International Law / Finance and Investment
This is a listing of selected courses which focus on international finance and investment.
J.D. Seminar | 2 credit hours
The Business Law Scholars Program is designed for students who will be working in a business law-related internship/job over the Summer of 2016 and who wish to simultaneously develop their expertise and skills in this area through a related course. It is open to students who have completed their first year.
SEMINAR: The Business Law Scholars course will be taught by Professor Andrew J. Sherman, a partner in the Washington office of Jones Day. Through the course, Business Law Scholars will develop skills in strategic planning, corporate finance, human capital and governance, capital formation, management and communication, the protection and harvesting of intangible assets, business transactions, and effective client management. Students will be expected to maintain weekly journals of their field experiences and be prepared to discuss these experiences in a facilitated discussion lead by Professor Sherman. The quality and depth of the journal entries and experiential learnings are a critical part of the overall grade for the course. The course will meet on Wednesdays throughout the eight-week summer session, from 5:45 p.m. - 9:05 p.m. Business Law Scholars will also have the opportunity to participate in professional networking events through the course.
FIELDWORK: Business Law Scholars must find their own business law-related internships/jobs at law firms, associations, government agencies, non-profits, in-house departments, or other business law-related positions and commit to working 30 hours/week. For the purpose of this program, the definition of business law is broad; we ask that applicants explain how their work relates to business law in the application (see below). Students must be supervised by a lawyer.
APPLICATION PROCESS: To apply to be a Business Law Scholar, please send the following documents to Rachel Taylor, Assistant Dean of Experiential Education (email@example.com)by 9:00 a.m. on Friday, April 1, 2016:
- A resume
- Responses to the following questions:
- Where is your placement?
- Who will be supervising you? Is this person an attorney? What is their position within the office?
- What will your responsibilities be? Will your work be legal in nature?
- How many hours/week will you be working?
- How will your work relate to business law?
- Why are you interested in taking this course?
Any student who has not secured a placement by the April 1 deadline may still apply and should discuss the status of their potential fieldwork options in their application materials. Seats will be awarded first to those students who have placements lined up; if space permits, however, others may be admitted as placements are subsequently confirmed.
All Business Law Scholars must attend the seminar sessions in-person. It is not possible to participate in this program remotely.
All Business Law Scholars will receive two credits for the course. Those Scholars who work for a non-profit business entity and are not being paid may elect to earn three additional pass/fail credits for their fieldwork.
Mutually Excluded Courses: Students may not receive credit for this course and for the program D.C. Advantage: Business and Its Regulation.Students may not concurrently take this course and an externship.
LL.M Course | 3 credit hours
An introductory survey course examining transactional and litigation issues faced by international businesses. The goal of this course is to familiarize students with the broad scope of issues affecting international business prior to the students choosing other courses for further specialization and to introduce students to analytical tools used by lawyers who advise on matters related to international business. Topics will include the international sale of goods (including letters of credit), international contract issues, cross-border financings (including letters of credit and bank financings),and international investments. Litigation topics will be related to the transactional issues covered and will include a special emphasis on contract rights and remedies, choice of law, choice of forum, and international arbitration.
Recommended: International Law I: Introduction to International Law (or the equivalent International Law I).
Mutually Excluded Courses: Students may not receive credit for both this course and International Business Transactions and Dispute Resolution or the J.D. courses, International Business Transactions or International Economic Law.
LL.M Course (cross-listed) | 2 credit hours
Provides a detailed review and analysis of the technique of project financing in an international environment (particularly in emerging markets). Emphasis is placed upon structuring and risk allocation issues, which are looked at in the context of specific transactions and from the perspective of the various parties to the project (equity holders, lenders, providers of goods and services). Material is selected from actual transactions so as to illustrate documentation issues when different sources of financing participate in the project. The aspects peculiar to infrastructure projects (such as power, telecommunications, ports, toll roads, etc.) are also considered.
Recommended: Contracts; Accounting Concepts for Lawyers; Conflict of Laws: Choice of Law (or the equivalent Conflict of Laws: Choice of Law (International Focus)); Corporate Finance; Corporations.
Mutually Excluded Courses: Students may receive credit for only one of the following courses: Developing and Financing Infrastructure Projects; International Project Finance and Investment; International Project Finance & Development: Case Studies; Project Development and Finance or Transacting International Finance.
Note: DISTANCE STUDENTS REGISTER FOR CRN#: 10197. This course is open to both on campus and distance students. However, only students enrolled in the Executive LL.M. in Taxation, the Executive LL.M. in Securities & Financial Regulation, and the MSL programs may take this course on a distance basis. All J.D. students and resident LL.M. students may not enroll in this course on a distance basis.
LL.M Course | 3 credit hours
This course examines legal, business and public policy issues that arise in international project financings, particularly in emerging markets, and analyzes how such transactions are structured and negotiated and related risks are allocated. We consider the typical roles played by parties to such transactions (equity sponsors, lenders, customers, suppliers and host governments), interests associated with such roles, and how competing interests tend to be reconciled. We will focus on how negotiated arrangements are embodied in and supported by typical transaction documentation such as project documents, financing documents and legal opinions. Coverage will include illustrative local law and political risk issues. Selected international investment transactions, both actual and hypothetical, will be used to illustrate recurring themes.
Course requirements include participation in a simulated international project loan negotiation with outside parties serving as clients.
Recommended: International Business Transactions; Conflict of Laws: Choice of Law; Secured Transactions; Corporate Finance.
Mutually Excluded Courses: Students may receive credit for only one of the following courses: Developing & Financing Infrastructure Projects; Infrastructure Projects in Developing and Transition Countries; International Project Finance; International Project Finance and Investment; International Project Finance & Development: Case Studies; Project Development and Finance or Transacting International Finance.
