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Rover collapse probe sought.

CALLS for a full investigation into the collapse of MG Rover were growing today after an initial review of accounts suggested inquiries had raised 'a number of questions.'

The Financial Reporting Council did not detail its findings, but said it had passed its report to the Department of Trade and Industry for further consideration. It said the review by its financial reporting panel had raised "a number of questions relating to the affair of MG Rover and its associated companies which the (panel) believes may be relevant for the DTI to consider."

Trade and Industry Secretary Alan Johnson will decide on any action.

There was also bad news for companies owed money by the car giant with newspaper reports suggesting they were likely to get a maximum of 5p in the pounds 1

Administrators have received claims for more than pounds 1.37 billion - it has also emerged Rover was losing pounds 25 million a month before its collapse.

And the Rover pension fund is owed an estimated pounds 325million.
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Title Annotation:Business
Publication:Coventry Evening Telegraph (England)
Date:May 27, 2005
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