Phoenix Four disqualified as directors

[g3org3y]

http://www.bbc.co.uk/news/uk-england-birmingham-13...

Given the amount of cash they managed to make out of the whole situation, I doubt whether they care.

[maser_spyder]

How long has it taken them to work this out?

Rover was dead, buried and gone years ago!

[EDLT]

Well they've only agreed to a voluntary ban because they have something else lined up. Consulting or working abroad probably, poor things.

[Fittster]

They get to keep the £40 million.

[fido]

Scapegoats.

[dumbfunk]

Smashing fellows I'm sure.

www.just-auto.com said:

... Some of the numbers tell a story. GBP42m is the amount taken out by 5 people. GBP40m is the amount 5,000 Longbridge workers received in redundancy.

[fido]

Here's another figure .. £16m was the cost of the inquiry. Another expensive blame diversion exercise by Winky & Co.

[MarkRSi]

I'm sure Winky/Nulab/Bliar are s etc etc but should MG/Rover have been dependant on government support??

[thehawk]

EDLT said:

Well they've only agreed to a voluntary ban because they have something else lined up. Consulting or working abroad probably, poor things.

Voluntary bans are pretty common and the length of 3 years is usually for the least serious cases. I personally know someone that was banned as a director for 3 years because of a couple of years of getting behind in company tax returns and then spending the money instead of paying HMRC, causing the company to wind up eventually - all for about 20K pounds. So their punishment is a minor tap on the wrist, if that.

[Mr Sparkle]

I wonder what the break down of costs is for that £16M inquiry.

[Fittster]

anonymous said:

[redacted]

£150 million. I can think of other areas/industries who got rather more support.

Before I give the impression I'm in favour of government support, I'm not. The state shouldn't try to do the markets job.

http://www.dailymail.co.uk/news/article-345042/Bla...

[johnfm]

Well, it is a bit churlish to condemn five blokes for legally filling their boots - when 99% of people would do the same thing if presented with the opportunity.

I assume if what they did was that bad, some disgruntled ex-MG workers would have paid them a visit by now.

[thinfourth2]

Mr Sparkle said:

I wonder what the break down of costs is for that £16M inquiry.

£100K printing costs

£15.9M to friendly lawyers?