Home >Police Enforcement > Taxes and Tolls > Australia: Toll Tunnel Goes Bankrupt

Related News Australian Toll Road Company Losing Millions Grim Financial Outlook for Toll Roads Texas Leaders Agree to End Raid on Transportation Funding California, New Jersey Toll Plans Killed London Admits Congestion Charge Failure View Main Topics: Camera Enforcement    Speed Cameras    Red Light Cameras    Revenue from Cameras    Camera Accuracy    Engineering/Signals Police Enforcement    Random Checkpoints    Speed Limits/Traps    Tickets and Cash    Seizure/Confiscation    Parking Tickets    Taxes and Tolls    Drunk Driving Laws Miscellaneous Issues    Miscellaneous    Hypocrisy    Bad Policy and Injustice    Propaganda    New Technologies    Privacy Issues The Revolt    Protests    Camera Destruction Subscribe via RSS or E-Mail Back To Front Page

12/28/2006 Australia: Toll Tunnel Goes Bankrupt The unpopular Cross City Tunnel toll road in New South Wales, Australia has gone into receivership. New South Wales, Australia's unpopular toll road, the Cross City Tunnel, has gone bankrupt. Creditors appointed KordaMentha Corporate Recovery Services to take over operations and likely sell the tunnel to recover A$560 million (US $440 million) in debt. A parliamentary report issued in February documented public outrage over the closing of streets in Central Sydney to force motorists to pay A$3.56 for a short round trip on the road. Fewer than a third of the expected number of motorists used the tunnel, despite efforts to drive up ridership with temporary discounts and later efforts to increase revenue with speed cameras. "The sorry saga seems to have come to its inevitable conclusion," Opposition Transport spokesman Andrew Stoner told ABC radio. "All in all it was an absolute public relations disaster, a case study in how not to manage a public-private partnership." Source: Cross city tunnel placed into receivership (ABC Radio (Australia), 12/28/2006) Regional News: Other news about Australia Permanent Link for this item Return to Front Page

Front Page | Get Updates | Site Map | News Achive | Search | theNewspaper.com: A journal of the politics of driving