LIBOR Transition and Contract Remediation

Orrick’s LIBOR Transition team provides advice and thought leadership on the many challenges associated with the prospective LIBOR transition at the end of 2021, both for new floating rate instruments and for outstanding LIBOR-based financings and other contracts that mature beyond that date.

Our finance and derivatives teams advise clients on incorporation of fallback and related provisions in new financings and, with our litigation team, advise on legacy instrument considerations, including legislative and other “solutions” and potential litigation exposure.

We also provide large scale contract remediation services through our experienced practice teams and innovative Orrick Analytics service offering, which uses machine learning tools to efficiently review large volumes of contracts to identify LIBOR-related terms and provisions. The Orrick Analytics offering includes tech-savvy attorneys, project managers and technologists that use machine learning, bots and scripts that streamline the remediation process for our clients. We project manage the entire process, from helping clients select the right technology, to optimizing machine learning tools, drafting and executing on playbooks, as well as document automation and revision, including renegotiating with third parties.