CCLS Alumni Bulletin, Issue 6, Summer 2013

AlumniCentre forCommercial Law Studies

Sixth Edition – Summer 2013

7Ethics in Businessand in Finance?Thinking BeyondRegulation

6Bank Resolutionin Lithuania:Learning by Doing

8An Interview withCCLS Founder Sir Roy Goode

4Singapore: Asia’sEmerging GlobalIP Hub

12Arbitration inPortugal

Bulletin

2 CCLS Alumni Bulletin – Summer 2013

Alumni Newsletter Editors

Please contact us if you have any comments or if you would like to write an article for the bulletin.

Diane DennyCCLS Development DirectorOversees the CCLS Development andAlumni Office and is responsible for thestrategic direction of the Centre’s development programme.Tel: +44 (0) 20 7882 8058 email: [email protected]

Katherine ZaimCCLS Alumni and EventsDevelopment ManagerDevelopment and alumni support at CCLS.Organises CCLS public events,conferences, summer schoolsand seminars.Tel: +44 (0) 20 7882 8481email: [email protected]

Juliet BaillieAlumni, Events andDevelopment AdministratorAdministrative support for the CCLSDevelopment and Alumni Office and theevents programme.Tel: +44 (0) 20 7882 6181email: [email protected]

Dear CCLS Alumni

I would like to begin by thanking allthose who have written articles for thisissue of the Bulletin. We are alwaysdelighted to hear from our alumni andare grateful for their contributions, aswell as those of staff and students hereat CCLS.

2013 marks the 80th birthday ofProfessor Sir Roy Goode CBE QC FBAthe founder of the Centre forCommercial Law Studies. In 1980, SirRoy created the Centre to promote thesystematic study and research ofnational and international commerciallaw and its social and economicimplications, something which remainsat the heart of our agenda today. Sir Royis Honorary President of CCLS, an activemember of our Advisory Council andchairs our Development Board. You canread an interview with him by The RoyGoode Professor of Commercial Law,Philip Rawlings, on pages 8-9. These

pages also include information on theRoy Goode Scholarship Fund.

This issue also includes an interviewwith Professor Rawlings by one of ourcurrent LLM students, Salomé SeladasQueiros Dos Santos (page 5). He notonly explains his own background andexperience of law but also takes theopportunity to introduce the newInsurance Law Institute here at CCLS.Established in 2012, the Insurance LawInstitute launched the first specialistLLM in Insurance Law. Queen Mary isone of only a few universities in theworld where students can study for sucha degree.

This 6th issue of the CCLS AlumniBulletin also includes articles onSingapore’s role as a global IP hub;banking resolution in Lithuania; ethics inbusiness and finance; arbitration inPortugal, and the importance ofinternships and work experience forCCLS students.

With all good wishes!

Professor Spyros M ManiatisHead, Centre for Commercial Law StudiesQueen Mary University of London

Welcome from the Head of CCLS

If you would like any further information, to update your contact details or to contribute an article to the bulletin please email us at [email protected] or telephone Katherine Zaim at the CCLS alumni office on +44 (0) 20 7882 8481.

This publication has been produced by Marketing and Communications for the School of Law – QM13-0018. The information givenin this publication is correct at the time of going to press. The College reserves the right to modify or cancel any statement in it andaccepts no responsibility for the consequences of any such changes. Any section of this publication is available upon request inaccessible formats (large print, audio, etc.). For further information and assistance, please contact: Diversity Specialist, [email protected], +44 (0) 20 7882 5585.

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Articles inthis issue:4 Singapore: Asia’s Emerging Global

IP HubConstance C L Leong, LLM, Class of1999

6 Bank Resolution in Lithuania: Learningby DoingSigita Adomaitytė, LLM Banking andFinance, Class of 2011

7 Ethics in Business and in Finance?Thinking beyond regulationDominic Janßen, current LLMCandidate in Banking andFinance Law

8 Interview with Roy Goode on theoccasion of his 80th Birthday

9 The Roy Goode Scholarship Fund

11 Internships and Work-experience forCCLS Students: How You Can Help

12 Arbitration in PortugalGonçalo Malheiro and Pedro Sousa,Co-Founders of YAR -Young Arbitration Review

Regular Features

05 Ask the Professor

10 Alumni Profile

13 Events

14 Did You Know?

15 On the Bookshelves

16 Alumni News

All views represented in these articles arethose of the writers and contributors.

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If you would like any further information, to update your contact details or to contribute an article to the bulletin please email us at [email protected] or telephone Katherine Zaim at the CCLS alumni office on 020 7882 8481.

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CCLS Alumni Bulletin – Summer 2013

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Singapore: Asia’s Emerging Global IP Hub

After several rounds of public consultations,garnered from inside and outside Singapore,a 3+2 approach was decided upon:

3 Strategic Outcomes

• An international hub for IP transactionsand management

• A hub for quality IP filings for companiesall over the world

• A choice venue for IP dispute resolution

2 Enablers

• Skilled manpower resources networked tothe region and beyond

• A conducive and progressive environmentfor IP activities

The Singapore Government envisions anIP ecosystem in Singapore with marketplaceelements, such as IP financing andIP valuation.

Singapore already boasts a robust andworld-class IP regime. Patent laws havebeen progressively amended in 2012 to bealigned with international practices and tobuild world-class search and examinationcapabilities in specific technology areas.Recruitment for patent examiners by theIntellectual Property Office of Singapore(IPOS) has been aggressive and is ongoing.

IP-related jobs, including IP strategists, IPvaluation analysts, and professionaldevelopment trainers will be created. Moredetails will be revealed when IPOS rolls outthe IP Competency Framework (IPCF), todefine the competencies required toaccredit training providers andtheir programmes.

Tax incentive schemes (applicable, forexample, to the associated fees paid toprofessional service providers) have beenintroduced to encourage local IPregistrations. Tax deductions for IP activitiesacross the value chain, including IP in-licensing for IP created outside Singapore,have also been announced.

