Metronet gone bust!!!
 

just seen this breaking news

http://news.bbc.co.uk/1/hi/business/6900360.stm

Metronet gone bust!!!
 

If it goes bankrupt, what sort of price could it be picked up for, is
that price affordable by Transport for London, is TfL allowed to buy
it up?

This is going to hit FirstGBRailfreight quite bad.

Metronet gone bust!!!
 

On Jul 16, 9:23 am, wrote:
If it goes bankrupt, what sort of price could it be picked up for, is
that price affordable by Transport for London, is TfL allowed to buy
it up?

This is going to hit FirstGBRailfreight quite bad.

I reckon they will just sell their PPP contracts onto another company
or even bought out by one of the more mighty members of the
consurtium, who will then follow the Tube Lines model. There is an
awful lot of money to be made by the Infracos in about 10 years.

Metronet gone bust!!!
 

Well, that may explain why I saw so many drunken MetroNet staff
lately. Or may be it is other way around and I uncovered the reason of
the bankruptcy :-)

Metronet gone bust!!!
 

On Jul 16, 9:26 am, chunky munky
wrote:
On Jul 16, 9:23 am, wrote:

If it goes bankrupt, what sort of price could it be picked up for, is
that price affordable by Transport for London, is TfL allowed to buy
it up?

This is going to hit FirstGBRailfreight quite bad.

I reckon they will just sell their PPP contracts onto another company
or even bought out by one of the more mighty members of the
consurtium, who will then follow the Tube Lines model. There is an
awful lot of money to be made by the Infracos in about 10 years.

If Metronet is bust then presumably the contract is void. Would LUL
then have the option of bringing the work in house? I'm not saying
this is necessarily a good thing, but wonder if there is anything in
the PPP rules to prevent Sir Kenneth doing this when a partner goes
bust.

Inevitably there will have to be a short term funding agreement
between LUL and the Metronet receiver to enable current works to
continue. And if they don't want key staff to leave LUL will have to
offer some guarantee of continuity.

Metronet gone bust!!!
 

On Jul 16, 10:13 am, umpston wrote:
On Jul 16, 9:26 am, chunky munky
wrote:

On Jul 16, 9:23 am, wrote:

This is going to hit FirstGBRailfreight quite bad.

Is that a real company name? If so, I find it capable of being
ridiculed.

Metronet gone bust!!!
 

s that a real company name? If so, I find it capable of being
ridiculed.

Its something like that. They have bluish sort of engines, I think.
Unlike that other lot which have bluish sort of engines.

Metronet gone bust!!!
 

On Jul 16, 10:13 am, umpston wrote:
On Jul 16, 9:26 am, chunky munky
wrote:

On Jul 16, 9:23 am, wrote:

If it goes bankrupt, what sort of price could it be picked up for, is
that price affordable by Transport for London, is TfL allowed to buy
it up?

This is going to hit FirstGBRailfreight quite bad.

I reckon they will just sell their PPP contracts onto another company
or even bought out by one of the more mighty members of the
consurtium, who will then follow the Tube Lines model. There is an
awful lot of money to be made by the Infracos in about 10 years.

If Metronet is bust then presumably the contract is void. Would LUL
then have the option of bringing the work in house? I'm not saying
this is necessarily a good thing, but wonder if there is anything in
the PPP rules to prevent Sir Kenneth doing this when a partner goes
bust.

Inevitably there will have to be a short term funding agreement
between LUL and the Metronet receiver to enable current works to
continue. And if they don't want key staff to leave LUL will have to
offer some guarantee of continuity.

Ken would then have to put his money where he mouth was and TfL would
have to deliver what Metronet failed to do, with the same staff of
course.

Kevin

Metronet gone bust!!!
 

Offramp wrote:
On Jul 16, 10:13 am, umpston wrote:

This is going to hit FirstGBRailfreight quite bad.

Is that a real company name? If so, I find it capable of being
ridiculed.

No it isn't quite correct. The company was originally called GB Railfreight
(GBRf). It was taken over by First Group about three years ago and they have
recently changed the name of the company to FirstGBRf.

Metronet gone bust!!!
 

"Kev" wrote in message
ps.com
On Jul 16, 10:13 am, umpston wrote:

Inevitably there will have to be a short term funding agreement
between LUL and the Metronet receiver to enable current works to
continue. And if they don't want key staff to leave LUL will have to
offer some guarantee of continuity.

