Interesting thought. I would have thought that the land would have been vested in the business and therefore would comprise part of the assets of the company and which the new majority owner now effectively controls.
Normally, the land would be in a seperately owned company so that if MMC went bust, the creditors wouldnt get the land. Plus in the MMC location the sensible thing for the family to do would be to sell the busiess operation, goodwill etc but retain the land with a view to housing development long term. Move car production into an industrial estate somewhere with a sensible layout.
