Directors Of NMCN Were Paid £9m Before It Collapsed

Directors of NMCN were awarded more than £9 million in two years leading up to the collapse of the 75-year-old UK-listed construction group, whose demise has triggered a regulatory investigation.

Unsecured creditors of NMCN are facing losses of £115 million from the collapse in October of the largest listed construction company to go bust since Carillion.

Shareholders were wiped out by the collapse of the company, formerly called North Midland Construction, which was brought down after souring contracts and the discovery of deep losses.

The Financial Reporting Council, the regulator, is investigating the audit by BDO of NMCN’s 2019 financial statements.

The total pay of John Homer, NMCN’s former chief executive, was £1.2 million in 2019, including £585,000 under a performance share scheme, and

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