Co-MG Rover RSS feed for the Co-MG Rover tag
found 47 stories.
Business
Jon Griffin B'ham Mail 7 Jul 10
New Business Secretary Vince Cable has dealt a crushing blow to the hopes of thousands of ex Rover workers promised payouts by the Phoenix Four over five years ago.
The Cabinet Minister has written to the Justice for Rover Workers Group to say he cannot intervene in the dispute between the ex-Longbridge directors and banking giant HBOS…
Business
Jon Griffin B'ham Mail 3 Jul 10
Birmingham MP Richard Burden has urged the Phoenix Four to put their own cash into a fund for former Rover workers. Ex-Longbridge employees have waited more than five years for trust fund payments after the company crashed.
Now Northfield MP Mr Burden has cranked up the pressure on the four former Longbridge executives by demanding they put a “few millions” of their own into the fund…
Business
Jon Griffin B'ham Mail 5 Jun 10
More than 100 claims totalling a staggering £500 million-plus have been made against Phoenix Venture Holdings – delaying payouts of £2,500 each to former Longbridge workers.
The flood of claims from suppliers, contractors and individuals has emerged in a letter from former MG Rover chairman John Towers to Justice for Rover Workers campaigners. Mr Towers reveals in the letter that many “frivolous” claims have been brought against PVH, which has raised £12.5 million for distribution to over 6,000 ex-workers through an Employee Trust Fund…
Business
Jon Griffin B'ham Mail 5 May 10
Banking giant HBOS is to be urged to drop a £23 million claim against MG Rover Group and allow former workers to finally receive potential payments of more than £2,500 each after a five-year wait.
Jack Dromey, Deputy General Secretary of Unite, is to lobby HBOS to scrap its claim after the Mail revealed around 6,500 former car workers were set to see their hopes of payouts dashed…
Business
Jon Griffin B'ham Post 3 May 10
More than 6,000 former MG Rover workers will not receive a single penny from a Trust Fund pledged over five years ago by the Phoenix Four – if a “spurious” claim by HBOS succeeds.
Long-held hopes of potential four-figure payouts to thousands of former car workers are set to be wrecked by an 11th-hour claim by the bank, which is 43 per cent owned by the Government…
Business
B'ham Post 29 Apr 10
Former Bishop of Birmingham John Sentamu has launched a blistering attack on the Phoenix Four over continuing delays in trust fund payments to more than 6,000 former Rover workers.
The senior cleric, now Archbishop of York, has weighed in over the five-year plus wait as support intensifies for the distribution of money following the launch of the Justice for Rover Workers website…
Business
B'ham Mail 9 Apr 10
Furious ex-MG Rover workers have launched a cyberspace campaign to win payouts promised five years ago to more than 6,000 thrown on to the dole queue by the Longbridge closure.
The Justice for Rover Workers website has been set up in a major new bid to force John Towers and the Phoenix Four to finally cough up potential four-figure payments pledged to ex-workers in 2005…
Business
BBC News 31 Mar 10
Creditors and former staff of MG Rover could have to wait for another 12 months before receiving any money owed to them.
The business, based in Longbridge, Birmingham, folded in April 2005, leaving debts of more than £1bn. Up to 6,000 staff lost their jobs. Some creditors have been repaid but liquidators said their investigations into repayments had been “lengthy”. A former staff member said the wait was “totally unjust”.
Business
Alun Thorne B’ham Post 26 Feb 10
Business Secretary Lord Mandelson is on the verge of taking legal action against the ‘Phoenix Four’, who oversaw the collapse of MG Rover. But the legal action means a parliamentary investigation into the collapse has been called off. The Business Innovation and Skills select committee will now be looking into Lord Mandelson’s handling of the takeover of Cadbury by Kraft…
Automotive
Jon Griffin B’ham Mail 15 Jan 10
Longbridge could have been “sunk” as long ago as 1994 by Japanese car giant Honda, former MG Rover chairman John Towers has claimed.
In a rare interview for a new West Midland book on the car industry, Mr Towers has revealed that the Japanese firm – which held a 20 per cent stake in Rover – could have thrown a huge spanner in the works of the deal that saw BMW take over at Longbridge from British Aerospace…