Often Partisan

BIH: Carson To Go To Court To Try To Remove Receivers

Birmingham International Holdings have confirmed tonight in an announcement to the Stock Exchange that Carson Yeung has issued the Receivers with a summons as he looks to dismiss them.

The announcement confirmed that following the removal of the three new directors as they announced on Friday, Carson’s lawyers have issued a summons on the Receivers to appear in court on April 1. Carson is seeking to have the resolution passed to instruct lawyers to consider the appointment of Receivers as void; the receivership order discharged or set aside; or alternatively the Receivership order be varied so that they cannot remove Carson’s choice of directors and that their powers into investigating the company are restricted with the directors appointed by Carson being re-given control.

As you can imagine, the Receivers are now speaking to their lawyers and will keep shareholders and the stock exchange informed in due course.

I think this demonstrates once and for all what the crux of the issue is – it is not about the sale of the club. The fact that the lawyers are seeking to stop the investigation into the company lends me to believe that there is something that Carson (or possibly his legal advisors Peter Pannu and Isaac Sadiq) do not want the Receivers to find. What that is I have no idea but I’m guessing it’s not who borrowed the stapler or who drank the last of the coffee in the pot.

I said before that I thought Carson wasn’t done and I don’t think this is the end of it either – as much as I think the Receivers will have anticipated this move I also think that this is like a chess game with moves and counter-moves; and that while that goes on the sale of the club will be held further and further in abeyance.

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67 Responses to “BIH: Carson To Go To Court To Try To Remove Receivers”

  • Daz says:

    On April fools day! You couldn’t make it up could you!!!

  • Bearwood Blue says:

    As ever, the machinations of BIHL are better than Coronation Street. Pick up the Pringles and tune in for the next exciting episode!

  • Lee says:

    that gives the receivers 2 weeks to find something, if they haven’t already, and that’s of course if he gets his way, hopefully they’ll find enough to put noodle man in a cell with him

  • Chalky says:

    noob question, if the receivers was brought in on a request basis, why does Carson need court intervention to remove them?

    • almajir says:

      Receivers – easy to bring in, b*stard to get rid of. They’re court appointed and so need to removed in the same way…

      • Raymondo says:

        It looks like what I’ve said over and over again. He’s frightened of what a thorough investigation will find. I’m no accountatnt but I can smell a rat. I think that what they may find is definite evidence to prove he was money laundering which would immediately negate his appeal against it.

  • john says:

    surely if the court appointed them there would have to be compelling reasons for them to remove them,whats your legal book mates feelings dan? sounds like this is a fight to the finish,

  • Andy P says:

    I wonder if this has anything to do with the missing £2.5 mill that BIHL reported,there has to be a trail that leads somewhere . Who is investigating the receivers ,the Feds , HKSE or all?

    • almajir says:

      The money that is missing has been reported to the police so they are investigating. No doubt EY are looking into the accountancy practices etc also.

    • Agent McLeish says:

      I think thw £2.5m may be the tip of the iceberg.

  • IHateVillaMoreThanYou1875 says:

    This will all be sorted out by the start of next season – mark my words.

    Ernst and Young know what they’re doing, hence why they have such a solid reputation. I can pretty much guarantee that they anticipated Carson’s recent move and that they have already done enough to make sure it doesn’t “stain the carpet”.

    For obvious reasons the courts have to take what Carson does serious and to treat it with the utmost professionalism, but it wont stand, not in a million years. After all, he’s a crook.

    I really do believe that BIHL’s ownership of Birmingham City Football Club is nearing the end. Give it until the end of May…

    Keep right on!

    ( Thanks for the update, Daniel. You’re doing a spectacular job. )

  • Hillfield Blues says:

    It just feels like there is a desperate need from CY to try and push EY out before they find something that’s damning to him.
    Dan,why was it that PP was removed/dismissed from the BIH board by the receivers when others were suspended? Did they find something incriminating against him?

