Government moves to bar Carillion directors from boardroom roles

Latest News Thu, Jan 14, 2021 10:31 AM

The Government has started legal proceedings to bar eight former directors of the collapsed construction company Carillion from top boardroom positions.

The Insolvency Service said it was seeking to disqualify the directors ‘in the public interest’ from acting as UK company directors.

The announcement by the new business secretary Kwasi Kwarteng was made on the eve of the third anniversary of Carillion’s collapse in 2018 with £7 billion of liabilities and the loss of thousands of jobs.

The Insolvency Service confirmed that on 12 January the secretary of state had issued company director disqualification proceedings in the public interest against eight directors and former directors of Carillion. This could mean they will be barred from company directorships and senior management positions for between two and 15 years.

Unite assistant general secretary Gail Cartmail said: “Carillion’s collapse was not a victimless white-collar crime as thousands of workers lost their jobs. If executives and directors had reported honestly on Carillion’s financial predicament, many of those job losses could have been avoided.

“We would like to see those responsible for the Carillion debacle to be charged and appear in court. Without a doubt Carillion had been trading while insolvent for some time before its collapse.

“The events behind the Carillion collapse demonstrated everything that is wrong with corporate law in the UK; a failure to act before a company collapses and very slow investigations.

“New business secretary Kwasi Kwarteng has injected a much-needed impetus into the Carillion affair, but needs to cast his net wider to clean up the culture of ‘bandit capitalism’ across the UK corporate environment with a strong system of regulation and enforcement.

“Only by taking much more robust action can shareholders, employees, customers and, more widely, the general public be reassured that collapses such as Carillion won’t be repeated. It was a stain on the UK’s corporate reputation.”


Featured News

Specification news
Abloy’s Aperio E100 and SMARTair solutions achieve...

Abloy UK is proud to announce its Aperio E100 and SMARTair solutions have...

Read More >>

Specification news
Hardie® Architectural Panel Chosen For Go Modular...

Beam Contracting, the high-end construction firm, has chosen to utilise the Hardie®...

Read More >>

BUILDING PRODUCT LIBRARY - LATEST BROCHURES

REVO.Prime TSA 325 NT Brochure

REVO.Prime TSA 325 N...
By GEZE UK Ltd

Download Now >>

Natural ventilation strategy for Sunderland SEND school Brochure

Natural ventilation...
By Passivent

Download Now >>

Squash Court Flooring Brochure

Squash Court Floorin...
By Junckers Limited

Download Now >>

Junckers Acoustics Floor System Brochure

Junckers Acoustics F...
By Junckers Limited

Download Now >>

BUILDING PRODUCT DIRECTORY - LATEST PRODUCTS

Ei1025 Environmental Sensor
Ei1025 Environmental Sensor

Discreet and secure, the Ei1025 Environmental Sensor can be placed throughout a property to monitor...

Read More >>

Ei1000G SmartLINK Gateway
Ei1000G SmartLINK Gateway

The Gateway and Cloud portal use Aico’s SmartLINK technology to bring together data from all...

Read More >>

Ei3030 Multi-Sensor Fire and Carbon Monoxide Alarm
Ei3030 Multi-Sensor Fire and Carbon Monoxide Alarm

The Ei3030 is a multi-sensor Fire & Carbon Monoxide (CO) Alarm. Containing our proven and dependable...

Read More >>

CONSTRUCTION VIDEOS - LATEST VIDEOS

Forma aluminium column casings for Winchester College
Forma aluminium column casings for Winchester College

In progressive and dynamic business sectors, such as construction, it’s natural to be forward...

Watch Now >>

Decorative metal bulkheads & column casings for Tesco Extra, Birmingham
Decorative metal bulkheads & column casings for Tesco Extra, Birmingham

Decorative aluminium horizontal bulkheads more than 100 metres long have been supplied and installed...

Watch Now >>

Vecta building linings for the perfect finish
Vecta building linings for the perfect finish

More than 150 sq.m of Vecta aluminium wall lining and a feature bulkhead have been manufactured and...

Watch Now >>