On Friday 25 February, 2011 the RiverCity Motorway Board of Directors placed the entire Group into Voluntary Administration with the Lenders placing the Group into Receivership. This includes the Flow Tolling business.
The primary reason for the appointments is the lower than forecast traffic flows through the CLEM7 tunnel. The low levels of traffic are unable to support the debt incurred by the Group to build the tunnel.
For our customers, it's business as usual. The CLEM7 tunnel will remain open and Flow Tolling will continue to provide tolling services to both the CLEM7 and the Go Between Bridge.
For motorists who are casual users of the CLEM7 and Go Between Bridge your travel does not need to change
Any prepaid credit on a FLOW Account remains in your FLOW Account for you to use as normal. This means account holders can continue to travel on any tollway in Queensland or Australia.
You can continue to maintain your FLOW account online at www.flowtoll.com.au or by calling our customer contact centre. Your business is important to us.
Chief Executive Officer
RiverCity Motorway Pty Limited
(Administrators Appointed)(Receivers and Managers Appointed) ACN 116 665 304