Pillsbury Winthrop Shaw Pittman launches subprime group.Pillsbury Winthrop Shaw Pittman Pillsbury Winthrop Shaw Pittman LLP is an international, full-service law firm with strengths in the energy, financial services, real estate and technology sectors and offices located throughout the United States and the world, including key financial centers such as New York, has announced the formation of a muitidisciplinary group to advise clients and prospects affected by the collapse of the subprime mortgage market. Pillsbury is the first AmLaw 50 firm to announce the creation of a formal group to specifically address this issue. "We will work as a coordinated unit, drawing on lawyers primarily from our bankruptcy, real estate, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and banking practices to analyze, advise and help clients plan before subprime-related issues arise and respond efficiently and effectively to specific legal challenges at any point along the subprime mortgage spectrum," said Pillsbury bankruptcy and insolvency partner Rick Antonoff who is heading the team. "As needed as needed prn. See prn order. , we will also consult with lawyers in our structured finance, securities, tax and derivatives practices, recognizing that a range of clients in the transactional, regulatory and litigation arenas are affected by this issue." Antonoff adds that the group will work with investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. , bondholders, bond trustees and other members of the financial community involved in warehouse loans, whole loan sales, repurchase and securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. issues as well as mortgage lending clients that may be facing bankruptcy, regulatory scrutiny, mortgage fraud claims and other litigation. "The marketplace moves faster than the law itself, which is why we find issue-focused teams, such as our subprime industry group, so valuable to our clients," said Pillsbury Chair Jim Rishwain. Rishwain points out that this is the third issue-specific group that Pillsbury has recently formed to address emerging concerns and help clients stay abreast of developing trends. "A key part of Pillsbury's growth strategy is to be nimble and responsive to emerging trends so that we can help clients make sense of screaming news headlines and determine if they are at risk or possibly face legal challenges," said Pillsbury chair Jim Rishwain. "Our backdating Predating a document or instrument prior to the date it was actually drawn. The negotiability of an instrument is not affected by the fact that it is backdated. task force formed in early 2006 resulted in 12 new matters by helping clients ensure they were in compliance with SEC requirements as well as advising those who already were under investigation. Based on that success, and realizing that global warming global warming, the gradual increase of the temperature of the earth's lower atmosphere as a result of the increase in greenhouse gases since the Industrial Revolution. issues were at a tipping point The point in time in which a technology, procedure, service or philosophy has reached critical mass and becomes mainstream. See network effect. See also tip and ring. , we formed the climate change group last fall to help clients negotiate the changing environmental and political landscape. By creating these multidisciplinary groups that draw on a wide range of lawyers with experience in various industries, clients receive a well-rounded perspective." |
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