Tens of millions of contracts involving LIBOR do not address the cessation of the benchmark.
The partnership will assist financial service clients in transitioning away from LIBOR by the end of 2021.
April 30, 2020 at 06:03 AM
1 minute read
Reporter
Allen & Overy has partnered with legal tech firm Factor to assist the financial services industry in updating contracts related to the London Interbank Offered Rate – commonly known as LIBOR - to new replacement rates.
The changes are due to go ahead at the end of 2021 despite the mass disruption caused by COVID-19.
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