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Ask Herrick, Feinstein LLP partner Gary Eisenberg what the distressed landscape will look like in 2011, and he recalls the movie Rocky III and the sneering response of Clubber Lang, the hulking boxer played by Mr. T, to a reporter’s query about what Rocky Balboa could expect from the two fighters’ upcoming match. “He curled his lips and said, ‘Pain,’” Eisenberg relates. “The question is, whose pain? Somebody’s pain may well be someone else’s gain.”

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