BUDAPEST LLM : SCHEDULE & PROGRAM DATES FOR SUMMER 2012

The Program will be offered each summer during a consecutive two-week period and consists of 5 days of classes, all day, Monday through Friday, each week.

Assignments and Course materials will be distributed in advance of the session to allow candidates to allocate their time most efficiently in preparation for classes. Classes will be taught primarily by way of case analysis and candidates are expected to be able and willing to participate actively in English in the classroom discussion of the law.

CLASS SCHEDULE

The Law of Mergers and Acquisitions in the U.S. - taught by Professor Joseph Franco

Mergers and acquisitions in the United States are an established feature of corporate planning and these transactions have become an important area of corporate legal specialization. In the U.S., the law of mergers and acquisitions is shaped by diverse sources of doctrinal principles, including corporate law, contracts and securities regulation. This course will provide an introduction to the key structural features of these doctrinal areas as applied to M&A transactions. The course will use case law to explore corporate statutory requirements, fiduciary duties of corporate actors, contracting issues, and securities law considerations, but discussion will also give some attention to transactional planning implications. The course is not designed to analyze the financial dimensions of these extraordinary business transactions; although some attention will be given to the economic and financial motivations of the transaction participants, no prior familiarity with finance will be assumed.

Method of Examination: Candidates will be evaluated based on a final take-home examination and on a one hour, mid-term quiz given on Monday, July 16th.

Candidates without a background in Corporate Law are encouraged to attend five introductory lectures held during the first week of classes. the following topics will be covered from 8:00 am - 8:30 am, Monday, July 9 - Friday, July 13: State Law and Basic Attributes of Corporations as Business Entities; Formation of the Corporation and Statutory Formalities; The Board's Duty of Due Care, Business Judgment & Exculpation; Loyalty (1): Self-Dealing and Corporate Opportunities and Loyalty (2): Bad Faith.

U.S. Environmental and Energy Law taught by Professor Steven Ferrey

With the recent emphasis on urgent new climate change regulation, there is a new confluence of environmental and synergy issues in the U.S. and the E.U. and other OECD countries. The most substantial contribution to climate change is the generation of power. This course will look at several issues regarding how the environment and energy sector are regulated in the U.S. legal system, which is different than certain other OECD systems in terms of the significant authority vested at the state level, as well as other jurisdiction as at the federal level in the U.S.

This course is taught using several problem simulation sets where participants utilize legal materials and court decisions to address a typical environmental or energy problem from a particular client's legal perspective. This is designed to teach skills as well as substantive information. Problem sets involving representing local government trying to regulate the transport of spent nuclear fuel from a domestic power reactor, representing clients in a "Superfund" action to clean up hazardous substances, advising a developer on U.S. regulation of new renewable energy development, and some treatment of U.S. initiatives on climate change -- The E.U. has been regulating CO2 since 2005, the Kyoto Protocol has been regulating greenhouse gases since 2008, and several states in the U.S. have been regulating CO2 since 2009.

Method of Examination: Take home examination at the conclusion of the course. Class participation in problem solving exercise will be stressed during the class meeting session.

Comparative Financial Regulation taught by Professor Kathleen Engel

The meltdown of subprime mortgages triggered a financial crisis in 2007 that threatened the world economy and threw many countries into recessions. In response to the economic meltdown, countries issued more debt. As of the fall of 2011, there is speculation that Greece, Portugal, Italy and Spain may default on their debt, which like the subprime crisis, could have a worldwide contagion effect.

We will begin the course by studying how obscure mortgages in the United States triggered financial mayhem, including the roles of market and regulatory structures, and how problems in the mortgage market in the U.S. had (and continue to have) spillover effects around the world. The course will then examine the legal regimes that different countries have adopted to address risky mortgage lending and the financial instruments that mortgage loans back. Throughout, we will examine and critique models for mortgage regulation, including disclosure, suitability, self-regulation, and product screening. We will also review the growing field of behavioral economics and consider whether and how this new field should inform policy.

My goal is for students, by the end of the course, to have a strong understanding of mortgage markets, the regulation of financial services, and the potential for contagion when financial firms go awry.

The only pre-requisite for this course is curiosity and a willingness to participate in class discussions.

All classes will be held in the facilities of ELTE in Budapest, Hungary.