|
|
| Re: MCI sole bidder for all 160 NJT CNG coaches (283300) | |||
 |
|||
| Home > BusChat | |||
|
[ Read Responses | Post a New Response | Return to the Index ] |
|
||
|
Re: MCI sole bidder for all 160 NJT CNG coaches |
|
|
Posted by kcram3500 on Thu Sep 5 12:06:57 2013, in response to Re: MCI sole bidder for all 160 NJT CNG coaches, posted by RailBus63 on Thu Sep 5 09:24:37 2013. If NJT accepted a bid for all 160 units, the DesignLine contract has been defaulted. NJT wouldn't be able to amend the bid request for all 160 unless that had occurred. Such a situation would not have been made public, although it may later appear in the bankruptcy filing.As for NJT being a creditor, they are also a debtor. The $3.6 million DL owes NJT is the late fee for missing deadlines, but NJT owes DL for the buses that were delivered and placed in service. Recall that buses are normally not paid for until the completion of the contract - DL can now request payment or return if DL ends the contract. Once the NJT board signs off on the MCI contract, it's possible that MCI will quickly produce 13 buses to allow NJT to remove the DLs that now have mileage from service. Those DLs can then either be returned to DesignLine, traded to MCI, or sold directly by NJT. |
|
|
|