Seasonal Greetings to all Weardale Railway supporters.
You will be pleased to know that the Santa Special services have concluded with excellent results. Most trips were sold out and the passenger feedback is very encouraging. Many thanks to all volunteers who helped out.

  Work Your Pud Off Day
Anyone in need of a little exercise and convivial company on Thursday 28^th can find both at Stanhope Station where a general tidy-up and gossip (in varying proportions) will take place between the service arrivals/departures. All volunteers welcome.

The Weardale Railway Trust was yesterday honoured with the Ian Allan Award for the Best UK Station Preservation Project for 2006 in recognition of the reconstruction work on Stanhope Station canopy.
You can read the full press release here.

The Weardale Railway Trust's steam loco No. 40 (see last month) has completed its testing successfully and began hauling the Santa Special services today. Advance bookings are going extremely well - if you intend using the service you can download a booking form here or visit the Timetables page for more information.

The Weardale Railway Trust held its AGM on Saturday 18th November at Stanhope. A good turnout of members were rewarded with the news that the Trust is in a healthy financial position despite its £30,000 contribution to the rescue fund for Weardale Railways Limited and its recent purchase of No. 40. Membership is rising steadily, and the list of working volunteers continues to lengthen. However if we are to reopen the line between Bishop Auckland and Eastgate in its entirety we will need many more to join them.
Any Trust members available to help with the weekend Santa Special services next month are urgently needed. If you can assist, please phone Stanhope Station, tel. (01388) 526262.
The attendees also heard from John Hummel in his WRLimited report that the sale of the line is now completed apart from the (imminent) paperwork. Only the completion of lease details at the Wolsingham depot now remain to be finalised before the company can finally exit administration, and the creditors will at last be allowed to receive payment. 
The 1400 service to Wolsingham normally sits in Stanhope Station for around half an hour before its departure, but on this occasion it was used to give attending members a preview of the section to Eastgate, though not one American Indian attempted to board at Eastgate! (see News from July 14 / Sept 20 below).
The Christmas Raffle fundraiser normally run by the Trust has unfortunately been abandoned this year following mistakes by the ticket printers. First their delivery was late, then when they did arrive the tickets had "Christmas" misspelled. Anyone unable to contain their disappointment might care to join the "Lottery Raffle" instead. Further details from Arthur Temple, tel. (0191) 5226184.

No. 40 has arrived. The steam loco purchased last month arrived in Wolsingham late yesterday afternoon following its journey from Essex. It is hoped to have it in steam within a week and use it to haul next month's Santa Special services. 
After staying on the transporter overnight it was unloaded and taken to the depot this morning - see below.
During the process a mini-buffet coach arrived for restoration. Further coaches and another steam loco (requiring some refurbishment, e.g. boiler tubes) are expected to arrive over the next week or two.

Narrow gauge railways in the North East of England - If this is a subject of interest to you, you might care to  visit Locomotion the National Railway Museum at Shildon at 11:30am on Saturday 25th November. The Friends of the National Railway Museum North East Branch have organised a talk by David Holroyde and Jim Rees. The FNRM NE and Locomotion are due to take delivery of sections of narrow guage track and may be able to mount a small display to coincide with the event.
The meeting is timed to enable people to travel by train between Darlington and Shildon (for train details phone 08457 48 49 50) Local bus information can be obtained from Traveline 0870 608 2 608. 

Steam returns to Weardale. During the last couple of years certain members of the Trust have spent a great deal of time and effort searching for a suitable operational steam loco to purchase for use on our railway. We are pleased to report that at last they have been successful in purchasing such an engine. No. 40 was built in 1954 in Newcastle by Robert Stephenson & Hawthorns, and has worked this summer season on the Colne Valley Railway. It is hoped to complete all necessary paperwork and transport it to Weardale within the next 2 weeks.

For the full press release click here.

Class 37 fans will be pleased to know that the problems with 37003 have been sorted and it is expected to be running this weekend 14th and 15th Oct. It is also hoped to use it again at the end of the month.

The AGM of the Weardale Railway Trust will take place on Saturday 18th November at 10:30am in St Thomas Church Hall, Stanhope. Trust members wishing to attend are reminded that they must be in possession of a current membership card. If unable to attend in person you may submit a proxy voting paper. Download one here.

The annual Model Railway Exhibition organised by the Weardale Railway Locomotive Preservation Group in association with the Hackworth Society model Railway Cub is to be held in Stanhope Town Hall on 4th and 5th November. Further details here.