  • AussieBlue says:

    The key reasons why this Summons will fail and fail badly are:
    1) E&Y have stated again that they believe the appointment of the ‘purported directors’ could cause our club to fail the fit&proper directors test and even be removed from the football league – thus annihilating any value in the club and causing the de-listing of BIHL. Their job is to preserve the assets of the company, as instructed by the Court, so they must do this.
    2) E&Y were appointed by the Court. The Court is not going to admit it was wrong and hand over a company to a group of inexperienced, inappropriate and suspect pseudo-directors.

    I think Dan nailed it: there is something ‘orrible to be revealed inside the workings of BIHL and the Carson camp will move heaven and earth to stop that.

    I’m looking up at a rotating ceiling fan and wondering what kind of substance is going to strike it!

    • BigAl says:

      Totally agree with your comments and Dan, s statement, Yeung, Pannu , etc are very worried men! What has changed between the receivers being appointed and now! The court considered the applicaton for the receivers to be appointed in the first place, there were sufficient reasons to appoint them. I would be very suprised now if the court removed them.There again with this ever changing saga who knows, this is far more interesting than neighbours!We await the next gripping instalment.

  • John Birch says:

    I am at a loss to understand how CY can have any influence over BIHL business whilst he is behind bars. Surely his “obvious” involvement has to qualify him for being NOT a Proper & Fit person to own a Football Club under the FA regulations and in addition, the HK Judicial system must have some restrictions in regards to conducting business whilst serving a Custodial Sentence otherwise whats the point of penalizing him if his behavior & influence over BIHL has not changed?

    • AussieBlue says:

      John, CY is playing the fact he owns about 28% of the shares in BIHL and influences at least another 17% via his de facto wife Joanna Wang Lei. Since he resigned as a director of both BCFC and BIHL, he does not have to pass the fit and proper test as he is not seen as ‘controlling’ the club.
      Jack the Ripper could buy shares in a company legally so long as he didn’t ‘control’ it or go over the 30% limit under HKSE rules of ‘controlling interest.’ It’s a battle between the HK judicial system and the Law and a group who appear to not respect the Law, but try to use it for their own advantage.

      • fingles says:

        CY seems to be acting more like a CEO thank a convicted criminal. How can his utterings have any credence at all?

        • AussieBlue says:

          It’s not really him; it’s his 28% shareholding plus 17% that his wife owns doing the shouting.

  • Mitchell says:

    It is a little late for CY to start all this. Surely E&Y have already found what they are looking for. Very odd.all this. I can only imagine it is a last desperate effort by CY and his legal team. You know what this could be good because it is now a case of dodgy Chinese lawyers against decent well respected British lawyers . E&Y are not going to let themselves, FA,Football League and of course us fans down are they.?

  • Art says:

    Thinking like a crook-acting like a crook.

    CY and his cronies need to be exposed for what they are -crooks.

    How on earth they can expect the fans to support them financially is beyond my comprehension.

    It will be interesting to see the interest in season tickets and commercial sponsorship if these guys are still around in May.

  • Peter Bates says:

    So if Carson wins and the receivers are removed bcfc are up the creek without the paddle I personally can’t see why Carson has to hold on to the club a fashion statement probably to enlarge his ego I still think peter pannu is the puppet master and the fear of being found out by the police and receivers for what he is spurs him on I don’t think the receivers will lose but I can see this going on a good while yet

  • chris says:

    Peter, nothing to do with fashion, he wants his £80 million back and will hold on till his last breath to recoup this money for those he borrowed a proportion from to buy the club

    • Agent McLeish says:

      I can’t see if it is anything to do with rcouping the money paid for the club or the cudos of owning a club. CYs reasons for buying BCFC seem more sinister.

    • fingles says:

      It wasn’t worth £80m, it isn’t and it never will be. What does he not understand about that?

