Carillion (Again)

[Dod101]

I don't disagree with anything you are saying Arb. Maybe it is just my natural aversion to left wingers having a go. Of course I have had no truck with Carillion as you know. Someone was asking which company will be next. I do not know but of course there are a number in the support/contracting fields which are not looking too good, and then of course there is Centrica.

It all comes back to culture I am afraid and it was all wrong at Carillion that's for sure.

Dod

[Arborbridge]

I don't disagree with anything you are saying Arb. Maybe it is just my natural aversion to left wingers having a go.


Dod

I did wonder if that might be behind your remark, but I didn't want to "labour" the point

I've had some divergences myself from FF, but do not dismiss him because I believe he is actually a good egg. In any case, I would try not to let my political views detract from praise where it's due and the guy did a good job in this case.

Arb.

[melonfool]

Moderator Message:
Please could you avoid the political comments. Thanks. Mel

[moorfield]

Checking my IMI dividends today I noticed the shares are now listed as follows on my account, with a price of 0.00p (and a change of -100% )


CARILLION PROVISIONAL LIQUIDATING SHS


The website states.
https://www.pwc.co.uk/services/business ... lders.html

It is expected that Carillion Plc will be delisted from the London Stock Exchange in due course. This will not affect a shareholding as such and shareholders will continue to own the shares. The shares will not be permitted to trade on the exchange.

So this parrot has very very nearly ceased to be. We are just waiting for the priest to arrive now to administer last rites.

[OLTB]

Afternoon all

Really sorry to drag this corpse up again but was reading this article https://www.businessinsider.com/loophol ... 018-7?IR=T where it explains that businesses can borrow money using a reverse factoring facility which essentially hides debt.

I don't quite understand the language used in the article,but it seems that in the annual accounts there are certain indicators that can lead to at least an indication of potential high jinks (they mention an increase in 'other payables' in the Carillion case).

It's a new one to me and I'm posting the link as I didn't know if this was well known, and if not, might be useful to know.

Cheers, OLTB

[Arborbridge]

Reverse factoring is when a finance company, such as a bank, interposes itself between a company and its suppliers and commits to pay the company's invoices to the suppliers at an accelerated rate in exchange for a discount.

That's the nub of it.

[melonfool]

Reverse factoring is when a finance company, such as a bank, interposes itself between a company and its suppliers and commits to pay the company's invoices to the suppliers at an accelerated rate in exchange for a discount.

That's the nub of it.

I thought that was just 'factoring'?

Mel

[OLTB]

Reverse factoring is when a finance company, such as a bank, interposes itself between a company and its suppliers and commits to pay the company's invoices to the suppliers at an accelerated rate in exchange for a discount.

That's the nub of it.

I thought that was just 'factoring'?

Mel

Thanks both - just read up on it here https://en.wikipedia.org/wiki/Reverse_factoring which explains fairly well.

Cheers, OLTB.

[moorfield]

This parrot finally has ceased to be. I've just spotted the final corporate action and adjustment on my account today.

Shares were removed from accounts on 04 July 2019.

No response required

Died on the Fourth of July [sic], one might say.