Trillion Trophy Asia revealed

Birmingham International Holdings Limited revealed yesterday in a filing with the Hong Kong Stock Exchange that the potential bidder to take over the group is Trillion Trophy Asia Limited.
In spite of failing to provide information about the potential bidder, the filing explains that Trillion Trophy Asia Limited is the lender of the HK$153 million funding commitment that Birmingham International signed for in May. This agreement was reached in order to enable Birmingham City Football Club, the English football team controlled by Birmingham International, to obtain banking facilities in the United Kingdom.
During the same month, the companies have also entered into a formal loan agreement, whereby the lender (also Trillion Trophy Asia) has granted a facility of HK$13.5 million at an 8 per cent interest rate per annum. The loan agreement was granted because of the ‘imminent working capital requirements’ of the company and its subsidiaries.
Birmingham International Holdings Limited has been in receivership since February due to internal disputes that made it impossible for the group to be managed. However, the problems started at the beginning of 2014 when former Chairman and Executive Director Carson Yeung Ka Si was convicted on five counts of money laundering and sentenced to six years imprisonment. As the fight for power unfolded inside the company the trading in shares of the group was halted in December and in February receivers were called in to try to manage the group.
J.S.F.