The company that owns the cross city tunnel in Sydney was placed in voluntary administration on Friday.
Cross City Motorway is owned by the Royal Bank of Scotland, EISER Infrastructure and Leighton Contractors. The 2km tunnel links the western and eastern fringes of the Sydney CBD.
The ABC reports the current owners bought the concession in 2007 after the first owner went into receivership after usage fell well short of traffic forecasts.
Cross City Motorway was in talks to refinance a debt of $US70 million, but chairman Ed Sandrejko said legal action by the New South Wales state government to recover $A64 million in stamp duty made a deal impossible.
The Office of State revenue is claiming the duty over the purchase of the tunnel in 2007.
The ABC reports a court recently ruled the company would not have to pay the stamp duty, but the Office of State Revenue is appealing against that ruling.
