der Berliner 3,247 Posted June 17, 2013 Share Posted June 17, 2013 SOmeone on FF just noted: The biggest problems for Hearts is two fold from what I can see. 1) - The parent company are in the process of being liquidated, the liquidators will want as much money as possible from any of Hearts' assets. Hearts' biggest asset is the stadium (Which is not listed) and the land it sits on. Why would the UBIG liquidator take a penny in the pound CVA when there's a potential goldmine sitting there in the land itself? 2) - Hearts have zero cash. They haven't even been paying players or staff - there is no income stream for them to continue to operate from today until a date where a CVA can be presented (Whether that be tomorrow, next week, next month or November - they don't have any money). There will be no successful CVA, it's liquidation. 0 Quote Link to post Share on other sites More sharing options...
UCF2008 0 Posted June 17, 2013 Share Posted June 17, 2013 Why would the UBIG liquidator take a penny in the pound CVA when there's a potential goldmine sitting there in the land itself? I think I read a quote from them the other day which stated that for the time being Hearts were more valuable to the UBIG creditors as a going concern. From that I'd guess the newco route would be their least preferred option. Selling the stadium and land would give them the biggest return, but time isn't on their side. It'll be interesting to see how KPMG approach this. 0 Quote Link to post Share on other sites More sharing options...
foggy dewhurst 0 Posted June 17, 2013 Share Posted June 17, 2013 i dont think hearts will be in any leagues next year or ever again they are finished . 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,247 Posted June 17, 2013 Share Posted June 17, 2013 Two years ago, I would probably have felt differently ... and even now I can't say I hate them (how could you hate a little boy in a Jambo kit?), but if you see something like this ... One thread, 976 pages, 3,080,696 viewers and 48,794 replies just about all kicking the Rangers when we were down. (<- click for seeing this on the Jambo board) ... your sympathy lessens somewhat. 0 Quote Link to post Share on other sites More sharing options...
54andcounting 0 Posted June 17, 2013 Share Posted June 17, 2013 I know it's not a popular opinion on here, but it'll be a sad day if Scottish football loses a club such as Hearts. Feel for the genuine sensible fans who didn't want to see us disappear. Truly hope the Jambos get through this like we did. 0 Quote Link to post Share on other sites More sharing options...
gisabeer 409 Posted June 17, 2013 Share Posted June 17, 2013 i hope to hell they fold and are never seen again 0 Quote Link to post Share on other sites More sharing options...
SteveC 150 Posted June 17, 2013 Share Posted June 17, 2013 It was claimed on Follow Follow a month or so ago that the land was not much use. Too close to already existing supermarkets and unfit for homes due to some environmental reason. Have no way of verifying this - just passing it on and noting the poster seemed sure of his claims. 0 Quote Link to post Share on other sites More sharing options...
Guest Dummiesoot Posted June 17, 2013 Share Posted June 17, 2013 I honestly want to rise above petty vindictiveness but have put up with absolute shit from jambos I have to say I hope they rot in hell. 0 Quote Link to post Share on other sites More sharing options...
Darthter 542 Posted June 17, 2013 Share Posted June 17, 2013 The biggest problem for Hearts is CASH.... Right now they don't have any, and there's no more coming in.... For a CVA to be successful, you need some one to put up the cash to pay the creditors..... For a newco, you need someone to buy the assets.... There has been talks for a while about a group looking to take over Hearts, but I get the impression that they aren't exactly rolling in excess cash. I actually think there is quite a strong possibility that their Admin application may be rejected. In order for their application to be accepted, I'm sure the entity has to show signs of being a valid concern & to be able to finance the Admin period....Hearts can't even pay a £100k bill in full, have more cash due to HMRC, and a load of unpaid wages......is there even the remotest possibility that a judge could see the on financial future in a positive light??? I do hope that they can survive, since it would be a blow to the Scottish game. However I find it hard to offer any sympathy towards them. As others have said, Hearts were very vocal about our problems - those in glass houses etc.... 0 Quote Link to post Share on other sites More sharing options...
The Real PapaBear 0 Posted June 17, 2013 Share Posted June 17, 2013 "Schadenfreude", the pleasure in others' misfortune would be too much; "Schadenquietsatisfaction", might be closer to what I'm feeling about them. 0 Quote Link to post Share on other sites More sharing options...
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