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Thames Water secures court approval for financial restructuring

Thames Water has received court approval for a financial restructuring plan, ensuring the company can operate until 2026 amidst its £16 billion debt crisis.
The plan includes a loan of up to £3 billion with a 9.75% interest rate, as stated by Mr Justice Leech, who approved the company plan.
Thames Water Chief Executive Chris Weston affirmed that this decision is positive for customers and allows continued investment in critical infrastructure.
The High Court's decision was based on the public interest in maintaining essential services, as articulated by Mr Justice Leech.

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Channel 4

Thames Water £3bn bailout ‘massive injustice’, say campaigners

Thames Water faced going under next month unless it was allowed to borrow more money and today a high court judge ruled that it would be allowed to do that while it seeks new investors.

4 days ago·London, United Kingdom

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The London Economic

Thames Water has £3bn emergency loan approved by High Court

The High Court has approved an emergency £3bn debt package for Thames Water, keeping the company afloat for another few months.

4 days ago·London, United Kingdom

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Swindon Advertiser

Thames Water secures £3bn lifeline despite plans to increase bills

Swindon's water supplier Thames Water is set to be loaned billions of pounds at the same time the company seeks to hike prices.

4 days ago·Swindon, United Kingdom

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The Epoch Times

Thames Water Restructuring Approved by High Court Judge

Plans to restructure Thames Water through a loan of up to £3 billion have been approved by a High Court judge, allowing the struggling utility to stay afloat just weeks before it was set to run out of money. Thames Water Utilities Holdings Limited (TWUH), the parent company of Thames Water Group, England’s biggest water company with about 16 million customers, is in around £16 billion of debt and needs £3.3 billion over the next five years to ke…

4 days ago·New York, United States

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Associated Press News

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abc News

Judge approves emergency plan to keep Britain’s largest water company afloat

LONDON — A judge approved an emergency plan today to keep Britain’s largest water company afloat, averting the possibility of a temporary government takeover.

4 days ago·United States

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