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El Zorro’s financial woes resurface

May 29, 2013News

El Zorro’s financial difficulties have surfaced again, with a NSW train leasing company recently making an application to wind up the rail operator.

Documents show Consolidated Rail Leasing filed a petition in the Supreme Court of NSW calling for El Zorro Transport to wind up.

However El Zorro director Ray Evans has played down the financial difficulties, saying that the recent issue is due to Cargill refusing to pay El Zorro for recent work.

He said the refusal to pay has led to a flow on effect, leaving El Zorro creditors out of pocket.
Cargill is one of a number of companies claiming to be owned money by the rail operator.

The latest issue comes as the RTBU NSW Locomotive Division is getting legal advice following El Zorro’s failure to pay full superannuation entitlements to members in December.