Judicial support from the SingaporeSupreme Court is also being established,such as in the form of court assessors (fortechnical expertise) and amicus curiae (forlegal expertise) for the IP Court.

Interestingly, the Singapore Governmentdoes not seem to view foreign legal eaglesas existential threats to the local legalindustry, as is the case elsewhere in theworld. On the contrary, Singapore hasrelaxed its regulations on foreign lawyerssince 2008 and on foreign patent attorneysin 2012.

Given that there is a strong correlationbetween the size of country’s domesticmarket and the number of IP filings, asseen in the WIPO Patent Cooperation TreatyPCT Newsletter (March 2013 issue), onecannot but wonder how Singapore, with apopulation size of 5.3 million and adomestic market size index of 4.1, hopes toachieve Asian Global IP Hub status.

Only time will tell but, for now, one can takeheart from Singapore’s various ‘miracle,’success stories—a small country that hasalready attracted global attention as acentre of international arbitration and theworld’s second busiest port (afterShanghai). Singapore is also the onlycountry outside Switzerland to house asecond office of the World IntellectualProperty Organisation Arbitration andMediation Centre WIPO AMC. Singaporehas also been ranked, by the WorldEconomic Forum in 2012/13, as the world’ssecond most competitive economy (afterSwitzerland), second in IP protection (afterFinland) and first in efficiency of legalframework in settling disputes. No meanachievements amidst a climate of downcastglobal markets and regional economicwoes.

The full Report is published on theSingapore Ministry of Law website:

http://www.mlaw.gov.sg/content/dam/minlaw/corp/News/IP_Hub_MP_Report.pdf

This article was originally published on:www.gohpc.com


Constance C L Leong, Associate, GOH PHAI CHENG LLC Advocates &Solicitors, Singapore. LLM Alumna, Class of 1999.

The Singapore Government has plans to develop Singapore as a Global IntellectualProperty (IP) Hub in Asia and it knows that any endeavor on such a large scale would bebest effected by a Committee of experts. This Committee comprises of a banker, lawyers,a university professor, a research institute, an international tax and accountingorganisation, research and development organisations, local and foreign technologycompanies, high-ranking government officials across various ministries and, to top it off,the chairman of Singapore’s largest media broadcaster.

Image courtesy of the Singapore Tourism Board

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tremendous supportfrom the industry. All ofthis will provide anadded dimension to theteaching on themodules.

How could alumni keepengaged and up to datewith the Institute anddevelopments inInsurance Law?

The alumni links at QM and CCLS areexcellent, but I think a virtual meeting point,which provides information on the Instituteand Insurance Law, is a great idea. I willinvestigate!

Turning to your personal path as an academic,why did you decide to turn to Insurance Lawand how did you come to CCLS?

I left school at 16, joining the Civil Service,then a bank. While taking professionalbanking exams, I became interested in lawand took a correspondence course to qualifyfor university, beginning my studies at 24.After graduation, I taught at Aberystwyth,Brunel and Warwick universities, thenUniversity College London where I becameProfessor of Finance Law. The move to CCLSwas an easy decision since it allows me towork with the best Commercial Lawacademics and students in a departmentwith tremendous breadth and depth and withambitious plans, such as the LLM in Paris. Asfor Insurance Law, I began teaching andwriting in this area 20 years ago because ofits relative neglect in universities. Coming toCCLS has allowed me to focus more on myteaching and research in this area.

This is the first year of the Insurance LawLLM at Queen Mary, which is unique in theUniversity of London. As the programmedirector, what do you believe is the outcomeof this first year and how do you think thisLLM will develop in the future?

CCLS has always pioneered ideas, andinsurance is such an important area –international trade and finance isinconceivable without it – that an LLM inInsurance Law seems obvious, but I didwonder how the modules would be received.I should not have worried because theresponse has been wonderful with excellentstudents thoroughly engaging in thisfascinating topic. Credit goes to my excellentcolleagues, Dr Miriam Goldby and Dr TinaLoverdou, who have also developed anexciting new LLM in Shipping Law(commencing 2013). Lots of other plans fornext year, including the development ofmodules in insurance litigation andcomparative insurance law and short coursesfor the industry. The highlight is that SirBernard Rix joins us from the Court of Appealwhere he exercised immense influence oninsurance law.

The UK insurance industry is quite differentfrom any other in the world. Face-to-facecontact is still an important part of thisbusiness. How can this be shown to studentsso they have a practical view of the market?

Understanding the market is importantbecause of its effect on how law works. In2012-13, we welcomed leading practitionersand undertook some teaching at Lloyd’s, andnext year’s programme builds on this. Ishould add that the Institute has received

Ask theProfessor

The Roy Goode Professor ofCommercial Law, Philip Rawlings,interviewed by Salomé SeladasQueiros Dos Santos, current LLMStudent in Insurance law andqualified lawyer, Portugal.

We know you are really enthusiastic aboutthe Socratic method in class. Which do youbelieve is the best way to make studentsparticipate and add to the discussions?Do you think that being on an internationalprogramme makes any difference tothe students?

I enjoy discussions in class. I think it isimportant to involve students in their ownteaching. Asking them to contribute meansthey think about the things they read andchallenge the things I say. Some students arenervous or shy or not used to challenging aprofessor, and I find that humour can helphere, even if (or, perhaps, especially where)the jokes are rather bad. My aim is thatstudents understand what the law is and howit changes. The international nature of theprogramme is wonderful. It builds a broaderpicture of how law works and allows socialand intellectual connections between peoplewho are interesting and likely to be influential.

Bank Resolution in Lithuania: Learning by DoingSigita Adomaitytė, Associate at professional law partnership “Motieka & Audzevicius”,LLM Banking and Finance, Class of 2011

1 EUR 0.9 billion.

On the eve of the bankruptcy of SNORAS,the problem of the gap in legislation hadamplified, and as a result the Parliamenturgently adopted new legislative amendments,the most significant of them being:

• establishment of a bridge bank;

• establishment of a provision allowing thetransfer of assets and liabilities of thebank, whose activities had been restrictedby the BoL, to another bank.

