Ibrox Stadium

Next Game

Rangers v Hearts

Sunday, 10 August 2014, 13:30

Scots Champ

Tynecastle Stadium

Last Game

Hearts 3 - 1 Annan

Saturday, 26 July 2014, 15:00

Petrofac Training Cup First Round

Further delay for Hearts sale

The takeover of Heart of Midlothian has been delayed after a court hearing to appoint administrators to former parent company UBIG was postponed.

Last Updated: 24/10/13 at 17:50 Post Comment

Hearts: Further delay to sale of club after court postponement in Lithuania

Hearts: Further delay to sale of club after court postponement in Lithuania

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

Kaunas District Court was expected to appoint bankruptcy administrators to the insolvent company on Thursday but that has been put back until next week at the earliest.

Hearts administrators BDO have stressed that they do not believe the latest delay will have a lasting impact on the sale of the club.

A spokesman said: "It's disappointing that the hearing has been delayed but it's only a short delay.

"It doesn't change anything in terms of what we are going to do. We will just carry on regardless.

"When the hearing happens, it happens. It's not going to stop us from starting the process of taking the club out of administration."

UBIG, which holds just under 50% of the shares in Hearts, had its assets frozen in April after declaring insolvency.

The sale of Hearts, which entered administration in June, cannot be completed until the situation with UBIG has been resolved.

Earlier this week, BDO initiated the process of putting together a company voluntary arrangement offer to creditors.

Fans group the Foundation of Hearts remain the preferred bidder for the 139-year-old club.

Free £50 bet

Daily Offers and Promotions, sign up for a free £50 matched bet

Related News

Most Commented

Readers' Comments

D

oes the absence of Winston Bogarde mean he's finally left Chelsea?

nellyknows
The Pre-Season 'Is He Still There?' XI

P

resumably, Diaby is in this team but receiving treatment

lee
The Pre-Season 'Is He Still There?' XI

A

deadwood 11 and not an arsenal player listed. Heady days.

EssexGooner
The Pre-Season 'Is He Still There?' XI

Footer 365

Transfer News: Manchester City in talks with Frank Lampard over loan move

Frank Lampard's representatives are in talks with Manchester City over a loan move, according to Sky sources.

Transfer news: Arsene Wenger admits Thomas Vermaelen could leave Arsenal this summer

Arsenal manager Arsene Wenger plans to make more signings this summer, but admits captain Thomas Vermaelen could leave.

Guus Hiddink vows to build on success of Holland predecessor Louis van Gaal

New Netherlands coach Guus Hiddink has vowed to build on the success of predecessor Louis van Gaal.

Mail Box

Are Villa Fans The Lowest Of Them All?

With the possible exception of Blackpool, are any club's fans feeling any more depressed about the start of the season than Villa? We also have a bizarre suggestion and...

How Can Tim Sherwood Be Out Of Work?

Don't peple know his PPG was THE BEST EVER FOR A SPURS MANAGER? We also have mails on Luis Suarez, the new fashion for 3-5-2 and more...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property