Bankers takes control of Birmingham over unpaid £2.2m fee to Carson Yeung's advisers

15 April 2010 09:39
Birmingham City have effectively fallen under the control of investment bank Seymour Pierce because of a disputed £2.2million bill, according to reports.[LNB]The bank run by Keith Harris won a High Court judgement against Blues' owner Carson Yeung's Grandtop investment company last month, when City announced their intention to appeal.[LNB] Super season: Christian Benitez (left) has been a highlight for Birmingham[LNB]Seymour Pierce claimed Yeung had agreed to pay them a £2.2m success fee when the Hong Kong businessman took advice on buying Birmingham in 2007.[LNB]Although Yeung later appointed other advisers and did not use Seymour Pierce for the takeover, the bank successfully argued it was still entitled to the fee.[LNB] New dawn: Yeung and his associates celebrate taking over at Birmingham last October[LNB]On Wednesday, lawyers working for Seymour Pierce obtained a charge over shares in Birmingham which prevented the club from paying a dividend or selling shares, reports the Daily Telegraph. Birmingham City are yet to comment.[LNB]Harris is often seen as the man to go to when buying clubs and is currently heading the high-profile 'Red Knights' bid to buy Manchester United.[LNB] McLeish predicts Hart-ache at Man City if loan star returns to EastlandsMichel cleared to play for Birmingham as red card is chalked off by FAPICTURE SPECIAL: Rooney, Gerrard and 40 other top stars draw for charity BIRMINGHAM CITY FC

Source: Daily_Mail