The lenders are trying to control Times water It tries to thwart environmental activists by asking the government to prevent them from following up the claims of the Supreme Court.
The creditors condemn the amount of 13 billion pounds by the largest water company in Britain from the ministers that the Environmental Agency (EA) order to give priority to “improving the environment on the punitive application” – which they believe “will greatly reduce the risk of activists who bring judicial reviews or special prosecutions.
“This step” will undermine one of the primary wedding rooms of democracy “and urged the government to reject the demands.
This month, the guardian revealed that lenders had been made A series of requests for leniency from fines and enforcement By EA, Offat and other organizers as part of the stadium to buy and transport the troubled company.
The documents that the Guardian sees show a specific condition aimed at neutralizing the risks of activists who bring a judicial review or civil lawsuits.
“There are high risks of activists/environmental interest groups that bring judicial review procedures against any decision by EA to relax or postpone compliance obligations or agree to not prosecute the company because of the violation of the law,” the creditors’ plan states.
“There is also a strong possibility for those groups that support individuals by providing special prosecutions against the company,/or its managers and senior officers.
“The risk of such a procedure and its results, which are clearly harmful to a sustainable recovery of water companies, can be dramatically mitigated by the clear government direction to EA and a clear framework for determining the priorities of improving the environment on punitive implementation (the latter that had no positive or non -environmental beneficial).”
They also suggest that the government can pay emergency legislation to prevent legal measures.
Steve Reed, the fate of the Times Water in the scale after the Minister of Environment, Steve Reed, was Parliament on Thursday that the government was. Extract preparations for temporary nationalization and American private stock company KKR left auction The company.
The lenders argue with protection from enforcement and legal procedures vital so that criticism does not leak from work and the Times escapes from the “perishing cycle” from weak performance. They offer pieces Some of the company’s debts offer 5.3 billion pounds New financing in return.
If the government imposes a special system for management (SAR), which is mainly a temporary nationalization, it will require a large part of the Times debts of 20 billion pounds.
A group of about 100 creditors, including big, founding investors such as Aberdeen, Black Rock, Nio, M&G, and American hedge boxes such as Elliott Investment Management and Silver Point Capital, are trying to avoid huge losses by developing their company’s transformation plan.
The lenders also want to reflect 254 million pounds of fines and penalties imposed on the Times over the past two years.
These are included in May – 104.5 million pounds for the failure of “important” wastewater and wastewater and 18.2 million pounds to pay illegal profits – And 131.3 million pounds from the tax losses that the Times transferred to its mother company, which Offat said he would return again.
Liberal Democratic Representative Witness in Oxfordshire, Charlie Mainard Challenge the Times water in the Supreme CourtIncluding an attempt to prevent a 3 billion high -use rescue loan from creditors.
Mainard said: “The Times Witr Cultivation is trying to dictate government policy and monotheism. The regulatory authorities. Steve Reed should not back down from these demands.
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“If the company ends in the private management, the eagle funds will be the one that will lose billions of dollars, and the 16 million Times Water customer will be released from a mountain of debt and the company will be more able to start fixing its problems.”
Sharkey said: “It was not limited to the pollution of our river, or the accounts of the bills raised from the RAM for money. Rather, it is now trying to undermine the basics of democracy itself: the right to freedom of expression, ask questions, opposition and demand justice.
“The ability to apply for a judicial review is one of the primary cornerstone of democracy. As democracy, we are fully dependent on people’s ability to transfer the government and Guangus to the Supreme Court to obtain this level of scrutiny from the judiciary.
A spokesman for the creditors said: “There is a need for broad organizational support to cancel a market -led solution for the Times water that will secure billions of pounds from the new investment of the aging network, allowing the global leadership team to start intensive transformation and provide better results for customers and the environment.”
“The government will always work in the national interest on these issues,” said a spokesman for the Ministry of Environment, Food and Rural Affairs.
“The Times must meet the water of its legal and regulatory obligations towards its customers and to the environment. It is right for the company to undergo the same consequences as any other water company.
“The company is still financially stable, but the government has climbed our preparations and stands ready for all possibilities, including the special management system if necessary.”
A Times spokesman said: “The Thames is committed to improving the results of the environment and its customers. We are investing billions of pounds in our network and any re -drawing of businesses will need to confirm this in favor of all our stakeholders,” said a Times spokesman.
“Our focus remains on a comprehensive and basic drawing, which provides a solution led by the market, which includes targeting the credit category category. In order to be investigative, we and potential investors need to participate in discussions with our organizers.”
“We are evaluating whether the plans are realistic and delivered and will bring great benefits to customers and the environment,” said an OffAT spokesman.
