Competing LIBOR Transition Proposals Create More Problems
Law360 has published an "Expert Analysis" article co-authored by Friedman Kaplan litigation partner Anne Beaumont and Janine Alexander and Audrey Favreau of UK law firm Collyer Bristow LLP. The article provides a comparative analysis of legislative and regulatory proposals in three jurisdictions – the US, UK and EU – which attempt to address so-called “tough legacy” contracts, which have no or inadequate LIBOR fallback provisions, and are extremely difficult or impossible to amend in advance of the end of LIBOR in 2021.
Ms. Beaumont and her UK-based co-authors describe and analyze the three proposals, concluding that each has problems of its own and the proposals together are likely to generate confusion and disputes because of uncertainties about how they would work together, potentially undermining financial stability, which is the primary objective of the transition away from LIBOR.
A link to the full article is below.
