Scottish Premier League Heart of Midlothian "will not be relegated from Scotland's top flight" despite the club's parent company requesting to be declared insolvent, according to Angus Howarth of the SCOTSMAN. The SPL board met Monday at Hampden to discuss the financial status of Ukio Banko Investicine Grupe and whether it equated to an "insolvency event," as outlined in the league's rules on "group undertakings." An SPL statement said, "The board are not satisfied, on the basis of information currently avaiable to it, that an Insolvency Event (a defined by SPL rules) occurred in respect of Ubig during season 2012/13" (SCOTSMAN, 5/20). The HERALD SCOTLAND reported the SPL "had been consulting with its lawyers over whether UBIG's situation breaches its rules." Issues under discussion included whether UBIG "had officially suffered an insolvency event in the Lithuanian courts." There "is no evidence that has happened." Hearts "could still face action if the situation develops in Lithuania," but the points deduction "would take effect next season unless new information emerges about what happened last week, which appears highly unlikely" (HERALD SCOTLAND, 5/20).
