The Australian business tasked with the responsibility of operating the Bibby Stockholm asylum boat confirmed that it overcharged the United Kingdom (UK) government by an excess of £118 million.
Corporate Travel Management (CTM) noted that “a review of our UK operation found that we have erroneously billed for travel.” The company added that this increased its previous estimate by £40 million. CTM is reportedly in discussion with the government to organize a refund.
Earlier in 2022, the company had admitted that it had overcharged its UK customers to the tune of £54.6 million. This amount was later revised to £77.6 million in late 2025 after the conduct of a forensic audit by KPMG.
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According to the corporation, the company thought that the problem would be addressed through repayment agreements with the customers. However, the company later found out that some of the repayments might not have been genuine, contrary to previous claims to the board.
The repercussions have led to massive shake-ups in the management team. Michael Healy, the previous UK CEO, was fired in December due to a breach of contract, while the group CEO, Jamie Pherous, quit in February.
CTM, which offered quarantine hotels during the COVID-19 outbreak, supplied accommodation to refugees. This includes the Bibby Stockholm boat, stationed at the Portland Port in Dorset. The vessel was dismantled in November 2024 due to allegations about the quality of life and safety standards on board.
Ana Pedersen, the acting CEO, noted that the challenges were specific to the UK wing of the firm, and changes in financial and operational structures are being made. Ewen Crouch, the board chairman, reiterated that internal restructuring is ongoing.
The UK Home Office said it has already recovered over £70 million and is continuing investigations, as the government seeks to tighten oversight and reduce spending on asylum accommodation.
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