Thames Water

Not possible with Thames Water.

But there are no future earnings if they go bust and the govt takes them over so that the custormers still get water and have their sewerage removed.

When a creditor doesn't receive the expected/contractual interest payment he can call in the receivers. A lender can soon access the secured assets.

Perhaps English isn't your first language. The articles I have posted, and there are many more, say that the various loans made to Thames Water are secured. That means there is a form of security.

Feel free to cite any article that says there is no security for all these loans.

Not so long ago you said bullshit to such a similar suggestion.

There is no sham in reducing tax.

While you are in part correct that OFWAT and Secretary of State can block the realisation of the secured assets, in reality various rights legislation will kick in, in much the same way Human Rights Act 1998 limits how the government behaves in proposed leasehold legislation.

Some lawyers will get very rich if the government strips any right to lenders to access those secured assets.

Fredxx snipped-for-privacy@spam.invalid wrote

They need to get a court order for a windup unless the operation chooses to voluntarily go into administration.

Not with the assets that Thames Water has. Not even with the buildikngs used by the paper shufflers.

Just because some fool journo claims something...

If there is, that would be listed in their annual reports and it is STILL very far from clear that in the event of them going bust that the lender can actually take possession of that security and sell it off for property development etc let alone whether anyone would have any interest in what security was provided.

You made your pig ignorant claims about what could happen with security.

You get to provide the evidence that that is even possible with what Thames Water may have used as security.

THATS how it works.

Quite apart from what the govt would actually be stupid enough to allow if Thames Water did actually go bust.

There you go, lying thru your f****ng teeth as always when you have got done like a f****ng dinner, as always.

Corse there is when you shift the earnings to a tax haven, f****it.

BULLSHIT with the assets that Thames Water has.

More mindless pig ignorant silly stuff, your trademark.

Well, possibly. But it's a daft lender that enters into that sort of agreement.

As others have said, there is the not inconsiderable income from water rates. But whether that covers operating costs and just standing still remains to be seen.

Yes, there is that. We'll see, hopefully.

Businessmen don't lend money without having a business case presented to them.

RJH snipped-for-privacy@gmx.com wrote

Certainly actually.

There is no alternative with an operation like Thames Water which has few assets which can be used as security that the lender can just grab and sell off if Thames Water goes bust.

No point in using the sewerage farms as security given that if Thames Water does go bust, the lender can't just grab the sewerage works, bulldoze the lot and flog the land for housing estates or industrial land for building etc.

Same with the mega sewer. The lender would never be allowed to just grab it and start building new underground residential apartments in it and no one else would want to buy it.

But if Thames Water does go bust, that income would not become available to the lender.

That's not seizing the security, that's the lender becoming Thames Water, something that they have no expertise in running, let alone in continuing the infrastructure upgrades and isnt even legal possible to have written into the loan agreement.

The govt can certainly just grab Thames Water and bail it out like they did with RBS bank when the s*it hit the fan very spectaculary indeed in the 2008/9 mega stupidity and the current shareholder get to like that or lump it.

That isnt even possible with an operation like Thames Water and most of the loads were in fact just another tax dodge sham so the profits could be shunted off to a tax haven.