Why can't the water companies go bankrupt? | The New Statesman podcast

If Thames Water is placed in special administration, the government will take on the company's debts of approximately 16 billion pounds.

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Privatisation and the pursuit of profit lead to the devastation of England’s waterways. Will Dunn, the New Statesman's business editor, wrote last week's cover story on Britain’s pollution crisis.

In a podcast episode exploring Will's cover story, it was stated that if Thames Water is placed in special administration, shareholders will lose around 40% of their capital and the government will take on the company's debts of approximately 16 billion pounds.

In response, a listener wrote in to ask why aren't the shareholders and bondholders totally wiped out? And why would the government take on the company debts?

Read Will's piece here: https://www.newstatesman.com/environm...

Listen to the Great Stink episode here: https://podfollow.com/new-statesman/e...

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