The four former directors of Phoenix Venture Holdings Limited and MG Rover Group Limited, also known as The Phoenix Four, have each undertaken not to act in the management of limited companies for varying periods, of between three and six years.
The Government has started proceedings against the four men who made £42m from the collapse of MG Rover. Lord Mandelson said lawyers had started to compile evidence to bring proceedings against the so-called the Phoenix Four to prevent them holding office again.
David Hughes sums up his entrepreneurial career to date thus: four spectacular successes and two failures. He founded the sports retailer Allsports and achieved turnover of £180 million before a vicious price war meant decline, administration in 2005 and a sell-off to rival JD Sports.