A trust fund to support former workers at the MG Rover plant has been legally set up.
However, no funds are available for distribution as assets of the company cannot be transferred to the trust until a Government inquiry into the car manufacturer's collapse is completed.
The directors of Phoenix Venture Holdings have pledged to transfer the company's assets to the trust once all of the creditors have been paid off.
The Longbridge Trust trustees have pledged there will be no means- testing for ex-workers.
A joint statement from the trustees said: "We will work voluntarily and independently to ensure that every penny the trust received is given to those who need it.
"We are constantly mindful that behind the statistics and economies are real people who are suffering at this time through the financial hardship they face."