Satch
MB Enthusiast
- Joined
- Nov 24, 2003
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Rover 'sold key asset by accident'
Administrators organising the sale of MG Rover have refused to comment on claims the collapsed car giant sold one of its key assets - the MG TF sports car - to the Chinese firm SAIC by accident.
PricewaterhouseCoopers has been trying to sell the TF with the MG brand in a bidding process which gives selected applicants until next Wednesday to submit their final proposals.
The Shanghai Automotive Industry Corporation reportedly paid £67 million for the intellectual property rights to a range of Rover cars and engines last year.
The TF and SV models were not thought to have been included in this deal because there was no market for such cars in China.
According to a report in the Financial Times, the Patent Office register of designs shows ownership of the TF was transferred to SAIC in September 2004.
And the Chinese firm is said to be listed as the owner in an updated version of the register last week.
A Patent Office spokesman told the newspaper any attempt to reverse the situation would require permission from SAIC as the legal owners.
The design transfer, which the Financial Times said apparently happened by mistake, is another twist in the demise of the Birmingham-based firm which collapsed in early April.
PWC has declined to comment about the claims.
Administrators organising the sale of MG Rover have refused to comment on claims the collapsed car giant sold one of its key assets - the MG TF sports car - to the Chinese firm SAIC by accident.
PricewaterhouseCoopers has been trying to sell the TF with the MG brand in a bidding process which gives selected applicants until next Wednesday to submit their final proposals.
The Shanghai Automotive Industry Corporation reportedly paid £67 million for the intellectual property rights to a range of Rover cars and engines last year.
The TF and SV models were not thought to have been included in this deal because there was no market for such cars in China.
According to a report in the Financial Times, the Patent Office register of designs shows ownership of the TF was transferred to SAIC in September 2004.
And the Chinese firm is said to be listed as the owner in an updated version of the register last week.
A Patent Office spokesman told the newspaper any attempt to reverse the situation would require permission from SAIC as the legal owners.
The design transfer, which the Financial Times said apparently happened by mistake, is another twist in the demise of the Birmingham-based firm which collapsed in early April.
PWC has declined to comment about the claims.