Bookings are now being taken for our Santa Special services running each Saturday and Sunday through December . There will be 2 return trips each day except Sunday 24th when there will be only one. Please note that it will be possible to start and finish at Wolsingham only. Further details in the Timetables section or a booking form can be found here.

Have you seen it yet?
The Virgin TV advert filmed at Eastgate in July (see 14 July below) has now hit the small screen. Pity we didn't manage to sneak a Weardale Railway logo in somewhere!

Though the class 37s proved very popular over the last Bank Holiday, there are operational difficulties that mean they are unlikely to be used again in the near future, the normal weekend running being handled by the 141s. 37 fans need to be patient - we do expect to see them in regular use eventually.

2006 Community Rail Festival is almost upon us. If you can visit Bishop Auckland, Darlington or other stations along the line this weekend you will find things to see and do. Full detail at www.communityrailfest.org.uk

Two Weeks of Successful Services
Despite the mixed weather of the last couple of weeks all services operated have proved a financial success, often thanks to the comparatively frugal needs of the 141 units which have performed admirably. The Bank Holiday weekend saw the introduction of Class 37 traction and a rake of freshly refurbished Mk 1 coaches (see below). Although they use fuel at almost 10 times the rate of the 141s their runs were often near capacity. Their appearance was also particularly welcome as  Class 37s hauled the last cement trains from Eastgate before the line's closure in 1994.

 Services will now continue at weekends only for the remainder of 2006. Details of Santa Specials and 2007 running will be reported here as soon as possible.

Normal Service is Resumed
The inspections carried out by HMRI this week have concluded favourably and passenger services will recommence on Wednesday 16th August. See the Timetable section for details.

Whilst volunteer training continues there are still shortages in some areas.
If you can give any time with ticketing duties or shop or cafe assistance please get your details to Ian Gardner (0191) 3710147 as soon as possible.
We also urgently need Track Walkers. This will suit anyone who likes being outdoors/walking - You will need to be fit enough to walk up to 6 miles (could be in 2 days). All of our operational track needs to be walked every week, whatever the weather. This could be a long term commitment but one I am sure you can get much enjoyment from. Other qualities are principally being alert and able to identify changes in the track and surrounding infrastructure. A brief report (on pro-formas) is required on completion. Training and mentoring will be given by Trevor Horner who can be contacted by email: trevorhorner@totalise.co.uk
If you could provide this service for only one section of track (such as Wolsingham to Frosterley) Trevor would still be pleased to hear from you.
Note: All volunteers must be current members of the Weardale Railway Trust for insurance purposes. If you need to join or re-join see the Trust section for details. 

Virgins at Eastgate!!

It came as something of a shock to local people this week to discover that a 4-car Virgin Voyager train was sitting on the line at Eastgate, and a large temporary stable block full of horses had appeared in the adjacent field. It was moved in by road last weekend to make a short film for commercial/business purposes - the firm involved wants to keep things low profile until later in the year, hence the lack of advance publicity.
Weardale Railway staff and Trust volunteers have been very busy helping and facilitating the crew – work which has continued throughout the week. The photo below (courtesy of Gerry Mudd) was taken from the Stanhope – Eastgate main road. Visitors are requested to keep clear of the filming area and under no circumstances attempt to enter the Lafarge (Cement Works) site which is private land, or be tempted to trespass on the track itself. With nearly 8 million pounds worth of train sitting there it should be no surprise that there is a considerable force of extremely large, fit security guards on patrol................

This year's Charity Supper was again held at Locomotion in Shildon on the evening of Friday July 7th. Although we do not yet have an exact figure, this regular fundraising event has once again added a significant sum to our funds, and also raised the profile of our project. Thanks are particularly due to Arthur Temple and his helpers for all the hard work that makes such an event a success.
Thanks are also due to the staff at Locomotion (The National Railway Museum at Shildon) for their co-operation and assistance. If you have not yet visited the museum, why not take a preview at www.sedgefield.gov.uk/locomotion/ 

Volunteer training continues apace. We are intending to open the shop and café at Stanhope Station in another week, so if you can give any assistance in this area please get your details to either Norma Richardson (0191) 3711331 or Ian Gardner (0191) 3710147as soon as possible.

Railfest 06 or to give it its full title: 2006 Community Rail Festival
This event will take place over the weekend 22-24 September and is centred on Darlington with supporting activities at most stations between Bishop Auckland and Saltburn. The Weardale Railway will be involved particularly with the plans for Bishop Auckland. If you want more information now, click here.

