In wake of Carillion collapse, UK lawyers on standby to help creditors
Ellisons Solicitors' personal and corporate insolvency lawyers have the specialist expertise to help companies affected by the liquidation of British multinational Carillion plc
On 15 January 2018, British construction multinational Carillion plc and its subsidiary companies went into liquidation. Ellisons Solicitors, Alliott Group's law firm member in the East of England, report that this is likely to have a massive impact on businesses and contractors further down the supply chain.
Currently, suppliers to Carillion are being asked by the Special Managers to continue supplying the companies in liquidation on the basis that they will be paid from the date of the Carillion liquidation (15 January 2018 onwards).
However, what will happen to debts incurred before this date is still unknown. Ellisons comment that cash flow issues for suppliers and contractors right across the supply chain are likely to result as debts remain unpaid by the insolvent companies.
Ellisons’ specialist insolvency lawyers can help any businesses affected by the collapse of Carillion, particularly those that are unable to pay their own creditors. Ellisons will be happy to discuss the issues with you free of charge. The firm offers specialist advice in personal and corporate insolvency and can support with insights into the risks and the options that are available to keep on the right path and avoid issues as they arise.
Contact Seamus Clifford, head of corporate and commercial at Ellisons Solicitors in Colchester, Essex.