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Carson Loses Appeal
It has been confirmed in the last twenty minutes that Carson Yeung’s appeal against the freezing of his assets has been dismissed by the appeal court in Hong Kong.
Carson appealed against the freezing of HK$721million (circa £59.1million) of his assets, stating that the judiciary had counted money twice as it had been moved between accounts and that they had not taken into account the increase in value of the property in Barker Road.
However this appeal has been now been dismissed and Carson faces an uncertain week as he is back in court next week to hear about the repossession order on his Barker Road property.
Tags: Carson Yeung, China, HK
30 Responses to “Carson Loses Appeal”
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Surely this has to signal the beginning of the end of his tenure at Blues.
This was a last desperate move which had a slim chance of succeeding – hence the failure to get the freeze uplifted – and he must now consider an exit strategy which allows him a dignified way to get a decent amount back and let the club and indeed himself, move forward. Without him there is no BIHL and this deeply affects the club.
He gambled, he lost – big style. Attaining great assets involves taking great risks. It simply has not worked out.
You make an assumption that CY gives a damn about our situation which I doubt.
He will not sell us cheap whilst he’s in this much doo-doo.
Same old same old for now.
In my opinion it is looking inceasingly likely that he will be convicted and God only knows where that will leave us and with that joker Pannu in charge who has now been shown up as clueless by his latest date f-up re the accounts the future is bleak.
Worst case scenario, CH leaves, accounts lead us into admin and a 10 point ban and the embargo continues, I hope anyone already renewing doesn’t have to pay again for their STs
The notion that Carson Yeung does not care about us is surely an erroneous one?
Regardless of his current position, Carson Yeung owns the largest number of shares in our parent company. If we, as one of the largest – if not THE largest – asset of that company are in a non-profit making situation, then he simply has to care as it’s a situation that will affect his, and other shareholders, future earnings.
As a businessman, he can’t not care about our current situation – but he can’t currently do anything about it due to his personal assets being frozen.
The only way forward, however, looks to be for other shareholders to buy out Mr Yeung’s stake in BIH – though with many of those shareholders being personal acquaintances of Mr Yeung, it seems unlikely in the short term.
Exactly Kaje.
He has alot invested in Blues.
Regardless of how worried he is abour his criminal case, he has too much invested in our club simply to not give a hoot.
Exactly Atahualpa. Cannot see Carson turning down any sensible offer. Hopefully Blues Ladies’ FA Cup triumph, last year’s Carling Cup and our spirited performance over the last season might tempt an individual with money to invest in a brand that performs excellently, given the chance.
Interesting times in which we live…
Right you are Wingman.
Question is, will CY accept what everyone else considers reasonable??
Sooner or later someone will sense his desperation and WILL make an offer – it stands to reason if you’re a business person. But it will need to be a person/organisation who are forward thinking rather than hoping for a quick return and assest stripping.
Personally I believe we shall be purchased by far eastern new owners.
With the world as it is at the moment even the people with real money will just not want to spend on a football club(or what it takes to buy and do it right!).We are still in the dark and i think we will be for some time yet.We can only but hope…as usual.KRO
As it stands, Birmingham City were bought for £80 million, i assume that was financed by borrowing the money? Carson did put £17 million of his own money into the club during the relegation season, we are led to believe. So how much does he sell the club for? He certainly wont get his money back, and where is this potential investor? There are some rich chinese on this BIHL Board, so could one or two wrestle control from Carson? As supporters and season ticket holders, we have the right to some answers. This blog is fantastic and has kept, and continues to keep us informed, its a pity the chinese dont.
I wonder if Paul Carter would like Peter Pannu’s job, or could do it better? We have more than survived a season, wages have been paid on time and he has to rely on what he is told about the accounts. He was obviously told the accounts would be out in May, and naturally passed the information on. He has no control over when they will be ready. As for CY selling up, where is there someone with loads of money who would buy?
As Carson Yueng, is the ” supposed ” owner of our club, Could someone expain to me in clear English, !!. Just what other members of BIHL, are acually there for,?.
With the Chairman/Owner, — incapacitated, where or what are these others doing,?. — It seems obvious that it is a ” nothing type “, of organisation without C,A.!!.
I have heard it through the grapevine and more than twice about two large Companies in China been very interested and certainly monitoring Yuengs position etc. I am sure they are not the only ones doing this…
can anyone shed any more light on this as i am sure i am not the only one to have heard this…KRO
Re: Paul Carter says: comes across as a viler trying to wind people up.
Quote “accounts lead us into admin and a 10 point ban and the embargo continues” the accounts can’t lead us into admin. Only not paying your creditors can do that, therefore no 10 points deduction and if the accounts have been released then the embargo would be dropped.
