MG Rover creditors may recover just 1 pct -source


LONDON, May 27 (Reuters) - Creditors of bankrupt UK car firm MG Rover may struggle to get one percent of the 1.4 billion pounds ($2.56 billion) they are owed, a source close to the situation told Reuters. MG Rover's administrators PwC sent letters this week to more than 8,000 creditors, including staff laid off after the carmaker filed for bankruptcy at the beginning of April. Creditor claims total 1.4 billion pounds compared to assets worth 80.5 million pounds after sales to preferred ...

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