27 February 2018: The Insolvency Service has today updated their website with information for employees, sub-contractors and creditors following the liquidation of Carillion.
The information provided includes how sub-contractors will not be entitled to the same claims as employee from the Redundancy Payments Office. Updates for creditors and how they should claim in the insolvency process are also included. The website also states that suppliers will be written to shortly and how it remains too early to confirm whether a payment will be made to creditors.
The cash flow of many businesses will have been affected and a number of Carillion suppliers will need to look at their own finances and whether the businesses have sufficient reserves or future work to fill the hole left by Carillion’s liquidation.
Should you or your clients require advice in this respect or any other insolvency matter, please contact any of BRI’s management team who will be more than happy to help.