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Hearts avoid SPL relegation

Hearts have avoided instant relegation after the Scottish Premier League board decided the financial problems of their majority shareholder had not breached its rules before the end of the season.

UBIG was apparently declared insolvent on a Lithuanian government website on Thursday, prompting fears at Hearts that they could be hit with an 18-point penalty which would immediately send them down.

But following talks at Hampden today, a league statement read: "The SPL board met today to consider reports from Lithuania in respect of Ukio Banko Investicine Grupe (UBIG).

"The board are not satisfied, on the basis of information currently available to it, that an insolvency event (as defined by SPL rules) occurred in respect of UBIG during season 2012-2013."

PA Media