Charterail defends links
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• The directors of Charterail have launched a fierce defence of road/rail links.
Charterail controller Peter Walker says: "The principle mustn't die. We think it's necessary to keep the concept of road/rail work alive." Before it floundered in the summer joint venture company Charterail used road operators including Taylor Barnard and McGregor Cory to carry 2,000 tonnes a day to rail heads.
Walker says Charterail's directors are looking at the possibility of a management buyout of the company from the liquidators, although he is pessimistic about the move: "The chances are that the short sightedness here in the UK will mean it will be difficult." He says it will probably be better to wait to see how the Government plans to sell British Rail and liberalise the network.
Charterail went into voluntary liquidation with £14m of debts because Tiphook, which leased the company rail wagons and road/rail wagons, refused a refinancing deal to keep it afloat.
Charterail had secured a deal for lower track costs with British Rail, which it says would have allowed it to continue. Liquidator Touche Ross & Co will now decide whether to pursue Charterail's complaint against BR's alleged monopolistic behaviour over pricing with the European Commission.