UCL FACULTY OF LAWS

LLM Programme

The taught modules offered on the LLM programme vary from year to year. Please check the full list of taught modules list for details of modules running in specific academic years. We make every effort to ensure that every module will be offered, but modules are subject to change and cancellation. You are therefore advised to check this site regularly for further updates throughout the year preceding entry to the LLM programme.


INTERNATIONAL AND COMPARATIVE SECURED TRANSACTIONS (LAWSG101)
Credit value: 30 credits (12 ECTS)
Module Convenor:
Professor Richard Calnan
Other teachers:
Prof Rob Chambers
Intercollegiate teaching: No
Teaching Method: Block seminar during reading weeks (weeks commencing Monday 4 November 2013 and Monday 17 February 2014)
Who may enrol: LLM students
Prerequisites: None
Barred module combinations: None
Core module for specialism: International Commercial Law
Assessment
Practice Assessment: To be confirmed
Assessment method for LLM students: 6,000 word coursework essay
Module Overview

Module summary

The availability of security is one of the key elements in the provision of finance to companies. This module considers how security is granted by companies and the legal and practical issues which are involved in doing so.


The taking of security is an aspect of the law of property, and the module will therefore consider some of the key principles underlying the creation of property rights, particularly equitable interests. And because security is generally tested when the debtor is insolvent, it considers the way in which insolvency law affects secured transactions, particularly their enforcement.


The module concentrates on English law, but will draw on the experience of the class of other legal systems to discuss the topic in a comparative way. The module will also consider the conflict of laws issues which arise in cross-border financing transactions

Module syllabus

Part 1 (the first week):

  • Security and quasi-security structures.
  • Types of security - pledges, mortgages, charges and floating charges.
  • The creation of security, secured obligations and security trustees.
  • Registration of security.
  • Quasi-security.
  • Guarantees.

Part 2 (the second week)

  • Priorities
  • Enforcement and insolvency.
  • Set-off.
  • Cross-border issues.
  • Reform.

Recommended materials

The main text is Calnan, Taking Security: Law and Practice (3rd edition forthcoming). Other key texts are Beale, Bridge, Gullifer and Lomnica, The Law of Personal Property Security (2nd edition, 2012) and Lingard's Bank Security Documents (4th edition) and Goode's Legal Problems of Credit and Security (4th edition).

Preliminary reading

Because the module will be taught over two weeks, it is essential that students have read the relevant materials before the seminars.

Other information:

All asterisked material on reading lists must be read. All other material should be read where possible, and at least the relevant principles understood.

Prizes for this module: There are currently no prizes available for this module.


APPLICATION NOTICES

The application process for the 2014-15 academic session, for entry in September 2014, is now open.

Please refer to the How to apply section for information on the application process.