Thames Water wins green light for next phase of emergency loan plan

Thames Water has won court approval to pursue the next phase in securing a £3bn emergency loan, with a hearing intended to secure creditor approval scheduled for four days in the first week of February. Setting the date for a sanctions hearing in February, Mr Justice Trower said: "It was not the purpose of today's hearing to say whether this plan should or should not be sanctioned by the court. This is not the time to decide if this proposal is fair or if there is a relevant alternative."

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