The cost of the investigation into MG Rover’s collapse has topped more than
£14m to date, with no clear indication as to when it will be concluded.
BDO Stoy Hayward won the high-profile job in 2005, but the case has dragged
on, to the frustration of MPs,
BDO partner Gervase MacGregor, has been spearheading the probe alongside Guy
Newey QC, an insolvency law specialist.
Fees paid to the inspectors by the end of February totalled £12.2m, with
expenses and VAT taking the total bill to £14.8m.
Peter Luff, Conservative chair of the business select committee, told the FT:
‘Every penny spent on this long-drawn-out inquiry is money that would much
better have been spent developing green technology for Britain’s motor
manufacturers,’ he said.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
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