Breaking News: Ukio Bank in Administration, hearts to follow?

[GMac 1,405]

Other than banking facilities, Hearts have no ties with Ukio Bankas itself.

Banking facilities that include a £6.9million loan thats due at end of season. Romanov has also put up Tynecastle as collateral to keep UKIOS afloat.

[TheBluenose1972 1,405]

Wont Hearts now be debt free if the bank folds?

[GMac 1,405]

Wont Hearts now be debt free if the bank folds?

Was anyones mortgage cancelled when Northern Rock went bust? The debt will be owed to the next owners or whoever buys the loans from UKIOS

[caseyjones 3,009]

Banking facilities that include a £6.9million loan thats due at end of season. Romanov has also put up Tynecastle as collateral to keep UKIOS afloat.

So, as stated, the bank can go bust without it directly affecting the club.

[dougied123 222]

This will be a nightmare for them, wonder what division they will end up in?

[nelsonRFC82 305]

So, as stated, the bank can go bust without it directly affecting the club.

Is the issue really the bank going bust or more to do with investigating the actions of the bank. I think this comment from the Lithuanian central bank is very telling:

"Particularly the loans issued to companies related to the main shareholder make up the largest part of the problem loan portfolio."

[bearsinbath 95]

Always thought us and Hearts had a decent connection.

Always a bit tenuous due to the "proddie" connection but after the response from a lot of them around this time last year i would doubt they will have much sympathy from the Bears.

[Ricky_ 893]

So, as stated, the bank can go bust without it directly affecting the club.

Or they can demand the money back (Lloyds anyone?)

[StrongbowLoyal. 36]

FUCK HEARTS

[Carsons Dog 9,878]

This will be a nightmare for them, wonder what division they will end up in?

Everyone might move up a place to accommodate them in the bottom league

[GMac 1,405]

This happened in Lithuania recently with another bank and it was liquidated quickly along with its subsiduaries. Almost identical circumstances. All hinges on whether those in charge call in their debt with Hearts. A bit like the position we were in with LLoyds.