Nevertheless, even though the bridge bankwas set up as a measure for sustainingfinancial stability, it was not used. Such ascenario was seriously considered in the UBcase but was ultimately rejected as beingtoo expensive. The advantage of a bridgebank is that this type of measure is notconsidered as an insured event under theinsurance deposit scheme, hence noinsurance premiums are paid to thedepositors and if managed successfully,the bridge bank could be sold profitably inthe market.

The transfer of assets has raised practicalissues in the UB case. Before transferringthe troubled bank’s assets to another bank,the assets should be assessed: there is arisk that they are unevaluated but the bankto which these assets have been transferredcould later sell said assets for a higher valuethan purchased. The laws are silent onsuch situation. In addition, state aid couldbe involved, since there is no clear procedureon how a particular bank is selected.

The most debatable issue is the ranking ofthe bankrupted bank’s creditors’ claims. TheEU regulation encourages avoidingregulations that place the creditors in a worseposition under bank resolution in comparisonwith ordinary insolvency rules. UnderLithuanian bank bankruptcy procedures, the

Insurance Deposit Fund (“IDF”), once itcompensates the claims of depositors notexceeding EUR 100,000, assigns claimsrights of these depositors. It follows that theIDF should be ranked the same as otherbank creditors. However, the claim of the IDF,by ranking it as a second rank creditor andabove other creditors, fails to establish non-discriminatory regulation. This issue wasresolved (?) the Constitutional Court. In July2013 it adopted a decision confirming thatcreditors’ ranking under the Law on Banks islegitimate as it ensures public interest to havea stable and reliable financial system. As aresult, the district court approved theSNORAS creditors’ ranking. However, itseems to be a never-ending story since morethan 400 SNORAS’ creditors have appealedthis decision.

The answer of whether the measure taken bythe BoL could be justified should be left forthe future. The good side is that theresolution of two domestic banks hasrevealed the weaknesses of the ex antesupervision of the banks, the legislation gapsand the practical problems, which, it isbelieved will be resolved in the near future.



While the SNORAS case was shocking forsociety at large, the restriction of the UBwas anticipated. The shares of SNORASwere nationalised (bankruptcy wasinitiated), whereas UB was divided into‘bad’ and ‘good’ banks, with bankruptcybeing initiated for the former and assetsbeing transferred to another bank for thelatter. Even though the BoL has accused theshareholders of the banks of risky activities(e.g. providing loans for non-residents),the role of supervision of the banks isprescribed to the BoL, hence it shouldtake responsibility for the lack of the exante supervision.

Within a period of less than two years the Lithuanian financial system faced enormous challenges:at the end of 2011 the largest domestic bank, SNORAS, was declared bankrupt, followed by theresolution of another bank, UKIO BANKAS (“UB”), in 2013. It is debatable whether the actionstaken by the Bank of Lithuania (“BoL”) against the two (and, unfortunately, the only remaining)domestic banks and the corresponding use of public funds1 are justifiable.

This article has been amended by the author to reflect the latest developments in Lithuania.

Ethics in Business and in Finance?Thinking beyond regulation

There is a strong belief that ethics inbusiness and finance is a contradiction interms. Inspired by this, as a part of thenewly introduced postgraduate module inEthics in Business and in Finance at CCLS,a series of lectures were held to helpunderstand and overcome this apparentcontradiction. The rationale behind theopen-lectures was to identify and discussthe current events of the financial crisis andthe most recent cases of economic crimewith the following thread of thoughts.

Ethical issues arise from dubious businesspractices that happen in real life; hence anunderstanding of how these issues shouldbe handled within firms is important. Thus,an empirical approach helps to get the fullpicture. Financial crimes, especially briberyand money laundering are examples ofunethical behaviours. The fact that thesehave been addressed by regulators provesthe necessity of considering ethicalstandards in day-to-day business. However,the series made it clear that it is not aboutconducting a witch hunt based on somesuperior morality that allegedly lacks withinthe usual conduct of financial institutions.What really needs to be considered is thatcorporate and financial behaviours obeyand reflect a specific culture and thatrelationships among players areshaped accordingly.

Recently, there has been a continuous flowof news about unethical conducts in thefinancial and corporate systems. Whether itis institutions laundering money for drugcartels, securitising their risk in order togain short term profits without consideringthe long term consequences and/or riggingbenchmarks for the sake of profit, thesebehaviours should be treated under microand macro rationales that complement oneanother. We believe that these unethicalbehaviours should be understood not as theindividual mistakes of a few rotten apples,but as the manifestation of a bigger culturalproblem. In realising that there is animbalanced cultural situation, i.e. banks

an ethical counterbalance, it is now for us tosearch for the instruments that willintroduce it into every-day business life.

This way of understanding current eventsalso needs to be addressed on an academiclevel; in this way the series of open lectureson ethics are at the cutting edge, fostering adebate that sheds light on vital change. Wewould like to use this opportunity to thankDr Russo for her avant-garde lessons andmodule that inspired us to think outside thatinfamous box.

CCLS offers an LLM module on Ethics inBusiness and in Finance. Further detailscan be found at:

www.law.qmul.ac.uk/postgraduate/llm/modules/76335.html

have forgotten their purpose as a driver forcommon prosperity, ethics becomes theappropriate tool to foster a necessarycultural change.

This idea is neither new nor particularlyinnovative and is cited so often that it mightnot be taken seriously enough. Nevertheless,ethics must be applied and not consideredonly as a theoretical rulebook for do-gooders. So far, misbehaviours causing pastcrises have been regulated as a goneconcern and not as a going concern.Crises arose in times of under-regulation;loopholes were exploited and, due to thelack of a sufficient cultural system,not counterweightedappropriately. It couldbe easily arguedthat moreregulation isneeded inorder toachieve balance.However, this resultsin a pendular system, wheremovements from under-regulation to over-regulation comeas a result of the transition fromstability to crisis.

