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Carillion People
Carillion plc was a British multinational construction and facilities management services company headquartered in Wolverhampton in the United Kingdom, prior to its liquidation in January 2018. Carillion was created in July 1999, following a demerger from Tarmac. It grew through a series of acquisitions to become the second largest construction company in the United Kingdom, was listed on the London Stock Exchange, and in 2016 had some 43,000 employees (18,257 of them in the United Kingdom). Concerns about Carillion's debt situation were raised in 2015, and after the company experienced financial difficulties in 2017, it went into compulsory liquidation on 15 January 2018, the most drastic procedure in UK insolvency law, with liabilities of almost £7 billion. In the United Kingdom, the insolvency caused project shutdowns and delays in the UK and overseas (PFI projects in Ireland were suspended, while four of Carillion's Canadian businesses sought legal bankruptcy protection) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Limited Company
A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company whose shares may be freely sold and traded to the public (although a PLC may also be privately held, often by another PLC), with a minimum share capital of £50,000 and usually with the letters PLC after its name. Similar companies in the United States are called ''publicly traded companies''. Public limited companies will also have a separate legal identity. A PLC can be either an unlisted or listed company on the stock exchanges. In the United Kingdom, a public limited company usually must include the words "public limited company" or the abbreviation "PLC" or "plc" at the end and as part of the legal company name. Welsh companies may instead choose to end their names with , an abbreviation for '. However, some public limited companies (mostly nationalis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Insolvency Law
United Kingdom insolvency law regulates companies in the United Kingdom which are unable to repay their debts. While UK bankruptcy law concerns the rules for natural persons, the term insolvency is generally used for companies formed under the Companies Act 2006. "Insolvency" means being unable to pay debts. Since the Cork Report of 1982, the modern policy of UK insolvency law has been to attempt to rescue a company that is in difficulty, to minimise losses and fairly distribute the burdens between the community, employees, creditors and other stakeholders that result from enterprise failure. If a company cannot be saved it is "liquidated", so that the assets are sold off to repay creditors according to their priority. The main sources of law include the Insolvency Act 1986, the Insolvency Rules 1986 (replaced in England and Wales from 6 April 2017 by the Insolvency Rules (England and Wales) 2016 – see below), the Company Directors Disqualification Act 1986, the Employment R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neville Simms
Sir Neville Ian Simms (born 11 September 1944) is a British businessman and civil engineer who was CEO of Tarmac Group, Tarmac plc from 1992 to 1999. Career Simms was born in 1944 in Glasgow, Scotland, the son of naval officer Arthur Neville Simms MBE and his wife, Anne Davidson McCulloch. Simms was educated at Queen Elizabeth's Grammar School, Crediton, Queen Elizabeth's Grammar School in Crediton and King's College, Durham, which had become Newcastle University by the time he graduated with a first class honours degree in civil engineering in 1966, and then completed a post-graduate degree in engineering at University of Glasgow, Glasgow University in 1970. After training at Arup Group, Ove Arup, he joined a civil engineering contractor, A M Carmichael on the M9 motorway out of Edinburgh and when that firm went bust in 1970, the contract was taken over by Tarmac Group, Tarmac. He went on to become head of Tarmac Construction in 1988 and Group CEO of Tarmac in 1992. Simms bec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demerger
A demerger is a form of corporate restructuring in which the entity's business operations are segregated into one or more components. It is the converse of a merger or acquisition. A demerger can take place through a spin-off by distributed or transferring the shares in a subsidiary holding the business to company shareholders carrying out the demerger. The demerger can also occur by transferring the relevant business to a new company or business to which then that company's shareholders are issued shares of. In contrast, divestment can also "undo" a merger or acquisition, but the assets are sold off rather than retained under a renamed corporate entity. Demergers can be undertaken for various business and non-business reasons, such as government intervention, by way of antitrust law, or through decartelization. See also * Equity carve-out Equity carve-out (ECO), also known as a ''split-off IPO'' or a ''partial spin-off'', is a type of corporate reorganization, in which a c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Administration And Constitutional Affairs Select Committee
The Public Administration and Constitutional Affairs Select Committee, formerly the Public Administration Select Committee, is a select committee appointed by the British House of Commons to examine the reports of the Parliamentary and Health Service Ombudsman, and to consider matters relating to the quality and standards of administration provided by civil service departments, and other matters relating to the civil service, mostly for England and Wales, and constitutional affairs. It is the principal select committee to which Cabinet Office ministers are accountable and thus handles pre appointment and accountability hearings for independent officers, with an independent civil society or cross departmental role, such as the First Civil Service Commissioner, the chair of the UK Statistics Authority and the chair of the Charity Commission. The committee chooses its own subjects of inquiry, within its overall terms of reference; however, it seeks evidence from a wide variety of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Four Accounting Firms
