Tunnel goes under
`The owner of Sydney’s controversial Cross City Tunnel has been placed into receivership with debts of $560 million.
Receivers and managers have been appointed to Cross City Tunnel Motorway Ltd, owner and operator of the tunnel.
The cash-strapped tunnel consortium was due to make a massive interest payment by Saturday.
With barely one-third of the expected 90,000 cars passing through each day, the tunnel did not earn enough to cover the interest payments.’