Thames Water has won a crucial High Court battle to secure a £3bn rescue loan, staving off the prospect of the debt-laden company coming under government control. The UK's largest water and waste company was set to run out of cash by the end of March and would have likely been placed into temporary nationalisation to keep services running.

Britain's Thames Water secured court approval for a 3 billion pound ($3.8 billion) debt lifeline on Tuesday, warding off the collapse and state rescue of the country's biggest water supplier.

Thames Water, which serves 16 million customers in and around London, was seeking court approval for billions of pounds in rescue loans to prevent it from being nationalised when it runs out of cash next month.

A rescue deal has been approved by the High Court, but as Sean O’Grady explains, the crisis at the utility is far from over

Thames Water, Britain's biggest water supplier with 16 million customers, secured a 3 billion pound debt lifeline on Tuesday, warding off nationalisation and giving it time to sort out its finances, boosting its chances of survival.

Oxfordshire's water company Thames Water has won approval for a high-cost £3billion loan to save it from collapse, as an Oxfordshire MP hits out against it.