Birmingham City FC owners enter receivership
Joint receivers from Ernst & Young Transactions Limited appointed as Birmingham International Holdings Limited enters receivership
JOINT RECEIVERS from a specialist arm of EY have been appointed to the parent company of Birmingham City Football Club after it entered receivership.
Birmingham International Holdings Limited, which owns the Championship football club, entered voluntary receivership and appointed Stephen Liu Yiu Keung, David Yen Ching Wai and Koo Chi Sum, all of Ernst & Young Transactions Limited as receivers
In a statement, the club said the majority directors on the board of BIHL deemed it necessary to take the “unusual course of action” because of the “fractious and inharmonious relations within the management”.
“The majority on the BIHL board decided that it had no other option but to openly and voluntarily request reputable receivers to take over the management of BIHL on its behalf,” the club said.
The receivers said that their appointment does not extend to Birmingham City Football Club, which continues to trade as normal and outside of any insolvency process and that will manage the day to day activities of the parent and take control of its finances, carry on the business of the company.
“The appointment of the receivers by the court on 16 February 2015 does not imply any insolvency of BIHL nor its subsidiary Birmingham City Football Club. We are working closely with the board of Birmingham City Football Club,” the receivers said.