So the question remains as to how toimplement a sufficient cultural systemas a counterbalance which avoidsdetrimental exploitation of loopholes anddiscourages greedy behaviours. The answermay be simpler than one may think: thepractical application of ethics fosters acultural change that recognises the value ofmarkets based on cooperation rather thanon aggressive competition and herdbehaviours. For instance, among the manylessons that can be learnt from the currentcrisis, is that competition itself can open thedoor to greedy blindness. Hence, appliedethics must be considered part of riskmanagement and as a driver towards anincrease in public prosperity andinstitutional profits. Having indentified riskmanagement as an appropriate means to

Dominic Janßen, Research Assistant and PhD Candidate Ruhr-Universität Bochum,Germany, and current LLM Candidate, Commercial and Corporate Law; and JuanPablo Puerto Reyes, current LLM Candidate, Banking and Finance Law.

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An Interview with Professor Sir Roy Goodeon the Occasion of his 80th Birthdayby Professor Philip Rawlings

The occasion of the 80th birthday of Professor Sir RoyGoode CBE QC FBA provides an opportunity to celebratethe role he has played in shaping modern commercial law. Hisachievements are too many to list in full here, but chiefamong them was the establishment of the Centre forCommercial Law Studies at Queen Mary, which he founded in1980 and in which he still plays an important role. Among hispublications, his books Legal Problems of Credit and Security(first published 1982), Commercial Law (first published1982), Principles of Corporate Insolvency (first published1990), and Consumer Credit Law and Practice (1999)continue to define their fields, and his most recent book,Transnational Commercial Law (2007), demonstrates the wayhe still probes the boundaries of the subject. He has alsomade significant contributions to practice, first as a solicitorand then as a barrister, and to public life through his work ona range of committees and advisory boards. Finally, histeaching of generations of students has had an enormousimpact on the shape of commercial law throughout the world.


Most of my professional life has resulted froma series of accidents. My move to become thesecond professor at the Queen Mary LawSchool resulted from a chance meeting with aQMC visiting professor followed by adiscussion with the founding Dean, ProfessorRoger Crane. Three months after I took up myappointment Roger went to Australia on ayear’s sabbatical. So having never taught inmy life or been to University I found myselfActing Dean of a law school. How the QueenMary law faculty survived that year I will neverknow! I remained a consultant to the firm ofwhich I had been a partner for the next 17years, when, following a chance remark by afriend over a game of chess one Sundayafternoon, I transferred to the Bar.

Do you think there is something artificial anddisruptive in the distinction often drawnbetween law practitioners and academics?

No, they do different things. Legal practice isproblem-oriented. So far as the issueconcerns law at all the lawyer focuses onthose aspects relevant to the matter the clientwants resolved. By contrast the academic laysout a field or part of a field in his or her

teaching. What I did regret when I firstbecame an academic was the gulf thatexisted between academics and practitionerswhen each branch had so much to contributeto the work of the other. Happily that gulf isvery much less now that it was. Manyacademics devote part of their time topractice, particularly in giving legal Opinions,whilst it has become common for practisingbarristers and solicitors and retired membersof the Bench to give lectures and seminars atuniversity law schools.

The Centre for Commercial Law Studies haspioneered research and teaching incommercial law for more than 30 years.Could you tell us how the decision toestablish CCLS was made and what you sawas its main objectives?

I felt there should be a strong academiccomplement to the activities of the City ofLondon as one of the world’s leadingcommercial and financial centres. CCLS wascommitted to four fundamental principles:advanced teaching and research incommercial law; an international andcomparative approach; close collaboration

I want to start with your career path. Youbegan your working life by training as asolicitor, what made you decide on that asa profession?

I left school at 16, so I never went toUniversity - a fact I successfully concealedfrom generations of law students! I hadassumed that the practice of law was all aboutmurder, robbery and rape. I was considerablydisconcerted when, on my first day in theoffice at the age of 16, I was sat down withBlundell’s Rent Restrictions Guide, and amatter concerning the Increase of Rent andMortgage Interest (Restrictions) Act 1920,section 12(6) which read as follows:

“Where this Act has become applicable to anydwelling-house or any mortgage thereon, itshall continue to apply thereto whether or notthe dwelling-house continues to be one towhich this Act applies.”

I found this an intellectual challenge!

Could you tell us something about thereasons for your shift from practising as asolicitor to becoming an academic?

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with law faculties and research institutesabroad and with the practising professions;and the development of interdisciplinary work.What drove the Centre from its earliest dayswas the enthusiasm and commitment of allwho worked in it, whether as academics oradministrators. We recognised no boundariesto what we could achieve and we saw our roleas identifying what we wanted to do and thenmaking it happen. I believe that under mysuccessors CCLS has achieved all thoseobjectives.

A really big question now, what do you seeas the main challenges facing commerciallaw and practice today and what do you feelCCLS has to offer?

The fragmentation of our commercial law,which is largely uncodified and consists of amass of case law on which disparate and outof date legislation has been imposed. Thismeans that finding the law is an arduousexercise involving a considerable expenditureof time, labour and money, much of whichcould be avoided if we had a commercialcode. Our American colleagues take theircommercial law seriously and keep it up to

after my name should not be properlycredited with authorship in the title of thearticle rather than confined to the footnotes.How does it feel to have buildings, ateaching room, scholarships and even myown Chair named after you?

I don’t feel I deserve all these accolades - butI can’t deny that it’s nice to have them!

One last question. What would be your desertisland piece of music, book and work of art?

Beethoven’s sonata no. 30, Tolkien’s Lord ofthe Rings and the 1895 version of Cézanne’sThe Card Players.

