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Responding to the legal issues surrounding the subprime mortgage market, the credit crisis and related issues, Philadelphia’s Pepper Hamilton has formed the credit crisis response team. “This task force will have a broad scope, addressing problems throughout the financial markets,” Richard P. Eckman, a partner at the firm, said in a news release. “This crisis extends beyond just the sub-prime market. In the past six months, access to capital has been severely constrained.” Clients will have to contend with a variety of regulatory and transactional issues as a result of increased defaults, bankruptcies and litigation, as well as heightened government security, according to Eckman. Lenders, banks and others also must brace for more enforcement actions, investigations and litigation, he said. The credit crisis response team is an interdisciplinary group consisting of more than 70 lawyers and other professionals experienced in commercial, regulatory and litigation matters. The team also includes bankruptcy lawyers, tax attorneys and litigators experienced in defending fraud and securities claims, according to the firm. The attorneys will trade information across practice groups to determine trends and problems with financial markets and address matters of any size or complexity, Eckman said. Pepper Hamilton has more than 500 lawyers in seven stats and the District of Columbia.

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