The reference rate provided by selected panel banks to the LIBOR administrator, ICE Benchmark Administration (IBA) and that is used to establish interest rates on many loans, notes, bonds and other financings, derivatives,...more
As noted in our Financial Industry Alert published on January 17, 2020, one of the most daunting challenges for the forthcoming transition from LIBOR to an alternative reference rate has to be the impact of the prospective...more
The CMA ,the UK’s main competition regulator, launched an investigation on 26th September 2017 into home insurance price comparison website, compare the market.com, over its use of most favoured nation clauses and whether...more
The Court of Appeal has twice in two months handed down judgments on how the return to literalism (post the Supreme Court’s ruling in Arnold v Britton) applies to exclusion clauses. This is an important development for all...more
Burton J stated that he would find it "… impossible not to be assisted" by a clause heading in construing it, despite a provision that "… headings shall be ignored". Citicorp International Limited v Castex Technologies...more
The English High Court decision in Emirates Trading Agency LLC v Prime Mineral Exports Private Limited offers guidance. Why this case is important - Multi-tiered or dispute escalation clauses are an important...more