The company, which is England's biggest water company with about 16 million customers, is in about 16 billion of debt and needs 3.3bn over the next five years to keep running.
Tom Smith KC, for TWUH, told the court that the A plan aimed to provide additional liquidity to act as a bridge before a larger restructuring due to take place next year.
Under this plan, known as the A plan, it could receive a 3 billion loan with a 9.75% interest rate.
The dispute comes as the company faces a decision from regulator Ofwat this week over whether it can increase bills by 59% over the next five years.
Collection
[
|
...
]