SPL board to discuss Hearts crisis on Monday

The financial crisis engulfing Hearts will be on the agenda when the Scottish Premier League board meets on Monday.

Hearts' Lithuanian parent company UBIG has asked to be declared insolvent but no court hearing has yet taken place.

SPL rules state that the season finishes on the completion of all fixtures, which is Sunday afternoon.

But if the SPL board decides there has been a rule breach prior to the season's end, any subsequent action will apply to this campaign.

That could mean that Hearts are deducted a third of the 52 points they earned in season 2011/12.

Rounded up, the loss of 18 points would mean they finish bottom of the table, behind Dundee.

The SPL are currently gathering all relevant information regarding UBIG's bid to be declared insolvent.

And the league is taking legal advice on its rules surrounding insolvency matters.

UBIG and their sister company Ukio Bankas, to whom Hearts owe £15m and which has collapsed with debts of £380m, own 79% of Hearts' shares.

Hearts play their final league game of the current campaign at Aberdeen on Saturday.

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