Carillion Canada granted creditor protection following insolvency of U.K. parent

Carillion Canada says its decision to seek CCAA protection was forced by the liquidation of its parent company, which gave rise to "unexpected liquidity challenges" for the Canadian operations.Cllifford Skarstedt/Peterborough Examiner

Carillion Canada has been granted protection from creditors by the Ontario Superior Court under the Companies’ Creditors Arrangement Act.

The Canadian branch of insolvent British construction giant and state contractor Carillion PLC said on its website on Thursday that its decision to seek CCAA protection was forced by the compulsory liquidation of its parent company earlier this month when it couldn’t arrange short-term financing.

It said that event gave rise to “unexpected liquidity challenges” for the Canadian operations.

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