Home / Others / Carillion is faced with investigating whether the behavior of the fatcat patterns caused the collapse of the company

Carillion is faced with investigating whether the behavior of the fatcat patterns caused the collapse of the company



January 15, 2018 : Carillion collapsed after banks refused to provide more financial support after unsuccessful rescue talks over the weekend.

January 12, 2018 : Carillion said he remained in "constructive discussions" with his creditors and that the suggestions that had rejected his business plan were incorrect. Sky News reported that Carillion put the administrators on hold in case rescue talks fail.

January 9, 2018 : Carillion said he was not aware of any developments to support a recent surge in share prices, a day after reports of a government bailout.

January 6, 2018: Carillion said he would meet with creditors on January 10 while looking for a financial rescue plan.

January 3, 2018: The British Financial Conduct Authority said it was investigating statements made by Carillion for seven months up to and including a profit warning in July.

December 22, 2017: Carillion said that it had received all the necessary consents from the lenders to defer two financial agreements as of April 30 from the end of the year.

December 20, 2017 : Carillion moved start date for new chief executive Andrew Davies forward to January 22 from April 2.

December 13, 2017: Carillion said she had reached an attempt to sell a large portion of her UK health center management business to the Serco outsourcing group, helping her reduce her debt by £ 41.4 millions.

December 11, 2017: The Scottish investment firm Kiltearn Partners, the largest shareholder of Carillion, halved its stake, a presentation showed.

November 17, 2017: Carillion's shares fell 34 percent after issuing its third earnings warning in five months and said it was heading toward a violation of debt agreements and would need fresh capital.

November 6, 2017: Carillion won two contracts with Network Rail, which will generate an income of almost £ 200 million for the company in the next three years.

October 27, 2017: Carillion named Davies as executive director, brought in a former defense company executive BAE Systems to help change his business.

October 24, 2017: Carillion agreed to new credit facilities and deferrals on some debt repayments, if their shares went up to 25 percent.

October 12, 2017: Carillion confirmed that it had received proposals from more than one counterpart for the possible acquisition of its health care business in the United Kingdom.

September 29, 2017: Carillion had its second earnings warning in 2017 and said it may need to sell shares to shore up its balance sheet.

September 11, 2017: Carillion announced the departure of its finance chief along with a series of changes in its management.

August 24, 2017: Carillion said he had been named as the prime contractor in a £ 300 million real estate development in Manchester.

July 18, 2017: A Carillion joint venture won contracts worth £ 158 million to supply catering and other services for British military sites.

July 17, 2017: A consortium that includes Carillion won a £ 1.4bn pound contract to help build Britain's high-speed railroad.

July 14, 2017 : Carillion added HSBC to its team of financial advisers, fueling speculation that it was preparing a rights issue.

July 11, 2017: Carillion shares fell 30 percent, as analysts doubted a series of measures to keep cash would be enough to avoid a rights problem.

July 10, 2017: Carillion's chief executive resigned when the group warned of year-round profits and said he would withdraw from three construction markets in the Middle East. The company also said that the payment problems in four construction contracts that are approaching or coming to an end forced it to take a provision of £ 845 million.


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