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Football League assured Birmingham in no immediate financial danger

Football News | Article posted on February 27th, 2015

The Football League has received assurances Birmingham are in no immediate financial danger.
The club’s parent company, Birmingham International Holdings Limited, appointed receivers this month to try to end the infighting amongst board members. They appointed Ernst and Young Transactions Limited to manage the company day-to-day and no winding up petition was filed against the BIHL and it is not in liquidation.
The BIHL board, based in Hong Kong, wanted Ernst and Young to run the company without any “obstruction and distraction” against a background of internal politics.
The Football League confirmed at the time it wanted to meet with the receivers and it has now spoken to them and the Championship club. A statement read: “The Football League can confirm that it has met with representatives of Ernst and Young, the receivers of Birmingham International Holdings Limited, the ultimate parent company of Birmingham City. Representatives of the club were also present at the meeting.
“The receivers made it clear that they do not believe that their appointment, in Hong Kong, should be considered as an ‘insolvency event’ under Football League regulations and have undertaken to work in a transparent manner with the Football League so as to enable the league’s board to consider the matter at the earliest possible opportunity.
“The Football League also received confirmation that no funding will be withdrawn from Birmingham City and that sufficient funds are available to ensure that the club can complete the 2014/15 season.”
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