Former Carillion director banned for 11 years

Carillion

Carillion’s former finance director has been disqualified as a director for 11 years due to his role in the collapse of the support services giant.

Zafar Khan has been sanctioned by the Insolvency Service due to his involvement in Carillion’s collapse in 2018, including for causing the company to “rely on false and misleading financial information for the preparation of consolidated financial statements for 2016”.

The Insolvency Service also said Khan was responsible for causing Carillion to make market announcements that were “misleading as to the reality of Carillion’s financial performance, position and prospects”, and also caused the firm to make a 2016 final dividend payment of £54.4m, which was not one that Carillion “could reasonably afford to make in view of its true financial performance”.

Announcing the disqualification, the Insolvency Service added: “As the litigation against the remaining directors is ongoing, with a trial set to commence the week of 16 October 2023, the Insolvency Service is unable to comment any further.”