It is becoming more and more pronounced nowadays. The slight uncomfortableness when booking a flight, the gradual build up as the day approaches, and then that queasy, gnawing non-calm as this technological marvel flies through the skies. Holding one decidedly uneasy passenger with a very dated sense of fashion and zero understanding of Whatsapp stickers. (No really, what are they? What purpose do they serve?)
Flying has become my nemesis. Well, not so much a nemesis, as that annoying sibling who you are slightly afraid of. Alright, nemesis then. One whom I have to battle fairly often, with little success.
Yet, it was during just such a battle that I fell into an incredibly interesting conversation.
To give you some context, a mild (very mild) bout of turbulence had brought the worst to my mind. I was well on my way to forming completely illogical connections between the plane and Iran’s defence systems, when my co-passenger handed me a glass of water.
She must have noticed how uncomfortable I was becoming and sought out the one true magic liquid: water. Which is how our conversation began. Turns out that she had studied at Yale University, completing a master’s in public health before doing a bunch of exciting things.
Just the kind of person I want, no need to, speak with.
And so our conversation flowed on, me asking her about an Ivy League education, studying in the States, and whether she thought it was worth the sixty-odd lakhs spent. Her answering my questions with candour, delving back in time and churning out the memories. Making a correction here and there, dropping anecdotes and these one-line zingers now and then.
I made a fair few learnings through our chat. But if I had to choose the most relevant ones for this blog’s readers these are the ones I would pick:
One, the real “value” of an Ivy League education lies outside the classroom. In her two years at Yale, she sat through an intimate talk by Desmond Tutu, watched Natalie Portman perform on campus, attended an Anoushka Shankar performance and more. These were opportunities that her peers at other schools simply did not have. And these were experiences that changed her in a deep, yet often intangible, manner.
Two, studying abroad can get lonely. She told me about a Thanksgiving spent on campus, all alone, with no one to talk to for two days straight. And how the US is not like India where you can self-invite yourself into that Aunty’s house; life is hard and managing guests can be a burden. You have to be ready to deal with this aspect.
Three, desis need to learn to network. “We (Indians) believe that our grades are enough to get us employed. Do well in school, and you will get a job.” But the world does not work like that. You must network. And from day one if you can. In fact, a platform to network is one of the most valuable aspects of a foreign education. You better make the most of it.
Four, closed borders. Alright, so 9/11 took place a few weeks after her course began; a lot of what she shared has to be viewed in this context. Nonetheless, I do think that it is important to talk about tightening borders and xenophobia – brushing it under the carpet helps no one. Anyway, one of the fall outs of 9/11 was a virtual drying up of work visas in her particular field of expertise. She had to watch as jobs that she was perfectly qualified for slip out of her hands the minute her nationality came into the picture.
This is one aspect of the foreign education experience which really deserves far more attention than it currently gets. And I hope that we can have some more discussions about this.
Of course, our conversation was about so much more including drunk passengers, the need for infant-only flights, and how to survive long haul journeys. Best of all, the conversation continued even as the plane shuddered onto the runway, my least favourite section of a flight. This time around though, that familiar feeling of dread was absent. Completely absent.
And as the seat belt sign was switched off, and everyone made that mad rush to stand up in the aisle, I thanked her for sharing her words and wisdom. And for helping me fight the nemesis.
First Person Accounts (FPA’s) are meant to provide a first-hand account of Indian graduates who have pursued, or are pursuing, a post-graduate course (LL.M. or otherwise) from different universities across the world.
Ishan Zahoor
Ishan Zahoor completed his undergraduate law degree from Jamia Milia Islamia in 2013 and spent five years as a corporate counsel before enrolling for the LLM International Finance at the Institute for Law & Finance.
In this FPA, he discusses his LLM experience, why studying in Germany makes sense, the opportunities that the ILF provides, and much more.
You worked for close to five years before deciding to enrol for a master’s. What prompted you to take it up at this point in your career?
