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Weekly briefing: LMA asymmetric jurisdiction clauses post-Lastre, Companies House personal identity verification codes, EU T+1 settlement, BoE gilt repo, ISDA on CDS liquidity/EMIR 3, SFDR/Taxonomy updates

Published on: 11 September 2025

Published by a LexisNexis Banking & Finance expert
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Lending

LMA announces development of asymmetric jurisdiction clauses following CJEU Lastre decision

The Loan Market Association (LMA) has confirmed it is refining its asymmetric jurisdiction clauses in light of the Court of Justice of the European Union ruling in Società Italiana Lastre SpA v Agora SARL (Case C‑537/23). The LMA has revised its German Law Investment Grade and German Law Real Estate Finance Facility Agreements to add a modified asymmetric jurisdiction clause, as those precedents are directly influenced by the Lastre outcome. For English law precedents, the amended clause will not be inserted for now; instead, a consolidated jurisdiction clause guidance note is being prepared and will be published in due course. That note will offer direction and include a version of the updated asymmetric jurisdiction clause as an option for English law contracts. Pending its release, the LMA advises parties considering changes to the existing LMA recommended asymmetric jurisdiction clause to look to the German Law Investment Grade and German Law Real Estate Finance Facility Agreements...

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