Hearts face an anxious wait over apparent collapse of majority shareholder
Hearts' league status is in doubt after the apparent financial collapse of their majority shareholder, UBIG.
Last Updated: 17/05/13 6:17pm
The Lithuanian firm was listed on a government website of insolvent firms on Thursday, after reportedly declaring itself 'unable to meet its liabilities'.
And although Hearts are no longer reliant on the company for external funding, they do owe it £10m, and under SPL rules the insolvency of club owners can lead to a points deduction.
The SPL declined to comment on the matter, but are understood to be consulting with lawyers and are expected to announce a decision on Monday.
And if deemed to breach insolvency rules before Sunday's final game of the season, Hearts would be deducted a third of last season's points - 18 - which would see them relegated to the First Division.
A club statement said: "Heart of Midlothian Football Club can today acknowledge it is aware of a report circulating in Lithuania relating to its parent company UAB Ukio Banko Investicine Grupe (UBIG).
"The club is seeking clarification regarding UBIG's current situation and as such, it would be inappropriate to comment further at this stage."
The club survived a winding-up order over a £450,000 tax bill at the end of last year - with the help of more than £1m raised by fans - and negotiated a repayment plan for a separate £1.6m tax bill.