Premier League 2012/13
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Courts tells Birmingham City owner Carson Yeung to quit his £12 million home
CRISIS-hit Birmingham City owner Carson Yeung has been given less than two months to quit his £12 million home in an exclusive part of Hong Kong.The embattled former hairdresser was yesterday ordered to leave his sprawling property on Barker Road, in the posh Peak area, within 56 days after a bank won a civil case against him.
Yeung was taken to court after he failed to repay personal loans totalling £15 million he allegedly took out from the Wing Hang organisation to help prop up Blues' parent company, Birmingham International Holdings Limited.
And in a statement released to the Hong Kong Stock Exchange, Birmingham International Holdings Limited revealed that two members of their board were to step down with immediate effect.
The statement read: "Mr. Yang Yue Zhou has resigned as an executive director and deputy chairman with effect from 4 June 2012.
"Mr Steven McManaman has resigned as an executive director with effect from 2 June 2012."
The resignations and Hong Kong court order capped a miserable week for Yeung.
Last Monday, he lost an appeal to ease restrictions on his business assets.
They were frozen after he was hit with £59 million money laundering charges, which are the subject of a separate legal case.
Yeung’s perilous financial position has led to repeated delays in the publication of the accounts of BIHL.
And those hold-ups, in turn, prompted the Football League to slap a transfer embargo on the St Andrew’s outfit.
Blues’ acting chairman Peter Pannu last month revealed that he had advised Yeung to give “serious consideration” to selling his stake in the club should a potential new owner come forward.
Read More http://www.birminghammail.net/bi…
NO!!!! MY BLUES are in bad shape now!