Lenders seeking to take over Thames Water have requested that the environment secretary grant immunity from prosecution for serious environmental violations. This request, if approved, would prevent the Environment Agency from enforcing penalties for breaches of environmental regulations. Thames Water has a history of environmental offenses, which have incurred substantial fines. Current bidders are worried about political influences and the asset condition. If the acquisition fails, Thames Water, burdened with significant debt, may face state ownership, which the treasury aims to avoid.
Lenders are demanding Thames Water and its management be granted immunity for environmental crimes as a condition for acquiring the struggling utility.
Creditors warn that without leniency from environmental fines, Thames Water may enter a doom loop, unable to recover financially.
Collection
[
|
...
]