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Hot Topic: The fallout from the mortgage meltdown has battered the economy and upset the legal profession. M&A work and real estate are in the doldrums, but many bankruptcy attorneys are rolling up their sleeves. Hot Topics Table of Contents

Subprime Won’t be Prime Time

The Recorder May 2, 2008

San Francisco’s federal prosecutor says his office will bring lots of mortgage fraud cases, but they won’t be the complex investigations some lawyers are pining for.

PREVIOUS COVERAGE Deal Market’s Downshift

The Recorder April 28, 2008

California firms’ M&A work took a heavy hit in Q1, according to Thomson Financial. Consultant Jack Walker isn’t all doom and gloom, though.

Silicon Scene

The Recorder April 24, 2008

A Bingham partner leads a $5.6 billion bank deal made complex by one lender’s problems in the subprime crisis.

Courts Post Sharp Rise in Bankruptcies

The Recorder April 16, 2008

Business failures shot up 44 percent nationwide last year, and California had the biggest chunk. That, say insolvency attorneys, is just the warm-up.

Subprime Autopsy Scorches KPMG, OMM

The Recorder March 27, 2008

The bankruptcy examiner’s report on New Century says O’Melveny lawyers improperly met with witnesses, but reserves its most scathing criticisms for KPMG accountants.

Real Estate: The Morass is Always Greener

The Recorder March 26, 2008

Attorney David E. Harris writes a sharp roundup of new litigation trends and legislation that will affect green projects and greenbacks.

Creative Lawyering May Save Cities Millions

The Recorder March 25, 2008

Cities, counties and some nonprofits are paying high-penalty interest rates to skittish investors unable to dump increasingly undesirable municipal bonds. Orrick rides to the rescue with a new way to entice investors � and a billion-dollar test project.

Still Got Game

The Recorder March 24, 2008

Post-subprime meltdown, the market seems afraid to roll the dice on big deals. Practice heads at leading law firms say they’re seeing work, just without the backlog they’d had prior to the market’s dip. A lot of that work is coming from investors and lenders less reliant on credit.

Lawyers Await Findings on New Century

The Recorder March 10, 2008

What will the 500-plus-page tome detailing what went wrong at New Century Financial � the second biggest subprime lender in the country until its fast descent into bankruptcy last year � tell us about the company’s auditors, KPMG?

Land Bust = Bankruptcy Boom

The Recorder February 11, 2008

The housing and subprime collapses swamped lenders first. Now lawyers hear cries of help from developers and companies in related industries.

Rough Month for O’Melveny on New Century

The Recorder January 23, 2008

New Century Financial Corp. and its outside restructuring attorneys at O’Melveny misled a bankruptcy examiner about funds that may belong to creditors, according to a blistering report by the examiner unsealed last week.

Subprime Loans Could Yield AAA Work

The Recorder December 21, 2007

From a fees standpoint, the subprime mortgage mess looks good to white-collar defense lawyers. Beyond the classic white-collar boondoggle that is New Century, lawyers wonder whether large-scale investigations will surface elsewhere in California.

Economy’s Frowns Turned Upside-Down

The Recorder December 10, 2007

Thank the subprime meltdown and tanking economy for bringing cheer to the McNutt insolvency firm’s holiday party. The 200 bankruptcy, insolvency and finance professionals were abuzz about the start of what looks to be an upswing in work.

Private Equity Loses Luster

The Recorder August 30, 2007

The month-long credit crisis has roiled the world of deal lawyers as much as it has Wall Street. It isn’t clear yet how much it may slow work for firms and corporate practices in Silicon Valley. But it has knocked a leg out from private equity’s throne.

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