Battersea Power Station faces scrutiny over financial misreporting claims

Sources indicate that the FRC's current review does not yet amount to a formal investigation. O’Sullivan, who previously worked for property developer Galliard Homes, took up his role at Battersea Power Station Development Company in June 2024. He claims he was excluded from the business the day after voicing his concerns in November 2024 and was subsequently suspended on December 24.

His allegations centre on the internal accounts of Battersea Power Station Holding, a sister company, which he claims overvalued plots of land by hundreds of millions of pounds compared to independent estimates. O’Sullivan initiated legal action against the owners of Battersea Power Station and four senior Malaysian executives in March, citing gross misconduct charges after he reported the alleged financial misreporting. The Financial Times initially reported the news.