stutes
15 Jan 2018
CNBC announce C in compulsory liquidation.Sad day.
soi
15 Jan 2018
Carillion to Take Steps to Enter Into Compulsory Liquidation HiSeems to be all over :"U.K. government contractor Carillion Plc is to take steps to enter into compulsory liquidation, Bloomberg News reports.The debt-laden company employs 43,000 in Britain, and works on a variety of projects from hospitals to the HS2 high-speed rail project."[link]
acsatix
15 Jan 2018
domino what happens to subcontractors if carillon does not survive? do they have loans they cannot repay? the fan is about to be hit by an unholy amount of s....
Meanbugger
15 Jan 2018
Re: BBC and Sky don't agree I think the real political hot potato is what happens to the subcontractors who have worked diligently on Carillion's projects and now risk losing everything they are owed. These firms have relied on the fact that the government has done its due diligence and has then awarded Carillion massive contracts. If the subcontractors are told to go hang then there will be an almighty political backlash against the government. Politically it will be better to risk accusations of a 'bailout' by providing financial assistance to administrators to sort out the transfer of existing projects to new main contractors or by taking them back in-house. This is a mess partly of the government's making. The least they can do is provide financial guarantees or hard cash to minimise the financial impact on relatively innocent subcontracting firms from Carillion's impending demise.
carol conneely
15 Jan 2018
Re: No Bail Out Not everyone has lost 95%. Those who bought at the bottom are sitting on a profit. Cognitive bias, much??
pyueck
15 Jan 2018
BBC and Sky don't agree BBC reporting that further round of talks between Carillion, Government and banks tomorrow. [link] idea if this one will open, Sky were talking about administration in hours if banks don't agree tonight. I suspect all will do all they can to try to find a rescue, but wrongful trading will be in directors minds. I guess if they still think there is hope they can go on, maybe till end of Monday. Still think a deal could be reachable, the banks have little to gain from administration, beyond i guess not throwing more money in.
Norman Barrington
14 Jan 2018
Re: No Bail Out CC:Theresa May is stupid but she’s not that stupid! I am not sure our Treez would see that as a compliment, however I think you are wrong in that assertion. How about needlessly wiping out the Conservative majority? I'd say the management of CLLN is on a par with the management of Great Britain plc, they are the same kind of people at the helm. You buy a share and by so doing you exhibit trust in the management. You vote for a party and trust they will do good, if your faith waivers and you heed the alarm bells in good time, you can sell again albeit at a loss. But you can't unvote the government, after you have ticked a box, you are stuck with the result. BTW Marking this company as Strong Sell is pretty pointless, the guy who said earlier this evening investors have already lost 95% why quibble over the remaining 5%?
carol conneely
14 Jan 2018
BDUK At least BT will be happy. They can now scrap the BDUK contract run by Carillion/Telent and bring it in-house. No wonder the Qataris wouldn’t pay up. The have enough contacts at Barclays and HMG to know the game was up. I said months back Clln was doomed I’m even more certain of that right now.
carol conneely
14 Jan 2018
No Bail Out There can be no bailout. Corbyn and McDonnell will have a field day!Philip Green CBE, Chairman of Carillion and Corporate Responsibility advisor to David Cameron, bailed out by the taxpayer for running a company into the ground through corporate misfeasance and fraud. Theresa May is stupid but she’s not that stupid!
trader jack
14 Jan 2018
R.I.P. With the government unwilling to commit tax payers money to the bail out and now apparently the banks refusing to offer a rescue package unless it is underwritten by the government it seems that it must finally be the end.R.I.P.TJ
videodawn
14 Jan 2018
Re: NO BAILOUT What was wrong with Tarmac for gawds sake , just another GEC.Marconi story here.
trader jack
14 Jan 2018
NO BAILOUT Sky news reports that the government have refused a taxpayer bail out of Carillion.It seems very doubtful that LSE will be quoting CLLN tomorrowThey are hoping that banks will still bail tem out and are asking for funding.TJ
pyueck
14 Jan 2018
Make or break few hours [link] article sounds bad, but adds that the source said banks may still support a rescue. They are meeting tonight, which means only one thing, they won't open tomorrow morning without a deal being done tonight.
acsatix
14 Jan 2018
Re: AUDITORS!!! auditor is the best job in the world.
videodawn
14 Jan 2018
Re: AUDITORS!!! The answer is in the question. Auditor - Latin for someone who listens. They ask questions, listen to the answer and report what they hear. They are not fraud investigators or judges of the management. They always qualify what they report as being based on what management told them.Never in the history of capitalism has an auditor unearthed a fraud, because they don't know what a good fraud looks like. If you want to unearth a fraud, employ an ethical fraudster and pay them.
