The four owners of Phoenix Venture Holdings, the holding company of MG Rover until its collapse last year, were expected to file their long-overdue accounts on Wednesday, according to the Financial Times.

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The individuals have been threatened with prosecution if they do not file their accounts by next week.


However, the newspaper reports that company auditors Deloitte are still working on the figures, and that a last minute problem could delay the accounts further.


The accounts will detail how much John Towers, Nick Stephenson, John Edwards and Peter Beale paid themselves in the year before the company’s collapse.


The four have attracted criticism for sharing out around GBP40m despite the fact that the company was loss-making. They had paid GBP10 to purchase Rover from BMW in 2000.

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