Environment Secretary Emma Reynolds has expressed concerns over Thames Water's creditor rescue plan, citing unfair costs to customers and delays to infrastructure and environmental improvements. Special administration is now the most likely outcome, influenced by potential Prime Minister Andy Burnham's preference for public ownership.
UK ministers have objected to Thames Water's proposed £10bn rescue deal, raising concerns about consumer and environmental protection. This move increases the likelihood of the water company falling into a special administration regime, a form of temporary public ownership, as it struggles with billions in debt and infrastructure issues.
UK ministers have raised concerns about a £10 billion rescue package for Thames Water, potentially pushing the company towards government control. The proposed creditor-led deal faces scrutiny over customer burden and environmental protections.
The UK government has objected to a proposed rescue deal for Thames Water, raising concerns it doesn't sufficiently protect consumers or the environment. This move brings the country's largest water company closer to a potential special administration regime, a form of temporary nationalisation, if a viable market-based solution isn't found.
Two investment firms within the Heylo Housing group, backed by BlackRock, have collapsed into administration, putting over £52m in public funds at risk. The Regulator of Social Housing is working to prevent 3,500 homes from moving to the private sector.
Hedge fund Elliott Investment Management, led by billionaire Donald Trump donor Paul Singer, is in talks to rescue UK water company Thames Water. Critics fear the deal could allow pollution and prioritize profit over infrastructure, while the government seeks to avoid a market meltdown.
A rescue deal for Thames Water is at risk due to uncertainty over the UK's next Prime Minister. Creditors led by Elliott Management are negotiating with ministers, but potential successor Andy Burnham's stance on public ownership could derail the agreement.
Karali, owner of the Cote restaurant chain, is close to securing a rescue deal for part of The Real Greek casual dining chain, according to an exclusive report by Mark Kleinman.
