Thames handed £3 billion lifeline by court to save it from collapse

Thames Water was handed a £3 billion lifeline today after the High Court approved its plans for an emergency restructuring.In a lengthy ruling Mr Justice Leech said the stricken utility could press ahead with the scheme, which will save it from imminent financial collapse next month.The plan will provide £1.5 billion of immediate life saving funding, with a further £1.5 billion potentially available on a 9.75% interest rate.