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McDermott, Will & Emery has announced the creation of a subprime & credit markets practice group, which will serve clients’ various needs arising from the subprime debt markets. The group will comprise 40 partners and 90 lawyers from U.S., London, and other European offices. The group is led in New York by Thomas McGavin, head of structured finance, and in London by Nick Terras, who co-heads structured finance. “The challenging conditions in the global debt markets raise complex legal, regulatory and commercial issues for many of the firm’s clients,” McGavin said in a news release. “In response to this demand, we have developed this integrated group which operates on a transatlantic basis to help clients manage the impact of these issues on their businesses.” The group will advise the firm’s banking and financial services clients, investment and pension funds, and corporate and government agencies on issues relating to structured finance and derivatives, corporate restructuring and workouts, litigation and dispute resolution, taxation, civil and criminal regulatory investigations, and government and legislative policy. McDermott Will & Emery has more than 1,100 lawyers in 15 offices.

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