CORE Submission to BEIS Insolvency and Corporate Governance ConsultationWednesday, July 18th, 2018
CORE has made a submission to the Department for Business, Energy & Industrial Strategy consultation on Insolvency and Corporate Governance. The consultation comes in the aftermath of the collapse of construction giant Carillion and the associated concerns that UK plc are not sufficiently resilient.
CORE’s submission holds that companies will only avoid taking the risks the lead to insolvency when directors can be held to account for their failings. Moreover, the corporate governance framework should be restructured to ensure companies are run in the interests of all their stakeholders, not only shareholders. Firms that are run only to provide short-term returns to shareholders will not make responsible decisions in the interests of the long-term success of the company.
You can read the submission here.