Chinese group Jingye hires lawyers to recover British Steel cash

The Chinese owner of British Steel has hired a leading City law firm to explore the recovery of hundreds of millions of pounds it invested in the Scunthorpe-based company before the government seized control of its operations in April. Sky News has learnt that Jingye Group has appointed Linklaters – which advised it on its purchase of British Steel in 2020 – to evaluate legal options for recouping part of its outlay. It was unclear on Tuesday which potential routes Jingye was exploring with Linklaters, or whether a formal legal challenge to the government was under consideration. Money latest: How…