You seem to as on top of all things Hearts cash problems as anyone is on here Mikey. I know and understand very little about the situation but reading between the lines would some sort of administration/liquidation announcement coming at some stage in June be no real surprise?
Sounds like they are as good as in admin now but are flapping around just now with various rule books and laws trying to find a date for going into administration or whatever that would mean that in terms of this season and their SPL status allisbarry.
In terms of the SPL and the clubs requesting an investigation, rats are clearly being smelled but knowing that jammy shower they'll be able to prove that while whatever it is they have done to prolong the inevitable is a bit immoral and deceitful, it is not against the rules and they will be actively working to ensure that they are getting as close to breaking the rules to suit them without actually technically breaking the rules.
The SPL seem gutless when it comes to acting on or investigating anything to do with Hearts. Maybe they just don't know where to start coz the whole thing is so complicated. Or maybe they don't want what they would feel would be another embarrassing summer if there were question marks over another of the league's bigger clubs and any effect the loss of an Edinburgh derby or Hearts v Cletic matches would have on the TV deal. Like it or not, in Scottish terms Hearts fans will make up a decent amount of the TV subscriptions and viewing figures for SPL football.
Got a feeling they'll start next season with a points deduction and a transfer embargo hence the reason they are having players on trial and being linked to signings while they can still actually sign players.