‘Rate Expectations: English court implies reasonable alternative to LIBOR’

The English court has implied a term into an agreement referencing three-month USD LIBOR. The term implied was that if LIBOR no longer functions, the calculation should be performed using a reasonable alternative rate as at the date the calculation is to be made … (more)

[Andrew Denny and Jason Rix, A&O Shearman, 25 October 2024]

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