At last, the news we've all been waiting for.........

At a meeting yesterday, it was agreed that the operating company Weardale Railways Limited could exit administration and begin trading once again. The intention is to open the shop and café at Stanhope Station for the start of the school holidays next month and resume passenger services as soon as possible, hopefully during August.
The intention is to continue weekend services through the autumn then run Santa Specials and Christmas/New Year services in December and January. Plans for the 2007 season include the re-introduction of steam, launching a luxury Wine & Dine service and improving facilities at Wolsingham Station.

To read the full press release Click Here.

The next WR Trust Open Meeting is scheduled for 1st July at Witton Park Village Hall, starting at 11am. All Trust members are welcome to attend.

The success of our railway will be heavily dependent on volunteer support, so I make no apologies for repeating these two paragraphs from the last news update:

This year's Charity Supper will again be held at Locomotion in Shildon on the evening of Friday July 7th. The £25 tickets are already selling fast. If you want to be there, contact Arthur Temple (0191) 5226184 soon. 

Volunteer training has begun and will become more intensive as we get closer to the opening date. There is still a need for many more people to become involved. If you would like to be part of the railway, either directly in operations or in the depot/rolling stock work please get your details to either Norma Richardson (0191) 3711331 or Ian Gardner (0191) 3710147, but please remember you must be a Trust member to have the necessary insurance cover.

No firm date for services starting yet, but.........

• the funding promised by all parties in the rescue plan is now in place.

• the process of purchasing the line has now resumed in earnest and could be completed in just a few weeks. This will allow the administrator to begin transferring control to the new board of Weardale Railways Ltd.

• Infrastructure maintenance/repairs are progressing well ready for an HMRI inspection.

• Volunteer training is commencing in readiness for a "quick start" to services.

• Negotiations with Lafarge regarding a presence on the Eastgate site are progressing well.

For an honest and accurate appraisal of the current situation read this article from The Northern Echo, April 10th.

This year's Charity Supper will again be held at Locomotion in Shildon on the evening of Friday July 7th. The £25 tickets are already selling fast. If you want to be there, contact Arthur Temple (0191) 5226184 soon. 

Volunteer training has begun and will become more intensive as we get closer to the opening date. There is still a need for many more people to become involved. If you would like to be part of the railway, either directly in operations or in the depot/rolling stock work please get your details to either Norma Richardson (0191) 3711331 or Ian Gardner (0191) 3710147, but please remember you must be a Trust member to have the necessary insurance cover.

The creditors' "cooling off" period has passed without objection so can now assume that Weardale Railways Ltd will come out of administration once the conditions have all been met (such as concluding the line purchase).

Thank you to all Trust Members for their support, now for the tasks ahead

 Since the publication of the Trust’s February  2006 magazine we are pleased to announce that members and friends have already donated over £3,600 either as special donations or as contributions to the ‘Yard of Track’ appeal. This is a great response in a just under a month and we thank all those who have contributed so generously. (This total does not include Trust subscriptions). If you want to download a "Yard of Track" form click here
Now that the handover of the railway is hopefully imminent we have several major tasks ahead before we can restore a service this summer. Key amongst these are the purchase of a steam locomotive , the provision of a passing loop at Wolsingham  and an extension of the facilities at Wolsingham station (office, café, toilets etc).
We have provision which should cover the purchase of a locomotive – although rising costs in a competitive market are a challenge. We hope to start work on the Wolsingham loop as soon as the Network Rail sale documentation is completed. We have the promise of help from the Territorial Army engineers again and together with our own volunteers  and the key WRL project team members we hope to be able to start the work soon, but we do not yet have the full capital sum required for the material costs of the loop and the station facilities.
We are asking members who have yet to donate and those who feel they can afford to help a little more to respond by donating either direct to the Trust , or by a new facility which started last month – a Lottery – a weekly draw which will benefit the Railway  while giving you a chance to win some money. The prizes are not as big as the National Lottery but the odds are better !  