I felt that value addition by pursuing an LLM right after my bachelors is negligible. I sensed I need to get acquainted with practicalities of law before I embark on my LLM degree. I was fortunate to be engaged in few project finance and acquisition transactions early on in my career. This gave me an idea how the transaction functions, how does one structure a transaction and so on. It was only natural that after some time I realized that the time was right for me to pursue my LLM.
And, I think I always felt a little incomplete. I always wanted to learn more. I remember during my early years I spent considerable time reading books on Capital Markets, M&A, looking up things at Investopedia and even enrolling myself in various courses, in order just to fill that gap.
Yes, of course there is no better teacher than work itself, but at the same I realized specialized knowledge is the need of the hour.
How did you go about selecting just where to apply, and what were some of the other schools you applied to? What got you to narrow down on the Institute for Law & Finance?
I remember considering to pursue LLM in UK and US Universities back in 2015. I, in fact applied to NYU, Cambridge, University College London, LSE and Kings College London. I remember spending considerable money on the application fee, only to realize later when the time came to pay in the first instalment that I was not prepared mentally to take this financial leap. No matter how I tried to think about it, it never seemed a financially prudent decision. Even with limited scholarships on offer it still seemed daunting.
“I remember spending considerable money on the application fee, only to realize later when the time came to pay in the first instalment that I was not prepared mentally to take this financial leap. “
Having delved in a bit of finance while working on transactions I realized the importance of return on investment especially when pursuing an LLM. Perhaps the finance side of me never could get my head around the deplorable cost benefit analysis of pursuing a LLM from either UK or US. The ever so unnerving fact, that LLM anywhere does not guarantee a job is nightmarish especially if you come back with massive debt.
Spending the amount that we do for an LLM only to come back after completion (within a month in some cases) to India and start earning in rupees did not make a sense to me at all. An LLM for me, like most of my decisions in life, was an investment, the returns on which should be greater than the cost.
I undertook an extensive research on different LLM’s in India and around the world, their pros and cons etc. This is when I discovered Institute for Law and Finance, Goethe University, Frankfurt am Main, Germany (ILF). Having also met a few of its graduates who are well settled around the globe I decided to narrow it down to ILF. It is not only ranked among the best LLM programs in the world alongside Harvard, Columbia etc. but by far it’s a way more cost effective endeavour.
I realized the LLM degree at the ILF is the only program run by the institute. That is to say, there is no bachelor’s degree offered by them. The ILF was formed especially to provide LLM degree in Banking and Finance, keeping in mind the requirements of today’s corporate legal professional who come from diverse jurisdictions and hence a bespoke program was created. This makes it really special unlike the other LLM programs which are more or less like a stepchild of a University with no body really owning it.
Here, it is run by the able staff of the ILF and sponsored by the worlds top law firms and corporates like Debevoise and Plimpton, Allen & Overy, Clifford Chance, Freshfields, Dentons, Banco Santander, Allianz Global, Deutsche Bank, Commerzbank etc.
Any advice on how to go about the application process, more specifically the written requirements?
Yes, one has to realize that there are no shortcuts. You have to write your statement of purpose. You may also have to run after your professor or employer to get a letter of recommendation and perhaps in most cases you might as well have to draft it.
The application process at the ILF is fairly straightforward. There is no application fee, so there shouldn’t be any qualms in applying. Like all others, it requires a statement of purpose along with two letters of recommendation like any other University. But the quality checks are stringent.
Please make sure that your statement of purpose is highly personalized. Do not in any circumstances copy it from someone else. Yes, it’s absolutely okay to read and ‘get inspired’ from what some of your peers have already written, but at the end of the day it should be you and your thoughts alone on that piece of paper. Each one of us has a story to tell and make sure that it’s your story that gets translated onto that paper and not someone else’s.
“Each one of us has a story to tell and make sure that it’s your story that gets translated onto that paper and not someone else’s.”
