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Ukio deal frees football club

  • 2014-05-01
  • From wire report
VILNIUS - The creditors’ committee at Ukio Bank has approved the proposal to waive their rights to the property of the Scottish football club Hearts, including pledging shares of the company which owns the club, for the amount agreed, reports ELTA.The move will enable reaching an amicable settlement between the shareholders of the club and the creditors. It will also allow for the sale of Heart of Midlothian Plc, the company which owns the Hearts football club, to the investor Bidco. The creditors of Ukio Bank also authorized writing off part of a loan issued to Heart of Midloth...
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