U.K. suppliers to Carillion Plc are desperately trying to figure out the impact of its failure on a vast network of businesses that had contracts with the indebted construction services company, according to the head of an industry lobby. “Carillion outsourced everything, said Rudi Klein, chief executive officer of the Specialist Engineering Contractors Group, whose members include…
DetailsThe 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…
DetailsRelated 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…
DetailsMNP Consumer Debt Index – January 2018 Canadians are increasingly pessimistic about their ability to absorb higher interest rates and cover their monthly bills. MNP LTD One in three Canadians say they are unable to cover their monthly bills, up eight points since September. Half are more concerned about their ability to repay debts, up…
DetailsConstruction 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…
DetailsKey questions answered on the liquidation of the construction firm and its implications for staff Carillion employs 43,000 people, including almost 20,000 in the UK. Photograph: Christopher Thomond for the Guardian The construction firm Carillion, which is involved in a host of major government projects including HS2, has gone into compulsory liquidation. What went wrong…
DetailsOne in three Canadians say they are unable to cover their monthly bills, up eight points since September. Half are more concerned about their ability to repay debts, up three points since September. Average Canadian left with $112 less at the end of the month compared to last quarter. CALGARY, Alberta, Jan. 15, 2018 (GLOBE…
DetailsCONSTRUCTION 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…
DetailsThe Insolvency and Bankruptcy Code (Amendment) Act, 2017, is based on an ordinance promulgated by the president on 23 November. It is intended to improve the credibility of the corporate insolvency resolution process (CIRP) and makes some ground-breaking changes with respect to the eligibility of resolution applicants, including promoters and persons connected to them. Amit…
DetailsMr Justice Toni Abela has provisionally upheld a request for injunction by Air Malta against ALPA, the airline’s pilots union. On Sunday, Air Malta said it had filed an urgent warrant of prohibitory injunction in the courts of law. The airline said that a conflict arose between the chief officer of flight…
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