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Wednesday, Oct 4, 2023

Mintz Levin Responds to Growing Market for Subprime Legal Services

Law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo said last week it would form a subprime practice group in response to increasing demand from clients seeking legal guidance on the complexities associated with the collapse of the subprime lending market.

More than two dozen attorneys across multiple offices and practice areas, including litigation, securities, bankruptcy and restructuring, structured finance, governmental investigations, insurance coverage, white collar crime and real estate, formed the group.

Jeremy Hayden, a San Diego attorney in the firm’s corporate practice, said Mintz Levin has already seen growing demand from businesses and individuals seeking legal advice on subprime lending issues. “We anticipate, like a lot of others, this subprime crisis is only going to continue,” he said.

Mintz attorneys said potential clients might include: market participants responding to investigations by governmental authorities; insurers responding to claims against directors and officers under D & O; policies; financial institutions defending claims asserting inadequate disclosures of the risks related to the subprime market in the offering of securities backed by subprime mortgages; and companies defending against shareholder suits alleging inadequate disclosure of the exposure to subprime credit issues.

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Judge Marguerite Wagner Retires:

San Diego County Superior Court Judge Marguerite Wagner retired last week after 19 years on the bench.

“I think I have truly been blessed with a wonderful career,” said Wagner, who will continue to offer her services as an assigned judge.

Appointed to the municipal court bench in 1989 by Gov. George Deukmejian, Wagner was brought to the Superior Court in 1994 by Gov. Pete Wilson. She served as supervising judge of the North County division of the San Diego Superior Court.

Wagner spent more than 12 years in private law practice as a family law attorney before joining the bench.

During her career, she placed high priority on teaching and sharing her experiences through courses and lectures at numerous institutions, including the California Center for Judicial Education and Research, the California Judicial College and Palomar College.

Judge Joel Pressman will become supervising judge following Wagner’s departure.

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Law School Recommended In AALS:

Thomas Jefferson School of Law was recommended for membership in the Association of American Law Schools by the organization’s executive committee, the law school announced in late November.

The association, founded in 1900, is a nonprofit group of 168 law schools that seeks to improve the legal profession through legal education. It represents law schools to the federal government and other national higher education organizations.

The AALS House of Representatives, which is comprised of delegates from each member law school, will vote on the recommendation at the AALS annual meeting in New York in January. It has a solid record of voting for the executive committee’s recommendations, according to Thomas Jefferson.

“We have reason to celebrate,” said Rudy Hasl, dean of Thomas Jefferson. “This recommendation reflects an external judgment about the academic credibility of our institution and the progress that has been made by all segments of the law school community: faculty, students, alumni and administrators. The AALS Executive Committee has recognized that we have created a vibrant academic program that prepares students for successful careers in the legal profession and engages in the production of quality scholarship that advances the entire profession and our society as a whole.”

Thomas Jefferson, which has 800 students and full-time faculty and staff of more than 100, will open a 180,000-square-foot, eight-story facility in the East Village in the fall of 2010.

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