New Century Creditors Slam Request For Relief

Law360, New York (June 8, 2007, 12:00 AM EDT) -- Peeved at General Electric Capital Corp.'s motion for relief from an automatic stay, the official unsecured creditors committee of New Century Financial Corp.'s ongoing bankruptcy proceedings said on Thursday that the creditor deserved nothing more than what it had already received.

The motion for automatic stay was the third attempt to force New Century to pay for specific pieces of equipment that GECC has alleged are part of its collateral, the committee said.

“If at first you don’t succeed, try, try again. This has been GECC’s...
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