Quote “I hope anyone already renewing doesn’t have to pay again for their STs” another attempt to wind up people and make them have doubts about renewing their season tickets.
Gloom and Doom same as was predicted at the start of last season lol and look how that panned out.
My tonsorialist has it fresh from his milkman that Empledump Pumpernockers will win the Euros and rescue PP from his dangerous habit of being open and transparent. I further believe that that last habit enables PP to be both mom and dad to us all at will. This heat affects us all.
Thank goodness the Dirty One has brought some rational logic to all of us.
[…] So in the meantime, sit back and laugh at the Blues. Their owner Carson Yeung today continued to have all his assets frozen and the excellent OFTEN PARTISAN site reports it HERE. […]
Laugh at us filth boy after the season you’ve had?
Thanks for the £3million and the £3millio in compo to Mcleish.
There’s 6 million reasons for us to laught at you, never mind the crap season you’ve had in comparison to us :) :) :)
truly the most ignorant and blindingly retarded tripe i’ve read ..since McGinger’s last statement, shortly before he was thrown out onto Witton Road leaving SHAME written all over the vile.
..i’m still pondering about writing a letter of complaint to Harry Redknap as to why he handed the vile the surviving point of the most dreadful, embarrasing, shocking, humiliating, incompetent season the vile have ever had, only to be saved by the poor performances of those clubs under them, and then by spurs!
go figure???
Arthur you are so obvious :)
Joking? Sums you up pal if you think I’m Vile scum. Everything IS gloom & doom right now in case you hadn’t noticed or are you waiting til Chris does one until you finally admit it to yourself.
Jake :)
I’ll be renewing, that is never in question same as it hasn’t been since 72 when I bought my first one.
I will, however, be waiting a while this time to see what is actually going on.
Jake/Arthur/Graham/Mike or whatever else you want to call yourself.
You might want to learn that changing your username doesn’t disguise you’re using the same computer.
:) :) :)
Wasn’t hard to work out.
Strange aint it why they’re so obsessed with us.
:-)
TWO salient facts (that seem to be regularly overlooked).
1. Carson Yeung is ONLY the largest single shareholder in Blues.
2. Carson Yeung has been the only person finding money to invest in Blues.From his own pocket.
On point 1:
75% of Blues are owned by other people/ businesses. A 25% shareholder CANNOT sell Blues on his own – the most he can do is sell his shares to others. Therefore relinquishing guidance and primary funding.
On point 2:
By mortgaging his own property and trying new share issues, Carson Yeung has funded McCleish’s high wage earners and and other staff incomes.
That all STOPPED 10 months ago.
Peter Pannu has had to work with Chris Hughton to keep Blues afloat when overnight the tap was turned off.
The other 75% of Blues’ ownership have raised? Contributed?
We only know of one input, and that was at extraordinary and punitive interest rates.
We need to remember, Carson Yeung CANNOT SELL Blues.
He can only sell his shares, and with an assett freeze on him, what would be the point?
We have two real problems. Getting the accounts published -(and the transfer embargo lifted) – and keeping Chris Hughton and his management team.
:-)
are we saying that CY’s total worth is , assets + cash etc, is £59.1m? If so I cant see him ploughing alot more into the club
Not at all surprised with this news. Can’t wait for next week when the accounts do not get published again. Really sick of these clowns in charge of our club. I wouldn’t blame CH in the slightest if he went although WBA is too close and may really anger some of our fans.
If CH goes I think he would be dignified and explain his reasons for leaving unless he was forced to sign a confidentiality clause.
Is this true..
wba or any other club,can’t approach BLUES,officially until 16th June,due to “rolling contract compensation law”
K`R`O.
Never heard of that Euston.
A quick google shows one hit, in a comment on a Daily Mail article, so I’m going to say until I hear otherwise I think it’s balls.
ALMAJIR:
That’s where I got it from.
K`R`O.
Just want this whole BIHL / Carson / Pannu / Hong Kong thing finished really, it’s just dragging on and to be honest, I just want to hear news about football.
Nothing against what you report almajir, I’m just getting fed up with the whole saga.
as for everything else..? BCFC all the way! bring on the next season.
Is carson allowed to sell his shares or anything else ? And wouldnt the money have to go to his
creditors ! As for ch i would suggest that he has given blues a deadline to sort things out or he will walk away from the job and i cant see one blues fan who would blame him. We need someone on the b.i.h.l. board to step up and take control from carson so we can get things moving. Whats the advice on buying a season ticket buy now or wait ! And what are the chances of the accounts being published by the end of the month and what about the present accounts that are due.
k.r.o.
well, if there is a buyer out there, they surely have to make a move now….