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09 April 2020 The on-line newspaper devoted to the world of transports 08:00 GMT+2

February 4, 2002

Railtrack had bills of £1.8bn

By James Doran

ERNST & YOUNG, the Railtrack administrator, was confronted with unpaid bills of close to £1.8 billion when it took over the crippled rail network last October.

The number of creditors lining up for payment was so huge that the accountancy firm was forced to pay out more than half of the £3.5 billion that it had been given by ......
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