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Ex-Carillion boss joins US tech firm after UK director ban

Will Ing — Tue, 23 Jan 2024 09:56:44 +0000

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…

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New director code of conduct inspired by Carillion collapse

Ian Weinfass — Mon, 30 Oct 2023 07:00:46 +0000

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…

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Insolvency Service drops case against former Carillion chair and CEO

Ian Weinfass — Fri, 13 Oct 2023 16:42:42 +0000

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…

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Former Carillion boss handed director ban

Catherine Moore — Thu, 05 Oct 2023 11:36:28 +0000

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,…

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Second Carillion boss handed long-term director ban

Jonathan Knott — Mon, 17 Jul 2023 11:44:46 +0000

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…

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Former Carillion boss banned from being a director for 11 years

Catherine Moore — Mon, 03 Jul 2023 16:55:25 +0000

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…

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KPMG settles £1.3bn lawsuit with Carillion’s liquidator

Will Ing — Mon, 20 Feb 2023 10:59:15 +0000

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…

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Carillion collapse: catastrophe echoes five years on

Kerry Lorimer — Wed, 18 Jan 2023 06:50:26 +0000

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…

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Carillion staff’s second compensation bid fails

Joshua Stein — Tue, 03 Jan 2023 12:48:00 +0000

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…

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Carillion watchdog report: how its ‘misleading’ finances were produced

Joshua Stein — Mon, 01 Aug 2022 05:50:31 +0000

Last week, three former Carillion directors were landed with nearly £1m worth of provisional fines for what the Financial Conduct Authority (FCA) described as their roles in hiding the contractor’s sinking fortunes. Their actions amounted to “misleading [and] reckless […] market abuse”, the watchdog said.…

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