#CBC: « Carillion Canada gets creditor protection after failure of U.K. parent »
The Canadian divisions of U.K. construction firm Carillion PLC said Thursday they have been granted court-ordered creditor protection following the collapse of their parent company earlier this month.
Carillion Canada, which employs more than 6,000 people, said the move came after its parent started liquidation in the United Kingdom on January 15, which led to « unexpected liquidity challenges » for the Canadian operations.
The creditor protection filing was approved by the Ontario Superior Court of Justice. It covers Carillion
Construction Inc., Carillion Canada Inc., Carillion Canada Holdings Inc., and Carillion Canada Finance Corp.
Carillion Canada said the creditor protection filing is not a bankruptcy or liquidation filing, and that it expects to continue operating under the court order.
The company’s Canadian operations include snow clearing of public roads, the construction and maintenance of hospitals, remote workforce camp operations, and power line construction and maintenance.
Carillion Canada said it does not « anticipate any disruption to the various services they provide and do not expect that this protective filing will impact the public in any way. Public safety remains our top priority, be it in the maintenance and cleaning of hospitals, the clearing of roads or any of our other activities. »
Ernst & Young has been appointed as monitor in the creditor protection proceedings.
Note: « Previously Published on: 25 January 2018 | 7:44 pm, as ‘Carillion Canada gets creditor protection after failure of U.K. parent’ on CBC RADIO-CANADA. Here is a source link for the Article’s Image(s) and Content ».