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Carson Yeung Sues to Prevent Sale of BCFC
Lawyers representing Carson Yeung were in court today trying to force through an EGM requested by the former hairdresser of Birmingham International Holdings in his capacity as largest shareholder and to prevent the immediate sale of Birmingham City.
According to on.cc, Carson has filed a writ with the High Court to prevent Ernst & Young from selling Birmingham City. He has also applied to force an EGM as previously requested, requiring Birmingham International Holdings to announce this on the stock exchange website as well as advertisements in two English newspapers. Carson has also sued registrars Tricor Tengis to allow him to inspect the shareholder register, stating that he believes it has been changed.
As of yet no news of an EGM has been announced and there is no confirmation whether the courts have agreed to it; however as stated before there are multiple issues regarding the appointment of at least one of the directors Carson requested. If an EGM goes through it will make life much more difficult for the receivers in trying to arbitrate the dispute between directors and will almost certainly affect the day-to-day running of the club.
The hearing date for the application will be May 6.
No comment has yet been made by the club.
As further news breaks I wil endeavour to update.
Tags: BIH, Carson Yeung, HKSE
64 Responses to “Carson Yeung Sues to Prevent Sale of BCFC”
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As Yeung is locked up I see the hand of Pannu in all of this. Let’s hope this application gets thrown out.
So if the receivers were in the process of trying to sell the club, does that mean that’s all on hold until 6th May when the the court will decide whether to uphold Carson’s request?
His last throw of the dice,I can’t see Ernst and young being pushed about by these 2 bob bit clowns pannu and yeung.
Also forgot to say
“immediate sale of Birmingham City”???
What’s going on dan?
People reading too much into it is what is going on. He’s just stopping them doing anything right now.
Micky
Your talking about the largest single shareholder in BIHL, I certainly wouldn’t think this is his last attempt to salvage anything.
KRO
Hasn’t he missed the boat somewhat on this? The challenge should have been to the appointment of E&Y as receivers.
That challenge was made and failed last Monday (as I reported at the time)
He should have brought these proceedings at the same time though. To some extent he is trying to re-litigate issues which have already been decided – it’s up to E&Y now to call an EGM, in their absolute discretion, I think.
Correct.
I can’t see them allowing it for the same reason the BIH board wouldn’t.
Did you? Sorry I think I missed that nugget…couldn’t see it on this site but perhaps you said it elsewhere.
Did anyone really expect Laurel & Hardy to go quietly?
Lauren n Hardy is right these twopence halfpenny fly by nights will surely be kicked into touch by EY.
Where is he getting the dosh to launch these legal challenges?.
Absolutely pisssed of by it all..
Please don’t compare Yeung and Pannu to two genius’s.
“A right fine mess you got me into, in Stanley”
(sorry Steve, couldn’t resist. And you are right)
It’s like the bully running to the headteacher to get his way. Surely the courts will throw this out. It is surely proof, if any were needed, that the number one thing Yeung cares about is himself and his money.
I don’t think there’s ever been any doubt about that. Carson may have enjoyed being a football club chairman but right now everything he does is a gamble about what he thinks gives him the best chance of getting as much cash as possible back from the whole fiasco. Ditto Pannu – they’d be mad to be thinking anything else.
This is concerning news -all these legal issues are costing the group loads of money.
How long can the group sustain financial viability before closing the door on their business?
Apart from a fashion statement what reason can cy have not to sell bcfc he will never get what he paid and by keeping it he his doing the cub no favours also what further proof do the powers that be need to show that cy is Still running bcfc kro
Unfortunately, I think it’s pretty much evident now that the powers that be don’t give a flying fok.
I imagine all the other shareholders are sick to death of all this (as are we) & probably just want to sell up & move on & who could blame them. What I don’t understand is how CY can be conducting business from behind bars
I don’t suppose that Yeung had any toys of his own as a child (Pannu probably just took everyone else’s) !!
Hahaha love that analogy Mineheadblue
When are theFA going to stop these muppets not only ruining clubs but the game in general
As I keep saying, it’s nothing to do with the FA in this case, it’s the Football League…
further proof to the Football League that he is acting as a “shadow director” which is clearly in breach of FL rules. Hopefully the FL will see the actions by the other directors of calling in E&Y as a “necessary action” and not dock us 10 points
Dan
This move by Carson Yeung must prove to the football league that he has control and influence over the running of the club
Okay – and what punishment do you think they will instigate if they decide that?
Do you think it would be against Carson, who they can’t punish – or the club, who they can?
Exactly my fear when I heard it. Prima facie evidence that he does exert control, or at least try to. To block the sale of a club is about as much control as you can exert. If E&Y argue in Court that it has to succeed in order to be shown that he ‘exerts control’ then maybe that will buy us time and prevent a points deduction.
He doesn’t though, that’s why he’s going to court to regain control
We’re on the same page Chris.
He doesn’t have control that is what he is trying to gain from this move
My real concern is that these E&Y guys don’t come cheap and have a knack of spinning these situations out to maximise their earnings. I estimate that if E and Y have 3 consultants on this with three admin support daily costs will be approx. £30k. If that rumbles on for 6 months then you could be looking at nearly £4m in resources alone. That’s a bigger hole than the misappropriation costs to date!!
