A verdict has been delivered today in a court case involving Reading Football Club, Dai Yongge and Rob Couhig.
Mr Justice Jacobs oversaw a court battle between Redwood Holding Ltd, owned by Couhig, and Renhe Sports Management, the company which Dai Yongge owns Reading FC.
The judge ruled that Dai’s attempts to get an injunction against Couhig were rejected and argued that the sale of the club can still continue.
Meanwhile, the court heard that Dai Yongge failed the EFL’s owners & directors test due to debts in China and that the EFL will seek to disqualify Dai Yongge on April 4.
If Dai is disqualified, then the club will have 30 days to complete a sale or will face disqualification from the English Football League.
Reading’s long ongoing takeover saga has been rumbling on for more than 500 days since Dai Yongge ‘officially’ put the club up for sale.
Former Wycombe Wanderers chairman Couhig attempted to purchase the club last year before negotiations broke down at a late stage.
Both parties are now battling each other in court after Mr Dai claimed that Mr Couhig’s refusal to release the liens on the club as ‘unlawful’ and is therefore preventing the sale of the club.
The club most recently entered a period of exclusivity with prospective buyer Robert Platek, but Dai Yongge is claiming that the club cannot be sold until this matter is settled.
Meanwhile, Couhig has alleged that the club broke exclusivity rules and is claiming more than £12m in loss of potential profits.