Roy may talk of his wish to retire from thelaw, but I am happy to report from mydiscussions with him and from seeing him inmeetings that his enthusiasm shows no signof waning. He is full of ideas. Long may hiscontributions to CCLS and to commercial lawcontinue. Happy birthday, Sir Roy.

date with regular reviews. In England we lacka driving force for the reform of commerciallaw, which successive governments havenever taken seriously. I believe that the CCLS,in addition to its other activities, has a role toplay in bringing about the simplification andmodernisation of English commercial law.

I know that retirement from Oxford has notslowed you down and that you are activelyinvolved in the law and CCLS, what areyour plans?

To retire from law! After 64 years in law I wantto try my hand at writing fiction. I wasincautious enough to mention this to one ofmy Oxford colleagues. “Oh”, he said “Ithought that’s what you’ve been writing foryears!” But I would like to maintain myinvolvement with CCLS for as long as it iswilling to have me.

We at CCLS would resist such a retirement!I notice that the former CCLS building onCharterhouse Square retains the “Roy GoodeHouse” plaque, even though we vacated itseveral years ago, and I have been asked byone publisher to whom I submitted an articlewhether this Roy Goode person mentioned


The Centre for Commercial Law Studies(CCLS) is seeking support for the RoyGoode Scholarship Fund which willenable the most talented postgraduateresearch students from across Europeand beyond to attend CCLS courses.Every year we have a considerablenumber of excellent candidates who areunable to take up their places due to thelack of funding.

Demand far outweighs supply as foreach scholarship we offer we receivemore than 15 applications. Being able to

offer further scholarships would ensurethat those who deserve a place on meritare not restricted by the cost of fees.

To support the Roy Goode ScholarshipFund, you can make a donation onlinevia www.ccls.qmul.ac.uk/support

If you would like to request a donationform or have a link with an organisationthat may be interested in supporting thefund, please contact us at [email protected], we will behappy to provide further information.

Roy Goode Scholarship Fund

Tizhong LIAO, an LLM student from the Centrefor Commercial Law Studies, Queen MaryUniversity of London in the academic year of2002-2003, is now Deputy Director General ofinternational taxation in the StateAdministration of Taxation (SAT) of thePeople’s Republic of China. Liao’s functionscover roughly five areas:

• The first is the facilitation and supervision ofthe enforcement of chapter VI (special taxadjustments) of the Enterprise Income TaxLaw including transfer pricing investigation,cost sharing arrangement, advance pricingagreement (APA), contemporaneousdocumentation, controlled foreigncompanies, thin capitalization, general anti-avoidance rules and interest levy.

• The second is the negotiations,interpretations and applications of doubletax agreements.

• The third is the mutual agreementprocedure (MAP) with treaty partners.

• The fourth is non-resident taxadministration.

• The fifth is the competent authorityrepresentative for the SAT of the People’sRepublic of China.

Liao also served as First Vice Chair of theUnited Nations' Committee of Experts ofInternational Cooperation in Tax Matters in theyears from 2009 to 2012. In addition Liao isan active participant and a renowned speakeron international tax affairs in OECD and otherimportant forums.

Alumni Profile



New Energy &Natural ResourcesLaw LLM

There is now a significant demand fromboth students and the legal market todevelop new programmes in thisemerging field which covers the oil, gas,nuclear, mining and renewable andsustainable energy industries.

Queen Mary University of London, is oneof the first HE institutes in England to runan LLM in Energy and NaturalResources Law.

Professor Loukas Mistelis, Director of theSchool of International Arbitration and theClive M Schmitthoff Professor ofTransnational Commercial Law andArbitration at Queen Mary’s Centre forCommercial Law Studies (CCLS), said:"Energy and Natural Resources are two ofthe most thriving sectors of the economyand they have brought about majorregulatory and transactional challenges.This area is complicated, where detailedknowledge of the relevant legal issuesaffecting the energy sector needs to beallied to an acute understanding of thecommercial challenges.

“Queen Mary’s CCLS is well placed todevelop this new specialism as we have anumber of academics who are experts inthis field. This programme will enable ourstudents to develop the core skillsrequired to advise domestic andinternational energy and utility companiesoperating in this highly regulated industry.It builds on the very well establishedareas at QM, such as Commercial Law,Dispute Resolution, Environmental Lawand Regulation and also creates thefoundations for knowledge creation anddissemination for an additional teachingand research centre of excellence.

“We will be looking at Energy from acomparative, international and inter-disciplinary perspective focusing on bothregulatory and transactional matters. Thisis a very exciting and pioneering ventureat Queen Mary."

The new LLM specialism in Energy andNatural Resources Law runs fromSeptember 2013. Professor MalgosiaFitzmaurice, who specialises ininternational environmental law and holdsa chair of public international law at QM,will be one of the experts contributing tothe new course.

Further details of the new LLM can befound at:http://www.law.qmul.ac.uk/postgraduate/llm/programmes/energy/index.html

Energy and Natural Resources is one ofthe fastest growing sectors of theeconomy and as it continues to expand sotoo does the need for qualified lawyers inthe UK and abroad to work in the area.

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Internships and Work-Experience forCCLS Students: How You Can Help

Recent opportunities for students haveranged from a few days work-shadowingexperience in the High Court or Court ofAppeal, to summer placements at theUnited Nations, leading national andinternational law firms and internationalorganisations. The structure of each positionis individually tailored to the requirements ofthe employer and can last for as little as afew days or up to 12 months. They can alsobe carried out on a part-time basis duringterm-time, or on a full or part-time basisduring vacation periods.

Feedback shows that students are pleasedwith the opportunities provided. Forexample Ngozi Onodugoan, an LLM studentwhose studies include e-commerce andcomputer law, was delighted to be selectedfor a summer internship with the UnitedNations Conference on Trade andDevelopment (UNCTAD). She explainedthat she has always wanted to work with theUnited Nations in some capacity and is verypleased as the position offers “…a greatopportunity to understand theintergovernmental processes and thefunctioning of United Nations”. She notesthat the internship will complement herstudies as she will be working on the LawReform Programme which involves assistingdeveloping country governments buildcapacity to deal with legal issues related toe-commerce and information andcommunications technologies. Moreover,she is happy “... to be part of a projectwhich is helping to improve trade andgrowth in developing countries by assistingthem create suitable legal frameworks”.

