The inquiry into the collapse of carmaker MG Rover by mid-tier firm BDO Stoy
Hayward has cost the government £8m and MPs are now calling for an urgent
conclusion, according to The Times.
Guy Newey QC and Gervase MacGregor, head of the forensic accountants BDO Stoy
Hayward, were commissioned by the Department of Trade & Industry in June
2005, two months after the car-maker plunged into administration.
Richard Burden, Labour MP for Birmingham Northfield, said he would write to
Newey and MacGregor to ask when they are going to finish. He said: ‘I am all for
thoroughness and for the tortoise beating the hare, but this is becoming a
rather expensive tortoise.’
A DTI spokesman said department officials met the investigators regularly to
‘ensure momentum is maintained and that the inquiry delivers value for money’.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies