LDV, the troubled Birmingham vanmaker, expects a local court to suspend administration proceedings as hopes grow that it can be rescued by Weststar, a little-known company with ties to the Malaysian government and military.
The judge requested further information on the takeover deal, which the UK government is supporting with a £5m four-week bridging loan. The move to put the company into administration is expected to be cancelled in a couple of days, following LDV’s request to this effect on Wednesday, giving Weststar time to complete due diligence on LDV.
