Videlli Limited

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Videlli Limited
Private
Predecessor ERG Group
Founded 2008
Headquarters Melbourne, Victoria[1]
Website http://www.videlli.com
ERG smart card reader in Moscow bus

Videlli Limited (formerly ERG Group) is an Australian company that previously developed automated fare collection for transit systems. The name change was put into effect on 9 March 2009 as part of a major corporate restructure.[2] To pay its debts, incurred as a result of the terminated Tcard contract, Videlli sold its operating assets to Vix Technology on 31 December 2008.[3] The restructure left Videlli with the potential return from its Tcard litigation as its only asset.[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[edit]

The contract to develop the Tcard system for the New South Wales Public Transport Ticketing Corporation (PTTC) was terminated by the New South Wales government on 23 January 2008. The government announced their intention to recover the project costs from ERG.[4]

Videlli lodged a countersuit in May 2008 to recover over $200 million in costs.[7]

The NSW government was allowed to withhold some evidence in the case.[8]

The litigation was settled in February 2012. Videlli paid an additional $5 million in addition to the $27 million previously recovered by the government.[9][10]

References[edit]

  1. ^ "Company profile". Videlli. Retrieved 19 April 2018. 
  2. ^ "Completion of Restructure and Change of Name". Retrieved 30 November 2011. 
  3. ^ "Restructure Update". Retrieved 30 November 2011. 
  4. ^ a b "Dumped Tcard firm fires back". Sydney Morning Herald. 24 January 2008. 
  5. ^ "Videlli Limited - Company Profile and Status". deListed. Retrieved 1 December 2011. 
  6. ^ "Financial Report For the Year Ended 30 June 2013". Videlli.com. Videlli Limited. 26 September 2013. Retrieved 5 July 2017. 
  7. ^ "ERG Lodges Tcard $200m Defence and Counterclaim". Videlli Ltd. Retrieved 30 November 2011. 
  8. ^ "Smartcard court case could catch cabinet". Sydney Morning Herald. 8 December 2010. Retrieved 30 November 2011. 
  9. ^ Settlement of T-Card Litigation (PDF), 21 February 2012, retrieved 7 June 2012 
  10. ^ 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.