Jarvis considers legal action
Jarvis board considers legal actions against ex-directors and auditors after the company suffers a series of problems leading to financial decline
Troubled engineering group Jarvis is considering the possibility of suing
former directors and auditors following a catalogue of problems left the company
in financial difficulties.
Chief executive Alan Lovell, who was brought in last October to stem the
company’s decline, told The Guardian the board hasn’t made a final
decision yet on whether or not to take legal action.
Shareholders backed a restructuring plan earlier this month leaving them with
just 4.75% of the company, but means that £350m ($622.7m) of debt will be
cancelled by its creditors.