J. Dalhu*sen

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Modern Financial Products (J. Dalhu*sen)

This course deals with a number of modern financial products operating in the international financial markets and with the essences of risk management in terms of modern hedging instruments (futures, options and swaps), securitisations and credit derivatives, and with the objectives and impact of banking regulation focusing also on the new international standards for capital adequacy (Basel II).

As far as the modern financial products are concerned, main problems arise with assets backed funding (like in floating charges, financial leasing, repos, and receivable financing), the characterisation of the relevant modern financial products in the applicable legal systems, and their bankruptcy resistency in a bankruptcy of parties requiring funding. Others concern the operation of the payment and securities transfer systems, the finality of these transfers, the role of clearing and settlement and the operation of central counterparties in this connection.

This is a three credit course which will be given till March 8. Exams will be after the end of this course in March. The main text that will be studied is Dalhuisen on International Commercial, Financial and Trade Law, 3d edition, Chapter 5 (2007).

Exam Notes: F

Investment Treaties (J. Dalhu*sen)

This course will deal with the protection of international investments under bilateral investment treaties (BITs) and with the ICSID arbitration facility. To the extent there is time, we shall also deal with NAFTA arbitration as a specific forum.

The essence of the course is the protection of mulitnational corporations in their foreign investments, but also the scope for corporate misconduct and the different economic and political conflicts that exist in this field.

Exams will be immediately after the end of this course in March.

The main text that will be studied is M Sornarajah, The International Law on Foreign Investment (2nd Ed. 2004) Important is also C H Schreuer, The ICSID Convention: A Commentary (2001, reprinted 2005). For Nafta, see Todd Weiler, Nafta Investment Law and Arbitration (2004). Further reading will be advised in class.

Students should have the text Model BIT Agreement of the US (of the 2004) and of the UK (of 2005) as well as the ICISD Convention, Regulations and Rules.

Good websites are: http://www.arbitration-icca.org
http://www.naftalaw.org
http://www.wto.org
http://worldbank.org/icsid

Exam Notes: F