International Financial Transactions

This subject is not offered in 2013.

Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.

The Melbourne Law Masters welcomes applications from students with disabilities. The inherent academic requirements for study in the Melbourne Law Masters are:

• The ability to attend a minimum of 75% of classes and actively engage in the analysis and critique of complex materials and debate;
• The ability to read, analyse and comprehend complex written legal materials and complex interdisciplinary materials;
• The ability to clearly and independently communicate in writing a knowledge and application of legal principles and interdisciplinary materials and to critically evaluate these;
• The ability to clearly and independently communicate orally a knowledge and application of legal principles and interdisciplinary materials and critically evaluate these;
• The ability to work independently and as a part of a group;
• The ability to present orally and in writing legal analysis to a professional standard.

Students who feel their disability will inhibit them from meeting these inherent academic requirements are encouraged to contact the Disability Liaison Unit: www.services.unimelb.edu.au/disability/

This subject is designed around the key legal concepts that underpin international financial transactions, including insolvency, security and the law governing the assignability of financial assets. These legal concepts are analysed in the context of international financial transactions, including bond issues, syndicated loans, securitisation, derivatives and Islamic finance. The subject provides students with insights into cross-border financial transactions and the role of international finance lawyers in structuring and advising on such transactions. It is therefore of particular interest to lawyers practising or seeking to practise law in this area and also to in-house lawyers and bankers in commercial and investment banks. A former senior practitioner, the lecturer has over 15 years of experience in financial transactions, including lending and security, property finance, asset finance, trade finance, banking products, debt restructuring, derivatives and structured finance.

This subject looks at the principal transactions, analysing the ways in which they are structured and implemented, and identifying the legal issues that are relevant to them.

Principal topics will include:

• The regulation of international finance
• Financing options: Bank financing versus capital markets financing
• Debt capital markets, including Eurobonds and global bonds
• Syndicated lending
• Techniques of loan sales: Novation, assignment and participation
• Derivatives
• Asset securitisation
• Project finance
• Legal issues, including security, insolvency and contractual issues.

A student who has successfully completed this subject should:

• Understand how the principal transactions of international finance are structured and implemented
• Identify the common legal issues that arise in such transactions and how those issues are resolved
• Understand the impact of cross-border issues on financial transactions.

Take-home examination (100%) (17–20 January 2014)
or
10,000 word research paper (100%) (26 February 2014) on a topic approved by the subject coordinator

Core subject materials will be provided free of charge to all students. Some subjects require further texts to be purchased. Visit the Melbourne Law Masters website for more information about this subject.

This subject is not available as a breadth subject.