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Search Results
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TRANSITION FROM LIBOR TO SOFR: IS THE LATTER TRULY A SECURED RATE? CHALLENGES IN INTERNATIONAL FINANCIAL MARKETS
From LIBOR’s cessation date, different firms and financial institutions were forced to seek a new benchmark in which the market could trust, without manipulation or undue deviation. This transition occurred by turning into rates that are based in real transactions, such as SOFR rate in our region. Nevertheless, critics affirm that SOFR is and will be the new best and secured alternative for the market, many risks and legal problems that arise due to its incorporation will need to be addressed by parties since there is no international hard law regulation. In order to understand the factors that originated the LIBOR to SOFR transition and identify the fortresses and weaknesses of the studied rate, the most relevant background within the national and international legal framework is explained. SOFR’s characters are presented and analyzed with its collateral, its volatility, and its capacity to become the new benchmark for financial markets. Finally, the legal consequences of the LIBOR to SOFR transition are exposed, identifying the risks that contracting parties must take into account when choosing it as their preferred benchmark.
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LA CESACIÓN UNILATERAL DEL CONTRATO DE OBRA PREVISTA EN EL ART. 1999 INC. 2° DEL CÓDIGO CIVIL
El art. 1999 inc. 2° del Código Civil faculta al mandante de la obra para hacerla cesar anticipadamente, reembolsando al artífice los gastos y dándole la utilidad que le habría reportado de haberse ejecutado completamente. No obstante, tratarse de una disposición con orígenes en Robert Pothier y el Código Civil francés, presente en la mayoría de los códigos herederos de esta tradición, no abundan en nuestro país comentarios doctrinarios ni jurisprudencia reciente que permita ilustrar el supuesto de hecho y la naturaleza de sus efectos. -
THE COMMITTED INTEREST IN THE DECLARATION OF ABUSIVE TERMS AS JUSTIFICATION OF THE ACTION FOR THE GENERAL INTEREST
This article will demonstrate that SERNAC can bring an action for the general interest against abusive clauses. The basis is the interest involved in the declaration of abusiveness. The effect of the action is an infringement conviction, the nullity of the stipulation, and the cessation of the supplier’s conduct.
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SOME PRECISIONS REGARDING THE DEFENSE OF THE GENERAL AND DIFFUSED INTERESTS OF CONSUMERS AND USERS
This paper analyzes the ruling handed down by the Court of Appeals of Santiago on October 2, 2019, in case role No. 2086-2018, entitled “National Consumer Service with Banco de Chile”, referring to the determination of jurisdiction to hear actions brought to ensure the general interests of consumers, as distinguished from supraindividual interests and their protection mechanisms.