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The Impact of the Phasing out of LIBOR on Aviation Transactions
On November 30, 2020, the Intercontinental Exchange Benchmark Administration (“IBA”), the administrator of U.S. Dollar LIBOR (“USD LIBOR”), announced that it intends to cease publication of 1 week and 2 month USD LIBOR rates at the end of 2021 and it intends to cease publication of the remaining USD LIBOR tenors on June 30, 2023. […]
Supreme Court Ruling on Business whether Interruption Insurance Triggered by the Response to the Pandemic
The Supreme Court has partly allowed an appeal by the Financial Conduct Authority (“FCA”) on behalf of policyholders and dismissed the insurers’ appeals in the business interruption insurance test case brought by the FCA. Link: https://www.supremecourt.uk/cases/docs/uksc-2020-0177-judgment.pdf This judgment will result in more policy holders being able to rely on their business interruption insurance policies to […]