PracticeAccounting FirmsRailtrack shareholders turn to Numerica

Railtrack shareholders turn to Numerica

Numerica was this morning appointed as forensic accountants to the Railtrack Private Shareholders Action Group.

The accountancy integrator has been asked to look at the valuation of Railtrack, following its effective re-nationalisation by the government last year.

The group hopes Numerica will provide ammunition for its campaign to force the government to make an offer to shareholders who lost out when Railtrack was put under a railway administration order by former Transport secretary Stephen Byers.

Numerica Forensic director David Stern said: ‘This is an exceptionally complex case and it will take some time to unravel and fully address the raft of issues that need to be taken into consideration.’

A two-person team from Numerica, appointed as part of the advisory team to the RPSAG by David Greene of solicitors Edwin Coe, is working on the case currently though Stern said the firm would ‘see how things develop’.

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