  • Dave mann says:

    CY v E&Y … It’s gonna be better than mayweather v pachio .. Looking forward to the build up to what’s gonna be a great fight .. Looking forward to the boxing to !! Kro

  • Mitchell says:

    Although a newcomer to this site, I have now experienced too many “Awaiting Modification’. Really not good practice when one is only trying to contribute. I did try but sadly no more. Best wishes everyone supposing this is allowed to be published.

    • Hillfield Blues says:

      It’s just a random thing that happens now and again and nothing personnel.

    • almajir says:

      Mitchell

      Sorry you feel that way – but to make it clear, this is a blog and not a forum… and as such comments are at my discretion. Yes, sometimes the auto-moderator seems a bit heavy-handed but it has to be as I’ve has five legal threats so far.

      If you want to participate in a discussion, might I suggest using a forum like http://www.smallheathalliance.com?

    • BhamCityJulian says:

      Mitchell, it sounds as if your posts contain contentious words

  • Mickey07 says:

    Sounds like the “the net is closing” blame pannu I say,I bet carson doesnt know half that’s gone on in them offices..hopefully our friend will be banged to rights after e&y have finished with him..the knock on the the door is coming mr pannu.lol.

  • Latchford says:

    Daniel, first comment for me on here, but been following for a while and noticed that as this has dragged on, your obsession with Carson and Pannu has made you lose sight of the facts at times. I’m no apologist for what the two of them have done to our club, but this latest announcement clearly states that if the Court order is merely varied, Carson is happy for the receivers to carry on their investigations so long as other powers ( to inject funds maybe ? Or to sell the club perhaps ?) are restored to Directors. On the face of it, not worried that EY find anything but trying to wrest back control of the company and club that he fears others are trying to destroy in a personal vendetta against him.

    • almajir says:

      I respectfully disagree.

      I get what you are saying – however should EY hand back directoral powers then the investigation would be useless as they could be blocked access – just as BDO were during their audit. It’s to force them out.

  • Marky mark says:

    This will get laughed out of court, desperate men taking desperate measures. Keep that cell warm CY
    ready for the evil bald pimple to move in.

  • Riseandshine says:

    If Carson is going to court to remove the receivers, is he not demonstrating he is having active control or influence of BiHL, and therefore influence and control of Bcfc. If this is the case, does he then fall foul of the F.A rules regarding fit and proper person(s) ?

    • almajir says:

      a) as I keep saying, it’s the Football League not the FA.

      b) as I have said before, Carson has no effect on the day to day running of the club. Until that changes, the FL will do nothing but keep a watching brief.

  • Mineheadblue says:

    Persistent little buggers aren’t they…………

  • andy says:

    Surely we do not need any more proof that it is simply just a case of Carson wants to keep the football club, he does not want to sell!

    • Alex T says:

      You missed the OP’s comment… this is clear now that it is not just about wanting to keep the football club. Its about NOT wanting E&Y to find out what dodgy dealings have gone on before at BIHL.

      In the words of Kevin Keegan… ‘I would LOVE it, LOVE it’ if Pannu got sent down :D

  • rhees says:

    When will this sxxt end
    GR in mail yesterday saying blues financially stable

  • blueb says:

    I assume there will be additional costs for E&Y to defend this that will then be passed directly onto BIHL. If E&Y are thrown out and carson regains control who will be paying this bill as we dont have a pot to … in?

  • Jaffa says:

    Al,silly question but on what grounds can Carson argue for the removel of E Y.

    • AussieBlue says:

      He owns 28% of BIHL shares and his wife owns 17% …that’s the grounds – he thinks. But it is not gonna happen. Receivers have precedence over shareholders.

