Case Study 1: Legal Analysis

Jaysen

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  • Feb 17, 2018
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    Hey all,

    This is the first in a series of mock case studies, please see attached.

    The case studies are here to help you prepare for the written exercise at assessment centres. This one focuses on your ability to analyse complex information and form a solution.

    To simulate a real written exercise, we recommend that you print out the materials, time yourself and hand-write your answer. Try to work in a quiet environment with no distractions. Kindly note, unfortunately we lack the capacity to provide individualised feedback any more, but we encourage you to use this for practise!

    The case study has been designed to take one hour to complete.

    Best,

    Jaysen
     

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    • Written Case Study 1 - The Corporate Law Academy.pdf
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    Jaysen

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  • Feb 17, 2018
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    Well done to those who have submitted case studies recently for review, I am seeing some great answers.

    Trophy points coming your way!
     

    Jaysen

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  • Feb 17, 2018
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    Here you go: https://www.thecorporatelawacademy.com/forum/threads/case-study-1-legal-analysis.77/

    Also, here is some advice from a student who recently secured a vac scheme offer at Weil:

    The interview I would say is very relaxed and conversational, but it’s important to do a lot of research first especially on the firm’s key areas such as private equity and banking & finance.

    I would also say it’s important to know what acquisition finance is and what private equity is. Be able to talk about these and also be able to talk about your past experiences in depth e.g. I was asked to explain what an RVI policy is after having spoken about it in my work experience at norton rose Fulbright.

    Be able to speak about a number of commercial topics and don’t just focus on Brexit - look at trade wars or fintech - really anything you’re interested in and can talk about comfortably.

    Knowing a few deals that the firm has done is also good.

    I’d say smile and be personable - body language and the way you come across is super important and sets the tone for the interview. My interviewers laughed a few times (not at me of course!) and were smiling during the interview.

    I guess enjoy the moment and seize the opportunity.
     
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    Daniel Boden

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  • Sep 6, 2018
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    Here you go: https://www.thecorporatelawacademy.com/forum/threads/case-study-1-legal-analysis.77/

    Also, here is some advice from a student who recently secured a vac scheme offer at Weil:

    The interview I would say is very relaxed and conversational, but it’s important to do a lot of research first especially on the firm’s key areas such as private equity and banking & finance.

    I would also say it’s important to know what acquisition finance is and what private equity is. Be able to talk about these and also be able to talk about your past experiences in depth e.g. I was asked to explain what an RVI policy is after having spoken about it in my work experience at norton rose Fulbright.

    Be able to speak about a number of commercial topics and don’t just focus on Brexit - look at trade wars or fintech - really anything you’re interested in and can talk about comfortably.

    Knowing a few deals that the firm has done is also good.

    I’d say smile and be personable - body language and the way you come across is super important and sets the tone for the interview. My interviewers laughed a few times (not at me of course!) and were smiling during the interview.

    I guess enjoy the moment and seize the opportunity.
    If this is meant for me thanks a lot Jaysen!
     

    SRW

    Star Member
    Mar 11, 2019
    41
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    Would anyone be willing to post their 'model answer' for this case study? It would be interesting to see how different people approached the exercise. Especially non-law vs law students.
     

    Zain97

    Well-Known Member
    May 13, 2019
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    Well done to those who have submitted case studies recently for review, I am seeing some great answers.

    Trophy points coming your way!

    Thanks for uploading this Jaysen!

    I was wondering whether it'd be possible to see the guidance/marking on this, please? It'd be great to see your perspective on the case studies.
    :)
     

    Jaysen

    Founder, TCLA
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  • Feb 17, 2018
    4,692
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    Thanks for uploading this Jaysen!

    I was wondering whether it'd be possible to see the guidance/marking on this, please? It'd be great to see your perspective on the case studies.
    :)

    Hi Zain,

    We don't actually have a checklist for this at the moment. I'm about to begin working on some new case studies though, so I may do a checklist on this in the near future. I'm afraid this, as well as our other case studies, are only available for premium members at the moment though.
     
