Public Lectures from the Faculty of Law, University of Cambridge

Speaker: Dr Christopher Stothers, Partner at Freshfields in London and Dublin
Biography: Christopher Stothers is a partner at Freshfields in London and Dublin and an experienced patent litigator, managing strategic, cross-border disputes around Europe and beyond for over 20 years. He has acted as a legal practitioner in many oppositions and appeals before the European Patent Office and as a UPC Representative in several local divisions and the Court of Appeal. He supervised IP students at Downing and St Catharine’s between 2004-2007, and since then has taught part-time at UCL where he is an Honorary Professor of Practice.
Abstract: International patent law has undergone piecemeal harmonisation over many years, from WIPO’s Paris Convention of 1883 through the Strasbourg Convention of 1963, the Patent Cooperation Treaty of 1970, the European Patent Convention of 1973, the (never ratified) Community Patent Conventions of 1975 and 1989, the TRIPS Agreement of 1994, the London Agreement of 2000 and the UPC Agreement of 2013. Despite these efforts, patent porfolios are typically still maintained and enforced on a strategic territorial basis, which in bigger cases often leads to cross-border disputes, particularly over standard essential patents and important pharmaceutical patents. The last decade has seen the re-emergence of cross-border enforcement by courts, including retaliatory anti-suit, anti-anti-suit, anti-enforcement and now anti-interim licence injunctions. Christopher has been involved in cross-border patent enforcement for over 20 years and will talk about the changes he has seen (and what is coming in the future).
For more information see:
https://www.cipil.law.cam.ac.uk/seminars-and-events/cipil-seminars

Speaker: Dr Luca Sicignano (Lecturer in Business Law at the University of Naples L’Orientale)
Abstract: The effectiveness of corporate restructuring plans largely relies on solutions shared as widely as possible among relevant stakeholders. This explains the worldwide spread of procedures that presuppose a negotiation phase and the attainment of genuine agreements among all stakeholders involved, or at least among the majority of them. However, following Directive (EU) 2019/1023, the widespread introduction of cross-class cram-down mechanisms and more flexible value-allocation rules (the Relative Priority Rule), has profoundly altered the incentives that structure these negotiations. Through a comparative analysis of the main European systems, the paper shows that these tools - originally conceived to prevent opportunistic holdouts - often weaken the search for genuinely consensual solutions and encourage the formation of narrow negotiating coalitions that ultimately impose their preferred outcomes on dissenting creditors. This paper seeks to highlight the modern paradox (the so-called “imposed bargain”) represented by the spread of imposed plans and to investigate the motivations that are likely driving the growing reliance on non-consensual tools for resolving corporate distress.
Luca Sicignano is a Postdoctoral Research Fellow in Business Law at the University of Campania “Luigi Vanvitelli” and a Lecturer in Business Law at the University of Naples “L’Orientale”. He graduated from Luiss “Guido Carli” University in Rome in 2017, where he currently serves as a Teaching Assistant. In 2022, he obtained a Ph.D. in Business Law and was admitted to the Italian Bar following a judicial clerkship at the Public Prosecutor's Office of the Court of Appeal of Rome. He has held visiting research positions at the University of Cambridge, the University of Vienna, and the Max Planck Institute Luxembourg, and has undertaken repeated research stays at the Institute for Comparative Law of Heidelberg University. During the academic year 2023–2024, he served as a Lecturer at Heidelberg University, teaching Introduction to Italian Company Law. His research focuses on Business Law, with particular emphasis on corporate, financial and insolvency law. He has authored over 25 publications in Italian and international journals and has presented his research at conferences in Dublin and Dubrovnik. He serves on the editorial board of Banca, Borsa e Titoli di Credito and is a member of the European Law Institute (ELI) and the Young Scholars section of the European Society for Banking and Financial Law (AEDBF).
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:
http://www.3cl.law.cam.ac.uk/

Lecture summary: The regulation of submarines has rarely been an issue of focus in international law. Their military utility has influenced states’ willingness to develop rules that restrict their operations, both historically and in contemporary settings. So much is evident in examining current controversies over navigational rights of warships. Yet the types and uses of submarines are continually evolving and are regulated—to varying extents—by a myriad of international law. With the development of autonomous submarines, we again need to think carefully about the existing rules, their gaps and ambiguities. Have we reached the point that these evasive underwater vehicles cannot and should not elude the reach of international law?
Dr Natalie Klein is Associate Dean (Academic) and a Professor at UNSW Sydney’s Faculty of Law & Justice, Australia. Professor Klein teaches and researches in different areas of international law, focusing on law of the sea. She was a Visiting Fellow at the Lauterpacht Centre in 2008 when she was working on Maritime Security and the Law of the Sea (OUP). She is co-author, with Kate Purcell and Jack McNally, of a forthcoming monograph, Submarines in International Law (CUP).
There is a sandwich lunch at 12.30 pm in the Old Library at the Centre. All lecture attendees welcome.
Chair: Prof Markus Gehring
The Friday Lunchtime Lecture series is kindly supported by Cambridge University Press & Assessment.

