booking ahead

http://business.smh.com.au/weekend-warriors-of

Booking ahead

Duncan Saville is a generous man. How else to explain his goodwill towards the troubled ticketing concern ERG?

ERG shares remain suspended after the NSW Government pulled the pin on the Perth company that has failed to deliver its integrated ticket system, putting question marks over the company's future.

And Saville, who controls 30 per cent of ERG, is doing his bit to keep it going, throwing in a further $15 million in funding and agreeing to suspend interest payments on an $85 million loan until further notice.

ERG is also considering converting some or all of its secured loans from Ingot into equity.

Generous, indeed. Or maybe Saville is looking at issues other than keeping the Tcard programs going.

Like getting some compo from the NSW Government, with ERG seeking damages for breach of contract that may be in the ballpark of $500 million for ditching the Tcard contract.