Although ERG Group has threatened a lawsuit to reclaim its AU$250 million losses on the Tcard project, the Transport Minister's office believes the government is in a solid legal position.
ERG Group has today voluntarily suspended its shares from trading on the Australian Securities Exchange while the company works out "issues" related to the termination of its Tcard contract.
Although it is in danger of losing a deal with the NSW government to implement a cashless public transport system in Sydney, automated ticketing company ERG Group believes the project will still go ahead.
Tcard, or some variant of it, is again on the cards as the NSW government looks to its options for getting Sydney's electronic ticketing back on track.
Hopes the TCard debacle might be settled by a meeting of the Public Transport Ticketing Corporation (PTTC) last Friday were dashed yesterday when a spokesperson for the PTTC confirmed it had met, but had not reached a decision.
Chasing Ballmer in Sydney
Where's Ballmer? In this video, ZDNet.com.au journalist Liam Tung chases Steve Ballmer around the stree… Watch it now
NBN needs workers on board
D'Ascenzo: Read p23 of security review
Opening the floodgates on missing drives
'At The Whiteboard' Video Series
Click here to learn more about Microsoft Windows Server 2008 and Hyper-V technology.
Click here for more.
CXO's Unplugged - Real Business Insight
Phil Dobbie interviews business leaders to reveal their thoughts on various management challenges.
Click here to see the latest video.
Printer Superguide
Looking to buy a printer? Our superguide rates the latest printers and shines a light into the industry.
Click here for more.