North of the Border
Hearts head towards insolvency
May 22, 2013
By Neil White
A series of unfortunate insolvency events
What a week for Hearts! After the collapse of the bank to whom they owe £15m, the investment group that hold the marker for the remaining £10m of their debt (and own 79% of the club), UBIG, asked to be declared insolvent. The SPL held a meeting to work out if this meant Hearts were insolvent and decided that this was ...