John Towers (businessman) Nick Stephenson and John Edwards, Towers formed Phoenix Venture Holdings (PVH) which bought Rover Group for £10 in April 2000. In addition they also bought the Studley Castle, a conference hotel. They subsequently purchased Midland Powertrain, MG Rover's engine plant from BMW for £20. Finally, for £50 along with an undisclosed sum from the Royal Bank of Scotland, they purchased Rover Capital, (now MG Rover Capital) a book of Rover car loans. Kevin Howe was appointed MG Rover's Managing Director in July 2000. In April 2005, MG Rover went into administration, following the collapse of takeover talks with Shanghai Automotive
John Stephenson (judge) them, not only by proceedings for defamation against them but by threats and blackmail". In 1951, Stephenson married Rose Asquith, the younger daughter of Lord Asquith of Bishopstone, a Law Lord, and they had two sons and two daughters, Mary (1952), David Guy (1954), Laura Jane (1958) and Daniel Paul Stephenson (1960). At the time of his death in 1998 his address was given in "Who's Who" as 26 Doneraile Street, London SW6, and he was a member of the Hurlingham Club, the Marylebone Cricket Club, and the Royal Wimbledon Golf Club. John Stephenson (judge) Sir John Frederick Eustace Stephenson