Seymour Pierce threatens sale of Birmingham City• Investment bank takes effective control of club over £2.2m fee
• 'Seymour Pierce … could sell them to another owner'
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guardian.co.uk, Thursday 15 April 2010 11.38 BST Article history
Birmingham owner Carson Yeung has so far failed to pay a £2.2m fee to Seymour Pierce. Photograph: Stephen Pond/EMPICS Sport
The investment bank Seymour Pierce has effectively taken control of Birmingham City and could put it up for sale after the club's owner, Carson Yeung, failed to pay a £2.2m fee to the bank.
Last month, Seymour Pierce, the company chaired by Keith Harris, sued to recover the fee it said it was owed for laying the groundwork for Yeung's takeover of the club.
The company won a court order requiring Yeung to pay by Monday but, as the money was not received, Seymour Pierce can now gain a charge of the shares held by Yeung's company, Birmingham International Holdings.
"Seymour Pierce can take a charge over the shares of Birmingham City and do what they need to do with them to recover the money it is owed, so that means they could potentially sell them to another owner," the Seymour Pierce spokesman Neil Bennett said on Sky Sports News.
was talking about them in our takeover thread.
• 'Seymour Pierce … could sell them to another owner'
(10)Tweet this (24)Press Association
guardian.co.uk, Thursday 15 April 2010 11.38 BST Article history
Birmingham owner Carson Yeung has so far failed to pay a £2.2m fee to Seymour Pierce. Photograph: Stephen Pond/EMPICS Sport
The investment bank Seymour Pierce has effectively taken control of Birmingham City and could put it up for sale after the club's owner, Carson Yeung, failed to pay a £2.2m fee to the bank.
Last month, Seymour Pierce, the company chaired by Keith Harris, sued to recover the fee it said it was owed for laying the groundwork for Yeung's takeover of the club.
The company won a court order requiring Yeung to pay by Monday but, as the money was not received, Seymour Pierce can now gain a charge of the shares held by Yeung's company, Birmingham International Holdings.
"Seymour Pierce can take a charge over the shares of Birmingham City and do what they need to do with them to recover the money it is owed, so that means they could potentially sell them to another owner," the Seymour Pierce spokesman Neil Bennett said on Sky Sports News.
was talking about them in our takeover thread.
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