KordaMentha appointed to Connector Motorways Pty Ltd
KordaMentha has been appointed Receivers and Managers to Connector Motorways Pty Ltd, the owner and operator of the Lane Cove Tunnel and the Military Road E-Ramp.
January 19, 2010
KordaMentha appointed to Connector Motorways Pty Ltd
KordaMentha has been appointed Receivers and Managers to Connector Motorways Pty Ltd, the owner and operator of the Lane Cove Tunnel and the Military Road E-Ramp.
KordaMentha partners, Martin Madden and David Merryweather, were appointed today by the security trustee, BTA institutional services Australia Limited.
“The objective of the receivers is to put the tunnel assets on a firm financial footing. We will be working to assess the best option for the tunnel’s future, including a sale,” Mr Madden said.
“Operationally, the tunnel and Military E-Ramp are performing well with patronage having increased by almost 9 per cent over the past 12 months ending December 2009. We do not intend to make any significant operational changes”.
“We intend to work closely with the management team, the RTA and the State Government to secure a long term sustainable business for what is a valuable asset in
“In the meantime, the tunnel and the Military Road E-Ramp will continue to operate as usual.”
