Chris Hale (Chair Emeritus of Travers Smith) gave a lecture entitled 'Private Equity: Its place in corporate finance and how it works' on 28 February 2020 at the Faculty of Law as a guest of 3CL. This lecture by Chris Hale, Chair Emeritus of Travers Smith, will explore the economic and legal aspects of private equity, reflecting on its global reach, its growth from its origins in venture capital, and its importance in the context of M&A. As well as an in-depth analysis of the legal structure, he will consider the reasons for its success, the current trends and tis prospects in the future. Chris Hale is a senior consultant in the Private Equity & Financial Sponsors Group of Travers Smith, which he founded in 1996. Chris was Senior Partner between 2013 and 2019, and Head of Corporate from 2003 to 2013. He is listed as among the world’s leading lawyers in private equity by the Legal List 500 and Chambers Global, and as an eminent practitioner for UK Corporate M&A and private equity by Chambers and Partners. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

3CL Travers Smith Seminar Series

'Private Equity: Its place in corporate finance and how it works' - Chris Hale: 3CL Travers Smith Seminar

Ryan Abbott (University of Surrey) gave a lecture entitled 'The Principle of AI Legal Neutrality' on 25 February 2020 at the Faculty of Law as a guest of 3CL. AI and people do not compete on a level-playing field. From a safety perspective, AI may be the best choice for driving a vehicle, but laws often prohibit driverless vehicles. At the same time, a person may be better at providing customer service, but a business may automate because it saves on taxes. AI may be better at helping companies to innovate, but using AI may keep these companies from obtaining intellectual property rights. In The Reasonable Robot, Ryan Abbott argues that the law should not discriminate between people and AI when they are performing the same tasks, a legal standard that will ultimately improve human wellbeing. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

'The Principle of AI Legal Neutrality' - Ryan Abbott: 3CL Travers Smith Seminar

Jon Lukomnik (Sinclair Capital & IRRC Institute) gave a lecture entitled 'Blackrock's Environmental Activism: The Third Stage of Corporate Governance' on 4 February 2020 at the Faculty of Law as a guest of 3CL. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

'Blackrock's Environmental Activism: The Third Stage of Corporate Governance' - Jon Lukomnik: 3CL Travers Smith Seminar

Dr Suren Gomtsian (University of Leeds) gave a lecture entitled 'Shareholder Engagement by Large Institutional Investors' on 28 January 2020 at the Faculty of Law as a guest of 3CL. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

'Shareholder Engagement by Large Institutional Investors' - Suren Gomtsian: 3CL Travers Smith Seminar

Professor Howell E. Jackson (Harvard Law School) gave a lecture entitled ""Nobody is Proud of Soft Dollars": A Critical Review of Excess Brokerage Commissions in the United States and the Significance of Recent MiFID II Reforms in the European Union" on 21 October 2019 at the Faculty of Law as a guest of 3CL. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

'"Nobody is Proud of Soft Dollars": A Critical Review of Excess Brokerage Commissions in the United States and the Significance of Recent MiFID II Reforms in the European Union' - Howell E. Jackson: 3CL Travers Smith Seminar

The first of four lectures of the LLM Corporate Governance course delivered by Professor Brian Cheffins which form an introduction to the Cambridge LLM Masters Degree Course in Corporate Governance Law. These introductory lectures cover the following topics: a) Corporate Governance as a topic for study; b) Defining Corporate Governance; c) Corporate Governance's Emergence as a Prominent Issue; d) Tiers of Regulation; e) The Separation of Ownership and Control in the UK; f) Agency Costs; g) Practical Constraints on Managerial Conduct. This lecture was delivered on 17 October 2019.

Corporate Governance LLM Cambridge - An Introduction, Part 4

Corporate Governance LLM Cambridge - An Introduction, Part 3

The second of four lectures of the LLM Corporate Governance course delivered by Professor Brian Cheffins which form an introduction to the Cambridge LLM Masters Degree Course in Corporate Governance Law. These introductory lectures cover the following topics: a) Corporate Governance as a topic for study; b) Defining Corporate Governance; c) Corporate Governance's Emergence as a Prominent Issue; d) Tiers of Regulation; e) The Separation of Ownership and Control in the UK; f) Agency Costs; g) Practical Constraints on Managerial Conduct. This lecture was delivered on 10 October 2019.

Corporate Governance LLM Cambridge - An Introduction, Part 2

The first of four lectures of the LLM Corporate Governance course delivered by Professor Brian Cheffins which form an introduction to the Cambridge LLM Masters Degree Course in Corporate Governance Law. These introductory lectures cover the following topics: a) Corporate Governance as a topic for study; b) Defining Corporate Governance; c) Corporate Governance's Emergence as a Prominent Issue; d) Tiers of Regulation; e) The Separation of Ownership and Control in the UK; f) Agency Costs; g) Practical Constraints on Managerial Conduct. This lecture was delivered on 10 October 2019.

