LLAW6094 & JDOC6094

General Course Information

1.1 Course details

Course code: LLAW6094 / JDOC6094
Course name: Law of International Finance 2
Programme offered under: LLM Programme / JD Programme
Semester: Second
Prerequisites: Law of International Finance 1, an academic equivalent, or substantive and demonstrable professional experience.
Credit point value: 9 credits / 6 credits

1.2 Course description

Law of International Finance 2 is an advanced course for students who have completed Law of International Finance 1. Its theme is non raditional hadow finance, dealing in context with contract formation, regulatory reforms and market practice.

The course provides insights to complex financial transactions and structured finance. This includes consideration of the parties involved and their various objectives; why transactions succeed or fail; and the impact of regulation on transaction design and shifts in activity between the onventional and shadow financial systems.

Topics include the uses and risks of special purpose vehicles; non ecourse finance for movable objects (ships and aircraft) and infrastructure; credit derivatives and synthetic transactions; mis elling to retail and professionals; and conflicts in debt restructuring. The course will consider the roots and features of complex transactions; how they contributed to the 2007 9 financial crisis; and examine legal and commercial aspects of recent transactions, especially when one elemental instrument is combined or embedded with others. For 2019 0 only, the course will include analysis of the ISDA Master Agreement 2002 as a derivatives documentation platform.

1.3 Course teachers

Name E-mail address Office Consultation
Course convenor Paul Lejot plejot@hku.hk CCT 304 Mon-Fri afternoons by appointment

Learning Outcomes

2.1 Course Learning Outcomes (CLOs) for this course

CLO 1 Develop a usable understanding of complex debt capital markets and structured finance transactions. This includes consideration of parties and their motives, contract formation, why transactions succeed or fail, the documentation used to structure transactions and allocate risks, and the impact of financial and prudential regulation on contract design.

CLO 2 The use of generic transaction structures and documents will be accompanied by commercial and contextual explanations of current transactions. With respect to substantive law, the course intends to provide an understanding of specific legal risks and the customary methods by which those risks may be mitigated or avoided.

2.2 LLM and JD Programme Learning Outcomes (PLOs)

Please refer to the following link:

LLM – https://course.law.hku.hk/llm-plo/

JD – https://course.law.hku.hk/jd-plo/

2.3 Programme Learning Outcomes to be achieved in this course

PLO A PLO B PLO C PLO D PLO E PLO F
CLO 1
CLO 2

Assessment(s)

3.1 Assessment Summary

Assessment task Due dates Weighting Feedback method* Course learning outcomes
Three Take home exams TBA 100% 1, 2, 5 1, 2
*Feedback method (to be determined by course teacher)
1 A general course report to be disseminated through Moodle
2 Individual feedback to be disseminated by email / through Moodle
3 Individual review meeting upon appointment
4 Group review meeting
5 In-class verbal feedback

6.2 Assessment Detail

To be advised by course convenor(s).

3.3 Grading Criteria

Please refer to the following link: https://www.law.hku.hk/_files/law_programme_grade_descriptors.pdf

Learning Activities

4.1 Learning Activity Plan

Lecture: 3 hours / week for 12 teaching weeks
Private study time: 9.5 hours / week for 12 teaching weeks

Remarks: the normative student study load per credit unit is 25 ± 5 hours (ie. 150 ± 30 hours for a 6-credit course), which includes all learning activities and experiences within and outside of classroom, and any assessment task and examinations and associated preparations.

4.2 Details of Learning Activities

To be advised by course convenor(s).

Learning Resources

5.1 Resources

Reading materials: Reading materials posted on Moodle at intervals during the course
Core reading list: TBA
Recommended reading list: Provided in Course Outline, to be posted on Moodle prior to Class 1

5.2 Links

Please refer to the following link: http://www.law.hku.hk/course/learning-resources/