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.

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.

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.

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.