LONDON — Accountants Deloitte will return next week before a tribunal assessing whether the firm failed to manage conflicts of interest in its advice to MG Rover Group and the "Phoenix Four" directors who bought the UK car manufacturer before it collapsed.MG Rover was put into administration in 2005 with debts of £1.4bn and the loss of 6,000 jobs. Four of its directors had set up Phoenix five years earlier to buy the company for a token £10.There was public anger when it emerged that the four had paid themselves £40m in salaries and pensions before MG Rover collapsed. The four faced no criminal charges, but they were disqualified from being directors of any company for up to six years.The Financial Reporting Council (FRC), which regulates accountants, said last year that Deloitte and an employee, Maghsoud Einollahi, had failed to manage conflicts of interest properly.Deloitte and Mr Einollahi had acted as corporate finance advisors to companies involved with MG Rover and the Phoenix...
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