Birmingham are pressing ahead with their bid to be able to appeal a
High Court ruling that they must pay £2.2million to Seymour
Pierce.
The payment relates to unpaid consultancy fees investment
bank Seymour Pierce (SP) are claiming for advising new Birmingham
owner Carson Yeung when he first tried to take over the club nearly
three years ago.
They won a High Court judgement last month against Yeung's
investment company, Birmingham International Holdings (BIH), but
the fees were not paid by Monday's deadline.
It has led to speculation that City could be sold should they
fail to do so - with SP selling its assets - before the case is
heard on May 27.
But Blues are still hoping they will be allowed to contest
the judgement via appeal.
The Midlands club remain relaxed about the speculation that
Birmingham could be sold while litigation is ongoing while also
maintaining a feeling that they should not have to pay the sums
being demanded by SP.
BIH have already issued a statement insisting the ownership
of Birmingham is not under threat as a result of the legal action
taken by SP.
It read: "Birmingham International Holdings Limited
acknowledges that it has been in litigation with Seymour Pierce
disputing the payment of fees and that summary judgment had been
obtained by Seymour Pierce in relation thereto.
"Birmingham International Holdings Limited is currently
seeking leave to appeal the decision.
"Birmingham International Holdings Limited stresses that the
amount in dispute is immaterial to it and if payment is required to
be made, will not have any material adverse effect on its financial
condition or business.
"It is stressed that Birmingham International Holdings
Limited has not and will not lose control of Birmingham City
Football Club as a result of this litigation."
SP's spokesman Neil Bennett said: "This can be resolved very
quickly by Carson Yeung and his company sending their cheque (for
£2.2 million) to Seymour Pierce."
