Thames Water secures £3bn lifeline after courtroom ruling | EUROtoday

Thames Water has received a vital High Court battle to safe a £3bn rescue mortgage, staving off the prospect of the debt-laden firm coming beneath authorities management.

The UK’s largest water and waste firm was set to expire of money by the top of March and would have doubtless been positioned into short-term nationalisation to maintain companies working.

The courtroom determination on Tuesday has given the provider a monetary lifeline to endure a significant restructure, however the way forward for the corporate stays unsure because it struggles with round £17bn value of debt.

Thames has additionally confronted heavy criticism over its efficiency in recent times following a collection of sewage discharges and leaks.