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

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

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."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

I

was there, it was embarrassing - the team looked totally unbalanced from the off, the defence was woeful and when Mikel came off injured it got even worse with nobody in front of them. Up front on several occasions we had opportunities and nobody would shoot - it was a complete farse! On the back of Salah's performance I'm glad there is talk of getting shot...

Fly1ngh1gh
Cup defeat shames Mourinho

G

reat to see Tommy Rosicky getting some love. A wonderful player. Such a pity we lost so long to injury. I was so excited when we signed him, this resurgence only makes the absences seem more of a lost opportunity.

cheshire-gooner
16 Conclusions: FA Cup Fourth Round Weekend

A

pparently Chiles has blamed Twitter trolls for his exit. Proof that even the worst things can get great results at times.

cheshire-gooner
Adrian Chiles to leave ITV

Footer 365

Capital One Cup semi-final second leg team news: Chelsea v Liverpool preview

Team news for Tuesday's Capital One Cup semi-final second leg between Chelsea and Liverpool at Stamford Bridge.

Sky Bet League One: Leyton Orient part company with sporting director Mauro Milanese

League One club Leyton Orient have parted company with sporting director Mauro Milanese, according to Sky sources.

Fabian Delph: Aston Villa teammates shocked by deal

Fabian Delph has admitted his Aston Villa team-mates were shocked to hear he had signed a new deal.

Mail Box

You're Man Utd, For Crying Out Loud!

Defending a 0-0 draw with Cambridge on the grounds that other teams lost to lower-league opposition is not befitting of Man United. We're inclined to agree with Mailboxers...

A Massive Mailbox On A Weekend Of Wonder

We unsurprisingly have plenty of mails on a wonderful FA Cup weekend, including thoughts on Palace, Van Gaal, Phil Jones, Chelsea, Mourinho and Yaya Toure...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company