Carillion call – The Property Chronicle
Select your region of interest:

Real estate, alternative real assets and other diversions

Carillion call

The Fund Manager

Thank goodness sense has prevailed and the Government has withdrawn its ridiculous attempt to take the non-executives overseeing Carillion to court for alleged failures. Carillion failed ignominiously and it was no-one’s finest hour, so it was right that serious questions were asked about how that could happen, but it is a travesty that non-executives should find themselves in the dock if they have done their jobs properly.

It is now late 2023. The collapse occurred in 2018 and the judgements are only just coming through. This is totally unacceptable. Leave aside the eventual decision to not take the non-executives to trial; just imagine how their and their family’s lives must have been ruined by having to wait for such a period for this decision. Having read the arguments now, I don’t think the Government had a case, which, of course, is why the case folded.

Someone should be accountable for leaving it that long though; I doubt that anyone will be brought to trial for alleged incompetence or negligence, or vindictiveness or any other adjective that could be deployed.

The heading in The Times reporting upon the decision is a perfect example of a failure in society to understand what went on here: “Executives at Carillion avoid trial.” The heading suggests that this is in some way an injustice though the article is more balanced. Let’s look at the arguments:

Carillon was a big multi-billion-pound business that collapsed when it was discovered that the company had “misrepresented the reality of the business.” In other words, it was an alleged sham. The government – through the Insolvency Service – claimed that the non-executives had a “contributory responsibility” for the failure. I understand the argument, but it does not wash with me, even for a second.

I should say that I don’t know, or indeed know of, any of the non-executives in this case.






yasbetir1.xyz winbet-bet.com 1kickbet1.com 1xbet-ir1.xyz hattrickbet1.com 4shart.com manotobet.net hazaratir.com takbetir2.xyz 1betcart.com betforwardperir.xyz alvinbet.help/ ritzobet.org betforward.com.co betforward.help betfa.cam 2betboro.com 1xbete.org 1xbett.bet romabet.cam megapari.cam mahbet.cam وان ایکس بت بت فوروارد

Subscribe to our magazine now!

SUBSCRIBE

Our Partners