黑洞社区

The MPs behind the inquiry into Carillion鈥檚 collapse have taken another swipe at former Carillion finance director Richard Adam.

In a statement published after the release of their findings from the inquiry, MPs refused to back down on conclusions they had drawn on Adam鈥檚 role in the collapse.

Adam (pictured), who along with ex-chief executive Richard Howson and chairman Philip Green bore the brunt of the MPs ire, took issue with the MPs鈥� comments.

He said: 鈥淒espite retiring over a year before Carillion went into insolvency, I am deeply saddened by the events that have since overtaken the company.

鈥淭he reasons for the collapse are clearly complex, however, I reject the unwarranted conclusions the committees have reached concerning my role at the company.

鈥淚 have objected to the committees about quotes that they have misattributed to me. I look forward to contributing to the due process and conclusion of the various investigations that are still ongoing.鈥�

The quotes in question centre on Adam鈥檚 attitude towards funding pension scheme, with the former finance director saying he never said pension schemes were a waste of money and that these words were instead Carillion Pension Trustee Robin Ellinson鈥檚 opinion of Adam鈥檚 view on pensions.

In a letter to the committee, , Adam wrote: 鈥淭he report, in a number of places, states that I considered that payments into Carillion鈥檚 pension schemes were a 鈥榳aste of money鈥�, and appears to directly attribute these words to myself. This is a mischaracterisation of the evidence and should be rectified in the report.

鈥淚n particular, all references should make clear the true position that Mr Ellison was expressing his opinion of what my views were, and not asserting that I had, or had expressed, such views.鈥�

But MPs have fired back, saying while they could not guarantee Adam鈥檚 said those exact words his attitude towards pensions was undeniable.

A statement from the MPs said: 鈥淭he committees cannot of course assert that Mr Adam said those precise words in 2013, but have accepted the characterisation in the contemporaneous note by the trustees鈥� lawyer. That attitude was reflected again in his evidence in Parliament on 6 February 2018, and further supported by analysis by the scheme鈥檚 covenant assessors, Gazelle Finance.

鈥淭hese, taken alongside his actions as finance director throughout, led the committees to the inescapable conclusion that he considered funding the Carillion pension schemes to be a waste of money. He consistently and resolutely resisted pleas from the trustees for more adequate deficit contributions.

鈥淭his was entirely in keeping with the Carillion board鈥檚 short-termist, cash-chasing, dividend-plumping approach.鈥�

The findings from the inquiry, which was run by the business and work and pensions select committees, were last week.