Cadwalader represented The Alternative Reference Rates Committee (ARRC) in preparing the just-released consultations on U.S. dollar (USD) LIBOR fallback contract language for bilateral business loans and securitizations. These consultations are now open for public feedback.
The ARRC consultations outline draft language for new contracts that reference LIBOR so as to ensure these contracts will continue to be effective in the event that LIBOR is no longer usable.
The ARRC was reconstituted in 2018 to help to ensure the successful implementation of the Paced Transition Plan and serve as a forum to coordinate and track planning across cash and derivatives products and market participants currently using U.S. dollar LIBOR.
Cadwalader’s LIBOR Preparedness Team is headed by partner Lary Stromfeld (Picture). Partners David Burkholder and David Gingold worked on the securitization consultation and partner Jeff Nagle worked on the bilateral loans consultation.
Involved fees earner: David Burkholder – Cadwalader Wickersham & Taft; David Gingold – Cadwalader Wickersham & Taft; Jeffrey Nagle – Cadwalader Wickersham & Taft; Lary Stromfeld – Cadwalader Wickersham & Taft;
Law Firms: Cadwalader Wickersham & Taft;