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UK ministers appoint insolvency advisers for Thames Water collapse ‘contingency plans’UK ministers have lined up insolvency practitioners to prepare for
Struggling with insolvency, BluSmart’s valuable EV fleet and tech assets are trapped in subsidiaries, complicating creditor recovery and leaving its future uncertain.
BluSmart, the electric cab firm, is grappling with a complex insolvency case that began on July 29, 2025, when the National Company Law Tribunal (NCLT) admitted a petition from a creditor.
The case has uncovered major challenges in valuing the company’s assets, particularly its fleet of electric vehicles (EVs) and proprietary technology, which are locked within subsidiaries not automatically included in the insolvency process.
Founded in 2019 by Anmol Singh Jaggi, Punit Goyal, and Puneet Singh Jaggi, BluSmart operated with an asset-light…
FTI Consulting has been brought in as an administrator in the event Thames fails to secure funding from lenders.
Contingency plans could see Britain’s biggest water firm placed into a special administration regime (SAR), meaning it would be put into an insolvency process.
Environment Secretary Steve Reed signed off the appointment, which would still need to be approved in court, according to Sky News which first reported on the move.
A spokeswoman for the Department for Environment, Food & Rural Affairs (Defra) said: “The Government will always act in the national interest on these issues.
“The company remains financially stable, but we have stepped up our preparations and stand ready for all eventualities, including applying…
Environment Secretary Steve Reed signed off the appointment, with Sky News reporting FTI Consulting will act as an administrator in case Thames fails to secure funding from lenders.
Contingency plans could see Britain’s biggest water firm placed into a special administration regime (SAR), meaning it would be put into an insolvency process.
A spokeswoman for the Department for Environment, Food & Rural Affairs (Defra) said: “The Government will always act in the national interest on these issues.
“The company remains financially stable, but we have stepped up our preparations and stand ready for all eventualities, including applying for a special administration regime if that were to become necessary.”
Environment Secretary Steve Reed signed off the appointment of FTI Consulting to act as an administrator in case Thames fails to secure funding from lenders, Sky News reported.
Contingency plans could see Britain’s biggest water firm placed into a special administration regime (SAR), meaning it would be put into an insolvency process.
A spokeswoman for the Department for Environment, Food & Rural Affairs (Defra) said: “The Government will always act in the national interest on these issues.
“The company remains financially stable, but we have stepped up our preparations and stand ready for all eventualities, including applying for a special administration regime if that were to become necessary.”
Environment Secretary Steve Reed signed off the appointment of FTI Consulting to act as an administrator in case Thames fails to secure funding from lenders, Sky News reported.
Contingency plans could see Britain’s biggest water firm placed into a special administration regime (SAR), meaning it would be put into an insolvency process.
A spokeswoman for the Department for Environment, Food & Rural Affairs (Defra) said: “The Government will always act in the national interest on these issues.
“The company remains financially stable, but we have stepped up our preparations and stand ready for all eventualities, including applying for a special administration regime if that were to become necessary.”
Ministers have lined up insolvency practitioners to prepare for the potential collapse of Thames Water, Britain’s biggest water utility.
Sky News can exclusively reveal that Steve Reed, the environment secretary, has signed off the appointment of FTI Consulting to advise on contingency plans for Thames Water to be placed into a Special Administration regime (SAR).
Sources said on Tuesday that the advisory role established FTI Consulting as the frontrunner to act as the company’s administrator if it fails to secure a private sector bailout – although approval of such an appointment would be decided in court.
The Federal Office of Public Health (FOPH) has withdrawn the health insurance company’s license.
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Zug-based health insurer Klug is insolvent and will cease operations at the end of 2025 after more than a century. The reasons are financial problems and internal disagreements.
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After 107 years, Zug-based health insurer Klug will cease operations at the end of 2025.
The Federal Office of Public Health confirmed its insolvency at the beginning of August.
The company blamed the difficulties on strong membership growth and discrepancies in financial information.
Zug-based health insurer Klug is insolvent. The 107-year-old company…
Vilnius Regional Court has filed a bankruptcy case against the company “United Catering Forces”, which managed the capital’s in the old town “Wok to Walk” restaurant, which opened in 2011, reports “Verslo žinios”.
Asian food restaurant It started operating on Vilnius Street in 2009 and operated under the franchise wing of the Amsterdam chain “Wok to Walk”.
The court granted the application of the head of the United Catering Forces to initiate insolvency proceedings. In the application to the court, the company’s head stated that the long-standing successful company had encountered “financial difficulties that it has not been able to overcome and, obviously, will not be able to,” and therefore decided to cease operations.
In a development with potentially significant implications for
the construction and insolvency sectors, the Ontario Superior Court
granted an initial order under the Companies’ Creditors
Arrangement Act (“CCAA“) that
included a rarely seen measure: a stay on calls against performance
bonds. The decision in Re Earth Boring Co. Limited raises
important questions about the limits of judicial discretion under
section 11 of the CCAA and the role of section 11.04, which
addresses the role of third-party guarantors in a debtor’s
restructuring. This bulletin analyzes the scope and rationale of
the Court’s order, its alignment with existing legal and
commercial principles, and the practical consequences for owners,
contractors, and…
UK ministers appoint insolvency advisers for Thames Water collapse ‘contingency plans’
UK ministers have lined up insolvency practitioners to prepare for the potential collapse of Thames Water, Britain’s biggest water company.
Steve Reed, the environment secretary, has signed off the appointment of FTI Consulting to advise on contingency plans for Thames Water to be placed into a Special Administration regime (SAR), in news first reported by Sky News.
This puts FTI Consulting as the frontrunner to act as the company’s administrator if it fails to secure a private sector bailout – although such an appointment would take place in court.
