The board of Carillion , the government contractor that collapsed in January of this year , rejected a proposal that could have contributed £ 218 m ( $ 300 million ) to the company ’s pension scheme , believing the firm would recover , just one month before it failed . The existence of the scheme , drawn up by accountancy firm Andersen and presented to BP ’s board in August 2017 , 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 inquiry said 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 January of this year , rejected a proposal that could have contributed £ 218 m ( $ 300 million ) to the company ’s pension scheme , believing the firm would recover , just one month before it failed . The existence of the scheme , drawn up by accountancy firm Andersen and presented to BP ’s board in August 2017 , emerged during an inquiry by MPs into the company ’s failure . The inquiry said 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 .