Note: This is an archived Handbook entry from 2014.
|Dates & Locations:|| |
This subject is not offered in 2014.
|Time Commitment:||Contact Hours: The total class time is between 24 and 26 hours. |
Total Time Commitment: Not available
|Recommended Background Knowledge:||
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.
|Non Allowed Subjects:||None|
|Core Participation Requirements:||
The Melbourne Law Masters welcomes applications from students with disabilities. The inherent academic requirements for study in the Melbourne Law Masters are:
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/
For more information, contact the Melbourne Law Masters office.
Following the Global Financial Crisis, the once-heralded concept of securitisation quickly fell out of favour. Investors since referred to the C-word for collateralised dept obligations (CDOs) as an area to stay clear of. A lack of trust and disclosure led to a surge in bondholder litigation and enforcement action from supervisors. Investors explored virtually any available avenue to recoup losses. Covered bonds rose to the occasion, facilitated by regulators in various countries, but are they here to stay and fill the void? More recently, securitisation, convertible bonds and structured products generally are making a comeback of sorts as investors hunt for yield. The focus of the subject is distinctly practical. Real-life examples from international practice are discussed. The lecturer draws on his extensive experience and brings in guest lecturers from a variety of backgrounds, adding to an interactive, challenging and overall rewarding subject.
This subject covers the law and practice of the international debt capital markets. It discusses the mechanics of the capital markets generally, explaining how these differ from the loan markets. It also discusses the relevant actors and the (highly dynamic) legal and regulatory framework. There is emphasis in class on the legal and structuring aspects of actual capital market transactions, such as covered bonds, securitisations, (structured) bonds and hybrid transactions. Restructuring of bond transactions (as evident in the sovereign debt crises) is a prominent feature. Consideration of financial markets litigation (involving investment banks, hedge funds, ratings agencies, derivative dealers and regulators) is another important aspect of the subject. Actual transactions, their structure and documentation, are discussed in class, in order to provide students with a skill set that is applicable in legal practice and thus enhance their legal careers.
A student who has successfully completed this subject should:
Core subject materials will be provided free of charge to all students. Some subjects require further texts to be purchased. Details regarding any prescribed texts will be provided prior to the commencement of the subject.
|Breadth Options:|| |
This subject is not available as a breadth subject.
|Fees Information:||Subject EFTSL, Level, Discipline & Census Date|
|Links to further information:||www.law.unimelb.edu.au/subject/LAWS70111/2014|
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