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Phoenix pays back some of Rover's millions

The company owned by the ex-bosses of MG Rover has paid back some of the millions of pounds taken out of the car maker.

The BBC reports that Phoenix Venture Holdings, the firm owned by the so-called "Phoenix Four", paid £3m to the liquidator almost five years after the firm's collapse.

It is understood it agreed an out-of-court settlement after investigations by inspectors and liquidators.

The Longbridge-based firm collapsed in 2005, with the loss of 6,000 jobs.

 

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