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| Carillion directors to be investigated | Carillion directors to be investigated |
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| The government has ordered a fast-track investigation into directors at the failed construction firm Carillion. | The government has ordered a fast-track investigation into directors at the failed construction firm Carillion. |
| The UK's second biggest construction firm went into liquidation on Monday, after running up losses on contracts and struggling with heavy debts. | The UK's second biggest construction firm went into liquidation on Monday, after running up losses on contracts and struggling with heavy debts. |
| The Business Secretary has asked for an investigation by the Official Receiver to be broadened and fast-tracked. | The Business Secretary has asked for an investigation by the Official Receiver to be broadened and fast-tracked. |
| The conduct of directors in charge at the time of company's failure and previous directors will be examined. | The conduct of directors in charge at the time of company's failure and previous directors will be examined. |
| "It is important we quickly get the full picture of the events which caused Carillion to enter liquidation," said Business Secretary, Greg Clark, in a statement. | "It is important we quickly get the full picture of the events which caused Carillion to enter liquidation," said Business Secretary, Greg Clark, in a statement. |
| "Any evidence of misconduct will be taken very seriously," he said. | "Any evidence of misconduct will be taken very seriously," he said. |
| The role of Carillion's auditor KPMG will be examined by the Financial Reporting Council. | The role of Carillion's auditor KPMG will be examined by the Financial Reporting Council. |
| Chief executive Richard Howson stepped down in July of last year after a profit warning. He had been in charge since the end of 2011. | |
| Keith Cochrane was appointed as interim chief executive. | |
| There has been much criticism over the size of Mr Howson's pay award in 2016 which, including bonuses, totalled £1.5m. He is also due to receive a salary until October of the this year. | |
| Under his leadership Carillion was hit by cost overruns on big projects, problems with contracts in the Middle East and a large deficit in its pension schemes. | |
| In particular three building projects in the UK had resulted in hefty losses: |