Hearts could be relegated if the Scottish Premier League rule that the club has breached league rules today.
UBIG, Vladimir Romanov's holding company that owns 79% of the shares in the club, was declared insolvent in Lithuania last Thursday.
This could result in a 17-point penalty, which, if applied to the 2012-13 campaign, would see Hearts finish bottom of the SPL table.
League officials, whose lawyers have been examining rules regarding individual insolvency events, will meet at Hampden Park this afternoon to decide Hearts' fate.
