Birmingham International Holdings (BIHL) has appointed Ernst and Young Transactions Limited to manage the company day-to-day.
However, the Sky Bet Championship club have quickly eased any fears over their future and insist they are not in financial difficulty and will fulfil their fixtures.
No winding up petition has been filed against the BIHL and it is not in liquidation.
The BIHL board, based in Hong Kong, has moved to end the internal politics by asking Ernst and Young to run the company without any "obstruction and distraction".
A club statement read: "The club wishes to reassure its supporters and staff most emphatically that no winding up petition has been filed against the company (BIHL) and that it is therefore not in liquidation.
"The subsidiary (BCFC) can fulfil its obligations as a member club of the Football League and shall continue to maintain a strong dialogue with the board of the Football League on this matter.
"With no apparent resolution to the fractious and inharmonious relations within the management, the majority on the BIHL board decided that it had no other option but to openly and voluntarily request reputable receivers to take over the management of BIHL on its behalf."
Source : PA
Source: PA