Thames Water has received court approval for up to 3 billion pounds of emergency funding. That prevents the company that serves 16 million people in and around London from falling into government administration.

Thames Water said the U.K. Court of Appeal has upheld its restructuring plan, which enables it to take on additional debt after it was challenged by campaigners. Thames Water said Monday that the appeals court upheld the ruling that sanctioned its restructuring plan and the extension of its liquidity runway, but subject to limited modification.