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.


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