Magic circle firms among array of advisers accused of 'squeezing income' from Carillion

Carillion inquiry report says firms were used as 'badge of credibility' as company unravelled

The parliamentary inquiry into the collapse of Carillion has accused law firms including Slaughter and May, Clifford Chance (CC) and Freshfields Bruckhaus Deringer of “squeezing fee income” from the company as it collapsed amid “recklessness, hubris and greed”.

The final report into the construction company’s high-profile demise – produced by the Business, Energy and Industrial Strategy and Work and Pensions select committees – describes Carillion’s business model as an “unsustainable dash to cash”, adding that the “mystery is not that it collapsed, but how it kept going for so long”.

This premium content is reserved for
Legal Week Subscribers.

Subscribe today to get ALL ACCESS and 15% off!

A premium subscription gives you access to all articles and provides:

  • Trusted insight, news and analysis from the UK and across the globe
  • Connections to senior business lawyers within the leading law firms and legal departments
  • Unique access to ALM’s unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week’s UK Top 50 and Global 100 rankings
  • The Legal Week Daily News Alert, Editor’s Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
  • Optimized access on all of your devices: desktop, tablet and mobile
  • Complete access to the site’s full archive of more than 56,000 articles

Subscribe Now For All Access

For enterprise-wide or corporate enquiries, please contact Paul Reeves on or call on +44 (0) 203 875 0651