We’re prepared to change the law to reform water industry, says Angela Eagle

From the publisher

Britain’s insolvency laws cannot deal with the aggressive behaviour shown by the companies that control Thames Water, the environment secretary has said, as she confirmed ministers were prepared to take it into public ownership. Angela Eagle told the Guardian she was determined to reform the water industry after being told by Andy Burnham to make it her top priority. But she warned that could mean a change in law to factor in the way in which the US hedge funds that own much of Thames Water have kept it running while seeking a deal to renegotiate its debts. The battle over Thames looks set to become the first test of…

The source's own excerpt, unedited