COMPANIES Lord Mandelson, business secretary, is expected to start civil proceedings to disqualify members of the “Phoenix Four”, the former owners of the Birmingham carmaker MG Rover, from being company directors following the publication today of a four-year inquiry into their running of the company.
A government-commissioned report is expected to find that the four, plus a fifth executive, legally took between them more than £40m in cash and other benefits from MG Rover while they were running the company, which collapsed in 2005 with the loss of 6,000 jobs.
