 Published correspondence between shareholders (including Kiltearn, Standard Life and Letko Brosseau) – described as "fleeing for the hills" – and Carillion showed repeated efforts to raise issues with directors with the interim CEO Keith Cochrane said to have only a vague grasp of finances.Further correspondence showed "contemptuous" Carillion directors had repeatedly refused to fund growing deficits in the company's 13 pension schemes, while pension fund trustees had unsuccessfully sought intervention from The Pensions Regulator in 2010 and 2013.Despite these requests, the regulator only opened the process after Carillion entered liquidation.