KPMG has told the Carillion inquiry that it did not recognise the company’s £200m claim against a Qatari client and could not say whether Carillion owed the client money.
The cost of remedial work on cracked concrete beams on Carillion’s Royal Liverpool Hospital problem job were borne by subcontractors on the project, a letter to the Carillion inquiry has revealed.
Carillion rail contracts bought by AmeySubscription
Amey has taken on a number of key rail contracts from Carillion following the collapse of Network Rail’s second biggest supplier.
Carillion features and analysis
Q: What do you think is the worse failing in a leader?
CPA senior economist Rebecca Larkin examines the forecast fallout from the contractor’s demise.
The industry is still shaking, and will be for many months to come, following the collapse of the UK’s second-biggest contractor.
“Would you consider working in the Middle East?” I asked 8Build’s director Nigel Bellamy today.
The Carillion horror show came to town yesterday, as the company’s former bosses were grilled by MPs in an intense four-hour inquiry in Westminster.
Carillion’s former leaders have been grilled by a joint select committee of MPs. Here are some of the key revelations from the four-hour hearing.
“To be competitive, to win work, to create future cashflows, you have to win. Winning is a balance of risk and reward.”
Since Carillion’s collapse 17 days ago, precious little information has come out about what will happen next.
In his editorial last week – Beware the hungry contractor hoovering up Carillion work – CN editor Tom Fitzpatrick rightly emphasised the need for caution over contractors taking on former Carillion projects.
“I can’t help feeling all of this is after the horse has bolted,” said Rachel Reeves, chair of the business, energy and industrial strategy select committee.
As Carillion’s collapse continues to dominate headlines and thousands across the industry are left asking what will happen next, I can’t help but wonder: who is leading the way for construction in these difficult times?
Against the backdrop of Carillion, parties need to keep in mind issues of payment upon termination of a construction contract.
Carillion has continued to hog the headlines in the past seven days but debate among CN readers has broadened to look at the wider implications and what needs to change.
Write a story on retentions for Construction News and you are guaranteed a wave of comments.
The total cost and all the reasons for the collapse of Carillion won’t be truly understood for some time – but what is clear is that it’s a landmark moment for our industry.
“No contractor should be a plc.”
Letters released by the Carillion inquiry show the company and the pension trustees clashed several times about the contributions being made going back to 2010.
Carillion redundancies top 1,000Subscription
Carillion redundancies now stand at 1,141 as more contracts are transferred, following another announcement from the official reciever.
Carillion investors considered legal action Subscription
One of Carillion’s largest shareholders has said that if the contractor had not gone into liquidation on 15 January, it would have considered suing the company over its reporting of the £845m provision.
Carillion: Key background
Carillion has been handed an extra four months to prove to its lenders it will not breach its financial covenants.
Carillion’s largest shareholder has sold off half of its stake in the troubled contractor and services provider.
Carillion has issued a fresh profit warning and confirmed that it expects to breach its financial covenants at the end of next month.
Carillion has agreed to sell its UK healthcare arm to services giant Serco for £50.1m as part of the contractor’s debt reduction and restructuring plan.
Carillion interim chief executive Keith Cochrane has revealed his firm has cut £10bn from its potential project pipeline as part of a new approach to winning work.
Carillion has reported a £1.15bn half-year loss and revealed it is setting aside an extra £200m provision for problem support services contract.
Carillion has made amendments to rules that previously allowed investors to claw back bonuses awarded to the contractor’s top executives, it has emerged.
Troubled Carillion has revealed a major shake-up of its executive team, including the departure of its finance chief Zafar Khan with immediate effect.
Former Carillion chief executive Richard Howson has moved back into his previous role of chief operating officer at the troubled company, but will still leave the firm within a year.
Transport secretary Chris Grayling has defended the choice of troubled contractor Carillion as one of the firms to build phase one of HS2.
Carillion has brought in accountancy giant EY to look at cost reduction and cash collection as part of a strategic review of the troubled business.
Carillion chief executive Richard Howson has stepped down with immediate effect as the firm has said it will be “undertaking a comprehensive review of the business” following a profit warning.
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