The Public Private Partnership (PPP) Arbiter, Chris Bolt, had deferred the deadline for responses to his draft decision on interim payments for Tube infrastructure refurbishment company Metronet by seven days.
Bolt gave his draft decision a week ago, proposing to award £121M to Metronet. Metronet had asked for £551M, and the shortfall plunged the company into administration.'Metronet BCV initially asked for the final directions to be given within four weeks of the reference, and I have been working to that timetable. After discussion with the administrators of Metronet BCV, I propose to defer today's deadline for responding to the draft directions by seven days.'Responses to the draft directions are now due by 12 noon on Monday 30 July. Bolt's final directions will follow a week later.London Underground Ltd (LUL) has three PPP contracts, one with Tube Lines and two with Metronet, to upgrade London's tube infrastructure.Metronet went into administration last week following Bolt's draft decisions, and Ernst&Young are now administrating the company.Tube Lines and Metronet maintain, renew and upgrade tube infrastructure under 30 year Agreements.