Thames Water, the UK's largest water company, faces a cash crisis, projected to run out of funds by March 24. The High Court is reviewing a restructuring plan crucial for the company’s survival, which includes a £3 billion investment from creditors. MP Charlie Maynard has criticized this approach, advocating for administration instead, suggesting it fails to address long-term sustainability. As Thames Water serves millions and holds significant infrastructure, legal counsel emphasizes that the risk of operational cessation is unacceptable, heightening the urgency for court approval.
Thames Water is set to run out of cash by March 24, with restructuring plans in jeopardy, urging immediate action to maintain essential services.
The High Court hearing is crucial as Thames Water Utilities Holdings Limited risks entering administration unless a £3 billion plan is approved.
Opposition from MP Charlie Maynard emphasizes concerns over the restructuring plan being a temporary fix detrimental to customers and taxpayers.
TWUH's Tom Smith warns that rejecting their plan poses significant risks to cash flow, potentially endangering operations crucial for millions.
Collection
[
|
...
]