LAWS6997 – Cross-Border Deals

This unit is for law graduates and students for the JD degree who have, or intend to have, a practice that exposes them to cross-border financings and acquisitions. The unit highlights the distinctive concepts and practices of overseas securities and corporate laws in cross-border transactions and focuses on resolving the challenges non-Australian issues can pose to transactions even if Australian law applies to many aspects of the deal.

The lecturer was for over 30 years a merger & acquisition and securities lawyer in the US (resident for several years in Australia) and a significant portion of the class will cover US laws and practices on cross-border deals. The US segment will begin with a brief examination the US Federal system in which corporate and securities law responsibility is allocated between the states and Federal government, proceed to a practical discussion of the process of offering securities in the US and how it can affect non-US offerings, and finally will conclude with an exploration of the regulation of takeovers under US law. Significant US M&A concepts and practices, including mergers, break-up fees, poison pills, and proxy fights will be discussed. The remainder of the class will focus on deal regulation of other overseas jurisdictions in which there has been recent activity (likely including the UK, Japan and other European and Asian countries). Practical consequences of the regulatory requirements of these jurisdictions will be discussed, particularly as they relate to M&A, as well as certain subjects that have worldwide applicability (such as due diligence to determine possible corruption, vendor due diligence and directors' duties).

The unit will be taught by a series of lectures, and guest lecture/panel discussions. For example, in prior years, when we discussed due diligence, a pair of US and Australian practising securities lawyers joined the class to engage in a mock negotiation on how to conduct due diligence to satisfy very different legal standards in the two jurisdictions. Another panel of an investment banker and a lawyer discussed the factors they considered in advising clients whether to offer debt offshore and, if so, where.

The purpose of the unit is to assist Australian and other non-US lawyers in:

  1. identifying potential cross-border issues and
  2. being creative in solving the challenges that arise in international securities transactions

Session

Semester 2 Intensive
9 October 2014 (6:00PM-8:00PM) Introduction
17, 18 & 24, 25 October 2014

The timetable is subject to frequent changes. Please refer to the latest version of the Postgraduate Timetable.

Assessment

  • Class Participation (15%)
  • Take-Home Quiz (30%)
  • Take-Home Exam (55%)

Assumed Knowledge

Undergraduate law degree. Students undertaking this unit must have a good working knowledge of the Australian Corporations Act and the rules and practices applicable to securities offerings and takeovers or the equivalent in their home jurisdiction.


Please note: This unit replaced LAWS6997 Cross-Border Deals - A US Perspective.

Continuing Professional Development (CPD)

You can credit this unit towards Continuing Professional Development (CPD). Units of study that are part of Sydney Law School’s Postgraduate Program meet the necessary Mandatory Continuing Legal Education (MCLE) of the Law Society of New South Wales and the Continuing Professional Development (CPD) requirements of the New South Wales Bar Association. You may complete this unit of study by enrolling on a non-degree basis or on an audit basis only with no assessment via Single Unit Study.

Courses this unit is available in

Master of Laws | Graduate Diploma in Law | Master of Global Law | Master of Business Law | Master of International Law | | Graduate Diploma in Commercial Law | Graduate Diploma in Corporate, Securities and Finance Law | Graduate Diploma in International Business Law | Graduate Diploma in International Law | Master of International Business and Law