Tom Stoneham on Nostr: I assume this is not 'too big to fail' like banks but the legal situation being that ...
I assume this is not 'too big to fail' like banks but the legal situation being that - since this is an essential service - if the company fails it goes directly into public ownership (as happened with LNER) rather than bankruptcy. And whoever ends up owning the company - however 'bankrupt' - is still liable for its debts.
Otherwise those creditors would be able to do what they wanted in a bankruptcy fire sale and £16m people would be without water.
Published at
2024-05-28 12:03:38Event JSON
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