In regard to the letter of recommendation make sure you are not putting them off to fag end of the application deadline. Remember professors normally do not have time to take request at your convenience. Plan ahead and it’s better if you draft a letter of recommendation and have the concerned person amend it. And yes, just don’t go overboard with praising yourself, be realistic.
Did you apply for/receive financial aid?
The best part of any German University is that they are very generous and hence there are plenty of scholarships available either from the University or the state. I applied for different financial aids that helped in reducing the financial burden to a certain extent.
The ILF offers couple of scholarships one is time based i.e. if you apply well in advance and the other is need based. Make sure you take the advantage of both. I suggest visiting the ILF website and also in the German Academic Exchange Service (DAAD) which might be helpful.
How has the LLM experience been thus far? What would you say were some of the highlights of the course?
This LLM has been an eye opener. I never thought there could be so much to learn. There are times when you hear that LLMs are just a year of holiday abroad, but couldn’t they be more wrong especially when we talk about the LLM at the ILF. The highlights of the course are the modules on offer and of-course the teachers and the ever so helpful ILF staff.
We had teachers like Prof. Andreas Cahn a well known jurist teaching us Corporate Finance followed by Dr. Klaus-Albert Bauer who is the retired senior partner from Freshfields Bruckhaus Deringer teaching us the second part of the same course. Prof. Reinhardt Schmidt, who is an absolute authority in his subject taught us the intricacies of Finance.
Dr. Til Kosche, partner at Noer LLP taught us Mergers and Acquisitions. Prof. Dr. Andreas Hackethal taught us Financial Instruments and Markets. Dr. Manuel Lorenz partner at Baker and Mckenzie taught us Investment Banking. Prof. Michael Haliassos taught us Macroeconomics. Dr. Micheal Huertas and Dr. Arne Klüer, both Partners from Dentons taught us Capital Markets. We had senior partners from Hengeller Mueller like Dr. Hendrik Haag, Dr. Johannes Tieves and Dr. Nikolaus Vieten – teaching us Project and Acquisition Finance. We had Dr. Thomas Schurrle, the managing partner from Debevoise and Plimpton teaching us drafting of contracts.
Tell me, where else can you find a mix of people so apt that no matter what you do, you are destined to learn and learn a lot. The sheer quality of teaching staff was insurmountable coupled with fact that the University is located in the financial hub of Europe – Frankfurt, there is no way of getting it wrong.
“Tell me, where else can you find a mix of people so apt that no matter what you do, you are destined to learn and learn a lot.”
Just to make it clear that there are two programs run simultaneously by the ILF- LLM in International Finance (Banking, Finance and Securities law) and other one LLM in Finance.
The LLM International Finance, being relatively new, has much more to offer. I had the option the chose either one of these and I chose the former. The reasons were simple- The academic fee is lesser than the other course. There are many more opportunities to network especially during the winter break when the LLM Finance class typically does their mandatory internship.
The LLM International Finance does not require mandatory internship during the winter break however one has to attend mandatory courses like German language (a must do) and Advanced Business and Legal English along with intensive intercultural and communications courses.
In addition, during this winter break, there are meticulously planned academic visits to various law firms and companies, which is just another wonderful opportunity to network. We had visits to Thyssenkrupp (a German multinational conglomerate, remember the elevators in India), Hengeller Mueller (perhaps one of the few remaining premium German law firms) in Dusseldorf, Allianz Global Investors, Banco Santander, Noer LLP and Deutchsche Borse (German Stock Exchange), just to name a few.
I had the opportunity to personally meet and indulge for a luncheon with the executive director of ThyssenKrupp and the timing could not be any better. It was right during the time when merger talks between TATA Steel India and Thyssenkrupp Europe were ongoing (unfortunately the plan was shelved due to ECs competition concerns). Believe me, we had plenty to talk about especially about our cherished Ratan Naval Tata. It was great to see that we both were equally in awe of him.
I also met the partners and associates of Hengeller Mueller, a stalwart of German law firms along with the general counsel of Allianz Global Investments and Banco Santander. These are some of the amazing opportunities that I found myself amidst during this remarkable winter break.
