Deloitte Loses Appeal Of MG Rover Conflict Ruling

Law360, New York (July 29, 2013, 1:52 PM ET) -- A U.K. regulator has affirmed a finding that Deloitte LLP failed to properly manage conflicts of interest in advising carmaker MG Rover Group Ltd., which went bankrupt in 2005, and four one-time MG Rover directors in certain transactions, it said Monday.

A Financial Reporting Council tribunal confirmed an earlier ruling faulting the conduct of Deloitte and Maghsoud Einollahi, a former partner in the company's corporate finance department, as corporate finance advisers to various companies involved with MG Rover, its parent Phoenix Ventures Holdings Ltd. and the...
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