The lottery takes place every week – to win, your numbers need to correspond to the  FIRST THREE NUMBERS DRAWN (before they are arranged in ascending order) in the main National Lottery draw each Saturday.
So, to enter, for  each set of 3 numbers you pick the cost is £1/ week. So if, for example, you wish to enter 1 set of numbers for 10 weeks the cost is £10, for two sets it is £20, etc.
The prize at the start will be £22 and will rise as the take up increases. There will be rollovers in the normal way, if the prize is not won.
To enter please write down as many sets of three numbers as you wish, specify the number of weeks  and send a cheque and your name & address to :-  

Weardale Railway Trust (Lottery)
c/o Denise Thompson
1 Union Lane
Stanhope
Bishop Auckland
DL13 2XA 

+++++++++++++++++++++++++++++++++++++++++++++++++

Press coverage of the role of the railway at Eastgate and Wolsingham
Recently, The Northern Echo published two articles which impact on the Railway, the first covered the planned developments at Eastgate  and the second covered the proposed business/ housing  estate at Wolsingham. Both articles mention the Weardale Railway as part of their rationale. The articles can be found at :-

http://archive.thisisthenortheast.co.uk/2006/3/2/219498.html

 and the second at  

http://archive.thisisthenortheast.co.uk/2006/3/2/219426.html

Weardale Railways and the Heritage Line – cooperation and planned improvements
The Weardale Railway has been a member of the Heritage Line (Darlington – Bishop Auckland) Community Rail Partnership since its inception. The following press excerpt from the Northern Echo gives some details of planned improvements which will affect Bishop Auckland and other stations on the line. This welcome development has our full support and can hopefully tie in with our longer term proposals for a joint facility at Bishop Auckland and our eventual reconnection with the Network. A special Heritage Line ‘RAILFEST‘ is being planned for the weekend of September 23/24 –with activities at most stations – including Bank Top, North  Road and Shildon and an hourly service of trains on the line - details will be posted as they become available.

From THE NORTHERN ECHO 11 March 2006

£247,000 programme to improve railway stations

ALMOST a quarter of a million pounds is to be spent on improving four underused railway stations.
Durham County Council plans to upgrade facilities and improve the appearance of Bishop Auckland, Newton Aycliffe, Heighington and Seaham stations. At a cabinet meeting on Thursday, members approved the £247,000 scheme and pledged to use cash from its local transport plan to carry out the work over the next two years.
Councillors heard that the stations all have outdated waiting facilities, poor accessibility for disabled users and lack security.
About £94,000 will be spent at Newton Aycliffe, £82,000 at Seaham, £47,000 at Bishop Auckland and £24,000 at Heighington.
In addition, £50,000 will be used to install closed circuit television systems at Bishop Auckland and Newton Aycliffe, which will be operated and monitored by Sedgefield Borough Council. The scheme will see new shelters, seating and signs installed, vegetation cleared where it is unsightly or dangerous and improvements to cycle and car parking facilities. New paths and ramps will be installed to make each site more accessible for disabled passengers. The work will similar to the larger-scale scheme carried out at Shildon, in 2004, ahead of the opening of Locomotion: The National Railway Museum.
Councillor Bob Pendlebury, the county council's cabinet member for transport, said: "We want to encourage more use of public transport for all of the usual reasons - for the environmental benefits, to ease road congestion and to sustain the service.
"These stations are not particularly well used, and we want to improve that. If the facilities are nicer, and people feel safer there, we think people will be encouraged to use the railway.
"Lots of different groups are involved in the railway, and we work with them all to make it the best possible service."

The Heritage Line Community Rail Partnership, a team of representatives from local authorities, rail organisations and community groups, was launched last summer in a bid to preserve and improve the 180-year-old Bishop Auckland to Darlington branch line.

A partnership spokesman said: "This is great news for the line, and will boost the work we are planning. Any improvements to passenger facilities and safety can help attract people to the railway, making it a viable service."

Although we have to wait a few more days for confirmation that the operating company have moved into the CVA stage (as explained in the last news report) the following developments can be reported:

The financial liabilities were transferred from the administrators to ECT on 1st February. They are now payrolling the project, and have underwritten any shortfall for the next five years.

The process of purchasing the line from Network Rail has resumed.

The Trust has resumed its search for a suitable steam loco and is actively following up a number of leads.

A small group of volunteers have been working daily on the rebuilding of the canopy at Stanhope Station - to receive the grant awarded it must be completed within the next month. They are confident of doing so, but would welcome extra help.
The picture below shows the main structure completed (the end panels are constructed and will be installed after glazing).
Tiling, glazing and painting are the major tasks remaining.

