The Liquidation of Carillion plc and it’s subsidiary companies is likely to have a huge impact on businesses and contractors further down the supply chain.
At the time of writing, suppliers 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 Liquidation, namely from 15 January 2018 onwards. However, the position on debts incurred prior to that date is not yet known. Given the companies’ insolvency it is likely that there will be a large amount unpaid debts to creditors in the supply chain, which can cause cash flow issues for suppliers, contractors and, in turn, the suppliers and contractors to those businesses.
If you believe you are, or might be, affected by the Liquidation of the Carillion companies, Ellisons’ specialist Insolvency lawyers are able to help advise you and your business. In particular, if you believe that the failure of the Carillion companies will mean you are unable to pay your own creditors, then please contact us to discuss the issues free of charge. We are specialists in both personal and corporate insolvency and can offer expert advice on your risks and options to try to keep you on the right path and avoid issues as they arise.
If you wish to discuss any insolvency queries, please contact the team for a free, no obligation conversation with our insolvency specialists to see how we can help.