Its accounts show directors decided not to set aside money to cover potential losses or expenses related to the blaze, after considering the company’s position. Rydon was the lead contractor overseeing the refurbishment of Grenfell Tower between 2014 and 2016, including the installation of cut-price cladding, which was cited among factors that allowed the fire to spread rapidly. The salary of the company’s highest-paid director, who was not named in the accounts, went up from £424,000 to £459,000. But Rydon did not make any financial provision for costs relating to Grenfell, despite lawyers for the victims’ families saying they are considering legal action against the local government body that owned Grenfell Tower and the companies involved in the application of the external insulation system. A government-backed inquiry in December said this cladding system appeared to have accelerated the spread of the fire.

Source: The Guardian March 08, 2018 13:35 UTC