The recent article from the March issue of Heritage Rail Magazine, reprinted here with their kind permission, gives one of the most accurate summaries of the situation to appear in the press:

COMEBACK PATH CLEARED FOR WEARDALE  

THE Weardale Railway has been given the green light to begin trading again - leading to the prospect of train services being restored by late spring.

As reported in Heritage Railway issue 70, the railway went bust at the end of 2004 with debts of nearly £ 1­million, leading to 36 staff being laid off and services halted after just five months.

Its creditors have now agreed to settle for a dividend of 25p in the pound by way of a Company Voluntary Arrangement, which will pave the way for the railway to begin trading again

A £500,000 rescue package, agreed by local councils and regeneration body One NorthEast, announced on 2 January, will see the line taken over by the Dartmoor Railway operator Ealing Community Transport, which will has 75 per cent of the shares in a reconstituted Weardale Railway company.

The line's supporting body, the Weardale Railway Trust, will have 12.5 per cent of the shares, while backers Durham County Council and Wear Valley District Council will have 6.25 per cent of the shares each.

Dartmoor Railway managing director, John Hummel, said that no decision about when the line will reopen, or the choice of motive power had been taken, but services were likely to be run by a mixture of steam and diesel.

He said that there were currently no plans to relocate locomotives and stock from the Dartmoor Railway to the Weardale Railway, although he did not rule this out.

The Weardale's two class 141 two ­car DMUs, one of which is operation and the other a supply of spare parts may be brought into the equation.

Five miles of the 17^J/4,-mile former­NER line between Bishop Auckland and Eastgate had been brought into service by the time the heritage line' public trains were launched in July 2004. However, HM Railway Inspectorate will now need to give the green light for this section, between Wolsingham and Stanhope, to be used again, because it will have been out of action for around 18 months.

ECT Group chief executive, Stephen Sears, said: "We are absolutely delighted with this result. For more than a year we have been working hard, together with the original funders and partners, to get Weardale Railway up and running again. We believe the railway is a great facility for the community, and will help spearhead tourism and regeneration in the area.

"The members of the Weardale Railway Trust have a phenomenal amount of experience and commitment, which will be invaluable in making a future success of the railway. We are determined to support them with the strategic leadership necessary to ensure the project develops successfully in manageable stages, and we will also be providing practical support such as finance and management systems." 

He said that the line was looking for a late spring or early summer opening, depending on the resources that could be inputted. 

He  added that the handful of staff from the original Weardale Railway who had been kept on under the administrator to keep the infrastructure 'ticking over' would be retained and built up as and when income permitted.

"There is no question that we are going to have to cut our coat to suit our cloth," said Stephen.

"We are not looking at this as a huge money earner but we do not expect to make losses hand over first."

Ian Green and Stephen Ellis of PricewaterhouseCooper, have been appointed joint supervisors of Weardale Railways Ltd following the CVA. Eventually, the administrators will cease to act and the company will operate under the supervision of a new board of directors, which will, it was understood, include three directors from ECT, including Stephen Sears and John Hummel, and representatives of the trust and councils.

County Councillor Brian Walker chairman of the County Durham' Economic Partnership, and the local authority's cabinet member for business and tourism, said he was delighted with the announcement from joint administrator PricewaterhouseCooper that the creditors had agreed to settle.

"The Weardale Railway is a crucial element of our shared plans for the ongoing regeneration of the dale," he said. "Hopefully, today's news means we can now move closer towards achieving the long-term benefits that the railway and its passengers will bring to Weardale and local businesses."

The steps remaining to be followed are:

• A 28 day period until the creditors' decision is irrevocable.
• The funding put in place by the organisations listed in the last report.
• The resumption and conclusion of the line purchase.
• Outstanding repairs and maintenance to infrastructure and rolling stock.
• Training of volunteer crew and support personnel.

Although some of these steps can overlap, the work involved means that a resumption of services to catch the Easter trade is an unrealistic aim. However, with a good response from the Trust's volunteers, trains should be running again early in the summer. In fact ECT has given a commitment that 

                A SUMMER SERVICE WILL RUN IN 2006.

If you want to be part of the line's revival and need further information, please contact Norma Richardson or Ian Gardner. Trust members can access their phone numbers on page 2 of the "Between the Lines" magazine, otherwise email sibgard@aol.com
We need people for all types of jobs. Admin, helping in the shop & café, training staff & people to help in the depot & on the line. Even if you’ve never worked on a railway before, it doesn’t matter as any training required will be given. Even if you can just do an occasional day it all helps.

