Often Partisan

Carson back in Court

Poor old Carson. Barely has he got through celebrating his birthday when he’s back in court and in severe danger of losing his house.

Carson is due back in court at 3pm today (HK Time, 7am GMT) for the adjourned hearing in the case Wing Hang Bank have brought against him. They are applying under order 88 rules to repossess Carson’s deluxe apartment on the Peak as he has defaulted on a loan secured against the property. The money from the loan went into funding BCFC/BIH at about this point last year.

An added complication is the asset freeze order placed upon the property by the HK judiciary; I am currently unsure as to what will happen with respect to that charge order should Wing Hang be granted foreclosure or forced sale of the property.

As news breaks from China I will be doing what I can to update you all.

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23 Responses to “Carson back in Court”

  • Harry Meadows says:

    Gotta feel a little sorry for Carson, as his money went into blues/BIH, and I know the exact date and time-and what it was for. However he should be looking after his/triad money better. I’d say if he wants to get some money, do some betting on villa getting relegated, or blues winning games, he does have a knack at gambling, mostly in Macau though…

    • Letsby Avenue says:

      That jolly inuendo surely comes under the heading of slander ?

      Of course, Harry, in your mind, you are being witty aren’t you?

      You don’t really believe that Carson is involved with Triads etc ( actually, what are they ?) – more than the Krays who were always involved with West Ham ? And have a long history with both the Golds.

      ( Prior to the Golds’ involvement involvement with Blues.)

      Exactlly the same with Carson – any over-reaching on his part was before involvement with Blues.

      Still, it’s good to kick someone when they are down, isn’t it ?

    • almajir says:

      Harry – no, you don’t.

      • Atahualpa is a BlueNose says:

        Losing your home – not some property – is a serious issue. It would seem that the court would have made provision for CY to make repayments when freezing his assets. Perhaps the court hearing is to determine why those payments have not been made. Never wise to second – guess but in the face of having not much info and/or details to go on, CY may have used the funds to prop up other segments of his business empire. It probably shows that he is in a pickle of sorts, as any financial adviser would tell you your mortgage is the first payment you make. But, he may have one of his business associates lined up to make another loan – just until he can start making decisions again without all of this hanging over him. Provided he gets cleared of course.

        To those making two – bit innuendos about Triads and the like, obviously they are compromising their credibility. Even having associations with criminals is an offence in Hong Kong. If that were the case, I can assure you they would have been leveled at CY. The case centres on payments into various accounts controlled by CY and tax avoidance issues.

        Regarding BCFC / BIH, it would seem that this is the ‘jewel’ in his business empire, and I doubt very much he would dispose of it whilst it was undervalued and in a real possible situation of making major progress. It is with BCFC security that BIH would be able to have equity released for other areas of his interests to flourish. He would only sell if there was no other option available. Even then I presume another chinese/ far east individual / consortium would be the purchaser.

        Maybe his ‘mistake’ was to try and develop too fast too soon without having liquid funds in place, and relied too much on credit in the hope that he could juggle all the various interests in his possession. Only he can truly answer that.

        Question for you Almajir;

        If BIH are placed in administration and go under as a concern as owners of BCFC PLC, even if Blues are self – sustaining and could prove their viability and funds to continue, would it carry any sanctions for the club itself, or are the two that inextricably linked?? Just out of interest have been following the Pompey saga, and even though their owners were placed in administration, the club carried on for a short – term and were then only placed in admin when they ran out of funds in the club’s bank accounts as they were then frozen and they simply did not have the finances to continue. My reading of the situation is that Blues are not very reliant on Hong Kong money, at present, to keep the club going and if / when we are promoted, this will obviously affect the finances in very positive and serious way. That was never going to be the scenario with Pompey. Would the Premier League have that sort of authority – in that regardless of BIH’s situation – BCFC would be able to continue until new buyers were found as the club was on a sound financial footing? Would it be possible the club are hoarding funds for this sort of possible scenario?? Might not make much business sense but just had a thought regarding this and thought I’d add it to the debate.

        NB Sorry, I did say question but meant questions.

        • almajir says:

          Some Complex questions there

          1) I’m not sure if the league would sanction Blues, but I believe that they would. Southampton had 10 points docked when their parent company went into administration when it was proved that the club accounted for pretty much all of the parent companies assets; something that applies to Birmingham City also.

          Pompey were worried about the whole admin thing but the club itself couldn’t function without input from their owners; Blues have been functioning with very little money from HK and whilst it wouldn’t be pretty, I believe they could continue to do so if they kept costs down and maybe moved on Zigic or similar.

          The Premier League would have nothing to do with it because at the moment we’re not in the Premier League.

          If Blues parent company was in admin but the club was functioning, then I believe Blues would be allowed to continue but under the same strictures Southampton were.

          All lots of ifs and buts.

          • Atahualpa is a BlueNose says:

            Thanks for the reply.

            Meant if we were in the Premier League and at that stage BIH were placed in administration.

