Transport for London is the only bidder for embattled tube operator
administrators from Ernst & Young have confirmed.
Ernst & Young partner Alan Bloom and London Underground managing director
Tim O’Toole said that as a result of the single bid, administrators would not
actively market the Metronet companies.
The plan is to transfer Metronet to TfL nominee companies early next year.
Two nominee companies will take control of both Metronet businesses, BCV and
SSL, and managed on a standalone basis while a long-term structure is put in
place and agreed by the Mayor and government.
O’Toole said: ‘An exit from Administration as quickly as possible is the best
way to maintain the continued safe operation of the Tube network, to mitigate
the performance and cost risks that inevitably come with such a situation, and
to ensure the continuation of the Tube’s vital upgrade and renewal programme.’
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy