A confidential report by MG Rover administrators PricewaterhouseCoopers is believed to have cleared directors of Phoenix Venture Holdings of wrongdoing.
The claim was made by the Financial Times yesterday following an interview with Tony Lomas, one of the PwC insolvency experts called into take over the Longbridge carmaker after its collapse in April.
Administrators have to report to the Department of Trade and Industry on whether or not evidence of wrongdoing on the part of directors has emerged.
Mr Lomas apparently would not comment on the contents of the report, which will remain secret, but the FT said it understood the administrators found nothing detrimental to report.
Mr Lomas could not be contacted yesterday, but PwC said the report, due to be delivered to the DTI in the next few days, would concentrate on the day-to-day work of the administrators.
The four PVH directors, John Towers, Nick Stephenson, John Edwards and Peter Beale, came under attack two years ago when it emerged they had set up a #13 million pension fund for themselves.
A spokesman for the four men said of yesterday?s report: ?If that is the case, obviously the directors will be pleased.
?It will be yet another of the long list of inquiries, including one by the Trade and Industry Select Committee and one on behalf of the trade unions, which have established that the directors have behaved properly throughout.?
The spokesman said the structure of the PVH group of businesses had ?mir-rored that of other large private companies?.
?The intention was to ensure that if one of the part of the business was under-performing it would not bring the other parts toppling down.?