Videlli: Difference between revisions
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== Tcard lawsuits == |
== Tcard lawsuits == |
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ERG had a contract with the New South Wales Public Transport Ticketing Corporation (PTTC) to develop the [[Tcard]] system. The contract was terminated by the New South Wales government on 23 January 2008, and the government announced their intention to recover the project costs of $90 million from ERG.<ref name=sole-asset>{{cite news|url=http://www.smh.com.au/news/national/dumped-tcard-firm-fires-back/2008/01/24/1201025082684.html|title=Dumped Tcard firm fires back|work=Sydney Morning Herald | date=24 January 2008}}</ref> |
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ERG lodged a [[countersuit]] in May 2008 to recover over $ |
ERG claimed that its failure to implement the contract in a timely manner was due to the unanticipated fare complexity of Sydney's existing magnetic-stripe ticketing system,{{cn|date=February 2018}} and lodged a [[countersuit]] in May 2008 to recover over $215 million in costs.<ref>{{cite web | title=ERG Lodges Tcard $200m Defence and Counterclaim | url=http://videlli.com/news/details.asp?newsid=45 | publisher=Videlli Ltd. | accessdate = 30 November 2011}}</ref> |
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The NSW government was allowed to withhold some evidence in the case.<ref>{{cite news| title=Smartcard court case could catch cabinet|url=http://www.smh.com.au/business/smartcard-court-case-could-catch-cabinet-20101207-18ofc.html | work=Sydney Morning Herald | date=8 December 2010 | accessdate=30 November 2011}}</ref> |
The NSW government was allowed to withhold some evidence in the case.<ref>{{cite news| title=Smartcard court case could catch cabinet|url=http://www.smh.com.au/business/smartcard-court-case-could-catch-cabinet-20101207-18ofc.html | work=Sydney Morning Herald | date=8 December 2010 | accessdate=30 November 2011}}</ref> |
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The |
The case was settled in February 2012, with the government keeping the $27 million security deposit and Videlli paying a further $5 million in settlement.<ref>{{citation|url=http://www.videlli.com/include/displayFile.asp?nid=128&fid=97|format=PDF|title=Settlement of T-Card Litigation|date = 21 February 2012|accessdate=7 June 2012}}</ref><ref>{{cite web|last1=Berejiklian|first1=Gladys|title=Press release: CLEANING UP LABOR’S MESS: LONG-RUNNING TCARD LEGAL DISPUTE SETTLED|url=http://www.transport.nsw.gov.au/sites/default/files/b2b/releases/20120217-card-case-settled.pdf|website=Transport for NSW|publisher=NSW Government|archiveurl=https://web.archive.org/web/20170626054606/http://www.transport.nsw.gov.au/sites/default/files/b2b/releases/20120217-card-case-settled.pdf|archivedate=26 June 2017|date=17 February 2012}}</ref> Both sides bore their own legal expenses.<ref>{{cite news|url=http://www.smh.com.au/it-pro/government-it/tcard-battle-settled-out-of-court-20120217-1tegm.html|title=Tcard battle settled out of court|publisher=Fairfax | date=2012-02-18}}</ref> |
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==References== |
==References== |
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Revision as of 06:17, 2 November 2018
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| Company type | Private |
|---|---|
| Predecessor | ERG Group |
| Founded | 2008 |
| Headquarters | |
| Website | http://www.videlli.com |
Videlli Limited (formerly Energy Research Group or ERG Group) is an Australian company that previously developed automated fare collection for transit systems.
To pay its debts, incurred as a result of the terminated Tcard contract, ERG sold its operating assets to Vix Technology on 31 December 2008.[2] The sale left ERG with the potential return from its Tcard litigation as its only asset.[3]
ERG changed its name to Videlli with effect on 9 March 2009 as part of its restructure.[4] Videlli was delisted from the Australian Securities Exchange on 30 June 2009.[5]
Videlli retained a minor shareholding in Vix Technology, finally sold to Vix Holdings Ltd for $5 million in 2013. The one ordinary share had previously been reported in financial statements as having no value.[6]
Tcard lawsuits
ERG had a contract with the New South Wales Public Transport Ticketing Corporation (PTTC) to develop the Tcard system. The contract was terminated by the New South Wales government on 23 January 2008, and the government announced their intention to recover the project costs of $90 million from ERG.[3]
ERG claimed that its failure to implement the contract in a timely manner was due to the unanticipated fare complexity of Sydney's existing magnetic-stripe ticketing system,[citation needed] and lodged a countersuit in May 2008 to recover over $215 million in costs.[7]
The NSW government was allowed to withhold some evidence in the case.[8]
The case was settled in February 2012, with the government keeping the $27 million security deposit and Videlli paying a further $5 million in settlement.[9][10] Both sides bore their own legal expenses.[11]
References
- ^ "Company profile". Videlli. Retrieved 19 April 2018.
- ^ "Restructure Update". Retrieved 30 November 2011.
- ^ a b "Dumped Tcard firm fires back". Sydney Morning Herald. 24 January 2008.
- ^ "Completion of Restructure and Change of Name". Retrieved 30 November 2011.
- ^ "Videlli Limited - Company Profile and Status". deListed. Retrieved 1 December 2011.
- ^ "Financial Report For the Year Ended 30 June 2013". Videlli.com. Videlli Limited. 26 September 2013. Retrieved 5 July 2017.
- ^ "ERG Lodges Tcard $200m Defence and Counterclaim". Videlli Ltd. Retrieved 30 November 2011.
- ^ "Smartcard court case could catch cabinet". Sydney Morning Herald. 8 December 2010. Retrieved 30 November 2011.
- ^ Settlement of T-Card Litigation (PDF), 21 February 2012, retrieved 7 June 2012
- ^ Berejiklian, Gladys (17 February 2012). "Press release: CLEANING UP LABOR'S MESS: LONG-RUNNING TCARD LEGAL DISPUTE SETTLED" (PDF). Transport for NSW. NSW Government. Archived from the original (PDF) on 26 June 2017.
- ^ "Tcard battle settled out of court". Fairfax. 2012-02-18.