Former employees of MG Rover were given £3 each in compensation after taking redundancy, following the collapse of the automotive company in April 2005.
After a seven-year long battle with the former owners of MG Rover, former employees of the company have received only a small fraction of the compensation they hoped for.
The ‘Phoenix Four’ – Peter Beale, Nick Stephenson, John Towers and John Edwards – bought the company for £10 in 2000, and then paid themselves millions.
Carl Chinn, a trustee of the compensation fund expressed his hope that the aforementioned owners would cough up the money due to the workers. He hoped that he would have been able to secure the release of £11m for the 6,500 workers who lost their jobs when the company collapsed.
Mr Chinn told The Guardian that he “hoped [the Phoenix Four] will search their conscience to see if they can find the goodwill to help those who have lost so much.”
Chinn didn’t hide his skepticism over the intentions of the Phoenix Four and reiterated that he had consistently tried to get the four people to pay the disgruntled workers.