Sutton Denies Censoring Fan Forum UK Sport Rejects Seven Funding Appeals Royal St. George's To Host 2020 Open Mercedes F1 Re-Signs Wolff, Lauda Sauber F1 Builds New Car For '17 Grupo Multimedios Acquires 50% Stake Neymar To Stand Trial In Spain Turnberry Remains On British Open Rota Franchise Notes ECB To Meet With Players' Union
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
SBD Global/May 15, 2013/Franchises
Bankruptcy Appeal Launched In Fight Over Hearts' Owner Vladimir Romanov's Assets
Published May 15, 2013
Scottish Premier League Heart of Midlothian's future "under stricken majority shareholder Vladimir Romanov took a fresh twist when it emerged an appeal has been launched against the bankruptcy proceedings started on the Lithuanian's bank, Ukio Bankas," according to Iain Collin of the SCOTSMAN. The court decision to proceed with a bankruptcy order against the bank "sparked speculation over the future of Hearts." Fears that the Tynecastle club, which survived a winding-up order in November over a £450,000 ($684,900) debt to U.K. tax authority HMRC, "could be plunged into administration have been dismissed by officials and financial experts." However, with Hearts owing Ukio Bankas around £15M ($22M), "it remains to be seen just how the bank's problems will impact on the SPL outfit" (SCOTSMAN 5/14). The DAILY RECORD wrote a fan group led by MP Ian Murray is trying to engineer a takeover of the Jambos, "but it's understood any buy-out is not permitted after Romanov's assets were frozen" (DAILY RECORD, 5/14).