Silver lining?
Interesting developments in the Crossrail project highlights a very interesting scenario; due diligence has resulted in a re-think over the delivery methodology for rolling stock.
We should applaud Crossrail in taking stock of the situation and reviewing the financing arrangements before completing a PFI arrangement. Whilst much maligned PFI arrangements must be judged on each situation. What is perhaps puzzling is that in this instance a change in financing arrangements might delay the delivery of rolling stock; are there that many of providers of rolling stock? It might however create problems in the procurement process as it is a fundamental change to the process and may result in the need to re-compete. In this situation legal advice is absolutely essential.
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