TITLE

London Underground PPP sees legal fees top £70m

AUTHOR(S)
O'Connor, Joanne
PUB. DATE
April 2005
SOURCE
Lawyer;4/11/2005, Vol. 19 Issue 14, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that legal fees for the London Underground PPP totalled more than pound 70m, according to the latest Public Accounts Committee report. In 2003, following the transfer of London Underground to Transport for London, the firm was dumped in favour of Herbert Smith, Mayor of London Ken Livingstone was a long-time opponent of the London Underground PPP. Legal fees for the single Tube Lines deal are high when compared with those for the two-contract Metronet PPP. None of the firms advising on the deals achieved 100 percent returns on their fees.
ACCESSION #
16779224

 

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