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    TakeAChanceOnMe

    Star Member
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    Feb 4, 2023
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    Hi! I just had a go at this, is there any way to see answers from other people to figure out if I'm going in the right direction?
    Would love to know the same. I honestly don't know much more I'd say to this guy beyond 'you're scr**ed'
    I guess one could point that out to him in very clear, considered, structured non- legal language. :)
    Any other thoughts?
     

    jjiang

    New Member
    Jan 10, 2024
    1
    0
    Would love to know the same. I honestly don't know much more I'd say to this guy beyond 'you're scr**ed'
    I guess one could point that out to him in very clear, considered, structured non- legal language. :)
    Any other thoughts?
    would agree, although s53 1(c) is a potential defence. what kind of advice can you give to someone in this sort of situation?
     

    box2boxCDM

    New Member
  • Aug 10, 2023
    3
    1
    Seeming as there are no model answers out there yet, I have shared my attempt at this practice written exercise in hopes of gaining feedback from others. Please feel free to critique or make improvements to my answer :)

    *I would also like to note that I spent additional time correcting my SPAG. As personal feedback, I definitely need to work on perfecting my writing under timed pressure*

    MY ATTEMPT AT WRITTEN TASK:

    FROM: [Trainee Name]
    TO: John Mines
    SUBJECT: Re: Senwave Query
    DATE: 06/04/2018


    Dear Mr Mines,

    My name is [Trainee Name] and I am a Trainee Solicitor at Charles & Williams. I am aware you know my supervisor Sam Thompson, who has instructed me to reply to your query regarding your recent disposition of Senwave plc’s (‘the Company’) shares.


    SUMMARY

    After carefully reviewing your query regarding selling your shares in Senwave, it seems that your actions may amount to ‘insider dealing’. This is because it appears you have, in your capacity as director, used non-public information regarding the profits of the Company, to sell your shares in Senwave.

    Nevertheless, there are some defences which you can rely on, but further deliberation is required.

    I have outlined a detailed reasoning for my summary, along with potential defences and the next steps to take.

    REASONING

    The Criminal Justice Act 1993 (‘the Act’) makes it an offence for an individual who possesses inside information, to sell their shares to which the information relates. This applies to your case as:

    Firstly, as a director of Senwave, you are considered an ‘insider’ who subsequently gained information about the Company’s financial performance by virtue of your position.

    Secondly, information regarding the financial statements of Senwave is considered ‘inside information’ as: (a) it relates to the Company, (b) shows specific information pertaining to the financial performance of Senwave for the year, (c) is information which has not been announced publicly, and (d) if made public, would affect the Company’s share price on the London Stock Exchange.

    Finally, as you have disposed of your shares after obtaining inside information at the 1 January 2018 Board Meeting, it appears an offence of insider dealing has been satisfied.

    POTENTIAL DEFENCES

    There are several defences which can be relied on by the Act, most notably in your case:
    • If you can prove that you did not expect the disposition of Senwave’s shares to result in a profit after obtaining information regarding the financial performance at the January Board Meeting; or
    • If you can prove that you would have disposed of those shares in the absence of information pertaining to Senwave’s financial performance.

    NEXT STEPS

    In order to rely on these defences, the onus is on you to provide the appropriate evidence to defend a claim for insider dealing. I therefore recommend taking the following steps:
    • Booking an appointment with me or Sam soon to discuss the matter further;
    • Collecting documents which pertain to the financial statements of Senwave (including board minutes from the January meeting) – the reason for this is to ascertain whether you certainly dealt with inside information;
    • Obtaining receipts from the bank outlining which shares you have dealt with and for how much;
    • Identify any individuals who may be able to provide witness statements on your intentions to dispose of the Company’s shares; and
    • Refrain from selling any Senwave shares for the foreseeable future. If you do require it as a matter of urgency, then please contact me or Sam first.
    In addition, if you are contacted by the police, or any regulatory body such as the FCA, then I advise to also contact me or Sam as soon as possible.

