LIBOR ceased to be published as a floating rate benchmark at the end of 2021 (except for USD LIBOR which continues to be published until June 2023).  Remediating IBOR based contracts presented the market with a significant challenge.

The transition from IBORs to alternate reference rates (ARRs) or risk free rates continues to have a considerable impact on the financial markets. Regulators have required regulated firms to understand the risks this poses to their business, remodel their systems and repaper legacy contracts to ensure smooth transition.

This resource hub includes updates, useful guides, briefings and events on navigating the transition from LIBOR around the world.

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    LIBOR misrepresentation claim time-barred and summarily dismissed

    LIBOR misrepresentation claim time-barred and summarily dismissed

    In a case concerning fraudulent misrepresentation relating to LIBOR manipulation, the High Court has granted summary judgment in favour of two banks, finding that the publication of the Final Notice started the limitation period and the claims were consequently time-barred.

    United Kingdom | Blog | July 14, 2021

    Litigation and disputes
    USD LIBOR Transition and Risk Free Rates: FAQs for aviation finance

    USD IBOR Transition and Risk Free Rates: FAQs for aviation finance

    Since our article on the topic in the December 2020 edition of Legalflyer (link), there have been further developments in the retirement of LIBOR.

    Global | Publication | June 29, 2021

    Aviation
    IBOR transition in the project finance market

    IBOR transition in the project finance market

    LIBOR is commonly used in project finance transactions as the basis for the calculation of a floating interest rate for sterling and US dollar loans.

    Global | Webinar and Events | March 09, 2021

    IBOR and benchmark reform
    Energy Academy & Projects Academy: What’s on the horizon in 2021

    Energy Academy & Projects Academy: What’s on the horizon in 2021

    Designed to help our clients embrace both the challenges and opportunities ahead, we share our global knowledge and experience through a series of industry and sector focused, legal training sessions.

    Global | Webinar and Events | March 09, 2021

    Banks
    LIBOR and risk free rates: Frequently asked questions

    LIBOR and risk free rates: Frequently asked questions

    The cessation of LIBOR has significant implications for the loan market and borrowers need to prepare.

    Global | Publication | March 08, 2021

    IBOR and benchmark reform

    LIBOR discontinuation, tough legacy contracts and the legislative solution - where are we now?

    With the introduction of the Financial Services Bill (the FS Bill) into Parliament in October last year and regulated firms working hard towards transitioning away from LIBOR by end 2021, this post focuses on the FCA’s proposed new powers to address so-called “tough legacy” contracts.

    United Kingdom | Blog | February 01, 2021

    IBOR and benchmark reform


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    LIBOR transition checklist

    Managing LIBOR transition will start with a full impact assessment covering all areas of your business that are exposed to IBOR. We have identified a checklist of key issues to consider when developing your IBOR transition strategy.

    IBOR checklist

    Download the checklist

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    A remediation solution for IBOR transition project teams

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