Cozen O'Connor Forms New Practice Group to Address Credit Market Crisis

Wed Jan 16, 2008 2:26pm EST

* Reuters is not responsible for the content in this press release.

PHILADELPHIA--(Business Wire)--As its clients face increasingly complex legal challenges created
by recent events in the subprime mortgage and other credit markets,
Cozen O'Connor has created a new Subprime Credit Markets Practice
Group, bringing a focused offering of integrated legal services to a
market that continues to feel the sting from this global shake-up. The
unique, multi-disciplinary group of attorneys--with expertise in
securities and financial services litigation, securities and real
estate law, structured finance, insurance coverage, bankruptcy and
restructuring, and white collar defense--will work closely with
clients to create effective and individualized solutions to these
challenges.

   "Like many companies, our clients are affected by the collapse of
the subprime market, and they regularly seek our advice and
representation on a wide range issues related to those events," said
Thomas A. (Tad) Decker, President and CEO of Cozen O'Connor. "This
new, focused practice group allows us to draw upon our wealth of
expertise in different disciplines and serve our clients in an
integrated and coordinated fashion."

   "The fallout from the current credit crisis will have a very long
tail," continued Decker. "It will touch many different types of
companies, including commercial and consumer lenders; securities
issuers and underwriters; hedge, mutual and other funds; insurers,
investment advisers, and institutional investors. Litigation of many
kinds will result, in addition to restructurings, government and
internal investigations, and new transactions." He added, "We are a
firm that moves quickly as a unit to respond properly to our clients'
needs."

   Founded in 1970, Cozen O'Connor is ranked among the 100 largest
law firms in the United States, serving business, insurance and
private clients. Cozen O'Connor is a full-service firm with 500
attorneys practicing in 23 offices. The firm has 21 offices located
across the United States and international offices in London and
Toronto.

   The Disciplines of the Subprime Credit Markets Practice Group:

   Litigation

   The firm has gained a national reputation representing clients in
a broad spectrum of business and commercial litigation matters in
state and federal trial and before appellate courts and numerous
administrative agencies in jurisdictions throughout the United States,
Canada, South America, Europe, Africa, the Middle East, and Asia. Due
to our wide-range of experience, excellent reputation, trial advocacy
skills, and record of success, we have a diverse roster of clients who
rely on us to aggressively represent them in their high-stakes
litigation. Cozen O'Connor attorneys work closely with our clients to
implement an innovative, cost-effective, and, most importantly,
successful resolution of each case.

   For more information, contact Ann Thornton Field at 215 665
2752/afield@cozen.com or John J. McDonough at 212 908
1226/jmcdonough@cozen.com.

   Securities and Financial Services Litigation

   The attorneys in Cozen O'Connor's securities and financial
services litigation practice fully understand the threat and
disruption that securities litigation, investor disputes, regulatory
enforcement and similar matters represent to any business, private or
public. These attorneys already represent clients in litigation
related to the subprime mortgage market, including well-publicized
litigation involving certain bond funds of a leading institutional
money manager. Our clients include public and private companies,
mutual funds, investment banks, investment advisers, broker-dealers,
and their directors, executives and trustees. The group regularly
handles litigation under the various securities laws, derivative
litigation against directors and officers, broker-dealer litigation,
and mergers and acquisitions litigation. In addition to appearing in
court, our attorneys appear before regulatory agencies and securities
exchanges, perform internal investigations, and advise management and
boards of directors.

   For more information, contact George M. Gowen at 215 665
2781/ggowen@cozen.com or Robert W. Hayes at 216 665
2094/rhayes@cozen.com.

   Real Estate and Structured Finance

   Cozen O'Connor attorneys have expertise in lender, investor and
borrower representations, commercial lending, lease finance, capital
markets transactions, structured finance, project finance, and
debtor-in-possession financings. Our client base is broad and includes
commercial and residential developers, real estate investment trusts,
banks and other lending institutions, brokers, dealers and investors.
We also represent 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.

   For more information, contact Jeffrey A. Leonard at 215 665
4157/jleonard@cozen.com.

   Bankruptcy and Restructuring

   The firm's bankruptcy, insolvency and restructuring practice
represents clients in a broad range of commercial litigation and
transactional matters, with emphasis in domestic and international
insolvency, creditors' rights, bankruptcy, out-of-court
restructurings, and reorganization. We actively represent corporate
debtors, secured and unsecured creditors, creditors' committees,
trustees, foreign representatives, landlords, equipment lessors,
insurance companies, lenders, and investors in large Chapter 11 cases
throughout the United States. Recognizing that the adversarial and
competitive business environment requires increasingly creative
strategies to avert serious financial difficulties, members of Cozen
O'Connor's Bankruptcy and Restructuring group are also often called
upon to act as key advisors in the structuring of business and real
estate transactions.

   For more information, contact Neal D. Colton at 215 665
2060/ncolton@cozen.com.

   Insurance Coverage

   Cozen O'Connor has long been regarded as the premier insurance
coverage firm in the United States. The firm focuses on providing its
insurance company clients with objective interpretation of a wide
variety of insurance contracts in the context of legally and
technically complex factual scenarios. We provide our clients with
sound and sophisticated advice on the rights and obligations of the
respective parties to insurance contracts and assist them in resolving
claims in accordance with the contract provisions and the law. In the
event coverage litigation ensues, we vigorously defend our clients'
positions. The firm is uniquely positioned to provide up-to-date
coverage advice in multiple jurisdictions quickly and efficiently.
When our clients need urgent assistance in handling coverage issues in
catastrophic or developing loss situations, Cozen O'Connor is able to
call on lawyers experienced in nearly every U.S. and foreign
jurisdiction to provide solid advice on claims investigation, handling
and coverage specific to the implicated jurisdictions. Cozen O'Connor
maintains an extensive database of multi-jurisdictional case law on a
wide variety of coverage and claims handling issues so that it can
quickly provide critical advice.

   For more information, contact William P. Shelley at 215 665
4142/wshelley@cozen.com or Richard J. Bortnick at 610 832
8357/rbortnick@cozen.com.

   White Collar Defense

   The attorneys in Cozen O'Connor's white collar and complex
criminal defense practice combine vast legal experience and
uncompromising determination to achieve our clients' goals. Our
attorneys are recognized leaders in the criminal defense bar who have
each handled high-profile cases for prominent clients. We pride
ourselves in offering aggressive representation and a personal
approach to solving the most difficult legal problems. Cozen O'Connor
attorneys provide individual and corporate clients with the best
defense available, not only in criminal jury trials and appeals, but
also in all matters involving state and federal criminal law,
including corporate compliance, securities laws, banking regulations
and internal corporate investigations.

   For more information, contact Barry Boss at 202 912
4818/bboss@cozen.com.

Cozen O'Connor
Anne Casey, 215-665-7246

Copyright Business Wire 2008
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