Clifford Chance

Court of Appeal explains its reasons for upholding Thames Water plan

16 April 2025

We already knew the outcome of the Court of Appeal’s decision to uphold Thames Water restructuring plan provided on 17 March. 

On 15 April, the Court of Appeal provided its reasons for doing so. We understand that the Court of Appeal has allowed the parties until 25 April to apply for Permission to the Supreme Court, should they wish to challenge the restructuring plan. Overall, the decision reinforces the flexibility of restructuring plans as a tool for companies seeking to restructure, emphasises the court’s critical oversight role in ensuring equitable outcomes for the parties involved, and clarifies the limits of the issues that the Court will have within its contemplation.

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