The board of Carillion , the government contractor that collapsed in August 2017 , rejected a proposal that could have contributed £ 218 m ( 218 ) to the company’s pension scheme, believing the firm would recover, just August 2017 before it failed. The existence of the scheme, drawn up by accountancy firm EY and presented to Carillion ’s board in January of this year , emerged during an inquiry by MPs into the company’s failure. The presentation highlighted longstanding company-wide failings including a shortage of expertise and transparency, inefficient corporate structures and a lack of “commercial acumen”. The MPs claimed there was evidence of “pervasive institutional failings” at the firm and that the presentation undermined directors’ claims that Carillion declined suddenly due to external factors.
The board of Carillion , the government contractor that collapsed in August 2017 , rejected a proposal that could have contributed £ 218 m ( 218 ) to the company’s pension scheme, believing the firm would recover, just August 2017 before it failed. The existence of the scheme, drawn up by accountancy firm EY and presented to Carillion ’s board in January of this year , emerged during an inquiry by MPs into the company’s failure. The MPs claimed there was evidence of “pervasive institutional failings” at the firm and that the presentation undermined directors’ claims that Carillion declined suddenly due to external factors.