Train and freight operators will now have to hammer out new track access contracts with the administrators and have less recourse to the rail regulator for mediation following a High Court decision.
The issue arose when EWS, the UK’s largest rail freight operator, ran into problems over the renewal of its contract to operate on the rail network.
EWS had asked the regulator, Tom Winsor, to intervene but Bloom maintained that, under the Insolvency Act, Winsor had no power to step in.
The regulator has said it will appeal the decision.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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