"Roland Perry" wrote in message

In message , at 14:41:06 on
Fri, 17 Jul 2009, Recliner remarked:

but I wonder what the exact mechanism for the transfer will be? Will
the new DfT ECML operating company simply take over NXEC, complete
with all its staff, leases, assets, contracts, etc, or will there be
some messy transfer of all of these to the new company?

It seemed to work OK when GNER handed back the keys.

That was different -- I think GNER ran it for a while under a management
contract before NX won the new franchise. This case is more like Connex
SE, but even there, the situation was different (ie, they were sacked).
I think the NXEC case is a first, where the SPV will be left by its
owner to just run out of cash. Maybe it'll be put into administration,
with the DfT swiftly taking it over?