21 January 2021
Corporate Treasurer Briefing - Is LIBOR Really Entering the End Game?
The end of 2021 has been the date set in stone for the discontinuation of LIBOR for some time. In our briefing we look at the status of LIBOR transition across various different currencies and products and explore some of the events which will catalyse the transition in 2021.
20 October 2020
2020 Global Bank Review: #disruption
The 2020 edition of our Global Bank Review: #disruption , explores the challenges and opportunities facing banks, with the emergence and impact of the Covid-19 global health pandemic and its subsequent ramifications. While the sector has faced – and overcome – significant disruption before, the...
15 July 2020
LIBOR transition: the next steps in the loans market
The relaxation of the interim milestones in the transition from LIBOR to near risk-free rates (RFRs) in the loans market, in recognition of the challenges faced by businesses in their response to the Covid-19 pandemic, has been helpful. However, the overall assumption remains that firms cannot rely...
29 June 2020
UK Government announces LIBOR legislative fix: summary of proposals and our initial observations
In a written statement on 23 June 2020 made by Rishi Sunak, The Chancellor of the Exchequer , the UK Government has announced its intention to introduce a legislative solution for the transition of so-called “tough legacy” LIBOR-linked products. It intends to include measures in the forthcoming...
22 October 2019
2019 Global Bank Review
The 2019 edition of our Global Bank Review: The Data Game , explores the rapid growth of data as one of the most significant developments in the banking sector. That being the case, we are still only at the beginning of the data journey and its impact in the next decade or two will be even more...
13 February 2019
LIBOR Is Being Overtaken: Will It Be a Car Crash?
This article considers the background and current market developments relating to the discontinuation of LIBOR. It examines the potential litigation likely to arise for legacy contracts and the alternative contractual fall-back provisions that are being proposed. Finally, it analyses the four...
03 January 2019
SEC Chairman comments on Brexit, LIBOR and Cybersecurity risks
On 6 December 2018, the Chairman of the US Securities and Exchange Commission (the “ SEC ”), Jay Clayton, delivered a speech 1 in New York where he identified the United Kingdom's exit from the European Union (“ Brexit ”), the transition away from LIBOR and cybersecurity as key market risks that...
16 April 2021
Update: On 15 April 2021 the German Federal Constitutional Court (Bundesverfassungsgericht) has ruled the Berlin Rent Cap (Berliner Mietendeckel) to be void in its Entirety
With yesterday´s ruling, the Second Senate of the German Federal Constitutional Court (Court) declared the law of the State of Berlin on rent limitation on residential properties in Berlin (Berlin Rent Cap) to be unconstitutional and therefore void in its entirety.
15 April 2021
Routes and obstacles to a second Scottish independence referendum
At the time, the 2014 referendum was seen as a “once-in-a-generation opportunity” to settle the question: “ Should Scotland be an independent country”. The No-vote won by 55% to 45%. However, as we approach the 2021 Scottish Parliament election on 6 May, the debate around a second referendum is...
13 April 2021
Pharmaceutical patent term extensions: federal court hears challenge to “absurd” Australian patent office ruling
Two major pharmaceutical companies have challenged Australia’s Commissioner of Patents in the Federal Court about the time limits within which an application can be made to extend a patent term.
12 April 2021
The Future of Consumer Series
It is an exciting time for The Future of Consumer with the opportunities from innovation and technology, yet constant pressure to keep pace with regulatory intervention and change; disruptive technologies; and business model adaptations. The Future of Consumer series tackles a range of issues to...
12 April 2021
The Future of Consumer – 2021 APAC predictions
2020 presented a number of significant challenges with Covid-19 accelerating some of the existing trends in the consumer sector – and we expect to see these issues driving some real turning points in 2021, as our Asia-Pacific Consumer team will explore in this series. Trust continues to be a major...
08 April 2021
Real estate transfer tax (“RETT”) reform likely to be implemented on short notice
The German RETT reform is gaining momentum and an updated draft bill is contemplated to be voted on by the German parliament as early as mid-April. While a draft bill has not yet been published, with a few exceptions, the new rules are expected to be largely similar to a previous draft published in...
31 March 2021
The Bettor's Verdict – a Herbert Smith Freehills podcast on gambling law
This podcast, hosted by Steven Jacobs , will focus on unwinding the tangled web of US gambling laws past and present, telling the stories of the people affected by this sometimes-impenetrable and often-changing landscape, and providing insight on what will come next.
31 March 2021
SPACs and de-SPACing – What Australian companies need to know
In 2020, SPACs overtook traditional IPOs in the US by number and each of them will need to find acquisition targets or be liquidated within a set time frame. Increasingly, Australian companies are on the radar as acquisition targets for SPACs. In this article we examine what they are, why...
31 March 2021
Policyholder successfully challenges insurer’s refusal to cover ‘securities claim’
In good news for policyholders defending class actions, the Federal Court of Australia has rejected an insurer’s arguments that a class action settlement was not covered because: the units in an ASX-listed trust the subject of the proceedings were not “securities”; and the proceedings arose from...