14 November 2022
Term SOFR in USD loans
There has been a divergence in the international market in the rate which will replace USD LIBOR when it is discontinued at the end of June next year. Given the significant investment in systems to calculate compounded in arrear near risk-free rates (RFRs) and market familiarity with those rates in...
16 February 2021
LIBOR transition: What is a "safe harbour" and why does the UK’s legislative toolkit need one?
In the context of the UK’s legislative solution for the transition of so-called "tough legacy" LIBOR contracts, contained within the Financial Services Bill ( FS Bill ), HM Treasury ( HMT ) has recently published a consultation paper: Supporting the wind-down of critical benchmarks .
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.
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...
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...
07 December 2022
The Australian Government passes Secure Jobs, Better Pay Act 2022: What it means for your business
On 2 December 2022, the landmark Fair Work Legislation Amendment (Secure Jobs, Better Pay) Bill 2022 (Bill) passed both houses of Parliament. On 6 December 2022, the Bill received royal assent and became the Fair Work Legislation Amendment (Secure Jobs, Better Pay) Act 2022 (Act).
07 December 2022
Hiswara Bunjamin & Tandjung advises on eighth successful toll road transaction in three years
Leading Indonesian law firm Hiswara Bunjamin & Tandjung , in association with Herbert Smith Freehills , has advised Hong Kong-listed Road King Infrastructure Limited (HKEX: 1098) on its successful acquisition of a minority interest in the Semarang-Batang section of the Trans Java Toll Road with...
06 December 2022
Red card or fair play? Ambush marketing back in the news as FIFA World Cup kicks off
Ambush marketing can be an impactful, but legally risky, advertising strategy. Businesses that are the subject of, or otherwise engaging in, ambush marketing should consider potential infringement of the target brand’s intellectual property rights.