British Nuclear Fuels Ltd (BNFL) is now technically bankrupt and unlikely ever to be privatised, according to the Fianna Fail Leinster MEP, Mr Jim Fitzsimons. Mr Fitzsimons, a member of the European Parliament's environment committee, said that a "£9 billion hole" in liabilities had been identified which was believed to stem from the company's clean-up of its Sellafield plant.
BNFL's current liabilities stood at £27 billion sterling, and additional costs of £9 billion would leave it with long-term liabilities of £36 billion which "in reality, will mean that BNFL is technically bankrupt".