Thames Water Creditors Propose Board Overhaul in £10bn Rescue Bid to Avert Nationalisation

Creditors holding £17bn of Thames Water's £21bn debt proposed replacing chair Sir Adrian Montague with Mike McTighe and appointing Liz Barber, Clive Selley, and Dame Bernadette Kelly as directors. The £10bn rescue bid aims to prevent temporary nationalisation. Campaign group We Own It called it a "cosy stitch-up." Andy Burnham's government is weighing a special administration regime instead.