LIBOR Phaseout: Litigation is Coming

This paper will explore the different steps market participants should take to make sure they are prepared when LIBOR is phased out in December 2021. Part I focus on actions do before going into negotiations that can increase their potential reach a consensual agreement. II what financial firms be for during negotiation process and claims may arise no agreement reached. The decision how handle any LIBOR-linked instrument portfolio left discretion of themselves. does not set decision, but it communicate urgency with which act either or prepare legal risk litigation costs DEFCON 1.