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ONE in four Britons will bear the brunt of Thames Water’s £3 billion bailout plan after the Court of Appeal dismissed an appeal against the fat-cat-backed restructuring deal today.
Campaigners reacted furiously and urged the government to take Britain’s biggest utility firm into public ownership instead of “trying to bail out the Titanic with a thimble.”
In February, a High Court judge sanctioned a plan proposed by Thames Water Utilities Holdings Limited (TWUH), the parent company of Thames Water Group, allowing the heavily indebted utility to stay afloat just weeks before it was due to run out of money.
