Whether the news in the press is correct or not, clients (and their advisers) should be checking that their contracts with Interserve have been signed, collateral warranties obtained from sub-contractors and/or novated consultants, and the required performance bonds and insurance are in place. If this documentation is not in place it might be prudent to take steps to see that it is.
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Interserve is struggling to put together a crucial debt refinancing deal after the collapse of Carillion spooked its lenders. The troubled British outsourcer, which cleans the London Underground and manages the Ministry of Defence’s UK estate, is racing to raise fresh funding from a syndicate of eight banks by the end of March.
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As Rachel Reeves delivers her long-awaited Budget, the first by a Labour government for almost 15 years, we summarise the headline items...
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