United Kingdom law firm Taylor Wessing was recently named the Finance Team of the Year at the 2020 Lawyer Awards for its work as one of the lead advisers in respect to the collapse and later sale of British Steel in 2019 and 2020.
When British Steel went into liquidation, Goldberg Kohn partnered with Taylor Wessing to advise global investment adviser White Oak as senior secured lender. The liquidation and sale to a Chinese firm led to the preservation of British Steel and thousands of jobs while White Oak was repaid in full.
Taylor Wessing partner Nick Moser, the firm's UK head of Restructuring & Insolvency said, “This was a true team effort where there was a collaborative spirit throughout with White Oak and their US lawyers, Goldberg Kohn. We worked to cut through differences between stakeholders to find solutions to complex problems which otherwise could have resulted in litigation and the opportunity to achieve this great outcome would have been jeopardized.”