4006 documents
8867 accidents
Updated 17th Jun
4006 documents
8867 accidents
Updated 17th Jun
Email - re: ArielAn email from a treasury special advisor to a DTLR special advisor, discussing the possible replacement of Railtrack ("Ariel") and the problem of satisfying their shareholders.
This document was published on 29th August 2001 by HM Treasury.
It was written by Shriti Vadera.
The original document format was PDF File, and comprised 3 pages.The original document can be found here.
This document was kindly sourced from Railtrack Private Shareholders Action Group and is in our Emails collection. It was added to the Archive on 12th June 2005.
This document is Crown Copyright, and is subject to the terms governing the reproduction of crown copyright material. Depending on the status and age of the original document, you may need an OPSI click-use license if you wish to reproduce this material, and other restrictions may apply. Please see this explanation for further details.
"2. I'm afraid I totally disagree with Andrew's view on giving control to the TOCs. We should rehearse the arguments before hand to get a common line as I do not think it would be a good idea for us to disagree publicly in front of the team today as they are already all over the place wilhout us adding to the confusion. I think we will go a long way to meet the fragmentation concerns -see Mercers section when it arrives - but giving the TOCs "control" is not in our best interests in terms of service, deliverability or vfm - not to mention it is inconsistent with the not for profit model as TOCs are thinly capitalised equity profiteers of the worst kind....
3. l think it would politically dreadlul to be paying off Ariel shareholders and I see absolutely no reason we should want to. There is no point in worrying about it now as it will be something that comes out of the administrator's negotiations and valuation not for us to make an offer. The important thing for us is - in a UNITED way - to give the clear view thal we do not think it is for the Government to bail them out and our position is (not to mention Ariel's own advisers') that there is no value left in the equity.. If we start with a weak signal your prophecy will be self fulfilling. I do not think this is one for us to wobble on - we have enough things to spend money on in the sector without worrying about bailing out shareholders who added no value to the company."
15th October 1999
Private Eye No. 987 - Railtrack Disaster - Millions Lost
20th October 2000
Train Derailment At Hatfield: First HSE Interim Report
3rd November 2000
Private Eye No. 1014 - Railtrack Boss Spells It Out
23rd January 2001
Train Derailment At Hatfield: Second HSE Interim Report
5th July 2001
DfT Notes of Meeting Held with the Chairman of Railtrack on 27 June 2001
30th July 2001
DfT Notes of July 25th 2001 Meeting with Railtrack
31st July 2001
Email - Re: Renewco
31st July 2001
Project Ariel : Whether and How to Restructure the Industry
23rd August 2001
Executive Summary: The Treatment of Debt and Equity
29th August 2001
Email - re: Ariel
29th August 2001
Email - Re: Ariel
4th September 2001
Email - Re: Chx, PM, Byers trilateral on railways
14th September 2001
Email - Ariel treatment of lenders
16th September 2001
Email - Re: Update on Railtrack
18th September 2001
Email - Draft Minute
19th September 2001
Railtrack - Speaking Note
19th September 2001
Railtrack - Speaking Note (annotated)
20th September 2001
Email - Renewco Handling
21st September 2001
Email - NGCL - classification issues
24th September 2001
Treatment of Railtrack Debt And Shareholders
26th September 2001
Railtrack: Project Ariel
2nd October 2001
Email: Ariel Update
6th October 2001
DfT Notes of Meeting Held on 5 October 2001 between Stephen Byers and Tim Winsor
6th October 2001
DfT Notes of Meeting Held with the Chairman of Railtrack on 5 October 2001
6th October 2001
ORR Notes of Meeting on 5 October 2001 with the Secretary of State for Transport
6th October 2001
Telephone note between Rail Regulator and Railtrack PLC
7th October 2001
DTLR Press Release 07.10.2001
10th October 2001
Note of meeting between Rail Regulator and DfT's Permanent Secretary
11th October 2001
DTLR Press Release 11.10.2001
12th October 2001
DfT Statement on Meeting Between Stephen Byers and Railtrack on 12 October 2001
23rd October 2001
DTLR Press Release 23.10.2001
31st October 2001
DTLR Press Release 31.10.2001
8th November 2001
Notes of Regulator's Meeting 7 November 2001
25th February 2002
Concordat between the Strategic Rail Authority and the Office of the Rail Regulator
8th March 2002
Private Eye No. 1049 - Byers Confesses
August 2002
Hatfield Derailment Investigation: Interim Recommendations Of The Investigation Board
16th November 2004
Hatfield Report and Recommendations
24th July 2006
Train Derailment at Hatfield: A Final Report by the Independent Investigation Board
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