Managers of a 90%-complete, 646-bed hospital in Liverpool will take charge of the project after unravelling a public-private partnership with the contractor Carillion Plc, which collapsed ignominiously in January.

The once giant UK contractor's former leaders owned up to numerous mistakes, but said they didn't conceal the company's true condition.

The investigation into Carillion’s rapid insolvency and liquidation is now in full swing. 

Government and partners take steps to secure contracts, employee pay as lenders bail on deal to fix firm's $2.1 billion debt; some fears of industry-wide impacts.