British Energy
Under the British Government's restructuring programme the Nuclear Liabilities Fund (NLF) acted as a creditor and liability receiver for British Energy Group. In return, a mechanism was put in place whereby NLF could carry out a cash sweep of the organisation and claim 65% of British Energy's available cash flow each year, on top of a fixed annual contribution. British Energy was allowed to borrow up to £700M under the arrangements, with the NLF providing £275M.