Generous former MG Rover workers donate trust fund cash to charity (From Bromsgrove Advertiser)

Generous former MG Rover workers donate trust fund cash to charity

12:10pm Monday 4th February 2013 in News

KIND-hearted former MG Rover workers, who fought a seven year battle for a four figure payout, have donated more than £23,000 left in trust fund coffers to charity.

When the company collapsed in 2005, its directors promised to set up a trust fund putting in what would amount to thousands of pounds for each of the workers who lost their jobs.

But last year it emerged HBOS had withdrawn £12.5 million from the money earmarked for ex-workers, leaving around £23,000 in trust fund coffers.

John Towers, Peter Beale, John Edwards and Nick Stephenson, the four executives of PVH, dubbed the “Phoenix Four”, bought the firm for £10 in 2000, paying themselves £40m in pay and pensions.

A final plea to the former owners for personal contributions to be made to the fund was rejected, leading to the decision to wind up the trust fund.

As they were in line for a tiny payout of just £3 each, the generous workers decided that the remaining money should be donated to charity.

The workers agreed to give the money to Acorns Children’s Hospice, which will pay for 31 days of care for terminally-ill children.

Ollie Thomas, of the Justice For Rover Workers campaign, said: “I think it is a nice selfless gesture, contrary to the greed of the ex-owners.

“Thanks to everyone who has made this happen.”

The hospice’s chief executive, David Strudley, said: “We appreciate this has been a long and ultimately disappointing struggle for former Longbridge workers.

“This is an extremely generous and hugely appreciated gesture.

“The £23,352 will go directly toward providing vital care and support to local life-limited and life-threatened children and their families.”

The donation was praised on the Justice For Rover Workers facebook site.

Gary Bushell said: “At least the common working person at MG Rover knows have to be like a caring human.”

Richard Millward added: “Great news, at least a deserving cause got a little something out of the whole farce.”