Thames Water - comment

That the appeals would be thrown out was all but certain (see previous notes). But not being lawyers, we find ourselves asking what the purpose then is of the process if the relevant alternative has been established and valued. A little drizzle of uncertainty? Play with some false hopes? We are also wondering if the reference to the alternative case needs to be to liquidation in all circumstances, but given the B’s ark required the As to tow it, perhaps that’s not so relevant now.