Thames Water wins court approval to secure ‘critical’ £3bn cash lifeline

Demonstrators outside the Royal Courts of Justice in London on Tuesday. Photograph: Mina Kim/Reuters

Thames Water has won court approval to secure a £3bn cash lifeline from some of its biggest creditors.

The company will need to hold a formal vote to win support from the majority of creditors in January, before its deal is rubber-stamped by the courts in February.