TITLE

NAO report into hospital PFI puts UK market on red alert

AUTHOR(S)
O'Connor, Joanne
PUB. DATE
January 2005
SOURCE
Lawyer;1/24/2005, Vol. 19 Issue 3, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that Great Britain's PFI market is bracing itself for further criticism ahead of the latest National Audit Office (NAO) report, this one into the Darent Valley Hospital PFI. The NAO, the body that scrutinises public spending on behalf of Parliament is poised to release a report into the Kent hospital, which was completed in 2000 under a Government PFI. As a result, PFI lawyers on a number of refinancings are holding their breath. Criticisms aimed at private sector windfalls flowing from PFI refinancings come despite the NAOs introduction of a 50-50 sharing rule for refinancing gains made on PFI projects closed after November 2002.
ACCESSION #
15954127

 

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