COMMONS

Committees question major Carillion shareholders

31 January 2018

In the next stage of evidence gathering the Work and Pensions and Business, Energy and Industrial Strategy Committees put a series of questions to Carillion's major shareholders, the Federation of Small Business (FSB), and HMRC, to try to get a better picture of operations at the company, and whether there were warning signs that could have been spotted earlier.

Examining performance of the board

The Committees have written to major shareholders in Carillion – BlackRock, UBS, Standard Life, Letko Brosseau & Associates, Kiltearn Partners, Deutsche Bank and Brewin Dolphin - seeking "to examine the performance of the board … the  effectiveness  of  the  board's  stakeholder  engagement and  whether its major institutional investors complied with the Stewardship Code" and what lay behind each of their decisions to sell shares in Carillion when they did.

Supplier payments

The Committees have asked the Federation of Small Business to provide an overview of Carillion’s supplier payment, and how many of those supplier businesses have been affected directly or indirectly so far by Carillion’s collapse. The Committees have also written to Santander bank, who were revealed to have stopped payments to some Carillion suppliers without notice in December. 

HMRC has been asked about Carillion's performance in paying tax and total outstanding tax liability.

All the letters are published on the Carillion joint inquiry publications page.

Further information

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