John Towers and the Phoenix 4 reply to the open letter regards them receiving a further £6million MG
In October of last year, regular visitors to the site will recall that an open letter was sent to John Towers and the Phoenix directors. This followed claims that the Phoenix 4 were set to receive another substantial payout following the closure of MG Rover, this time in the region of £6million. For those not so familiar with the story, I'll try to summarise as briefly as I can. In 2000, BMW sold MG Rover to the Phoenix 4 for £10 and as part of the sale provided a £450 millio