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Ford bankruptcy claim

Ford is playing down a rating agency's claim that the company could be forced into bankruptcy with debts of £94bn in the face of slowing sales and a downturn in the world economy.

Sean Egan of the Egan-Jones ratings agency – the firm which accurately predicted the demise of WorldCom and Enron – has painted the gloomiest of pictures after analysing the blue oval's books.

Dismissing Bill Ford's recovery plan as being insufficient to turn around the company, Mr Egan says: "If it didn't have the name Ford, it would be in bankruptcy right now.”

Mr Egan says Ford's survival is dependent on investors remaining supportive.

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