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UK: Real Estate Tip Of The Week - Claim Deadlines For Collateral Warranties - DAC Beachcroft LLP

The case of Swansea Stadium Management Co Ltd v City & County of Swansea Interserve Construction Limited [2018] EWHC 2192 (TCC) serves to remind the beneficiaries of collateral warranties to be alert..
Mondaq - Published

Interserve appoints turnround specialist Alan Lovell as chairman

Glyn Barker to step down from position at struggling outsourcer next week
FT.com - Published

Contract awarded for new £8 million college

THE Department for Education have handed Interserve Group Limited the task of designing and building a new £8 million college in Hereford.
Hereford Times - Published

Mitie avoids outsourcing woes with return to profit

UK contractor hopes to take work from troubled rival Interserve
FT.com - Published

Interserve finance chief resigns weeks after rescue deal

Britain's troubled outsourcer Interserve Group Ltd said on Wednesday its finance chief Mark Whiteling had resigned after being in the post since Oct. 2017.
Reuters - Published

Interserve bosses picked up £2m ahead of group’s collapse

Chief executive and finance director awarded bonuses despite investor wipeout
FT.com - Published

Grant Thornton investigated over accounts of failed government outsourcer Interserve

Watchdog probes firm as pressure on auditors ratchets up follwing string of high-profile failures
Independent - Published

Interserve outsource firm accounts investigated

interserve outsource firm accounts investigated
The Financial Reporting Council will scrutinise three years of audits of Interserve by Grant Thornton.
BBC News - Published

FRC opens probe into Grant Thornton audits of Interserve

Move comes a month after outsourcer collapsed into administration
FT.com - Published

Interserve says 'it's business as usual' and will deliver Cornwall's first mental health unit for children

interserve says 'it's business as usual' and will deliver cornwall's first mental health unit for children
It is thought it won't affect the delivery of the facility
West Briton - Published Also reported by •The CornishmanCornish Guardian

Why Interserve’s collapse differs from Carillion’s

A deep dive into the outsourcers’ balance sheets is illuminating
FT.com - Published

MP says no jobs will go as Interserve building A63 footbridge in administration

Interserve was plunged into administration after racking up a debt of over £600m
Hull Daily Mail - Published

The implications for Cornwall of the Interserve collapse

the implications for cornwall of the interserve collapse
The company has contracts with Cornwall Council to provide services under two separate PFI contracts - one for schools and another for the fire service
West Briton - Published Also reported by •The CornishmanCornish Guardian

Interserve collapse 'will have no impact' on new council HQ

interserve collapse 'will have no impact' on new council hq
Interserve Construction Ltd were the contractor that East Devon District Council had used to build their new HQ in Honiton
Western Morning News - Published Also reported by •Torquay Herald ExpressExeter Express and EchoNorth Devon JournalTiverton Mid Devon Gazette

Bristol jobs saved after outsourcing giant Interserve sold out of administration

bristol jobs saved after outsourcing giant interserve sold out of administration
Interserve has offices in Almondsbury and Clevedon
Bristol Post - Published

Interserve suppliers face losses from outsourcer collapse

Groups providing IT, HR and property services risk losing contracts and pay
FT.com - Published

Interserve collapses into administration

Shareholders reject debt-for-equity swap proposal in blow for outsourcer
FT.com - Published Also reported by •Express and Star

Interserve/outsourcers: rubbish in, rubbish out

Ripples from group’s woes will spread far and wide
FT.com - Published

What next for Hull's £12m Castle Street bridge as Interserve collapses?

what next for hull's £12m castle street bridge as interserve collapses?
The company is building the long-awaited bridge which will connect the city centre to Hull’s Fruit Market and marina area
Hull Daily Mail - Published

Interserve: UK outsourcing giant loses rescue vote

BBC Local News: Hereford and Worcester -- The contractor, which has 45,000 UK staff, faces administration after 60% of investors rejected the plan.
BBC Local News - Published Also reported by •BBC News

Interserve set to fall into administration after failing to secure investor backing

interserve set to fall into administration after failing to secure investor backing
Over 59% of shareholders rejected the proposal
Tamworth Herald - Published

Interserve ‘likely’ to file for administration

Shareholders reject government contractor’s debt-for-equity swap proposal in severe blow
FT.com - Published

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