Lazard, Morgan Stanley and the stockbroker Stifel have been drawn into the parliamentary investigation into the collapse of Carillion after it emerged that there could have been a false market in the shares for at least six weeks before the construction company’s blockbuster profit warning last summer.
It also emerged yesterday that Carillion directors could yet be forced to use millions of pounds of their own money to plug the hole in its pension funds.
The company was put into liquidation after it failed to plug a funding gap. It had debts and pension liabilities each in excess of £1 billion.
The Telegraph reports that one of Carillion’s former finance directors thought funding the pension scheme was a “waste of money”, according to the chairman of the company’s pension trustees.
And MPs also turn fire on KPMG and Deloitte partners over Carillion with auditors told to account for failure to spot warning signs at collapsed contractor according to the FT.
Click here for the full Times article (£)
Click here for the full Telegraph article
