Rover creditors to receive half of money owed

Irish creditors of MG Rover, the failed car manufacturer, will receive almost half the money they are owed, under a new arrangement drawn up by the firm’s administrators.

7th June, 2008

Irish creditors of MG Rover, the failed car manufacturer, will receive almost half the money they are owed, under a new arrangement drawn up by the firm’s administrators.

Accountancy firm Price waterhouse Coopers (PWC), administrator to MG Rover, has written to Irish creditors about developments since it was appointed in April 2005. The letter states that Rover Ireland, the Irish subsidiary of the British car manufacturer, has received claims totalling €5.6 million from...

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