Quote Originally Posted by SingHibs View Post
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The Lithuanian state were the effective creditor. If Hearts were wound up only real asset was the ground. The ground would be pretty worthless without building permission. Edinburgh establishment had closed ranks to make that building permission difficult to obtain. The Lithuanians would rather take 4 million than gamble on getting the ground and not being able to sell it because of a lack of building permission.
you sure it was 4M ? could be right, I always thought it was more like 1.5 - 2M.

Shame they never had the balls to fight the process and take the risk of the asset (ground) instead.