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Phoenix Venture Holdings

Volume 468: debated on Monday 3 December 2007

To ask the Secretary of State for Business, Enterprise and Regulatory Reform when he expects to receive the report of the inspectors appointed by Ministers under section 432 of the Companies Act 1985 to investigate and report on the affairs of Phoenix Venture Holdings Ltd, MG Rover Limited and related companies; what progress has been made with the inquiry; and if he will make a statement. (169519)

[holding answer 29 November 2007]: The investigation is ongoing. The inspectors, who are independent of BERR, are seeking to complete the report as quickly as possible, with due regard for the fairness of the process and the thoroughness of the task. It would not otherwise be appropriate to comment on the details of a current investigation or to speculate on when it might be completed.