Thames Water, the UK's largest water and waste company, is seeking High Court approval for a £3bn emergency rescue plan to avoid running out of cash. The company faces significant debt and has attributed its financial struggles to various factors, including poor regulation, climate change, and management failures. Failure to secure approval could lead to nationalisation, costing the government billions annually.
Thames Water will seek High Court approval for an emergency £3bn rescue plan on Monday in its latest bid to survive ongoing financial turmoil. The UK's biggest water and waste company, which currently has about £17bn worth of debt, is seeking a judge's approval for a restructuring plan in a four-day hearing beginning at the Royal Courts of Justice on Monday.
But regardless of what happens to the company in the future, water supplies to households will continue as normal.The loan is being offered by existing "A class" creditors, who hold around £11bn of the debt racked up by the company.
FINANCE WATER COMPANY NATIONALISATION UK ECONOMY REGULATION
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