It seems as though a sensible decision has been made, as it was announced this week that Metronet will remain under the management of LUL. It's recent transition to LUL had been on a temporary basis but will now be ongoing. The Department for Transport has a press release on this issue:

Transport Secretary Andrew Adonis and Mayor of London Boris Johnson today confirmed that the tube improvement contracts inherited by Transport for London (TFL) on an interim basis after Metronet’s collapse will remain permanently under the direct management of London Underground Ltd (LUL).

It's not all good news though.....

LUL will remain responsible for all asset management decisions, but there will continue to be substantial private sector involvement through the contracts managed by LUL.

More Information is available on the Department for Transport website.