Romanov assets frozen by court

BY foxsports • April 12, 2013

The future ownership of Hearts has been thrown into doubt after a court in Lithuania froze the assets of the SPL club's owner Vladimir Romanov.

At the hearing in Kaunus, assets controlled by Russian-born businessman Romanov, and his UBIG investment vehicle which controls Hearts, were seized.

A number of companies are suing Romanov, and his sister Olga Goncaruk, in an effort to recover 'large debts' jointly undertaken by the pair.

In a statement, court spokeswoman Gintare Putnikiene said: "Any sale or transfer of UBIG's shares in Hearts or its other property is forbidden."

The move comes two months after Lithuania's central bank suspended operations at Ukio Bankas, majority-owned by Romanov, citing irregularities.

Foundation of Hearts, a supporters group based in Edinburgh, earlier this month claimed it was 'in negotiations with other fan associations to buy a majority of Hearts shares from UBIG'.

Hearts refused to make any comments on the latest developments concerning Romanov, who bought the struggling club in 2005.

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