Often Partisan

Carson Receiver Summons Update

Early indications from Hong Kong are that Carson Yeung and U-Continent have failed in their bid to have Ernst and Young set aside as Receivers.

Sing Tao have reported that the Judge has now adjourned the case to promulgate his decision in writing and that 6.1% of minority shareholders have opposed Carson’s position to remove the Receivers, seeing as a “destructive rather than constructive” move.

This sounds like a massive blow for Carson as it confirms that the Receivers are free to continue running BIH as they have been and will further prise his grasp on the club. I have no doubt that it’s not the end of the road – I’m sure if Carson can appeal the decision he will – but I think it shows that Carson doesn’t have the backing from other shareholders.

Edit 00:30 CET 1 August 2015

There has been no announcement to the HKSE about the court hearing but there are more snippets of news.

Oriental Daily ran with this – one thing that interests me is the allegation EY have taken HK$4million (approx £330,000) in fees in the first month of receivership – whether this is true I cannot verify.

 

Tags: , , ,

22 Responses to “Carson Receiver Summons Update”

  • Big Al says:

    Reminds me of reading that book as a kid where Narnia starts to thaw.

  • Tmsblues says:

    6.1% oppose his position ?! Or is this a misprint ?

  • Blue Lizard says:

    6.1% seems like a small number..but anyone or anything that kicks Yeung in the Gonads is fine by me!

  • robin says:

    You always said it would be a long long road,but do you think the end is in sight ?
    Thanks for the info updates again :)

  • StevieW says:

    So it is a major blow to CY that 6.1% of shareholders oppose him??????

    So what about the other 93.9%. I have read the translation and making sense of it all is not possible.

    Dan can you not find one of your HK contacts to translate it verbally to yourself????

    Whilst I think I get the jist of the piece and that is that CY isnt winning the clarity of the piece is quite confusing.

    • almajir says:

      StevieW

      Yes it’s a blow. Judges almost always side with minority shareholders and they’re on EY’s side. Carson has blown it.

      That’s all there is to get.

  • Agent McLeish says:

    Promulgate – word of the day:
    promulgate. to make known by open declaration; publish; proclaim formally or put into operation (a law, decree of a court, etc.). to set forth or teach publicly (a creed, doctrine, etc.).
    Basically to tell Carson to go forth.

  • rhees says:

    All sounds great to me

  • jimbo says:

    Don’t forget that that are some large share holders and not many floating in independent hands .

  • Roy says:

    How is Carson funding all the appeals????????????

  • Dave Mann says:

    He’s running out of patience and respect that’s for sure . Kro

  • I think the 6.1% was out of 10 .has anybody heard anythoing about the young strikers that were on loan I hope we have enough money to get one ,

  • Stephen Powell says:

    The fees could be correct as they do charge, wish I could ask a friend there but don’t think they would tell me

  • mark says:

    if he is backed by backers then imo it will be a bottomless pit as it been proven why he kept on fighting all these years………..

  • mark says:

    Sorry Daniel who/where are EY going to get their fees from??? if this figure true of 300,000 with regards of EY at the moment this could easily rise into millions…………who going to be left holding the baby???

  • Preston Bob says:

    Whilst I hate to see any money going out of BIH unless it is to the Blues the other shareholders obviously feel that it provides good value. I suspect that they have no alternative or CY runs the club again and keeps draining the funds. So best put up with it and hope for a sale sooner rather than later

  • Will says:

    Thank god it’s kick off time Saturday, concentrate on the team for a change HK is out of our hands and will sort itself out in its own time, unless one of us wins the euro millions it’s back down to pitch matters from n week KRO!


Personalised Gifts for a Bluenose
Haircuts and League Cups
Open Tax Services
Corporate Solutions UK
PJ Planning
Rodal Heating

Archives

Weekly Newsletters