These are great occasions to network with folks who may perhaps be your prospective employers. Nevertheless, even a recommendation from any of them goes a long way.
Having said that, just because the LLM International Finance does not offer a mandatory internship, it does not mean that you don’t get one. In fact, not only you do get an internship through the vast network of the ILF, it is more likely to be better paid. Since it’s not the mandatory part of the course the firms do have to pay a certain minimum wage which goes a long way for students like us.
I had the opportunity to intern with Debevoise and Plimpton as a trainee in different departments involved in M&A, financing, merger control and funds/investment management.
Looking back, were there any aspects of the course that you were not as well prepared for as you may have liked?
I wish I could be critical here. Even if I try, I don’t think I can come with anything that was even remotely not well prepared at the ILF. It could hardly go wrong when you have such an able staff that is highly experienced and educated.
Just to give you an idea, the Managing Director is a former lawyer and a manager of top German companies – Dr. Rolf Fridewald, followed by Ms. Shen Dee Kobbelt- Head of programs and marketing who herself was a lawyer and former judge in Singapore.
Lastly, any advice for the Indian law graduate who may be considering a master’s abroad?
Do not expect job offers to be served to you on a platter after pursuing an LLM. Rather, remember to be patient and work on yourself to stand out, network at every given opportunity, hustle your way through and if all sits well you may get yourself a job.
And yes, please by all means go ahead and do it. Research your bit. Do not follow the crowd. Make sure that it is well worth spending the money. Figure out what you want to specialize in and once it feels right, just take the leap!
At Amicus Partners, the Geneva Centre for International Dispute Settlements (CIDS) is more well known for the MIDS programme which sees a large number of India applicants.
Now, for the first time, the CIDS is collaborating with the Faculty of Law of the University of Buenos Aires to organise the Latin American International Arbitration Course (July 20-31) this year.
Nicolas Caffo, a MIDS alum and associate at KNOETZL in Austria, serves as member of the Executive Committee of the LAIAC. In this interview, he explains why the LAIAC is “Latin American” in terms of location alone, why prospective MIDS applicants ought to look at the LAIAC, and a whole lot more.
(Edited excerpts)
Given its focus on Latin America, how do you think Indian practitioners can benefit from the course?
The LAIAC aims to be a global and demanding international arbitration course addressed to participants worldwide. It is “Latin American” in the sense that it is the first institution at this scale in the region, but the content of the lectures as well as the participants and professors are not “Latin American focused”.
“The content of the lectures as well as the participants and professors are not “Latin American focused”.”
Indian practitioners and students wishing to gain top-notch education in international commercial and investment arbitration will therefore benefit from LAIAC by being taught by the leading individuals in international dispute settlement.
Furthermore, LAIAC is developed under the auspices of the Geneva Center for International Dispute Settlement (CIDS), which conducts the MIDS LL.M. every year. This explains why some stellar faculty members from the MIDS program are lecturing at LAIAC, such as Gabrielle Kaufmann-Kohler, Zachary Douglas, Raul Vinuesa, Marcelo Kohen, and Antonio Rigozzi.
Considering the large amount of Indian applicants to the MIDS every year, it may be beneficial for prospective MIDS applicants from India to take part in LAIAC in order to gain exposure to these professors and get a grasp of the “MIDS spirit”.
“Considering the large amount of Indian applicants to the MIDS every year, it may be beneficial for prospective MIDS applicants from India to take part in LAIAC in order to gain exposure to these professors and get a grasp of the “MIDS spirit”.”
Additionally, the course is designed for a limited number of participants and thus enables one to interact directly with LAIAC’s faculty.
Would the participants be informed in advance of the lectures that may be conducted in Spanish?
All the courses and lectures will be conducted in English with the exception of one evening lecture, which will be in Spanish. We organized the course in such way to encourage worldwide applicants to take part in LAIAC.
The topics covered in the courses and lectures are taught from an international perspective, identical to those one would be confronted by undertaking an LL.M. in international dispute settlement.
