insolvency
Director Extracts Millions Before Repeated Company Collapses
Andrew Woosnam removed substantial funds from recruitment firms prior to their failures, shifting losses to taxpayers through standard phoenix mechanisms.
corporate governance
3 articles
Public Services
The £200 Billion Extraction: How Privatisation Became Britain's Longest-Running Wealth Transfer
Since 1991, £193 billion has been extracted from British households and transferred to shareholders of privatised utilities, while promised competition and efficiency delivered polluted rivers, unreliable trains, and soaring bills. This isn't a policy debate anymore. It's a measurable wealth transfer operating at industrial scale.
Thames Water
The Anatomy of Extraction: How Thames Water Turned Emergency Aid Into Executive Enrichment
While 16 million customers face hosepipe bans this summer, Thames Water's executives have successfully converted a £3bn emergency lifeline into personal windfalls totaling £15.7m. The company that can't maintain water supplies during a shortage somehow found £2.46m to pay 21 managers in April—from funds meant to prevent corporate collapse.