Environmental campaigners argue it makes more sense for debt-laden utility to be temporarily renationalised
Thames Water faces a fresh courtroom challenge to its efforts to raise an emergency loan worth up to £3bn, with environmental campaigners pressing the case that it makes more sense for the debt-laden utility to be temporarily renationalised.
The deal is already being challenged in court by a different group of class B creditors, who are offering a cheaper deal. The class Bs argue that if their arrangement is not approved, they would be better off under the special administration regime. If the government or Thames Water were to call for special administration, then an intermediary, usually a licensed insolvency practitioner, would take over the running of the company.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Thames Water Accused of Misspending Environmental FundsThames Water, a major UK water provider, is facing accusations of diverting millions of pounds earmarked for environmental clean-up projects to other expenses, including bonuses and dividends.
Read more »
Junior Bondholders Accuse Senior Creditors of Predatory Tactics in Thames Water Rescue PlanA group of junior bondholders at Thames Water has challenged the proposed £3bn emergency loan from senior creditors, alleging predatory conditions and an attempt to circumvent regulatory oversight. The bondholders are seeking court approval for their own rival plan, raising concerns about the company's financial stability and the potential for nationalization.
Read more »
Thames Water: MP slams 'outrageous sewage dumping''Loo paper' and 'what looks like condoms' were visible in the water, says the MP in a video.
Read more »
Estimated cost of Thames Water renationalisation questionedUsing government loans to Bulb as a comparison gives exaggerated forecast, experts claim
Read more »
Residents Accuse Thames Water of Ignoring Months of Complaints Before Burst PipeResidents in Caversham Heights, Berkshire, have accused Thames Water of failing to address their concerns about water leaks and potential problems in the area for months before a burst pipe caused a road collapse and water outages. While Thames Water claims to have investigated previous reports, residents say they were left without adequate communication and support.
Read more »
Environmental disparities found in drinking water contamination across the U.S.Nearly a third of people in the U.S. have been exposed to unregulated contaminants in their drinking water that could impact their health, according to a new analysis by scientists at Silent Spring Institute.
Read more »