Thames Water Creditors Push Board Overhaul in £10bn Bid to Avoid Nationalisation

Creditors holding £17bn of Thames Water's £21bn debt want to replace chair Sir Adrian Montague with Mike McTighe and add Liz Barber, Clive Selley, and Dame Bernadette Kelly as directors. Their £10bn rescue bid aims to prevent temporary nationalisation — government takeover of the utility. Campaign group We Own It called it a "cosy stitch-up." Andy Burnham's government may impose a special administration regime instead.