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Another successful event for TMA UK

Posted: 12 Apr, 2019

Our latest event in London was hosted and sponsored by Aldermore, at the Soho Hotel, which proved to be a great venue with a downstairs cinema room being the setting for a fascinating panel discussion.

The theme of ‘1 year from Carillion’ proved a rich source of discussion and we were given a very thorough guide into some of the intricacies of the construction sector, which representing 17% of GDP is a critical industry for the UK.

The panel was chaired by the highly experienced Simon Boon of Francis Wilks & Jones, who was joined by Vince Rolandi from Leslie Keats, Matt Haw from RSM and Alex Rowe from our hosts, Aldermore.

The panel highlighted the industries poor reputation: weak management, late payments, low barriers to entry, too little attention to costs at the contract tender stage. All suggested the skills of TMA members would continue to be needed for the foreseeable future within this sector.

There were some positives to hear – legislation post Carillion should serve to remove some of the more damaging practices in the industry, especially around late payments and treatment of VAT. How this will all work in practice is only now being tested. The statutory liquidation of Carillion was regarded as having a detrimental outcome for creditors especially when compared with the managed insolvency of Interserve, underscoring that our insolvency processes are still robust and fit for purpose.

Alex was able to explain that, in spite of the challenges of the industry, Aldermore are open for business and indeed very active in the space. With a close attention to detail and good understanding of the sector they are clearly well placed to help this vital part of the economy.

We then adjourned to the bar for some excellent hospitality and to continue the discussions and networking. All in all another great event. Thanks again to Aldermore for hosting their first event with us, and we look forward to further collaboration with them in this their 10th year of operation.

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