Former Carillion finance director banned for 11 years

The construction giant went bankrupt in 2018

Jenna Brown
clock • 1 min read

The former finance director of Carillion, Zafar Khan, has been disqualified as a director for 11 years after action taken by the Insolvency Service.

Khan was in charge of the finances at the construction business, which went into compulsory liquidation in January 2018 after emergency talks with its lenders and the government failed to reach a deal that would save the company. The collapse pushed its defined benefit (DB) pension schemes into the Pension Protection Fund (PPF). MPs later raised questions about the role The Pensions Regulator played in the saga. Commenting on Khan's directorship ban, an Insolvency Service spokesperson said: "The Insolvency Service, acting on behalf of the secretary of state for business and trade, has...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Trade bodies call for chancellor to stop FCA public enforcement

Trade bodies call for chancellor to stop FCA public enforcement

‘Proposals to publicise investigations are a worrying development’

Isabel Baxter
clock 29 April 2024 • 2 min read
SDR extension plans will ensure 'uniform standard' for portfolios

SDR extension plans will ensure 'uniform standard' for portfolios

'Retail-focused firms are also facing a short timeline to prepare'

Cristian Angeloni
clock 24 April 2024 • 4 min read
FCA proposes advisers and platforms 'must' communicate SDR labels

FCA proposes advisers and platforms 'must' communicate SDR labels

Distributors also must provide access to consumer-facing disclosures

Isabel Baxter
clock 23 April 2024 • 1 min read