In view of the economic climate and shortageof work-experience positions, CCLS studentslike Temitope Lawal also work hardthemselves and compete against strongopposition to find and obtain internships.Students understand the importance that thisexperience provides. Temi commented it can,“serve as a practical springboard intoprofessional life after the LLM.” This summerhe is working with Advocates for InternationalDevelopments (A4ID) and commended CCLSfor helping him secure this position,explaining that the Centre; “…made sure Igot all the necessary support in terms ofapplying for internships and tips for excellingat interviews”.

However, to enhance the support we provideto students, we need to make moreinternship opportunities available to them.CCLS cannot do this alone and we thereforeask alumni who are established in their owncareers to reach out to current students andoffer support to those following on.

If you would like to discuss offering a work-experience opportunity to one of our studentswe would love to hear from you. No matterwhere on the globe your organisation isbased, or in which sector or industry itoperates, there is sure to be a student whowill benefit from the opportunity you canprovide. In return you will gain the assistance,specialist knowledge and enthusiasm of oneof our talented students.

For more information or to discuss offering aninternship please call Dr Pippa Heath on:+44 (0) 20 7882 8066 or e-mail CCLSCareers Consultant, [email protected]

CCLS staff understand that it is much moredifficult today than a number of years agofor students to find openings andopportunities in the legal profession. AsJulia Hörnle, Professor in Internet Lawcommented, “every opportunity that helpsstudents make the transition fromacademic excellence to professionaltraining is important”. Together with DannyPreiskel, the Senior Partner of Preiskel &Co, Julia has therefore inaugurated theannual Preiskel & Co essay writingcompetition where students are asked towrite a well-researched, in-depth analysis ofa current topic with practical application.Runners-up in this competition receive acash prize, and the winner both a cashprize and a three week internship withPreiskel & Co. As Danny Preiskel remarked,“It is a pleasure to offer this opportunity toCCLS students as they are of the highestcalibre. Over the years we have recruited anumber of CCLS alumni and thiscompetition is our way of saying thank-you.” He confirmed that his firm looksforward to maintaining connections with atalented pool of students from across theworld and to continue to offer prizes and aninternship to the brightest and the best.

Internships and work experience are an excellent way for students to gain valuableknowledge and develop the skills that lead to employment. To help students securethese positions CCLS support them in seeking out and making successful internshipapplications. In addition, over the course of the last academic year, CCLS has alsobegun to actively source and develop a range of different work experience positionsfor QM postgraduate law students by working with business, firms and CCLS alumniwho have forged successful careers.



Arbitration in Portugal

On December, 14 2012, the currentPortuguese Law on Voluntary Arbitration(“LAV”) was enacted, superseding theprevious law which was in force for twentysix years.

LAV was aimed at regulating several mattersthat lacked due legal treatment – or aconvenient one – which the previous law didnot. One could argue that Portugal is now ajurisdiction with a rather modern arbitrationlaw, in line with most Model Law countries,although it deviates slightly from some of theUNCITRAL Model Law’s solutions whichresult from specific particularities of thePortuguese legal system.

The goal with LAV was – and still is – to turnPortugal into a more attractive venue as anarbitral seat; a neutral forum with a modernarbitration law and with all the facilities thatmay allow international parties, with either acivil or common law background, to find afamiliar and arbitration friendly environmentto have their disputes settled. The distinct

contributing to the organization ofarbitration conferences such the one thattook place recently in Lisbon in May of2013, co-hosted by Young ArbitrationReview (YAR - www.yar.com.pt) and ICCPortugal (the first ICC YAF & YARArbitration event in Portugal).

Portugal’s new arbitration law, its increasingarbitration community and friendlyarbitration environment, along withPortugal’s fantastic infrastructures – notablyarbitration centers, associations, law firms,excellent universities, great hotels, exquisiterestaurants – and Portugal’s uniquehospitality, will see Portugal becoming arather interesting seat for internationalarbitration disputes to take place.

connections between Portugal and otherPortuguese speaking countries, notablyBrazil and Angola, were in the mind of thePortuguese legislator.

Evidently, LAV represents an alternative tothe Portuguese judicial system wheredespite the swiftness shown by certainState Courts over the last years, particularlyin Lisbon - there is a considerable backlogof pending judicial claims.

At the present time a considerable numbercases, both ad hoc and institutional, arepending. There has been a clear increase inthe latter, notably at the CommercialArbitration Centre of the PortugueseChamber of Commerce and Industrry (PCCI).

Arbitration has expanded to new areas oflaw, and arbitral disputes are seen in areassuch as intellectual property, public law, taxlaw and disputes regarding generics andreference pharmaceutical products(mandatory arbitration). This represents asignificant evolution; previously, there wereonly arbitrations in disputes related tocommercial matters.

