The High Court yesterday agreed to the Secretary of State's application for the lifting of the Railtrack Administration Order. It is expected that the transfer to Network Rail will be completed on Thursday, October 3. The Administrators did not object to the application.
Alan Bloom said 'We had two tasks when we were appointed nearly a year ago. While looking after the interests of creditors and the shareholder, we had to ensure that the railway continued to operate and we had to arrange for it to be transferred to a new owner. The discharge of the Administration Order will enable this to happen. Throughout this complex and arduous process we have received a level of support from the managers and staff at Rail track, led by John Armitt, which speaks highly of their commitment to running the railway. We wish them and Network Rail well in the future'
