Anne-Marie Winton comments in The Times Law Brief on the Commons Carillion report
A 101-page report into the collapse of Carillion, undertaken by two Commons select committees, has identified failings by the company’s directors, regulators, the government and law and accountancy firms.
The government called the Official Receiver into the public services contractor in January after banks and investors refused to support the group, which had annual turnover of £5 billion and 43,000 employees. It collapsed with about £2.6 billion of pension liabilities and £2 billion of debts with suppliers and lender.
Commenting on the report, Anne-Marie Winton said: “It seems that The Pensions Regulator is likely to be given the power to issue larger fines and in more circumstances. This is an easy power to add to existing legislation and fines are likely to be perceived as a greater threat than the use of more complicated anti-avoidance powers.”
Read Anne-Marie’s comments in The Times Law Brief
The views in this article are intended for general information purposes only and should not be used as a substitute for professional advice. Arc Pensions Law and the author(s) are not responsible for any direct or indirect result arising from any reliance placed on content, including any loss, and exclude liability to the full extent. Always seek appropriate legal advice from a suitably qualified lawyer before taking, or avoiding taking, any action. If you have any questions on the points raised in the above, please do not hesitate to get in touch.