Often Partisan

BIH Receive Demands from Pannu and others

Birmingham International Holdings have confirmed in an announcement today made to the stock exchange that they have received various demands upon them from Peter Pannu amongst others.

The announcement is linked here. As there is a lot in there, a precis of the demands are as follows:

  • Charlie Penn, a former director has demanded HK$480,000 (about £41,000) owing to him in directors fees
  • Peter Pannu has demanded a copy of the affirmation signed by Victor Ma Shui-Cheong which formed the basis of the appointment of the Receivers; HK$393,313 (about £34,000) owed to Asia Rays Ltd; confirmation of his current employment status within the company along with two bonus payments of HK$1million (about £87,000) each plus interest accrued; a withdrawal of the announcement removing him from office and an apology plus a sum of money to recompense Pannu for damage to his reputation and for the “distress and hurt” he has suffered
  • China Energy Development Holdings Ltd (stock code 228) have demanded the repayment of a loan of HK$22,782,545.17 plus interest accrued of HK$24,583,682.76 before April 1 – a sum of approximately £4.1million

Naturally, the Receivers are seeking legal advice on all the demands.

I don’t think there is much in the way of comment that can be made as we don’t know if there are sums owing as outlined above but it’s another complication for the Receivers to sort out.

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33 Responses to “BIH Receive Demands from Pannu and others”

  • Monty1875 says:

    I wondered how long it would take for Pannu and his dodgy mates to throw the dummy out the pram!

  • StaffsBlue says:

    “… an apology plus a sum of money to recompense Pannu for damage to his reputation and for the “distress and hurt” he has suffered.”

    It’s a pity Blues fans can’t sue the bugger for the distress and hurt suffered over the last 3 years. The blo*dy cheek of the man!

    Let’s hope E&Y can repel yet another attack.

  • Bluenosesol says:

    looks like Pannu is clearing his desk!! YEY!!

  • Alex T says:

    I wonder if the demand for £4.1m to China Energy Development Holdings Ltd would force the sale of the club, or even administration….. maybe we are not safe of the drop yet!!

  • DoctorD says:

    So this is Pannu and pals getting nasty. I hope E&Y just sort it out.

    • DoctorD says:

      PS Dan – wonder why E&Y didn’t announce receipt of the letters immediately on getting them? On previous occasions, they’ve made statements on the same day as receiving demands. In this case, it’s some time since they got them.

  • Jaffa says:

    Looks like the cash cow has dried up for these jokers.

  • Robin says:

    Surely E&Y would be expecting something like this off PP & chums and hopefully it won’t distract them from finding evidence of miss management that will be thrown straight back in his face !

  • Mitchell says:

    Let’s get today over without any nasty 10points etc. I have always felt until this is finalised, we still have to watch Wigan. Latest input by Pannu and co. Is to let blues fans aware that suffering will not cease.However, just imagine how we will feel one day when a new regime will come in (and it will) and success follows. I personally await Dan to inform us after mid-night that the day has passed and I don’t have to look at Wigan anymore !!

  • Agent McLeish says:

    Has somebody informed Pannu that he has never had a good reputation? And why is he demanding money – what has he ever done to earn any? Maybe this is more to do with the flow of cash out of BIH now being stifled.

  • brumjon says:

    Pannu again being the greedy get we all know he is. But surely this time his and the other demands are pushing the receivers into selling the club even more. Has Pannu realised he needs to get what he can now and turned on Carson? ? ?

  • neil says:

    i wonder if e & y will look into why the fees to pannu/aisia rays went up loads after our relegation

  • Luke says:

    It could be argued that Pannu did more to damage his own reputation (on this site no less) than the receivers could ever manage.

    Dan – is there a possible connection between Doctor D’s question above and the answer you gave to Alex T’s question? In other words – Why delay these announcements until now? Because to have announced earlier might have risked a points deduction. E&Y won’t care about Blues staying up, but they are duty-bound to maximise the sale value of the club…

  • ChrisG says:

    What part of “YOU’RE FIRED” does Pannu not understand?????!!!!!

  • Stevie W says:

    So in short demands for reimbursement by potential creditors. if the claims are substantiated then can the company afford to pay them???

    I love speculation.

    On the subject of PP being hurt can we as Blues fans put a claim in against him for all the hurt and pain endured by his tenure.

  • Art says:

    Seems Pannu and his cronies are on a suicide mission to bankrupt the club.

    You just couldn’t make it up.

  • Ptaah says:

    I just hope cold hard cash can mend Peter’s broken heart

  • AussieBlue says:

    And the writs start flying. Not sure about China Energy but the others sound like desperate ‘f**k off’ money demands as they are indelicately known as here. That is; give me this amount and I won’t cause you any more trouble. Won’t work with the likes of E&Y.

    • Hillfield Blues says:

      Same old PP trying it on for a few more quid before the door is finally slammed.
      It’s the China Energy one that is more of a concern.

  • Adam True Blue says:

    I wonder if indirectly any of these reimbursement claims are for the securring of CY’s legal team? He must be getting low on funds porridge is expensive! Kro

  • Adam True Blue says:

    Reading through the announcement, it does appear that not only is PP a bit miffed at being thrown out but he is also very desperate for cash, reading into his wording and time demands, are the wolves (not wwfc) already knocking at his door?

    I think if any of these demands were to be met, then the announcement would not be today which theoretically would make us safe of deductions? Waiting for ‘Haircuts and League Cups’ the movie, Dan there is a cameo in there somewhere. Kro.

    • Hillfield Blues says:

      Dread the thought….would you really want to relive all this crap again?!!

      • Adam True Blue says:

        Hopefully in the not too distant future we will be able to look back and laugh, and we will need reminding of how bad things got, hopefully the film will be a happy ever after. Kro

  • Mickey07 says:

    Hurt and distress?pannu the pig just can’t keep his snout of the trough can he money is his oxygen and will be his downfall.

    Pannu fiddled while Rome burned.

    Not long till you get the knock on the door Pete…

  • Adrian D. Duffen says:

    Hi Dan, can you give us any info on this China Energy company, and it’s links to BIHL etc? It would be good for us not as up to date as you to know, as much as possible about this part of the demands for cash.

  • Blooflame says:

    All this bluster is a smoke screen. Pannu in reality is in the cross hairs metaphorically speaking. E&Y have much work to do. The outcome will be interesting

  • Brian says:

    Dan

    I know speculation is not perticulerley fruitful but if the sums of money owing are correct and lawful. Then how is BIH going to pay or not pay.

  • Blue Lizard says:

    Damage to Pannus reputation?? how do you damage the reputation of a fat slobbering lowlife dung beetle?(my opinion and not influenced by OP)

  • Aussiebrum says:

    Sadly Peter P has been sacked from the job he loved, a job he applied himself to so selflessly. The administrators have hurt his feelings and damaged his professional standing as a company director. It’s the administrators actions that have denied Peter P a host of plum directorships of major corporations.

    At least all the fans at BCFC all have such strong feelings for you Peter.
    .

  • john says:

    Pannu has now confirmed to one and all, that he had no interest whatsoever in BCFC , only how much money, he could take out of the club.

  • […] letters and other matters. The implications of these developments are discussed in two articles (1) (2) posted by Daniel Ivery on his Often Partisan […]


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