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Legalseas
Our shipping law insights provide legal and market commentary, addressing the key questions and topics of interest to our clients operating in the shipping industry, helping them to effectively manage risk.
On 27 July 2017, Andrew Bailey, the Chief Executive of the UK Financial Conduct Authority (the FCA) announced that the FCA would no longer compel or persuade banks to make submissions to LIBOR as from the end of 2021.
LIBOR was originally a survey- based benchmark, compiled by panels of banks answering the question “at what rate could you borrow funds were you to do so by asking for and then accepting interbank offers in a reasonable market size just prior to 11am?” However, in the wake of the manipulation scandal, regulators found that there were very few transactions taking place to support some of the currencies and tenors for which LIBOR was published. As such, LIBOR submissions were largely based upon expert judgement rather than transaction data. This led to concerns that LIBOR was unrepresentative and vulnerable to potential manipulation which in turn culminated in a number of criminal actions brought in various jurisdictions around the world.
Our briefing note explains everything you need to know about the transition to risk-free rates including key regulatory issues and challenges concerning IBOR transition.
Aktuelle Publikationen
Blog
Entscheidung des Bundesgerichtshofs im Fall Sony gegen Datel: Auswirkungen auf Gaming, Cheat-Software und das EU-Softwareurheberrecht
Cheat-Software ist für Spielehersteller seit Langem ein Ärgernis. Doch stellt sie auch eine Urheberrechtsverletzung dar? In einer wegweisenden Entscheidung vom 31. Juli 2025 hat der Bundesgerichtshof (BGH) entschieden, dass Cheat-Tools, die lediglich In-Game-Variablen im RAM manipulieren – ohne den Programmcode zu verändern – nicht gegen das Softwareurheberrecht nach EU-Recht verstoßen.
Blog
German Federal Court of Justice decision in Sony v. Datel: Its implications for gaming, cheat tools and EU software copyright law
Cheat software has long been a thorn in the side of game publishers. But does it also constitute a copyright infringement? In a landmark decision, issued on 31 July 2025, the German Federal Court of Justice (BGH) ruled that cheat tools that merely manipulate in-game variables in RAM - without altering the program code - do not violate software copyright under EU law.
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