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MG Rover executives 'earned nearly £42m'

Published on 11 Sep 2009 under category: legal

An investigation into the demise of MG Rover is set to reveal that five of its senior workers earned nearly £42 million before it became insolvent.

A report out today (September 11th) is expected to show that these executives accumulated these funds through wages and pensions.

However, the study does not link the five to any fraud crimes or offences of any nature, insolvency solicitors may be interested to hear.

The report has taken four years to complete and has cost around £16 million.

A recent study by the Serious Frauds Office into the collapse of the carmaker ruled that there should not be a full-scale probe into whether any fraud crimes took place during its demise.

In other news, sportswear firms Sports Direct International and JJB are at the centre of an investigation by the SFO, after the latter alerted the Office of Fair Trading to what it claimed was a potential cartel.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.