The actual press releases:

from PwC - 

Ian Green and Stephen Ellis of PricewaterhouseCoopers, the joint administrators of Weardale Railways Limited are pleased to announce that at a meeting held earlier today the creditors of Weardale Railways Limited have formally approved proposals for a Company Voluntary Arrangement (“CVA”). 

Under the terms of the agreed CVA, all creditors will  receive a dividend of 25p in the £ and, if successful, will result in the railway being able to reopen. 

At the same time, Ian Green and Stephen Ellis of PricewaterhouseCoopers have been appointed joint supervisors of Weardale Railways Limited.  In due course the administrators will cease to act and the company will operate under the supervision of a new board of directors. 

Ian Green of PricewaterhouseCoopers in Newcastle, said: 

from ECT - 

ECT Group, a leading social enterprise, can today confirm that a major milestone has been reached on the way to reopening the Weardale Railway in County Durham.  The railway has been in administration for over a year, but today a meeting of creditors formally approved proposals for a Company Voluntary Arrangement (“CVA”), which if successful will lead to the company exiting administration.
ECT has been working with other funders to build a secure future for the project, and will work in partnership with Weardale Railway Trust, a volunteer supporters organisation, to operate and manage the railway.  In due course a new Board of Directors will be appointed, representing ECT, the Trust and the Durham County and Wear Valley District Councils.
Stephen Sears, Chief Executive of ECT Group, says: “We are absolutely delighted with this result.  For over a year we have been working hard, together with the original funders and partners, to get Weardale Railway up and running again.  We believe the Railway is a great facility for the community, and will help spearhead tourism and regeneration in the area.”
Sears continues: “The members of the Weardale Railway Trust have a phenomenal amount of experience and commitment which will be invaluable in making a future success of the Railway. We are determined to support them with the strategic leadership necessary to ensure the project develops successfully in manageable stages, and we will also be providing practical support such as finance and management systems.
“This project is a unique opportunity for ECT to bring a range of it’s strengths to bear in support of a project which is critical to the local community.  With experience both of running a similar rail operation Dartmoor Railway in Devon, and of building successful partnerships with local authorities, ECT is ideally placed to make this project a great success.”
ECT is a fast growing, diverse social enterprise running high quality, value-for-money, community-driven services including streetcare, waste and recycling, public transport, community rail and health services.  As a social enterprise, ECT operates to a triple bottom line of financial, social and environmental objectives. 

from Durham County Council - 

Durham County Councillor Brian Walker, Chair of the County Durham Economic Partnership, and the Council’s Cabinet Member for Business and Tourism said he was delighted with today’s announcement from the Joint Administrators.
“ This is real progress and an important step towards re-opening the railway,” 
He added “The Weardale Railway is a crucial element of our shared plans for the on-going regeneration of the Dale. Hopefully, today’s news means we can now move closer towards achieving the long-term benefits that the railway and it’s passengers will bring to Weardale and local businesses.”

WEARDALE RAILWAYS LIMITED – IN ADMINISTRATION (“the Company”) – UPDATE

The Joint Administrators of Weardale Railways Limited, Ian Green and Steve Ellis of PricewaterhouseCoopers, today announce that they are circulating notice to the Company’s members and creditors, calling a meeting on Friday 27 January 2006 to discuss and approve proposals for a Company Voluntary Arrangement (CVA).

The proposals offer a dividend of 25p in the £ to the unsecured creditors of the Company. Should the CVA proposals be accepted by the creditors, the constitution of the board of the Company will alter and ECT Group CIC will, in due course, become responsible for the operation of the railway, supported by Weardale Railway Trust Volunteers.

The Joint Administrators would like to take this opportunity to thank the creditors, employees and funders for their continued support.

It has only been possible to propose the CVA as a result of the direct support of the following organisations:

·       County Durham Development Company
·       County Durham Economic Partnership
·       Durham County Council
·       ECT Group CIC
·       Government Office North East
·       Northern Rock Foundation
·       One North East
·       Sherburn Stone Company
·       Weardale Railway Trust
·       Wear Valley District Local Strategic Partnership

Commenting on the proposed CVA Ian Green, partner at PricewaterhouseCoopers, said:

    “We and Dickinson Dees, the administrators’ legal advisers, have worked very hard to formulate a proposal that provides the creditors with the opportunity to receive a substantially higher dividend than any alternative solution would have delivered. In addition the proposed CVA will allow the railway to continue to operate, benefiting the local community.”