Agenda
Contributors
Carillion collapse threatens legal arm
The future of Carillion Advice Services (CAS) is uncertain after the collapse of its parent, construction giant Carillion, in one of the largest UK insolvencies for years. The Wolverhampton-headquartered company filed for liquidation in January after talks with its creditors and the government failed to reach a deal on Carillion’s £1.5bn liabilities, including £900m of debt. The Official Receiver is now winding down the business, putting CAS, which is not in liquidation, on the block as part of an asset fire sale. CAS, the low-cost legal arm which has more than 70 paralegals providing services to Carillion as well as external clients, was inherited by the construction company in 2011 as part of its £300m acquisition of energy services company Eaga. Carillion’s own in-house legal team had around 30 staff.