The admissions criteria mentions you are seeking advanced students – is this mandatory or can students enrolled in the undergraduate law degree also apply?
The LAIAC is primarily addressed to practitioners wishing to expand their knowledge and experience in international arbitration, as well as to government officials, and postgraduate students.
We welcome applications from students enrolled in their final years of undergraduate studies, provided that they can show strong academic credentials and a keen interest in this field of law.
“We welcome applications from students enrolled in their final years of undergraduate studies, provided that they can show strong academic credentials and a keen interest in this field of law.”
The LAIAC has been thought and designed for those wishing to pursue an international career or planning to undertake an LL.M. in the future, as well as for those who have already done an LL.M. and want to deepen their background in international dispute settlement.
What makes LAIAC different from other courses?
First, the program was designed to provide both, an (in depth) overview of international arbitration through the General Course taught by Gabrielle Kaufmann-Kohler and also to tackle more specific topics that practitioners are always keen to understand, such as substantive treaty protection, construction arbitration, contract and investment disputes, sport arbitration, jurisdiction and admissibility, etc.
Each topic of the Thematic Courses was thought out in detail in order to provide LAIAC participants with the necessary tools to develop their profiles in international arbitration.
Second, LAIAC also provides its participants with practical experience through its collaboration with Young ICCA, who will organise a one-day workshop in advocacy skills and cross-examination.
“LAIAC also provides its participants with practical experience through its collaboration with Young ICCA, who will organise a one-day workshop in advocacy skills and cross-examination.”
Finally, LAIAC aims at bringing together practitioners and academics from different jurisdictions. In this spirit, several side events will be organized on a daily basis, such as conferences, round tables and receptions in different locations. This will allow participants to interact with practitioners from different countries.
(Applications are to be submitted by 29 February 2020 for the first round and by 30 April 2020 for the second round. More details here)
As most readers know by now, First Person Accounts (FPA’s) are meant to provide a first-hand account of Indian law graduates who have pursued, or are currently pursuing, a post-graduate course (be it an LLM or otherwise) from different schools across the world.
The FPA (International) is meant to broaden this scope somewhat, getting non-Indian law graduates to discuss their LL.M. experiences in different law schools from across the world.
In the first part of this interview, Velislava Hristova spoke about investing in legal education, and arbitration in general. In the second part, she discusses the ICAL LL.M. in a bit more detail, and also shares some advice for those interested in the field of international arbitration.
Coming specifically to the ICAL programme, why did it catch your attention? What were some of your expectations from the course, and were these met?
After participating in the Frankfurt Investment Arbitration Moot Court (“FIAMC”) in 2014, I had no doubt that what I want to do in the future is International Arbitration.
I attended a couple of short courses, but I felt that I need to do a degree which would help me to consolidate and deepen my knowledge in International Arbitration and prepare myself for the international career I was dreaming of.
The ICAL programme first caught my attention with its global reputation and top ranking for specialised arbitration LL.M. programmes. The Stockholm University has a long tradition in offering education in the field of International Arbitration, and the ICAL programme was established back in 2003 by Prof. Patricia Shaughnessy who I had the great pleasure to be my main tutor during my studies.
Another reason to choose the ICAL programme was that Stockholm is recognised as one of the main arbitration hubs in Europe and the seat of one of the leading arbitral institutions, the Arbitration Institute of the Stockholm Chamber of Commerce (“SCC”) which makes it a natural host for numerous arbitration events.
The decisive factor in choosing the ICAL, however, was the intensive study of International Commercial Arbitration and the opportunity to attend lectures and seminars by leading practitioners and academics in the field.
“The decisive factor in choosing the ICAL, however, was the intensive study of International Commercial Arbitration and the opportunity to attend lectures and seminars by leading practitioners and academics in the field.”
