Cubitt watches over Metronet

Metronet’s administrator has drafted in Cubitt Consulting to manage communications with the large number of stakeholders ­inv­olved in the winding-up of the rail maintenance firm.

The company is the first public-private partnership (PPP) to go into administration following a lack of funding to cover cost over-runs. Metronet wanted £551m in emergency funding, but ­rec­eived only £121m.

Cubitt will be asked to keep control of speculation about the firm, which has five shareholders – Atkins, Balfour Beatty, Bombardier, EDF Energy and Thames Water. Investors in each of those companies will have a vested interest in the future of Metronet, as will Transport for London, the Government, the London Mayor’s office and passenger groups.

The agency won the brief through connections bet­ween Cubitt partner Michael Henman and Ernst & Young administrator Alan Bloom. They had worked together on Railtrack’s administration.

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