New Century Looks To Lazard, O'Melveny & Myers

Law360, New York (March 22, 2007, 12:00 AM EDT) -- As rumors churn over whether or not subprime lender New Century Financial Corp. will enter Chapter 11, a report surfaced Thursday that the company has retained financial and legal advisors.

Citing three creditors close to the matter, Reuters reported that New Century has retained asset management firm Lazard Ltd. as its financial advisor and O’Melveny & Myers LLP as legal counsel.

International firm Lazard has been involved in a number of large Chapter 11 cases, including those of Meridian Automotive Inc., Calpine Corp. and Northwest Airlines...
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