Carillion

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,…

More than 140 former Carillion staff have had their plea for compensation rejected at an Employment Appeal Tribunal. The workers all lost their jobs when the £5.3bn-turnover contractor plunged into compulsory liquidation in January 2018, shocking the construction industry and tearing chunks of financial buffer out of the sector. Represented…

Three former Carillion directors are set to be fined nearly £900,000 for “recklessly” publishing misleading accounts. The contractor’s former chief executive, Richard Howson, is set to be landed with a £397,800 fine, while chief financial officer Richard Adam faces a fine of £318,000. The Financial Conduct Authority (FCA) said it…

A hospital in the Midlands that was being worked on by Carillion before it collapsed has suffered further delays to its opening date and will now be six years late. The Midland Metropolitan Hospital, which Balfour Beatty took on in 2019, following Carillion’s collapse, requires a new façade to meet…

The UK’s 13 biggest private contractors will be subject to compulsory audits if new regulations are approved. Wates, Laing O’Rourke, Mace and ISG are among the 13 privately-owned contractors that will have to appoint auditors under the proposed legislation. Private firms in the UK have never had to submit audits…

Kier has been criticised by local councillors for quoting ‘unaffordable’ prices for simple roadworks in Suffolk. The firm is contracted to maintain highways for Suffolk County Council, but has been criticised by opposition councillors for the cost of its work. The firm’s 10-year contract is due to end in October…

KPMG is set to be fined £14.4m for forging documents and misleading regulators in the run-up to the collapse of contractor Carillion. The Financial Reporting Council (FRC), the body that oversees accounting firms such as KPMG, has reached a settlement agreement at a tribunal over the case, which was undertaken…