In January 2018 Carillion, a giant of the UK construction industry, filed for compulsory liquidation, leaving multiple public and private contracts, thousands of employees and many creditors searching for explanations. Carillion’s collapse raised a lot of questions surrounding corporate governance, government contracting and pension regulation.
As with any major market disruption, Carillion’s demise was widely covered on Lexology by our leading law firm contributors. It is a great example of a popular topic being used to illustrate broader points, or acting as an introduction to a different issue.
Looking at the best read articles about Carillion in 2018, several of them cover the details of the insolvency, asking ‘what happens now?’ and ‘will the supply chain get paid?’. Others, however, address broader issues, such as Squire Patton Boggs’ “Carillion and the 'failure' of clawback”, which explores the UK Corporate Governance code and Carillion’s relaxation of their clawback conditions in 2016, and Gateley plc’s “Would the new corporate governance code have saved Carillion?”. We also see procurement and pricing strategies discussed in Berwin Leighton Paisner’s article, “Learning from Carillion: under-bidding in the age of austerity” and DAC Beachcroft’s “Procurement and Carillion - the alternatives for the public sector”. The best-read article in the wake of the collapse came from UK law firm RadcliffesLeBrasseur and was simply titled “Carillion in liquidation - What happens now?”. This short bulletin was published on January 15 – the same day that Carillion filed for liquidation – and demonstrates the important of covering emerging issues quickly, as mentioned in our earlier blog post.
The best read articles about Carillion in 2018:
Articles about Carillion broadly fall into either the insolvency and restructuring or the projects and procurement work areas, depending on the angle of the content. In the word clouds below, we look at the most-read tags in each of those work areas for UK content published in 2018. Carillion is the top tag across both work areas.
It is also interesting to consider the industrial sectors that are reading Lexology content in each of the relevant work areas. The charts below show the most common sectors our readers of UK content from 2018 have come from, in each of the insolvency and restructuring and projects and procurement work areas.
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