    I hope this email provides a clear explanation for your query. Please contact me if you wish to discuss this (or any other) matter further.

    I hope to hear from you soon.

    Yours sincerely,
    [Trainee name]
     
    • Like
    Reactions: MrHubertLouis

    TakeAChanceOnMe

    Star Member
    Gold Member
    Premium Member
    Feb 4, 2023
    46
    22
    This is really excellent, well done

    Seeming as there are no model answers out there yet, I have shared my attempt at this practice written exercise in hopes of gaining feedback from others. Please feel free to critique or make improvements to my answer :)

    *I would also like to note that I spent additional time correcting my SPAG. As personal feedback, I definitely need to work on perfecting my writing under timed pressure*

    MY ATTEMPT AT WRITTEN TASK:

    FROM: [Trainee Name]
    TO: John Mines
    SUBJECT: Re: Senwave Query
    DATE: 06/04/2018


    Dear Mr Mines,

    My name is [Trainee Name] and I am a Trainee Solicitor at Charles & Williams. I am aware you know my supervisor Sam Thompson, who has instructed me to reply to your query regarding your recent disposition of Senwave plc’s (‘the Company’) shares.


    SUMMARY

    After carefully reviewing your query regarding selling your shares in Senwave, it seems that your actions may amount to ‘insider dealing’. This is because it appears you have, in your capacity as director, used non-public information regarding the profits of the Company, to sell your shares in Senwave.

    Nevertheless, there are some defences which you can rely on, but further deliberation is required.

    I have outlined a detailed reasoning for my summary, along with potential defences and the next steps to take.

    REASONING

    The Criminal Justice Act 1993 (‘the Act’) makes it an offence for an individual who possesses inside information, to sell their shares to which the information relates. This applies to your case as:

    Firstly, as a director of Senwave, you are considered an ‘insider’ who subsequently gained information about the Company’s financial performance by virtue of your position.

    Secondly, information regarding the financial statements of Senwave is considered ‘inside information’ as: (a) it relates to the Company, (b) shows specific information pertaining to the financial performance of Senwave for the year, (c) is information which has not been announced publicly, and (d) if made public, would affect the Company’s share price on the London Stock Exchange.

    Finally, as you have disposed of your shares after obtaining inside information at the 1 January 2018 Board Meeting, it appears an offence of insider dealing has been satisfied.

    POTENTIAL DEFENCES

    There are several defences which can be relied on by the Act, most notably in your case:
    • If you can prove that you did not expect the disposition of Senwave’s shares to result in a profit after obtaining information regarding the financial performance at the January Board Meeting; or
    • If you can prove that you would have disposed of those shares in the absence of information pertaining to Senwave’s financial performance.

    NEXT STEPS

    In order to rely on these defences, the onus is on you to provide the appropriate evidence to defend a claim for insider dealing. I therefore recommend taking the following steps:
    • Booking an appointment with me or Sam soon to discuss the matter further;
    • Collecting documents which pertain to the financial statements of Senwave (including board minutes from the January meeting) – the reason for this is to ascertain whether you certainly dealt with inside information;
    • Obtaining receipts from the bank outlining which shares you have dealt with and for how much;
    • Identify any individuals who may be able to provide witness statements on your intentions to dispose of the Company’s shares; and
    • Refrain from selling any Senwave shares for the foreseeable future. If you do require it as a matter of urgency, then please contact me or Sam first.
    In addition, if you are contacted by the police, or any regulatory body such as the FCA, then I advise to also contact me or Sam as soon as possible.

    I hope this email provides a clear explanation for your query. Please contact me if you wish to discuss this (or any other) matter further.

    I hope to hear from you soon.

    Yours sincerely,
    [Trainee name]
     

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