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  • by Karma Loveday

Lib Dems press for Thames special administration

Liberal Democrat MP for Richmond Park Sarah Olney presented a Bill last week to require the secretary of state to apply for a special administration order for Thames Water.

The Bill is due to be read for a second time on 21 June.

Olney has previously pressed for the Government to make its Project Timber contingency plan for Thames Water’s failure public, and for special administration to be triggered.

Thames over the weekend had to deal with an outage in Oxford which followed a planned pipe upgrade. Bottled water stations were set up and supplies were restored within 24 hours after teams worked through the night.

Among last week’s press coverage on Thames’ finances were stories about: an insurance firm with a $2bn exposure forming a group with bondholders to protect their interests (Bloomberg); bondholders demanding an emergency summit with company management (FT); Thames break up plans dubbed Project Telford (The Telegraph); and the risk of contagion for wider water investment should Thames investors be left high and dry (general).


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