Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Tata Steel has filed a claim against Liberty Steel’s UK businesses related to unpaid debts from the £100mn ($138mn) sale of its specialty steel business in 2017, according to media reports on Apr 21.


According to court papers seen by Davis Index, Tata has launched proceedings against Liberty Speciality Steels, Liberty House Group PTE, and Speciality Steel UK.


A Tata spokesperson noted to the media that the company would be unable to comment since the case was active in the courts.


Liberty Steel and its parent company, GFG Alliance, are already the subject of a winding-up order by Credit Suisse over the bank’s liabilities following the collapse of GFG’s financier Greensill Capital.


Liberty operates 12 steel plants in the UK, including Rotherham, Motherwell, and Newport, employing 3,000 people. Another 2,000 work for GFG in other UK metals businesses.


Liberty’s specialty steel Includes 1.2mn mt per year primary and secondary EAF, vacuum degassing, ingot casting, continuous casting, bar, and coil rolling, and bar processing lines.


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