Blue Forever 179 Posted June 17, 2013 Author Share Posted June 17, 2013 http://forum.rangersmedia.co.uk/index.php?showtopic=254126 Quote Link to post Share on other sites More sharing options...
better than all the rest 153 Posted June 17, 2013 Share Posted June 17, 2013 I cant see them coming out of admin, Also Dunfermline have to find a buyer tomorrow all this done just a the league taker over was agreed. I am sure sky and BT sports will be pleased with the news. Quote Link to post Share on other sites More sharing options...
mitre_mouldmaster 21,509 Posted June 17, 2013 Share Posted June 17, 2013 "Hearts will go into administration within the next 24 hours.Papers have been lodged with the court of session in Edinburgh to formally begin the process.KPMG will be the company taking on the administration of the troubled Tynecastle club, while staff have been informed of the situation.If Hearts remain in administration by the opening of season 2013-14 in August, a points deduction of 15 points would be incurred.Players were not paid last week as Hearts continue to struggle with a cash shortfall.And the Scottish Premier League outfit then placed their entire squad up for sale, claiming they needed £500,000 to keep them running over the summer.That followed the threat of a winding-up order after Revenue and Customs threatened action over an unpaid £100,000 tax bill, although the majority of that sum has been paid.Hearts owe £15m to Ukio Bankas, which has been declared bankrupt.The liquidator of the Lithuanian bank can sell the 29.9% shareholding it has in Hearts as well as Tynecastle Stadium, which was held as security for the debt.In addition, another £10m is due to the club's Lithuanian parent company, UBIG - who have close to 50% of the shares and is claiming insolvency.A liquidator with the power to sell UBIG's Hearts shares will only be appointed if the company's bankruptcy is formalised.All the assets of UBIG have been frozen by the Lithuanian courts."The bit ive highlighted in red doesn't seem right to me.Hearts were not given a deduction as the SPL judged that they hadnt suffered a administration event last season so if it happens after the last game of last season then surely the points deduction should automatically take effect next season. Seems grossly unfair that you could go into administration every summer and reduce your debt in theory if you wanted. Hearts were quick enough to put the boot into us when we went into Administration so I am very keen to see them get booted about as much as we were,Might be unfair, but if they find a way round the rules, then that is their right.I bet if they are forced to NewCo, that they only go down a division though. Not even sure if they can NewCo right enough, think the stadium is too tied up. Quote Link to post Share on other sites More sharing options...
Mr Soprano 13,964 Posted June 17, 2013 Share Posted June 17, 2013 Quote Link to post Share on other sites More sharing options...
jimgers 565 Posted June 17, 2013 Share Posted June 17, 2013 Scummy club and scummy fans,f@ck them to hell. Quote Link to post Share on other sites More sharing options...
The Educator 1,572 Posted June 17, 2013 Share Posted June 17, 2013 So what will happen then after this? Company liquidated?Thought I'd take a mo' to try and work this one out. Boy could this turn messy. I don't see how they can come back as anything other than a new co. As the club has no assets I can't see how a CVA would work, remember they don't own Tynecastle and as we have seen what little playing staff they have can't be forced to join the new owners of the club. The PFL have somewhat screwed them over by due to their stance on Rangers. So what would a new owner be buying? Basically the name of the club and its history.Let's say that they allow a Hearts new co to enter the top league, do share holders in Rangers have a right to sue for financial damages against the member clubs of the SPL who voted us out on the ground of an unfair application of the rules. Remember the SPFL has not actually come into existence yet.The big question now is will this reveal that the SPL had fudged their investigation into whether or not Hearts were insolvent or not. If it can be proven that they did and Hearts were insolvent then there could be ground for an appeal to have the reconstruction vote nullified. I don't see this being settled before the new season starts which will probably cause more problems for the games administrators. Quote Link to post Share on other sites More sharing options...
mclovin9091 1,388 Posted June 17, 2013 Share Posted June 17, 2013 Bye bye hearts, nice to know you. Nae cunts gonna buy them Quote Link to post Share on other sites More sharing options...
