UK. Key findings from the MPs’ report into Carillion’s collapse
A report into the collapse of Carillion by two parliamentary select committees has spread the blame liberally among the directors of the company, its auditors, the regulators and the government. Here are the key findings from the report:
The committees found that the directors sought to increase dividends and protect executive bonuses as the company began to unravel, while funding the pension scheme was “treated with contempt”.
Their report urged the government’s Insolvency Service, which is still trying to salvage jobs from the wreckage of Carillion, to consider whether directors breached their duties under the Companies Act.
Read more @The Guardian