§ Mr. BercowTo ask the Chancellor of the Exchequer what assessment he has made of the loss to UK pension funds of the suspension of shares in Railtrack. [8394]
§ Mr. Andrew SmithThe value of Railtrack shares at the time of administration was around £1.5 billion, and no institutional investor held more than 5 per cent. of the shares at the time of administration.
The Government are actively working with the board of Railtrack Group to assist shareholders in achieving fair value for assets they hold.
§ Mr. BercowTo ask the Chancellor of the Exchequer when he was told that a decision had been taken that Railtrack was to go into administration. [8395]
§ Mr. Andrew SmithThe Chancellor was informed of the decision that Railtrack would go into administration on Friday evening, 5 October.