During my studies, I had the chance to attend seminars on International Arbitration and Swedish law held at international and local law firms, take part in conferences, and visit some of the Swedish courts and the SCC. I strived to participate in as many events and extracurricular activities as possible because I strongly believe that your studies are as good as you make them and it is up to you to make the best out of your LL.M.
I expected that the ICAL programme would give me the chance to actively put theory into practice, but it exceeded all my expectations in this regard.
One of the major features of the ICAL programme is its mock arbitration trial during which the students take part in arbitration proceedings following the whole procedure from its beginning with filing a request for arbitration, going through collecting evidence, holding hearings, interviewing witnesses to its end by issuing a final arbitral award. The mock arbitration trial was led by the heads of the dispute resolution teams of the two leading local law firms. Even though it was a time consuming and challenging task, it allowed me to apply the theories I have learnt and to experience the arbitration proceedings from the different perspective of an arbitrator.
It was an amazing coincidence that the law firm I had always dreamed of working for offered an internship to an ICAL student. I was selected for the internship and could gain valuable practical experience working with its Dispute Resolution team, which was a dream come true for me.
The writing seminars during the second semester which aimed to prepare the students for drafting a master thesis further sharpened my legal research and writing skills and I plan to use my thesis as a steppingstone to pursue an academic career in the near future.
On a personal level, the thought of spending a year in Sweden seemed to be a big challenge for me in the beginning (because of the long winter), but it gave me the unique chance to get to know a culture and a country very different from my own and to find out that the long winter is not necessarily something bad.
In short, the ICAL program exceeded my expectations in any possible way, providing me with far more opportunities than I could have imagined before undertaking it.
“In short, the ICAL program exceeded my expectations in any possible way, providing me with far more opportunities than I could have imagined before undertaking it.”
Any advice on how one ought to go about the application process for the ICAL LLM?
I recommend that applicants start preparing their application documents well in advance. To be honest, I started preparing my documents very late. At that time I had a full-time job position and also had to pass the exam for admission in a bar association in Bulgaria, which further complicated my application process and made it feel impossible at some point.
Writing a personal statement for admission at a university was an entirely new experience for me because the process of admission at universities in Bulgaria is formal – you need to pass exams in certain subjects and fill out standard documents. I remember reading a lot of articles on the Internet providing guidance on how to write the best personal statement and many examples of personal statements which were claimed to be successful.
In the end, I just wrote my own story. I told the selection committee how I found my professional calling while being part of the first Bulgarian team which participated in the FIAMC and what were the skills and qualities I developed through this moot. As a trainee in some of the biggest Bulgarian courts for about two years, I managed to study all the weaknesses of the functioning of the state courts and the advantages that alternative dispute resolution methods offer. I believe that making such a comparison and explaining why I do not see myself working in the traditional judicial system strengthened my statement. I made sure that my personal statement underlines my passion and drive to obtain in-depth knowledge in International Arbitration by sharing my participation in various courses and events.
Although there are no set rules on how one should write a personal statement, I would advise the applicants to use it to tell their own story. Nothing will make them stand out better than their unique story told by themselves in an engaging way.
“Although there are no set rules on how one should write a personal statement, I would advise the applicants to use it to tell their own story. Nothing will make them stand out better than their unique story told by themselves in an engaging way.”
Applicants should demonstrate their passion and enthusiasm about the field of study and show what makes them suitable candidates for the course. As each applicant has a different life and professional path, this can happen in many ways – by attending courses and seminars, participating in moot competitions, researching and publishing or working in the field. Applicants should keep in mind that to persuade the selection committee that they are suitable candidates, the information in the personal statement should be relevant to the selected course.
I strongly recommend applicants to share the draft personal statement with friends and colleagues and ask for their opinion. Not only will this help them avoid any mistakes, but it will ensure that they are “selling” themselves effectively and are not underestimating their skills and qualities.
Concerning the letters of recommendation, I turned to one of my university professors who knew me well and to one of the partners of the law firm where I was working at that time. Along with recognising my academic and professional achievements, my referees also discussed my personal character. The letters of recommendation added value to my application providing information about me as a student, as a professional and as a person and thus made it complete.
