Law Knowledge for Investment Banking

I was promoted today to a Senior Associate at my firm. One of the senior managing directors suggested that I should take the time and learn some fundamental legal concepts relating to M&A, capital markets, and bankruptcy/re-organization if I want to quickly move up to VP. Particularly focusing on M&A and bankruptcies, how can I get some legal know-how without going to law school? I talked to some friends that are attorneys who suggested finding some books or CE courses. I don't want to pay for a CE course that I may not even have time to attend. Any suggestions on comprehensive books to read? Length is not an issue. I'm just looking for a few books that will give a broad overview of the legal aspects of M&A and bankruptcies/re-organizations.

 
Best Response

Nefarious, Bankruptcy, Creditor/Debtor Rights and M&A can't be distilled into simple questions.

My advice would be to pick up a few books covering the basics in study guide form. My advice would be looking at some of the study guides put out by Aspen Publishing. Everything would be under their Law School heading. This way you'll get a decent legal overview without having to go extremely in depth with the minutia of the law. If those don't work, I would search Amazon for something more your speed. Personally, I would also consider looking through what West Publishing has to offer as well. Thompson West makes Westlaw which is one of the 2 big Legal Databases (the other being Lexis - and both are being challenged by Bloomberg), so they would have a decent selection of books and that might suit your needs. Personally, I'd pick up Epstein's Bankruptcy in a Nutshell if you go that route.

 
Frieds:
Nefarious, Bankruptcy, Creditor/Debtor Rights and M&A can't be distilled into simple questions.

Not really sure what this means.

He is asking questions about how to attain knowledge on law subjects. I provided him with a link to a community centered around law that could help him find the proper resources and answers.

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.
 

He is asking for it, but he also stated

how can I get some legal know-how without going to law school? I talked to some friends that are attorneys who suggested finding some books or CE courses. I don't want to pay for a CE course that I may not even have time to attend. Any suggestions on comprehensive books to read? Length is not an issue. I'm just looking for a few books that will give a broad overview of the legal aspects of M&A and bankruptcies/re-organizations.

He's not looking to have questions answered (and from a legal perspective, it's extremely hard to break a bankruptcy question into a simple issue that results in a basic question) but to have resources that he can refer to.

 

This is one of the few times I'll tell someone to spring for the CE courses. I am a huge fan of self education. But the legal framework of M&A (and I'm assuming you don't mean cross border because that's a whole different can of worms) and distressed situations just doesn't work on the page. Distressed situations are a totally wonkish and you really need to learn from someone who is really damn excited to do that work and to teach it. You'll really need to learn it by case study.

OR (and yes I know this is weird but) I've become an expert at auditing classes and you could do that. Reach out to someone who's class you want to sit in on on, offer to buy them a coffee, just like a cold networking contact. It may not work for you because you are a senior associate you are their target revenue. But I did public sector and non-profit work, sometimes for labor organizations - its always been real easy for me to get allowed in to various classes. But its worth trying. Also check academicearth.com or MITopen course ware just in case you can find something there too.

 

You thought Suits was a sick show, wanted to check it out.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

Out of curiosity, where do you go to undergrad that you were able to land 2 internships in your freshman year at 2 well respected firms? Most people cant even get 1.

And yes you can easily spin the big law internship. Just say that you were curious above the legal side but are now leaning towards finance.

 

I study abroad at a semi-target in Asia. I picked this place over Columbia so I guess you can say it's not bad - but I've since realized the talent here in Asia is not quite up to scratch, and IBD in my region is more likely to recruit from kids back home in the US rather than locally. I would compare my school to NYU (CAS, not Stern) back home.

Which is why I've been doing serious networking to scrape together some experience to hustle my way into IBD. It helps that I go to school in what is basically a tiny island, and I'm at the best school on the island (albeit not a superb school by international standards)

I guess the internship would help me tell my story, but would it give me any transferrable skills I can leverage? At least maybe something wishy-washy like a "unique insight" into the deal process. Or would they not buy that...?

 

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