Former MG Rover Workers Could Be In Line For Cash Windfall - Just British
Former MG Rover workers living in Bromsgrove could be in line for cash left on the books of a car-leasing business linked to the collapsed company. According to the Daily Telegraph, Business Secretary Peter Mandelson is being urged to take control of a £22m dowry left on the books of the defunct MG Rover business, and distribute it among thousands of former car workers. The paper reported, on August 30, that the cash had come from a car-leasing business linked to the collapsed company called MGR Capital, which was co-owned by state-controlled bank HBOS and some of the original MG Rover directors. MGR Capital was wound up last year, with £22m in cash remaining on its books. The Telegraph said it had been expected that the money be divided between former shareholders, HBOS and two former MG Rover directors, Peter [...]