Oral question asked in the House of Lords, by Baroness Miller of Hendon (Conservative). It was answered on Wednesday, 15 June 2005.

MG Rover

Question: My Lords, bearing it in mind that the collapse caused the loss of 6,000 jobs directly and many others indirectly and that £427 million disappeared down a black hole while the four directors received £40 million for salaries and pension rights, may I clarify whether I understand exactly what the Minister said in his reply? Will the Government, by one means or another, report on all the matters in those two reports in full and unequivocally? Will they ensure that nothing is hidden or concealed, particularly with regard to the role of the DTI in the sale of Rover to Phoenix?

Answer: In short, my Lords, yes. The FRRP report obviously looked at the question of compliance with accounting requirements under the Companies Act, and the report was submitted to the Secretary of State. I should make it clear that that report will not be published. The Secretary of State has been advised that releasing it would be prejudicial to those potentially affected by it and to the regulatory process. However, the Secretary of State has specifically requested that the report of the inspectors be delivered in a form that can be made public. The remit of the inspectors is to examine the issues raised in the FRRP report, as well as all the issues leading up to the appointment of the administrators.

Secondary information

Type: Oral question
Reference: 672 c1200-1
Session: 2005-06
Oral question type: 1st Supplementary
Chamber / Committee: House of Lords chamber
Subjects: Disclosure of information Company investigations Company accounts Directors Department of Trade and Industry Inquiries Insolvency Pay Sales Rover Group Financial Reporting Council Phoenix Consortium