£14.8m MG Rover probe still unresolved
Investigation into the collapse of car manufacturing giant is still dragging after four years
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.