A group of Thames Water’s creditors and others are appealing against a decision by the High Court to sanction a plan to keep the company afloat.
A group of creditors are appealing the High Court's approval of Thames Water's restructuring plan, which provides a £3 billion loan, arguing the terms are "mispriced and inappropriate" and favors senior lenders. They claim the judge failed to consider fairer alternatives and the impact on customers, suggesting special administration would be a better course. Thames Water maintains the restructuring is necessary to avoid running out of money and entering special administration, and that the judge's sanction was a complex and justified decision.
