Outline

Overview

International finance is front page news: from the role of financial markets in the energy transition, litigation against mis-selling banks, innovative greener products, the contentious role of activist hedge funds (Hindenburg versus Adani Group) and the (over) reliance on rating agencies, there is no escape. Some lenders and funds see an opportunity to prove their worth to the community, others challenging the perceived lack of action. This unit introduces and digs deep into the suite of international financial transactions, with a profoundly practical perspective, whilst also showcasing sustainable and development finance in practice. Key pillars of the unit include lending, capital markets instruments, private equity and funds, derivative markets and project finance. Within each pillar specific financial products are analysed, both from a legal and structuring perspective. We look at lending and negotiate a term sheet. We uncover the drivers and documentation of structured finance products such as securitisation. We will also look at the international regulatory reform; explore derivative products used by short sellers. The role of private equity funds will be explored, and investor litigation is a prominent feature of the unit. The lecturer shares his own transactional experience in development finance, from Asia to Africa and Latin America. Guest lecturers from top tier law firms and major banks explain transactions and risks, giving different perspectives. Case studies and a negotiation session are also included, making this a both challenging and exciting unit. Bottom line: this unit will enhance your skills for application in legal practice. No prior experience in the financial markets is required. Your unit coordinator is JJ de Vries Robb. JJ is a seasoned practitioner and lectures on international sustainable finance. He works at FMO, the Dutch Development Bank. Refer to the Sydney Law School timetable - https://canvas.sydney.edu.au/courses/4533/pages/postgraduate-lecture-timetable

Unit details and rules

Academic unit	Law
Credit points	6
Prerequisites ?	None
Corequisites ?	None
Prohibitions ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	No

Teaching staff

Coordinator	Chidozie Chukwudumogu, chidozie.chukwudumogu@sydney.edu.au

Assessment

The census date for this unit availability is 14 March 2025

Details
Criteria

Type	Description	Weight	Due	Length
Participation	Structured class participation (10%) Participation	0%	Ongoing	Ongoing
Outcomes assessed:
Assignment	Case study (25%) Case study	0%	Week 05 Due date: 24 Mar 2025 at 23:59 Closing date: 07 Apr 2025	1500 words / 5 weeks
Outcomes assessed:
Assignment	Essay proposal (non-graded) Submission of a concise essay proposal	0%	Week 05 Due date: 26 Mar 2025 at 23:59 Closing date: 02 Apr 2025	Approximately 300 words / 2 weeks
Outcomes assessed:
Assignment	Research Essay (65%) Students will complete a research essay on an approved topic	0%	Week 12 Due date: 18 May 2025 at 23:59 Closing date: 01 Jun 2025	5200 words / Approx 7 weeks
Outcomes assessed:
= AI allowed ?

Assessment summary

Structured class participation (10%)

Class participation accounts for 10% of the final grade. Class participation covers the adequate and timely completion of the daily pre-class activities on Canvas (for instance posting comments on an article or document to be reviewed, giving constructive feedback to peer posts), participation in class discussions (including the subject matter of the pre-class activities) and term sheet discussions and negotiations, and making use of the Q&A function on Canvas.

Case Study (25%)

The case study is a ‘deal report’ which is due 11:59pm on 24 March 2025 (Sydney Australia time). It is a short legal essay of ca 1500 words of a transaction-based review. Transactions are based on examples from practice. The purpose of the case study is to have students apply legal theory in transactional practical context. It's also designed to bring learnings forward and avoid a scenario in which students 'duck the bullet', delay class engagement and focus solely on the research paper. All case studies are substantially based on materials taught in class, in combination with research and reference material.

There are three case studies to choose from and they will be released by 11:59pm, 19 February 2025 (Sydney, Australia time) on Canvas. The essay is based on either English or Australian law and must be substantively legal in nature. A full-fledged rubric will be shared with students before the start of classes to assist them in their preparation. Also, the results will be shared with students within a couple of weeks after submitting, along with feedback. The intention is to allow students to use any learnings from their work on the case study into their research paper.

Research essay proposal (non-graded)

As part of the research essay assessment task students are required to submit a topic proposal by 11:59pm on March 26, 2025 (Sydney, Australia time).
The research essay should be written on a topic approved by the lecturer. The topic should be relevant to international finance. A list of topics will be uploaded on Canvas by way of example, as well as guidance on the pitfalls / recommendations on the actual research / writing and a rubric on the assessment criteria. The research proposal should be 1 page A4 / ca 300 words, and detail the topic, the hypothesis, a rough outline and the expected research sources.

Research essay (65%)

The remainder of the final grade is a research paper of 5,200 words, excluding footnotes, bibliography and table of contents on a topic pre-approved by the unit lecturer. The due date of the research essay is 11:59pm on 18 May 2025, Sydney Australia time.

Special Consideration: Successful grants of Special Consideration may involve alternative tasks, as appropriate.

Word Limit Penalty: A piece of assessment which exceeds the prescribed word limit will attract a penalty of 5% of the total marks available for the piece of assessment for every 100 words, or part thereof. The total word count for essay and other written assessments will exclude all footnotes, bibliography and table of contents and exclude acknowledgements of assistance from editors, automated writing tools or generative AI (where use is permitted).

Use of editors or proof-readers: In completing unsupervised assessments, students may use editors, proof-readers, and automated writing tools (including translation software, grammar checkers, reference generators and artificial intelligence), provided that all use is acknowledged and consistent with University policies and procedures including Academic Integrity Policy. Acknowledgment must be made in writing on the front of the work submitted for assessment, or in an appropriate footnote or other reference, and state the name of the person or software.

