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Creditors failing to claim £40m MG Rover cash - Just British
Many trade creditors hit in the pocket by the collapse of Longbridge are missing out on a £40 million-plus nest egg – more than four years on from the demise of MG Rover. An unspecified number of potential claims from the UK and overseas – worth nearly half a billion pounds – have not materialized since the Birmingham car firm closed in April 2005, it was revealed yesterday. Administrators Pricewaterhouse-Coopers disclosed in the latest Joint Liquidators Report that up to £464 million of further claims could still be admitted despite the increasing time gap. With two dividends amounting to a total of 6p in the pound already paid to approved claimants some creditors are forgoing sums of many thousands of pounds. MG Rover administrator Rob Hunt said: “If you look at our receipts and payments, we are still sitting on [...]