Photo of Cathryn Williams

The London ABL and Restructuring team at Crowell & Moring feature in this month’s Business Magazine, following their arrival earlier in 2019 from the London office of Squire Patton Boggs.

The article comments on the growth of the London team, its approach to market and how the new team differentiates itself from the rest

Photo of Cathryn Williams

British Steel has entered compulsory liquidation today with EY being appointed as special managers. Is British Steel the first real victim of Brexit? First, as a result of the delay in the UK’s divorce deal, the EU delayed granting carbon credits to British Steel necessitating a £120m loan from the government to stave off significant penalties in relation to its emissions targets. The directors now cite “Brexit-related issues” as the reasons for the failure of the business, with the on-going uncertainty over future tariffs and trading terms resulting in the company’s order book from Europe falling off a cliff.
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