MG Rover asset 'sold by mistake'

Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

Guest replied

19 June 2005, 16:31
Sounds like another bunch who should be retraining as shelf stackers...
Leave a comment:
Guest started a topic MG Rover asset 'sold by mistake'

19 June 2005, 15:55
MG Rover asset 'sold by mistake'

MG Rover asset 'sold by mistake'

The MG TF model is the subject of press speculation
Administrators for MG Rover have declined to comment on reports that the car maker has sold one of its key assets - the MG TF sports car.

Rover mistakenly transferred the rights to the car when it sold China's SAIC the rights to the Rover 25 and 75 last year, a Financial Times report claimed.

Receiver PricewaterhouseCoopers is currently investigating the legality of the £67m deal for the two Rover models.

The news comes ahead of Wednesday's deadline for offers for parts of Rover.

Assets sale

PwC set the 22 June deadline for selected applicants to submit their final offers for parts of the business - which is thought to include the sale of the intellectual property rights to the TF brand.

However, the FT report said that details of the transfer of the brand had been listed at the UK Patents Office register.

The FT added that a Patent's Office spokesman said any attempt to reverse the situation would require the permission of SAIC as legal owners.

PwC refused to comment on the report, while MG Rover was unavailable for comment.

However, a source close to the situation denied the brand had been sold, saying the only uncertainty surrounding the MG TF surrounded the rights to a small part of the car's engine.

---

And Rover had about 10 or more legal firms to advise it!
Tags: None