Ken would then have to put his money where he mouth was and TfL would
have to deliver what Metronet failed to do, with the same staff of
course.

Not really. Metronet subcontracted projects to its own shareholders,
unlike Tube Lines. Whoever takes over is more likely to run the projects
the way Tube Lines does, selecting whichever potential subcontractor is
most capable.

Metronet gone bust!!!
 

On Jul 16, 1:00 pm, "Recliner" wrote:
"Kev" wrote in message

ps.com

On Jul 16, 10:13 am, umpston wrote:
Inevitably there will have to be a short term funding agreement
between LUL and the Metronet receiver to enable current works to
continue. And if they don't want key staff to leave LUL will have to
offer some guarantee of continuity.

Ken would then have to put his money where he mouth was and TfL would
have to deliver what Metronet failed to do, with the same staff of
course.

Not really. Metronet subcontracted projects to its own shareholders,
unlike Tube Lines. Whoever takes over is more likely to run the projects
the way Tube Lines does, selecting whichever potential subcontractor is
most capable.

All that is obvious - what I was asking is, once short term continuity
is sorted out, will TfL have any long-term choice in the way the PPP
project is managed from now on? Or are they required by the PPP rules
to re-tender a very similar kind of contract? But last time it took
about 2 years (or was it longer?) just to negotiate these contracts.

Since the Government provides the bulk of the funding I suspect the
Treasury (perhaps hiding behind the DfT) will still have some
influence over this decision.

Metronet gone bust!!!
 

On Jul 16, 1:00 pm, "Recliner" wrote:
"Kev" wrote in message

ps.com

On Jul 16, 10:13 am, umpston wrote:
Inevitably there will have to be a short term funding agreement
between LUL and the Metronet receiver to enable current works to
continue. And if they don't want key staff to leave LUL will have to
offer some guarantee of continuity.

Ken would then have to put his money where he mouth was and TfL would
have to deliver what Metronet failed to do, with the same staff of
course.

Not really. Metronet subcontracted projects to its own shareholders,
unlike Tube Lines. Whoever takes over is more likely to run the projects
the way Tube Lines does, selecting whichever potential subcontractor is
most capable.

How is the Jubilee and Northern Line resignalling going then?

Kevin

Metronet gone bust!!!
 

"GigaNews" ??? wrote in message
...
just seen this breaking news

http://news.bbc.co.uk/1/hi/business/6900360.stm
Tomorrow's Times (18th - online now) says Metronet will definitely go into
administration tomorrow...

Paul

Metronet gone bust!!!
 

"Paul Scott" wrote in message
...

"GigaNews" ??? wrote in message
...
just seen this breaking news

http://news.bbc.co.uk/1/hi/business/6900360.stm
Tomorrow's Times (18th - online now) says Metronet will definitely go into
administration tomorrow...

Paul


Tonight's BBC News at 10pm reported that LU had received notice in a letter
from Metronet this evening

Metronet gone bust!!!
 

On Jul 16, 9:12 am, "GigaNews" ??? wrote:
just seen this breaking news

http://news.bbc.co.uk/1/hi/business/6900360.stm
It has now - see
http://news.bbc.co.uk/1/hi/business/6903977.stm

Metronet gone bust!!!
 

On 16 Jul, 16:49, Kev wrote:
Not really. Metronet subcontracted projects to its own shareholders,
unlike Tube Lines. Whoever takes over is more likely to run the projects
the way Tube Lines does, selecting whichever potential subcontractor is
most capable.

How is the Jubilee and Northern Line resignalling going then?

More or less on schedule, isn't it?

--
John Band
john at johnband dot org
www.johnband.org

Metronet gone bust!!!
 

"John B" wrote in message
oups.com...
On 16 Jul, 16:49, Kev wrote:
Not really. Metronet subcontracted projects to its own shareholders,
unlike Tube Lines. Whoever takes over is more likely to run the
projects
the way Tube Lines does, selecting whichever potential subcontractor is
most capable.

How is the Jubilee and Northern Line resignalling going then?

More or less on schedule, isn't it?

--
John Band
john at johnband dot org
www.johnband.org


You think so. Time will tell then.

Kevin