BIHLBotswana Insurance Holdings Ltd.
BIHLBoustead International Heaters Ltd. (UK)
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For her part, chairperson of BIHL Ms Batsho Dambe-Groth said the trading environment continued to be characterised by squeezed liquidity, rising unemployment and none growing incomes.
Blues director Panos Pavlakis has been a key figure in the saga as the link man between Hong Kong and St Andrew's for the Receivers, BIHL and TTA, who have provided significant capital investment since coming on to the scene.
In an open letter to supporters on Birmingham's official club website,, Pavlakis said: "As you all probably know by now, an announcement has been made to HKEX this morning on behalf of BIHL which has direct impact to our Birmingham City Football Club.
The appointment of the receivers by the court on February 16, 2015, does not imply any insolvency of BIHL nor its subsidiary Birmingham City Football Club.
BIHL has blamed "fractious and inharmonious relations with the management" for the decision, adding that it has appointed three receivers from Ernst and Young.
The move is aimed at taking on Peter Pannu (above), who has been at loggerheads with other directors in the scrap for control of BIHL in recent months.
No winding-up petition has been filed against BIHL and it is not in liquidation.
The receivers will now manage the day-to-day activities of BIHL and take control of the club's finances.
There have been three new substantial investments into BIHL, all from mainland China, and none of the investors are believed to have got involved for football reasons.
Before joining American Medical Systems, Bihl was CEO of Siemens Medical Solutions' Diagnostic division, which reported $98.6 million in worldwide revenue in the first quarter of its 2008 fiscal year.
The Botswana I.G.I was delisted early this year and BIHL should become an attractive investment, albeit because it is in a monopoly situation.