            Even with all the possible implications of this, if the club can sustain itself, then there really is hope.
            The chances are PP and the board could be catering for such an eventuality. CY would obviously try and protect and shield his most prized possession.

            Like you say, Almajir, all conjecture and we will not know for sure and can only go with ifs and buts.

  • prewarblue says:

    Its times like these when you find out who your mates are,,,,,,,and if their settee is comfortable for kipping on or will they help out with a big cardboard box.

    The Vile had a homeless bloke dossing down under the Holte End last year,,,,,where they have lead Blues maybe will follow,,,,only our toss,,,,sorry spelling error dosser will be the so called owner of the Tilton Road stand

  • Letsby Avenue says:

    AJ – thank you for this latest info.

    I’m pretty reluctant to attempt to spell your full name, so I stick to AJ – apologies mate.t
    :-)

    In this topic,(the bank seeking restitution etc) – which I was going to ask before, when you first reported it……last year actually :-)

    If Carson’s bank account(s), holdings, cashflow, management of income and management of business etc – – – if they are all frozen?

    HOW, on earth, could he or his accountants service any rent, mortgage or charges, if they are frozen?
    If Carson was ever found guilty, would the Bank then forfeit whatever mortgage payments they’d already received, on the basis that they were “corrupt finances” ?
    ‘Dirty money’ in effect, and so reclaimable by the State.

    if Carson wasn’t allowed access to his funds, how could he pay mortgages, water etc on The Peak?

    My image is that Carson is maintaining his high profile ( but with humility) for image and self-esteem….and having to survive and exist on his dispersed family wealth. Areas not under constraint by law.

    I wish Carson all the best (as you will gather :-) ) I truly hopes he pulls through this adversity and it further collapses as it is seeming to be now – certain charges being reveiwed and quietly dropped.

    Meanwhile, our new owners stumbled and fell over at the first hurdle – second hurdle :-) (McLeish loyalty) – but By God, hasn’t Pannu and Hughton (who knew the score) worked a miracle?

    Thank you AJ for your research and support of Blues.

    • Blue in Spain says:

      Spot On Letsby…

    • almajir says:

      My guess is that there has to be some provision to allow Carson to live some of his life. I can’t believe that they’d shut off every single dime of his cash so he couldn’t pay his bills or feed himself – I guess he’s probably got some sort of allowance of cash he’s allowed to spend from his account to pay for things.

      As the order is sealed though I guess it will have to remain as a guess.

  • Masaccio says:

    I hope Carson Y sorts himself out then sells up and moves on. I think this is the best outcome for all parties. I tend to believe that CY had good intentions when buying the club but was stung by the previous owners into spending far too much on the purchase. He must regret buying the club and an honorable way out would be the best way.

  • Dino Tiltoni says:

    Obviously this is all getting rather tricky for the former hairdresser! He has been extremely naive. He’ll be shapeniing up his scissors soon by the looks of things.

  • Bluenosesol says:

    Surely, with the amount of money which must have been floating around CY coffers, he must have seen the writing on the wall and made rainy day arrangements to sustain him through his pending adversity. The authorities can freeze your bank accounts but they cant take the shoebox under your bed!

  • skareggae72 says:

    Does anybody actually know how many homes/accomodation Mr Yeung has got(my guess is multiple),im sure if the worst comes to the worst he has plenty of friends,i get the feeing he wont be sleeping in a tent tonight.

  • Bluehobba says:

    At one point last month, Blues were to receive monies from our owners as a cash injection then we sold Beau and Ridgewell. Where did the monies come from, Did we actually receive the monies and have we / are we using the monies after the sale of the 2 mentioned.

    • almajir says:

      1) Don’t know
      2) Yes we did
      3) I would assume so to keep the club running

      • Bluehobba says:

        oh ok, I assumed the money received from the sales would have got us through to the end of the season and probably a bit ie loan signings..and any monies from the owners would not have been as badly needed due to those sales. Probably more worse off than I thought.

  • Euston 9.18 says:

    Maybe the 2 cup runs (Europe & F.A. Cup) have helped with the St Andrews finances.
    Wonder if will ever see the profit / loss of the running of BIRMINGHAM CITY FOOTBALL CLUB,the day after the Carling Cup.
    1) How much the cup run and winning the Carling Cup was worth ??
    2) The amount what was gained for relegation (the first payment for year 1 for being in the Championship) ??
    3) How much the vile paid for Mcjudas services ??
    4) The actual amount paid by the buying clubs for the players that left after the C.cup ??
    5) The actual amount saved (wages) for selling these players ??
    6) How much bonus did the players get for winning the C.cup ??
    7) And the debt is ?????

    K`R`O.

  • John says:

    The Chelsea game at home will generate money, also the Europa League games generates money. Every win and draw is awarded with pricemoney.

    I also believe that Townsend is a free loan cause of his age, am I right?

  • John says:

    I’m not sure, I just think a read something about youthloans are free.


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