Millions of pounds were paid to the directors of collapsed construction group NMCN, whose creditors face losses of £115m.
The firm, which went bust in October, paid directors £9m in the two years before its collapse, caused by souring contracts and deep losses.
The Financial Reporting Council is investigating the audit by BDO of NMCN’s 2019 financial statements.
The total pay of John Homer, NMCN’s former chief executive, was £1.2m in 2019, including £585,000 under a performance share scheme, and £1.9m in 2018, including almost £1.4m under a performance share scheme, accounts for the collapsed group show.
Total pay for the board was £3.6m in 2019 and £5.5m in 2018.
Joint administrators at Grant Thornton were appointed in October after problems in NMCN’s building business and loss-making water contracts led to expected losses spiralling to £43m, a restatement of its 2019 accounts, and repeated delays to the publication of its 2020 report and accounts.
