcelt

     

     

    SFA was also known as Sweet Fanny Adams, a young lassie

     

    that was murdered and not much was left of her.

     

     

    Read this somewhere.

     

     

    HH

  25. My boss is Peter Principle on

    The Moon Bhoys

     

     

     

    14:10 on 3 May, 2013

     

     

    It’s a game he plays.

     

     

    OG you said on Sunday your Scoop was to do with Asian investors being paid and Chuckles walking away ….or is this another one of your Nuclear bomshells that you want everyone to keep asking you for info about?

  26. Hamiltontim on

    VP

     

     

    Sorry been busy doing that thingy I get paid for :-)

     

     

    I keep my phone beside my bed waiting for your call honey!!

     

     

    Vmhan

     

     

    Nothing ‘old firm’ about it ya rascal :-)

  27. thomthethim on

    Copied over from the end of last thread at Auldheid’s request.

     

     

     

    auldheid

     

     

    12:49 on 3 May, 2013

     

    KevJungle

     

    There is a saying that goes “BE the change that you want to see in the world”

     

    If for example a person wants a more tolerant world then they BE tolerant themselves.

     

    For a more caring world BE caring etc etc.

     

    On the dubious assumption,given your continued focus on it, you want more SBs to be sold why not BE an SB holder?

     

    Instead of focussing on all that you perceive missing from Celtic why not look at all the good things that are present and support that, whilst working away positively and effectively on areas that can be improved.

     

    Be part of the solution rather than part of the problem.

     

    Be the Celtic you want to see in the world by being part of a gift from God to so many, perfectly flawed so that we can use our human talents to make it something we can return with love.

     

    We are God’s gift to ourselves. What we make of that is our gift back to God. It would be a shame to return the gift unopened.

  28. Steinreignedsupreme on

    The Moon Bhoys 14:10 on 3 May, 2013

     

     

    Try not to get too upset about it. OG delivers on a regular basis with ‘bad news for Sevco’ stories. He has nothing to prove on that score.

  1. Pages:
  2. 1
  3. 2
  4. 3
  5. 4
  6. 5
  7. 6
  8. 7
  9. ...
  10. 44