As we reported back in early July, British police were investigating the collapse of UK manufacturer MG Rover Group through their Serious Fraud Office.
However, following consultation with legal advisors, the office has decided that there are no grounds on which to initiate a criminal investigation over the sale and collapse of the group.
The SFO said it had reviewed all documents relating to the 2005 transaction and demise of the company and determined there was no further action to be taken from a legal standpoint.
MG Rover, Britain’s last mass-market independent car manufacturerr, went into administration in April 2005 with debts of almost 1.3 billion pounds and the loss of 6000 jobs. It is now owned by China’s Shanghai Automotive Industry Corp.