Thames Water set for crucial court ruling

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The story "Thames Water set for crucial court ruling" was covered 14 hours ago by BBC Business, a news publisher based in United Kingdom.

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Thames Water set for crucial court ruling - BBC Business

Quick Summary:

The Court of Appeal is expected to decide whether the company's plan to borrow a further £3bn to avoid collapse can proceed or whether it upholds objections from a small group of creditors and Liberal Democrat MP Charlie Maynard.

New administrators parachuted in to caretake a vast sprawling business would be ill-equipped to take on the task of turning around a company whose new management insists had formulated a clear plan.

The extra money comes from upfront borrowing that the company pays back through customer bills over many years.