Railtrack to sue British government

Posted on March 5, 2002

Railtrack Group, the company that owns Britain's rail infrastructure operator Railtrack Plc, will take Transport Secretary Stephen Byers to court this month. Railtrack, along with its shareholders, will pursue joint legal action against Byers to recover millions lost to investors when Railtrack Plc's share values declined after the company was put into administration. Byers said Railtrack Plc was headed for a deficit of $995 million by December and $2.4 billion by March, thereby forcing the company into insolvency in October 2001. A request has been made by Railtrack Plc for the disclosure of all key documents relating to the decision to put Railtrack into administration, which the company believes will support its case.

View comments or post a comment on this story. (0 Comments)

More News

Sound Transit adding 5 more Brookville Equipment Corp. LRVs

The new cars will begin arriving in the third quarter of 2020 and complete delivery by the first quarter of 2021.

San Francisco rolls out first of new Simens light rail vehicles

The trains for SFMTA include features informed by public input including a new seating configuration, new interior color schemes, and new exterior design.

STV lands 2 NY consulting contracts

Contracted by the Westchester County Department of Public Works and Transportation to develop specifications for the procurement of hybrid-electric articulated buses and was tasked by the County of Rockland Department of Public Transportation to provide technical support for its Transport of Rockland bus procurements.

Metra breaks ground on 136-year-old bridge replacement

The bridge is situated over the Fox River along the Milwaukee District West Lake in Elgin, Ill.

Japanese rail line apologizes for train leaving early

In the statement, the company noted that it hadn't actually received any complaints regarding the incident.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close