Leading law firms in Portugal attract lawyersspecializing in arbitration who have clearlyinvested their time in studying internationalarbitration both overseas and in Portugal,publishing articles and disclosing studiesrelated to arbitration. Likewise, certainuniversities have specific arbitration andother ADR courses (post graduation andLLMs). The Portuguese ArbitrationAssociation, which inclusively created aspecific group for arbitration practitionersunder 40 years old, and the PCCI, with itsCommercial Arbitration Centre, have givena unique contribution to the development ofarbitration. Finally, it is worth mentioningthe increase of the ICC Portugal’s activityover the last three years, notably by

Gonçalo Malheiro is Junior Partner at PBBR Law Firm and co-head of its Litigation / Arbitration Department. He completedhis LLM at CCLS in 2007. Pedro Sousa Uva is an Associate atMiranda Correia Amendoeira & Associados and graduate of thePortuguese Catholic University Law School (2003). Pedro andGonçalo are Co-Founders of YAR - Young Arbitration Review

Events

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02 September 2013 Online International Arbitration Award Writing - Award Writing Exam course begins

24-25 October 2013 TBC, London Alumni Tax Event

November 2013-March 2014 CCLS, London Open Lectures: Ethics in Business and Finance (four lectures)

04 November 2013 TBC, London EQE Training Programme on European Patent Law and Practice

07 November 2013 CCLS, London New Voices in Commercial Law - Seminar 1

12 December 2013 (TBC) CCLS, London Online Security Conference

31 January 2014 CCLS, London Avoir Fiscal Tax Conference

04 February 2014 CCLS, London New Voices in Commercial Law - Seminar 2

06 March 2014 CCLS, London New Voices in Commercial Law - Seminar 3

31 March 2014 CCLS, London ICC/SIA Annual Lecture

30 May 2014 Online International Arbitration Award Writing - Award Writing Exam course begins

Summer 2014 TBC, London Workshop on Maritime Arbitration

Conferences, Courses and Events

For further information on forthcoming events please see our website www.ccls.qmul.ac.uk/events



Former Faculty Members Return to Speakat CCLS

On 14th February Professor GrahamDutfield, University of Leeds, gave a lectureat CCLS titled, Did Kary Mullis Really Inventthe Polymerase Chain Reaction? ProfessorDutfield was previously a Herchel SmithSenior Fellow at Queen Mary and his wasthe first of a series of lectures to be given byHerchel Smith Fellows from CCLS’s thirty-year history. Professor Jeremy Philips willbe the next to present and Professor EstelleDerclaye (University of Nottingham) hasalso been confirmed as a speaker. Furtherdetails will be available on the CCLS Eventspage as they become available,www.ccls.qmul.ac.uk/events/index.html

Franco-British Lawyers

The CCLS Paris LLM Programme has beenawarded the 2013 Franco-British Lawyers'Society Prize. The prize rewards "significantcontributions to Franco-British legalrelations". Dr Maxi Scherer, Director of theParis LLM, received the award from LordHope of Craighead, Deputy President of theSupreme Court, who noted that the excitingprogramme was precisely the type of projectthe Society wished to promote in order to givethe opportunity to French and British lawyersto work and study alongside each other.

The award ceremony was held earlier thisyear at the House of Lords, where LordSpeaker Baroness D'Souza welcomed the100 guests and Sir Michael Tugendhat,President of the Society led the evening'sevents. A keynote speech was given by theFrench Ambassador, His ExcellencyBernard Emié, who stressed the importanceof the Franco-British relationship within theEuropean framework.

The prize will be used to award one ParisLLM student each year for outstandingacademic results and his/her interest infostering trans-cultural legal relationships.Professor Spyros Maniatis, Head of CCLScommented: “On behalf of all Queen Marystaff I am delighted and honoured that theFranco-British Lawyers' Society hasdecided to award us this prize. Indeveloping the programme, we have placedgreat emphasis on working closely with ourFrench partners and this prize recognisesCCLS’ international and comparativeapproach and commitment to furthercultivate our continental links”.

For further information on the Franco-British Law Society see: www.franco-british-law.org

Professor Rosa Lastra voted ‘PostgraduateSupervisor of the Year’ in QM StudentUnion Awards

Rosa Lastra, Professor in InternationalFinancial and Monetary Law, has beenvoted ‘Postgraduate Supervisor of the Year’by students in the Queen Mary StudentUnion Education Awards 2013.

Professor Lastra received her award at aceremony held in Drapers Hall on Friday 15March. The QMSU Education Awards bringtogether the SU’s Course Rep Awards and theTeaching and Learning Awards for the firsttime to celebrate all of the good work inteaching and learning that is taking placeacross the university.

Did you know?These student led awards received 200nominations and included awards forEmployability Enhancement, Assessment andFeedback, Learning Resources, Course RepChampion, Support Staff Member of the Yearand Teacher of the Year, as well asPostgraduate Supervisor of the Year.Professor Susan Dilly, Vice Principal forTeaching and Learning, commented on theAwards: "It was great that the categories,nominations and voting for the awards wereentirely student led for the first time. TheEducation Awards gave us the chance tocelebrate QM's community approach toenhancing the student experience. It waswonderful to be able to celebrate thecontributions of our teaching staff and ourcourse reps together.

SIA nominated twice for Global ArbitrationReview Awards

The School of International Arbitration wasnominated for two Global Arbitration Review(GAR) 2013 Awards. The Paris LLM wasnominated for the category “bestdevelopment”, while International ArbitrationCase Law (IACL), a new database forarbitration case law, was shortlisted in thecategory “innovative contribution”.

IACL is a private, not-for-profit academicendeavour under the direction of Dr IgnacioTorterola and Professor Loukas Mistelis. Inpartnership with the School of InternationalArbitration, the IACL aims at disseminatingimportant decisions relevant to legalpractitioners and scholars in the field ofinternational arbitration and dispute resolution.

The IACL's objective is to summarize, edit,and coordinate the publication of decisionsrendered by arbitral tribunals, internationaltribunals and national courts in matters ofinternational arbitration and related legalissues. At the early stage of this project, themain focus will be on internationalinvestment arbitration.

15CCLS Alumni Bulletin – Summer 2013


On the BookshelvesAcademic Liaison Librarian (Law), Nick Holloway and Intellectual PropertyArchive Librarian, Malcolm Langley recommend the following new book releases

Intellectual property enforcement: acommentary on the Anti-Counterfeiting TradeAgreement (ACTA)Michael BlakeneyCheltenham: Edward Elgar, 2012ISBN 9781849800037

This important book is the first detailedanalytical treatment of the Anti-Counterfeiting Trade Agreement (ACTA) andits impact on intellectual propertyenforcement.