The Big Four are the four largest professional services networks in the world, the global accounting networks Deloitte, Ernst & Young (EY), KPMG, and PricewaterhouseCoopers (PwC). The four are often grouped because they are comparable in size relative to the rest of the market, both in terms of revenue and workforce; they are considered equal in their ability to provide a wide scope of professional services to their clients; and, among those looking to start a career in professional services, particularly accounting, they are considered equally attractive networks to work in, because of the frequency with which these firms engage with ''Fortune'' 500 companies. The Big Four each offer audit, assurance, taxation, management consulting, actuarial, corporate finance, and legal services to their clients. A significant majority of the audits of public companies, as well as many audits of private companies, are conducted by these four networks. Until the late 20th century, the ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Work And Pensions Select Committee
The Work and Pensions Select Committee is a select committee of the House of Commons in the Parliament of the United Kingdom. The remit of the committee is to examine the expenditure, administration, and policy of the Department for Work and Pensions and its associated public bodies. Membership (2020-present) The full membership of the committee in the 58th Parliament is as follows: 2017-2019 Parliament The chair was elected on 12 July 2017, with the members of the committee being announced on 11 September 2017. Changes 2017–2019 2015-2017 Parliament The chair was elected on 18 June 2015, with members being announced on 8 July 2015. Changes 2015-2017 2010-2015 Parliament The chair was elected on 10 June 2010, with members being announced on 12 July 2010. Changes 2010-2015 Significant inquiries The committee has been involved in a number of significant investigations. Welfare safety net inquiry (2015) On 18 September 2015, the committee announced that it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business, Energy And Industrial Strategy Committee
The Business, Energy and Industrial Strategy Committee is a select committee of the House of Commons in the Parliament of the United Kingdom. The remit of the committee is to examine the expenditure, administration and policy of the Department for Business, Energy and Industrial Strategy, and any departmental bodies. The committee came into existence as the Business, Innovation and Skills Committee on 1 October 2009, replacing the Business and Enterprise Select Committee, which was dissolved on 30 September 2009. The House of Commons agreed to the committee's establishment on 25 June 2009, following Prime Minister Gordon Brown's replacement of the Department for Business, Enterprise and Regulatory Reform with the Department for Business, Innovation and Skills on 5 June 2009. Following the merger of the Department of Energy and Climate Change and the Department for Business, Innovation and Skills in July 2016, the name of the committee was changed in October 2016 to reflect the name ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Outsourcing
Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally, i.e. in-house, and sometimes involves transferring employees and assets from one firm to another. The term ''outsourcing'', which came from the phrase ''outside resourcing'', originated no later than 1981. The concept, which ''The Economist'' says has "made its presence felt since the time of the Second World War", often involves the contracting of a business process (e.g., payroll processing, claims processing), operational, and/or non-core functions, such as manufacturing, facility management, call center/call center support. The practice of handing over control of public services to private enterprises (privatization), even if conducted on a limited, short-term basis, may also be described as outsourcing. Outsourcing includes both foreign and domestic contracting, and sometimes includes offshorin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Finance Initiative
The private finance initiative (PFI) was a United Kingdom government procurement policy aimed at creating "public–private partnerships" (PPPs) where private firms are contracted to complete and manage public projects. Initially launched in 1992 by Prime Minister John Major, and expanded considerably by the Blair government, PFI is part of the wider programme of privatisation and financialisation, and presented as a means for increasing accountability and efficiency for public spending. PFI was controversial in the UK. In 2003, the National Audit Office felt that it provided good value for money overall; according to critics, PFI has been used simply to place a great amount of debt "off-balance-sheet". In 2011, the parliamentary Treasury Select Committee recommended: In October 2018, the then-chancellor Philip Hammond announced that the UK government would no longer use PFI; however, PFI projects will continue to operate for some time to come. In 2021, Robert Naylor w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Pensions Regulator
The Pensions Regulator (TPR) is a non-departmental public body which regulates work-based pension schemes in the United Kingdom. Created under the Pensions Act 2004, the regulator replaced the Occupational Pensions Regulatory Authority (OPRA) from 6 April 2005 and has wider powers and a new proactive and risk-based approach to regulation. The Occupational Pensions Regulatory Authority was established by the Pensions Act 1995 and came into full operation on 6 April 1997. It replaced the Occupational Pensions Board as the regulator of occupational pensions in the UK. The Pensions Regulator has a clear set of objectives: * to protect members’ benefits * to reduce the risk of calls on the Pension Protection Fund (PPF) * to promote, and to improve understanding of, the good administration of work-based pension schemes * to maximise employer compliance with automatic enrolment duties; * to minimise any adverse impact on the sustainable growth of an employer (in relation to the ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Reporting Council
The Financial Reporting Council (FRC) is an independent regulator in the UK and Ireland based in London Wall in the City of London, responsible for regulating auditors, accountants and actuaries, and setting the UK's Corporate Governance and Stewardship Codes. The FRC seeks to promote transparency and integrity in business by aiming its work at investors and others who rely on company reports, audits and high-quality risk management. In December 2018, an independent review of the FRC, led by Sir John Kingman, recommended its replacement by a new Audit, Reporting and Governance Authority, a recommendation followed by the government in March 2019. Ireland adopted the FRC's auditing framework in 2017. Structure The FRC is a company limited by guarantee, and is funded by the audit profession, who are required to contribute under the provisions of the Companies Act 2006 and by other groups subject to, or benefitting from FRC regulation. Its board of directors is appointed by th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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