MG Rover has entered into a formal liquidation process, administrators said.
The creditors' voluntary liquidation is the final part of the administration process and is a technicality to allow a dividend to be paid to unsecured creditors.
The exact extent of Rover's liabilities, estimated to be £1.4 billion, will be calculated in the next few weeks and matched to the money raised by administrators PricewaterhouseCoopers.
PwC realised £53 million from selling MG Rover to Nanjing Automobile in July, but also raised several million more from the sale of stockpiled cars.
Despite this, creditors have been warned to expect only a few pennies in the pound.
Meanwhile a rally will be held at Longbridge next month to mark the first anniversary of the firm's closure and the 100th anniversary of the first car produced there. The event, which begins at 11am on April 15, will include a convoy of MGs and Rovers driving from the Hopwood Services to Cofton Park.
So far more than 150 people from around the country have signed up to take place in the Pride of Longbridge.
Gemma Cartwright, who is organising the event, said: "The idea is to bring everyone together to commemorate 100 years of manufacturing at Longbridge and what happened last year. If production restarts there we will put the flags out, but we have to wait and see."
