The utility – England’s biggest water company – had a restructuring scheme involving up to £3 billion in loans sanctioned on Tuesday.
Thames Water, England's largest water company, secured approval for a restructuring plan involving up to £3 billion in loans to avoid imminent financial collapse. A group of Class B creditors proposed an alternative plan, arguing it offered better economic terms, but the High Court ruled against presenting it to creditors, deeming it impractical. The Class B creditors and Liberal Democrat MP Charlie Maynard are challenging the approval of the original plan at the Court of Appeal. The parent company and Class A creditors opposed the alternative plan, deeming it unfeasible.
