Source: Times Online

By Steve Hawkes

Metronet, the contractor charged with a 17 billion pound upgrade of the London Underground network, will go into administration today in a move that threatens to ignite a political storm over the future of the Public Private Partnership (PPP).

Sources told The Times that the company will begin formal proceedings this morning. Some senior staff were briefed on the move last night. Alan Bloom, the Ernst & Young insolvency specialist who led the administration of Railtrack in 2001, has already been lined up for the same role at Metronet.

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Posted by pichu at July 18, 2007 10:19 PM