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Proceeding contribution from Brian Jenkins (Labour) in the House of Commons on Tuesday, 14 June 2005. It occurred during Adjournment debate on MG Rover.


MG Rover

My difficulty is that I can remember the events unfolding. As far as I recollect, until the time when the Chinese walked out of the room, the bridging loan was in place; the condition of the bridging loan was that the Chinese should sign the agreement. However, it was not just another loan; it was not just more money being pumped into the company. If I believed for a moment that a company whose directors knew it to be insolvent was apparently being given the backing of the Government, with an extra loan, to continue hoodwinking all its suppliers and its workers, I would be seriously concerned. Apparently, they are damned if they do and damned if they do not. Which is it?


Secondary information

Type
Proceeding contribution
Reference
435 c40WH 
Session
2005-06
Chamber / Committee
Westminster Hall
Subjects
Insolvency Government assistance Rover Group Phoenix Consortium Shanghai Automotive Industry Corporation
Link
View this Proceeding contribution on www.publications.parliament.uk