Wragge Lawrence Graham & Co

UK 200 2014 position: 28

Deloitte granted partial permission to appeal MG Rover tribunal decision

On 20 November 2013, the FRC announced that it has granted Deloitte partial permission to appeal the decision of the independent Disciplinary Tribunal relating MG Rover Group.

In its report issued in September 2013, the tribunal found that Deloitte and its former corporate finance partner, Maghsoud Einollahi, had failed to adequately consider the public interest when advising MG Rover Group and its owners (the Phoenix Four) on two transactions, known as ‘Project Aircraft’ and ‘Project Platinum’, in the period 2001–02.

It also found that they had that they had failed to identify and consider actual or potential conflicts of interest between the Phoenix Four and MG Rover and had failed to consider or safeguard against a self-interest threat in accepting a contingent fee for the engagements…

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