LS553L: DEBT FINANCE LAW (2020-2021)

Last modified: 05 Aug 2021 13:04

Course Overview

This is a compulsory law course for the LLM/MSc in Corporate Finance. It will explore issues within the law of debt finance, principally focused on the laws of the UK (including English law and Scots law, where appropriate) but with reference to other systems too. It will provide students with a wider and deeper understanding of various debt finance issues that are crucial to the law of corporate finance.

Course Details

Study Type	Postgraduate	Level	5
Term	Second Term	Credit Points	15 credits (7.5 ECTS credits)
Campus	Aberdeen	Sustained Study	No
Co-ordinators	Dr Alisdair Macpherson

What courses & programmes must have been taken before this course?

Either Master Of Science In Corporate Finance And Law or Master Of Laws In Corporate Finance And Law
LS503N Introduction to Corporate Finance Law (Studied)
Any Postgraduate Programme

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

None.

Are there a limited number of places available?

Course Description

This course will cover a number of topics of particular relevance to the law of debt finance. The content of the course will include the following:

Unsecured debt finance: this will involve consideration of the legal concepts of debt and credit and how and why companies raise funds by unsecured borrowing. It will involve discussion of debt instruments (including the types of bond available) and provisions within loan documentation (such as financial covenants).
Securitisation and derivatives: there will be discussion of the concept of securitisation and how such transactions are constructed. In addition, attention will be paid to derivative instruments and the role that these play in securitisation transactions and beyond.
Secured finance: there will be consideration of the role of secured lending within the corporate finance sphere. This will incorporate discussion of the value of security rights, the various types of security right available, and how the law in this area in different jurisdictions could be reformed to better meet the needs of parties involved in corporate finance.
Floating charges: given its importance within the field of corporate finance, particular attention will be paid to the floating charge. Its nature, operation and enforcement will all be discussed in order to better understand the role it plays in corporate finance transactions.
Corporate insolvency: this will incorporate analysis of how insolvency of a company may arise, and consideration of the various types of insolvency process that a company may enter if it has insufficient finance available.

Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

More Information about Week Numbers

Details, including assessments, may be subject to change until 30 August 2024 for 1st term courses and 20 December 2024 for 2nd term courses.

Summative Assessments

1500 word essay 25%

48 hours written exam 75%

Resit: resubmission of failed elements

Formative Assessment

There are no assessments for this course.

Course Learning Outcomes

Knowledge Level	Thinking Skill	Outcome
Conceptual	Understand	To obtain knowledge and understanding of various aspects of debt finance law, with reference to the UK and beyond.
Procedural	Evaluate	To determine the most appropriate legal approaches or solutions within the context of debt finance scenarios.
Procedural	Create	To develop and enhance key legal and transferable skills, including argumentation, communication, critical analysis and problem solving.