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Podcast: レアジョブ英会話 Daily News Article Podcast
Episode: UK’s biggest water company seeks court approval for emergency funding to prevent nationalization
Description: Thames Water, which serves 16 million customers in and around London, is seeking court approval for up to 3 billion pounds ($3.7 billion) of emergency funding to prevent the cash-strapped company from falling into government administration.
The High Court in London began a four-day hearing on the financing package, with Thames Water facing off against smaller creditors who complain that the deal is too expensive and favors bigger investors. Creditors holding about 90% of the company’s debt have already backed the deal.
Without the funding, Thames Water will run out of money in March, which could force the government to temporarily nationalize the co...