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Saturday, 02 May 2015, 12:15

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Hearts CVA meeting delayed

Hearts administrators BDO have announced that Friday's meeting with creditors to discuss a CVA has been cancelled.

Last Updated: 21/11/13 at 22:15 Post Comment

Hearts fans must wait to find out the future of their club

Hearts fans must wait to find out the future of their club

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After five months in administration, creditors were scheduled to meet at Tynecastle Stadium to try and thrash out a deal over the club's £28m of debt.

But the meeting has been adjourned at the request of the administrators for Ukio Bankas and UBIG, who want more time to consider the proposals.

Supporters group the Foundation of Hearts, who were last month named as the preferred bidders for the club by BDO, issued a statement insisting a deal can still be thrashed out to save the club.

The statement read: "We note the news that the creditors meeting to consider a CVA, Friday, is to be adjourned at the request of the administrators of Ukio Bankas and UBIG.

"Whilst we understand this is an anxious time for everyone involved in Hearts, we fully understand the request for the administrators to have more time to consider the proposal.

"The overall timescales do not change, and we remain calm, steadfast and focused towards our objective.

"The continued patience of the supporters is appreciated as we do all we can to get Hearts out of administration."

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