The 44422 LOCOMOTIVE FUND

 1st March 2010

 STATEMENT

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Supporters of 44422 may be aware of recent critical statements by the Churnet Valley Railway concerning our locomotive, including one, in particular, by our own Chairman in his role as Chairman of the CVR PLC. Your committee finds this all very regrettable and feels it must respond in order to protect the reputation of the Fund and in the best interests of the locomotive.

The CVR requested to hire 44422 for the 2009 season, which was agreed to by the Fund, and following a joint inspection on arrival, the locomotive was passed fit for service on the railway. After a period in service it was subsequently removed from the CVR for repairs following serious damage to one piston assembly and motion. An independent review of the damage by a well respected independent locomotive engineer confirmed that the damage was caused by water in the cylinders, and that it could only have occurred during operation on the CVR.

The subsequent dispute with the CVR over responsibility for this damage, for the cost of rectification, for transport costs and also for the payment of hire fees that were, and remain, greatly overdue from before the engine was damaged, meant that your committee had no alternative other than to withhold the locomotive from returning to the CVR. We are sure you can all understand that this decision was not taken lightly, especially as the locomotive and railway share so much history.

Your committee will continue to pursue these outstanding debts and is very disappointed to find itself in this position. On a positive note, we are pleased to record that 44422 is presently enjoying a very successful stay on the Nene Valley Railway, where the merits and usefulness of the locomotive are well appreciated by our hosts.