Deloitte in MG Rover Trust fund row | AccountingWEB

Deloitte in MG Rover Trust fund row

Deloitte has been accused of failing to manage conflicts of interest in its advice to the Longbridge car maker and the Phoenix Four directors.

Accountants at Big Four firm Deloitte are to face renewed accusations of helping the Phoenix Four siphon off £7.7m from ill-fated MG Rover into an offshore trust, the Birmingham Mail reported.

Deloitte will return before a long awaited tribunal which is assessing whether it failed to manage conflicts of interest in its advice to MG Rover and the four directors, John Towers, Nick Stephenson, Peter Beale and John Edwards.

MG Rover collapsed in 2005 with debts of...


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memyself-eye's picture

Shocking....    1 thanks

memyself-eye | | Permalink

John Moulton a 'capitalist asset stripper' (so we were told) was prevented from acquiring MG Rover because the then labour government favoured a 'management led' buyout by the four crooks that gained control of the company. We know what happened. Moulton would have developed the company into one that MGR should have been, a specialist sports car manufacturer keeping the MG brand alive. No one involved in this debacle comes out well- Deloittes included. As a Brummie owner of an MG my blood boils over this......