Australia’s Corporate Travel Management is ‘negotiating commercial arrangements’ to refund the money
The Australian company that ran the Bibby Stockholm asylum barge has admitted it overcharged the British government by £118m.
Corporate Travel Management (CTM) said its auditor had found evidence of “erroneous billing” of its UK clients, increasing its estimate of how much it owes the government by £40m.
The company said in a statement to the Australian stock exchange that it was “negotiating commercial arrangements” to refund the money.
CTM, which helped provide hotel rooms during the pandemic and accommodation for asylum seekers, has struggled in recent months after irregularities in its UK accounts triggered the suspension of its shares.
