MG Rover’s collapse back in 2005 is still making echo in the automotive industry nowadays. Considering the suspicious circumstance under which a profitable company end up insolvent, with a huge debt of £1.4 billion, the government required at that time a full report on the company’s failure. Now, after four long years and over £16 million spent, the report is finalized but was delayed from publication due to an official case deposition made by business secretary Lord Mandelson to the police. It seems he is trying to stop the reveal of the report in order to avoid any rumours- regarding possible implication of the present government in the MG’s misfire- to reach the poll before the elections. The Serious Fraud Office could though interfere and ban persons like Mandelson from acting as company officials if acted wrong. By the end of the week, SFO will officially announce if the criminal investigation into the bankruptcy of MG Rover is to begin.

[via autocar]

Tags: car news, mg collapse news, serious fraud office mg news, sfo mg

This entry was posted on Thursday, August 13th, 2009 at 12:11 am and is filed under 2009, 4wheels News, U.K., Year, Zone. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.