Speaker: Professor Morten Rasmussen, University of Copenhagen
Biography: Morten Rasmussen is Associate Professor at the SAXO Institute, University of Copenhagen and a leading expert on the legal histories of European integration and the League of Nations. He has published numerous articles and book chapters on these topics. The most recent publication is a general history of early period of European Union Law from 1950 to 1993. He is currently co-editing a Cambridge Handbook of the League of Nations and international law.
Abstract: Professor Rasmussen will present on his forthcoming publication 'The History of European Union Law - Constitutional Practice, 1950 to 1993'. The formative period of EU law witnessed an intense struggle over the emergence of a constitutional practice. While the supranational institutions, including the European Commission, the European Court of Justice and the European Parliament, as well as EU law academics helped to develop and promote the constitutional practice, member state governments and judiciaries were generally reluctant to embrace it. The struggle resulted in an uneasy stalemate in which the constitutional practice was allowed to influence the doctrines, shape and functioning of the European legal order that now underpins the EU, but a majority of member state governments rejected European constitutionalism as the legitimating principle of the new EU formed on basis of the Treaty of Maastricht (1992). The lecture traces the struggle and accounts for eventual stalemate over the constitutional practice and the fragile and partial system of rule of law that exists in the EU today.
For more information see:
https://www.cels.law.cam.ac.uk/weekly-seminar-series

Speaker: Professor Dirk Andreas Zetzsche (Professor of Financial Law, University of Luxembourg)
Abstract: Sustainability-oriented investors want to pay for impact, not compliance. We analyse the regulatory challenges and opportunities of impact investing. We find that advancing impact investing requires a departure from the EU Sustainable Finance Framework's (EUSFF) prevailing input-orientation and an adjustment of EU asset-management law towards an EU Impact Finance Framework.
In its current form, the EUSFF over-emphasises exclusion, using rule-based ex ante definitions of sustainable business (herein termed input). If a large share of global capital follows these rules, unsustainable firms’ capital costs will increase, furthering innovation of sustainable alternatives. However, the EUSFF alone cannot prevent global capital flows into unsustainable investments, and non-EU countries follow different approaches. Although the EUSFF encourages, in effect, the sale of unsustainable EU businesses to non-EU firms, its input orientation has not helped the planet: the same activities continue elsewhere, often under weaker environmental and social standards, leaving the planet worse off. Further, the EUSFF’s disregard for proven ex post impacts risks large-scale capital misallocation and “impact washing”. Worse, the input focus comes at the cost of investments paired with audited evidence of positive ESG impacts ex post.
We argue for shifting EU financial regulation from input to (proven) impact. Yet, rather than adding a new product category, we propose recognising positive impacts through five fine-tuned steps that simplify EU financial regulation, taking into account regulatory developments in the United Kingdom and Switzerland. These include abolishing the link between “do no significant harm” under the Taxonomy Regulation and the Sustainable Finance Disclosure Regulation, simplified reporting aligned with product materials and the emerging IFRS Disclosure Standards, introducing a new proportionality threshold for mid-sized AIFMs, and revising ESMA’s rules on fund names.
Professor Zetzsche is Professor of Financial Law at the University of Luxembourg where he has held the ADA Chair in Financial Law (inclusive finance) since March 2016 and functions as the Head of the Department of Law since 2024. He is also coordinator of the Faculty of Law, Economics and Finance's House of Sustainable Governance & Markets and Co-PI of the Future FinTech National Centre of Excellence in Research and Innovation.
Professor Zetzsche has published more than 400 publications on inclusive and sustainable finance, corporate governance, FinTech and RegTech, and collective investment schemes. He has spoken at most of the leading universities globally and has advised many of the major regulators, eg the FSB, the BIS, the Basel Committee, the European Commission, the European Parliament, ESMA, EBA, the ESRB and the US SEC. In February 2023, he made the case for financial inclusion at the United Nations Social Commission, and spoke on inclusive and sustainable finance at COP27, 28, 29 and 30.
Professor Zetzsche's paper Towards an EU Impact Investing Framework is available on SSRN.
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:
http://www.3cl.law.cam.ac.uk/