Summary
John Towers and the rest of the Phoenix Four are set to receive almost nothing from the hundreds of millions of pounds they are owed by MG Rover.
All its creditors are likely to receive nothing if the company is broken up and sold off piecemeal, while they will only receive a 'negligible' amount if a buyer for the whole firm is found, administrators said yesterday.See the full content of this document
Extract
Phoenix Four Set to Lose Pounds 400m
PricewaterhouseCoopers warned the financial outcome looked bleak for creditors who are owed a combined pounds 1.3 billion after the end of carmaking at Longbridge.
Mr Towers and his ...See the full content of this document
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