The London Metal Exchange implemented new rules and proposed new reforms to help ameliorate continued delays in retrieving metals from warehouses and high costs of storage. These are in addition to a new rule (the so-called linked load-in, load-out or LILO rule) implemented on February 1 that required warehouses with delays of more than 50 days for delivering out metal, going forward, to accept less new metal for storage than they deliver out. However, the rollout of these new rules had been delayed by litigation that only recently concluded. (Click here for background on this litigation in the article “UK Court Authorizes LME to Proceed With Reform of Physical Warehouse Network” in the October 6 to 10 and 13, 2014 edition of Bridging the Week.) Among other things, LME proposed to cap or ban charges for storage during periods of long delay (i.e., 50 days or more); proposed refinements to its LILO rule; and provided guidance regarding the types of incentives it considers abusive that warehouse owners may pay to metal owners to attract metal into their warehouses.