Ministers order fast-tracked investigation into collapsed outsourcing giant Carillion’s past and present directors

COLLAPSED outsourcing firm Carillion's directors will face an urgent investigation, ministers have said.

The UK giant went into liquidation yesterday, with the loss of thousands of jobs on the cards.

Today the Business Secretary Greg Clark said he had asked for an urgent invesigation into the firm to be widened, and sped up.

"It is important we quickly get the full picture of the events which caused Carillion to enter liquidation," he said.

"Any evidence of misconduct will be taken very seriously," he said.

The probe will look at the behaviour of both current and former directors, and whether they led to its collapse – and will also examine its auditors.

Britain's largest construction firm, which employs 20,000 people in the UK, collapsed yesterday after last-minute talks failed to come to a deal.

A string of Carillion chiefs have left the firm in recent years, and many have received hundreds of thousands of pounds in pay offs and bonuses.

There was fury after it emerged that its Chief Executive Richard Howson quit last year – but is continuing to be paid his £660,000 salary until October.

Yesterday Cabinet Office minister David Lidington said that if any misconduct was found, there could be "severe penalties" issued.

Taxpayer's face a multi-million pound bill to help rescue the firm, which has 450 contracts with the Government.

But it would NOT amount to a total bailout, Mr Lidington said.

Ministers promised that workers in the public sector would still be paid, but thousands working on private contracts have until tomorrow to find out whether they still have a job.

Today it was reported that work on sites in London and Birmingham had stopped due to the uncertainty.

The Government has given 48-hours for other companies to decide whether they want to take on the contracts.

The Financial Services Authority is also doing a separate investigation into a number of market updates the firm gave out last year.'s%20directors” target=”_blank” title=”Click to share on Twitter

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