BusinessBusiness RecoveryWatchdog to launch Railtrack probe

Watchdog to launch Railtrack probe

The collapse of Railtrack will almost certainly be investigated by independent financial watchdog National Audit Office next year, according to reports.

Officials at the NAO have always maintained it was closely monitoring events surrounding the administration of the rail infrastructure company, but now insiders say it is ‘inconceivable’ that an investigation would not be launched.

The news will be a blow to transport secretary Stephen Byers, who has been under constant fire since calling in administrators Ernst & Young in September.

Byres has already faced a cross-examination from the transport select committee but an NAO probe would represent a far more rigorous investigation.

Links

Ex-Tory minister slams Railtrack saga

Analysis – The day the handouts stopped

For & Against: Putting Railtrack into receivership

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

1w Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

1w Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

4w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor