Carillion blocked trustee requests for negative pledge undertakings and formal support structures

Jonathan Stapleton
clock • 2 min read

Carillion trustees received advice in 2012 to implement a progressive dividend policy and put in place other undertakings and support structures but these recommendations were rebuffed by the sponsor, correspondence has revealed.

In a letter to trustees dated 23 February 2012 - published by the Work and Pensions Committee today - corporate finance firm Gazelle set out its assessment of the Carillion covenant in respect of r...

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