I touched on this company in my article on monopolies over at LibertarianUK some weeks ago.
Metronet is/was NOT a proper private company at all. It was a consortium, nay, cartel inside an umbrella corporation, a private company operating with a State mandate. A monopoly of the worst kind.
The cartel behind it should pay back what is owed. It is a disgrace that the cartel members were able to suck so much money out of the organisation via the "contracts" they gave themselves.