The creditor group offering Britain's Thames Water a 1.5 billion pound ($1.95 billion) funding lifeline urged others to back its plan on Monday, a week before a participation deadline.Britain's biggest water supplier has been on the brink of collapse since March,

A battle has broken out between two groups who own Thames Water debt, as they race to keep the company afloat.

Thames Water, which supplies around 16 million households across London and the South East, is looking to raise £3billlion in emergency funding to avoid declaring insolvency.

Thames Water, Britain's biggest water supplier, has lined up a financing lifeline of up to 3 billion pounds ($3.9 billion) to ensure its survival over the next year and beyond.

A group of creditors that holds Thames Water’s riskiest debt is drawing up plans to provide the beleaguered UK utility with a loan of at least £1.5 billion ($1.9 billion) to help it stave off insolvency.