Hearts escape SPL sanction

The Scottish Premier League has announced that Hearts will not be subjected to a points deduction after concluding insolvency has not occurred at the club's majority shareholder UBIG.

Last Updated: 20/05/13 at 18:32 Post Comment

The Edinburgh club were facing a possible 18-point deduction, and instant relegation, if it been decided that SPL rules were breached by UBIG's declaration of insolvency last week.

UBIG, who owns 79% of shares in Hearts, was last week listed on a Lithuanian government website of insolvent firms after reportedly declaring itself unable to meet its liabilities.

SPL has been consulting with its lawyers over its rules and has decided, following a board meeting, that UBIG's action is not in breach of them.

The SPL issued a statement reading: "The SPL Board met today to consider reports from Lithuania in respect of Ukio Banko Investicine Grupe.

"The Board are not satisfied, on the basis of information currently available to it, that an insolvency event (as defined by SPL Rules) occurred in respect of UBIG during Season 2012-2013."

Hearts could yet face action if the situation develops in Lithuania - but the

points deduction would likely take effect next season.

SPL chairman Ralph Topping added: "We acted on the information that was available to us.

"That's not to say that other information will not come forward in the next few days or weeks ahead but we can only deal with what we have got at the moment and, on that basis, there is no insolvency event under our rules.

"It's good news at the moment. With everything in Scottish football, there is temporary respite."

Related News

Most Commented

Readers' Comments

W

riting a minute by minute account on Berbatov would be like chronicling the days of the guy punished for sloth in the movie Se7en. Day 4 - lay in bed, did nothing - 15th minute, stood there did nothing .

lustral
Taking A Close Look At Mario...

W

hen players in their 30s leave Real Madrid, it's usually to Bolton Wanderers. I miss those days.

sailingmagpie
Top Ten CL Players Whetting Our Appetite

W

ow Pete, you would make an excellent stalker!

fouloleron
Taking A Close Look At Mario...

Footer 365

Felix Magath departs Fulham with Kit Symons taking charge on temporary basis

Felix Magath has left his role as Fulham manager after the Championship club's dismal start to the season.

Stoke boss Mark Hughes defends his decisions at QPR ahead of Loftus Road return

Stoke manager Mark Hughes has defended his reign at QPR ahead of his return to Loftus Road on Saturday.

Southampton midfielder Sadio Mane has been granted a work permit

Ronald Koeman has confirmed that Sadio Mane has been successful in gaining a work permit.

Mail Box

Why Doesn't Rodgers Play Borini?

One Liverpool supporter thinks this could be Fabio Borini's year, whilst we also have thoughts on the Red Bulls, Welbeck vs Gervinho and Paul Lambert's new deal...

Could Arsenal Benefit From Top Four Exit?

That's one idea in the morning mailbox as the Arsene Wenger debate rumbles on. Plus, comparing Welbeck to Gervinho and some advice for Greg Dyke and the FA...

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