John Towers (businessman) Industry Corporation (SAIC). Towers was heavily criticised for his role in the company's demise, and the Phoenix Consortium's conduct relating to Rover Group was initially referred to the Serious Fraud Office (SFO), although after initial investigations the SFO concluded that no further action would be taken. Following publication of a government report into the failure of MG Rover, Towers - along with the other directors of Phoenix - have been disqualified from holding any company office in the United Kingdom or have undertaken not to do so. Towers, together with the other members of PVH, ran MG Rover into the
Phoenix Venture Holdings further accused Mr Beale of giving "untruthful" evidence during interviews. In return the Directors have accused the findings of being a whitewash and a witchunt, and it remains unknown the exact details of the actions of key Government Ministers at the time of the collapse. Conservative business spokesman Kenneth Clarke said it was right the report criticised the Phoenix Four, whose behaviour was "disgraceful". Lord Mandelson said the Phoenix group had not shown an "ounce of humility" about the firm's demise and they owed an apology to the firm's employees and creditors. However his comments that steps will be taken