Carillion

The Financial Conduct Authority has reduced its fine on former Carillion chief executive Richard Howson after he withdrew his challenge to the punishment imposed for misleading statements he made before the company’s collapse. Construction News this morning revealed that Howson had abandoned his legal bid to overturn the interim punishment…

Former Carillion chief executive Richard Howson has withdrawn his court challenge to the punishment handed to him by the Financial Conduct Authority (FCA) over breaches of financial rules. Howson’s case challenging the FCA’s findings, which were behind a provisional fine of almost £400,000, was originally listed to be heard today…

The Financial Conduct Authority (FCA) has reduced the fines for two former Carillion finance directors over their part in misleading statements being issued by the firm. Richard Adam and Zafar Khan were both aware of serious financial troubles in Carillion’s UK construction business but failed to reflect this in company…

Sixty Carillion companies are unable to pay unsecured creditors a penny, a “stark” report has revealed – more than seven years after the construction giant collapsed. Accountancy firm PwC, appointed as a special manager to help liquidators wind up the tier one contractor, today published an anticipated distribution schedule that…

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…