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Phoenix Four Payout "Unreasonable"
Friday 11 September 2009
The so called Phoenix Four, the consortium that attempted to save MG Rover have been heavily criticised in a report into the collapse of the company in April 2005. Although the Serious Fraud Office, which investigated the collapse, has confirmed it will not be pursuing a criminal investigation the £42m payout which was shared between the four and MG Rover's Chief Executive has been criticised as 'unreasonable'.
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