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Bank Warns Blues

Investment bank Seymour Pierce has issued a warning to Birmingham City that they will take over the club unless the 2.2million owed to them by the current owners is paid before the end of May.

The bank claimed to be owed the amount from Carson Yeung for groundwork done on behalf of Yeung when he first became involved in the purchase of the club.

Lawyers working for the bank won a court order requiring Yeung to pay the amount by Monday, but the sum remains outstanding.

Acting on behalf of Seymour Pierce, Neil Bennett told Sky Sports News: '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.'

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The Journalist

Writer: Foxxy Mail feedback, articles or suggestions

Date:Thursday April 15 2010

Time: 3:45PM


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