Football: Scottish Premier League club Hearts threatened with liquidation
LONDON (AFP) - Hearts have been threatened with liquidation as the takeover battle for the troubled Scottish Premier League football club drags on, less than a week before the start of the new season.
The administrator in charge of Ukio Bankas on Monday told Hearts administrators that three bids lodged for the Edinburgh team were unacceptable and warned that the club would be liquidated unless the offers are improved.
The Lithuanian bank is owed £15 million (S$26 million) by Hearts but its administrator Gintaras Adomonis issued the grave threat to BDO, the trouble-shooters now running the club, after they were also placed into administration.
"I can repeat that we are doing everything we can to save the club functioning. However, I am obliged to protect solely the interests of Ukio Bankas and its creditors," a statement from Adomonis said.