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This independent report on what went wrong has taken more than four years to complete and has cost the taxpayer about 16 million pounds. Sixteen million pounds to write a report!
These executives have received around some nine million pounds each.
We are informed that The Serious Fraud Office in the United Kingdom does not intend to launch a criminal investigation into the collapse of the company, which saw about 6,500 people lose their jobs.
Five men pocketed a lot of money and six thousand lose their jobs.
This is not fiction. This has happened in 2009 in the United Kingdom.
Having been quizzed as part of the probe, the Phoenix Four are understood to have seen the report, but have signed secrecy clauses in a bid to prevent public leaks.
The four took control of the car company MG Rover in May 2000, after buying it from previous owner BMW for a nominal £10; yes ten pounds. They were apparently able to beat off an approach from venture capitalists Alchemy Partners. They also gained an interest-free loan of £427m from the German carmaker.
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