Thames Water dismissed effective government ownership after an unsuccessful legal challenge for its financial restructuring.
The Court of Appeals excluded in favor of a £ 3bn loan intended to temporarily sort its finances out, while the company raised more private investment and rejected an appeal.
The ruling supports the Supreme Court Sentence from last month And means that the largest UK’s largest water provider is unlikely to be taken in the coming days after special administration – a form of government control.
Without the loan, Thames Water said it would running out of money on March 24.
The appeal was launched by the Lib Dem -LP Charlie Maynard and a small group of Thames creditors.
The creditors objected to the loan because they were completely eradicated in the financial restructuring.
The company is now struggling under a £ 19bn debt pile. It could no longer obtain investment of existing shareholders Over the high fines, it confronted with the regulator of what for rule offenses.
Monday’s decision was met with dismay of champions.
“As an important public utility serving a quarter of the population, the environmental secretary must take a course for safer waters by putting Thames in special administration and public ownership,” said Matthew Topham the main championship for We Own It, which has campaigns for public ownership of public services.
“Instead, Steve Reed fits almost £ 1bn to households’ cash in the form of interest payments and professional fees by supporting this terrible agreement.”
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