Thames Seeks Options With Creditors After Board Members Quit
- Thames Water is engaging with creditors to explore all options
- Creditor group has appointed Freshfields as its legal adviser
Engineers' vans parked at a Thames Water pumping station in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The parent company of Thames Water is exploring all options with a group of creditors after a series of board resignations.
Two directors resigned from Thames Water (Kemble) Finance and several quit from Kemble Water Finance Limited, two of the units that make up the firm’s complex holding structure. Paul O’Donnell and Nick Pike, both restructuring experts, have been appointed to help engage with creditors and assess options for the company, according to company statements on Monday. Meanwhile, a group of creditors has appointed Freshfields Bruckhaus Deringer as its legal adviser.