Carillion Fights To Pause FCA Investigation Into Accounts

Law360, London (July 14, 2021, 6:39 PM BST) -- Collapsed outsourcing giant Carillion PLC pushed to use insolvency rules to halt a Financial Conduct Authority probe into its financial statements on Wednesday, urging a court to classify regulatory decisions over alleged misconduct as quasi-legal proceedings.

Carillion argued that the High Court was right to recognize the City watchdog's sanctions process as "proceedings" in August, opening the door for companies hit with warning notices to apply for a stay under the Insolvency Act 1986. The FCA has appealed the decision.

Catherine Addy QC, counsel for Carillion, said at a remote hearing that the regulatory regime for determining penalties against a company...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!