Report on the Affairs of Phoenix Venture Holdings Limited, Mg Rover Group Limited and 33 Other Companies: Volumes I and II

 
9780115155239: Report on the Affairs of Phoenix Venture Holdings Limited, Mg Rover Group Limited and 33 Other Companies: Volumes I and II

MG Rover Group Limited (MGRG) went into administration on 8 April, 2005. On 31 May, 2005, inspectors were appointed by the then Department for Trade and Industry (now the Department for Business Innovation & Skills - BIS) to investigate the affairs of: Phoenix Venture Holdings (MGRG's ultimate parent company); MGRG; 32 other companies in the Group; and MGR Capital Limited. This is the report of that inquiry, which addresses the period between the acquisition of MGRG by Techtronic Limited in 2000 and MGRG's entry into administration in 2005. It pays particular reference to the events leading up to the appointment of administrators of MGRG in April 2005 and the matters raised in a review of financial statements by the Financial Reporting Review Council. This report has been informed by documentary and computer evidence from numerous sources, including data from the Group's Longbridge site and national sales companies. Ninety-five individuals were interviewed formally and 20 witness statements provided; all of these responses have been considered in this report.

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