Banking Litigation Notes

Leaving LIBOR – the ISDA Protocol and Supplement

With LIBOR due to disappear by end-2021, work has been underway to facilitate the transition from LIBOR and other IBORs to alternative risk free rates …

Commercial Court grants declaratory relief to bank relating to its rights under the 1992 ISDA Master Agreement

Court of Appeal upholds High Court decision to grant summary judgment in FX de-pegging case

The Court of Appeal has upheld the High Court’s decision to grant summary judgment in favour of a bank defending a claim brought by a foreign exchange …

ISDA pre-cessation fallback consensus: will this reduce legacy LIBOR risk in the derivatives market?

Commercial Court dismisses challenge to exercise of options in swap confirmations incorporating 2000 ISDA Definitions

ISDA to re-consult on pre-cessation fallbacks: litigation risk for legacy LIBOR contracts

The International Swaps and Derivatives Association (“ISDA”) announced yesterday that it will re-consult on how to implement pre-cessation fallbacks in …