Course requirements
Master degree in Law. This course is part of the Advanced Master Law and Finance.
More information: https://www.universiteitleiden.nl/en/education/study-programmes/master/law-and-finance
Course information
This course is one of the two core courses of the curriculum. It focuses on the transactions concluded by banks and other financial institutions that are mainly aimed at providing finance. The course will start with an introduction to private international law, i.e. conflict of laws regimes, for the question which law applies to a certain transaction is of paramount importance in any international transaction. Subsequently, various categories of transactions will be discussed. These transactions will first be introduced with structure charts and their underlying (economic) rationale, after which their legal complexities will be dissected. Transactions so analysed will include loan finance, securitisations (i.e. structured finance), derivatives and repurchase agreements (i.e. collateralised finance). Always, attention will be paid to insolvency law, for insolvency law is the background scenario of any solid transaction analysis. Since the shape financial transactions take often is influenced by tax considerations, attention will be paid to the most relevant (international) tax issues that play a role in international finance. If time permits, we may discuss, as a separate topic, the nature of cryptocurrencies like bitcoin, their technological background (i.e. blockchain technology), the operation of different types of crypo-custodians and rights of crypto-investors in case of crypto-custodian insolvency.
Course learning objectives
The objective of this course is to provide thorough knowledge and insight in the most important financial transactions that are concluded by banks and other financial institutions that are mainly aimed at providing finance. After completion of the course,
Students obtain an overall perspective and understanding of how banks and other financial institutions provide finance;
More specifically, students obtain knowledge and understanding of how to determine which law applies to a certain transaction, and which court would be competent to resolve disputes involving such a transaction;
Students obtain knowledge and understanding of the (economic) rationale and structuring of the most important categories of transactions that are concluded on the (international) financial markets;
Students are able to critically analyse different categories of financial transactions;
Students are able to critically analyse the rules applicable to those transactions, including conflict of laws rules, private and insolvency law rules, as well as tax law rules, and are able to apply those rules to a concrete transaction;
Students are able to explain and evaluate some of the major challeges brought by new technological developments such as cryptocurrencies; and
Students are able to clearly and concisely analyse and discuss, in writing, relevant issues that concern international financial transactions.
Mode of instruction
Lectures & seminars
Number of (2 hour) lectures & seminars: 20
Names of lecturers: Prof. Dr. Matthias Haentjens; Prof. Dr. Rogier Raas; Prof. Dr. Pim (W.A.K.) Rank; Prof. Dr. Henk Vording; Ilya Kokorin LLM.
Required preparations by students: reading of prescribed materials, preparation of case studies and any other assignments.
Examination method
Written assignment: 30%
Final exam: 70%
The final grade, on the scale from 1 (poor) to 10 (outstanding), for the course is established by determining the weighted average of the written assignment and the final exam, and rounded to full grades. Grade 6 (5.5 rounded) is a pass.
The written assignment will require students to write an essay of 2500 words on one of the topics discussed in the course.
The final exam will be a written exam or an oral exam. The final exam covers all the material delivered during the lectures and the seminars.
Further information about the written assignment will be communicated to students through Brightspace closer to the assignment due date.
Brightspace
Course reader and additional literature is distributed through Brightspace.
Submission of written assignment via Brightspace using Turnitin.
Course materials
M. Haentjens & P. de Gioia-Carabellese, European Banking and Financial Law, 2nd edn, London: Routledge 2020.
Ph. Wood, Law and Practice of International Finance, Sweet & Maxwell 2008 (or the reprint 2011).
M. Bogdan & M. Pertegás Sender, Concise Introduction to EU Private International Law, 4th edn, Europa Law Publishing, 2019.
As well as articles and papers specifically assigned per week as set out in the course reader or Brightspace.
Course reader is available to be downloaded from Brightspace.
Contact
Course Coordinator:
Ilya Kokorin LLM
Email address: i.kokorin@law.leidenuniv.nl
Programme Coordinator:
Ms. Orsolya Kalsbeek-Bagdi
Email address: lawandfinance@law.leidenuniv.nl
Disclaimer: This course has been updated to the best of our knowledge at the current time of publishing. Due to the Covid-19 pandemic and the fluctuating changes in lock down regulations all information contained within this course description are subject to change up to 1 September 2021.
Due to the uncertainty of the Covid-19 virus after 1 September 2021, changes to the course description can only be made in the event of strict necessity and only in the circumstances where the interests of the students are not impinged. Should there be a need for any change during the duration of the course, this will be informed to all students on a timely basis and will not be to the prejudice of students. Modifications after 1 September 2021 may only be done with the approval and consent of the Faculty Board.