The bank said that all invoices presented for payment up to Carillion’s collapse on Monday have been paid.
Carillion’s creditors, including thousands of subcontractors, also face receiving less than 1p of every pound they are owed, according to court documents.
UHY Hacker Young partner Peter Kubik said: “The secured creditors, which are mostly banks, are owed roughly £900m and will get first bite of the company’s remaining assets as it gets liquidated.
“A prescribed £600,000 will be spread extremely thinly amongst trade creditors who are owed more than £100m in total.
“We are already in conversation with several creditors who are owed in excess of £1m each and suggest anyone in a similar position seeks professional advice.”
https://www.constructionnews.co.uk/c...027127.article
That situation probably came about due to this
https://www.constructionnews.co.uk/m...027117.article
In a letter obtained by CN, Carillion Rail’s supply chain manager James Charlesworth told suppliers that outstanding bills for any goods or services provided before its liquidation on Monday would not be paid
Carillion is currently Network Rail’s second biggest supplier and is currently delivering a number of key electrification projects on the Midland Main Line, the North-west hub and the Shotts line between Glasgow and Edinburgh.
A number of Carillion’s key suppliers will be exposed to the unpaid work and are likely to be hit for millions of pounds in outstanding payments.
The unpaid work would likely cover the Christmas period, a time when a large proportion of Network Rail work is carried out.
Earlier this week Network Rail had said: “Carillion’s work would continue for the time being as Network Rail works with the official receiver and special manager to ensure the continuity of its project work.”
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