New Century Examiner’s Probe "Overbroad": KPMG

Law360, New York (July 30, 2007, 12:00 AM EDT) -- KPMG LLC is battling to limit the scope of a probe into its work for New Century Financial Corp., arguing that the discovery being sought by the beleaguered subprime lender’s examiner is “fundamentally at odds” with mandatory dispute resolution procedures.

KPMG, New Century’s former independent auditor, said in court documents filed Friday that the two companies had previously agreed that the sole methodology for resolving any dispute arising from KPMG’s services to New Century would be through alternative dispute resolution rather than in the courts....
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