Source: ABC News
“A judge approved an emergency plan Tuesday to keep Britain’s largest water company afloat, averting the possibility of a temporary government takeover. Thames Water, which serves 16 million customers in and around London, was seeking court approval for about 3 billion pounds ($3.8 billion) in rescue loans to prevent it from being nationalized when it runs out of cash next month. Justice Thomas Leech ruled in the High Court in London that the company’s restructuring proposal was a better alternative for the public than having Thames Water become insolvent and come under government administration, or a competing plan by a small group of investors.” (02/18/25)