Money well spent in my view, if it does get that high. Better value than Heskey!
not if it comes from bcfc.
the club may not be sold after this is over as the board room rumpus maybe sorted and the board could decide to then keep the club, which means as bcfc is 98% of bihl then blues would foot the bill.
only if the club is sold will the costs possibly come from sale proceeds.
Chris, it’s BIHL that has appointed the receivers, not BCFC plc.
Does this effectively mean that Carson Yeung has succeeded in stalling any sale of the club until at the soonest the hearing date on May 6th? If so I presume that EY will be still claiming expenses? can anyone throw any light on these points?
It looks to me like EY are already talking to potential buyers for BCFC.That’s why Carson is panicking!
That’s exactly how I’ve taken this horrible news.
It’s not nice reading this, but there must be a reason why it’s happening.
All we can do is pick up some points and hope we don’t get a deduction.
Hopefully this will all be sorted out by next season and we can start looking up rather than everywhere else.
Keep right on!
May 6th? so am i right in thinking nothing can happen until that date?
I think that all we can do, is what we’ve always done with this bunch, hold our breath and watch what unfolds.
Staffs..you’ve been saying that for years but we’re getting fed up waiting.
It’s all you can say DD. What’s the alternative? Scream and shout… and get absolutely nowhere? Either way is not ideal, but I have to think of my bood pressure. ;)
It amazes me how much interest fans have when Carson yeungs name is mentioned… It’s ashame they don’t show the same interest when the team have a game to play tonight and give there opinions more on the team and Ipswich but that’s just my opinion so as far as ime concerned mr yeung can rot in his prison cell and sue who the fok he likes!! Kro
Maybe it’s to do with the fact that this is about Yeung. If you want to talk about tonights game go onto the blog named “Ipswich preveiw.”
Ffs wish this could end sick of waiting around
Come on the boys tonight
Yeung is getting advice from somewhere..he isn’t smart enough to work this out for himself..i Detect a big fat bald head in glasses poking him from behind..(probably not the only one considering where he is)
For a man, convicted, in prison, and [ supposedly ], had all his assets frozen,?. How is he funding all these appeals/ court injunctions, etc, ???.
None of these actions are free,!!.
I don’t think any businessman is ever completely broke OB. You’d have to be pretty dumb not to have something stashed. :)
Staffs matey, Whilst I take your point about ” rich-people ” having a secret stash, How come the Hong Kong courts have not searched for ” these ” other assets,?. — That is what I was actually getting at.
If the monies aren’t in bank accounts or other accountable assets, what can they do. Needle in a haystack comes to mind.
Cayman Islands. British Virgin Islands and who knows where else. Pannu’s the bagman.
Best getting lost to carson because carson too many time lair and let blues fan down No Good !!…Best new fresh who someone big business takeover at BCFC and bring blues fans better than vile on HERE massive with BCFC like man city!!…GETTING LOSTand OUT OF ORDER CARSON in China!!! BEST SELL CLUB NOW and NO WAITING TOO LONG!!! Because Bring Blues fans on here is important
Well said Ian Ambrose!
I couldn’t have put it better myself .
….and BTW, I see this as a good thing long term.
It’s “End Game” time.
Carson trying one last desperate ploy – E&Y will (likely) deny him his request – as I believe is their legal prerogative, as BIHL and it’s subsidiaries are effectively in their hands now(?)
I’m not 100% sure I’ll like the “New Owners” an awful lot more than this lot, but one thing’s for sure, they can’t be any worse!!
3 points tonight at Ipswich – 2-0 win for me! KRO!
Nothing to worry about guys, As a director of said company, who is currently behind bars can not by law have any say or dealings with his so called company, he should have been stripped of his directorship as he is currently behind bars, if he is found to have been involved with said company then he can face further jail time and company forced into a winding up order, the guys who are currently in charge can i will eventually sell blues and wind the company up them selves, as it has been menchioned that blues are the only assets left in bihl portfolio
he has been stripped of his directorship, he resigned that position himself this time last year, BUT he is (legally) still a major shareholder and is entitled to defend any position / argument concerning the business, whether he wins that argument is a different matter.
Dan, am I right that Carson’s appeal is due in March and could the result of this have any impact on the receivership process?
Hi dan, do you know if Jeremy Wray is still prepared to wait this out, and do you know of any other interested parties that have been alerted to the possibility of a sale opportunity being brought forward?
Dont forget that Carson Yrung has always had his own way, what he buys, who he hires and fires etc etc now all of a sudden this is being taken away from him as well as his liberty, probably a bit too much to take. He is obviousle seething and I believe this is more of a show of strength than anything else. The power struggle continues.
Is this the proof to the FA by there very so called ethical RULES that the person running our club is not fit to do so and why is he still allowed to ?
he is not running the club,
he is trying to run it and so far not succeeding because the other half of the board are fighting him and have brought in a third party to help resist him.
The League can do nothing as he is just a pest with no boardroom power
Is CY’s son still on the Blues’ board? Surely he’s a CY spy on the inside and reporting straight back to his father? I’m not an expert, but that sounds dodgy.
whatever the out come the club will not move forward until they have gone & we dont want any new owners who are linked to this lot.