Thames Water creditors ask for up to 15 years’ leniency from river pollution rules
Lenders say a ‘full return to legal, regulatory and environmental compliance’ under new rescue plan would not be completed until at least 2035-2040
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Thames Water may not fully comply with rules on pollution of England’s waterways for as long as 15 years, according to a new plan by creditors who are scrambling to avoid the utility being forced into government administration.
The creditors who in effect own Thames Water have said they will commit to paying fines for pollution, as well as writing off more of their loans and investing more in the company, in new proposals published on Thursday. Continue reading...