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Hearts: BDO hope for creditors meeting next week

Picture: Lisa Ferguson

Picture: Lisa Ferguson

  • by ALAN TEMPLE
 

Bryan Jackson, of Hearts’ administrators BDO, has returned from Lithuania without confirmation of when Ukio Bankas’ pivotal creditors meeting will take place.

Ann Budge’s BIDCO 1874 company have tabled a £2.5 million offer for Ukio’s 29.9 per cent shareholding in the club and their security over Tynecastle Stadium, but it must be ratified by creditors of the fallen bank.

If the transfer of shares is not confirmed, Hearts are effectively guaranteed to face liquidation. However, a date for the meeting which will decide the fate of the capital club has not yet been pencilled in.

BDO remain hopeful the meeting will take place next week. To that end, Jackson will return to Vilnius next Monday.

The earliest BDO are expected to learn the pivotal date is today, but that entirely depends on the progression of high-level talks continuing in Lithuania.

Foundation of Hearts (FoH) chairman Ian Murray MP insists the uncertainty regarding when the Ukio meeting will take place is not a concern at the moment.

Fans’ group FoH aim to ultimately gain control of the club from BIDCO, and Murray said: “The desire was that the meeting would take place next week and, as it stands, we are hopeful that will still be the case.”

Meanwhile, BDO are hopeful they will be able to make a personal address to the Ukio creditors when the meeting does take place.

 

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