Corporate Governance LLM Cambridge - An Introduction, Part 1

Professor Andrew Keay & Professor Joan Loughrey (University of Leeds, UK) gave a lecture entitled "Should Judges Review Directors’ Business Judgment(s)?" on 21 February 2019 at the Faculty of Law as guests of 3CL. Directors are rarely held legally accountable for decisions that have poor outcomes. A key reason is that courts have asserted that the exercise of director’s business judgment should be immune from judicial review. Thus classifying a decision as a business judgment provides directors with a powerful shield from accountability. Yet the meaning and boundaries of the concept of business judgment and the consequences of review/non-review have received little attention. In their seminar, Professors Keay and Loughrey will address this gap by: (1) establishing what is meant by business judgment, (2) identifying how the courts apply this concept, and (3) assessing to what extent directors’ decisions in England and Wales should be subject to review by the courts. 3CL runs the 3CL Travers Smith Lunchtime Seminar Series, featuring leading academics from the Faculty, and high-profile practitioners. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

'Should Judges Review Directors’ Business Judgment(s)?' - Andrew Keay & Joan Loughrey: 3CL Travers Smith Seminar

Professor Susan Watson (University of Auckland, New Zealand) gave a lecture entitled "An Eversion in Thinking: The Company as a Persona Ficta" on 26 February 2019 at the Faculty of Law as a guest of 3CL. The argument that forms the basis of this seminar is that the modern company is a legal entity that is a persona ficta; a juridical person separate from all natural persons. Professor Watson will argue that being a persona ficta separate from all natural persons enables the company to capture forms of value derived from the people who work for the organisation, or who transact with the company. The company converts that value to forms of capital that it combines to generate further value. That lock in of capital over time has made size, scope and scale possible within the corporate form. That value extends beyond financial and other forms of capital to organisational systems. The accounting and later legal separation of the fund as a legal entity not just from shareholders but from all the people who are part of the organisation made partitioning of that value in the persona ficta possible. 3CL runs the 3CL Travers Smith Lunchtime Seminar Series, featuring leading academics from the Faculty, and high-profile practitioners. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

'An Eversion in Thinking: The Company as a Persona Ficta' - Susan Watson: 3CL Travers Smith Seminar

Professor Samuel Buell (Duke University, USA) gave a lecture entitled "The Global Expansion of Corporate Criminal Liability: Effective Enforcement Policy Across Legal Systems" on 12 February 2019 at the Faculty of Law as a guest of 3CL. The United States model of corporate crime control, developed over the last two decades, couples an extremely broad rule of corporate criminal liability with a practice of reducing sanctions, and often withholding conviction, for firms that assist in public enforcement by detecting, reporting, and helping prove criminal violations. This model has recently attracted more interest among law reformers in overseas nations, who have sought to increase the frequency and size of their own enforcement actions by adopting features of the U.S. approach. By focusing almost entirely on the law of corporate criminal liability and the process of criminal settlement, the international discussion of corporate criminal enforcement law and policy, as well as the literature on corporate crime, have missed how the U.S. model depends on what we term background laws. These are rules such as self-incrimination rights, legal privileges, and data privacy regimes that control the relative powers of governments and corporations to collect and use evidence of business crime. This Article exposes that omission, explains how background laws operate and differ in the U.S. and overseas, and advises law reformers on how to shape corporate enforcement policy in light of domestic law’s allocation of investigative powers between public and private spheres. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

'The Global Expansion of Corporate Criminal Liability: Effective Enforcement Policy Across Legal Systems' - Samuel Buell: 3CL Travers Smith Seminar

Professor Dr Alexander Schall of Leuphana Law School, Germany gave a lecture entitled "The Principle of Unjust Enrichment – A Comparative Perspective" on 29 Januyary 2019 at the Faculty of Law as a guest of 3CL the Cambridge Private Law Centre. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/ and the Private Law Centre website: http://www.privatelaw.law.cam.ac.uk/

'The Principle of Unjust Enrichment – A Comparative Perspective' - Alexander Schall: 3CL/CPLC Travers Smith Seminar

Jennifer Hill (Professor of Corporate Law at the University of Sydney Law School) gave a lecture entitled "Liability for Seriously Flawed Corporate Cultures" on 22 November 2018 at the Faculty of Law as a guest of 3CL. 3CL runs the 3CL Travers Smith Lunchtime Seminar Series, featuring leading academics from the Faculty, and high-profile practitioners. For more information on past events including recordings, please refer to the Centre activities page. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

'Liability for Seriously Flawed Corporate Cultures' - Jennifer Hill: 3CL Travers Smith Seminar

Dr Jay Cullen (University of Sheffield) gave a lecture entitled "The Case for Abolishing Deposit Insurance Limits" on 13 November 2018 at the Faculty of Law as a guest of 3CL. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

'The Case for Abolishing Deposit Insurance Limits' - Jay Cullen: 3CL Travers Smith Seminar

The Centre for Corporate and Commercial Law (3CL) at the Faculty of Law, University of Cambridge, was formally opened by Lord Mustill at the conclusion of its first conference on 'Shareholder's Rights and Remedies' (held on the 12 April 1997). The 3CL has links with similar institutions in universities around the world, and through the Faculty's Herbert Smith Visitor Programme, it is able from time to time to invite leading international corporate and securities lawyers to Cambridge. The 3CL is a member of Cambridge Finance which coordinates the programmes of research and study in all areas of finance across the University of Cambridge. 3CL is grateful to Travers Smith for the generous support of the Seminar Series. For more information see the Centre for Corporate and Commercial Law website at http://www.3cl.law.cam.ac.uk/

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3CL Travers Smith Seminar Series

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