MG Rover directors could face disqualification

Posted on August 13th, 2009 by News in Manufacturers, News

The Government is planning to bring civil proceedings to disqualify the four directors of collapsed car company MG Rover from being company directors in the future.

Following Monday’s (August 11) decision by the Serious Fraud Office that it would not pursue criminal proceedings against the so-called ‘Phoenix Four’, a Department for Business spokesman said: “The Secretary of State [Lord Mandelson] has been advised that there are good grounds to bring disqualification proceedings. These would be civil rather than criminal proceedings.”

Disqualification, which would be decided by a court, lasts for two to 15 years and bears with it a measure of disgrace in business circles.

The ‘Phoenix Four’, John Towers, Nick Stephenson, John Edwards and Peter Beale, were at the centre of a political and media storm when MR Rover collapsed in 2005 with the loss of more than 6,000 jobs.

A spokesman for the ‘Four’ said they had done nothing wrong that justified disqualification.

Source: Financial Times

Bookmark and Share



Buying A New Car? The Motor Trade Insider Guide To Buying New Cars >>>Click Here<<<




  • Disgraced MG Rover chiefs bank an extra £11m
    The five disgraced former directors of failed carmaker MG Rover are to receive an £11 million-plus payout. Their windfall will bring [...]...
  • SFO will not investigate MG Rover collapse
    The Serious Fraud Office (SFO) has said it does not intend to launch a criminal investigation into the collapse of [...]...
  • SFO to decide on MG Rover investigation
    The Serious Fraud Office (SFO) will confirm later whether it intends to launch a criminal investigation into the collapse of [...]...
  • Serious Fraud Office to investigate MG Rover collapse
    Lord Mandelson will tell Parliament today that he has asked the Serious Fraud Office (SFO) to investigate the collapse of [...]...
  • Government finally gets £16m MG Rover inquiry report
    The official report into the collapse of MG Rover four years ago has been delivered to the Government. The inquiry was [...]...
  • Probe into Rover has cost £15m (and counting)
    The government’s inquiry into the demise of the Birmingham-based carmaker MG Rover in 2005 has already cost more than £15m, [...]...

    • Leave a Reply

    Motor Industry News

    Bargain of the Week

    Bargain of the Week – Buying a Supercar – part one

    Bargain of the Week – Buying a Supercar – part one

    Nine are still in yet calling the shots on who has it when is still to be decided, and there's still one (me) who has ...

    Bargain of the Week – Mini Cooper

    Insurance wise, better to choose the Mini One, but stretch your budget ever so slightly and pick the 1.6 Cooper. Not because of the famous ...

    Bargain of the Week – Porsche Cayenne S

    Considering you can buy an equivalent 4x4 with barely any badge status, having a Cayenne on your driveway will certainly perk the interest of your ...

    Scrappage

    Scrappage scheme ends, hard work begins

    Scrappage scheme ends, hard work begins

    I think that scrappage was exactly the shot in the arm the business needed and should be acknowledged as that, it’s now back to hard ...

    Car Makers Premier League – February 2010

    With the scheme’s official end date being the 31st March we are now in the scrappage end game so it will be very interesting to ...

    Scrappage scheme enters final stage

    The final phase of the Government's scrappage scheme began yesterday (Wednesday 24th February). Car manufacturers have been allocated shares of about 50,000 potential further orders based ...