REPORT ON THE AFFAIRS OF PHOENIX VENTURE HOLDINGS LIMITED, MG ROVER GROUP LIMITED AND 33 OTHER COMPANIES VOLUME I Gervase MacGregor FCA Guy Newey QC (Inspectors appointed by the Secretary of State for Trade and Industry under section 432(2) of the Companies Act 1985) Report on the affairs of Phoenix Venture Holdings Limited, MG Rover Group Limited and 33 other companies by Gervase MacGregor FCA and Guy Newey QC (Inspectors appointed by the Secretary of State for Trade and Industry under section 432(2) of the Companies Act 1985) Volume I Published by TSO (The Stationery Office) and available from: Online www.tsoshop.co.uk Mail, Telephone, Fax & E-mail TSO PO Box 29, Norwich, NR3 1GN Telephone orders/General enquiries: 0870 600 5522 Fax orders: 0870 600 5533 E-mail:
[email protected] Textphone 0870 240 3701 TSO@Blackwell and other Accredited Agents Customers can also order publications from: TSO Ireland 16 Arthur Street, Belfast BT1 4GD Tel 028 9023 8451 Fax 028 9023 5401 Published with the permission of the Department for Business Innovation and Skills on behalf of the Controller of Her Majesty’s Stationery Office. © Crown Copyright 2009 All rights reserved. Copyright in the typographical arrangement and design is vested in the Crown. Applications for reproduction should be made in writing to the Office of Public Sector Information, Information Policy Team, Kew, Richmond, Surrey, TW9 4DU. First published 2009 ISBN 9780 115155239 Printed in the United Kingdom by the Stationery Office N6187351 C3 07/09 Contents Chapter Page VOLUME