Software Co. Balks At New Century's Sanctions Call

Law360, New York (September 5, 2007, 12:00 AM EDT) -- A software company has denied claims that a fraud lawsuit aimed at former executives and attorneys for New Century Holdings Inc. was a thinly veiled attempt to violate the automatic stay shielding the bankrupt lender.

Already reeling from court-imposed sanctions for what were deemed earlier breaches of the stay, Positive Software Solutions Inc. has come out in defense of calls for a second round of sanctions, arguing the suit has nothing to do with the battered lender.

New Century had successfully argued early last month that...
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