I advise the applicants to select referees who know them well, who respect them and who are willing to prepare a personalised letter of recommendation, discussing their academic abilities and/or professional competence as well as their personal qualities.
Lastly, given your transnational experience, what are some of the lesser-known aspects about international arbitration practice that more law graduates ought to know?
The world of International Arbitration is very dynamic and has many aspects which should be considered.
First of all, I believe, that exceptional knowledge only in Arbitration would not be sufficient for a successful career in the field but substantive law expertise is also needed. After obtaining my first law degree, I started working in one of the leading law firms in Bulgaria, where I was exposed to projects in a wide variety of fields, such as Energy Law, Corporate and Commercial Law, Contracts Law, Competition Law. Although at that time I was already dreaming of a career focused on International Arbitration and therefore my job did not seem to be that appealing, gaining experience as a lawyer in my home jurisdiction and working in different fields of law has been invaluable. Understanding how a deal is structured, the main challenges of each of the parties, and how the negotiation process was conducted are all crucial for the successful preparation of an arbitration case.
“Understanding how a deal is structured, the main challenges of each of the parties, and how the negotiation process was conducted are all crucial for the successful preparation of an arbitration case.”
Another important aspect and I cannot stress this enough is to be informed. One should always monitor the developments in the field as much as possible. International Arbitration spreads way beyond a single jurisdiction, and there are always new tendencies or new case law which may turn to be ground-breaking or simply – to be important for your next case. If it seems like a burdensome task, one can subscribe for newsletters and the distribution lists of various international organisations.
Good examples are the Young-OGEMID listserv, the ITA Arbitration Reports, the ArbitralWomen Newsletter, the Kluwer Arbitration Blog, etc.
Finding your place in the field can be tricky, especially if you are trying to secure a position in a foreign jurisdiction and to enter a market which you are not well familiar with. Sometimes doing your own research is not enough but you need inside information, which cannot be found in other way but asking somebody who can give you specific advice for the jurisdiction and the market you are considering. In such case finding a senior practitioner from the field who can serve as your mentor can be truly beneficial. I have experienced this myself with my mentors, which I found through the mentorship programmes of Young ITA and ArbitralWomen.
“Sometimes doing your own research is not enough but you need inside information, which cannot be found in other way but asking somebody who can give you specific advice for the jurisdiction and the market you are considering.”
Most importantly, if you have decided that International Arbitration is what you want to do, keep working hard, put all your efforts into it, do not give up even when things seem hopeless, and eventually you will reach your goals.
As most readers know by now, First Person Accounts (FPA’s) are meant to provide a first-hand account of Indian law graduates who have pursued, or are currently pursuing, a post-graduate course (be it an LLM or otherwise) from different schools across the world.
The FPA (International) is meant to broaden this scope somewhat, getting non-Indian law graduates to discuss their LL.M. experiences in different law schools from across the world. The idea behind the FPA(I) interviews is to help the Indian law graduate better understand her potential cohort, and also expand the LL.M. conversation in general.
Velislava Hristovais a Bulgarian qualified lawyer specialising in International Arbitration, and is currently based in Vienna, Austria an intern with the International Arbitration Group of an international law firm. Velislava holds an LL.M. in International Commercial Arbitration Law (ICAL) from Stockholm University and LL.M. from the University of National and World Economy. She specialised in Arbitration and International Commercial Law at Pace University and attended the Paris Arbitration Academy and the ICC Summer course in International Commercial Arbitration. She also happens to be an Ambassador of Arbitration Intelligence, Rapporteur for Europe of Young-OGEMID and Compliance Officer of the Moot Alumni Association.
I have to ask, you are handling so many projects at one time – how on earth do you find the time for this?
I really enjoy the work in the field of International Arbitration. I work with passion and desire. When you enjoy what you do, it is much easier to find the strength and motivation and consequently the time.
