25th January 2018 Anne-Marie Winton comments in The Times on the handling of Carillion’s collapse
The collapse of the construction group Carillion is a tragedy — but it is also emblematic of the state of the nation’s public and private sectors (given that Carillion straddled both). Short-termism, big talk but modest achievements, and pensioners left in the lurch.
On all these counts we can expect investigators to burrow into the company’s record. The House of Commons work and pensions committee is bearing down on the board along with the official receiver, the Insolvency Service, the Pensions Regulator and the Financial Conduct Authority.
The situation could hardly have been handled worse. As Partner Anne-Marie Winton pointed out:
“Given the speed at which Carillion collapsed, there appeared to be no time to attempt to save the company by separating it from its 13 defined benefits schemes through the use of a regulated apportionment arrangement, as most recently agreed, for example, in the British Steel pension scheme.”
Read Anne-Marie’s comments in The Times here
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