Ed Ivey quoted in Practice Insights from IFLR article
Moore & Van Allen (MVA) Co-head of Derivatives Member Ed Ivey was quoted in the Practice Insights from IFLR article titled, “Confusion as separate states pass their own Libor legacy law” published on March 7. The article discusses state-specific legislation attempting to address tough legacy LIBOR contracts that, without legislation, may leave financial institutions unable to transition from LIBOR to SOFR.
They want to give them all the comfort they can that the federal law is there to help, but also that state law is committed to the same change,” said Edward Ivey, partner and co-chair of swaps and derivatives practice at Moore & Van Allen. “There is no doubt that local banks are talking to their state governments and saying they need something to be sure they can safely move off these contracts. Having that in place mitigates any perceived litigation and state law risks were someone to claim that the federal law is not sufficient.”
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