Saughter and May acts as sole legal adviser to Tata Steel on the restructuring of the £13 billion British Steel Pension Scheme

Saughter and May have acted as sole legal adviser to Tata Steel on the restructuring of the £13 billion British Steel Pension Scheme through a regulated apportionment arrangement (RAA) with the Trustee, and the contingent creation of a new British Steel Pension Scheme, with the support of the Pensions Regulator and the Pension Protection Fund. This is the largest pension scheme restructuring carried out in the U.K.. Saughter and May is also advising Tata Steel on its ongoing strategic planning for and restructuring of its European business including recent disposals.