Introduction to the unitary patent and theUnified Patent Court: the (draft) rules ofprocedure of the Unified Patent CourtPieter Callens & Sam GranataAlphen aan den Rijn: Kluwer LawInternational, 2013ISBN 9789041147578

Describes in detail all the provisionsregarding the new European Unitary Patentand Unified Patent Court, explaining theirrationales and the processes that led to them.

Indigenous peoples’ innovation: intellectualproperty pathways to development [e-Book]Peter Drahos & Susy Frankel (eds.) Canberra: Australian National University EPress, 2012

Analyses the relationship between intellectualproperty and indigenous innovation. Eachcontributor explores the possibilities andlimits of intellectual property when it comes tosupporting innovation by indigenous people.

The law and economics of intellectualproperty in the digital age: the limitsof analysisElkin-Koren, N. & Salzberger, E.M.Abingdon: Routledge, 2013ISBN 9780415499088

Explores the economic analysis ofintellectual property law, with a specialemphasis on the Law and Economics ofinformational goods in light of the pastdecade’s technological revolution.

Constructing European intellectual property:achievements and new perspectives [EIPINSeries]Christophe Geiger (ed.)Cheltenham: Edward Elgar, 2013ISBN 9781781001639

A comprehensive assessment of the currentstate of intellectual property legislation inEurope with direction on how an improvedsystem might be achieved.

Electronic Documents in Maritime TradeMiriam GoldbyOxford: Oxford University Press, 2013

The focus of this work is on the function ofelectronic documents in cross-borderbusiness-to-business contracts for the saleof goods carried by sea. It provides apractical analysis of this commercial activity,examining recent trends in practice andtesting the ability of electronic alternatives toachieve legal functions performed by thepaper documents they replace.

Hungarian media lawAndrás Koltay (ed.)Complex Kiadó: Wolters Kluwer csoport

A new study on the much-debated mediaregulation in Hungary collects thecontributions of 12 expert authors fromvarious fields of media law.

Financial crisis containment andgovernment guaranteesJohn Raymond LaBrosse, Rodrigo Olivares-Camina & Dalvinder Singh (eds.)Cheltenham: Edward Elgar, 2013ISBN 1781004994

This book analyses the internationalcommunity’s commitment to forgingenhanced, well thought-out, mechanismsfor containing systemic risks in the contextof a highly interconnected global financialframework.

Climate change and international tradeRafael Leal-ArcasCheltenham: Edward Elgar, 2013ISBN 1781956081

This book examines the interface of climatechange mitigation and international tradelaw with a view to addressing the question:How can we make best use of theinternational trading system experience toaim at a global climate change agreement?

European Union Corporate Tax LawChristiana HJI PanayiCambridge: Cambridge University Press,2013

This unique study traces the historicaldevelopment of EU corporate tax law andprovides an in-depth analysis of a numberof issues affecting companies, groups ofcompanies and permanent establishments.

The law of private investment fundsTimothy SpanglerOxford: Oxford University Press, 2012ISBN 0199657734

The only book to focus on the law andregulatory issues arising with privateinvestment funds from an asset-class neutralperspective, Spangler’s new edition addressesthe impact of the global financial crisis.

A shifting empire: 100 years of the CopyrightAct 1911Uma Suthersanen & Ysolde Gendreau (eds.)Cheltenham: Edward Elgar, 2013ISBN 9781781003084

A bird’s eye perspective of why and how thefirst global copyright law launched a newlegislative order in nine countries.

Alumni News Summer 2013

The winners of the 2012 awards were: FloraCook - Director’s Prize for Certificate in TradeMark Law and Practice; Jennifer McDowall -Director’s Prize for MSc Management ofIntellectual Property; Dr Paul Dunne - BillCaro Prize Winner and Best Overall Student;Daniel Sizer - GlaxoSmithKline Prize forExcellence in Patents on the Certificate inIntellectual Property Law and Rajeev Daniel -

GlaxoSmithKline Prize for Excellence inPatents on the Certificate in IntellectualProperty Law.

Pictured above are (l-r, front row) Flora Cook,Jennifer McDowall, Paul Dunne, Daniel Sizerwith their certificates and (l-r, back row) CCLSlecturers Dr Noam Shemtov, Professor GuidoWestkamp, Professor Alison Firth andJonathan Griffiths.

Pavithri Vithanage, Senior Assistant Controllerof Exchange, Central Bank of Sri Lanka

“Having graduated with a Distinction in LLMBanking and Finance, I returned to Sri Lankaand was appointed as a Senior AssistantController of Exchange at the Central Bank ofSri Lanka (CBSL). I function as the Head of theExchange Control Policy and Investigationdivisions and also as a resource person at theCentre for Banking Studies of CBSL. I thankProf Lastra, Prof Dignam, Prof Roberts andother supporting staff for the excellent curriculapresented and knowledge shared. A specialmention of Prof Lastra who held a series ofguest lectures par excellence by top legalpersonnel around the world, investmentbankers and auditors. The experiences atQMUL have immensely enriched my life.”

John Rhie, School of International ArbitrationAlumni, hired by Quinn Emanuel Urquhart& Sullivan

John Rhie, who studied for the Post GraduateDiploma in Comparative InternationalCommercial Arbitration and Investment TreatyDisputes at the School of InternationalArbitration in 2006-2007 has been hired byQuinn Emanuel Urquhart & Sullivan. Rhie isset to be the managing partner of the HongKong office. He has amassed an impressivecareer beginning at Herbert Smith in London,moving to McDermott Will & Emery and thento Kim & Chang in Seoul. Rhie’s experience ofnegotiating complex disputes for Asiancompanies will serve him well in his new roleat Quinn Emanuel Urquhart & Sullivan.


16CCLS Alumni Bulletin – Summer 2013

CCLS IP AWARDS The Centre for Commercial LawStudies recognises excellent academic achievementin its specialised Intellectual Property programmeswith an annual prize giving ceremony.