Romanov to stand trial

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Originally Posted by Hibs4185

Land and property is one of the easiest things to sell in Edinburgh. Cala offered £20 million for tynecastle a few years before administration. It is not too far fetched too think the administrators or powers that be could be easily have achieved £10-£15 million to repay their creditors quite easily.

I want to know why a paltry £3 million was accepted from Budge and I think their would be a decent story in the reasons why.

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Even at £15m, only the secured creditor would have been paid. The remainder would get nothing.

Remember, too, that it wasn't Hearts' administrator's call to accept the Budge offer, which of course was the only credible one. That was down to the administrators of UKIO Bankas. Their choice was basically, "take £3m now, or perhaps a larger sum at some indefinable time in the future".

Perhaps in the Borders or any other part of Scotland, but in Edinburgh you could safely assume that without planning a sale could be been achieved relatively quickly.

If Cala had offered £20 million-minus demolition costs, a few years back, it is safe to assume even £10 million could be been achieved in a short space of time.

I genuinely think salmond’s intervention helped.

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Originally Posted by Hibs4185

Perhaps in the Borders or any other part of Scotland, but in Edinburgh you could safely assume that without planning a sale could be been achieved relatively quickly.

If Cala had offered £20 million-minus demolition costs, a few years back, it is safe to assume even £10 million could be been achieved in a short space of time.

I genuinely think salmond’s intervention helped.

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You may be right on that last point.

However, in your scenario, the club would have been liquidated, and no ordinary creditors would have been paid. The only winners would have been the bank's creditors.

Just think on that.... no money-spinning replay :greengrin

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Originally Posted by CropleyWasGod

You may be right on that last point.

However, in your scenario, the club would have been liquidated, and no ordinary creditors would have been paid. The only winners would have been the bank's creditors.

Just think on that.... no money-spinning replay :greengrin

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If budge’s offer was £3 million and that helped ordinary creditors then I would imagine that a condition of sale could’ve been included where as part of the sale price, £7 million could’ve been paid to the secured creditors and £3 million to unsecured.

Either way both creditors would’ve achieved a better return.

If tynecastle would’ve been in lochgelly-no offence to people from lochgelly, I could understand the administrators of UBIG accepting a paltry offer but not in Edinburgh. I accept Gorgie is no Leith in terms of facilities and attractiveness but it would still generate a healthy return for creditors upon a sale .

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Originally Posted by Hibs4185

If budge’s offer was £3 million and that helped ordinary creditors then I would imagine that a condition of sale could’ve been included where as part of the sale price, £7 million could’ve been paid to the secured creditors and £3 million to unsecured.

Either way both creditors would’ve achieved a better return.

If tynecastle would’ve been in lochgelly-no offence to people from lochgelly, I could understand the administrators of UBIG accepting a paltry offer but not in Edinburgh. I accept Gorgie is no Leith in terms of facilities and attractiveness but it would still generate a healthy return for creditors upon a sale .

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The ordinary creditors were getting nothing at 3m, 10m or even 15m. That first 15m was always going to be for the secured creditors, no matter what an offer might be conditional on. The administrator's hands were tied on that by the law.

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Wasn’t there some pish being spun about the PBS land being unsuitable for housing due to proximity to chemicals. Some kind of smoke & mirrors anyway my memory ain’t the best.

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Originally Posted by Gloucester Hibs

Wasn’t there some pish being spun about the PBS land being unsuitable for housing due to proximity to chemicals. Some kind of smoke & mirrors anyway my memory ain’t the best.

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Yep and the stinking brewery as well 😁

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Originally Posted by HIBERNIAN-0762

Yep and the stinking brewery as well [emoji16]

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That was the home dressing room.

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Originally Posted by greenpaper55

Did Alexi Salmondski allegedly have a wee word in the ear of the Lithuanian leader in the last days before Hearts were saved ?

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Allegedly he did, took a very keen role in the months leading up to the “administration event” and it would be very interesting to know how he managed to convince the Liths to accept such a paltry sum for tiny castle and the team/name when Robinson was keen to sell for circa £30 million (pre Vlad) and move to Murrayfield!!??

Will all be revealed at some stage in the future, who knows but AS was certainly involved in the “convincing” creditors to accept and move on (yes the Administrator pulled a rabbit out the hat but did AS as FM put it there or bed it in?). Rangers were liquidated and hertz financial position was far worse, which led to them entering the Scottish leagues at the bottom league (for professional teams).

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Originally Posted by CropleyWasGod

The ordinary creditors were getting nothing at 3m, 10m or even 15m. That first 15m was always going to be for the secured creditors, no matter what an offer might be conditional on. The administrator's hands were tied on that by the law.

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So the unsecured creditors got nothing?

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Originally Posted by hibeerealist

Allegedly he did, took a very keen role in the months leading up to the “administration event” and it would be very interesting to know how he managed to convince the Liths to accept such a paltry sum for tiny castle and the team/name when Robinson was keen to sell for circa £30 million (pre Vlad) and move to Murrayfield!!??

Will all be revealed at some stage in the future, who knows but AS was certainly involved in the “convincing” creditors to accept and move on (yes the Administrator pulled a rabbit out the hat but did AS as FM put it there or bed it in?). Rangers were liquidated and hertz financial position was far worse, which led to them entering the Scottish leagues at the bottom league (for professional teams).

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Just to put some of the facts around this.

The administrators of UKIO initially (albeit informally) rejected the proposed offer in the CVA. Again, it was the only credible offer.

They changed their minds after AS' visit. We don't know whether the two are connected.

However, had the offer not been accepted, there would have been no more Hearts. The liquidators of Hearts would have sold the land for whatever they could get.

From that, if AS did have any influence, it wasn't about the size of the offer, it was about the existence of the club.



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Originally Posted by Hibs4185

So the unsecured creditors got nothing?

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Nothing.

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Given Hearts had to ***** £100m for two Scottish cups, who gave us the £50m for our Scottish cup?!

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Originally Posted by 660

Given Hearts had to ***** £100m for two Scottish cups, who gave us the £50m for our Scottish cup?!

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No creditors were harmed in the winning of our Scottish Cup:greengrin

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Originally Posted by Bostonhibby

No creditors were harmed in the winning of our Scottish Cup:greengrin

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Love it [emoji16]

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