On April 6, 2021, New York Governor Andrew Cuomo signed into law the New York State Legislature’s Senate Bill 297B/Assembly Bill 164B (the New York LIBOR Legislation), strengthening the groundwork for the forthcoming...more
5/6/2021
/ Alternative Reference Rates Committee (ARRC) ,
Benchmarks ,
Contracts Clause ,
Federal Reserve ,
Governor Cuomo ,
Interest Rates ,
Legacy Contracts ,
Libor ,
New Legislation ,
Preemption ,
Safe Harbors ,
Secured Overnight Funding Rate (SOFR) ,
Trust Indenture Act
On 5 March 2021, the UK Financial Conduct Authority (FCA) and the administrator of LIBOR, ICE Benchmark Administration (IBA) each made important announcements for parties to instruments or other contracts referencing LIBOR. ...more
On October 17, the Delaware Supreme Court held that JP Morgan (JPM) terminated its security interest in all of the collateral provided by General Motors (GM) in support of a $1.5 billion loan, despite neither party intending...more