Hearts' administrators have postponed a crucial meeting for seven days to allow their Lithuanian-based major shareholders and creditors time to consider a Company Voluntary Arrangement (CVA) offer.
Creditors had been due to hear the proposal on Friday from the preferred bidders, the fans' group Foundation of Hearts, which would provide £2.5million towards debts of about £30million.
The fate of the CVA lies in the hands of Ukio Bankas and UBIG, which are owed the vast majority of money and together own about 80 per cent of the club's shares.
Joint administrator Bryan Jackson said: "The meeting of creditors planned for November 22 has been adjourned at the request of the administrators of Ukio and UBIG who require more time to consider the CVA proposal.
"As UBIG's appointment was very recent and the administrator of Ukio is liasing with them over the proposal, it was decided that it would be sensible to allow them a further period to look at the details of the CVA document."
"The meeting of creditors will now be held at Tynecastle at 10am on November 29, followed by a meeting of shareholders two hours later."
Meanwhile, Hearts manager Gary Locke would be open to a change of venue for their Scottish League Cup semi-final against Inverness on February 2.
Controversy surrounded the Scottish Professional Football League's decision to make the Caley Thistle fans travel to Easter Road for a 12.15pm kick-off on a Sunday when there are problems with public transport down to Edinburgh.
Inverness chairman Kenny Cameron said it was "unfair to ask our supporters to go down the A9 in darkness in February" and Inverness fans have started a petition to get the kick-off time changed.
Asked if he was open to moving the game to Tannadice or another suitable ground, Locke said: "It wouldn't bother me, the main thing is that Hearts are in the semi-final.
"I will accept whatever happens but at the moment we are delighted it is at Easter Road because it is not that far away for our supporters.
"We will have a sizeable crowd at that game, the last time we were there (for a semi), we filled three stands.
"The fact is Inverness will probably take more than they would normally have but I certainly don't think it will be as many as we will have. If it was at Tannadice, it would be the same.
"I can sympathise with them, because one of the main reasons there is a problem is that they can't get transport down to the game for the kick-off, so obviously I feel for them.
"It is a problem Inverness have got, I hope they can get a resolution to it."
Locke insists the advantage his side might have by playing in the city would be minimal.
He said: "Although the tie is in Edinburgh, it is a neutral venue, it is the same for both sides.
"Obviously it is not far away in terms of travelling so that might give us a slight advantage but Inverness are used to travelling everywhere, so I don't think it is a massive thing but I certainly feel for their supporters."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article