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BOSTON �� The Boston-based Brown Rudnick Berlack Israels is following numerous other midsize and larger firms with its launch of a structured resolution group to work on legal matters related to the subprime market turmoil. But unlike other firms focused on litigation spawned by subprime lending abuses, Brown Rudnick will help clients “extract value from these distressed situations,” said Edward Weisfelner, a New York lawyer who chairs the firm’s bankruptcy and finance department and head of its bankruptcy and corporate restructuring practice group. “By bringing together the expertise, experience and legal talents of our insolvency and finance practices, we are filling a significant gap in the marketplace,” Weisfelner said. The group will help underwriters, hedge funds, private investment funds and others buy or sell assets affected by the subprime market downturn. The interdisciplinary team includes lawyers from the firm’s structured finance, bankruptcy & corporate restructuring and distressed debt groups. Although Brown Rudnick has not named a formal group chair, Weisfelner and Ronald S. Borod, a Boston lawyer who chairs the firm’s structured finance group, are leading the initiative.

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