LL.M Seminar | 3 credit hours
The subject of investor-state disputes and their resolution lies at the cutting edge of international law, and is a major factor in the development of the global economic system in years to come. Study of this form of arbitration provides insight into the evolving shape of customary international law, the conflict between capital-importing and capital-exporting states, and the status of individuals in the international legal order. This seminar will provide students with a firm grounding in the history, present practice, and future implications of arbitration between foreign investors and host states, sanctioned by multilateral and bilateral investment treaties. Topics that will be covered in this course are the history of the treatment of aliens and investments under international law; an overview of the most important international treaties that give investors a right to arbitration of claims; the most important elements of procedure that characterize investor-state arbitration, including tribunal composition, jurisdiction, evidence, award and challenge or annulment; substantive law of investment arbitration, the standards that apply when a tribunal determines whether a breach of the treaty has occurred; and the future development of investor-state arbitration including the challenges of globalization and other stresses, the clash of capital-importing and capital-exporting countries, environmental protection and free trade, restrictions on state sovereignty, the construction of an international investment jurisprudence, the limits on arbitrability, and the expansion of multilateral investment protections worldwide.
Active participation in discussion of the course materials is required. Furthermore, each student will prepare a substantial research paper, which will serve as the basis for an oral presentation. Students will also be responsible for critiquing other students' research projects.
Prerequisite: International Law I.
Recommended: International Commercial Arbitration
Note: For the Spring section: FIRST CLASS ATTENDANCE IS MANDATORY. All enrolled and waitlisted students must be in attendance at the start of the first class session in order to be eligible for a seat in the class. STUDENTS MAY NOT WITHDRAW FROM THIS CLASS AFTER THE ADD-DROP PERIOD ENDS WITHOUT THE PERMISSION OF THE PROFESSOR.This course requires a paper. J.D. Students: this will fulfill the J.D. Upperclass Legal Writing Requirement.
J.D. Seminar (cross-listed) | 2 credit hours
This seminar will examine sovereign debt and its role in national and global financial systems. By the end of 2012, national governments had borrowed over $40 trillion from private creditors at home and abroad, and hundreds of billions of dollars more from one another and from international organizations. Government debt is a popular savings vehicle, a benchmark for pricing the risk of corporate debt, and the core asset in national and global financial systems. Sovereign governments may also guarantee borrowing by other important economic actors, from cities and provinces to banks and housing lenders. In many ways, sovereign debt functions like money. Yet it is also effectively unenforceable, since most of the debtors’ property is either immune or inaccessible to creditors. In addition to the basic policy, doctrinal and theoretical concepts in sovereign borrowing and restructurings, we will study recent crises in Europe and Latin America, reform proposals, and implications for the financial system.
Each student will be expected to submit a one-page analysis of each week’s reading, and two five-page papers (one each on the third and fourth parts of the syllabus). Students may choose to submit a single ten-page paper for either the third or fourth part of the syllabus in lieu of the two five-page papers. Each student will also direct class discussion of one assigned reading at least once during the term.
Recommended: Background in financial regulation and/or public international law would be helpful, but not essential.
LL.M Course | 2 credit hours
Concentrates on the U.S. taxation of foreign persons and foreign investments in the United States. The course covers the U.S. taxation of passive and business income of nonresident aliens and foreign corporations, the source rules, the principles and application of U.S. tax treaties, special rules governing foreign investment in U.S. real estate and other business, cross border financing transactions, and tax planning possibilities involved in the foregoing.
Prerequisite: Federal Income Taxation (formerly Taxation I) and either prior or concurrent enrollment in Corporate Taxation (formerly Taxation II) and Corporate Income Tax I.
Mutually Excluded Courses: Students may not receive credit for both this course and the J.D. course International Tax Law or U.S. Taxation of International Transactions.
Note: Required for U.S. trained students pursuing the Certificate in International Taxation.DISTANCE STUDENTS REGISTER FOR CRN#: 13686. This course is open to both on campus and distance students. However, only students enrolled in the Executive LL.M. in Taxation, the Executive LL.M. in Securities & Financial Regulation, and the MSL programs may take this course on a distance basis. All resident LL.M. students may not enroll in this course on a distance basis. J.D. students may not enroll in this course.
LL.M Course (cross-listed) | 2 credit hours
Concentrates on the U.S. taxation of U.S. persons and businesses earning income outside of the United States. The course examines, in depth, U.S. taxation of the international operations of U.S. multinational corporations. It covers Sections 367 and 1248, the Foreign Tax Credit provisions, and Subpart F, foreign currency considerations, and strategic tax planning. The course also includes consideration of the taxation of expatriates, calculations of earnings and profits, and Passive Foreign Investment Companies.
Prerequisite: Prerequisite: Federal Income Taxation (formerly Taxation I) and either prior or concurrent enrollment in Corporate Taxation (formerly Taxation II) and Corporate Income Tax I.
Mutually Excluded Courses: Students may not receive credit for both this course and the J.D. seminar, Congress and the Department of Justice Seminar: Conflict and Cooperation; or the J.D. seminar, International Tax Planning Seminar; or U.S. Taxation of International Transactions.
Note: Required for U.S. trained students pursuing the Certificate in International Taxation. J.D. students may not enroll in this course.DISTANCE STUDENTS REGISTER FOR CRN#: 24005. This course is open to both on campus and distance students. However, only students enrolled in the Executive LL.M. in Taxation, the Executive LL.M. in Securities & Financial Regulation, and the MSL programs may take this course on a distance basis. All J.D. students and resident LL.M. students may not enroll in this course on a distance basis.