Carillion

A new voluntary code of conduct for directors has been unveiled, partially in response to the collapse of Carillion, Construction News can reveal. The code of conduct, developed by the Institute of Directors (IoD), aims to “build trust in business” after high-profile corporate failings have shaken public confidence in business…

Oxfordshire County Council has had to spend more than £13m on fixing defects in buildings once worked on by Carillion. The council found problems with dozens of schools that required remediation in the years following the company’s collapse, the BBC reported yesterday. Carillion was the UK’s second-biggest contractor by turnover…

Former Carillion chief executive Richard Howson has become president of a Florida-based energy tech company, months after being banned from directing UK companies. Howson was the chief executive of Carillion from December 2011 to July 2017 – six months before the UK’s second-largest construction company entered liquidation with £7bn of…

The Institute of Directors (IoD) is developing a new code of conduct in the wake of the collapse of Carillion and other corporate scandals. The membership body for directors flagged the findings of research by PR consultancy Edelman, which suggest that trust in UK business is lower than that of…

The Insolvency Service has dropped court action against Carillion’s former chair and interim chief executive at the 11th hour.  The defunct contractor’s chair, Philip Green, and Keith Cochrane, who was interim chief executive between July 2017 until the firm’s collapse in January 2018, were among five former non-executive directors who…

Former Carillion chief executive Richard Howson has been banned from being a director for eight years. Howson served as chief executive of the contractor - the second-biggest in the UK before it collapsed in 2018 - between December 2011 and July 2017. The Insolvency Service, which is overseeing the liquidation…

A second former Carillion boss has been banned from being a director for more than a decade after a finding that he provided false and misleading financial information. The Insolvency Service, which is overseeing Carillion’s liquidation, said it had accepted a disqualification undertaking from Richard Adam, the company’s finance director…

Carillion's former finance director, Zafar Khan, has been disqualified as a director for 11 years. According to the Insolvency Service, which is overseeing the liquidation of Carillion, Khan caused the contractor to rely on "false and misleading financial information for the preparation of consolidated financial statements for 2016". The 2016…

KPMG has settled a £1.3bn lawsuit that alleged the audit of Carillion, which it carried out before the contractor collapsed, was negligent. The accounting giant previously described the allegations as “without merit” – but has now paid an unknown sum to settle the case, which was launched by Carillion’s liquidator,…

Five years on from the collapse of Carillion, a £1.3bn legal dispute continues to rage over the audit of major long-term construction projects held by the firm. At the time of its compulsory liquidation in 2018, with liabilities of £7bn, the Birmingham-headquartered company was the second-largest contractor in the UK,…