FRC to continue hearing into failed MG Rover

The Financial Reporting Council has announced that it will continue its disciplinary tribunal hearing in the matter of the failed MG Rover Group.

The Tribunal was expected to now issue a ruling since hearings - which began in March - ran for four weeks as the Tribunal considered complaints against Deloitte, formerly advisers to the group, and Maghsoud Einollahi, a former Deloitte partner.

However the FRC announced today that the Tribunal hearing into the conduct of the advisers of the failed car manufacturer will continue on 29 July 2013.

The FRC's concerns relate to actions taken by Deloitte and Einollahi, formerly a corporate finance partner for the firm, in the run-up to the eventual collapse.

The matter includes their dealings as auditors and advisers with the so-called 'Phoenix Four', a group of former directors who bought MG Rover for a token £10 in 2000.

The tribunal will take place at the International Dispute Resolution Centre in Fleet Street.

Penny Sukhraj | Content editor, Accountancy - (up to 2016)

Penny Sukhraj, former content editor and writer for Accountancy and Accountancy Live, responsible for commissioning and editing news...

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