But ITR's toll revenue didn't meet expectations because traffic fell because of the recession, according to court documents. The company last June missed a debt interest payment. After ITR declared bankruptcy last fall, some critics of privatizing the road said the state should take the road back before conditions deteriorate further. Joe Donnelly, D-Ind. Documents filed in U.
Bankruptcy Court in Chicago say the transaction must be completed by Sept. Indiana Supreme Court Opinion to legal challenges to the long term lease. Skip to content. Center for Innovative Finance Support. The concession agreement establishes toll rates and possible increases and places limits on the return on investment for the concessionaire.
The deal prompted other states to consider similar lease arrangements. However, almost as soon as the deal closed, the United States slid into a deep recession and has been slow to recover from a financial crisis in Traffic volume on the toll road in was Bankruptcy Court in Chicago. Similar privatization deals have also been struggling, including toll roads in California and Texas.
0コメント