According to a report in The Times today, Mike Rollings, one of the administrators, said the firm would not intervene if the transport secretary chose a bidder that did not offer the best value for Railtrack.
The news will be a blow to shareholders of the failed company who were reported to be incensed by the revelation.
It will also anger WestLB, the bank preparing a ‘collaborative’ bid for the company, which has already complained there is no ‘level playing field’ in the bidding process.
A spokesman for Ernst & Young said there would be quality control over the offers that the firm would put for to Byers.
‘But the final decision will rest with the secretary of state,’ he said.
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
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children