to the court for this assertion was the decision of the rail regulator – announced on 22 September 2002 – to carry out an interim review of the company's finances, with the potential to advance significant additional sums to the company. The High Court accepted that the company was not therefore insolvent, and the railway administration order was discharged on 2 October 2002. Transfer of assets to Network Rail Network Rail was formed with the principal purpose of acquiring and owning Railtrack plc. Originally the Government allowed private companies to bid for Railtrack plc. However, with limited availability of financial data on Railtrack, the political implications of owning the company and the very obvious preference of the government that the national railway network should go to Network Rail, no bidders apart from Network Rail were forthcoming, and Network Rail bought Railtrack plc on 3 October 2002. Railtrack plc was subsequently renamed to Network Rail Infrastructure Limited. Network Rail's acquisition of Railtrack plc was welcomed at the time by groups that represented British train passengers. The attitude of Railtrack's customers – the passenger- and freight-train operators – was much more cautious, especially as they were wary of a corporate structure under which shareholders' equity was not at risk if the company's new management mis-managed its affairs. Liquidation On 18 October 2002, Railtrack's parent company, Railtrack Group, was placed into members' voluntary liquidation as RT Group. The Railtrack business (and its £7 billion debt) had been sold to Network Rail for £500 million, and the various diversified businesses it had created to seek to protect itself from the loss-making business of running a railway were disposed of to various buyers. £370 million held by Railtrack Group was frozen at the time the company went into administration and was earmarked to pay Railtrack shareholders an estimated 70p a share in compensation. The Group's interest in the partially built High Speed 1 line was also sold for £295m. During December 2002, Railtrack Group was delisted from the London Stock Exchange; that same month, the company announced an agreement to sell its remaining property interests, RT Group Developments, to the property developer Hammerson in exchange for £63 million. Compensation Litigation In late 2001, Railtrack shareholders formed two groups to press for increased compensation. A lawyer speaking for one of those groups remarked on GMTV that his strategy was to sue the government for incorrect and