T&G and Amicus ask former Rover FD to vet MG Rover accounts

At the invitation of Phoenix Venture Holdings, unions TGWU and Amicus have jointly apponted Peter Regnier, a former finance director of Rover Group in the pre-BMW ownership 1980s, to inspect Phoenix Venture Holdings and MG Rover accounts on their behalf.

The unions' concerns about the financial structure of Phoenix and MG Rover and associated operations followed a series of reports in the Daily Telegraph detailing the establishment of a £12.9 million trust fund for Phoenix directors' pensions, and the issue of a £10 million loan note.