Multi-disciplinary Group Advises Clients on Full Range of Legal Issues in Wake of Subprime Market’s Collapse 

BOSTON, MA – December 3, 2007 – Responding to an increasing demand from clients seeking guidance on the legal complexities associated with the collapse of the subprime lending market, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. announced it has formed a dedicated Subprime Practice Group.  The group taps into the expertise of more than two dozen attorneys across multiple offices and practice areas including litigation, securities, bankruptcy and restructuring, structured finance, governmental investigations, insurance coverage, white collar crime, and real estate. 

“Fallout from the collapse of the subprime market is becoming increasingly widespread and the reverberations will continue to be felt for some time,” said Richard Moche, manager of the firm’s Public Finance Section, who also specializes in representing end-users of structured and derivative products, and is co-chair of the Subprime Practice Group along with Jack Sylvia, a member of the firm’s Litigation Section specializing in securities litigation.

“Already, the firm has seen a growing demand from businesses and individuals seeking advice related to a range of complex issues stemming from the situation – from investigations by government authorities to claims against directors and officers to bankruptcy,” he added.  “By forming a dedicated subprime practice group, we are bringing to bear the vast expertise of attorneys from across the firm to serve clients with a coordinated, multi-disciplinary approach.” 

Mr. Moche pointed out that the wide range of entities potentially affected by the crisis includes, among others: market participants responding to investigations by governmental authorities; insurers responding to claims against officers and directors under D&O policies; financial institutions defending claims asserting inadequate disclosures of the risks related to the subprime market in the offering of securities backed by subprime mortgages; and companies defending against shareholder suits alleging inadequate disclosure of the exposure to subprime credit issues.

Depth of Firm’s Experience

Mintz Levin’s litigation practice provides clients with innovative approaches, experienced advocacy, and substantive expertise across a broad range of business problems. Guided by a solid understanding of its clients’ core objectives, Mintz Levin’s litigators focus on winning efficiently and with accountability.

Mintz Levin’s experienced litigators have appeared in all 48 continental states and the District of Columbia.  In addition, they have managed litigation nationally and regionally for a number of companies.  The firm has represented clients in court, on appeal, and in connection with government and internal investigations.  Mintz Levin also represents its clients in arbitration and mediation and have devised a host of dispute resolution procedures in an effort to best achieve its clients’ goals.

The firm’s clients range from individuals and closely-held corporations to Fortune 100 companies, as well as businesses in the banking, insurance, communciation, real estate, investment, healthcare and life sciences, biotechnology, and pharmaceutical industries.

Mintz Levin has a sophisticated and varied securities practice, representing public and private issuers, underwriters, stockholder groups, and individual investors and encompassing a wide range of transactional work and ongoing advice.  In the securities compliance arena, the firm assists clients in fulfilling their ongoing obligations under the SEC’s periodic reporting system; managing sensitive disclosure issues internally and with industry analysts; preparing proxy statements and handling stockholder meetings; and advising boards of directors concerning the requirements and restrictions imposed on their actions by the securities laws.

The firm also represents clients in all types of securities litigation involving the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1940, the Investment Company Act of 1940, and the Investment Advisers Act of 1940. The securities litigation attorneys also have extensive experience in the defense of investigations and proceedings initiated by the SEC, the NYSE, the NASD, and state securities divisions, as well as litigation involving financial services, shareholder derivative actions, derivative financial products, state securities law, common law claims, defaulted bonds, trust indentures, municipal finance, and real estate investment trusts.

Financial Services and Structured Finance, Commercial Lending
Mintz Levin attorneys handle a variety of legal and counseling work for financial services institutions of all kinds, including financial holding companies, insurance companies, local and national savings banks, and mortgage companies.  The firm has an active and diverse practice representing entities in connection with structured and derivative products and in public finance, including structuring and documenting primary offerings; counseling issuers and other participants in both the primary and secondary public markets; and representing bondholders, bond trustees, bond insurers and borrowers in restructuring or resolving troubled transactions.  The firm has significant experience representing national financial institutions in asset-based financing transactions. Attorneys in the firm also have considerable experience representing banks in connection with commercial loans. 

Mintz Levin has been handling complex and sophisticated coverage cases under a range of insurance policies, including directors’ and officers’, for more than two decades.  The firm’s team of seasoned coverage attorneys has dealt with a broad spectrum of coverage issues, including bad faith, tobacco, sick building syndrome, environmental, asbestos, construction defect, advertising, and other emerging claims. The practice includes the representation of insurers in coverage matters with independent agents and reinsurers, litigating declaratory judgment actions, rendering coverage opinions, and handling the range of commercial coverage cases.

Bankruptcy and Restructuring
Mintz Levin’s nationally recognized bankruptcy practice represents parties and interests involved in a debtor/creditor relationship including debtors, creditors, committees, examiners, trustees, lenders and borrowers, landlords, equipment lessors, acquirers and bondholders and indenture trustees. The Bankruptcy and Restructuring practice combines the expertise of both bankruptcy and commercial law attorneys with tax, insurance, litigation, and corporate attorneys, ensuring a comprehensive approach to our client’s business issues.

White Collar
Mintz Levin enjoys one of the most active and diverse white collar criminal law practices in the country. In addition to managing complex internal investigations involving virtually all subject matter on behalf of existing corporate clients, the firm’s attorneys regularly handle a wide range of state and federal criminal matters, including those arising under securities laws, antitrust laws, banking regulations, environmental statutes, the Internal Revenue Code, election and campaign laws, racketeering and labor statutes, mail and wire fraud statutes, computer and cybercrime statutes, and state criminal laws.

Mintz Levin is an AmLaw 100 law firm with offices in the US and the UK.  The firm has exceptional depth in a broad range of practice areas, but our clients recognize that what sets us apart from other law firms is our industry focus.  By truly understanding business drivers and industry trends, we are able to provide our clients with more than just legal advice; we provide legal solutions to our clients’ business issues.  Since 1933, our lawyers have represented entrepreneurs, emerging growth companies, Fortune 500 companies, government agencies, not-for-profit organizations and leaders in primary industries that include Life Sciences/Biotechnology; Technology & Communications; Energy & Clean Technology; Financial Services & Insurance; Healthcare; Real Estate, Hospitality & Construction; and Retail & Consumer Products.  Our practical knowledge combined with our industry expertise enables us to provide our clients with enterprise legal advice that gives their business a competitive advantage in the marketplace.


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