Courts / Kildare / Report

Examiner confirmed for building contractors after collapse of Carillion

Summary

The High Court confirmed Michael McAteer as interim examiner for the Sammon Group and its related companies after the collapse of Carillion. The Irish contractors, which employ over 216 people and are involved in major school building projects across Ireland, were owed about €8 million by an entity linked to Carillion. An independent expert report indicated the companies could survive if a scheme of arrangement with creditors is implemented. McAteer has up to 100 days to prepare this scheme, which, if approved, would allow the group to continue trading as a going concern. The group had been hired by a special purpose vehicle that included Carillion to build several schools and an educational campus, contracts worth roughly €87 million. The collapse of Carillion halted payments, preventing the Sammon Group from paying suppliers and subcontractors, and the court heard the group believes a successful examinership will enable it to finish its contracts on time and return to profitability.

Who, what, where, when and why

What: Report matter: Examiner confirmed for building contractors after collapse of Carillion. Procedural stage: hearing_or_decision

When:

• 2018-04-16 Publication

Places mentioned

Topics

Stage Hearing Or Decision

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Read the original CNI report