BSI Salurkan Pinjaman Sindikasi Rp 693,83 Miliar untuk Proyek Kereta Api Makassar-Parepare kompas.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kompas.com Daily Mail and Mail on Sunday newspapers.
To address the key issue in the litigation
In re: Citibank August 11, 2020 Wire Transfers
1, on March 19, 2021, the Loan Syndication and Trading Association (LSTA) circulated a Market Advisory
2 that contains draft erroneous payment language to be incorporated into credit agreements that purports to protect administrative agents and contractually entitles administrative agents to claw-back erroneous payments in the future.
Importantly, the LSTA language grants administrative agents sole discretion to determine whether a payment was made erroneously. In addition to that fundamental grant of discretion, the LSTA language also provides for recovery of erroneous payments by administrative agents, states that a notice of an erroneous payment from an administrative agent to a lender is conclusive absent manifest error, and creates a presumption that any payment that is received by a lender that differs from the scheduled amount or that does not match the amount set forth in a prepayme
On April 6, 2021, New York Governor Andrew Cuomo signed into law
Senate Bill S297B/Assembly Bill 164B (the “New York Legislation”), which paves the way for a smoother transition from US Dollar LIBOR and, in particular, addresses certain “tough legacy contracts”
1 where replacement of LIBOR is not feasible due to certain legal or logistical issues. The New York Legislation is the first federal or state bill in this country signed into law that directly addresses the upcoming cessation of LIBOR.
Background
The ICE Benchmark Administration (“IBA”), the administrator of LIBOR,
released a feedback statement on March 5, 2021, explaining that the IBA would cease publication of LIBOR (i) after December 31, 2021, for one week and two month USD LIBOR, and (ii) after June 30, 2023, for all other USD LIBOR tenors (overnight, one month, three month, six month and twelve month).
Green and Sustainability-Linked Private Placements by EU and UK Issuers | Akin Gump Strauss Hauer & Feld LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
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On February 10, 2021, the primary global loan market trade
associations-the Loan Syndication and Trading Association
(
LSTA), the Loan Market Association and the Asia
Pacific Loan Market Association-released updated Green Loan Principles (
GLP)
and related Guidance.
The changes include a requirement that borrowers identify and
manage potentially material social risks of a project (see the
third bullet in section 2 of the GLP) and additional provisions
(see section 3.B.II(a) in the Guidance) that note the various
international and national taxonomies either in place or being