Taylor Wessing is one of the lead advisers in respect of British Steel, one of the highest-profile corporate collapses in recent years.
The firm advised the UK arm of global investment advisor White Oak as senior secured lender and has been acting since May 2019, when British Steel went into liquidation, through to the sale on 9 March of British Steel businesses to the Chinese steel producer, Jingye.
Commenting on the positive outcome, partner and UK head of Restructuring & Insolvency, Nick Moser, said: “We are very proud to have represented White Oak and to have played an important role in this unique and complex situation.”
Director of White Oak, Tom Otte, said: “The Taylor Wessing team guided us through difficult circumstances, delivering on everything we asked – their advice was clear, insightful and innovative.”
The multidisciplinary Taylor Wessing team was led by partner Nick Moser (Restructuring & Insolvency) and partner Lerika Joubert (Banking & Finance) along with Katie Horbury, Luke Viner, Kate Bowden and Fiona Coady and the mandate is further evidence of Taylor Wessing’s strength in the asset based lending market and complex insolvency situations.
Taylor Wessing worked alongside Goldberg Kohn Ltd., a Chicago-based law firm which served as another lead advisor to White Oak on the matter. The Goldberg Kohn team was led by Richard Kohn, a specialist in international lending, and Dimitri Karcazes, a specialist in workouts and insolvency.