Hearts

SO UBIG say they are insolvent, the very definition of an insolvency event.

They hold £10m of Hearts debt, and associated company holds another £15m against Tynecastle.

And the SPL rules say insolvency event of club or parent or associated company.

SO by definition, there HAS been an insolvency event in a parent company of Hearts.

Yet the SPL change the rules AGAIN.

Morally and financially bankrupt.

Glad that's over. We can go back to being a normal club now.

Coops

as I said Admin is a factual legal matter.

They have not reached that point.

Just because its been said and might even be true does not mean the legal process has been concluded.

You have to have a line in the sand.

Hearts have not crossed this in UK law as yet.

Duke- it is not administration for the club that is the question - the rules CLEARLY state an "insolvency event" for the group within which the club is held.

By definition, declaring yourself insolvent is an insolvency event.

SPL sh itting itself as it has no sponsor, is insolvent itself, and losing Hearts would be the final nail.

The sooner the SPL dies the better.

well call it an insolvency event

still nothing in UK law to say Hearts have suffered such.

Duke, FFS, it is not Hearts, but the parent group. They have stated they are insolvent. SPL rules, changed LAST summer, and agreed to by all, including Hearts, stated parent group not just company which runs club.

Parent group insolvent = points deduction - plain & simple.

Yet the SPL don't act on their own rules.

The sooner the SPL dies the better.


your not a bit bitter are you?

Comment Deleted by Site Moderator

'The Parent Group' ?????????

As far as I can see they are the major share holder.

Our media are calling them the 'parent group'

The problem for Hearts would come if those who are owed by UB call the debts in....

Last season Rangers and now Hearts...doesn't paint a healthy picture for Scottish football.

Couldn't blame Celtic, with their huge fan base, if they look to play elsewhere!