  • Ian Ambrose says:

    Last saturday I was not happy and very disappointment blues fans and huddersfield fcfans att 14,740 only Where over 25,000 to 30,000 fans is nothing because blues fans dont want to see to CY and PP again at St Andrew’s Stadium!!!!…BHIL and E&Y needing to big AWARENESS about If blues stay up plenty not drop 10 point and Should sell club ?????… Because Blues gary rowetts, new bring player and new businessman takeover at St Andrews Stadium will amazing bring BLUES FANS BRING HERE 100% is true!!!… Not same with CY and PP both talking always EXAGGERATION!!!… Carson cy still in prison is definatly 6 years in Hong Kong in china!!!….BHIL should thinking twice about blues fans come 1st and important with new businessman takeover at BLUES NOW!!!

    • Dave Mann says:

      Ian , with the greatest of respect mate even if Carson yeung and is cronies were not owners of our club we still wouldn’t get over 25,000 unless we were in the premier league and playing the top 6 clubs so please don’t think by getting rid of this lot will see blues fans come back in there droves because it ain’t gonna happen pal … Look at Leeds !!! Over 30,000 Saturday And there in a similar position to us … We’re great fans but don’t kid yourself that we have as many devoted , passionate fans as clubs like Leeds , Derby, Sheffield w and so on because as much as I hate to say it we haven’t but I can live with that because what we have got is second to none!!! Kro

      • Ian Ambrose says:

        Well Looking Ranger FC full over 35,000 to 40,000 league 4 to league 1 all support!!…What about samehistory birmingham city fc The Barry Fry!!!

        • Dave Mann says:

          Our best crowds this century were in the 2002/3 season when we got promoted and went out and brought quality players in like Duggary , savage , Dunn , forssell and so on and until we get back there and get players of equal calibre were not getting big crowds of over 25,000 unless its a one off like the baggies in the FA cup, that’s the way it is and will stay irrelevant of who owns us! Kro

        • Monty1875 says:

          You can’t compare us with a club like Glasgow Rangers they have a bigger stadium and a bigger fan base as a result of generations of success,we on the other hand have a much more modest trophy cabinet. But like most bluenoses we don’t go expecting glory (unlike our vile neighbours) blues teams and players of the past were known for the effort and commitment more than glory.
          Though upsetting as losing is its part of the game and as long as we see the effort the results will follow and with investment from a new owner maybe challenge at the other end of the table.
          Premier league promotion it is a pipe dream as good a job as Rowett has done and will hopefully continue to do he’s not a miracle worker

      • eric says:

        I have been at St Andrews with 50.000 plus fans (pre-seats). How many Blues fans went to Wembley for Carling Cup final?

  • bluenose08 says:

    Dan don’t think this is a game of chess I was thinking “Chinese chequers” lol.
    I think ey will not be to bothered by cy as they will know more about the law than what cy and his advisors know. kro

  • blue n bad says:

    I don`t think CY really believes he could recoup his £80m or even close.But he has had chances to cut his losses and take a more sensible offer. The fact he hasn`t begs the question…why is he hanging on? Surely he`s hiding something and i wonder whether it ties in with the money laundering charges?

  • Monty1875 says:

    What is left for CY to hang on to now the only thing left of any value to BIHL is the stock market listing which has been used by CY and his mates to devalue small shareholders stock.
    The HKSE have said they won’t allow BIHL to trade again until they do the following.
    1)conduct an appropriate investigation on the Misappropriation,
    2)publish all outstanding financial results,
    3)internal controls systems to meet its Listing Rule obligations,
    4)Company has sufficient working capital for its operation,
    5)address the allegations against the Company and the Directors
    As long as CY keeps meddling in BIHL this criteria can’t be met so the listing is worthless,all I can think is he must be terrified what might get found if they dig deep enough and in the right places,if they find anything that incriminates him or his mates he can not only kiss his appeal goodbye but look forward to a longer sentence!

