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It has been coming but could be official today if they lose against Hibs. What a game for them to lose.

 

It will get the SPFL and SFA licking their lips at money maker with the only show in town v Hearts 4 times next season.

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Butcher hasn't hit the ground running at Hibs although I thought he would.

 

He was left with absolute dross, i think turning them around was even beyond his capabilities. He is going to empty the place in the summer, i have no doubt about that. Fenlon took them backwards at least 5 years.

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Well maybe Hearts wont be in the Championship next season! That will screw the money mens plans.

 

Lawyers for Hearts' failed parent company have been told the club will face liquidation if a deal to take them out of administration is not agreed in the next few weeks.

 

Administrators BDO are waiting for UBIG's 50% shareholding to be transferred to fans and their backers.

 

However, creditors of the Lithuania-based company have yet to ratify the proposal.

 

BDO only have enough money to keep Hearts running until the end of April.

 

Businesswoman Ann Budge is offering to buy the shares from UBIG and Ukio Bankas for around £2.5m on behalf of fans' group Foundation of Hearts, with the long-term aim of handing over control at Tynecastle to supporters.

But one of UBIG's main creditors, Sualiu Bank, is unhappy with the terms.

 

The next creditors' meeting is due to take place on 7 April and, even if agreement is reached, a 20-day period has to subside before a deal can be concluded.

 

Ahead of that gathering, BDO's Bryan Jackson will travel to Vilnius to meet lawyers handling UBIG's liquidation and also hold talks with David Hunt, the UK ambassador to Lithuania, who has offered his assistance.

 

The majority of the £2.5m would go to Ukio Bankas, which has a 28.79% stake in the club and holds a charge on Tynecastle Stadium.

 

For the purpose of negotiations, Ukio's holding has been collated with UBIG's, and Ukio representatives have previously served notice to BDO, that they agree with a draft proposal to transfer the combined stake. However, their creditors are yet to sign off on any deal.

 

"If the 7 April meeting either doesn't place or isn't very positive, then I think everyone has know for some time that liquidation is a possibility," FoH chairman Ian Murray MP told BBC Scotland.

 

"The pressure is on them (UBIG's administrators) to get this deal done. A liquidation event gives them nothing. The deal from FoH has been on the table for nearly eight months.

 

"We are all worried. We want to get this over the line. It's been going on too long now and the information coming out of Lithuania is inconsistent or incomplete.

 

"We just have to wait out this process. There is nothing we can do about it."

 

Hearts staved off relegation with Sunday's 2-0 win against city rivals Hibernian but face the drop to the Championship after starting the season with a 15-point deduction.

 

The club entered administration on 19 June with debts close to £30m and will need to have resolved their situation before 9 August if they are to avoid a similar points penalty for the next campaign.

 

With all of the uncertainty at Tynecastle, BDO are not selling season tickets but, with around £100,000 a month required to keep the club going, revenue would need to be raised over the summer months.

 

UBIG, which was controlled by former Hearts owner Vladimir Romanov, had its assets frozen in April 2013 after declaring insolvency, while Ukio collapsed more than a year ago.

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You know, in the summer of 2012 I wanted to see Hearts punished like the rest of them. However, now that Romanov is out of the picture I feel that the majority of their fans are just like ours and if they get relegated and some kind of a point penalty, that would satisy me.

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You know, in the summer of 2012 I wanted to see Hearts punished like the rest of them. However, now that Romanov is out of the picture I feel that the majority of their fans are just like ours and if they get relegated and some kind of a point penalty, that would satisy me.

 

fuck em. Romanov was more of a maddie than a baddie but their fans were among the loudest when we had our liquidation. Me? I'm looking forward to theirs as if it was Christmas. They should already be in the championship and would be if they and the SFA weren't as corrupt as each other. What they did was more disgraceful than anything we ever did, but they aren't us so they got away with it.

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