April 17, 2020
Lary Stromfeld comments on the benefits of an ARRC legislative proposal intended to reduce the likelihood of mass legal disputes stemming from legislation designed to switch financial contracts referencing U.S. dollar Libor to a replacement benchmark.
“This legislation will reduce litigation. It reduces it by, in the event of a dispute, showing how a contract dispute ought to be resolved. For that reason, counterparties are far less likely to go into court in the first place.”
Pro Bono Report 2019