Assessment requirement to pass a unit of study: A student must make a genuine attempt at all assessment tasks set out in this Unit of Study in order to obtain a Pass mark and grade (or above); otherwise an Absent Fail grade will be recorded as the student’s result for this Unit of Study.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2021 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	• Completely answers the question. • Contains striking originality of approach or analysis. • Demonstrates exhaustive or innovative research (where independent research required). • Exceptionally well written, structured and expressed. • Is otherwise exceptional in some way.
Distinction	75 - 84	• Completely answers the question. • Achieves a critical and evaluative approach to the issues. • Content and structure is well organised in support of the argument. • Demonstrates extensive research and analysis to support a well-documented argument. • Generally well expressed and free from errors. • Has a clear structure and is well articulated.
Credit	65 - 74	• Covers main issues fairly well in answering the question. • Contains no significant errors • Demonstrates an attempted critical approach to the issues. • Demonstrates reasonably sound research and analysis in addressing the key issues. • Has a clear structure and reasonably clear expression.
Pass	50 - 64	• Identifies the key issues, but does not follow through with a reasoned argument. • Contains some significant errors. • Displays satisfactory engagement with the key issues. • Offers descriptive summary of material relevant to the question. • Superficial use of material, and may display a tendency to paraphrase. • Demonstrates little evidence of in-depth research or analysis. • Adequate expression. • Overall, demonstrates the minimum level of competence in the assessment and satisfies the requirements to proceed to higher-level studies in the degree or subject area.
Fail	0 - 49	• Does not answer the question. • Contains significant or numerous errors. • Few or no identifiable arguments. • Content that is inappropriate or irrelevant. • Lack of research or analysis. • Difficult or impossible to understand through poor grammar, expression or structure. • Overall, does not demonstrate the minimum level of competence in the assessment.

For more information see guide to grades.

Use of generative artificial intelligence (AI) and automated writing tools

Except for supervised exams or in-semester tests, you may use generative AI and automated writing tools in assessments unless expressly prohibited by your unit coordinator.

For exams and in-semester tests, the use of AI and automated writing tools is not allowed unless expressly permitted in the assessment instructions.

The icons in the assessment table above indicate whether AI is allowed – whether full AI, or only some AI (the latter is referred to as “AI restricted”). If no icon is shown, AI use is not permitted at all for the task. Refer to Canvas for full instructions on assessment tasks for this unit.

Your final submission must be your own, original work. You must acknowledge any use of automated writing tools or generative AI, and any material generated that you include in your final submission must be properly referenced. You may be required to submit generative AI inputs and outputs that you used during your assessment process, or drafts of your original work. Inappropriate use of generative AI is considered a breach of the Academic Integrity Policy and penalties may apply.

The Current Students website provides information on artificial intelligence in assessments. For help on how to correctly acknowledge the use of AI, please refer to the  AI in Education Canvas site.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

The late submission of a piece of assessment, without an approved extension, will attract a penalty of 5% of the total marks available for the piece of assessment per 24 hours or part thereof, after the due time on the due date. For example, a submission after the due time specified in the assessment summary but before the same time the following day will attract a 5% penalty. Penalties for late submission will be applied strictly, subject to a 1 hour grace period.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Support for students

The Support for Students Policy reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

Weekly schedule

WK	Topic	Learning activity
-	Welcome session (online, date to be confirmed on Canvas)	Seminar (1 hr)
Week 02	Day 1 - Introduction, Regulation of International Finance, Loan Markets	Seminar (6.25 hr)
	Day 2 - Debt Capital Markets and Structured Finance	Seminar (6.25 hr)
	Day 3 - Derivatives Documentation and Regulation, Private Equity and Fund Management	Seminar (6.25 hr)
Week 03	Day 4 - Project Finance, Litigation	Seminar (6.25 hr)

Attendance and class requirements

Attendance: All students are required to attend 70% of classes to satisfy the pass requirements for this unit. Failure to meet this requirement will result in an Absent Fail grade being recorded as the student’s result for this unit (see The University of Sydney Law School Resolutions: Coursework Awards cl 11).

Referencing: The Sydney Law School expects you to use the Australian Guide to Legal Citation (4th edition, 2018) for your footnoting style, although you should confirm this with your lecturer. A link to the library website where this is set out comprehensively is available at Referencing and Citation Styles: AGLC4.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Listed in the Learning Guide that will be available on Canvas. Required readings will be available on Canvas via the ‘Reading List’ page as hyperlinks.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. demonstrate an understanding of the interrelationship of the various parts of the financial markets and the legal principles that govern them through accurate and insightful written work and comments and questions in class
LO2. comprehend the commercial drivers as well as the legal risks involved in each of these markets, and how to mitigate these risks
LO3. demonstrate a detailed understanding of the regulatory reform process and its impact on the financial markets
LO4. develop a working knowledge of how international financial transactions are negotiated and documented in practice
LO5. demonstrate familiarity with the opportunities and challenges presented by sustainable finance in practice.
LO6. demonstrate high-level research and writing skills, especially in developing a critically reasoned argument supported by appropriate research

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

inclusion of mini-lectures for the various topics covered in the unit. These are short videos (2-3 minutes or so), pointing students to the key points to consider or reflect on.

Additional information

Resources - Sydney Law Students

Disclaimer

Important: the University of Sydney regularly reviews units of study and reserves the right to change the units of study available annually. To stay up to date on available study options, including unit of study details and availability, refer to the relevant handbook.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI) and automated writing tools

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

LAWS6138: Internatl Fin Transactions: Law and Prac

Semester 1a, 2025 [Block mode] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI) and automated writing tools

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links