VW or Porsche buying MG

[tinman]

Ok, my first VW buying Rover thread was just hypothetical, but a bit of surfing around and it appears it wasnt so far off the mark as i first thought.

It appears that both Porsche and VW may of thrown their hats into the ring to buy MG.

The plan (how true this is I dont know) is that Porsche want to build a high quality entry level sports car for the US market and MG fits the bill for them and already has the TF as a starting place (can you imagine a Porsche engined TF built to German standards or Porsche money bringing the MG GT Coupe online), and VAG have spare capacity in Crewe and are looking to do something, possibly with the TF again to start with.

Funny old world.

[jte]

Who owns the rights to the MG brand at the moment?  The administrators?

[mrwotto]

Probably will belong to the administrators at the moment, as it is an assett that they could sell to pay off the Companies debts

[tinman]

Assets belong to the company.

The role of the administrators is to decide what to do with the company to pay the creditors. There is a chance that the company is not insolvant but just has no money to cover more than its immediate liabilities. Technically its broke but not bankrupt. I think this is more feasible because if you are bankrupt the directors become personally liable and with a hot potato like MGR - you aint going to leave yourself in the firing line.

If the adminstrators decide to wind the company up, sell off all the assets that they can get money for, anything they cannot sell will become the property of the Official Reciever. Should the Reciever be in a position later down the line to sell something, then they will pass the money to the creditors.