I find the motivation to get involved in so many different projects, because of the way I look at them. Each has something different to offer. Some of them are a great learning experience, and they develop me further as a person and a professional. Other projects are close to me because of their mission and the positive impact they bring.
Nothing can compare to seeing your efforts being appreciated and rewarded, especially when it is combined with a positive impact on others. It is something I experience whenever I have the chance to share my knowledge and experience with students and other younger practitioners.
When you love what you do, you will always find the time.
You have invested heavily in legal education throughout your career. What have been some of the greatest benefits derived from this?
There are many benefits from investing in your education, especially when it comes to studying abroad and taking up international courses.
For me, one of the most valuable assets of my education so far is the opportunity to meet many new and inspiring people. While studying and living in Stockholm, I had the chance to meet experienced academics and practitioners like my tutors at the university. I got to know aspiring young arbitration practitioners from all around the world, i.e. my ICAL classmates.
In addition to that, participating in the Arbitration Academy in Paris was an amazing experience both on personal and on a professional level. I had the opportunity to meet and learn from some of the leading practitioners in the field, who I admire. I also spent wonderful three weeks with more than eighty students from all over the world who share the same passion about International Arbitration, and I am pleased to see how active and successful each one of them has been so far. Having a wide and diverse personal network of contacts is among the keys to success in the arbitration world and one of the best ways to achieve it is through education. And not to forget that some of the personal contacts evolved into close friendships.
“Having a wide and diverse personal network of contacts is among the keys to success in the arbitration world and one of the best ways to achieve it is through education. “
My education opened many doors and helped me to identify valuable opportunities. As an ICAL student, I had the chance to secure an internship position at the Stockholm office of a leading U.S. law firm. And I guess that my education has given me a serious advantage during the application process for my current position at the Vienna office of an international law firm.
Attending numerous arbitration events during my studies have resulted in new inspiring opportunities. For example, while attending the Helsinki International Arbitration Day in 2018, I first heard about Arbitrator Intelligence (“AI”). As a young practitioner coming from a region which is underrepresented in International Arbitration, I was fascinated by the mission of AI to promote diversity in arbitrator appointments in all of its dimensions (gender, age, geographical location, legal background). Later on, I was pleased to have the chance to support the AI’s mission by becoming ambassador during its CEE region campaign in 2019.
Another great benefit of my rich educational experience is that it eases my daily work. I am well aware of the latest developments in the field; I have the necessary skills, knowledge and contacts to react swiftly and to spot new business opportunities even in jurisdictions to which I have no exposure at all. This is all thanks to my efforts to improve constantly myself by investing heavily in continuous education.
“In the end, one should keep in mind that knowledge is power, but gaining knowledge and being up-to-date with the latest developments is the really challenging part. “
In the end, one should keep in mind that knowledge is power, but gaining knowledge and being up-to-date with the latest developments is the really challenging part. Education streamlines the process and widens your world, especially if you are an international student. If you are still considering this option – just go for it, it can only be beneficial to you and your career.
Why did you decide to become a coach for the Vis Moot? And how was your experience coaching the NLU Odisha team?
I have not taken part in Vis Moot as a participant, but I have participated in other international moot court competitions, and I know how difficult it is to prepare well when you do not get intense coaching and support from your university.
In the last couple of years, I worked hard to build knowledge and experience in International Arbitration and International Commercial Law learning from some of the greatest minds in the field and sharing my knowledge with students is a good way to give something back and make a positive impact.
This is why I registered as a remote coach with the Moot Academy and was assigned to help the NLU Odisha team to prepare for their participation in Vis East.
I could not even dream of a better team and had a wonderful first experience as a coach. The team always managed to exceed my expectations and showed remarkable progress during the preparation process. I am glad that their efforts paid off at the end. The team members are so talented and hard-working that I am sure they will reach new heights in the future.
This year I have the great pleasure and privilege to coach the team of the National Law Institute University, Bhopal. They are doing a fantastic job so far, and I am very much looking forward to meeting them in person in Vienna in April 2020.
Amicus Partners 