Troubled tycoon Carson Yeung facing legal challenge over mortgage

Troubled tycoon Carson Yeung Ka-sing faced another court dispute yesterday when two people sued him for mortgaging his Peak house without their consent.

Yung Sau-mui and Wang Lifei claim in a writ filed with the High Court that Yeung, the owner of English football club Birmingham City, possesses only one quarter of the residence in Barker Road.

They claim that when the house was bought in 2005 - reportedly for HK$146 million - it was agreed that Yeung and Yung would each hold half the interests in the property.

And in May 2009, they agreed Wang would have half the house, with the remaining interest split between Yeung and Yung.

The duo, whose relationship with Yeung is unclear, go on to say in the court document that Yeung took out a HK$50 million mortgage on the house without their consent in November 2010.

Yung and Wang are now asking the court to declare they are part owners of the 5,946 sq ft house and order Yeung to pay them back any losses incurred by the unauthorised loan.