New Century Accused Of Misleading Behavior

Law360, New York (January 18, 2008, 12:00 AM EST) -- As the battle over whether to seal the New Century examiner's report continues to rage, an update has been released that suggests the mortgage lender may have misled investigators regarding its post-petition cash collateral use.

Court-appointed examiner Michael J. Missal released an interim report on Thursday regarding the cash collateral issue, accusing New Century of being less than direct when discussing the situation with him this past summer.

“The examiner finds that the privileged information disclosed at the Aug. 31 meeting rendered the previous statements made...
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