Battle under way to be named administrators of Heart of Midlothian
Club waiting for direction from Lithuanian creditors before administration can proceed.
A battle is under way to be named administrator of Heart of Midlothian Football Club with two firms in the frame.
The Tynecastle side signalled their intent to apply to the Court of Session on Monday.
STV understands the club’s creditors in Lithuania want BDO to take on the role while those in charge of the club in Edinburgh have approached KPMG.
Explaining their objection to the potential appointment of KPMG, Gintaras Adomonis of Lithuanian administrators UAB Valnetas said: "We thoroughly analysed (the) financial and legal framework of Hearts' case and, taking into account failure by Hearts to cover the debt to HMRC, it appeared that administration of the club is the only option available at the moment.
"We still believe that we should stay with our ultimate goal to defend the interest of the creditors of Ukio Bankas and sell the club to the appropriate investor as soon as possible.
"Thus, we want the administrator to be not only experienced but dedicated to football as well."
Papers are yet to be lodged with the court, meaning the case can not yet be assigned to a judge.
STV has learned that the papers will be signed off by a Hearts director, but the next steps are in the hands of Ukio Bankas and UBIG, Hearts' major creditors with a combined debt of £25m due from the club.
A source close to the administration process told STV on Tuesday afternoon that a hearing to grant administration was "unlikely" to take place before Wednesday.
Hearts failed to pay their players’ wages on time last week, leading to a registration embargo from the Scottish Premier League.
The Edinburgh club also face a winding up petition from HM Revenue and Customs after failing to pay a £100,000 tax bill on time.
Should the application be granted, the club will start the new Scottish Professional Football League season on minus 15 points.
An MP leading a fans-backed group bidding to buy the Gorgie outfit called the news “the darkest day in the club’s history.”