UK’s biggest water company seeks court approval for emergency funding to prevent nationalization

Thames Water, serving 16 million customers, is seeking court approval for up to £3 billion in emergency funding to avoid government administration. Facing £17 billion in debt, the company is in dispute with smaller creditors over the deal, although 90% of debt holders support it. If funding isn’t secured, Thames Water could face temporary nationalization. The company, criticized for poor investment and high payouts, has been under pressure for rising bills and infrastructure improvements.