The UKs Pension Protection Fund (PPF) is preparing to take on pension schemes linked to UK construction company Carillion, which entered liquidation this morning. The companys management were in talks with lenders and stakeholders over the weekend in a bid to save the company, but these failed. Carillion had a combined debt of more than…
Related Articles LONDON: Britains Carillion collapsed on Monday after its banks lost faith in the construction and services company, throwing hundreds of major projects into doubt and forcing the government to step in to guarantee vital public services.Carillion was forced into compulsory liquidation after costly contract delays and a slump in new business left it…
Construction giant Carillion has said it has no choice but to take steps to enter into compulsory liquidation with immediate effect after talks failed to find another way to deal with the companys debts. A number of projects in Scotland could be affected by the news, with the platform extension at Edinburgh Waverley and a…
CONSTRUCTION giant Carillion has become the latest company to go into liquidation leaving employees out of a job. The company, which is involved in major projects like the HS2 rail line as well schools and prisons, has been crippled by debts and 20,000 jobs are now at risk. PA:Press Association What does going into administration…
Construction company involved in government projects including HS2 collapses as last-ditch talks with lenders fail Carillion has gone into liquidation. Photograph: Tolga Akmen/AFP/Getty Images The construction firm Carillion, which is involved in a host of major government projects such as HS2 as well as vital public services including school dinners, has gone into compulsory liquidation,…
Carillion, one of the UK’s largest construction companies, now faces being wound up. Its collapse through an application for compulsory liquidation means the company will eventually be dissolved, with creditors sharing any money from the sale of its assets. The decision to effectively declare itself bust leaves 43,000 jobs worldwide hanging in the balance though…
About $100 million appears to have disappeared from Plutus Payroll, the company at the centre Australia’s largest tax fraud case, according to a first report from liquidators who are now investigating tens of millions of dollars pumped out of the company to related entities and offshore in the past 12 months. In his first report…
AUSTRALIAN luxury goods brand Oroton (ASX: ORL) has warned landlords that if rent is not slashed then more stores will close. Landlords will have to cut Oroton rents by up to 40 per cent within the next few days or the national retailer will shut down stores. This latest development in the…
PERTH restaurateur Scott Taylors company owes at least $3.5 million to creditors. Mr Taylor and his sister Angie Lee Taylor are co-directors of Element WA, the company which ran The Trustee, Beaufort Local and Enriques School for Bullfighting. Element WA was placed in voluntary administration on October 30. Just weeks later, the brother and sister…
NCLT reserves order on SBIs insolvency proceedings against the infrastructure firm IVRCL Limited, once one of the fastest growing infrastructure companies, and which ruled the sector for nearly two decades, today faces an uphill task to get back its mojo, bogged down as it is by piles of debt. The latest move to bring the…