London Fire Brigade

Winding up petition against London fire engine company dismissed

07 November 2011

The winding up petitions against the company that runs the London Fire Brigade’s fire engines have today been withdrawn in a hearing at the High Court.

The move follows an agreement being reached between the company and its creditors to write down and restructure the company’s debt. The deal also involves a further investment from existing shareholders.

London Fire Commissioner, Ron Dobson, said:

“It is good news that the financial black cloud that was hanging over AssetCo has finally lifted. There has been a great deal of scaremongering and speculation about AssetCo’s future but throughout the company’s recent financial difficulties, we have been confident that whatever happened, London’s fire engines would remain available.“