GOAT 30,449 Posted June 17, 2013 Share Posted June 17, 2013 :lol: Quote Link to post Share on other sites More sharing options...
The Educator 1,572 Posted June 17, 2013 Share Posted June 17, 2013 Since when did administration result in going down to the Third Division?When you're called Rangers. Quote Link to post Share on other sites More sharing options...
The Godfather 72,059 Posted June 17, 2013 Share Posted June 17, 2013 When you're called Rangers.The Rangers Quote Link to post Share on other sites More sharing options...
CalvinC 1,414 Posted June 17, 2013 Share Posted June 17, 2013 Hahahhahaha. Quote Link to post Share on other sites More sharing options...
linfield1690 4,249 Posted June 17, 2013 Share Posted June 17, 2013 And kick them again and keep kicking them no surrender WATP Quote Link to post Share on other sites More sharing options...
Gillete 1,338 Posted June 17, 2013 Share Posted June 17, 2013 I can see the Lithuanian administrators giving the stadium to a buyer (of the football club) for pennies just to get something They will come out of it smelling of roses I'm sure Quote Link to post Share on other sites More sharing options...
Albertz 78 918 Posted June 17, 2013 Share Posted June 17, 2013 Karma.Bunch of cheats who fixed a game to keep us out of the Champions league.Die Hearts scum die. Quote Link to post Share on other sites More sharing options...
The Godfather 72,059 Posted June 17, 2013 Share Posted June 17, 2013 Quote Link to post Share on other sites More sharing options...
GOAT 30,449 Posted June 17, 2013 Share Posted June 17, 2013 AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA Quote Link to post Share on other sites More sharing options...
GOAT 30,449 Posted June 17, 2013 Share Posted June 17, 2013 Can we have a 900 page thread just full of laughing smillies please? :lol: Quote Link to post Share on other sites More sharing options...
The Educator 1,572 Posted June 17, 2013 Share Posted June 17, 2013 I can see the Lithuanian administrators giving the stadium to a buyer (of the football club) for pennies just to get something They will come out of it smelling of roses I'm sureI don't know if they do that as it is possibly one of the assets that could raise a decent fee. Remember the ground is worth a lot more than the stadium that sits on it. Quote Link to post Share on other sites More sharing options...
Johnny Hubbard 280 Posted June 17, 2013 Share Posted June 17, 2013 It's big football news and I'm glad it's on this forumwhere is the first muppet to post "Bears Den ?"in fact big football news should be in here.....time for a change Quote Link to post Share on other sites More sharing options...
LeeWallaceRFC 3,920 Posted June 17, 2013 Share Posted June 17, 2013 Can we have a 900 page thread just full of laughing smillies please? :lol: :lol: Quote Link to post Share on other sites More sharing options...
caseyjones 3,009 Posted June 17, 2013 Share Posted June 17, 2013 When you're called Rangers.Talk me through that. Quote Link to post Share on other sites More sharing options...
Albertz 78 918 Posted June 17, 2013 Share Posted June 17, 2013 Can we have a 900 page thread just full of laughing smillies please? :lol: 100% agree.I know this is Bears den but it's time for payback.Pin this thread to the top of the board and let the bears kick and kick again, hope the Jambos kickback scum are looking in. Quote Link to post Share on other sites More sharing options...
Senna 735 Posted June 17, 2013 Share Posted June 17, 2013 Flats, flats.. Quote Link to post Share on other sites More sharing options...
RangersFanBase 611 Posted June 17, 2013 Share Posted June 17, 2013 :lol: :lol: :lol: :lol:P.s Karma Quote Link to post Share on other sites More sharing options...
frommetoyou 60 Posted June 17, 2013 Share Posted June 17, 2013 :D Flats flats Quote Link to post Share on other sites More sharing options...
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