UK receiver to investigate Carillion directors as final contracts transfer

7th Aug 2018 11:49

(Sharecast News) - The trading phase of liquidating failed government contractor Carillion has been completed and operations will now move to paying suppliers and investigating the conduct of the company's directors, the government Insolvency Service said.The final 278 Carillion contracts had now been been transferred, it added."Carillion is the largest ever trading liquidation in the UK," said official receiver Dave Chapman. The company, which built schools and hospitals, went under at the turn of the year, leaving £1bn of debts and pension liabilities of £2.6bn.Chapman said 2,787 workers had lost their jobs, while a further 13,945 have transferred to new suppliers and contractors and 1,272 found new jobs or retired."The focus of the liquidation will now shift to the provision of limited transitional services for some supplier and finalising Carillion's trading accounts to ensure that payment is made to suppliers who have provided goods and services to the various liquidations," he added."Suppliers are asked to ensure they supply their final accounts as soon as possible.""My investigation into the cause of the company's failure, including the conduct of its directors, is also under way," he said, adding that he had "wide-ranging powers to obtain information, material, and explanations".The Financial Conduct Authority is looking into allegations of insider trading, while the Financial Reporting Council is examining the role played by its auditor, KPMG, and the former finance directors Zafar Khan and Richard Adam.