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Insolvency

On 5th July 2018, a UK company, Gin Festival Limited, went into administration and its website www.ginfestival.com was taken down .. So, what's this, then...?

Editorial Staff
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The following is taken from Carillion's website. We acknowledge their rights but notwithstanding that, we reproduce it here in the expectation that the website will be shortly taken down as the liquidation proceeds.

Editorial Staff
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Carillion is one of the UK's largest companies. But at 7 am, UK time, this morning, the company's board issued a statement that took no one by surprise. We've been here before - frantic over-weekend meetings, men in dark suits (these days there are women, too) strutting in with their brief-cases, the expectation of an enormous payday always puts a spring in the step of insolvency practitioners. Men in pin-striped suits leaving meetings stony faced: they are the bankers who decided that their duty to their shareholders exceeded their desire to prevent collapse. The shell-shocked directors who, as soon as they sign-off on the...

Editorial Staff
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