  • Dave Mann says:

    Exactly what ime thinking blue n bad .. He’s certainly not going down with a whimper which means there must be some skeletons in the cupboard that he wants to hide .. It will all come out sooner or later so he’s having one last blast before we hopefully blow him away for good ! Kro

  • ChrisG says:

    I don’t really understand how the law works out there but surely this guy can’t carry on the way he is considering he is in prison, I would have thought all privaliges would have been taken away from him. How can he be allowed to interfere with E&Y when he was sent down for money laundering, I would have thought he wouldn’t be allowed near any sort of business for the forseeable future, at least until he’s done his time even working through his lawyers

  • Ian Ambrose says:

    Really I don’t understanding now confuse mixed up about it…Well David Sullivan/David Gold should more information about Great British (GB) Exchanges and the stock exchanges of GB limited and FA rules/policy in fa england league rules to GAVE to CY and PP both comfirmation by solicitor and lawyers formal stetament both agreement ???.. Should 1st place before at 2009 Now carson in prison 6 years…BHIL and E&Y can report to FA to FIFA rules policy in the world???…Nothing Done Blues Fans….. Let us blues fans down for nothing from 2009 to 2015….NO Discrimination Act to CY…Must ” RESPECT” support bring blues fans supports Please and support help to E&Y and team work together Gary Rowetts and player FINGER CROSS COME ON BLUES !!!

    • viperblue says:

      I always enjoy Ian Ambroses’ posts I usually do not understand a word
      but admire his complete and one-eyed devotion to the Blues
      blue for ever

    • almajir says:

      Ian

      I understand you are deaf. However, I’m sure being deaf doesn’t affect how you type. It would be much easier to understand you if you broke your words into sentences, and your sentences into paragraphs. Otherwise, it’s looking like gibberish and it’s going to fall foul of the auto-moderator which thinks it’s posted by a bot.

  • Dave Mann says:

    I think from now on I will comment only on matters on the pitch because what is happening off it is truly embarrassing and none of us and I mean none of us know exactly what the hell is going on .. A money launderer found guilty suing a company of the stature of E&Y from is prison cell is just crazy and we must be the laughing stock of football .. But then again the other clubs propably don’t know what a real shambles our current owners are and let’s be thankful for that .. On the football side ime looking forward to Cardiff Saturday , at least it’s something to look forward to!! Kro

    • mark says:

      On football matters Dave Reading look hot, so unfortunately we wont get much change from them 2-0 reading……imo

      • chattsBlue says:

        Reading Game is postponed, they played their FC Cup replay last night.

      • Dave mann says:

        It’s a good job were not playing them then ain’t it mark!! … Postponed till April but then that will be a league game and not the FA cup..as for Saturday I go 1-2 blues! Kro

  • Ian Ambrose says:

    What do you do thinking CY will happing waiting hearing next on April 1st again court in Hong Kong??? What cy thinking and said????????……………………..

  • Dave mann says:

    Looks like Carson yeung can do whatever he likes by the looks of it ! Kro

  • 1: Mitchell sorry you feel that way about the blog. However, I for one Really Appreciate the info Dan gets for us and the follow up comments from all Blues fans. You should stick with it – the site really is a great source of in formation.
    2: Latchford – Poor Comments Dan is Not Obsessed in my opinion ! Merely a Great source of information for us.
    3: I’m no expert on Chinese Law – However, it does seem to be as bad as Carson Yeung and Peter Pannu have been for our club!
    4: Eric I too have been in crowds of 50.000 at St. Andrews before seating “The Quarter Final of the FA Cup springs to mind: – However, those days have long gone. All I would say is that our fans remain as passionate as ever before. The only problem we have at the moment is Apathy – I have commented here before that at Home Games Now there really are some bad comments from our fans. In respect of what they expect.
    Most Fans (I hope) Realise the Predicament we are in. “Thanks to Carson and Peter Crook -sorry Pannu!
    Dan thanks for the time you take to get the information too us – One Final Thought Can we as fans re-produce for the last few home games something like the atmosphere we have in the past for example – Blues V Vile – The Europa Cup Games? (Or am I only dreaming??????? KROTTEOTR…….

  • Rob says:

    I hope receivers have found the box in the stationary cupboard with all Carson’s hidden loot $$$$. Premier League ‘ere we go!


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