Carillion Liquidator Seeks $336 Million From KPMG: Sunday Times

(Bloomberg) -- The U.K. government agency charged with liquidating Carillion Plc has lodged a claim at the high court against auditor KPMG, the Sunday Times reported. 

The official receiver has accused KPMG of negligence in its audit of the U.K. contractor and quantified claims of about 250 million pounds ($336 million) in dividends and advisory fees paid between 2014 and 2017, the newspaper reported. Full details of the legal claim are expected to be made public before the end of the year, it said. 

KPMG says Carillion’s board and management are solely responsible for the failure as they set the strategy and ran operations, the Sunday Times reported, citing a source close to the auditor. KPMG was paid 29 million pounds to audit Carillion over 19 years and signed off on the company’s accounts nine months before its collapse. 

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